For the twelve months ended Jun 30, 2026, Smith-Midland Corporation reported $89.50M of revenue and $7.73M of net income.
SMID revenue was $23.36M in fiscal Q2 2026 (ended Jun 30, 2026), down 10.8% from a year earlier and up 8.3% from the prior quarter. For the full fiscal 2025 it was $93.45M, up 19.0% from fiscal 2024. Compound annual growth was +16.3% over 5 years and +12.3% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
SMID net income was $1.38M in fiscal Q2 2026 (ended Jun 30, 2026), down 66.9% from a year earlier and up 3.1% from the prior quarter. For the full fiscal 2025 it was $12.51M, up 62.9% from fiscal 2024. Compound annual growth was +36.2% over 5 years and +28.2% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
SMID diluted EPS was $0.26 in fiscal Q2 2026 (ended Jun 30, 2026), down 67.1% from a year earlier and up 4.0% from the prior quarter. For the full fiscal 2025 it was $2.36, up 62.8% from fiscal 2024.
SMID free cash flow was -$2.41M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$2.81M a year earlier. For the full fiscal 2025 it was $4.96M, compared with -$1.04M in fiscal 2024. Compound annual growth was +0.4% over 5 years. Fiscal 2025 is the highest of the 15 fiscal years on file.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $93.45M | $78.51M | $59.58M | $50.13M | $50.64M | $43.86M | $46.69M | $40.22M | $41.72M | $40.05M |
| Cost of revenue | $67.41M | $58.50M | $48.93M | $40.66M | $36.22M | $32.82M | $36.72M | $29.73M | $30.25M | $29.70M |
| Gross profit | $26.04M | $20.01M | $10.65M | $9.47M | $14.42M | $11.04M | $9.97M | $10.49M | $11.46M | $10.35M |
| Selling, general and admin | $5.67M | $6.55M | $5.99M | $5.55M | $5.42M | $4.99M | $4.89M | $5.67M | $5.25M | $3.89M |
| Operating income | $16.99M | $9.90M | $1.12M | $854.0K | $6.17M | $3.76M | $2.55M | $2.22M | $3.71M | $4.34M |
| Interest expense | $225.0K | $231.0K | $255.0K | $260.0K | $190.0K | $217.0K | $179.0K | $176.0K | $184.0K | $162.0K |
| Pre-tax income | $17.03M | $9.82M | $1.32M | $945.0K | $9.09M | $3.79M | $2.50M | $2.26M | $3.74M | $4.30M |
| Income tax | $4.52M | $2.14M | $528.0K | $145.0K | $1.52M | $1.13M | $549.0K | $572.0K | $1.06M | $1.46M |
| Net income | $12.51M | $7.67M | $795.0K | $800.0K | $7.57M | $2.67M | $1.95M | $1.69M | $2.68M | $2.83M |
| EPS, basic | $2.36 | $1.45 | $0.15 | $0.15 | $1.45 | $0.51 | $0.38 | $0.33 | $0.53 | $0.57 |
| EPS, diluted | $2.36 | $1.45 | $0.15 | $0.15 | $1.45 | $0.51 | $0.38 | $0.33 | $0.53 | $0.56 |
| Diluted shares | 5.3M | 5.3M | 5.3M | 5.3M | 5,232 | 5.2M | 5,147 | 5,096 | 5,079 | 5.1M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $11.88M | $7.55M | $9.18M | $6.73M | $13.49M | $8.76M | $1.36M | $1.95M | $3.39M | $3.52M |
