Smith-Midland Corporation (SMID) Margin Analysis

Smith-Midland Corporation

SMID (NASDAQ)

(%)

Models
Smith-Midland Corporation Margin Analysis

# --- Years and Quarters
assumptions.set({
    "timeseries": "annual",
    "data": {
        "#years": """
            4
        """,
        "#quarters": """
            8
        """,
    },
    "titles": {
        "#years": "Years",
        "#quarters": "Quarters",
    },
    "properties": {
        "width": "responsive",
        "title": "Years and Quarters",
        "id": "component-1",
        "bindTo": None
    },
    "descriptions": {
        "#years": r"""
The number of historical years used to render the annual chart and tables.
        """,
        "#quarters": r"""
The number of historical quarters used to render the quarterly chart and tables.
        """,
    }
})

# Render description block
model.render_description({
    "data": r"""
## Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.
""",
    "properties": {
        "width": "responsive"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Annual Section

The annual section uses annual data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

# --- Income Statement Margins
data.compute({
    "user:%revenueGrowthRate": """
        ( income:revenue / income:revenue:-1 ) - 1
    """,
    "user:%grossMargin": """
        income:grossProfit / income:revenue
    """,
    "user:%operatingMargin": """
        income:operatingIncome / income:revenue
    """,
    "user:%netMargin": """
        income:netIncome / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

# --- Cash Flow Statement Margins
data.compute({
    "user:%cashFromOperatingActivitiesMargin": """
        flow:netCashProvidedByOperatingActivities / income:revenue
    """,
    "user:%freeCashFlowMargin": """
        flow:freeCashFlow / income:revenue
    """,
    "user:%depreciationAndAmortizationMargin": """
        flow:depreciationAndAmortization / income:revenue
    """,
    "user:%capitalExpenditureMargin": """
        flow:capitalExpenditure / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "annual",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Annual Chart",
        "include_ltm": False,
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "quarterly",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Quarterly Chart",
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

Years and Quarters

Years Years The number of historical years used to render the annual chart and tables.	#
Quarters Quarters The number of historical quarters used to render the quarterly chart and tables.	#

Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.

Annual Section

The annual section uses annual data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	LTM Mar 09	2024 Dec 31	2023 Dec 31	2022 Dec 31	2021 Dec 31
Revenue	88.87	78.51	59.58	50.13	50.64
Revenue Growth Rate	13.19%	31.77%	18.85%	-1.01%	15.46%
Cost of Revenue	63.96	58.5	48.93	40.66	36.22
Gross Profit	24.91	20.01	10.65	9.47	14.42
Gross Margin	28.03%	25.49%	17.88%	18.89%	28.47%
Operating Income	15.63	9.9	1.12	0.854	6.17
Operating Margin	17.58%	12.61%	1.88%	1.7%	12.18%
Net Income	11.77	7.67	0.795	0.8	7.57
Net Margin	13.25%	9.78%	1.33%	1.6%	14.95%

Cash Flow Statement Margins

Monetary values in USD amounts except #	LTM Mar 09	2024 Dec 31	2023 Dec 31	2022 Dec 31	2021 Dec 31
Revenue	88.87	78.51	59.58	50.13	50.64
Cash from Operating Activities	11.07	5.16	7.73	-6.33	9.13
Cash from Operating Activities Margin	12.46%	6.57%	12.98%	-12.63%	18.02%
Free Cash Flow	5.03	-1.04	2.72	-9.08	3.76
Free Cash Flow Margin	5.66%	-1.33%	4.57%	-18.12%	7.42%
Depreciation and Amortization	2.58	2.66	2.4	2.88	2.67
Depreciation and Amortization Margin	2.91%	3.39%	4.03%	5.75%	5.27%
Capital Expenditure	-6.04	-6.2	-5.01	-2.75	-5.37
Capital Expenditure Margin	-6.8%	-7.9%	-8.41%	-5.48%	-10.6%

