Smith-Midland Corporation Financial Ratios — SMID Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	-5.85	6.38	11.07	-13.35	17.5	36.42	25.83	13.7	14.08	16.64	35.82	3.16	3.05	25.34	30.97
Return on Assets (%)	-1.97	2.19	3.9	-4.61	5.94	13.42	10.2	4.78	4.67	6.01	15.17	1.49	1.37	11.87	16.06
Return on Capital (%)	- -	5.14	8.44	- -	13.05	26.73	19.94	11.14	11.11	12.43	28.34	3.32	2.94	21.96	28
Return on Invested Capital (%)	- -	2.83	5.3	- -	7.81	18.25	13.9	7.58	8.11	9.19	14.81	1.89	1.71	17.8	23.28
Gross Margin (%)	17.24	21.88	23.72	17.11	24.35	25.84	27.48	26.08	21.35	25.17	28.47	18.89	17.88	25.49	27.86
EBITDA Margin (%)	1	5.03	6.48	-3.18	7.69	12.88	11.12	8.61	9.29	14.07	17.45	7.45	5.9	16	21.28
Operating Margin (%)	-1.67	2.32	4.19	-6.02	5.4	10.83	8.91	5.51	5.45	8.57	12.18	1.7	1.88	12.61	18.19
Incremental Operating Margin (%)	- -	-56.78	20.7	- -	43.5	25.44	-37.25	100.13	5.1	-42.88	35.53	1,039.92	2.79	46.39	47.5
Pretax Margin (%)	-1.83	2.24	3.91	-5.8	5.48	10.73	8.97	5.62	5.35	8.65	17.96	1.89	2.22	12.51	18.22
Profit Margin (%)	-1.32	1.51	2.5	-3.58	3.58	7.08	6.43	4.19	4.17	6.08	14.95	1.6	1.33	9.78	13.38
Net Income to Common Margin (%)	-1.32	1.51	2.5	-3.58	3.58	7.08	6.43	4.19	4.17	6.08	14.95	1.6	1.33	9.78	13.38
Effective Tax Rate (%)	- -	32.58	36.12	- -	34.78	34.02	28.25	25.32	21.98	29.72	16.76	15.34	39.91	21.83	26.55
Dvd Payout Ratio (%)	- -	63.88	20.89	-21.65	18.61	- -	1.83	15.17	14.42	10.58	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	-5.85	2.3	8.76	-16.23	14.25	36.42	25.35	11.62	12.05	14.88	35.82	3.16	3.05	25.34	30.97

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	3	3	3	3	3	4	4	5	5	8	4	6	6	5	5
ST Debt	- -	- -	- -	- -	- -	1	1	2	1	1	1	1	1	1	1
LT Debt	3	3	3	2	2	3	3	3	4	7	4	6	5	5	4
Total Debt/EBITDA	12.77	2.39	1.62	-3.62	1.12	0.76	0.76	1.3	1.24	1.28	0.49	1.73	1.64	0.41	0.23
Net Debt/EBITDA	4.78	-1.1	-0.13	1.37	0.35	0.08	0.03	0.74	0.84	-0.18	-1.06	-0.1	-0.98	-0.2	-0.37
Total Debt/EBIT	-7.63	5.18	2.51	-1.92	1.59	0.91	0.95	2.03	2.12	2.11	0.71	7.58	5.16	0.53	0.27
Net Debt/EBIT	-2.85	-2.38	-0.2	0.72	0.49	0.09	0.04	1.15	1.43	-0.3	-1.52	-0.44	-3.08	-0.25	-0.44
EBITDA to Interest Expense	1.96	9.28	13.6	-6.16	21.78	31.83	25.22	19.68	24.24	28.44	46.52	14.37	13.79	54.39	88.36
EBITDA-CapEx/Interest Expense	-3.5	8.47	6.72	-10.17	5.91	8.72	10.33	-41.35	-2.97	16.33	18.27	3.79	-5.85	27.53	46.86
EBIT to Interest Expense	-3.28	4.28	8.79	-11.63	15.3	26.77	20.19	12.59	14.22	17.32	32.46	3.28	4.38	42.85	75.53
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	33.3	35.51	34.95	34	33.91	39.2	39.72	31.46	34.86	37.3	46.77	47.35	43.11	50.19	53.15
Long-Term Debt/Equity (%)	27.89	24.49	22.29	21.29	18.23	23.49	16.83	14.81	21.05	30.02	11.97	17.47	14.91	10.84	7.12