| Receivables | $27.23M | $19.42M | $17.21M | $16.22M | $10.01M | $9.80M | $12.72M | $12.28M | $8.97M | $7.19M |
| Current assets | $48.75M | $35.85M | $33.33M | $28.94M | $27.75M | $23.34M | $19.03M | $21.60M | $19.03M | $15.23M |
| Total assets | $87.73M | $67.99M | $61.35M | $54.31M | $53.27M | $46.50M | $42.12M | $41.37M | $29.23M | $23.41M |
| Current liabilities | $14.33M | $15.01M | $16.02M | $11.22M | $13.90M | $8.90M | $9.60M | $11.86M | $7.83M | $5.06M |
| Total debt | $4.45M | $5.09M | $5.73M | $6.35M | $4.14M | $4.94M | $5.01M | $4.50M | $3.53M | $3.93M |
| Total liabilities | $33.42M | $26.25M | $27.19M | $21.26M | $21.52M | $22.85M | $21.29M | $22.52M | $12.02M | $9.17M |
| Shareholders' equity | $54.30M | $41.74M | $34.16M | $33.05M | $31.75M | $23.65M | $20.82M | $18.88M | $17.20M | $14.24M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $14.30M | $5.16M | $7.73M | -$6.33M | $9.13M | $7.49M | $3.93M | $8.47M | $2.93M | $4.00M |
| Capital expenditures | $9.34M | $6.20M | $5.01M | $2.75M | $5.37M | $2.63M | $4.51M | $5.23M | $2.74M | $3.75M |
| Free cash flow | $4.96M | -$1.04M | $2.72M | -$9.08M | $3.76M | $4.86M | -$581.0K | $3.24M | $185.0K | $250.0K |
| Investing cash flow | -$9.32M | -$6.15M | -$4.66M | -$2.63M | -$3.65M | -$2.42M | -$4.74M | -$10.64M | -$2.73M | -$3.71M |
| Financing cash flow | -$647.0K | -$635.0K | -$619.0K | $2.20M | -$744.0K | $2.33M | $227.0K | $726.0K | -$332.0K | $1.50M |
| Dividends paid | - | - | - | - | $0 | $282.0K | $281.0K | $256.0K | $49.0K | $0 |
| Stock-based compensation | $59.0K | $45.0K | $375.0K | $505.0K | $531.0K | $163.0K | $270.0K | $242.0K | $411.0K | $0 |
| Depreciation and amortization | $2.89M | $2.66M | $2.40M | $2.88M | $2.89M | $2.41M | $1.79M | $1.25M | $926.0K | $821.0K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 19.0% | 31.8% | 18.8% | -1.0% | 15.5% | -6.1% | 16.1% | -3.6% | 4.2% | 37.1% |
| Net income growth, YoY | 62.9% | 865.4% | -0.6% | -89.4% | 184.1% | 36.7% | 15.5% | -37.1% | -5.3% | 171.5% |
| EPS growth, YoY | 62.8% | 866.7% | 0.0% | - | - | - | 15.2% | -37.7% | - | 166.7% |
| Gross margin | 27.9% | 25.5% | 17.9% | 18.9% | 28.5% | 25.2% | 21.4% | 26.1% | 27.5% | 25.8% |
| Operating margin | 18.2% | 12.6% | 1.9% | 1.7% | 12.2% | 8.6% | 5.5% | 5.5% | 8.9% | 10.8% |
| Net margin | 13.4% | 9.8% | 1.3% | 1.6% | 14.9% | 6.1% | 4.2% | 4.2% | 6.4% | 7.1% |
| Free cash flow margin | 5.3% | -1.3% | 4.6% | -18.1% | 7.4% | 11.1% | -1.2% | 8.1% | 0.4% | 0.6% |
| Return on equity | 23.0% | 18.4% | 2.3% | 2.4% | 23.8% | 11.3% | 9.4% | 8.9% | 15.6% | 19.9% |
| Return on assets | 14.3% | 11.3% | 1.3% | 1.5% | 14.2% | 5.7% | 4.6% | 4.1% | 9.2% | 12.1% |
