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Side-by-side financial comparison of SMITH MIDLAND CORP (SMID) and Strawberry Fields REIT, Inc. (STRW). Click either name above to swap in a different company.

Strawberry Fields REIT, Inc. is the larger business by last-quarter revenue ($40.1M vs $23.1M, roughly 1.7× SMITH MIDLAND CORP). SMITH MIDLAND CORP runs the higher net margin — 9.2% vs 5.0%, a 4.2% gap on every dollar of revenue. On growth, Strawberry Fields REIT, Inc. posted the faster year-over-year revenue change (31.5% vs 24.7%). Over the past eight quarters, Strawberry Fields REIT, Inc.'s revenue compounded faster (20.0% CAGR vs 17.4%).

Smith Midland Corp is a specialized manufacturer of precast concrete products for infrastructure, commercial, residential and industrial construction uses. Its key product lines include highway safety barriers, acoustic sound walls, architectural precast panels, and stormwater management systems, serving primarily the North American market with durable, sustainable construction solutions.

Strawberry Fields REIT, Inc. is a real estate investment trust focused on healthcare-related real estate assets. It owns, operates and manages skilled nursing facilities, senior living communities, and medical office buildings, primarily serving markets across the United States for healthcare providers and elderly care operators.

SMID vs STRW — Head-to-Head

Bigger by revenue
STRW
STRW
1.7× larger
STRW
$40.1M
$23.1M
SMID
Growing faster (revenue YoY)
STRW
STRW
+6.8% gap
STRW
31.5%
24.7%
SMID
Higher net margin
SMID
SMID
4.2% more per $
SMID
9.2%
5.0%
STRW
Faster 2-yr revenue CAGR
STRW
STRW
Annualised
STRW
20.0%
17.4%
SMID

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
SMID
SMID
STRW
STRW
Revenue
$23.1M
$40.1M
Net Profit
$2.1M
$2.0M
Gross Margin
57.5%
Operating Margin
37.8%
52.4%
Net Margin
9.2%
5.0%
Revenue YoY
24.7%
31.5%
Net Profit YoY
52.5%
37.6%
EPS (diluted)
$0.41
$0.15

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
SMID
SMID
STRW
STRW
Q4 25
$23.1M
$40.1M
Q3 25
$21.5M
$39.7M
Q2 25
$26.2M
$37.9M
Q1 25
$22.7M
$37.3M
Q4 24
$18.5M
$30.5M
Q3 24
$23.6M
$29.5M
Q2 24
$19.6M
$29.3M
Q1 24
$16.8M
$27.8M
Net Profit
SMID
SMID
STRW
STRW
Q4 25
$2.1M
$2.0M
Q3 25
$2.9M
$2.0M
Q2 25
$4.2M
$2.0M
Q1 25
$3.3M
$1.6M
Q4 24
$1.4M
$1.5M
Q3 24
$3.1M
$944.0K
Q2 24
$2.0M
$938.0K
Q1 24
$1.1M
$746.0K
Gross Margin
SMID
SMID
STRW
STRW
Q4 25
57.5%
Q3 25
26.8%
Q2 25
0.0%
Q1 25
30.7%
Q4 24
51.4%
Q3 24
27.9%
Q2 24
0.0%
Q1 24
23.3%
Operating Margin
SMID
SMID
STRW
STRW
Q4 25
37.8%
52.4%
Q3 25
18.0%
56.6%
Q2 25
0.0%
54.5%
Q1 25
19.3%
54.1%
Q4 24
24.5%
51.5%
Q3 24
16.3%
54.4%
Q2 24
0.0%
52.3%
Q1 24
9.0%
51.3%
Net Margin
SMID
SMID
STRW
STRW
Q4 25
9.2%
5.0%
Q3 25
13.4%
5.1%
Q2 25
15.9%
5.2%
Q1 25
14.7%
4.2%
Q4 24
7.5%
4.8%
Q3 24
13.4%
3.2%
Q2 24
10.1%
3.2%
Q1 24
6.8%
2.7%
EPS (diluted)
SMID
SMID
STRW
STRW
Q4 25
$0.41
$0.15
Q3 25
$0.54
$0.16
Q2 25
$0.79
$0.16
Q1 25
$0.62
$0.13
Q4 24
$0.28
$0.17
Q3 24
$0.59
$0.14
Q2 24
$0.37
$0.14
Q1 24
$0.21
$0.12