Long-Term Debt/Capital (%)	32.39	29.69	26.99	27.42	23.32	25.52	19.13	15.94	21.83	28.09	12.99	17.94	15.81	11.51	7.56
Long-Term Debt/Total Assets (%)	17.08	15.82	13.64	13.68	11.02	14.29	9.91	6.75	10.4	15.27	7.14	10.63	8.3	6.66	4.41
Total Debt/Equity (%)	31.73	27.52	25.48	24.77	22.06	27.61	20.53	23.89	25.88	33.51	13.71	19.57	16.9	12.47	8.35
Total Debt/Capital (%)	36.84	33.37	30.85	31.89	28.22	30	23.34	25.71	26.85	31.36	14.87	20.1	17.92	13.23	8.87
Total Debt/Total Assets (%)	19.42	17.78	15.59	15.92	13.33	16.8	12.09	10.88	12.79	17.04	8.17	11.91	9.41	7.66	5.17
Net Debt to Equity	11.87	-12.67	-1.99	-9.34	6.82	2.88	0.83	13.57	17.52	-4.8	-29.45	-1.14	-10.09	-5.88	-13.7
Net Debt/Capital (%)	17.92	-29.95	-3.61	-21.44	10.84	4.28	1.22	16.42	19.5	-6.88	-59.26	-1.48	-14.96	-7.72	-18.93
EBITDA	- -	1	2	-1	2	5	5	3	4	6	9	4	4	13	20
EBITDA-CapEx	- -	1	1	-1	1	1	2	-7	-1	4	3	1	-1	6	11
Operating Income (Loss)	- -	1	1	-1	2	4	4	2	3	4	6	1	1	10	17

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.71	1.68	1	1.56	0.61	0.9	0.57	0.26	0.26	1.12	0.97	0.6	0.57	0.5	0.83
Current Ratio	4.26	4.81	3.45	4.07	2.98	3.01	2.43	1.82	1.98	2.62	2	2.58	2.08	2.39	3.4
Quick Ratio	3.13	3.65	2.8	3.29	2.24	2.43	1.92	1.48	1.67	2.31	1.75	2.18	1.68	1.89	2.81
CFO/Avg Current Liab	-0.03	1.04	0.25	0.41	0.01	0.83	0.45	0.86	0.37	0.81	0.8	-0.5	0.57	0.33	0.97
Common Equity/Total Assets	33.3	35.51	34.95	34	33.91	39.2	39.72	31.46	34.86	37.3	46.77	47.35	43.11	50.19	53.15
Long-Term Debt/Equity (%)	27.89	24.49	22.29	21.29	18.23	23.49	16.83	14.81	21.05	30.02	11.97	17.47	14.91	10.84	7.12
Long-Term Debt/Capital (%)	32.39	29.69	26.99	27.42	23.32	25.52	19.13	15.94	21.83	28.09	12.99	17.94	15.81	11.51	7.56
Long-Term Debt/Total Assets (%)	17.08	15.82	13.64	13.68	11.02	14.29	9.91	6.75	10.4	15.27	7.14	10.63	8.3	6.66	4.41
Total Debt/Equity (%)	31.73	27.52	25.48	24.77	22.06	27.61	20.53	23.89	25.88	33.51	13.71	19.57	16.9	12.47	8.35
Total Debt/Capital (%)	36.84	33.37	30.85	31.89	28.22	30	23.34	25.71	26.85	31.36	14.87	20.1	17.92	13.23	8.87
Total Debt/Total Assets (%)	19.42	17.78	15.59	15.92	13.33	16.8	12.09	10.88	12.79	17.04	8.17	11.91	9.41	7.66	5.17
CFO/Total Liabilities	-1.22	48.54	11.33	24.49	0.25	43.57	24.34	37.62	18.47	32.77	42.4	-29.8	28.44	19.65	42.79
CFO/CapEx	-0.11	26.2	0.9	3.06	0.01	1.07	1.07	0.79	0.81	2.85	1.7	-2.3	1.54	0.83	1.53
Altman's Z-Score	3.16	3.75	3.68	3.35	4.15	5.08	4.56	2.87	2.93	3.39	9.12	5.06	6.56	8.08	6.38

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	3.47	4.04	4.45	3.85	5.16	5.54	5	3.53	3.51	3.72	4.82	3.62	3.41	4.08	3.8
Days Sales Outstanding	105.19	90.35	81.98	94.8	70.78	65.85	72.96	103.51	104.08	98.08	75.65	100.71	107.05	89.45	95.99
