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Friday 6 November 2026 Export SMID’s income statement to Excel — free account

Smith-Midland Corp.

SMID Basic Materials Building Materials

Smith-Midland Corp.’s revenue for fiscal 2025 (year ended December 2025) was $93.4 million, up 19.0% from fiscal 2024.

Revenue
−10.8%
EPS
−67.1%
Free cash flow
−38.7%
Total debt
−15.2%

Quarter to June 2026, against a year earlier

25.39 0.71 +2.88%
Market cap
$134.5M
P/E
17.5×
Fwd P/E
137×
Dividend yield
—
F-score
7/9
Altman Z
6.38
Beneish M
−2.21
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.11
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — 2 — —
Sell — — — — — — — — — — — —
Insider Ownership 14.08%

Capital & Financial Ratios $m

Size
Market Cap 134.47
Revenue ttm 89.50
Net income ttm 7.73
Free cash flow ttm 4.19
Net debt Q (7.19)
Valuation
P/E 17.51
Forward P/E 137.00 (above 35: high)
Price / sales 1.51
Forward P/S Powerpack
Price / FCF 32.17
Price / book 2.36
Financial health
Current ratio Q 4.06 (at or above 1.5: strong)
Debt / equity Q 0.06 (at or below 0.5: strong)
Interest coverage Q 30.08
Growth
Revenue growth Q −10.78% (below 0%: shrinking)
Operating income growth Q −64.03% (below 0%: shrinking)
EPS, this year —
EPS, next year A —
Revenue, next year A −1.07% (below 0%: weak)
EPS, past 5 yrs +35.85% (at or above 15%: strong)
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 1.3×; over the ten years it ranged from 0.3× in 2016 to 4.7× in 2021.
P/E against its own 10 years 50.32%
10-year low 10-year high
P/S against its own 10 years 51.27%
10-year low 10-year high
P/B against its own 10 years 41.51%
10-year low 10-year high
EV/Sales against its own 10 years 51.12%
10-year low 10-year high
EV/FCF against its own 10 years 52.41%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 9 8 12 11
Receivables 18 21 28 26
Inventory 5 7 7 9
Other — — — —
33 36 49 46
2023 2024 2025 Q'26
Payables 7 5 5 6
ST’ Debt — — — —
Other 3 2 2 1
16 15 14 11

Compound Annual Growth %

10y 5y 3y
Sales 12.33% 16.33% 23.07%
Cash Flow 94.04% 13.82% 0.00%
Earnings 28.18% 36.23% 150.04%
Book Value 16.90% 18.09% 18.00%

