SMID

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Smith-Midland Corp.

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Key Metrics

Previous Close: $22.19
52-Week Range: $22.00 – $42.15
Market Cap: $117.71M
P/E (TTM): 15.30
EPS (TTM): 1.45
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 2.06
PEG Ratio: 1.20
Return on Equity: 14.54%
Return on Assets: 8.04%
Gross Margin: 23.46%
Operating Margin: 8.50%
Profit Margin: 8.63%
Current Ratio: 4.06
Debt/Equity: 0.07
Total Debt: $4.22M
Free Cash Flow: $-336.88K
Revenue Growth: -10.80%
Earnings Growth: -66.90%
Enterprise Value: $111.26M

SMID Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$50.13M	$59.58M	$78.51M	$93.45M
Cost of Revenue	$40.66M	$48.93M	$58.50M	$67.41M
Gross Profit	$9.47M	$10.65M	$20.01M	$26.04M
Selling, General & Admin	$8.62M	$9.53M	$10.11M	$9.04M
Operating Expenses	$8.62M	$9.53M	$10.11M	$9.04M
Operating Income	$854.00K	$1.12M	$9.90M	$16.99M
EBITDA	$4.09M	$3.98M	$12.71M	$20.14M
Pretax Income	$945.00K	$1.32M	$9.82M	$17.03M
Income Tax	$145.00K	$528.00K	$2.14M	$4.52M
Net Income	$800.00K	$795.00K	$7.67M	$12.51M
Diluted EPS	0.15	0.15	1.45	2.36
Diluted Shares	5.25M	5.29M	5.29M	5.30M

SMID Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$6.73M	$9.18M	$7.55M	$11.88M
Receivables	$17.69M	$17.73M	$20.77M	$28.42M
Inventory	$3.82M	$5.15M	$6.68M	$6.93M
Current Assets	$28.94M	$33.33M	$35.85M	$48.75M
Total Assets	$54.31M	$61.35M	$67.99M	$87.73M
Current Liabilities	$11.22M	$16.02M	$15.01M	$14.33M
Long-Term Debt	$5.73M	$5.09M	$4.44M	$3.80M
Total Debt	$6.47M	$5.77M	$5.21M	$4.54M
Total Liabilities	$21.26M	$27.19M	$26.25M	$33.42M
Retained Earnings	$25.66M	$26.39M	$34.07M	$46.58M
Shareholders' Equity	$33.05M	$34.16M	$41.74M	$54.30M
Working Capital	$17.72M	$17.31M	$20.84M	$34.41M

SMID Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$6.33M	$7.73M	$5.16M	$14.30M
Capital Expenditure	-$2.75M	-$5.01M	-$6.20M	-$9.34M
Free Cash Flow	-$9.08M	$2.72M	-$1.04M	$4.96M
Depreciation & Amortisation	$2.88M	$2.40M	$2.66M	$2.89M
Stock-Based Compensation	$505.00K	$375.00K	$45.00K	$59.00K
Investing Cash Flow	-$2.63M	-$4.66M	-$6.15M	-$9.32M
Financing Cash Flow	$2.20M	-$619.00K	-$635.00K	-$647.00K
Net Change in Cash	-$6.77M	$2.45M	-$1.63M	$4.34M

SMID Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$22.70M	$26.19M	$21.45M	$23.11M	$21.57M	$23.36M
Cost of Revenue	$15.72M	$18.40M	$15.69M	$17.59M	$17.27M	$17.94M
Gross Profit	$6.97M	$7.79M	$5.76M	$5.52M	$4.30M	$5.42M
Selling, General & Admin	$2.59M	$2.27M	$1.91M	$2.28M	$2.58M	$3.43M
Operating Expenses	$2.59M	$2.27M	$1.91M	$2.28M	$2.58M	$3.43M
Operating Income	$4.39M	$5.52M	$3.85M	$3.23M	$1.73M	$1.99M
EBITDA	$5.07M	$6.17M	$4.53M	$4.36M	$2.76M	$2.92M
Pretax Income	$4.35M	$5.48M	$3.87M	$3.33M	$1.76M	$1.81M
Income Tax	$1.02M	$1.31M	$994.00K	$1.20M	$422.00K	$434.00K
Net Income	$3.33M	$4.17M	$2.88M	$2.13M	$1.34M	$1.38M
Diluted EPS	0.62	0.79	0.54	—	0.25	0.26
Diluted Shares	5.30M	5.30M	5.30M	—	5.31M	5.31M

SMID Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$9.01M	$7.10M	$13.38M	$11.88M	$13.22M	$10.66M
Receivables	$23.83M	$31.55M	$26.86M	$28.42M	$29.91M	$25.76M
Inventory	$7.49M	$7.18M	$7.89M	$6.93M	$7.22M	$8.53M
Current Assets	$41.57M	$47.45M	$49.81M	$48.75M	$51.62M	$46.08M
Total Assets	$74.66M	$81.18M	$85.44M	$87.73M	$92.19M	$86.69M
Current Liabilities	$17.25M	$16.48M	$18.03M	$14.33M	$16.58M	$11.35M
Long-Term Debt	$4.27M	$4.10M	$3.93M	$3.80M	$3.63M	$3.48M
Total Debt	$5.03M	$4.86M	$4.69M	$4.54M	$4.37M	$4.22M
Total Liabilities	$29.59M	$31.93M	$33.31M	$33.42M	$36.54M	$29.65M
Retained Earnings	$37.40M	$41.57M	$44.45M	$46.58M	$47.91M	$49.30M
Shareholders' Equity	$45.07M	$49.24M	$52.13M	$54.30M	$55.66M	$57.04M
Working Capital	$24.32M	$30.96M	$31.78M	$34.41M	$35.04M	$34.73M

SMID Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$2.22M	$183.00K	$9.31M	$2.59M	$3.13M	-$485.00K
Capital Expenditure	-$595.00K	-$1.92M	-$2.87M	-$3.96M	-$1.63M	-$1.93M
Free Cash Flow	$1.62M	-$1.74M	$6.45M	-$1.37M	$1.50M	-$2.41M
Depreciation & Amortisation	$671.00K	$631.00K	$613.00K	$972.00K	$951.00K	$1.03M
Stock-Based Compensation	$4.00K	$6.00K	$3.00K	$46.00K	$15.00K	$0.00
Investing Cash Flow	-$595.00K	-$1.92M	-$2.87M	-$3.94M	-$1.63M	-$1.93M
Financing Cash Flow	-$164.00K	-$168.00K	-$172.00K	-$143.00K	-$166.00K	-$145.00K
Net Change in Cash	$1.46M	-$1.91M	$6.28M	-$1.49M	$1.33M	-$2.56M

Market Snapshot

About

Smith-Midland Corp. is a precast concrete manufacturer specializing in proprietary and custom products for transportation, utilities, and building construction. The company produces architectural and structural precast concrete, utility vaults, highway sound barriers, and safety barriers. Smith-Midland operates manufacturing facilities serving markets along the eastern United States.