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SMITH MIDLAND CORP SMID

Nasdaq · stock · Concrete Products, Except Block & Brick · website · IPO 1995-12-13

SMITH MIDLAND CORP statistics & valuation

Market cap$157.9M
P / E12.6×
P / S1.7×
P / B2.9×
P / FCF31.8×
Net margin13.4%
Return on equity23.0%
FCF margin5.3%
Return on capital23.2%
Graham number -15.9%$23.31

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($23.31); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
7.10% 6.40% 4.20% 4.20% 6.10% 14.90% 1.60% 1.30% 9.80% 13.40% 2016201720182019202020212022202320242025
Gross margin (%)
25.80% 27.50% 26.10% 21.40% 25.20% 28.50% 18.90% 17.90% 25.50% 27.90% 2016201720182019202020212022202320242025
Operating margin (%)
10.80% 8.90% 5.50% 5.50% 8.60% 12.20% 1.70% 1.90% 12.60% 18.20% 2016201720182019202020212022202320242025
Return on equity (%)
19.90% 15.60% 8.90% 9.40% 11.30% 23.80% 2.40% 2.30% 18.40% 23.00% 2016201720182019202020212022202320242025
Shares outstanding
5.1M 5.0M 5.1M 5.2M 5.2M 5.2M 5.3M 5.3M 5.3M 5.3M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
12.10% 9.20% 4.10% 4.60% 5.70% 14.20% 1.50% 1.30% 11.30% 14.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
0.60% 0.40% 8.10% -1.20% 11.10% 7.40% -18.10% 4.60% -1.30% 5.30% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$0.56 $0.53 $0.33 $0.38 $0.51 $1.45 $0.15 $0.15 $1.45 $2.36 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

SMITH MIDLAND CORP trades at about 11.7× earnings — below its 10-year norm (10-year range 10.6×–259×, median 20.9×).

10.6× 259×

Shaded band = 10-year range (10.6×–259×); dot = today's 11.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin27.9%25.5%17.9%18.9%28.5%25.2%21.4%26.1%27.5%25.8%
Operating margin18.2%12.6%1.9%1.7%12.2%8.6%5.5%5.5%8.9%10.8%
Net margin13.4%9.8%1.3%1.6%14.9%6.1%4.2%4.2%6.4%7.1%
FCF margin5.3%-1.3%4.6%-18.1%7.4%11.1%-1.2%8.1%0.4%0.6%
Return on assets14.3%11.3%1.3%1.5%14.2%5.7%4.6%4.1%9.2%12.1%
Return on equity23.0%18.4%2.3%2.4%23.8%11.3%9.4%8.9%15.6%19.9%
Current ratio3.402.392.082.582.002.621.981.822.433.01

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.