Smart Sand, Inc. Financial Ratios — SND Stock

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	103.17	49.06	47.32	37.09	-52.8	-1	6.43	4.05	1.9
Return on Assets (%)	- -	4.12	6.78	10.24	7.09	9.25	9.6	-12.64	-0.19	1.32	0.87	0.39
Return on Capital (%)	- -	15.19	37.96	- -	33.27	28.14	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	14.52	9.82	- -	15.26	15.73	- -	- -	- -	- -	- -	- -
Gross Margin (%)	56.09	55.97	55.14	26.9	32.65	34.78	14.81	-12.56	11.57	14.04	14.4	11.48
EBITDA Margin (%)	43.14	45.92	45.37	19.41	29.09	35.86	11.13	-13.61	9.33	9.65	10.85	7.58
Operating Margin (%)	37.8	34.77	34.43	13.63	20.55	23.92	-7.61	-34.22	-1.34	0.1	1.31	-1.52
Incremental Operating Margin (%)	- -	44.86	33.02	-2.16	33.15	58.71	- -	- -	- -	9.25	24.47	- -
Pretax Margin (%)	25.05	19.12	33.38	13.64	12.05	16.92	20.41	-47.13	-1.53	-0.76	0.08	-1.69
Profit Margin (%)	11.08	10.46	17.52	15.69	9.46	13.57	31.02	-40.01	-0.27	1.57	0.96	0.41
Net Income to Common Margin (%)	11.08	10.46	17.52	15.69	9.46	13.57	31.02	-40.01	-0.27	1.57	0.96	0.41
Effective Tax Rate (%)	55.75	45.28	47.51	- -	21.51	19.8	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	0.07	0.1	0.04	- -	- -	- -	- -	- -	- -	- -	130.41	442.23
Sustainable Growth Rate (%)	- -	- -	- -	103.17	49.06	47.32	37.09	-52.8	-1	6.43	-1.23	-6.51

Credit (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	61	66	2	1	49	63	63	55	45	44	37	36
ST Debt	- -	2	1	1	1	19	14	16	17	26	14	13
LT Debt	61	65	1	- -	48	44	49	39	27	18	24	23
Total Debt/EBITDA	2.09	3.03	0.07	0.03	0.79	0.75	4.66	-3.2	1.87	1.53	1.1	1.45
Net Debt/EBITDA	1.99	2.78	-1.71	-1.29	0.75	0.37	1.26	0.2	0.4	0.43	0.31	-0.39
Total Debt/EBIT	2.38	4	0.09	0.05	1.12	1.13	-6.81	-1.27	-13.02	146.82	9.15	-7.2
Net Debt/EBIT	2.27	3.67	-2.26	-1.84	1.07	0.56	-1.84	0.08	-2.82	41.3	2.6	1.96
EBITDA to Interest Expense	3.75	2.8	3.19	59.18	27.28	23.08	6.51	-8.71	14.84	22.46	19.1	17.04
EBITDA-CapEx/Interest Expense	-0.19	-0.96	2.89	-54.51	-15.12	16.03	2.39	-14.38	6.92	4.35	15.14	9.15
EBIT to Interest Expense	3.29	2.12	2.42	41.57	19.27	15.4	-4.45	-21.9	-2.13	0.23	2.3	-3.42
Interest Expense	8	8	8	- -	2	4	2	2	2	1	2	1
Common Equity/Total Assets	-4.84	-0.22	5.82	12.82	15.71	22.94	28.36	18.89	19.43	21.54	21.45	20.03
Long-Term Debt/Equity (%)	- -	1,731.91	0.6	- -	22.88	17.8	17.13	16.19	11.27	7.23	9.69	9.62
Long-Term Debt/Capital (%)	108.59	97.75	7.22	- -	48.36	29.87	26.77	31.03	23.98	14.79	21.37	22.1
Long-Term Debt/Total Assets (%)	55.5	48.72	0.5	- -	14.95	12.03	11.57	10.44	7.62	5.05	6.91	6.78
Total Debt/Equity (%)	-3,134.13	1,779.59	1.27	0.45	23.27	25.65	21.97	22.89	18.29	18.06	15.27	15.09
Total Debt/Capital (%)	109.47	100.45	15.24	2.65	49.19	43.04	34.34	43.87	38.91	36.97	33.69	34.69
Total Debt/Total Assets (%)	55.95	50.06	1.05	0.35	15.21	17.33	14.83	14.76	12.37	12.63	10.9	10.64
Net Debt to Equity	-2,988.71	1,630.73	-32.29	-18.13	22.27	12.7	5.94	-1.43	3.97	5.08	4.34	-4.11
Net Debt/Capital (%)	105.91	97.81	132.76	1,530.52	47.78	21.7	9.91	-3.45	8.87	10.96	9.72	-12.04
EBITDA	29	22	27	27	62	84	14	-17	24	29	34	25
EBITDA-CapEx	-1	-7	24	-25	-34	58	5	-28	11	6	27	13
Operating Income (Loss)	26	17	20	19	44	56	-9	-43	-3	- -	4	-5

