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Smith Midland Corp
How the company evolved, year by year. Revenue and debt come from the annual reports — for most companies, the 10-K filings with the SEC since 2009; dividends from the payments themselves.
The bars are a balance on the closing date; the lines are what happened during the year. Revenue above equity is ordinary, not an anomaly — it means the company turns its capital over more than once a year.
Major managers that reported this stock in their latest 13F.
None of the investors we track reported a position in SMID.
▲ +21.4% over 5Y.
today you would have $1,750.54▲ +75.1%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 15 closed years. Each multiple uses that year’s closing price and that year’s reported numbers — not today’s. The range is set by the annual reports on record.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $36.34 | $44.46 | $39.50 | $20.50 | $47.00 | $9.45 | $6.00 | $7.48 | $6.85 | $5.35 | $3.26 | $2.20 | $2.15 | $1.97 | $1.40 | |
| P/E | 17.2x | 15.4x |
Seven formulas applied to what the company reported. None of them predicts a price — each answers what the stock would be worth if its assumption held. The assumption is printed next to every number, because it is the assumption that produces the result.
Square root of 22.5 × earnings × book value — the two ceilings Graham proposed. Blind to intangibles, so it undervalues software and brands.
Earnings growing 25.0% a year plus a 0.0% dividend — Lynch adds the yield to the growth rate, so a payer is not priced like a company that returns nothing. Growth capped at 25%.
Median P/E of 19.7 among peers in the sector.
Median P/E of 17.2 across the years on record for this company itself. Answers whether it is cheap against its own past, which a whole sector trading low cannot flatter.
Cash flow growing 15.0% a year for 10 years, discounted at 10%, then 2.5% forever.
Sector median of 9.1x operating profit, less net debt. Sees the business before its financing, so debt does not distort the comparison. Banks have no EBITDA — interest is their revenue, not a cost.
Companies of similar size in Basic Materials, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| NICMNicola Mining Inc | $6.88 | — | 26.5x | — | — | $131.59M |
| CITRCitroTech Inc. | $6.09 | — | 15.2x | — | -431.00% | $136.11M |
| USGOU.S. GoldMining Inc. | $9.20 | — | 14.3x | — | -177.22% | $129.13M |
| ACNTAscent Industries Co | $15.43 |
Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs various precast concrete products and systems. The company offers SlenderWall lightweight construction panel, a lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, which are used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; and Easi-Set precast building and Easi-Span expandable precast buildings for use in housing communications operations, traffic control systems, and mechanical and electrical stations. It also provides Easi-Set utility vaults used to house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as manufactures custom-built utility vaults for special needs; SoftSound soundwall panels that absorbs highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage and street level leak detection product for panelized exterior cladding. The company licenses its proprietary products in the United States, Canada, New Zealand, Australia, Belgium, Mexico, and Trinidad. It markets its products through in-house sales force and independent sales representatives; contractors performing public and private construction contracts, such as construction of commercial buildings, public and private roads and highways, airports, and municipal utilities; and federal, state, and local transportation authorities. The company serves construction, highway, utilities, and farming industries. Smith-Midland Corporation was founded in 1960 and is based in Midland, Virginia.
Company description provided by Yahoo Finance.
| 30.7x |
| 263.3x |
| 136.7x |
| 32.4x |
| 18.5x |
| 15.8x |
| 22.7x |
| 12.9x |
| 9.6x |
| 15.5x |
| — |
| 15.4x |
| 24.6x |
| — |
| P/S | 0.8x | 2.1x | 3.0x | 3.5x | 2.1x | 4.9x | 1.1x | 0.7x | 1.0x | 0.8x | 0.7x | 0.5x | 0.5x | 0.4x | 0.4x | 0.3x |
| P/B | 2.0x | 3.6x | 5.7x | 6.1x | 3.3x | 7.7x | 2.1x | 1.5x | 2.0x | 2.0x | 1.9x | 1.4x | 1.0x | 0.9x | 0.9x | 0.6x |
| EPS | $2.36 | $1.45 | $0.15 | $0.15 | $1.45 | $0.51 | $0.38 | $0.33 | $0.53 | $0.56 | $0.21 | -$0.16 | $0.14 | $0.08 | -$0.07 |
| Dividend yield | 1.07% | — | — | — | — | — | — | 0.92% | 0.74% | 0.73% | 0.19% | 1.23% | 1.59% | 2.79% | 2.54% | — |
| Payout | 16.67% | — | — | — | — | — | — | 14.47% | 16.67% | 9.43% | 1.79% | 19.05% | — | 42.86% | 62.50% | — |
| Profit margin | 4.17% | 13.38% | 9.78% | 1.33% | 1.60% | 14.95% | 6.08% | 4.17% | 4.19% | 6.43% | 7.08% | 3.58% | -3.58% | 2.50% | 1.51% | -1.32% |
| ROE | 9.17% | 23.03% | 18.39% | 2.33% | 2.42% | 23.84% | 11.27% | 9.36% | 8.93% | 15.60% | 19.90% | 9.17% | -7.68% | 6.06% | 3.47% | -3.28% |
Median, not average: a single year of near-zero profit produces a P/E of 400 and would drag an average on its own. P/E years above 200x are left out, the same cut the fair price uses — so this median matches the “its own history” method below. Price and EPS have no median: they are series that grow.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Not the average of the seven numbers above. Four of the seven start from the same earnings per share — Graham, Lynch, sector multiples and its own history — so averaging all seven would let one input count four times and drown out the others. Instead each family produces one number, and the fair price is the average of the families that answered. A family with two working formulas contributes their average, not two votes.
6 methods answered, across 3 families.
Every formula reads the same reported statements and they can be wrong together. The margin is room for that.
+27.9% from the average.
These are models, not forecasts, and not investment advice. Change one assumption and the number changes with it — that is a property of valuation, not a defect of this page.
| — |
| 1.7x |
| — |
| -2.88% |
| $139.02M |
| GROBrazil Potash Corp. | $2.44 | — | 0.9x | — | -15.84% | $151.15M |
| AMTXAemetis Inc | $2.12 | — | — | — | — | $152.64M |