SMITH MIDLAND CORP
SMID · Concrete Products, Except Block & Brick · 5.3M shares · +0%/yr ↑ shares · EDGAR filings ↗
Reference price $33.26 · est. market cap ~$177M — last insider sale, 2025-11-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B83Small but highly profitable precast-concrete maker with top-decile returns and strong double-digit growth.
Strengths
- Top-decile ROA 14.3% (93.5th pct), ROE 23% (79.7th), operating margin 18.2% (84.7th), interest coverage 75x (96th)
- Revenue +19% and net income +63% with proprietary products (SlenderWall, J-J Hooks) and infrastructure-funding tailwind
Risks
- Small scale and construction cyclicality; gross margin only 27.9% (29.7th pct)
- Backlog dipped to $53.1M from $59.5M and revenue is lumpy quarter to quarter
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
27.9%
Operating margin
18.2%
Net margin
13.4%
Return on equity
23.0%
Return on assets
14.3%
Revenue growth (QoQ)
-6.7%
Net-income growth
62.9%
Interest coverage
75.5×
Current ratio
3.4×
Free cash flow
$5M
EBITDA
$20M
Tangible book value
$54M
Stock comp / revenue
0.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-05 | Hunter Dominic L | Grant | 408 | — |
| 2025-12-19 | Bruner James Russell | Grant | 414 | — |
| 2025-12-19 | Van de Water Read | Grant | 414 | — |
| 2025-12-19 | Gerhardt Richard | Grant | 414 | — |
| 2025-11-24 | Gerhardt Richard | Sell | 666 | $33.26 |
| 2025-08-22 | SMITH RODNEY I | Sell | 14K | $41.36 |
| 2025-08-21 | SMITH RODNEY I | Sell | 1.3K | $40.00 |
| 2025-08-20 | Bruner James Russell | Sell | 6.0K | $39.06 |
| 2025-08-19 | SMITH RODNEY I | Sell | 54 | $42.76 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-10 | 0001654954-26-005864 ↗ |
| 10-Q | 2026-06-10 | 2026-03-31 | 0001654954-26-005829 ↗ |
| 8-K | 2026-06-09 | 2026-06-09 | 0001654954-26-005827 ↗ |
| 8-K | 2026-06-04 | 2026-05-29 | 0001654954-26-005673 ↗ |
| 8-K | 2026-04-14 | 2026-04-14 | 0001654954-26-003503 ↗ |
| 10-K | 2026-04-14 | 2025-12-31 | 0001654954-26-003505 ↗ |
| 8-K | 2026-03-24 | 2026-03-23 | 0001654954-26-002625 ↗ |
| 10-Q | 2025-11-14 | 2025-09-30 | 0001654954-25-013097 ↗ |
| 8-K | 2025-11-14 | 2025-11-13 | 0001654954-25-013052 ↗ |
| 8-K | 2025-08-21 | 2025-08-21 | 0001654954-25-009923 ↗ |
| 10-Q | 2025-08-14 | 2025-06-30 | 0001654954-25-009560 ↗ |
| 8-K | 2025-08-14 | 2025-08-14 | 0001654954-25-009549 ↗ |