Inventory Turnover	11.68	9.62	10.46	10.16	10.47	11.71	9.93	8.4	12.66	14.8	14.38	12.21	10.91	9.89	9.91
Days Inventory Outstanding	31.26	37.95	34.91	35.92	34.86	31.17	36.76	43.43	28.83	24.67	25.39	29.91	33.45	36.9	36.83
Accounts Payable Turnover	20.47	22.08	17.19	13.79	15.79	15.53	12.11	8.19	9.58	12.99	18.73	10.56	7.64	9.94	13.24
Accounts Payable Turnover Days	17.83	16.53	21.23	26.47	23.12	23.5	30.13	44.57	38.1	28.1	19.49	34.57	47.76	36.72	27.58
Cash Conversion Cycle	118.62	111.77	95.66	104.25	82.52	73.52	79.58	102.37	94.81	94.65	81.55	96.05	92.74	89.63	105.25
Inventory to Cash Days	73.94	52.41	47.07	58.88	35.91	34.69	36.2	60.08	75.24	73.42	50.26	70.81	73.6	52.56	59.15
Inventories	2	2	2	2	2	3	4	4	2	2	3	4	5	7	7
Raw Materials	1	- -	1	- -	1	1	1	1	- -	1	1	2	2	2	2
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	1	2	1	1	2	2	3	3	2	2	2	2	3	5	5
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	7	10	10	11	16	26	34	38	31	49	245	107	208	235	193
- Cash & Cash Equivalents	2	4	3	4	2	4	3	2	1	9	13	7	9	8	12
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	3	3	3	3	3	4	4	5	5	8	4	6	6	5	5
Enterprise Value	8	8	9	9	16	25	33	39	34	47	235	107	204	233	185
Total Capital	9	9	9	8	9	13	15	18	20	25	29	32	32	39	51
Total Debt/Capital (%)	36.84	33.37	30.85	31.89	28.22	30	23.34	25.71	26.85	31.36	14.87	20.1	17.92	13.23	8.87
Total Debt / EV	0.43	0.37	0.31	0.3	0.16	0.16	0.11	0.12	0.16	0.17	0.02	0.06	0.03	0.02	0.02
EV/Sales	0.3	0.33	0.33	0.39	0.54	0.63	0.79	0.97	0.72	1.07	4.65	2.13	3.43	2.97	1.98
EV/EBITDA	29.93	6.5	5.16	- -	6.99	4.87	7.11	11.29	7.77	7.6	26.64	28.65	58.09	18.53	9.33
EV/EBIT	- -	14.08	7.98	- -	9.95	5.8	8.89	17.64	13.24	12.48	38.18	125.32	182.73	23.52	10.91
EV/Cash Flow to Firm	531.48	2.73	10.24	5.84	182.24	6.13	10.8	4.54	8.28	6.14	25.37	- -	25.91	43.61	12.82
EV/Free Cash Flow to Firm	10.53	2.63	5.11	4.45	9.12	3.2	5.69	2.02	3.77	4.57	16.07	- -	15.84	20.17	7.79
Diluted Market Cap	7	10	10	11	16	26	34	38	31	49	246	108	209	235	193
Diluted Enterprise Value	8	8	10	10	17	27	34	40	35	48	237	107	206	233	185
EV per Share	1.67	1.68	1.91	1.79	3.21	5.09	6.55	7.7	6.55	9.05	45.24	20.45	38.85	44.02	34.96
TTM Sales	27	25	28	22	29	40	42	40	47	44	51	50	60	79	93
TTM EBITDA	- -	1	2	-1	2	5	5	3	4	6	9	4	4	13	20
TTM Operating Income	- -	1	1	-1	2	4	4	2	3	4	6	1	1	10	17
TTM Cash Flow to Firm	- -	3	1	1	- -	4	3	9	4	8	9	-6	8	5	14
TTM Free Cash Flow to Firm	1	3	2	2	2	8	6	19	9	10	15	-3	13	12	24

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	10.17	3.2	6.07	5.68	9.75	3.42	6.04	1.97	3.51	4.85	16.97	-30.04	16.41	20.7	8.16
EV/EBIT	- -	14.08	7.98	- -	9.95	5.8	8.89	17.64	13.24	12.48	38.18	125.32	182.73	23.52	10.91
Enterprise Value	8	8	9	9	16	25	33	39	34	47	235	107	204	233	185
