Is Smith-Midland Corp. overvalued or undervalued?

As of 14 November 2025, the valuation grade for Smith-Midland Corp. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued at this time, with a P/E ratio of 21, a Price to Book Value of 3.89, and an EV to EBITDA ratio of 12.73. In comparison, Northwest Pipe Co. has a P/E of 15.18, while Smart Sand, Inc. shows a significantly higher P/E of 87.38, suggesting that Smith-Midland is positioned reasonably within its peer group.
While specific return data is not available, the recent performance of Smith-Midland compared to the S&P 500 can provide context to its valuation. Overall, the metrics suggest that Smith-Midland Corp. is fairly valued relative to its peers and the broader market.