SMID on Nasdaq

SMITH MIDLAND CORP

SMITH MIDLAND CORP is an American concrete products company, incorporated in Delaware.1 Its shares trade on Nasdaq under the symbol SMID.1

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Last updated Oct 20, 2026.

Overview

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  • TickerSMID on Nasdaq1
  • IndustryConcrete Products, Except Block & Brick1
  • HeadquartersMidland, Virginia1
  • Incorporated inDE2
  • Business addressRoute 28, P O Box 300, Midland, Va 227282
  • Filer categoryNon-accelerated filer, Smaller reporting company2

Smith-Midland Corporation (the “Company”) invents, develops, manufactures, markets, leases, licenses, sells, and installs a broad array of precast concrete products and systems for use primarily in the construction, highway, utilities and farming industries through its six wholly-owned subsidiaries. The Company’s precast, licensing, and barrier rental customers are primarily general contractors and federal, state, and local transportation authorities located in the Mid-Atlantic, Northeastern, Midwestern and Southeastern regions of the United States. The Company’s operating strategy has involved producing and marketing innovative and proprietary products, including SlenderWall®, a lightweight, energy efficient concrete and steel exterior wall panel for use in building construction; J-J Hooks® Highway Safety Barrier, a positive-connected highway safety barrier; SoftSound™, a proprietary so…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

27.9%Gross margin4
18.2%Operating margin4
13.4%Net margin4
19.0%Revenue growth, 20254
23.0%Return on equity4
$5.0MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product Sales brought in 52% of the revenue SMITH MIDLAND CORP broke down this way in fiscal 2025.

  1. Product Sales$48.3M452%up 6% from 2024
  2. Service Revenue$45.2M448%up 37% from 2024
Products and services by year
Products and services20242025
Product Sales$45.6M$48.3M
Service Revenue$32.9M$45.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue72¢$67.4M
  • Other costs9¢$8.8M
  • Interest0¢$225.0K
  • Income tax5¢$4.5M
  • Profit13¢$12.5M

Out of $93.4M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Capital spending65¢$9.3M
  • Kept or used elsewhere35¢$5.0M

Out of $14.3M of cash from operations.4

Financial statements

Revenue567894$93.4M in 2025+100% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $46.7M$46.7M20192020: $43.9M$43.9M2020−6%2021: $50.6M$50.6M2021+15%2022: $50.1M$50.1M2022−1%2023: $59.6M$59.6M2023+19%2024: $78.5M$78.5M2024+32%2025: $93.4M$93.4M2025+19%
Gross profit567894$26.0M in 2025+161% since 2019
0$10.0M$20.0M$30.0M2019: $10.0M$10.0M20192020: $11.0M$11.0M2020+11%2021: $14.4M$14.4M2021+31%2022: $9.5M$9.5M2022−34%2023: $10.7M$10.7M2023+12%2024: $20.0M$20.0M2024+88%2025: $26.0M$26.0M2025+30%
Operating income567894$17.0M in 2025+567% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $2.5M$2.5M20192020: $3.8M$3.8M2020+48%2021: $6.2M$6.2M2021+64%2022: $854.0K$854.0K2022−86%2023: $1.1M$1.1M2023+31%2024: $9.9M$9.9M2024+785%2025: $17.0M$17.0M2025+72%
Net income567894$12.5M in 2025+542% since 2019
0$5.0M$10.0M$15.0M2019: $1.9M$1.9M20192020: $2.7M$2.7M2020+37%2021: $7.6M$7.6M2021+184%2022: $800.0K$800.0K2022−89%2023: $795.0K$795.0K2023−1%2024: $7.7M$7.7M2024+865%2025: $12.5M$12.5M2025+63%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Product sales$48.3M$45.6M
Barrier rentals$19.7M$12.0M
Royalty income$4.2M$3.3M
Shipping and installation revenue$21.3M$17.6M
Total revenue$93.4M$78.5M
Cost of sales$67.4M$58.5M
Gross profit$26.0M$20.0M
General and administrative expenses$5.7M$6.6M
Selling expenses$3.4M$3.6M
Total operating expenses$9.0M$10.1M
Operating income$17.0M$9.9M
Interest expense-$225.0K-$231.0K
Interest income$166.0K$47.0K
Gain on sale of assets$20.0K$19.0K
Other income, net$71.0K$84.0K
Total other income (expense), net$32.0K-$81.0K
Income before income tax expense$17.0M$9.8M
Income tax expense$4.5M$2.1M
Net income$12.5M$7.7M
Basic and diluted earnings per share$2.36$1.45

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Corporate structure

SMITH MIDLAND CORP sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SMITH MIDLAND CORP

  • THOMPSON DAVIS & CO., INC. Filed SCHEDULE 13D/A on SMITH MIDLAND CORP, latest Oct 7, 2026 (12 filings since May 16, 2023)
  • Rodney I. Smith Filed SCHEDULE 13G on SMITH MIDLAND CORP, latest Nov 14, 2025 (3 filings since Feb 13, 2023)
  • Wax Asset Management, LLC Filed SC 13G/A on SMITH MIDLAND CORP, latest Jan 31, 2022
  • SMITH MIDLAND CORP Midland, Virginia