Low Price	1.34	1.06	1.5	1.8	2.05	1.72	5.13	6.28	5.35	2.95	8.84	13	14	25.03	25.13
EV/Sales	0.3	0.33	0.33	0.39	0.54	0.63	0.79	0.97	0.72	1.07	4.65	2.13	3.43	2.97	1.98
EV/EBITDA	29.93	6.5	5.16	- -	6.99	4.87	7.11	11.29	7.77	7.6	26.64	28.65	58.09	18.53	9.33
Price/Earnings	- -	25.24	15.05	- -	15.28	9.09	12.66	22.32	15.83	18.39	32.32	134.1	261.25	30.64	15.42
Price/Earnings Average	-24.29	18.23	12.9	-12.76	11.88	5.36	12.79	24.6	20.31	11.85	12.69	134.83	142.97	25.66	15.04
Price/Earnings High	-33.24	25.24	15.4	-16.62	16.83	9.26	16.51	29.15	24.91	18.39	33	313.89	270.31	35.81	19.31
Price/Earnings Low	-18.25	13.58	10.5	-10.92	9.61	3	9.63	18.9	14.12	5.74	6.08	85.04	92.59	17.25	10.66
Price/Book Value	1.15	1.59	1.6	1.94	2.5	2.81	2.93	2.89	2.1	2.82	9.82	4.17	7.85	6.89	4.13
Price/Book Value Average	1.46	1.15	1.37	1.85	1.94	1.66	2.96	3.19	2.7	1.82	3.86	4.19	4.3	5.77	4.03
Price/Book Value High	2	1.59	1.63	2.41	2.75	2.86	3.82	3.78	3.31	2.82	10.02	9.76	8.12	8.05	5.18
Price/Book Value Low	1.1	0.86	1.11	1.59	1.57	0.93	2.23	2.45	1.87	0.88	1.85	2.65	2.78	3.88	2.86
Price/Tangible Book Value	0.63	0.88	0.91	1.03	1.4	1.81	1.97	2	1.48	2.07	7.71	3.25	6.08	5.63	3.55
Price/Tangible Book Value Average	0.8	0.63	0.78	0.98	1.09	1.07	2	2.2	1.9	1.34	3.03	3.26	3.33	4.72	3.46
Price/Tangible Book Value High	1.09	0.88	0.93	1.28	1.54	1.84	2.57	2.61	2.33	2.07	7.87	7.6	6.29	6.58	4.45
Price/Tangible Book Value Low	0.6	0.47	0.64	0.84	0.88	0.6	1.5	1.69	1.32	0.65	1.45	2.06	2.15	3.17	2.45
Price/Sales	0.25	0.38	0.38	0.48	0.55	0.64	0.81	0.94	0.66	1.12	4.83	2.14	3.49	3	2.06
Price/Sales Average	0.32	0.28	0.32	0.46	0.42	0.38	0.82	1.03	0.85	0.72	1.9	2.15	1.91	2.51	2.01
Price/Sales High	0.44	0.38	0.38	0.6	0.6	0.66	1.06	1.22	1.04	1.12	4.93	5.01	3.61	3.5	2.58
Price/Sales Low	0.24	0.21	0.26	0.39	0.34	0.21	0.62	0.79	0.59	0.35	0.91	1.36	1.24	1.69	1.43
Price/Cash Flow	-80.7	3.29	12.69	7.53	844.83	6.45	11.61	4.44	7.85	6.54	26.81	-16.94	26.86	45.59	13.48
Price/Cash Flow Average	-102.81	2.38	10.88	7.2	656.74	3.8	11.74	4.9	10.07	4.22	10.53	-17.03	14.7	38.18	13.15
Price/Cash Flow High	-140.65	3.29	12.99	9.38	930.35	6.57	15.14	5.8	12.35	6.54	27.37	-39.64	27.79	53.28	16.89
Price/Cash Flow Low	-77.24	1.77	8.85	6.16	531.26	2.13	8.83	3.76	7	2.04	5.04	-10.74	9.52	25.67	9.32
Price/Free Cash Flow Average	12.95	2.31	5.21	5.43	7.58	2.02	6.1	2.17	4.5	3.12	6.66	-30.2	8.98	17.33	7.95
Price/Free Cash Flow High	17.72	3.2	6.21	7.07	10.73	3.48	7.87	2.57	5.52	4.85	17.32	-70.31	16.97	24.19	10.22
Price/Free Cash Flow Low	9.73	1.72	4.24	4.64	6.13	1.13	4.59	1.66	3.13	1.51	3.19	-19.05	5.81	11.65	5.64
EV/Sales Average	0.37	0.22	0.31	0.41	0.45	0.39	0.83	1.1	0.93	0.7	1.72	2.15	1.85	2.48	1.93