| Current ratio | 3.40 | 2.39 | 2.08 | 2.58 | 2.00 | 2.62 | 1.98 | 1.82 | 2.43 | 3.01 |
| Debt to equity | 0.08 | 0.12 | 0.17 | 0.19 | 0.13 | 0.21 | 0.24 | 0.24 | 0.21 | 0.28 |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.36M | $21.57M | $23.11M | $21.45M | $26.19M | $22.70M | $18.53M | $23.58M | $19.64M | $16.76M | $16.39M | $15.65M |
| Cost of revenue | $17.94M | $17.27M | $17.59M | $15.69M | $18.40M | $15.72M | $14.14M | $17.00M | $14.5K | $12.85M | $13.27M | $12.07M |
| Gross profit | $5.42M | $4.30M | $5.52M | $5.76M | $7.79M | $6.97M | $4.39M | $6.58M | $5.1K | $3.91M | $3.12M | $3.58M |
| Selling, general and admin | $2.48M | $1.75M | $1.47M | $1.10M | $1.51M | $1.58M | $1.62M | $1.72M | $1.7K | $1.55M | $1.57M | $1.19M |
| Operating income | $1.99M | $1.73M | $3.23M | $3.85M | $5.52M | $4.39M | $1.87M | $3.85M | $2.7K | $1.51M | $542.0K | $1.50M |
| Interest expense | $66.0K | $47.0K | $64.0K | $44.0K | $62.0K | $55.0K | $56.0K | $56.0K | $59 | $60.0K | $63.0K | $64.0K |
| Pre-tax income | $1.81M | $1.76M | $3.33M | $3.87M | $5.48M | $4.35M | $1.86M | $3.84M | $2.6K | $1.50M | $598.0K | $1.51M |
| Income tax | $434.0K | $422.0K | $1.20M | $994.0K | $1.31M | $1.02M | $460.0K | $694.0K | $632 | $357.0K | $368.0K | $247.0K |
| Net income | $1.38M | $1.34M | $2.13M | $2.88M | $4.17M | $3.33M | $1.40M | $3.15M | $1.98M | $1.15M | $230.0K | $1.27M |
| EPS, basic | $0.26 | $0.25 | - | $0.54 | $0.79 | $0.63 | - | $0.59 | $0.37 | $0.22 | - | $0.24 |
| EPS, diluted | $0.26 | $0.25 | - | $0.54 | $0.79 | $0.62 | - | $0.59 | $0.37 | $0.21 | - | - |
| Diluted shares | 5.3M | 5.3M | - | 5,305 | 5.3M | 5.3M | - | 5,304 | 5.3M | 5.3M | - | 5.3M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.66M | $13.22M | $11.88M | $13.38M | $7.10M | $9.01M | $7.55M | $9.01M | $7.29M | $6.80M | $9.18M | $5.85M |
| Receivables | $22.79M | $28.05M | $27.23M | $25.46M | $30.3K | $22.88M | $19.42M | $17.82M | $17.18M | $20.05M | $17.21M | $16.84M |
| Current assets | $46.08M | $51.62M | $48.75M | $49.81M | $47.4K | $41.57M | $35.85M | $34.99M | $33.71M | $35.69M | $33.33M | $29.89M |
| Total assets | $86.69M | $92.19M | $87.73M | $85.44M | $81.2K | $74.66M | $67.99M | $66.63M | $64.05M | $64.85M | $61.35M | $57.65M |
| Current liabilities | $11.35M | $16.58M | $14.33M | $18.03M | $16.5K | $17.25M | $15.01M | $12.61M | $14.88M | $17.39M | $16.02M | $12.93M |
| Total debt | - | - | $4.45M | - | $2.32M | $2.36M | $5.09M | $2.42M | $2.45M | $2.51M | $5.73M | $2.58M |
| Total liabilities | $29.65M | $36.54M | $33.42M | $33.31M | $31.9K | $29.59M | $26.25M | $26.29M | $26.86M | $29.54M | $27.19M | $23.84M |