Liquidity (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.09	0.08	3.39	1.01	0.06	0.07	0.31	0.53	0.11	0.11	0.04	0.45
Current Ratio	2.49	0.34	4.74	2.12	2.03	2.3	3.01	1.52	1.31	1.14	1.75	1.76
Quick Ratio	1.08	0.2	3.81	1.72	1.15	1.66	2.2	1.03	0.84	0.6	1.12	1.09
CFO/Avg Current Liab	- -	1.07	0.86	0.65	1.72	1.38	0.66	0.76	0.11	0.58	0.37	0.95
Common Equity/Total Assets	-4.84	-0.22	5.82	12.82	15.71	22.94	28.36	18.89	19.43	21.54	21.45	20.03
Long-Term Debt/Equity (%)	- -	1,731.91	0.6	- -	22.88	17.8	17.13	16.19	11.27	7.23	9.69	9.62
Long-Term Debt/Capital (%)	108.59	97.75	7.22	- -	48.36	29.87	26.77	31.03	23.98	14.79	21.37	22.1
Long-Term Debt/Total Assets (%)	55.5	48.72	0.5	- -	14.95	12.03	11.57	10.44	7.62	5.05	6.91	6.78
Total Debt/Equity (%)	-3,134.13	1,779.59	1.27	0.45	23.27	25.65	21.97	22.89	18.29	18.06	15.27	15.09
Total Debt/Capital (%)	109.47	100.45	15.24	2.65	49.19	43.04	34.34	43.87	38.91	36.97	33.69	34.69
Total Debt/Total Assets (%)	55.95	50.06	1.05	0.35	15.21	17.33	14.83	14.76	12.37	12.63	10.9	10.64
CFO/Total Liabilities	19.84	23.83	86.11	27.52	45.89	37.87	18.39	24.42	4.65	29.79	18.28	43.98
CFO/CapEx	0.72	1.05	10.6	0.31	0.53	1.75	2.96	2.89	0.43	1.35	2.55	3.8
Altman's Z-Score	1.47	0.48	13.6	4.85	2	2.2	1.14	0.64	1.41	1.64	1.92	1.35

Working Capital (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	9	16.1	9.56	10.03	5.98	1.9	2.9	9.61	10.04	9.7	9.24
Days Sales Outstanding	- -	40.55	22.67	38.19	36.39	61.01	191.91	125.66	37.98	36.37	37.64	39.52
Inventory Turnover	- -	3.08	3.46	10.09	10.18	7.6	5.14	8.35	12.85	10.82	10.28	10.41
Days Inventory Outstanding	- -	118.65	105.57	36.16	35.85	48.01	71.01	43.73	28.41	33.72	35.51	35.05
Accounts Payable Turnover	- -	10.82	22.51	7.16	8.12	20.25	28.2	23.57	20.19	17.13	16.03	22.59
Accounts Payable Turnover Days	- -	33.75	16.21	50.97	44.93	18.03	12.94	15.49	18.08	21.31	22.77	16.16
Cash Conversion Cycle	- -	125.46	112.03	23.39	27.3	90.99	249.97	153.9	48.32	48.78	50.38	58.41
Inventory to Cash Days	- -	-78.1	-82.89	2.03	0.55	13	120.9	81.92	9.57	2.65	2.12	4.48
Inventories	9	5	10	10	19	21	19	15	20	27	25	31
Raw Materials	- -	- -	- -	1	3	3	4	5	6	9	12	14
Work In Process	- -	- -	13	8	11	14	10	3	6	9	7	9
Finished Goods	- -	- -	- -	1	5	4	4	7	8	8	7	8
Other Inventory	9	5	7	9	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	642	348	90	101	69	74	76	75	87	- -
- Cash & Cash Equivalents	1	4	47	35	1	3	12	26	6	6	2	23
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	61	66	2	1	49	63	63	55	45	44	37	36
Enterprise Value	61	62	598	314	137	161	121	104	115	113	123	14
Total Capital	56	66	12	32	99	146	185	126	114	118	111	104
Total Debt/Capital (%)	109.47	100.45	15.24	2.65	49.19	43.04	34.34	43.87	38.91	36.97	33.69	34.69
Total Debt / EV	1.01	1.06	- -	- -	0.36	0.39	0.52	0.53	0.39	0.39	0.3	2.65
EV/Sales	0.89	1.31	10.09	2.29	0.64	0.69	0.99	0.82	0.45	0.38	0.39	0.04
EV/EBITDA	2.06	2.85	22.24	11.8	2.22	1.93	8.89	- -	4.82	3.95	3.64	0.54
EV/EBIT	2.35	3.77	29.31	16.8	3.14	2.9	- -	- -	- -	378.69	30.25	- -
EV/Cash Flow to Firm	2.36	1.79	19.2	19.47	2.6	3.4	4.21	3.05	20.13	3.98	3.16	0.31
EV/Free Cash Flow to Firm	1.07	0.97	17.76	4.67	0.92	2.21	3.24	2.29	6.23	2.2	2.68	0.25
Diluted Market Cap	- -	- -	647	349	90	102	69	74	76	75	87	- -
Diluted Enterprise Value	61	62	602	315	137	162	121	104	115	113	123	14
EV per Share	1.77	1.82	15.4	7.82	3.39	4.02	3	2.49	2.71	2.9	3.17	- -
TTM Sales	68	48	59	137	212	233	122	127	256	296	311	330
TTM EBITDA	29	22	27	27	62	84	14	-17	24	29	34	25
TTM Operating Income	26	17	20	19	44	56	-9	-43	-3	- -	4	-5
TTM Cash Flow to Firm	26	35	31	16	53	48	29	34	6	28	39	44
TTM Free Cash Flow to Firm	56	64	34	67	149	73	37	45	18	51	46	55

