Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $40.0M | $41.7M | $40.2M | $46.7M | $43.9M | $50.6M | $50.1M | $59.6M | $78.5M | $93.4M |
| Revenue growth | — | 4.2% | -3.6% | 16.1% | -6.1% | 15.5% | -1.0% | 18.8% | 31.8% | 19.0% |
| Gross profit | $10.3M | $11.5M | $10.5M | $9.97M | $11.0M | $14.4M | $9.47M | $10.7M | $20.0M | $26.0M |
| Gross margin | 25.8% | 27.5% | 26.1% | 21.4% | 25.2% | 28.5% | 18.9% | 17.9% | 25.5% | 27.9% |
| Operating income | $4.34M | $3.71M | $2.22M | $2.55M | $3.76M | $6.17M | $854K | $1.12M | $9.90M | $17.0M |
| Operating margin | 10.8% | 8.9% | 5.5% | 5.5% | 8.6% | 12.2% | 1.7% | 1.9% | 12.6% | 18.2% |
| Net income | $2.83M | $2.68M | $1.69M | $1.95M | $2.67M | $7.57M | $800K | $795K | $7.67M | $12.5M |
| Net margin | 7.1% | 6.4% | 4.2% | 4.2% | 6.1% | 14.9% | 1.6% | 1.3% | 9.8% | 13.4% |
| EPS (diluted) | $0.56 | $0.53 | $0.33 | $0.38 | $0.51 | $1.45 | $0.15 | $0.15 | $1.45 | $2.36 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.00M | $2.93M | $8.47M | $3.93M | $7.49M | $9.13M | -$6.33M | $7.73M | $5.16M | $14.3M |
| Capital expenditures | $3.75M | $2.74M | $5.23M | $4.51M | $2.63M | $5.37M | $2.75M | $5.01M | $6.20M | $9.34M |
| Free cash flow | $250K | $185K | $3.24M | -$581K | $4.86M | $3.76M | -$9.08M | $2.72M | -$1.04M | $4.96M |
| Dividends paid | $0.00 | $49.0K | $256K | $281K | $282K | $0.00 | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $3.52M | $3.39M | — | $1.36M | $8.76M | $13.5M | $6.73M | $9.18M | $7.55M | $11.9M |
| Total assets | $23.4M | $29.2M | $41.4M | $42.1M | $46.5M | $53.3M | $54.3M | $61.3M | $68.0M | $87.7M |
| Total liabilities | $9.17M | $12.0M | $22.5M | $21.3M | $22.9M | $21.5M | $21.3M | $27.2M | $26.3M | $33.4M |
| Shareholders' equity | $14.2M | $17.2M | $18.9M | $20.8M | $23.6M | $31.8M | $33.1M | $34.2M | $41.7M | $54.3M |
| Retained earnings | $9.13M | $11.6M | $13.0M | $14.6M | $17.3M | $24.9M | $25.7M | $26.4M | $34.1M | $46.6M |
| Shares (wtd avg diluted) | 5.07M | 5.08B | 5.10B | 5.15B | 5.19M | 5.23B | 5.25M | 5.29M | 5.29M | 5.30M |
Every figure is extracted from SMITH MIDLAND CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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