# Smith-Midland Corporation (SMID) · Edgar & Edgarette company card

> Smith-Midland (SMID) grew revenue 19.0% in FY2025 to $93 million, operating margin 18.2%, equity 61.9% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 924719 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/SMID) · [JSON](https://www.pops4.com/boards/company/SMID.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $93M |
| Revenue growth, 1 year | 19.0% |
| Revenue growth per year | 16.6% |
| Operating margin | 18.2% (prior year 12.6%) |
| Net margin | 13.4% |
| Operating cash flow | $14M |
| Capital spending | $9M |
| Free cash flow | $5M |
| Cash | $12M |
| Long-term debt | — |
| Total assets | $88M |
| Total equity | $54M |
| Equity ÷ assets | 61.9% |
| Return on equity | 23.0% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 7.31 (safe zone)
- Piotroski F: 8 of 9 (strong)
- Health Harbor boat: Weathered boat · two warning signs · filed late annual report notice, late quarterly report notice in the last 12 months; revenue is hard to predict: its 80% range is ±31%
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $93.4M (FY2025). Experience: revenue up 19.0% on the year, up 16.6% a year over 4 years; operating margin 18.2%, up from 12.6%. Soundness: equity 61.9% of assets, return on equity 23.0%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $79.1M and $151.8M next year (method v4.1: its own 6-year record of growth weighed at 63% against $50M–100M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $81.1M to $148.4M. A statistical range, not company guidance. Against peers (9 filers, $50M+ revenue, its industry group): growth 19.0% against 3.2%.

Range logged 2026-10-28, receipt 2165a75997a26e3d, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-K Late annual report notice: 1, latest 2026-03-31 ([filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426003078/0001654954-26-003078-index.htm))
- Item 3.01 Exchange listing notice or transfer: 1, latest 2026-06-04 ([filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426005673/0001654954-26-005673-index.htm))
- Item NT 10-Q Late quarterly report notice: 1, latest 2026-05-14 ([filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426004890/0001654954-26-004890-index.htm))

## Recent filings

- 8-K · filed 2026-08-25 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426007861/0001654954-26-007861-index.htm)
- 10-Q · filed 2026-08-14 · [filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426007660/0001654954-26-007660-index.htm)
- 8-K · filed 2026-08-14 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426007658/0001654954-26-007658-index.htm)
- 8-K · filed 2026-07-23 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426006796/0001654954-26-006796-index.htm)
- 8-K · filed 2026-06-11 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426005864/0001654954-26-005864-index.htm)
- 10-Q · filed 2026-06-10 · [filing](https://www.sec.gov/Archives/edgar/data/924719/000165495426005829/0001654954-26-005829-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000924719.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=924719

## Cite

POPS4, Edgar & Edgarette: Smith-Midland Corporation (SMID) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/SMID. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.