Multiples (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	22.13	5.23	0.61	1.45	2.03	1.7	4.18	1.39	3.51	- -
EV/EBIT	2.35	3.77	29.31	16.8	3.14	2.9	- -	- -	- -	378.69	30.25	- -
Enterprise Value	61	62	598	314	137	161	121	104	115	113	123	14
Low Price	- -	- -	10.3	4.81	1.92	2.01	0.55	1.73	1.37	1.44	1.65	1.76
EV/Sales	0.89	1.31	10.09	2.29	0.64	0.69	0.99	0.82	0.45	0.38	0.39	0.04
EV/EBITDA	2.06	2.85	22.24	11.8	2.22	1.93	8.89	- -	4.82	3.95	3.64	0.54
Price/Earnings	- -	- -	61.89	16.18	4.46	3.2	1.82	- -	- -	16.17	29.18	- -
Price/Earnings Average	- -	- -	58.29	19.85	11.51	3.66	1.47	-2.03	-148.61	15.75	27.03	- -
Price/Earnings High	- -	- -	226.64	41.07	22.24	5.94	2.72	-3.43	-298.61	22.2	36.32	- -
Price/Earnings Low	- -	- -	38.52	8.98	3.86	2.55	0.58	-1.43	-82.64	12.06	21.4	- -
Price/Book Value	- -	- -	63.59	11.01	1.78	1.21	0.57	1.05	1.09	1.01	1.19	- -
Price/Book Value Average	- -	- -	59.89	13.51	4.6	1.39	0.46	1.45	1.49	0.98	1.1	- -
Price/Book Value High	- -	- -	232.85	27.95	8.89	2.25	0.85	2.46	3	1.38	1.48	- -
Price/Book Value Low	- -	- -	39.58	6.11	1.54	0.97	0.18	1.02	0.83	0.75	0.87	- -
Price/Tangible Book Value	- -	- -	4.51	1.83	0.47	0.43	0.25	0.32	0.32	0.32	0.37	- -
Price/Tangible Book Value Average	- -	- -	4.25	2.25	1.21	0.49	0.2	0.44	0.44	0.31	0.34	- -
Price/Tangible Book Value High	- -	- -	16.51	4.65	2.34	0.79	0.37	0.74	0.89	0.44	0.46	- -
Price/Tangible Book Value Low	- -	- -	2.81	1.02	0.41	0.34	0.08	0.31	0.25	0.24	0.27	- -
Price/Sales	- -	- -	10.85	2.54	0.42	0.43	0.57	0.59	0.3	0.25	0.28	- -
Price/Sales Average	- -	- -	10.21	3.11	1.09	0.5	0.45	0.81	0.41	0.25	0.26	- -
Price/Sales High	- -	- -	39.71	6.44	2.1	0.81	0.84	1.37	0.82	0.35	0.35	- -
Price/Sales Low	- -	- -	6.75	1.41	0.37	0.35	0.18	0.57	0.23	0.19	0.21	- -
Price/Cash Flow	- -	- -	24.06	22.28	1.76	2.27	2.71	2.29	14.01	2.43	4.89	- -
Price/Cash Flow Average	- -	- -	22.66	27.35	4.54	2.59	2.18	3.16	19.28	2.36	4.53	- -
Price/Cash Flow High	- -	- -	88.09	56.58	8.78	4.21	4.04	5.36	38.73	3.33	6.08	- -
Price/Cash Flow Low	- -	- -	14.97	12.38	1.52	1.81	0.87	2.23	10.72	1.81	3.58	- -
Price/Free Cash Flow Average	- -	- -	20.84	6.41	1.57	1.66	1.63	2.35	5.76	1.36	3.25	- -
Price/Free Cash Flow High	- -	- -	81.03	13.27	3.04	2.69	3.02	3.98	11.57	1.92	4.37	- -
Price/Free Cash Flow Low	- -	- -	13.77	2.9	0.53	1.16	0.65	1.66	3.2	1.04	2.57	- -
EV/Sales Average	0.89	1.31	9.46	2.87	1.31	0.76	0.88	1.04	0.56	0.37	0.37	0.04
EV/Sales High	0.89	1.31	38.96	6.2	2.33	1.06	1.27	1.61	0.97	0.48	0.46	0.04
EV/Sales Low	0.89	1.31	5.99	1.16	0.59	0.61	0.6	0.8	0.38	0.32	0.32	0.04
EV/EBITDA Average	2.06	2.85	20.85	14.78	4.51	2.11	7.89	-7.67	6.02	3.88	3.45	0.54
EV/EBITDA High	2.06	2.85	85.87	31.93	8	2.97	11.37	-11.8	10.43	4.93	4.27	0.54
EV/EBITDA Low	2.06	2.85	13.21	5.99	2.02	1.69	5.43	-5.91	4.07	3.28	2.95	0.54
EV/EBIT Average	2.35	3.77	27.48	21.04	6.38	3.16	-11.53	-3.05	-41.94	372.17	28.66	-2.71
EV/EBIT High	2.35	3.77	113.16	45.46	11.32	4.45	-16.62	-4.69	-72.75	472.79	35.5	-2.71
EV/EBIT Low	2.35	3.77	17.41	8.53	2.86	2.53	-7.93	-2.35	-28.38	314.65	24.52	-2.71
Last Price	- -	- -	16.55	8.66	2.22	2.52	1.72	1.78	1.79	1.93	2.25	4
High Price	- -	- -	60.6	21.99	11.06	4.68	2.56	4.16	4.95	2.65	2.8	4.51
Enterprise Value Average	61	62	560	394	279	176	107	132	144	111	117	14
Enterprise Value High	61	62	2,308	850	494	248	155	203	249	141	144	14
Enterprise Value Low	61	62	355	160	125	141	74	102	97	94	100	14

