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Companies / Materials / Smart Sand, Inc.
SND

Smart Sand, Inc.

MaterialsMining
Ticker SNDYARDLEY, PAFiscal year ends DecemberBook value per share $5.77Diluted shares 41.3M

Smart Sand, Inc. (Nasdaq: SND) is an integrated frac and industrial sand supplier and logistics services company. It produces Northern White sand, used as a proppant in hydraulic fracturing and in industrial applications, and provides mine-to-wellsite delivery, transloading, storage and proppant management services.… From the company’s description.

Over the twelve months to Jun 30, 2026, Smart Sand, Inc. reported revenue of $386.99M, up 26.5% from a year earlier, and net income of $10.49M. Its operating margin was 2.0%, and operations generated $46.98M in cash. In fiscal 2025, it reported revenue of $330.15M, up 6.0% from fiscal 2024, and net income of $1.34M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$330.15MFY2025
+6.0% year over year
Last 12 mo $386.99M
-1.35%FY2025
−2.3 percentage points
Last 12 mo 2.03%
$1.34MFY2025
−55.0% year over year
Last 12 mo $10.49M
0.56%FY2025
−0.7 percentage points
Last 12 mo 4.40%
Cash & financing
$44.12MFY2025
+147.0% year over year
Last 12 mo $46.98M
$32.52MFY2025
+199.6% year over year
Last 12 mo $34.63M
0.05FY2025
Was 0.05× a year earlier
Last 12 mo 0.06
39.6MFY2025
+1.3% year over year
Last 12 mo 41.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Smart Sand, Inc. does

In the company’s own words

Smart Sand, Inc. (Nasdaq: SND) is an integrated frac and industrial sand supplier and logistics services company. It produces Northern White sand, used as a proppant in hydraulic fracturing and in industrial applications, and provides mine-to-wellsite delivery, transloading, storage and proppant management services. Its customers include oil and natural gas exploration and production companies, oilfield service companies, and industrial and commercial businesses. Smart Sand reports two operating segments: Sand, which includes frac and industrial sand production and sales, and SmartSystems, which provides wellsite proppant handling equipment and services. Industrial Products Solutions, introduced in 2021, serves markets including glass, foundry, building products, filtration, geothermal, renewables, ceramics, turf and recreation, and represents approximately 5% of the business. SmartSystems offerings include SmartDepot storage silos, SmartBelt conveyors and the SmartPath proppant management system. The company operates mines and processing facilities in Oakdale and Blair, Wisconsin, and Ottawa, Illinois, with approximately 10.0 million tons of annual sand processing capacity. In 2025, EQT Corporation and EOG Resources accounted for 27.7% and 10.9% of total revenue, respectively.

Company details
Sector
Materials
Industry (SIC)
Mining
Headquarters
YARDLEY, PA
Fiscal year end
December
CIK
1529628
SIC
1400

Financial performance, year by year

Fiscal 2016–2025 · USD
$-94.44M$36.86M$168.16M$299.45M$430.75M2016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Smart Sand, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

74
funds hold it
0 of 35
superinvestors hold it
$27.21M
held by funds, at market
12.9%
of shares held by funds

Largest fund holders · Smart Sand, Inc.’s weight in each

1.20%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.00%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Smart Sand, Inc. and its peers compare on margins and cash generation over ten years?”
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