Discounted Cash Flow

Smart Sand, Inc.

SND · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $59.2m $10.4m $24.2m 17.5% $0.43
2017 $137.2m (131.7%) $21.5m (107.4%) $-35.5m (-246.9%) 15.7% (-10.5%) $0.54 (25.6%)
2018 $212.5m (54.8%) $18.7m (-13.2%) $-45.2m (-27.1%) 8.8% (-43.9%) $0.46 (-14.8%)
2019 $233.1m (9.7%) $31.6m (69.2%) $19.1m (142.3%) 13.6% (54.3%) $0.79 (71.7%)
2020 $122.3m (-47.5%) $38.0m (20.0%) $16.9m (-11.4%) 31.0% (128.7%) $0.94 (19.0%)
2021 $126.6m (3.5%) $-50.7m (-233.5%) $21.2m (25.4%) -40.0% (-229.0%) $-1.21 (-228.7%)
2022 $255.7m (101.9%) $-703.0k (98.6%) $-7.3m (-134.5%) -0.3% (99.3%) $-0.02 (98.3%)
2023 $296.0m (15.7%) $4.6m (761.3%) $8.0m (208.9%) 1.6% (671.4%) $0.12 (700.0%)
2024 $311.4m (5.2%) $3.0m (-35.6%) $10.9m (36.4%) 1.0% (-38.8%) $0.08 (-33.3%)
2025 $330.2m (6.0%) $1.3m (-55.0%) $32.5m (199.6%) 0.4% (-57.6%) $0.03 (-62.5%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model