EPS $

Mar Jun Sep Dec Year
’26 0.25 0.26 — — —
’25 0.62 0.79 0.54 0.40 2.36
’24 0.21 0.37 0.59 0.27 1.45
’23 0.02 (0.15) 0.24 0.04 0.15
’22 (0.02) 0.17 0.00 0.00 0.15
’21 0.55 0.19 0.71 0.00 1.45
’20 (0.01) 0.09 0.30 0.13 0.51
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 22 23 — — —
’25 23 26 21 23 93
’24 17 20 24 19 79
’23 13 15 16 16 60
’22 10 13 12 14 50
’21 15 12 13 10 51
’20 10 10 13 11 44
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 3 0 — — —
’25 2 0 9 3 14
’24 (1) 3 4 (1) 5
’23 (2) 3 2 4 8
’22 (1) (1) (1) (3) (6)
’21 4 1 2 2 9
’20 1 1 3 2 7
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2 (2) — — —
’25 2 (2) 6 (1) 5
’24 (2) 1 2 (1) (1)
’23 (3) 1 1 3 3
’22 (1) (3) (2) (2) (9)
’21 4 1 2 (3) 4
’20 1 0 3 1 5
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 40 42 40 47 44 51 50 60 79 93 89 +9.9% — — — —
Gross margin, % 25.84 27.48 26.08 21.35 25.17 28.47 18.89 17.88 25.49 27.86 23.46 +2.0 pt
EBT 4 4 2 2 4 9 1 1 10 17 11 +16.5%
EBT margin, % 10.73 8.97 5.62 5.35 8.65 17.96 1.89 2.22 12.51 18.22 12.04 +7.5 pt
Net income 3 3 2 2 3 8 1 1 8 13 8 +17.9%
Per share, $
Per share, $ Revenue 8.12 8.27 7.92 9.08 8.46 9.73 9.58 11.33 14.84 17.61 16.86 +9.0%
Earnings 0.57 0.53 0.33 0.38 0.51 1.45 0.15 0.15 1.45 2.36 1.45 +17.1%
Cash flow 0.81 0.58 1.67 0.76 1.44 1.75 (1.21) 1.47 0.98 2.70 2.74 +14.3%
Capex (0.75) (0.53) (1.00) (0.85) (0.46) (0.94) (0.50) (0.89) (1.16) (1.76) (1.95) +10.0%
Free cash flow 0.06 0.05 0.66 (0.08) 0.98 0.82 (1.71) 0.58 (0.19) 0.94 0.79 +35.2%
Book value 2.89 3.41 3.71 4.05 4.56 6.10 6.32 6.50 7.89 10.24 10.75 +15.1%
Shares, m 5 5 5 5 5 5 5 5 5 5 5 +0.8%
Valuation, ×
Valuation, × P/E 9.30 13.00 22.00 16.22 18.43 32.33 134.67 271.14 30.66 15.46 17.51 56.3
P/S 0.65 0.83 0.94 0.66 1.12 4.83 2.13 3.47 3.00 2.06 1.51 2.0
P/B 1.84 2.02 2.02 1.48 2.07 7.71 3.23 6.06 5.63 3.55 2.36 3.6
EV/Sales 0.62 0.79 1.08 0.83 1.15 4.69 2.17 3.45 2.99 2.01 1.46 2.0
EV/FCF 80.92 143.50 12.94 (92.09) 9.91 55.91 (12.11) 67.02 (236.62) 37.61 31.10 6.7
Cash, $m
Cash, $m Operating cash flow 4 3 8 4 7 9 (6) 8 5 14 15 +15.2%
Capex (4) (3) (5) (4) (2) (5) (3) (5) (6) (9) (10) +10.9%
Free cash flow 0 0 3 0 5 4 (9) 3 (1) 5 4 +36.2%
Balance, $m
Balance, $m Working capital 10 11 10 9 14 14 18 17 21 34 35 +14.5%
Net debt (1) (2) 6 7 1 (10) (1) (4) (3) (8) (7) +23.3%
Shareholders’ equity 14 17 19 21 24 32 33 34 42 54 57 +16.0%
Returns, %
Returns, % ROA 13.42 10.20 4.78 4.67 6.01 15.17 1.49 1.37 11.87 16.06 9.21 +2.6 pt
ROIC 20.82 14.87 5.66 5.78 9.65 17.57 1.66 2.32 16.02 22.98 13.54 +2.2 pt
ROE 22.12 17.07 9.36 9.83 11.99 27.33 2.47 2.37 20.22 26.04 14.54 +3.9 pt
People
People Employees 203 242 220 232 200 200 232 247 264 285 — +3.8%
Revenue/emp, $m 0.20 0.17 0.18 0.20 0.22 0.25 0.22 0.24 0.30 0.33 — +5.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Smith-Midland Corp. vs peers in Building Materials (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
USLM United States Lime & Minerals, Inc. $3.4B 25.6× 24.3× +4.09% (above 0%: growing) −1.48% (below 0%: shrinking) +22.36% (above 0%: growing) 47.81% 42.10% Compare
KNF Knife River Corporation $3.3B 24.3× 22.6× +5.97% (above 0%: growing) −3.99% (below 0%: shrinking) −27.51% (below 0%: shrinking) 22.55% 16.79% Compare
TTAM Titan America SA $2.2B 12.3× 13.0× +9.64% (above 0%: growing) −17.86% (below 0%: shrinking) −14.52% (below 0%: shrinking) 24.04% 13.33% Compare
TGLS Tecnoglass Holdings Inc. $2.0B 15.8× 15.3× +15.55% (above 0%: growing) −41.49% (below 0%: shrinking) −111.60% (below 0%: shrinking) 37.26% 12.38% Compare
CPAC Cementos Pacasmayo S.A.A. $1.1B 14.2× — +21.44% (above 0%: growing) +74.75% (above 0%: growing) +66.54% (above 0%: growing) 44.86% 29.09% Compare
LOMA Loma Negra Compania Industrial Argentina S.A. Sponsored ADR $1.0B 30.3× 20.0× +6.10% (above 0%: growing) +1,566.67% (above 0%: growing) +116.93% (above 0%: growing) 19.18% 7.91% Compare
RMIX Suncrete, Inc. $676.1M — — — n/m — 29.12% (8.98%) Compare
SMID Smith-Midland Corp. $134.5M 17.5× 137× −10.78% (below 0%: shrinking) −67.09% (below 0%: shrinking) −38.74% (below 0%: shrinking) 23.19% 8.50%
RETO ReTo Eco-Solutions, Inc. $7.5M — (loss-making) — (loss-making) −45.95% (below 0%: shrinking) −146.15% (below 0%: shrinking) +62.10% (above 0%: growing) 7.59% 0.00% Compare
Median of peers $1.5B 20.1× 20.0× +6.10% −3.99% +22.36% 26.58% 12.86%

All 17 Building Materials stocks →

Pay and ownership Proxy statement filed 2 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 628.28k 628.28k 177,000.00
2024 473.49k 433.83k 217,000.00
2023 365.19k 665.97k 193,000.00

Ownership

Directors and executive officers, together 3.80%
Thompson Davis & Co., Inc. 34.70%
Rodney I. Smith 10.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Smith-Midland Corp. (SMID) Latest News

22 Oct

Impact 3 · · ACCESS Newswire

15 Sep

Impact 3 ·

29 Aug

Impact 4 · · MarketBeat

14 Aug

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6 Aug

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11 Jun

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10 Jun

Impact 3 · · ACCESS Newswire

9 Jun

Impact 3 · · ACCESS Newswire

3 Jun

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16 Apr

Impact 4 · · Zacks

14 Apr

Impact 4 · · ACCESS Newswire

25 Mar

Impact 4 · · Zacks

24 Mar

Impact 4 · · ACCESS Newswire

23 Mar

Impact 4 · · ACCESS Newswire

10 Mar

Impact 3 · · ACCESS Newswire

10 Feb

Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

3 Feb

Impact 3 ·

23 Jan

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22 Jan

Impact 3 · · ACCESS Newswire

16 Dec

Impact 4 · · ACCESS NewswireMT NewswiresSimply Wall St.ZacksZacksSimply Wall St.ZacksMT Newswires

19 Nov

Impact 3 · · Zacks

13 Nov

Impact 4 · · ACCESS Newswire

28 Oct

Impact 4 · · Simply Wall St.

10 Oct

Impact 4 · · Zacks

9 Oct

Impact 4 · · ACCESS Newswire

5 Oct

Impact 3 · · Simply Wall St.

30 Sep

Impact 4 · · ACCESS Newswire

24 Sep

Impact 3 · · ACCESS Newswire

18 Sep

Impact 4 ·

1 Sep

Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.
stockrow.com/SMID · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com