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SMITH MIDLAND CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$62.7M4 Dec 31, 2025$53.2M4 Dec 31, 2024+17.8%
Accumulated depreciation$24.2M4 Dec 31, 2025$21.5M4 Dec 31, 2024+12.7%
Property and equipment, net$38.5M4 Dec 31, 2025$31.7M4 Dec 31, 2024+21.4%

Inventory

ItemLatestA year beforeChange
Raw materials$1.7M4 Dec 31, 2025$2.1M4 Dec 31, 2024−17.7%
Finished goods$5.2M4 Dec 31, 2025$4.6M4 Dec 31, 2024+13.5%

Properties, in its own words

Facilities

The Company operates three manufacturing facilities. The largest manufacturing operations facility is a 44,000 square foot manufacturing plant located on approximately 58 acres of land in Midland, Virginia, which the Company owns. The manufacturing facility houses two concrete mixers and one concrete blender. The plant also includes two environmentally controlled casting areas, three batch plants, a form fabrication shop, a welding and metal fabrication facility, a carpentry shop, a quality control center and a covered steel reinforcing fabrication area of approximately 8,000 square feet. The Company’s Midland facility also includes a large storage yard for inventory and stored materials.

The rest of Item 2

The Company owns an additional 19 acres in Midland, Virginia, approximately two miles from the operations facility, and is utilized as a storage yard for the rental barriers.

The Company’s second manufacturing facility is located in Reidsville, North Carolina on 46 acres of owned land and includes a 30,000 square foot manufacturing plant and administrative offices with additional space for future expansion. The Company completed a plant expansion in 2024, which doubled the size of this facility. The previous North Carolina facility, on 10 acres of owned land, including an 8,000 square foot manufacturing plant with administrative offices, remains operational with future use not determined at this time.

The Company’s third manufacturing facility is located in Hopkins (Columbia), South Carolina. The facility is located on 39 acres of land owned by the Company and has approximately 40,000 square feet of production space and administrative offices. The South Carolina facility gives the Company sufficient capacity to cover additional territory from the Atlantic Coast region to the northern part of Florida.

The Company’s present facilities are adequate for its current needs.

Item 2 of the 10-K filed Apr 14, 2026.3

Leadership

Who has led SMITH MIDLAND CORP, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (10)

Timeline

  1. Aug 25, 20268-K Regulation FD disclosure31
  2. Aug 14, 20268-K Results of operations32
  3. Jul 23, 20268-K Shareholder vote33
  4. Jun 11, 20268-K Regulation FD disclosure34
  5. Jun 9, 20268-K Results of operations35
  6. Jun 4, 20268-K Listing notice or transfer36
  7. Apr 14, 20268-K Results of operations37
  8. Mar 24, 20268-K Results of operations38
  9. Nov 14, 20258-K Results of operations39
  10. Aug 21, 20258-K Regulation FD disclosure40
  11. Aug 14, 20258-K Results of operations41
  12. Aug 6, 20258-K Shareholder vote42
  13. Dec 11, 2018New chief executive Ashley B. Smith becomes CEO12
  14. May 30, 2006New chief executive Rodney I. Smith becomes CEO13

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202643

When it reported results

  1. Aug 14, 2026Reported quarterly or annual results32
  2. Jun 9, 2026Reported quarterly or annual results35
  3. Apr 14, 2026Reported quarterly or annual results37
  4. Mar 24, 2026Reported quarterly or annual results38
  5. Nov 14, 2025Reported quarterly or annual results39
  6. Aug 14, 2025Reported quarterly or annual results41
  7. Jul 10, 2025Reported quarterly or annual results44
  8. May 28, 2025Reported quarterly or annual results45

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

154 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 52 major events, 45 insider forms, 16 large holders, 20 other. The latest 20:

  1. Oct 7, 2026SCHEDULE 13D/A EDGAR
  2. Sep 4, 20264/A FORM 4 EDGAR
  3. Sep 4, 20264/A FORM 4 EDGAR
  4. Sep 4, 20264/A FORM 4 EDGAR
  5. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 3, 20264 EDGAR
  7. Sep 2, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 25, 20268-K EDGAR
  9. Aug 14, 202610-Q EDGAR
  10. Aug 14, 20268-K EDGAR
  11. Jul 23, 20268-K EDGAR
  12. Jun 11, 20268-K EDGAR
  13. Jun 10, 202610-Q EDGAR
  14. Jun 9, 20268-K EDGAR
  15. Jun 4, 2026ARS EDGAR
  16. Jun 4, 20268-K EDGAR
  17. Jun 2, 2026DEF 14A EDGAR
  18. May 14, 2026NT 10-Q EDGAR
  19. Apr 14, 202610-K EDGAR
  20. Apr 14, 20268-K EDGAR

