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MARKETS / NASDAQ / SMID
NASDAQ · CONCRETE PRODUCTS, EXCEPT BLOCK & BRICK · SMALL CAP

Smith Midland Corp. SMID

15 fiscal years on record · USD · FY2025 reported · SEC filings only
$93.4M
▲ 19.0% YoY
$12.5M
▲ 62.9% YoY
$5.0M
In brief

What this company does

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs a broad array of precast concrete products and systems for use primarily in the construction, highway, utilities and farming industries through its six wholly-owned subsidiaries. The Company was incorporated in Delaware on August 2, 1994. Prior to a corporate reorganization completed in October 1994, the Company conducted its business primarily through Smith-Midland Virginia, which was incorporated in 1960 as Smith Cattleguard Company, a Virginia corporation, and which subsequently changed its name to Smith-Midland Corporation in 1985. The Company currently manufactures and sells a wide variety of products for use in the construction, transportation, and utility industries. As of March 3, 2026, the Company had a total of 285 employees, of which 179 are full-time, 9 are part-time, and 97 are contract labor, located across its facilities in Midland, Virginia, Reidsville, North Carolina, and Hopkins (Columbia), South Carolina. The Company maintains approximately 70 licensing agreements, with 57 in the United States, 7 in Canada, and agreements in New Zealand, Australia, Belgium, Mexico and Trinidad. The precast concrete industry is highly competitive and consists of a few large companies and many small to mid-size companies, several of which have substantially greater resources than the Company.

Written from the business description in SMITH MIDLAND CORP's annual report to the U.S. Securities and Exchange Commission, filed 14 April 2026. Every sentence was checked against that document before publication.

Growth
USD 93.4M
Revenue, FY2025 · full 15-year series below
Revenue $M Net income $M
FY2025 · Revenue 93.4 · Net income 12.5
40M80M20112013201520172019202120232025
Compound annual growth
+23.1%
+16.3%
+12.3%
+150.0%
+36.2%
+28.2%
+150.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +16.3% a year over five years — but profit grew faster: net income at +36.2%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
13 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 18.2% · Net 13.4%
5%10%15%-2%-4%20112013201520172019202120232025
ROE
FY2025 · ROE 26.0%
10%20%-2%-4%-6%20112013201520172019202120232025

Each USD of equity produced 26 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 5.0
2M4M-4M-8M20112013201520172019202120232025
Net buybacks $ Dividends $
FY2021 · Dividends 0.0 · Net buybacks —
100000200000201120132015201720192021

Total assetsUSD 87.7M
EquityUSD 54.3M
CashUSD 11.9M
Gross debtUSD 4.4M
Net debtUSD -7.4M
Current ratio3.40×

The company holds more cash than debt.

The 15-year record
15 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011
Revenue $B0.10.10.10.10.10.00.00.00.00.00.00.00.00.00.0
Operating income $B0.00.00.00.00.00.00.00.00.00.00.0−0.00.00.0−0.0
EBITDA $B0.00.00.00.00.00.00.00.00.00.00.0−0.00.00.00.0
Income tax $B0.00.00.00.00.00.00.00.00.00.00.0−0.00.00.0−0.0
Net income $B0.00.00.00.00.00.00.00.00.00.00.0−0.00.00.0−0.0
Free cash flow $B0.0−0.00.0−0.00.00.0−0.00.00.00.0−0.00.0−0.00.0−0.0
EPS, diluted $2.361.450.150.151.450.510.380.330.530.560.21−0.160.140.08−0.07
Dividend / sh $···············
Payout %····01114152019−222164−0
ROE %26.020.22.42.527.312.09.89.317.122.19.6−7.46.23.5−3.3
Shares out B0.010.010.010.010.010.010.010.010.010.000.00···0.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 75 reconciliationsAUDITED

Reconciled in 15 of 19 fiscal years. 20 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityConcrete Products, Except Block & Brick
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2011

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