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Smart Sand vs United States Lime & Minerals: SND and USLM compared
Smart Sand is the larger company: $115M of revenue in its latest quarter (Q2 2026) against $106M for United States Lime & Minerals (Q3 2026). Smart Sand is growing faster (+34% against +4% a year earlier). United States Lime & Minerals is more profitable, with an operating margin of 42.1% against 8.7%.
Where the money goes: SND and USLM
Smart Sand (SND) · Q2 2026
Smart Sand, Q2 2026: revenue $115M (+34% year over year), operating margin 8.7%, net earnings $10.2M, operating cash flow $3.4M. The chart follows the revenue to costs, profit and cash.
United States Lime & Minerals (USLM) · Q3 2026
United States Lime & Minerals, Q3 2026: revenue $106M (+4% year over year), operating margin 42.1%, net earnings $38.0M, operating cash flow $52.2M. The chart follows the revenue to costs, profit and cash.
| Smart Sand (SND) | United States Lime & Minerals (USLM) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $115M | $106M |
| Revenue growth, Y/Y | +34% | +4% |
| Gross margin | 17.2% | 47.8% |
| Operating margin | 8.7% | 42.1% |
| Net earnings | $10.2M | $38.0M |
| Net margin | 8.8% | 35.8% |
| Operating cash flow | $3.4M | $52.2M |
| Free cash flow | — | $38.2M |
| Market value | — | $3.1B |
| P/E | — | 23.3× |
| Analysts’ mean target | — | $131.00 |
Where the revenue comes from
Smart Sand
- Sand: $114M (99%)
- SmartSystems: $1.2M (1%)
Questions
Which is bigger, Smart Sand or United States Lime & Minerals?
Smart Sand is the larger company: $115M of revenue in its latest quarter (Q2 2026) against $106M for United States Lime & Minerals (Q3 2026).
Is Smart Sand or United States Lime & Minerals growing faster?
Smart Sand is growing faster (+34% against +4% a year earlier).
Which is more profitable, Smart Sand or United States Lime & Minerals?
United States Lime & Minerals is more profitable, with an operating margin of 42.1% against 8.7%.
More: Smart Sand earnings · how Smart Sand makes money · United States Lime & Minerals earnings · how United States Lime & Minerals makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 11, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.