Smart Sand Inc. (SND) exhibits 11.5% gross margins and -1.6% return on invested capital within Materials (Mining & Quarrying of Nonmetallic Minerals (No Fuels)), balanced against a 154.1x enterprise multiple and 4.8% implied options volatility.
Sustained 11.5% gross profitability converts into -1.4% operating margin and -1.6% ROIC, outpacing sector cost of capital.
ROIC: -1.6% // GM: 11.5%YoY revenue trajectory of +6.0% paired with 15.69% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +6.0% // FCF YLD: 15.69%Altman Z-Score of 2.58 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.
ALTMAN Z: 2.58 // F-SCORE: 7/9Trading at 154.1x trailing P/E (140.0x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 154.1x // EV/EBITDA: —Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $4.89 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Mining & Quarrying of Nonmetallic Minerals (No Fuels) require continuous execution to defend 0.4% net margins.
NET MARGIN: 0.4% // D/E: 0.04x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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