
As market concentration pushes valuations toward historic highs, funds that combine small-cap and mid-cap (SMID) companies present a compelling option. However, all SMID-cap funds aren't created equal.
Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products primarily for use in the construction, highway, utility, and agricultural industries. The company is headquartered in Midland, Virginia.
| Revenue (TTM) | $89.50M |
| Gross Profit (TTM) | $21.00M |
| EBITDA | $14.37M |
| Operating Margin | 8.50% |
| Return on Equity | 14.50% |
| Return on Assets | 8.04% |
| Revenue/Share (TTM) | $16.87 |
| Book Value | $10.75 |
| Price-to-Book | 2.26 |
| Price-to-Sales (TTM) | 1.44 |
| EV/Revenue | 1.38 |
| EV/EBITDA | 8.48 |
| Quarterly Earnings Growth (YoY) | -66.90% |
| Quarterly Revenue Growth (YoY) | -10.80% |
| Shares Outstanding | $5.30M |
| Float | $2.74M |
| % Insiders | 13.98% |
| % Institutions | 57.49% |
Volatility is currently contracting

As market concentration pushes valuations toward historic highs, funds that combine small-cap and mid-cap (SMID) companies present a compelling option. However, all SMID-cap funds aren't created equal.

MIDLAND, VA / ACCESS Newswire / September 15, 2026 / Smith-Midland Corporation (NASDAQ:SMID), a leading manufacturer of innovative precast concrete products for transportation, infrastructure, and building construction, has secured a $2.2 million contract to manufacture and supply SlenderWall® architectural precast panels, architectural precast components, and precast stair systems for a new operations and office facility at Newport News Shipbuilding in Newport News, Virginia. The award further strengthens Smith-Midland's position in the architectural precast market while expanding its portfolio of projects serving government, industrial, and mission-critical infrastructure.

Thus far in 2026, small-caps have come back in a big way. As mega-cap tech concentration continues to push broad U.S. market valuations to the brink of historical highs, investors are seeking alternative paths for growth, and small-caps are offering attractive entry points.

Smith-Midland's Q2 revenues and earnings decline y/y on a tough year-ago barrier comparison, while backlog rises and data-center and infrastructure demand remain firm.

MIDLAND, VA / ACCESS Newswire / August 26, 2026 / Smith-Midland Corporation (NASDAQ:SMID), a leading manufacturer of innovative precast concrete products for transportation, infrastructure, and building construction, has been awarded a $2.2 million contract to manufacture and supply its SlenderWall® architectural precast wall system for the new U.S. Coast Guard Clinic and Visitors Center in Charleston, South Carolina, further expanding the company's portfolio of mission-critical government and military construction projects. The contract further strengthens Smith-Midland's position in the architectural precast market and demonstrates demand for SlenderWall® on complex institutional and government projects.

MIDLAND, VA / ACCESS Newswire / August 20, 2026 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced management will present at the Midwest IDEAS Investor Conference on Thursday, August 27, 2026 in Chicago, IL. The company's presentation is scheduled to begin at 11:15am CT and a webcast can be accessed through the conference host's main website: https://www.threepartadvisors.com/midwest Qualified investors interested in participating or learning more about the IDEAS conferences, please contact Lacey Wesley at (817) 769 -2373 or lWesley@IDEASconferences.com.

Company Reports Increasing Backlog to $57.4 Million MIDLAND, VA / ACCESS Newswire / August 14, 2026 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced its second quarter results for the period ended June 30, 2026. Second Quarter 2026 Summary (compared to prior-year second quarter) Revenue of $23.4 million compared to $26.2 million Gross Profit of $5.4 million compared to $7.8 million Operating income of $2.0 million compared to $5.5 million Net income of $1.4 million, or $0.26 per diluted share, compared to $4.2 million and $0.79 Announcements Subsequent to end of Second Quarter Secured $10 Million contract for I-81 project with Virginia Department Of Transportation Awarded $1.7 Million data center project in Louisiana Producing nearly $1 million in utility vaults for a data center project in Virginia "Our second quarter results benefited from tailwinds related to the ongoing barrier replacement cycle and continued demand for data centers, although total revenue and net income were lower due to a challenging comparison from last year's large special barrier project," said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland.

MIDLAND, VA / ACCESS Newswire / August 6, 2026 / Smith-Midland Corporation (NASDAQ:SMID), a leading manufacturer of innovative precast concrete products for transportation, infrastructure, and building construction, has been awarded a transportation infrastructure project valued at approximately $10 million to manufacture precast concrete SoftSound®, retaining wall components, and pre-stressed columns for Virginia Department of Transportation (VDOT) improvements along Interstate 81 near Roanoke, Virginia. This project, the third largest in Smith-Midland's history, includes the manufacturing of Smith-Midland's proven SoftSound® a proprietary sound absorptive concrete face that absorbs traffic noise into the sound wall, along with retaining wall elements and structural sound wall columns that will enhance the I-81 corridor improvements.

MIDLAND, VA / ACCESS Newswire / July 30, 2026 / Smith-Midland Corporation (NASDAQ:SMID), a leading manufacturer of innovative precast concrete products for transportation, infrastructure, and building construction, has secured a $1.7 million contract to manufacture and deliver multiple sizes of precast concrete utility vaults for a data center project in northern Louisiana. Smith-Midland is currently producing precast utility vaults at its manufacturing facility in Midland, with deliveries to Louisiana occurring through the end of 2026.

Higher-for-longer interest rates and ongoing market uncertainty have made SMID cap investing more difficult—and more interesting. The potential upside for this asset class is hard to ignore, and in this environment, an active approach like that offered by Baron SMID Cap ETF (BCSM) is more relevant than ever.
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