Smith-Midland Corporation
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $93.4M | $78.5M | $59.6M | $50.1M | $50.6M | $43.9M | $46.7M | $40.2M |
| Cost of Revenue | $67.4M | $58.5M | $48.9M | $40.7M | $36.2M | $32.8M | $36.7M | $29.7M |
| Gross Profit | $26.0M | $20.0M | $10.7M | $9.5M | $14.4M | $11.0M | $10.0M | $10.5M |
| Gross Margin | 27.9% | 25.5% | 17.9% | 18.9% | 28.5% | 25.2% | 21.4% | 26.1% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $5.7M | $6.6M | $6.0M | $5.6M | $5.4M | $5.0M | $4.9M | $5.7M |
| Operating Income | $17.0M | $9.9M | $1.1M | $854.0K | $6.2M | $3.8M | $2.5M | $2.2M |
| Operating Margin | 18.2% | 12.6% | 1.9% | 1.7% | 12.2% | 8.6% | 5.5% | 5.5% |
| Interest Expense | $225.0K | $231.0K | $255.0K | $260.0K | $190.0K | $217.0K | $179.0K | $176.0K |
| Pretax Income | $17.0M | $9.8M | $1.3M | $945.0K | $9.1M | $3.8M | $2.5M | $2.3M |
| Income Tax Expense | $4.5M | $2.1M | $528.0K | $145.0K | $1.5M | $1.1M | $549.0K | $572.0K |
| Net Income | $12.5M | $7.7M | $795.0K | $800.0K | $7.6M | $2.7M | $1.9M | $1.7M |
| Net Margin | 13.4% | 9.8% | 1.3% | 1.6% | 14.9% | 6.1% | 4.2% | 4.2% |
| EPS (Basic) | $2.36 | $1.45 | $0.15 | $0.15 | $1.45 | $0.51 | $0.00 | $0.00 |
| EPS (Diluted) | $2.36 | $1.45 | $0.15 | $0.15 | $1.45 | $0.51 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | 5.3M | 5.3M | 5.3M | 5.2M | 5.2M | 5.2M | 5.2M | 5.1M |
| Shares Outstanding (Diluted) | 5.3M | 5.3M | 5.3M | 5.3M | 5.2M | 5.2M | 5.2M | 5.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |