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Side-by-side financial comparison of AerSale Corp (ASLE) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
AerSale Corp is the larger business by last-quarter revenue ($90.9M vs $86.0M, roughly 1.1× Smart Sand, Inc.). AerSale Corp runs the higher net margin — 5.9% vs 1.4%, a 4.6% gap on every dollar of revenue. On growth, AerSale Corp posted the faster year-over-year revenue change (-4.0% vs -5.8%). Smart Sand, Inc. produced more free cash flow last quarter ($20.4M vs $9.8M). Over the past eight quarters, Smart Sand, Inc.'s revenue compounded faster (1.8% CAGR vs 0.2%).
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
ASLE vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $90.9M | $86.0M |
| Net Profit | $5.4M | $1.2M |
| Gross Margin | 34.1% | 13.0% |
| Operating Margin | 7.8% | -3.1% |
| Net Margin | 5.9% | 1.4% |
| Revenue YoY | -4.0% | -5.8% |
| Net Profit YoY | 99.7% | -68.5% |
| EPS (diluted) | $0.10 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $90.9M | $86.0M | ||
| Q3 25 | $71.2M | $92.8M | ||
| Q2 25 | $107.4M | $85.8M | ||
| Q1 25 | $65.8M | $65.6M | ||
| Q4 24 | $94.7M | $91.4M | ||
| Q3 24 | $82.7M | $63.2M | ||
| Q2 24 | $77.1M | $73.8M | ||
| Q1 24 | $90.5M | $83.1M |
| Q4 25 | $5.4M | $1.2M | ||
| Q3 25 | $-120.0K | $3.0M | ||
| Q2 25 | $8.6M | $21.4M | ||
| Q1 25 | $-5.3M | $-24.2M | ||
| Q4 24 | $2.7M | $3.7M | ||
| Q3 24 | $509.0K | $-98.0K | ||
| Q2 24 | $-3.6M | $-430.0K | ||
| Q1 24 | $6.3M | $-216.0K |
| Q4 25 | 34.1% | 13.0% | ||
| Q3 25 | 30.2% | 16.1% | ||
| Q2 25 | 32.9% | 10.4% | ||
| Q1 25 | 27.3% | 4.2% | ||
| Q4 24 | 31.4% | 14.7% | ||
| Q3 24 | 28.6% | 10.3% | ||
| Q2 24 | 28.2% | 17.7% | ||
| Q1 24 | 31.8% | 14.2% |
| Q4 25 | 7.8% | -3.1% | ||
| Q3 25 | 4.0% | 5.8% | ||
| Q2 25 | 11.7% | -0.1% | ||
| Q1 25 | -10.1% | -10.8% | ||
| Q4 24 | 5.2% | 3.9% | ||
| Q3 24 | 2.4% | -7.8% | ||
| Q2 24 | -2.4% | 4.8% | ||
| Q1 24 | 5.2% | 0.9% |
| Q4 25 | 5.9% | 1.4% | ||
| Q3 25 | -0.2% | 3.2% | ||
| Q2 25 | 8.0% | 24.9% | ||
| Q1 25 | -8.0% | -37.0% | ||
| Q4 24 | 2.9% | 4.1% | ||
| Q3 24 | 0.6% | -0.2% | ||
| Q2 24 | -4.7% | -0.6% | ||
| Q1 24 | 6.9% | -0.3% |
| Q4 25 | $0.10 | $0.03 | ||
| Q3 25 | $0.00 | $0.08 | ||
| Q2 25 | $0.18 | $0.54 | ||
| Q1 25 | $-0.10 | $-0.62 | ||
| Q4 24 | $0.05 | $0.10 | ||
| Q3 24 | $0.01 | $0.00 | ||
| Q2 24 | $-0.07 | $-0.01 | ||
| Q1 24 | $0.12 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.4M | $22.6M |
| Total DebtLower is stronger | $1.3M | $15.0M |
| Stockholders' EquityBook value | $424.4M | $239.7M |
| Total Assets | $640.5M | $340.0M |
| Debt / EquityLower = less leverage | 0.00× | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $22.6M | ||
| Q3 25 | $5.3M | $5.1M | ||
| Q2 25 | $5.7M | $4.3M | ||
| Q1 25 | $4.7M | $5.1M | ||
| Q4 24 | $4.7M | $1.6M | ||
| Q3 24 | $9.8M | $7.2M | ||
| Q2 24 | $4.3M | $6.3M | ||
| Q1 24 | $2.6M | $4.6M |
| Q4 25 | $1.3M | $15.0M | ||
| Q3 25 | $1.5M | $14.3M | ||
| Q2 25 | $907.0K | $23.5M | ||
| Q1 25 | $1.1M | $13.7M | ||
| Q4 24 | $1.2M | $14.7M | ||
| Q3 24 | $376.0K | $15.7M | ||
| Q2 24 | $522.0K | $17.1M | ||
| Q1 24 | $3.5M | $25.5M |
| Q4 25 | $424.4M | $239.7M | ||
| Q3 25 | $417.1M | $239.9M | ||
| Q2 25 | $415.9M | $240.5M | ||
| Q1 25 | $406.5M | $219.9M | ||
| Q4 24 | $455.6M | $243.8M | ||
| Q3 24 | $451.5M | $243.6M | ||
| Q2 24 | $449.8M | $242.9M | ||
| Q1 24 | $452.0M | $242.5M |
| Q4 25 | $640.5M | $340.0M | ||
| Q3 25 | $646.3M | $343.1M | ||
| Q2 25 | $646.7M | $345.8M | ||
| Q1 25 | $646.1M | $326.9M | ||
| Q4 24 | $604.7M | $341.5M | ||
| Q3 24 | $601.5M | $335.8M | ||
| Q2 24 | $598.7M | $341.8M | ||
| Q1 24 | $571.7M | $349.3M |
| Q4 25 | 0.00× | 0.06× | ||
| Q3 25 | 0.00× | 0.06× | ||
| Q2 25 | 0.00× | 0.10× | ||
| Q1 25 | 0.00× | 0.06× | ||
| Q4 24 | 0.00× | 0.06× | ||
| Q3 24 | 0.00× | 0.06× | ||
| Q2 24 | 0.00× | 0.07× | ||
| Q1 24 | 0.01× | 0.11× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $11.4M | $22.4M |
| Free Cash FlowOCF − Capex | $9.8M | $20.4M |
| FCF MarginFCF / Revenue | 10.8% | 23.7% |
| Capex IntensityCapex / Revenue | 1.7% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.11× | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-29.1M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $22.4M | ||
| Q3 25 | $-8.9M | $18.2M | ||
| Q2 25 | $19.8M | $-5.1M | ||
| Q1 25 | $-45.2M | $8.7M | ||
| Q4 24 | $37.5M | $1.0M | ||
| Q3 24 | $10.4M | $5.8M | ||
| Q2 24 | $-15.3M | $14.9M | ||
| Q1 24 | $-21.5M | $-3.9M |
| Q4 25 | $9.8M | $20.4M | ||
| Q3 25 | $-9.8M | $14.8M | ||
| Q2 25 | $18.6M | $-7.8M | ||
| Q1 25 | $-47.6M | $5.2M | ||
| Q4 24 | $32.3M | $-840.0K | ||
| Q3 24 | $8.9M | $3.7M | ||
| Q2 24 | $-18.9M | $13.5M | ||
| Q1 24 | $-25.0M | $-5.5M |
| Q4 25 | 10.8% | 23.7% | ||
| Q3 25 | -13.8% | 15.9% | ||
| Q2 25 | 17.3% | -9.1% | ||
| Q1 25 | -72.4% | 7.9% | ||
| Q4 24 | 34.0% | -0.9% | ||
| Q3 24 | 10.7% | 5.8% | ||
| Q2 24 | -24.6% | 18.3% | ||
| Q1 24 | -27.7% | -6.6% |
| Q4 25 | 1.7% | 2.3% | ||
| Q3 25 | 1.3% | 3.6% | ||
| Q2 25 | 1.1% | 3.1% | ||
| Q1 25 | 3.7% | 5.4% | ||
| Q4 24 | 5.6% | 2.1% | ||
| Q3 24 | 1.9% | 3.4% | ||
| Q2 24 | 4.7% | 1.8% | ||
| Q1 24 | 3.9% | 2.0% |
| Q4 25 | 2.11× | 18.99× | ||
| Q3 25 | — | 6.05× | ||
| Q2 25 | 2.31× | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.89× | 0.28× | ||
| Q3 24 | 20.52× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -3.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