The 154 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

10 open-market trades by officers, directors and large owners since October 2021: 2 buys and 8 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 2, 2026Smith Matthew IDirectorBuy2,000$27.15$54.3KForm 4
Sep 1, 2026SMITH ASHLEY BChief Executive OfficerBuy2,000$26.87$53.7KForm 4
Nov 24, 2025Gerhardt RichardDirectorSale666$33.26$22.2KForm 4
Aug 22, 2025SMITH RODNEY I10% ownerSale13,656$41.36$564.8KForm 4
Aug 21, 2025SMITH RODNEY I10% ownerSale1,290$40.00$51.6KForm 4
Aug 20, 2025Bruner James RussellDirectorSale6,000$39.06$234.4KForm 4
Aug 19, 2025SMITH RODNEY I10% ownerSale54$42.76$2.3KForm 4
Jun 14, 2024Gerhardt RichardDirectorSale1,334$36.50$48.7KForm 4
Jun 8, 2023TAYLOR WESLEY ADirectorSale3,700$17.57$65.0KForm 4
Jun 7, 2023TAYLOR WESLEY ADirectorSale1,300$17.44$22.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Ashley B. Smith64$479.1K$628.3K49
2025Dominic L. Hunter63$187.5K$187.5K49
2024Chief Executive Officer and President$377.3K$473.5K49
2024Stephanie Poe$107.3K$133.3K49

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 56. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Thompson Davis & Co., Inc.1,824,119$52.9M31.6%−17,656
Needham Investment Management LLC225,000$6.5M0.2%No change
BlackRock, Inc.196,437$5.7M0.0%+35,330
Vanguard Capital Management LLC137,332$4.0M0.0%−42,981
Geode Capital Management, LLC89,742$2.6M0.0%+6,842
Bard Associates Inc79,875$2.3M0.5%−458
RBF Capital, LLC74,200$2.2M0.1%No change
Rice Hall James & Associates, LLC53,979$1.6M0.1%+2,633
Dimensional Fund Advisors LP50,555$1.5M0.0%+5,826
State Street Corp45,713$1.3M0.0%−520
Vanguard Fiduciary Trust Co30,044$871.3K0.0%+2,068
Northern Trust Corp25,844$749.5K0.0%−2,230
Morgan Stanley22,883$663.6K0.0%+9,940
Topline Capital Management, LLC20,012$580.3K0.2%New
Vanguard Portfolio Management LLC19,373$561.8K0.0%+2,950
Intrust Bank Na12,098$350.8K0.0%No change
Bank of New York Mellon Corp11,222$325.4K0.0%+475
Waverly Advisors, LLC10,004$290.1K0.0%No change
Goldman Sachs Group Inc8,902$258.2K0.0%+1,758
Charles Schwab Investment Management Inc8,726$253.1K0.0%+1,281
Los Angeles Capital Management LLC7,085$205.5K0.0%No change
UBS Group AG6,582$190.9K0.0%−526
Caldwell Sutter Capital, Inc.3,272$94.9K0.0%No change
Wells Fargo & Company/mn2,615$75.8K0.0%+1,568
Jpmorgan Chase & Co2,162$63.8K0.0%+54

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How SMITH MIDLAND CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSMITH MIDLAND CORP1
  • CIK0000924719
  • Employer ID (EIN)54-17270603
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3272 Concrete Products, Except Block & Brick1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business addressRoute 28, P O Box 300, Midland, VA 227281
  • Mailing addressRt 28, Po Box 300, Midland, VA 227281
  • Phone54043932661
  • Shares outstanding5,304,606 as of Aug 1, 202611
  • Public float$93.1M as of Jun 30, 20253
  • AuditorBDO USA, P.C., Richmond, Virginia PCAOB ID 243; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMay 16, 19961
  • Filings602 in all: 8-K (148), 4 (125), 10-Q (57), 10QSB (35), DEF 14A (29), SC 13G/A (25), NT 10-Q (24), SC 13G (21)1
    All 38 form types

    10-K (19), 3 (18), ARS (13), NT 10-K (13), SC 13D/A (13), 10KSB (8), 10-K/A (5), S-8 (5), 10-Q/A (4), SC 13D (4), UPLOAD (4), 10KSB40 (3), 144 (3), 4/A (3), 424B3 (3), CORRESP (3), 10QSB/A (2), 8-K/A (2), SCHEDULE 13D/A (2), 10KSB40/A (1), 144/A (1), 25 (1), 8-A12B (1), 8-A12G (1), CERT (1), DEFA14A (1), PRE 14A (1), S-3 (1), S-3/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Apr 14, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jun 2, 2026
    Latest 8-K (8-K) Aug 25, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par value per shareSMIDNASDAQ

From the cover page of the 10-K filed Apr 14, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

Legal proceedings

The Company is not presently involved in any litigation of a material nature.

The opening of Item 3, Legal Proceedings.3

Sources

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