SMID

Smith-MidlandNasdaqCM:SMID Stock Report

Market Cap

US$81.6m

7D

-0.1%

1Y

165.8%

Updated

22 Sep, 2021

Data

Company Financials
SMID fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance6/6
Financial Health5/6
Dividends0/6

SMID Overview

Smith-Midland Corporation, through its subsidiaries, invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products primarily for use in the construction, highway, utilities, and farming industries.

Price History & Performance

Summary of all time highs, changes and price drops for Smith-Midland
Historical stock prices
Current Share PriceUS$15.95
52 Week HighUS$5.54
52 Week LowUS$25.90
Beta0.70
1 Month Change-15.68%
3 Month Change-27.50%
1 Year Change165.83%
3 Year Change105.01%
5 Year Change348.82%
Change since IPO211.22%

Recent News & Updates

Sep 14
Is Smith-Midland (NASDAQ:SMID) Using Too Much Debt?

Is Smith-Midland (NASDAQ:SMID) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Aug 10
Returns At Smith-Midland (NASDAQ:SMID) Are On The Way Up

Returns At Smith-Midland (NASDAQ:SMID) Are On The Way Up

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically...

Shareholder Returns

SMIDUS Basic MaterialsUS Market
7D-0.1%-3.7%-1.8%
1Y165.8%50.2%31.5%

Return vs Industry: SMID exceeded the US Basic Materials industry which returned 50.2% over the past year.

Return vs Market: SMID exceeded the US Market which returned 31.5% over the past year.

Price Volatility

Is SMID's price volatile compared to industry and market?
SMID volatility
SMID Beta0.70
Industry Beta0.78
Market Beta1

Stable Share Price: SMID is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: SMID's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
1960166Ashley Smithhttps://www.smithmidland.com

Smith-Midland Corporation, through its subsidiaries, invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products primarily for use in the construction, highway, utilities, and farming industries. It offers SlenderWall, a lightweight construction panels for the exterior walls of building; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers for use 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. The company also provides Easi-Set utility vaults for house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as custom-built utility vaults for special needs; SoftSound soundwall panels to absorb highway noise; Beach Prisms, an erosion control module for seawalls and jetties; and H2Out secondary drainage systems for panelized exterior cladding.

Smith-Midland Fundamentals Summary

How do Smith-Midland's earnings and revenue compare to its market cap?
SMID fundamental statistics
Market CapUS$81.64m
Earnings (TTM)US$6.11m
Revenue (TTM)US$51.11m

13.4x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SMID income statement (TTM)
RevenueUS$51.11m
Cost of RevenueUS$35.01m
Gross ProfitUS$16.10m
ExpensesUS$9.99m
EarningsUS$6.11m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.18
Gross Margin31.50%
Net Profit Margin11.96%
Debt/Equity Ratio26.0%

How did SMID perform over the long term?

See historical performance and comparison

Valuation

Is Smith-Midland undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SMID ($15.95) is trading below our estimate of fair value ($38.98)

Significantly Below Fair Value: SMID is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SMID is good value based on its PE Ratio (13.4x) compared to the US Basic Materials industry average (16.6x).

PE vs Market: SMID is good value based on its PE Ratio (13.4x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SMID's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SMID is overvalued based on its PB Ratio (3x) compared to the US Basic Materials industry average (2.8x).


Future Growth

How is Smith-Midland forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.9%

Forecasted Materials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Smith-Midland has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Smith-Midland performed over the past 5 years?

9.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SMID has high quality earnings.

Growing Profit Margin: SMID's current net profit margins (12%) are higher than last year (3.8%).


Past Earnings Growth Analysis

Earnings Trend: SMID's earnings have grown by 9.1% per year over the past 5 years.

Accelerating Growth: SMID's earnings growth over the past year (254.6%) exceeds its 5-year average (9.1% per year).

Earnings vs Industry: SMID earnings growth over the past year (254.6%) exceeded the Basic Materials industry 51.2%.


Return on Equity

High ROE: SMID's Return on Equity (22.1%) is considered high.


Financial Health

How is Smith-Midland's financial position?


Financial Position Analysis

Short Term Liabilities: SMID's short term assets ($30.2M) exceed its short term liabilities ($14.0M).

Long Term Liabilities: SMID's short term assets ($30.2M) exceed its long term liabilities ($11.2M).


Debt to Equity History and Analysis

Debt Level: SMID's debt to equity ratio (26%) is considered satisfactory.

Reducing Debt: SMID's debt to equity ratio has increased from 25.9% to 26% over the past 5 years.

Debt Coverage: SMID's debt is well covered by operating cash flow (147.2%).

Interest Coverage: SMID's interest payments on its debt are well covered by EBIT (50.3x coverage).


Balance Sheet


Dividend

What is Smith-Midland current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate SMID's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SMID's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SMID's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SMID's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: SMID is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SMID's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.7yrs

Average management tenure


CEO

Ashley Smith (58 yo)

3.33yrs

Tenure

US$537,360

Compensation

Mr. Ashley B. Smith has been the Chief Executive Officer and President of Smith-Midland Corporation since May 24, 2018 and 2012 respectively. Mr. Smith served as Chief Operating Officer of Smith-Midland Co...


CEO Compensation Analysis

Compensation vs Market: Ashley's total compensation ($USD537.36K) is about average for companies of similar size in the US market ($USD552.02K).

Compensation vs Earnings: Ashley's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: SMID's management team is considered experienced (3.7 years average tenure).


Board Members

Experienced Board: SMID's board of directors are seasoned and experienced ( 26.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SMID insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Smith-Midland Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Smith-Midland Corporation
  • Ticker: SMID
  • Exchange: NasdaqCM
  • Founded: 1960
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: US$81.642m
  • Shares outstanding: 5.12m
  • Website: https://www.smithmidland.com

Number of Employees


Location

  • Smith-Midland Corporation
  • 5119 Catlett Road
  • PO Box 300
  • Midland
  • Virginia
  • 22728
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/22 22:34
End of Day Share Price2021/09/22 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.