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what it is
Smith-Midland makes precast concrete products like wall panels, highway barriers, and portable buildings for construction and infrastructure jobs.
how it gets paid
Last year Smith Midland made $79M in revenue. J-J Hooks highway barriers was the main engine at $27M, or 34% of sales.
what just happened
Revenue hit $70M, up 228% vs. prior year, which is absurd next to a company with only about $79M in annual sales.
At a glance
B balance sheet — gets the job done, barely
30/100 earnings predictability — expect surprises
14.5x trailing p/e — the market's not buying it — or you found a deal
16.9% return on capital — nothing to write home about
$1.45 fy2024 eps est
xvary composite: 47/100 — below average
What they do
Smith-Midland makes precast concrete products like wall panels, highway barriers, and portable buildings for construction and infrastructure jobs.
This is a small manufacturer with proprietary products people do not casually swap out mid-project. Patented products → legally protected designs → so what: your customer is less likely to re-bid a wall system after engineering work is done. That helps Smith-Midland earn a 16.0% operating margin on about $79 million of 2024 sales, according to.
How they make money
$79M
annual revenue
J-J Hooks highway barriers
$27M
+228%
SlenderWall exterior panels
$19M
+7.0%
Easi-Set concrete buildings
$14M
+7.0%
Noise wall panels
$10M
+45.0%
Licensing, leasing, and other precast products
$9M
+10.0%
The products that matter
architectural wall system
SlenderWall™
product-level revenue not broken out
it is one of the named products inside a business that generated $79M in revenue, but this snapshot does not show how much of that total comes from SlenderWall™.
named product
patented concrete systems
patented systems
29.2% gross margin
the patent language matters because product differentiation is the whole strategic argument, yet the actual economics still show a 29.2% gross margin rather than software-style pricing power.
differentiation bet
lightweight precast products
lightweight systems
$175M market cap
for a company worth about $175M, even a single product line gaining traction can matter, but the current snapshot gives you no product sales split to prove it yet.
data thin
Key numbers
16.0%
operating margin
Operating margin → profit after running the business → so what: this small manufacturer keeps $0.16 from each sales dollar before interest and taxes.
16.9%
return on capital
Return on capital → profit earned on the money tied up in the business → so what: management is getting decent output from a small asset base.
$4M
long-term debt
Long-term debt → money owed for years → so what: debt is only 2% of capital, which gives this company room to survive slow projects.
14.5x
trailing p/e
P/E → price compared with past earnings → so what: the stock is not priced like a bubble, but the forward earnings drop matters.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- long-term debt $4M (2% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for SMID right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $70M, up 228% vs. prior year, which is absurd next to a company with only about $79M in annual sales.
Revenue growth did the heavy lifting. Gross margin reached 29.2%, and the latest quarter's $1.96 EPS dwarfed most of the prior quarterly figures listed by.
$70M
revenue
$1.96
eps
29.2%
gross margin
the number that mattered
$70 million matters because one quarter nearly matched the company's full-year $79 million revenue base, which tells you results are extremely project-driven.
source: company earnings report, 2026
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What could go wrong
the #1 risk is project-driven demand for precast concrete.
med
lumpy project timing
with just $79M in annual revenue, a few delayed or cancelled jobs can move results more than they would at a larger industrial company.
with just $79M in annual revenue, a few delayed or cancelled jobs can move results more than they would at a larger industrial company.
med
thin margin cushion
29.2% gross margin is workable, not luxurious. if input costs, freight, or execution slip, profitability can compress fast.
29.2% gross margin is workable, not luxurious. if input costs, freight, or execution slip, profitability can compress fast.
med
stock volatility outruns fundamentals
the shares traded between $25 and $44 over the last 52 weeks and carry a 10 / 100 price stability score. that is a wide swing for a business this small.
the shares traded between $25 and $44 over the last 52 weeks and carry a 10 / 100 price stability score. that is a wide swing for a business this small.
med
limited external validation
no price target is shown here and institutional ownership data is still being compiled. when coverage is thin, you get fewer guardrails.
no price target is shown here and institutional ownership data is still being compiled. when coverage is thin, you get fewer guardrails.
The balance sheet looks decent, but revenue concentration in a handful of projects can still move the stock hard.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
gross margin at 29.2%
this is the cleanest operating number on the page. if it improves, the small-cap thesis gets sharper. if it fades, the valuation case gets weaker fast.
risk
price stability score: 10 / 100
the business carries only $4M of long-term debt, but the stock still trades like a small-cap swing asset. do not confuse balance-sheet stability with share-price stability.
calendar
the next filing matters more than usual
with no segment breakout and limited outside coverage, the next company update is where you find out whether $79M revenue is turning into a steadier earnings base.
trend
coverage depth is still thin
no price target and incomplete institutional data tell you this name is underfollowed. that can create mispricing. it can also create blind spots.
Analyst rankings
earnings predictability
30 / 100
in human-speak, the earnings line is jumpy. expect uneven quarters.
risk rank
3
that places SMID around the middle of the pack on overall safety. not reckless, not a bunker.
price stability
10 / 100
the chart is telling you this stock can move a lot more than the balance sheet would suggest.
source: institutional data
Institutional activity
institutional ownership data for SMID is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$33
current price
n/a
target midpoint · n/a from current
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