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
SMID
SMID
STRW
STRW
Cash + ST InvestmentsLiquidity on hand
$31.8M
Total DebtLower is stronger
$794.7M
Stockholders' EquityBook value
$54.3M
$12.1M
Total Assets
$87.7M
$885.2M
Debt / EquityLower = less leverage
65.64×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SMID
SMID
STRW
STRW
Q4 25
$31.8M
Q3 25
$19.8M
Q2 25
$96.3M
Q1 25
$42.3M
Q4 24
$48.4M
Q3 24
$29.3M
Q2 24
$16.1M
Q1 24
$15.1M
Total Debt
SMID
SMID
STRW
STRW
Q4 25
$794.7M
Q3 25
$779.4M
Q2 25
$794.1M
Q1 25
$715.5M
Q4 24
$673.9M
Q3 24
$584.5M
Q2 24
$555.0M
Q1 24
$560.4M
Stockholders' Equity
SMID
SMID
STRW
STRW
Q4 25
$54.3M
$12.1M
Q3 25
$52.1M
$14.2M
Q2 25
$49.2M
$15.5M
Q1 25
$45.1M
$19.6M
Q4 24
$41.7M
$18.2M
Q3 24
$40.3M
$12.6M
Q2 24
$37.2M
$7.4M
Q1 24
$35.3M
$7.5M
Total Assets
SMID
SMID
STRW
STRW
Q4 25
$87.7M
$885.2M
Q3 25
$85.4M
$880.6M
Q2 25
$81.2K
$897.3M
Q1 25
$74.7M
$834.8M
Q4 24
$68.0M
$787.6M
Q3 24
$66.6M
$661.5M
Q2 24
$64.0M
$635.9M
Q1 24
$64.9M
$634.9M
Debt / Equity
SMID
SMID
STRW
STRW
Q4 25
65.64×
Q3 25
54.70×
Q2 25
51.26×
Q1 25
36.47×
Q4 24
37.09×
Q3 24
46.34×
Q2 24
74.61×
Q1 24
74.81×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
SMID
SMID
STRW
STRW
Operating Cash FlowLast quarter
$90.0M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
44.62×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
SMID
SMID
STRW
STRW
Q4 25
$90.0M
Q3 25
$11.7M
$20.7M
Q2 25
$29.8M
Q1 25
$2.2M
$19.0M
Q4 24
$-645.0K
$59.3M
Q3 24
$3.9M
$11.8M
Q2 24
$2.7M
$20.6M
Q1 24
$-777.0K
$2.1M
Free Cash Flow
SMID
SMID
STRW
STRW
Q4 25
Q3 25
$6.3M
Q2 25
Q1 25
$1.6M
Q4 24
$-1.3M
Q3 24
$1.8M
Q2 24
$998.0K
Q1 24
$-2.6M
FCF Margin
SMID
SMID
STRW
STRW
Q4 25
Q3 25
29.5%
Q2 25
Q1 25
7.1%
Q4 24
-7.0%
Q3 24
7.8%
Q2 24
5.1%
Q1 24
-15.3%
Capex Intensity
SMID
SMID
STRW
STRW
Q4 25
Q3 25
25.1%
Q2 25
Q1 25
2.6%
Q4 24
3.6%
Q3 24
8.6%
Q2 24
8.7%
Q1 24
10.7%
Cash Conversion
SMID
SMID
STRW
STRW
Q4 25
44.62×
Q3 25
4.07×
10.26×
Q2 25
15.24×
Q1 25
0.67×
11.97×
Q4 24
-0.46×
40.44×
Q3 24
1.23×
12.53×
Q2 24
1.37×
21.93×
Q1 24
-0.68×
2.85×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

SMID
SMID

Product Sales$13.8M60%
Service Revenue$9.3M40%

STRW
STRW

Segment breakdown not available.

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