SMID · Smith Midland Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | $21.45M | $26.19M | $22.70M | - | $23.58M | $19.64M | $16.76M | - | $15.65M |
| Cost of Revenue | - | $15.69M | $18.4K | $15.72M | - | $17.00M | $14.51M | $12.85M | - | $12.07M |
| Gross Profit | - | $5.76M | $7.8K | $6.97M | - | $6.58M | $5.13M | $3.91M | - | $3.58M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | $1.10M | $1.5K | $1.58M | - | $1.72M | $1.67M | $1.55M | - | $1.19M |
| Total Operating Expenses | - | $1.91M | $2.3K | $2.59M | - | $2.73M | $2.46M | $2.40M | - | $2.08M |
| D&A | - | - | - | $671.0K | - | - | - | $641.0K | - | - |
| Operating Income | - | $3.85M | $5.5K | $4.39M | - | $3.85M | $2.67M | $1.51M | - | $1.50M |
| Interest Expense | - | $44.0K | $62 | $55.0K | - | $56.0K | $59.0K | $60.0K | - | $64.0K |
| Income Tax | - | $994.0K | $1.3K | $1.02M | - | $694.0K | $632.0K | $357.0K | - | $247.0K |
| Net Income | - | $2.88M | $4.2K | $3.33M | - | $3.15M | $1.98M | $1.15M | - | $1.27M |
| EPS - Basic | - | $0.54 | $0.79 | $0.63 | - | $0.59 | $0.37 | $0.22 | - | - |
| EPS - Diluted | - | $0.59 | $0.37 | $0.62 | - | - | - | $0.21 | - | - |
Balance Sheet
| Line item | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.88M | $13.38M | $7.1K | $9.01M | $7.55M | $9.01M | $7.29M | $6.80M | $9.18M | $5.85M |
| Accounts Receivable | $27.23M | $25.46M | $30.3K | $22.88M | $19.42M | $17.82M | $17.18M | $20.05M | - | $16.84M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $5.48M | $5.74M | $5.8K | $5.81M | $4.74M | $5.43M | $5.40M | $6.94M | $7.34M | $5.48M |
| Current Assets | $48.75M | $49.81M | $47.4K | $41.57M | $35.85M | $34.99M | $33.71M | $35.69M | $33.33M | $29.89M |
| Total Assets | $87.73M | $85.44M | $81.2K | $74.66M | $67.99M | $66.63M | $64.05M | $64.85M | $61.35M | $57.65M |
| Current Liabilities | $14.33M | $18.03M | $16.5K | $17.25M | $15.01M | $12.61M | $14.88M | $17.39M | $16.02M | $12.93M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $33.42M | $33.31M | $31.9K | $29.59M | $26.25M | $26.29M | $26.86M | $29.54M | $27.19M | $23.84M |
| Stockholders' Equity | $54.30M | $52.13M | $49.2K | $45.07M | $41.74M | $40.34M | $37.18M | $35.31M | $34.16M | $33.82M |
| Retained Earnings | $46.58M | $44.45M | $41.6K | $37.40M | $34.07M | $32.67M | $29.52M | $27.54M | $26.39M | $26.16M |
Cash Flow
| Line item | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | - | $2.22M | - | - | - | ($777.0K) | - | - |
| Investing Cash Flow | - | - | - | ($595.0K) | - | - | - | ($1.44M) | - | - |
| Financing Cash Flow | - | - | - | ($164.0K) | - | - | - | ($157.0K) | - | - |
| CapEx | - | - | - | $595.0K | - | - | - | $1.79M | - | - |
| Free Cash Flow | - | - | - | $1.62M | - | - | - | ($2.57M) | - | - |
Ratios
| Metric | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | 26.8% | 0.0% | 30.7% | - | 27.9% | 26.1% | 23.3% | - | 22.9% |
| Operating margin | - | 18.0% | 0.0% | 19.3% | - | 16.3% | 13.6% | 9.0% | - | 9.6% |
| EBITDA margin | - | - | - | 22.3% | - | - | - | 12.8% | - | - |
| Net margin | - | 13.4% | 0.0% | 14.7% | - | 13.4% | 10.1% | 6.8% | - | 8.1% |
| Free cash flow margin | - | - | - | 7.1% | - | - | - | -15.3% | - | - |
