How much debt does Smith-Midland have?

Smith-Midland had total debt of $4.45M as of Dec 31, 2025, against $11.88M in cash and short-term investments. Its debt-to-equity ratio was 0.08. Total debt was $5.21M a year earlier.

What are Smith-Midland's total assets?

Smith-Midland reported total assets of $87.73M as of Dec 31, 2025, up 29.0% from $67.99M a year earlier. Total liabilities were $33.42M.

What is Smith-Midland's shareholders' equity?

Smith-Midland's shareholders' equity was $54.30M as of Dec 31, 2025, or about $10.23 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry.

Smith-Midland (SMID) Balance Sheet: Assets & Liabilities

Smith-Midland Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Smith-Midland Corporation (SMID) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Mar 2025	Dec 2024	Mar 2024	Dec 2023	Mar 2023	Dec 2022	Mar 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	11.88	7.55	7.55	9.18	9.18	6.73	6.73	13.49	13.49	8.76	1.36	1.95	3.39
Short-Term Investments	0.00	0.00	-	0.00	-	0.00	-	0.00	-	1.23	1.18	1.11	1.10
Cash & Short-Term Investments	11.88	7.55	7.55	9.18	9.18	6.73	6.73	13.49	13.49	9.99	2.54	3.05	4.49
Accounts Receivable	28.40	20.77	20.75	17.73	17.73	17.69	17.21	10.86	10.45	10.54	13.47	14.50	10.58
Inventory	6.93	6.68	6.68	5.15	5.15	3.82	3.82	2.85	2.85	2.19	2.24	3.56	3.52
Other Current Assets	1.53	0.85	0.88	1.27	1.27	0.71	0.71	0.55	0.96	0.62	0.78	0.48	0.45
Total Current Assets	48.75	35.85	35.85	33.33	33.33	28.94	28.94	27.75	27.75	23.34	19.03	21.60	19.03
Non-Current Assets
Property, Plant & Equipment (Net)	38.48	31.70	31.70	27.68	27.68	25.12	25.12	21.93	25.32	18.60	17.74	14.10	9.87
Other Non-Current Assets	0.50	0.44	0.44	0.34	0.34	0.25	0.25	3.60	0.21	4.56	5.35	5.67	0.33
Total Non-Current Assets	38.98	32.14	32.14	28.02	28.02	25.37	25.37	25.52	25.52	23.16	25.57	19.77	10.19
Total Assets	87.73	67.99	67.99	61.35	61.35	54.31	54.31	53.28	53.28	46.50	44.60	41.37	29.23
Current Liabilities
Accounts Payable	5.48	4.74	4.74	7.34	7.34	5.82	5.82	2.07	2.07	1.87	3.18	4.21	3.06
Short-Term Debt	0.65	0.68	0.66	0.72	0.64	0.70	0.62	0.55	0.46	0.74	1.01	1.71	0.64
Current Portion of Long-Term Debt	0.65	-	0.66	-	0.64	-	0.62	-	0.46	0.74	-	-	-
Accrued Liabilities	0.91	-	0.43	-	0.83	-	0.80	-	3.73	2.19	-	-	-
Deferred Revenue	3.51	5.85	5.85	2.72	5.50	2.98	2.98	3.78	3.78	2.34	2.86	3.34	1.14
Other Current Liabilities	5.45	2.20	-	4.77	-	1.59	-	5.47	3.78	1.20	2.56	4.11	2.99
Total Current Liabilities	14.33	15.01	15.01	16.02	16.02	11.22	11.22	13.90	13.90	8.90	9.60	11.71	7.83
Non-Current Liabilities
Long-Term Debt	3.80	4.53	4.44	5.09	5.09	5.78	5.73	3.80	3.68	6.89	4.38	-3.80	2.90
Deferred Tax Liabilities	1.46	0.49	0.49	1.65	1.65	2.09	2.09	1.96	1.96	2.46	4.37	1.43	1.29
Other Non-Current Liabilities	0.00	0.00	6.72	0.00	6.08	0.00	4.26	0.00	3.82	3.79	0.00	0.00	0.00
Total Non-Current Liabilities	19.09	11.24	11.24	11.17	11.17	10.03	10.03	7.62	7.62	13.95	14.18	10.81	4.19
Total Liabilities	33.43	26.25	26.25	27.19	27.19	21.26	21.26	21.53	21.53	22.85	23.78	22.52	12.02
Stockholders' Equity
Common Stock	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05
Retained Earnings	46.58	34.07	34.07	26.40	26.40	25.66	25.66	24.86	24.86	17.29	14.63	12.96	11.56
Accumulated Other Comprehensive Income	0.00	0.00	-	-	-	0.00	-	0.00	-	0.00	-0.01	-0.04	-0.02
Treasury Stock	0.10	-	0.10	-	0.10	-	0.10	-	0.10	-	-	-	-
Additional Paid-in Capital	7.78	7.62	7.72	7.71	7.81	7.34	7.44	6.83	6.94	6.30	6.15	5.87	5.62
Shares Outstanding	5.31	-	5.30	-	5.31	-	5.30	-	5.23	-	-	-	-
Total Stockholders' Equity	54.30	41.74	41.74	34.16	34.16	33.06	33.06	31.75	31.75	23.65	20.82	18.85	17.21
Total Liabilities & Equity	87.73	67.99	67.99	61.35	61.35	54.31	54.31	53.28	53.28	46.50	44.60	41.37	29.23

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Smith-Midland Balance Sheet Analysis

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