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Companies / Materials / Smith-Midland Corporation
SMID

Smith-Midland Corporation

MaterialsGlass & Stone
Ticker SMIDMIDLAND, VAFiscal year ends DecemberBook value per share $10.75Diluted shares 5.3M

Smith-Midland Corporation (Nasdaq: SMID) develops, manufactures, sells, leases, licenses, ships, and installs precast concrete products and systems for construction, highway, utility, and farming applications. Its customers include general contractors, transportation authorities, government agencies, and precast… From the company’s description.

Over the twelve months to Jun 30, 2026, Smith-Midland Corporation reported revenue of $89.50M, down 1.6% from a year earlier. Its operating margin was 23.1%. In fiscal 2025, it reported revenue of $93.45M, up 19.0% from fiscal 2024, and net income of $12.51M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$93.45MFY2025
+19.0% year over year
Last 12 mo $89.50M
18.19%FY2025
+5.6 percentage points
Last 12 mo 23.13%
$12.51MFY2025
+62.9% year over year
23.03%FY2025
+4.6 percentage points
Last 12 mo 26.68%
Cash & financing
$14.30MFY2025
+177.3% year over year
$4.96MFY2025
+574.9% year over year
0.08FY2025
Was 0.12× a year earlier
Last 12 mo 0.07
—
Last 12 mo 5.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Smith-Midland Corporation does

In the company’s own words

Smith-Midland Corporation (Nasdaq: SMID) develops, manufactures, sells, leases, licenses, ships, and installs precast concrete products and systems for construction, highway, utility, and farming applications. Its customers include general contractors, transportation authorities, government agencies, and precast manufacturers that license its products. Offerings include SlenderWall® exterior panels, J-J Hooks® highway safety barriers, Sierra Wall™ sound and retaining barriers, Easi-Set® and Easi-Span® buildings, utility vaults, and SoftSound™ sound-absorbing panels; it also produces farm products and custom precast components. The company operates through six wholly owned subsidiaries and reports revenue by product category and service rather than as reportable business segments. Its activities include precast product sales, barrier rentals, licensing royalties, shipping, and installation. In fiscal 2025, revenue was approximately $93.4 million, including $19.7 million from barrier rentals and $4.2 million from royalties. The company licenses proprietary products through about 70 agreements in the United States and several international markets. Its predecessor business dates to 1960, and Smith-Midland Corporation was incorporated in 1994. Its website is www.smithmidland.com.

Company details
Sector
Materials
Industry (SIC)
Glass & Stone
Headquarters
MIDLAND, VA
Fiscal year end
December
CIK
924719
SIC
3272

Financial performance, year by year

Fiscal 2012–2025 · USD
$-10.23M$18.05M$46.32M$74.60M$102.87M20122013201420152016201720182019202020212022202320242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Smith-Midland Corporation — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

85
funds hold it
0 of 35
superinvestors hold it
$19.76M
held by funds, at market
12.5%
of shares held by funds

Largest fund holders · Smith-Midland Corporation’s weight in each

Needham Aggressive Growth Fund
NEAGX · Needham Funds Inc
0.25%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Small Cap Index Fund
FSSNX · Fidelity Salem Street Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Smith-Midland Corporation and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Smith-Midland Corporation's earnings go — cash, debt, buybacks, reinvestment?”
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