| FCF / Net income | - | - | - | 0.49 | - | - | - | -2.24 | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | 5.1% | 0.0% | 7.0% | - | 7.3% | 8.5% | 9.2% | - | 7.6% |
| Effective tax rate | - | 25.7% | 23.9% | 23.5% | - | 18.1% | 24.2% | 23.7% | - | 16.3% |
| Return on assets | - | 3.4% | 5.1% | 4.5% | - | 4.7% | 3.1% | 1.8% | - | 2.2% |
| Return on equity | - | 5.5% | 8.5% | 7.4% | - | 7.8% | 5.3% | 3.2% | - | 3.7% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 3.40 | 2.76 | 2.88 | 2.41 | 2.39 | 2.78 | 2.27 | 2.05 | 2.08 | 2.31 |
| Quick ratio | 3.40 | 2.76 | 2.88 | 2.41 | 2.39 | 2.78 | 2.27 | 2.05 | 2.08 | 2.31 |
| Cash ratio | 0.83 | 0.74 | 0.43 | 0.52 | 0.50 | 0.71 | 0.49 | 0.39 | 0.57 | 0.45 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | 87.6x | 89.0x | 79.8x | - | 68.7x | 45.3x | 25.1x | - | 23.5x |
| Equity multiplier | 1.62 | 1.64 | 1.65 | 1.66 | 1.63 | 1.65 | 1.72 | 1.84 | 1.80 | 1.70 |
| Liabilities / Assets | 0.38 | 0.39 | 0.39 | 0.40 | 0.39 | 0.39 | 0.42 | 0.46 | 0.44 | 0.41 |
| Efficiency | ||||||||||
| Asset turnover | - | 0.25 | 322.58 | 0.30 | - | 0.35 | 0.31 | 0.26 | - | 0.27 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | 433d | 0d | 368d | - | 276d | 319d | 437d | - | 393d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | 134d | 115d | 135d | - | 116d | 136d | 197d | - | 166d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | 62.5x | 90.7x | 50.1x | - | - | - | 223.7x | - | - |
| P / B | - | 0.0x | 3615.3x | 3.7x | - | 4.4x | 0.0x | 7.1x | - | 3.0x |
| P / S | - | 0.0x | 6.8x | 7.3x | - | 7.5x | 0.0x | 15.0x | - | 6.4x |
| EV / EBITDA | - | - | - | 30.8x | - | - | - | 113.7x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | -9.0% | 33.3% | 35.5% | - | 50.7% | 33.6% | 30.5% | - | 30.9% |
| Revenue CAGR (3y) | - | 21.5% | 25.5% | 29.6% | - | 21.6% | 16.9% | 3.3% | - | 7.7% |
| Revenue CAGR (5y) | - | 11.4% | 20.2% | 18.2% | - | 19.8% | 12.6% | 12.9% | - | 10.4% |
| Gross profit growth (YoY) | - | -12.5% | -99.8% | 78.3% | - | 83.9% | 187.4% | 80.6% | - | 71.8% |
| Operating income growth (YoY) | - | 0.2% | -99.8% | 190.7% | - | 156.2% | - | 2694.4% | - | 37450.0% |
| Net income growth (YoY) | - | -8.7% | -99.8% | 190.1% | - | 148.8% | - | 1333.8% | - | 25220.0% |
| EPS growth (YoY) | - | - | - | 195.2% | - | - | - | 950.0% | - | - |
| EPS CAGR (3y) | - | - | 29.6% | - | - | - | - | -27.5% | - | - |
| EPS CAGR (5y) | - | 14.5% | 32.7% | - | - | - | - | 28.5% | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | 5.4% | - | - |
| FCF CAGR (5y) | - | - | - | 22.5% | - | - | - | - | - | - |
| Book value growth (YoY) | 30.1% | 29.2% | -99.9% | 27.6% | 22.2% | 19.3% | 14.5% | 6.5% | 3.3% | 2.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$34.34M totalService Revenue$19.70M · 57.4%
Product Sales$14.64M · 42.6%
Peer comparison
Same SIC group: Concrete Products, Except Block & Brick
Comparing SMITH MIDLAND CORP against the 3 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| Dec 19, 2019 | $0.0550 |
| Dec 18, 2018 | $0.0550 |
| Dec 26, 2017 | $0.0500 |
| Dec 28, 2016 | $0.0100 |
| Dec 16, 2015 | $0.0400 |
| Dec 23, 2014 | $0.0350 |
| Dec 31, 2013 | $0.0300 |
| Dec 18, 2013 | $0.0300 |
| Dec 21, 2012 | $0.0500 |