Smith-Midland (SMID) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Smith-Midland

NasdaqCM•Basic Materials•Building Materials

$24.96-1.07(-0.04%)Pre-market

Market Cap

$128.54M

P/E

10.8x

P/S

1.4x

P/B

2.3x

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs various precast concrete products and systems. The company offers SlenderWall lightweight construction panel, a lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, which are used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; and Easi-Set precast building and Easi-Span expandable precast buildings for use in housing communications operations, traffic control systems, and mechanical and electrical stations. It also provides Easi-Set utility vaults used to house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as manufactures custom-built utility vaults for special needs; SoftSound soundwall panels that absorbs highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage and street level leak detection product for panelized exterior cladding. The company licenses its proprietary products in the United States, Canada, New Zealand, Australia, Belgium, Mexico, and Trinidad. It markets its products through in-house sales force and independent sales representatives; contractors performing public and private construction contracts, such as construction of commercial buildings, public and private roads and highways, airports, and municipal utilities; and federal, state, and local transportation authorities. The company serves construction, highway, utilities, and farming industries. Smith-Midland Corporation was founded in 1960 and is based in Midland, Virginia.

How this company scores

ExcellentMetricSide Score: 80/100

Strongest: Profitability (25/25); weakest: Cash & Earnings Quality (15/25).

Profitability25/25

Growth15/25

Balance Sheet & Red Flags25/25

Cash & Earnings Quality15/25

Strengths

Rising free cash flowStrong marginsHigh ROERising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 10.8x5y range 0.0x – 261.5x

Currently below its 19-quarter median.

P/S · 1.4x5y range 0.0x – 3.9x

Currently below its 20-quarter median.

P/B · 2.3x5y range 0.0x – 3615.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Watch

4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.

Price & Volume

Market Cap $128.54M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $89.50M
Q. Revenue: $23.36M
TTM EBITDA: $22.43M
TTM Op. Income: $16.31M
Q. Op. Income: $1.99M
TTM Net Income: $11.89M
Q. Net Income: $1.38M
EPS: $0.26
Shares Out.: $5.31M

$89.50M in TTM revenue declined 1.6% YoY, reaching $23.36M last quarter. TTM EBITDA of $22.43M and TTM operating income of $16.31M show growth is flowing through to the bottom line. TTM net income of $11.89M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 23.2%
EBITDA Margin: 12.9%
Op. Margin: 8.5%
Net Margin: 5.9%

Op. margin of 8.5% is up 8.5% YoY — cost efficiency is improving. Net margin at 5.9% and gross margin of 23.2% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 40220% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 10.8x
P/S Ratio: 1.4x
P/B Ratio: 2.3x

At 10.8x P/E, the stock trades below typical market levels. P/S of 1.4x and P/B of 2.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 52% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $86.69M
Cash: $10.66M
Long-Term Debt: $3.48M
Book Value: $57.04M
D/E Ratio: 0.1
Debt/EBITDA: 1.2

With $86.69M in assets and $3.48M in long-term debt, D/E is 0.1and book value is $57.04M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-485,000
TTM Free Cash Flow: $4.17M
FCF Margin: 4.7%
FCF / Net Income: 0.4

TTM FCF of $4.17M on $-485,000 in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.