Professional
Added to YB: 2026-09-21
Pitch date: 2026-09-16
SMID [neutral]
Smith-Midland Corporation
-2.73%
current return
Author Info
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Company Info
Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs various precast concrete products and systems.
Market Cap
$128.5M
Pitch Price
$24.90
Price Target
N/A
Dividend
N/A
EV/EBITDA
8.49
P/E
16.63
EV/Sales
1.36
Sector
Construction Materials
Category
N/A
Pernas Research Passes On: Smith-Midland Corporation
SMID (pass): Smith-Midland is passed on despite credible opportunities in MASH-compliant highway-barrier replacement and off-site construction. Shares are down ~35% this year after revenue declined as several large barrier-rental contracts did not recur, while capex reached $9.3M in 2025 and could approach another $9M in 2026. At 8.6x EV/EBITDA, the valuation requires normalized free cash flow above $10M, still a few years away at best.
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