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	32	32	39	40	40	40	42	42	43	38	39	39
Diluted Weighted Avg Shares	34	34	39	40	40	40	40	42	42	39	39	- -
Basic Weighted Avg Shares	34	34	39	40	40	40	40	42	42	39	39	- -
Revenue per Share	1.99	1.39	1.53	3.41	5.26	5.81	3.04	3.03	6.03	7.6	8.02	- -
EBITDA per Share	0.86	0.64	0.69	0.66	1.53	2.08	0.34	-0.41	0.56	0.73	0.87	- -
Operating Income per Share	0.75	0.48	0.53	0.47	1.08	1.39	-0.23	-1.04	-0.08	0.01	0.1	- -
Basic EPS, GAAP	0.22	0.15	0.27	0.54	0.5	0.79	0.94	-1.21	-0.02	0.12	0.08	- -
Basic EPS from Cont Ops	0.22	0.15	0.27	0.54	0.5	0.79	0.94	-1.21	-0.02	0.12	0.08	- -
Diluted EPS, GAAP	0.22	0.15	0.27	0.53	0.5	0.78	0.94	-1.21	-0.02	0.12	0.08	- -
Diluted EPS from Cont Ops	0.22	0.15	0.27	0.53	0.5	0.78	0.94	-1.21	-0.02	0.12	0.08	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.1	- -
Cash Flow per Share	0.65	0.9	0.69	0.39	1.26	1.11	0.63	0.78	0.13	0.8	0.46	- -
Free Cash Flow per Basic Share	-0.26	0.04	0.62	-0.88	-1.12	0.48	0.42	0.51	-0.17	0.2	0.28	- -
Cash & Equivalents per Share	0.02	0.11	1.2	0.86	0.04	0.07	0.29	0.61	0.13	0.16	0.04	- -
Book Value per Share	-0.15	-0.01	0.26	0.79	1.24	2.08	3.01	1.69	1.65	1.91	1.89	- -
Tangible Book Value per Share	-0.06	0.11	3.67	4.73	4.73	5.89	6.97	5.59	5.58	6.07	6.15	- -

Smart Sand, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)