Smith-Midland Corporation (SMID)

From the record

Smith-Midland Corporation's filings since 2017 show 18 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 6 times, the latest 2026-06-04); an auditor change (8-K item 4.01, 4 times, the latest 2023-08-23); a late-report notice (Form NT 10-K or NT 10-Q, 8 times, the latest 2026-05-14) (its current reports).

From the record

Smith-Midland Corporation's 9 filed years say what it did: revenue went from $42 million in fiscal 2017 to $93 million in fiscal 2025, up 10.6% a year; it rose in 5 of 8 years; the deepest fall was 6% from fiscal 2019 to fiscal 2020; net income was positive in 9 of 9 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Smith-Midland Corporation's diluted share count grew about 0.3% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 1 sale and 2 purchases of their own stock on the open market in the year to 2026-09-30, buying about $108 thousand (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Smith-Midland Corporation earned about 23 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 30 cents per dollar of everything the company owns. Leverage: it owed about 38 cents per dollar of assets, and net share issuance: its share count grew 0.3% over the year (the filed statements).

From the record

Smith-Midland Corporation's standing among 14 graded names in its industry family: revenue of $93 million in fiscal 2025 ranks in the bottom 13% by size; a net margin of 13.4% ranks in the top 25%; revenue growth of 23.1% a year over the last 3 filed years ranks in the top 4% (its annual reports).

From the record

Smith-Midland Corporation's leadership, from its insiders' filings and its current reports: the chief executive on the record is Smith, Ashley B (Chief Executive Officer, as filed), filing under that title since 2026-09-04, 2 months (bottom 8% of its family); the 7 officers and directors filing in the last fifteen months have been on the record a median of 7.9 years (top 25%); 4 officer or director changes were reported on Form 8-K since 2023-11-13, against the 7 people in charge now (bottom 25%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Smith-Midland Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $12 million against no long-term debt tagged leaves 13.5% of its assets as net cash, top 18% of its family; cash from operations less capital spending is 5.3% of revenue (bottom 39%); a gross margin of 27.9% (bottom 46%) (its annual report).

From the record

Smith-Midland Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew 23.1% a year over the last three filed years against 10.6% over all 9, speeding up (top 4% of its family); the newest year grew 19% (top 18%); capital spending grew 50.3% a year (top 11%) (its annual reports). Smith-Midland Corporation reported 2 product lines in fiscal 2025: Product Sales at $48 million (52%), Service Revenue at $45 million (48%); 2 of 2 grew against the year before (its annual report).

From the record

Smith-Midland Corporation's newest year against its own record: revenue of $93 million in fiscal 2025 came in 4.9% below the $98 million its prior three years' pace pointed to (bottom 27% of its family); net income of $13 million against a prior three-year average of $3 million (top 12%); a net margin of 13.4% against 4.2% before (top 12%) (its annual reports).