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Smart Sand Valuation Multiples

Discover revenue and EBITDA valuation multiples for Smart Sand and similar public comparables like SBM Offshore, Fugro, and Dana Gas.

Smart Sand Overview

About Smart Sand

Smart Sand Inc. is a fully integrated frac sand company providing mine-to-well site proppant supply and logistics. It produces Northern White frac sand for enhanced hydrocarbon recovery in oil and gas wells. The company offers products like Smart System, SmartBelt, SmartDepot Silo, and SmartPath Loader. It is expanding into industrial markets, including glass, ceramics, and renewable energy, while its main revenue comes from sand sales and logistics.


Founded

2011

HQ

United States of America
Employees

285

Website

smartsand.com

Financials

LTM Revenue $311M

LTM EBITDA $39.6M

EV

$127M

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Smart Sand Financials

Smart Sand has a last 12-month revenue (LTM) of $311M and a last 12-month EBITDA of $39.6M.

In the most recent fiscal year, Smart Sand achieved revenue of $311M and an EBITDA of $31.7M.

Smart Sand expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Smart Sand P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $311M XXX $311M XXX XXX XXX
Gross Profit n/a XXX $44.8M XXX XXX XXX
Gross Margin n/a XXX 14% XXX XXX XXX
EBITDA $39.6M XXX $31.7M XXX XXX XXX
EBITDA Margin 13% XXX 10% XXX XXX XXX
EBIT n/a XXX $4.1M XXX XXX XXX
EBIT Margin n/a XXX 1% XXX XXX XXX
Net Profit $3.0M XXX $3.0M XXX XXX XXX
Net Margin 1% XXX 1% XXX XXX XXX
Net Debt XXX XXX $10.6M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Smart Sand Stock Performance

As of August 18, 2025, Smart Sand's stock price is $2.

Smart Sand has current market cap of $82.8M, and EV of $127M.

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Smart Sand Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$127M $82.8M XXX XXX XXX XXX $0.08

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Smart Sand Valuation Multiples

As of August 18, 2025, Smart Sand has market cap of $82.8M and EV of $127M.

Smart Sand's trades at 0.4x EV/Revenue multiple, and 4.0x EV/EBITDA.

Equity research analysts estimate Smart Sand's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Smart Sand has a P/E ratio of 27.7x.

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Smart Sand Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $82.8M XXX $82.8M XXX XXX XXX
EV (current) $127M XXX $127M XXX XXX XXX
EV/Revenue 0.4x XXX 0.4x XXX XXX XXX
EV/EBITDA 3.2x XXX 4.0x XXX XXX XXX
EV/EBIT n/a XXX 31.3x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E 27.7x XXX 27.7x XXX XXX XXX
EV/FCF 6.1x XXX 11.7x XXX XXX XXX

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Smart Sand Margins & Growth Rates

Smart Sand's revenue per employee in the last FY averaged $1.1M, while opex per employee averaged $0.1M for the same period.

Smart Sand's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Smart Sand's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Smart Sand Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth n/a XXX n/a XXX XXX XXX
EBITDA Margin 13% XXX 10% XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 n/a XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX $1.1M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 13% XXX XXX XXX

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Smart Sand Public Comps

See public comps and valuation multiples for Fossil Fuels and Energy Equipment comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC Drilling Company XXX XXX XXX XXX XXX XXX
ADNOC Gas XXX XXX XXX XXX XXX XXX
Dana Gas XXX XXX XXX XXX XXX XXX
Fugro XXX XXX XXX XXX XXX XXX
SBM Offshore XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Smart Sand M&A and Investment Activity

Smart Sand acquired  XXX companies to date.

Last acquisition by Smart Sand was  XXXXXXXX, XXXXX XXXXX XXXXXX . Smart Sand acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Smart Sand

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Smart Sand

When was Smart Sand founded? Smart Sand was founded in 2011.
Where is Smart Sand headquartered? Smart Sand is headquartered in United States of America.
How many employees does Smart Sand have? As of today, Smart Sand has 285 employees.
Who is the CEO of Smart Sand? Smart Sand's CEO is Mr. Charles E. Young.
Is Smart Sand publicy listed? Yes, Smart Sand is a public company listed on NAS.
What is the stock symbol of Smart Sand? Smart Sand trades under SND ticker.
When did Smart Sand go public? Smart Sand went public in 2016.
Who are competitors of Smart Sand? Similar companies to Smart Sand include e.g. ADNOC Drilling Company, ADNOC Gas, Dana Gas, Fugro.
What is the current market cap of Smart Sand? Smart Sand's current market cap is $82.8M
What is the current revenue of Smart Sand? Smart Sand's last 12 months revenue is $311M.
What is the current EV/Revenue multiple of Smart Sand? Current revenue multiple of Smart Sand is 0.4x.
Is Smart Sand profitable? Yes, Smart Sand is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Smart Sand? Smart Sand's last 12 months EBITDA is $39.6M.
What is Smart Sand's EBITDA margin? Smart Sand's last 12 months EBITDA margin is 13%.
What is the current EV/EBITDA multiple of Smart Sand? Current EBITDA multiple of Smart Sand is 3.2x.
What is the current FCF of Smart Sand? Smart Sand's last 12 months FCF is $21.0M.
What is Smart Sand's FCF margin? Smart Sand's last 12 months FCF margin is 7%.
What is the current EV/FCF multiple of Smart Sand? Current FCF multiple of Smart Sand is 6.1x.

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