Shimmick Corporation (SHIM)
NASDAQ:SHIM
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Shimmick Corporation
(NASDAQ:SHIM)
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Rating:53Neutral
Price Target:
$4.00
▼(-24.24% Downside)
Action:Reiterated
Date:05/15/26
The score is held back primarily by weak financial fundamentals (negative equity and ongoing cash burn). Offsetting this are a relatively constructive technical setup and an earnings call that highlighted improving margins, a stronger backlog, and reaffirmed growth/EBITDA guidance—tempered by project dispute risk and still-negative earnings.
Positive Factors
Backlog expansion & record book-to-burn
A $944M backlog and a 2.6 book-to-burn provide multi-quarter revenue visibility for a company with average job lengths ~2.5 years. This durable backlog supports execution planning, smoother revenue recognition as projects ramp, and reduces short-term revenue volatility relative to small-order cycles.
Negative Factors
Negative shareholder equity
Negative shareholder equity materially weakens financial resilience and restricts access to capital markets or favorable credit. For a contractor with lumpy cash flows, limited equity heightens default and covenant risk, reducing headroom to absorb project overruns or delays over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Backlog expansion & record book-to-burn
A $944M backlog and a 2.6 book-to-burn provide multi-quarter revenue visibility for a company with average job lengths ~2.5 years. This durable backlog supports execution planning, smoother revenue recognition as projects ramp, and reduces short-term revenue volatility relative to small-order cycles.
Read all positive factors
Shimmick Corporation (SHIM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$135.78M
Dividend YieldN/A
Average Volume (3M)21.41K
Price to Earnings (P/E)―
Beta (1Y)1.76
Revenue Growth-4.88%
EPS Growth82.47%
CountryUS
Employees1,200
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.59
Shares Outstanding36,696,660
10 Day Avg. Volume39,794
30 Day Avg. Volume21,407
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)-1.87
Price to Sales (P/S)0.21
P/FCF Ratio-1.48
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue0.29
Enterprise Value/Gross Profit3.40
Enterprise Value/Ebitda-141.37
Forecast
1Y Price Target
$6.50Price Target Upside23.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.06
Revenue Forecast (FY)$550.75M
Shimmick Corporation Business Overview & Revenue Model
Company Description
Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, dam, levee, flood control system, pump statio...
How the Company Makes Money
Shimmick makes money primarily by delivering construction services under customer contracts for infrastructure projects. Revenue is generally earned as work progresses on these projects (often via progress billings tied to milestones, measured wor...
Shimmick Corporation Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
The call emphasized material operational and financial improvement: stronger backlog, significantly better gross margins, a positive adjusted EBITDA, improved net loss, and a healthy awards pipeline with reaffirmed guidance. The main negatives were a year-over-year decline in consolidated revenue due to wind-down of noncore work and the termination/dispute on the Chickamauga project, which reduced noncore revenue and creates near-term uncertainty. Management stressed confidence in execution, selective bidding, and seasonal ramping of new work, positioning the business for improving results through 2026.Positive Updates
Backlog Expansion and Record Book-to-Burn
Total backlog increased to $944 million at quarter end — the highest level in more than two years — and the company reported a book-to-burn ratio of 2.6 for Q1, the highest since going public, driven by $289 million of new awards booked in the quarter (a sequential increase of $150 million vs. Q4 2025).
Negative Updates
Year-over-Year Consolidated Revenue Decline
Consolidated revenue declined to $88 million in Q1 2026 from $122 million in Q1 2025, driven largely by the wind-down of legacy/noncore projects and seasonal lower burn on newer projects (Q1 described as a slower start to 2026).
Read all updates
Q1-2026 Updates
Positive
Negative
Backlog Expansion and Record Book-to-Burn
Total backlog increased to $944 million at quarter end — the highest level in more than two years — and the company reported a book-to-burn ratio of 2.6 for Q1, the highest since going public, driven by $289 million of new awards booked in the quarter (a sequential increase of $150 million vs. Q4 2025).
