SMITH MIDLAND CORP
SMIDNasdaqMaterials · Concrete Products, Except Block & Brick · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $93.4M | $78.5M | $59.6M | $50.1M | $50.6M | $43.9M |
| Operating income | $17.0M | $9.9M | $1.1M | $854,000 | $6.2M | $3.8M |
| Net income | $12.5M | $7.7M | $795,000 | $800,000 | $7.6M | $2.7M |
| Total assets | $87.7M | $68.0M | $61.3M | $54.3M | $53.3M | $46.5M |
| Total liabilities | $33.4M | $26.3M | $27.2M | $21.3M | $21.5M | $22.9M |
| Equity | $54.3M | $41.7M | $34.2M | $33.1M | $31.8M | $23.6M |
| EPS (diluted) | $2.36 | $1.45 | $0.15 | $0.15 | $1.45 | $0.51 |
| Shares out. | 5.3M | 5.3M | 5.3M | 5.3M | 5.2M | 5.2M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 18.2%
- Net margin
- 13.4%
- Return on equity
- 23.0%
- Return on assets
- 14.3%
- Return on capital (ROCE)
- 23.2%
- Liabilities / assets
- 38.1%
- Debt / equity
- 0.62×
- Book value / share
- $10.24
- Revenue growth (YoY)
- 19.0%
- Net income growth (YoY)
- 62.9%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 7.31safe
- Accruals / assets
- −2.0%clean
- Beneish M-Score
- -2.27normal
- Piotroski F-Score
- 7/9strong
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 1 severe● 7 good- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating margin is positive
- Strong return on equity (>15%)
- Revenue is growing year-over-year
- Conservative leverage (liabilities < 50% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗May 14, 2026
- NT 10-Kmissed a reporting deadline ↗Mar 31, 2026
- NT 10-Qmissed a reporting deadline ↗May 15, 2025
- NT 10-Kmissed a reporting deadline ↗Mar 31, 2025
- NT 10-Qmissed a reporting deadline ↗May 15, 2024
- NT 10-Kmissed a reporting deadline ↗Apr 1, 2024
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Smith Rodney IPassive (13G)Nov 14, 2025
- Thompson Davis & Co., Inc.Activist (13D)Jun 5, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 168,228 | 18.3 | -1.9% |
| Apr 30, 2026 | 171,504 | 20.8 | +0.4% |
| Apr 15, 2026 | 170,875 | 14.4 | -0.1% |
| Mar 31, 2026 | 171,083 | 17.3 | +1.5% |
| Mar 13, 2026 | 168,505 | 28.9 | +2.5% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsApr 14, 2026
- Results of operationsMar 24, 2026
- Results of operationsNov 14, 2025
- Regulation FD disclosureAug 21, 2025
- Results of operationsAug 14, 2025
- Shareholder voteAug 6, 2025
- Results of operationsJul 10, 2025
- Delisting / listing-standard noticeJun 4, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- NT 10-QMay 14, 2026
- 10-KFORM 10-KApr 14, 2026
- 8-KFORM 8-KApr 14, 2026
- NT 10-KMar 31, 2026
- 8-KFORM 8-KMar 24, 2026
- 4PRIMARY DOCUMENTJan 7, 2026
- 4FORM 4Jan 5, 2026
- 4PRIMARY DOCUMENTDec 30, 2025
- 4FORM 4Dec 23, 2025
- 4PRIMARY DOCUMENTNov 25, 2025
- 10-QFORM 10-QNov 14, 2025
- SCHEDULE 13GNov 14, 2025
- 8-KFORM 8-KNov 14, 2025
- 144/ASep 2, 2025
- 4FORM 4Aug 25, 2025
Event-driven situations (1)
Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.