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Smart Sand, Inc. SND Shipping — Sand cost of goods sold

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Other financials

Income statement

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Revenue$93.1M+42.0%
Gross profit$6.1M+120%
Operating income-$4.9M+30.9%
Net income-$3.9M+84.1%
EPS (diluted)-$0.10+83.9%

Balance sheet

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Cash & equivalents$19.5M+281%
Total debt$39.1M+18.2%
Total equity$234.1M+6.5%
Total assets$335.7M+2.7%

Cash flow

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Operating cash flow$3.0M-65.1%
CapEx$2.2M-37.8%
Free cash flow$842.0K-83.8%

Valuation

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Market cap$215.36M+121%
Enterprise value$235.02M+62.5%
P/E9.9×-111×
P/S0.6×+0.3×

Profitability

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Gross margin11.5%-0.7pp
Operating margin-0.6%-0.2pp
Net margin6.1%+3.9pp
FCF margin7.9%+0.3pp

Returns & leverage

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Return on equity9.6%+6.4pp
Debt / equity0.2×0.0×
Current ratio1.7×-0.1×

Where this comes from

Reported directly by Smart Sand, Inc. in its filing.

Tagged under the XBRL concept snd:CostOfGoodsAndServicesSoldExcludingInventoryWriteDown.

The official record: Smart Sand, Inc.’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Smart Sand, Inc.'s shipping — sand cost of goods sold?
Smart Sand, Inc. (SND) reported shipping — sand cost of goods sold of $42.7M in Q4 2025.
How has Smart Sand, Inc.'s shipping — sand cost of goods sold changed year-over-year?
Smart Sand, Inc.'s shipping — sand cost of goods sold increased by 18.5% year-over-year, from $36.03M to $42.7M.
What is the long-term trend for Smart Sand, Inc.'s shipping — sand cost of goods sold?
Over 4 years (2021 to 2025), Smart Sand, Inc.'s shipping — sand cost of goods sold has grown at a 31.1% compound annual growth rate (CAGR), from $57.77M to $170.79M.
What does shipping — sand cost of goods sold mean?
This metric represents the direct costs associated with the production, processing, and procurement of frac sand products within the shipping and logistics segment. It excludes non-cash inventory write-downs to provide a clearer view of the variable costs required to deliver proppant to the well site. Monitoring this figure helps investors assess the underlying operational efficiency and margin profile of the company's core sand supply business.