Read all positive updates
Company Guidance
Shimmick reaffirmed full‑year 2026 guidance, calling for consolidated revenue growth of 12%–22% year‑over‑year (17% midpoint), roughly $550M–$600M of revenue, and adjusted EBITDA growth of 200%–500% (350% midpoint), targeting $15M–$30M of adjusted EBITDA for the year; Q1 results included $88M of consolidated revenue, ~12% total gross margin (11% on Shimmick projects), adjusted EBITDA of about $3M (vs. -$3M in Q1‑2025) and a net loss of $4M (vs. -$10M). Management highlighted $289M of new awards in Q1, a book‑to‑burn of 2.6 (the highest since IPO), total backlog of $944M (largest in >2 years) with noncore backlog now under 5% and noncore Q1 revenue of $0.2M (vs. $29M a year ago), liquidity of $34M (cash $15M + $19M available credit), a 24‑month pipeline of $600M–$1B in bidding volumes per month, an average job length of ~2.5 years, and an expected sequential revenue inflection in July–September as new projects ramp.Shimmick Corporation Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Jan 2026 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 458.77M | 492.84M | 480.24M | 632.81M | 664.16M | 572.67M |
| Gross Profit | 39.79M | 33.59M | -55.65M | 22.37M | 23.52M | -132.80M |
| EBITDA | -956.00K | -5.77M | -105.15M | 17.12M | -23.58M | -198.03M |
| Net Income | -20.37M | -25.58M | -124.75M | -2.55M | 3.76M | 45.40M |
Balance Sheet | ||||||
| Total Assets | 202.27M | 218.76M | 233.86M | 426.65M | 426.65M | 492.00M |
| Cash, Cash Equivalents and Short-Term Investments | 14.96M | 19.97M | 33.73M | 62.94M | 63.91M | 73.18M |
| Total Debt | 14.34M | 76.37M | 25.46M | 44.67M | 53.24M | 11.90M |
| Total Liabilities | 262.75M | 275.40M | 268.54M | 356.16M | 356.16M | 444.98M |
| Stockholders Equity | -60.48M | -56.64M | -34.52M | 71.24M | 71.24M | 46.59M |
Cash Flow | ||||||
| Free Cash Flow | -40.89M | -71.48M | -31.74M | -95.14M | -13.53M | -56.91M |
| Operating Cash Flow | -34.46M | -65.11M | -21.26M | -88.10M | -3.08M | -53.98M |
| Investing Cash Flow | 963.00K | 1.12M | 15.04M | 22.05M | 4.20M | 136.17M |
| Financing Cash Flow | 31.03M | 50.05M | -21.90M | 47.88M | -931.00K | -294.00K |
Shimmick Corporation Technical Analysis
Negative
5.28
Price Trends
4.42
Negative
4.03
Negative
3.32
Positive
Market Momentum
-0.18
Positive
35.39
Neutral
5.89
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SHIM, the sentiment is Negative. The current price of 5.28 is above the 20-day moving average (MA) of 5.03, above the 50-day MA of 4.42, and above the 200-day MA of 3.32, indicating a neutral trend. The MACD of -0.18 indicates Positive momentum. The RSI at 35.39 is Neutral, neither overbought nor oversold. The STOCH value of 5.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SHIM.
Shimmick Corporation Risk Analysis
Shimmick Corporation disclosed 70 risk factors in its most recent earnings report. Shimmick Corporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Shimmick Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $1.41B | 34.71 | 19.38% | ― | 14.87% | 121.85% | |
67 Neutral | $568.73M | 23.32 | 5.40% | ― | 6.74% | 250.16% | |
65 Neutral | $325.98M | 266.90 | 14.45% | 1.11% | 19.86% | -49.73% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $384.38M | -30.18 | 2.33% | ― | -4.25% | -67.60% | |
53 Neutral | $135.78M | -7.46 | 37.16% | ― | -4.88% | 82.47% | |
48 Neutral | $62.89M | -5.51 | 1577.14% | ― | -24.31% | -169.16% |
* Industrials Sector Average
SHIM
Shimmick Corporation
3.70
1.94
110.23%
ESOA
Energy Services of America
17.47
6.91
65.40%
ORN
Orion Group Holdings
14.05
5.95
73.46%
WLDN
Willdan Group
93.55
42.10
81.83%
BBCP
Concrete Pumping Holdings
7.61
0.31
4.25%
SLND
Southland Holdings
1.16
-2.64
-69.47%
Shimmick Corporation Corporate Events
Business Operations and StrategyExecutive/Board Changes
Shimmick Appoints Sarah Tacker as Executive Vice President
Positive
Apr 28, 2026
On April 28, 2026, Shimmick Corporation announced the appointment of Sarah Tacker as Executive Vice President and Chief Operating Officer, effective the same day. She will oversee the company’s operational functions and report directly to Ch...
Business Operations and StrategyExecutive/Board Changes
Shimmick Announces Director Retirement and Board Size Reduction
Neutral
Mar 31, 2026
On March 20, 2026, Shimmick Corporation announced that longtime director Steven Richards will retire from its board at the end of his term at the 2026 annual meeting of stockholders, marking the close of a 45-year tenure with the company. Richards...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.