$5.71
+12%Smart Sand, Inc., an integrated frac sand supply and services company, engages in the excavation, processing, and sale of sands or proppant for use in hydraulic fracturing operations in the oil and gas industry in the United States. It also provides logistics services; and SmartSystems, a wellsite proppant storage solution. The company sells its products primarily to oil and natural gas exploration and production companies, oilfield service companies, and industrial manufacturers. As of December 31, 2021, it had approximately 250 million tons of proven and probable recoverable sand reserves. Smart Sand, Inc. was incorporated in 2011 and is headquartered in The Woodlands, Texas.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $88.2M | $176.5M | $352.9M | $705.9M | $1.4B | $2.8B | $5.6B | $11.3B | $22.6B | $45.2B |
| Maintenance CapEx | -$4.6M | -$9.3M | -$18.6M | -$37.1M | -$74.2M | -$148.4M | -$296.8M | -$593.7M | -$1.2B | -$2.4B |
| Owner Earnings | $83.6M | $167.2M | $334.4M | $668.8M | $1.3B | $2.7B | $5.4B | $10.7B | $21.4B | $42.8B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $77.4M | $143.3M | $265.4M | $491.6M | $910.3M | $1.7B | $3.1B | $5.8B | $10.7B | $19.8B |
Snapshot
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Value Model
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Statements
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Earnings Call
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Dividends
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Analyst Expectations
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