Flagship explainer

What drives Smart Sand, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity1%Tax burden−24%net income ÷ pretax incomeInterest burden125%pretax ÷ operating incomeOperating margin−1%operating income ÷ revenueAsset turnover0.97×revenue ÷ average assetsEquity multiplier1.41×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$1.3MFY2025
Income before tax−$5.6MFY2025
Operating income−$4.5MFY2025
$330MFY2025
Ending assets$340MFY2025
Beginning assets$342MFY2024
$240MFY2025
$244MFY2024
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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