Is Smart Sand, Inc. overvalued or undervalued?

As of 13 May 2025, the valuation grade for Smart Sand, Inc. has moved from attractive to risky, indicating a significant downgrade in its financial outlook. The company is currently considered overvalued based on its financial metrics. Key ratios include a Price to Book Value of 0.40, an EV to EBITDA of 3.74, and a negative ROE of -8.95%.
In comparison to peers, Northwest Pipe Co. has a P/E ratio of 11.69 and an EV to EBITDA of 6.56, while Smith-Midland Corp. shows a P/E of 20.41 and an EV to EBITDA of 12.28. These figures highlight that Smart Sand, Inc. is lagging behind its peers in profitability and valuation metrics. Additionally, the company's recent stock performance has been underwhelming, with a year-to-date return of -11.11%, contrasting sharply with the S&P 500's gain of 2.44% in the same period.