| Shareholders' equity | $57.04M | $55.66M | $54.30M | $52.13M | $49.24M | $45.07M | $41.74M | $40.34M | $37.18M | $35.31M | $34.16M | $33.82M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$485.0K | $3.13M | $2.59M | $11.71M | -$2.21M | $2.22M | -$645.0K | $5.80M | $778.9K | -$777.0K | $4.27M | $2.38M |
| Capital expenditures | $1.93M | $1.63M | $3.96M | $5.38M | -$592.5K | $595.0K | $660.0K | $5.54M | -$1.79M | $1.79M | $879.0K | $1.16M |
| Free cash flow | -$2.41M | $1.50M | -$1.37M | $6.33M | -$2.81M | $1.62M | -$1.30M | $261.6K | -$1.01M | -$2.57M | $3.39M | $1.22M |
| Investing cash flow | -$1.93M | -$1.63M | -$3.94M | -$5.38M | $592.5K | -$595.0K | -$632.0K | -$5.51M | $1.44M | -$1.44M | -$785.0K | -$1.10M |
| Financing cash flow | -$145.0K | -$166.0K | -$143.0K | -$503.7K | $163.7K | -$164.0K | -$188.0K | -$446.7K | $156.7K | -$157.0K | -$158.0K | -$155.0K |
| Stock-based compensation | $0 | $15.0K | $46.0K | $13.0K | $4.0K | $4.0K | $5.0K | $40.0K | $30.0K | $5.0K | $114.0K | $91.0K |
| Depreciation and amortization | $1.03M | $951.0K | $972.0K | $1.91M | -$669.7K | $671.0K | $668.0K | $1.99M | -$639.7K | $641.0K | $604.0K | $619.0K |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -10.8% | -5.0% | 24.7% | -9.0% | 33.3% | 35.5% | 13.1% | 50.7% | 33.6% | 30.5% | 13.1% | 30.9% |
| Net income growth, YoY | -66.9% | -59.8% | 52.5% | -8.7% | 110.6% | 190.1% | 507.4% | 148.8% | - | 1333.8% | 5650.0% | 25220.0% |
| EPS growth, YoY | -67.1% | -59.7% | - | -8.5% | 113.5% | 195.2% | - | - | - | 950.0% | - | - |
| Gross margin | 23.2% | 19.9% | 23.9% | 26.8% | 29.7% | 30.7% | 23.7% | 27.9% | 0.0% | 23.3% | 19.1% | 22.9% |
| Operating margin | 8.5% | 8.0% | 14.0% | 18.0% | 21.1% | 19.3% | 10.1% | 16.3% | 0.0% | 9.0% | 3.3% | 9.6% |
| Net margin | 5.9% | 6.2% | 9.2% | 13.4% | 15.9% | 14.7% | 7.5% | 13.4% | 10.1% | 6.8% | 1.4% | 8.1% |
| Free cash flow margin | -10.3% | 7.0% | -5.9% | 29.5% | -10.7% | 7.1% | -7.0% | 1.1% | -5.2% | -15.3% | 20.7% | 7.8% |
| Current ratio | 4.06 | 3.11 | 3.40 | 2.76 | 2.88 | 2.41 | 2.39 | 2.78 | 2.27 | 2.05 | 2.08 | 2.31 |
| Debt to equity | - | - | 0.08 | - | 0.05 | 0.05 | 0.12 | 0.06 | 0.07 | 0.07 | 0.17 | 0.08 |
Source: XBRL data Smith-Midland Corporation files with the SEC, latest filing dated Aug 14, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| SMID | $89.50M | -1.6% | $7.73M | 8.6% | $134.4M |
| CRH | $38.96B | +5.6% | $3.58B | 9.2% | $63.50B |
| AMRZ | $12.26B | +3.5% | $1.25B | 10.2% | $22.71B |
| JHX | $4.84B | +24.7% | $104.00M | 2.2% | $16.64B |
| CX | $16.13B | +0.4% | $960.00M | 6.0% | $16.24B |
| EXP | $2.34B | +1.6% | $376.72M | 16.1% | $5.80B |
| CPAC | PEN 2.12B | +7.0% | PEN 154.21M | 7.3% | $1.08B |
| LOMA | ARS 1.51T | +0.8% | ARS 23.58B | 1.6% | $1.03B |