Smith Midland Corp (SMID) financials
Smith Midland revenue and earnings by year
Smith Midland's revenue was $93.4 million in the fiscal year to December 31, 2025, up 19.0% from the year before. Net income was $12.5 million, 13.4% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 9.9% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 93 | 79 | 60 | 50 | 51 | 44 | 47 | 40 | 42 | 40 |
| Revenue growth | 19.0% | 31.8% | 18.8% | -1.0% | 15.5% | -6.1% | 16.1% | -3.6% | 4.2% | — |
| Gross profit | 26 | 20 | 11 | 9 | 14 | 11 | 10 | 10 | 11 | 10 |
| Gross margin | 27.9% | 25.5% | 17.9% | 18.9% | 28.5% | 25.2% | 21.4% | 26.1% | 27.5% | 25.8% |
| Operating income | 17 | 10 | 1 | 1 | 6 | 4 | 3 | 2 | 4 | 4 |
| Operating margin | 18.2% | 12.6% | 1.9% | 1.7% | 12.2% | 8.6% | 5.5% | 5.5% | 8.9% | 10.8% |
| Net income | 13 | 8 | 1 | 1 | 8 | 3 | 2 | 2 | 3 | 3 |
| Net margin | 13.4% | 9.8% | 1.3% | 1.6% | 14.9% | 6.1% | 4.2% | 4.2% | 6.4% | 7.1% |
| Diluted EPS | $2.36 | $1.45 | $0.15 | $0.15 | $1.45 | $0.51 | $0.38 | $0.33 | $0.53 | $0.56 |
| Free cash flow | 5 | -1 | 3 | -9 | 4 | 5 | -0 | 3 | 0 | 0 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open SMID in Markets.
How Smith Midland makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Service Revenue | $12.2M | 52.1% |
| Revenue Recognized For Product Sales Point In Time | $6.87M | 29.4% |
| Revenue Recognized For Product Sales Over Time | $4.33M | 18.5% |
See also: SMID valuation and P/E history · SMID returns
No forecast, no recommendation. This page describes Smith Midland Corp from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.