Stock fact sheet · data as of
Smart Sand, Inc. (SND): fair value, margin of safety and Wheel Score
Ticker symbol SND · Energy · Oil & Gas Equipment & Services · United States · Blend Income
Is SND undervalued?
At 4.37 (close of 5 Nov 2026), SND trades 60% below the GLS average fair value of 10.99. That average comes from 9 models run on the latest filings, and 7 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Smart Sand, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between EPV (2.97) and Payback Time (26.45). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for SND, so the nightly engine files it under Blend (value score 71, growth score 65, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for SND
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 5.24 | +20% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 6.04 | +38% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 15.28 | +250% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 6.68 | +53% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 16.35 | +274% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 16.26 | +272% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 26.45 | +505% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 3.68 | -16% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 2.97 | -32% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -0.2872 | -107% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 2.25 | -49% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Smart Sand, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. A GLS Moat score of 3.0/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 0.5%, ROE 0.6%, ROA 0.4% - with debt at 0.15 times equity and a free-cash-flow yield of 18.7%.
The dividend yield is high at 5.72% (payout ratio 95%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Sand 100% (quarter Q2 FY2026).
Institutional ownership scores 6/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 0.5% |
|---|---|---|---|
| GLS Moat | 3.0 / 10 | ROE | 0.6% |
| Debt / equity | 0.15 | ROA | 0.4% |
| Free-cash-flow yield | 18.7% | Payout ratio | 95% |
| Institutions | 6 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 37: Weak
With a Wheel Score of 37 Smart Sand, Inc. sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (2,668 open interest, 16 a day); and filter 7, a premium worth selling - implied volatility 111% (over 80%); and filter 8, big enough - market cap $185M (under $1.0B); and filter 9, not a penny stock - price 4.37 (under $5); Option trading (weak) is its weakest part.
Implied volatility is 111%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 2,668 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 377k shares a day on a market cap of $185M, with a beta of 0.36 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (2,668 open interest, 16 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 111% (over 80%) |
| 8 | Big enough | Fails | market cap $185M (under $1.0B) |
| 9 | Not a penny stock | Fails | price 4.37 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 60% below fair value | |
| Premium | Weak | implied volatility 111% | |
| Moat | Weak | moat 3.0/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Strong | Red Flags score 100/100 | |
| Option trading | Weak | 16 contracts a day, 2,668 open interest | |
| Stability | Fair | beta 0.36, $185M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Smart Sand, Inc. reports earnings on 11 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Oil & Gas Equipment & Services
The 12 companies below are the closest to Smart Sand, Inc. by market cap within the Oil & Gas Equipment & Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| OMSE OMS Energy Technologies Inc. | 3.94 | 43.89 | +91% | 36No options | $167M |
| BOOM DMC Global Inc. | 7.90 | 19.18 | +59% | 42Weak | $162M |
| NOA North American Construction Group Ltd. | 11.43 | 20.43 | +44% | 38Weak | $308M |
| RNGR Ranger Energy Services, Inc. | 13.57 | 24.75 | +45% | 31Weak | $318M |
| KLXE KLX Energy Services Holdings, Inc. | 1.01 | 8.40 | +88% | 25Weak | $107M |
| NINE Nine Energy Service, Inc. | 7.26 | 33.09 | +78% | 28No options | $101M |
| NGS Natural Gas Services Group, Inc. | 28.95 | 43.02 | +33% | 43Weak | $373M |
| CLB Core Laboratories N.V. | 9.65 | 10.54 | +8% | 35Weak | $442M |
| LSE Leishen Energy Holding Co., Ltd. | 4.43 | 0.6214 | -613% | 18No options | $75M |
| OIS Oil States International, Inc. | 8.53 | 8.37 | -2% | 27Weak | $510M |
| DTI Drilling Tools International Corp. | 1.50 | 3.44 | +56% | 33No options | $53M |
| DWSN Dawson Geophysical Company | 1.68 | 3.40 | +51% | 27No options | $52M |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about SND
Is SND undervalued right now?
By the GLS models, yes: at 4.37 the stock is 60% below the average fair value of 10.99 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of SND and what does it mean?
SND scores 37 out of 100 (Weak) - it fails Wheel Trade Filters 1, 7, 8, 9. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for SND?
10.99 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Smart Sand, Inc. report earnings next?
The next earnings report is due on 11 Nov 2026 (after the close), 6 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does SND have listed options, and how liquid are they?
Yes. The nightly snapshot found 6 listed contracts with 2,668 open interest across all expiries and implied volatility of 111% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.