Annual Chart

Monetary values in USD

{"sectionId": "section-chart-1", "sectionType": "chart", "title": "Annual Chart", "timeseries": "annual", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2021", "x": "2021-12-31", "y": 28.47}, {"l": "2022", "x": "2022-12-31", "y": 18.89}, {"l": "2023", "x": "2023-12-31", "y": 17.88}, {"l": "2024", "x": "2024-12-31", "y": 25.49}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2021", "x": "2021-12-31", "y": 12.18}, {"l": "2022", "x": "2022-12-31", "y": 1.7}, {"l": "2023", "x": "2023-12-31", "y": 1.88}, {"l": "2024", "x": "2024-12-31", "y": 12.61}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2021", "x": "2021-12-31", "y": 14.95}, {"l": "2022", "x": "2022-12-31", "y": 1.6}, {"l": "2023", "x": "2023-12-31", "y": 1.33}, {"l": "2024", "x": "2024-12-31", "y": 9.78}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2021", "x": "2021-12-31", "y": 7.42}, {"l": "2022", "x": "2022-12-31", "y": -18.12}, {"l": "2023", "x": "2023-12-31", "y": 4.57}, {"l": "2024", "x": "2024-12-31", "y": -1.33}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}

Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30	2024 (Q2) Jun 30
Revenue	21.45	26.19	22.7	18.53	23.58	19.64
Revenue Growth Rate	-18.08%	15.37%	22.49%	-21.42%	20.08%
Cost of Revenue	15.69	18.4	15.72	14.14	17	14.51
Gross Profit	5.76	7.79	6.97	4.39	6.58	5.13
Gross Margin	26.85%	29.73%	30.73%	23.67%	27.89%	26.14%
Operating Income	3.85	5.52	4.39	1.87	3.85	2.67
Operating Margin	17.97%	21.07%	19.33%	10.08%	16.32%	13.61%
Net Income	2.88	4.17	3.33	1.4	3.15	1.98
Net Margin	13.41%	15.93%	14.66%	7.54%	13.36%	10.09%

Cash Flow Statement Margins

Monetary values in USD amounts except #	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30	2024 (Q2) Jun 30
Revenue	21.45	26.19	22.7	18.53	23.58	19.64
Cash from Operating Activities	9.31	0.183	2.22	-0.645	3.87	2.71
Cash from Operating Activities Margin	43.42%	0.699%	9.77%	-3.48%	16.42%	13.78%
Free Cash Flow	6.45	-1.74	1.62	-1.3	1.83	0.998
Free Cash Flow Margin	30.05%	-6.63%	7.15%	-7.04%	7.78%	5.08%
Depreciation and Amortization	0.613	0.631	0.671	0.668	0.702	0.653
Depreciation and Amortization Margin	2.86%	2.41%	2.96%	3.6%	2.98%	3.33%
Capital Expenditure	-2.87	-1.92	-0.595	-0.66	-2.04	-1.71
Capital Expenditure Margin	-13.37%	-7.33%	-2.62%	-3.56%	-8.65%	-8.7%

Quarterly Chart

Monetary values in USD

{"sectionId": "section-chart-2", "sectionType": "chart", "title": "Quarterly Chart", "timeseries": "quarterly", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2024 (Q2)", "x": "2024-06-30", "y": 26.14}, {"l": "2024 (Q3)", "x": "2024-09-30", "y": 27.89}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 23.67}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 30.73}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 29.73}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 26.85}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2024 (Q2)", "x": "2024-06-30", "y": 13.61}, {"l": "2024 (Q3)", "x": "2024-09-30", "y": 16.32}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 10.08}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 19.33}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 21.07}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 17.97}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2024 (Q2)", "x": "2024-06-30", "y": 10.09}, {"l": "2024 (Q3)", "x": "2024-09-30", "y": 13.36}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 7.54}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 14.66}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 15.93}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 13.41}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2024 (Q2)", "x": "2024-06-30", "y": 5.08}, {"l": "2024 (Q3)", "x": "2024-09-30", "y": 7.78}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": -7.04}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 7.15}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": -6.63}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 30.05}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}