EV/Sales High	0.49	0.33	0.38	0.55	0.63	0.67	1.07	1.29	1.13	1.1	4.75	5	3.55	3.47	2.51
EV/Sales Low	0.29	0.15	0.25	0.35	0.37	0.22	0.62	0.86	0.68	0.33	0.73	1.35	1.18	1.66	1.35
EV/EBITDA Average	36.82	4.39	4.84	-12.98	5.87	3.03	7.43	12.72	10.05	4.98	9.84	28.81	31.35	15.49	9.09
EV/EBITDA High	48.62	6.5	5.8	-17.32	8.18	5.17	9.58	14.94	12.12	7.8	27.23	67.16	60.13	21.69	11.78
EV/EBITDA Low	28.85	2.99	3.92	-10.91	4.82	1.73	5.6	9.94	7.27	2.34	4.17	18.15	19.96	10.35	6.34
EV/EBIT Average	-22	9.5	7.49	-6.87	8.36	3.6	9.28	19.88	17.13	8.18	14.09	126	98.62	19.66	10.63
EV/EBIT High	-29.05	14.08	8.98	-9.17	11.64	6.15	11.96	23.34	20.65	12.81	39.02	293.74	189.17	27.53	13.78
EV/EBIT Low	-17.24	6.47	6.06	-5.77	6.86	2.06	6.99	15.54	12.39	3.85	5.98	79.36	62.8	13.14	7.41
Last Price	1.4	1.97	2.15	2.2	3.26	5.22	6.74	7.41	6	9.45	47	20.5	39.5	44.46	36.34
High Price	2.44	1.97	2.2	2.74	3.59	5.32	8.79	9.68	9.44	9.45	47.99	47.99	40.87	51.96	45.52
Enterprise Value Average	10	5	9	9	13	16	34	44	44	31	87	108	110	195	181
Enterprise Value High	13	8	10	12	18	27	44	52	53	48	241	251	211	272	234
Enterprise Value Low	8	4	7	8	11	9	26	34	32	14	37	68	70	130	126

Shares Outstanding	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Diluted Weighted Avg Shares	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Basic Weighted Avg Shares	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Revenue per Share	5.57	5.16	5.73	4.6	5.97	8.12	8.27	7.92	9.08	8.46	9.73	9.58	11.33	14.84	17.61
EBITDA per Share	0.06	0.26	0.37	-0.15	0.46	1.05	0.92	0.68	0.84	1.19	1.7	0.71	0.67	2.38	3.75
Operating Income per Share	-0.09	0.12	0.24	-0.28	0.32	0.88	0.74	0.44	0.5	0.72	1.19	0.16	0.21	1.87	3.2
Basic EPS, GAAP	-0.07	0.08	0.14	-0.16	0.21	0.57	0.53	0.33	0.38	0.51	1.45	0.15	0.15	1.45	2.36
Basic EPS from Cont Ops	-0.07	0.08	0.14	-0.16	0.21	0.57	0.53	0.33	0.38	0.51	1.45	0.15	0.15	1.45	2.36
Diluted EPS, GAAP	-0.07	0.08	0.14	-0.16	0.21	0.56	0.53	0.33	0.38	0.51	1.45	0.15	0.15	1.45	2.36
Diluted EPS from Cont Ops	-0.07	0.08	0.14	-0.16	0.21	0.56	0.53	0.33	0.38	0.51	1.45	0.15	0.15	1.45	2.36
Dividend per Share	- -	0.05	0.03	0.04	0.04	- -	0.01	0.05	0.05	0.05	- -	- -	- -	- -	- -
Cash Flow per Share	-0.02	0.6	0.17	0.29	- -	0.81	0.58	1.67	0.76	1.44	1.75	-1.21	1.47	0.98	2.7
Free Cash Flow per Basic Share	-0.17	0.58	-0.02	0.2	-0.33	0.05	0.04	-0.45	-0.18	0.94	0.72	-1.74	0.52	-0.2	0.94
Cash & Equivalents per Share	0.44	0.9	0.84	0.94	0.57	0.93	0.89	0.6	0.49	1.93	2.59	1.29	1.74	1.43	2.24
Book Value per Share	1.22	1.24	1.35	1.14	1.31	1.86	2.3	2.56	2.86	3.35	4.79	4.91	5.03	6.45	8.79
Tangible Book Value per Share	2.24	2.25	2.36	2.15	2.33	2.89	3.41	3.71	4.05	4.56	6.1	6.32	6.5	7.89	10.24

Smith-Midland Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)