Shimmick Corporation (SHIM)
NASDAQ:SHIM
Top Page
Shimmick Corporation
(NASDAQ:SHIM)
Select Model
Select Model
Rating:48Neutral
Price Target:
$4.00
▲(2.30% Upside)
Action:ReiteratedDate:03/17/26
The score is held down primarily by weak financial performance (ongoing losses, significant cash burn, and negative equity). Technicals also indicate soft momentum with the stock below key short- and mid-term moving averages. Offsetting these risks, the latest earnings call provided notably improved guidance and backlog-driven support for a potential operational turnaround, lifting the overall score despite current financial strain.
Positive Factors
Backlog and New-Award Momentum
A $793M backlog with book-to-burn >1 provides multi-quarter revenue visibility and reduces reliance on winning new work every period. The reported additions and preferred-bidder pipeline increase the probability of stable revenue conversion, supporting management's multi-step recovery plan and helping to de-risk near-term bidding volatility.
Negative Factors
Negative Shareholder Equity
Persistent negative equity reflects accumulated losses and constrains financial flexibility, increasing refinancing and covenant risk. Even with modest nominal debt, a weakened capital structure raises borrowing costs, limits counterparty confidence on bonds/credit and reduces capacity to absorb project overruns or pursue opportunistic growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Backlog and New-Award Momentum
A $793M backlog with book-to-burn >1 provides multi-quarter revenue visibility and reduces reliance on winning new work every period. The reported additions and preferred-bidder pipeline increase the probability of stable revenue conversion, supporting management's multi-step recovery plan and helping to de-risk near-term bidding volatility.
Read all positive factors
Shimmick Corporation (SHIM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$142.20M
Dividend YieldN/A
Average Volume (3M)21.41K
Price to Earnings (P/E)―
Beta (1Y)1.67
Revenue Growth-3.64%
EPS Growth53.82%
CountryUS
Employees1,200
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.07
Shares Outstanding36,091,730
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 Cap0.96
Enterprise Value/Revenue0.28
Enterprise Value/Gross Profit4.08
Enterprise Value/Ebitda-22.14
Forecast
1Y Price Target
$5.00Price Target Upside27.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.08
Revenue Forecast (FY)$568.95M
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 performing construction and engineering work under awarded contracts, recognizing revenue as it satisfies performance obligations on projects (e.g., over time as work progresses) and collecting payments from proje...
Shimmick Corporation Earnings Call Summary
Earnings Call Date:Mar 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The call emphasized a clear operational and financial turnaround: revenue modestly grew, project revenue rose 12%, project gross margins expanded to 10% (up ~400 bps), adjusted EBITDA turned positive ($5M vs. -$61M prior year), backlog strengthened to $793M with strong new‑award cadence and a robust pipeline. Management also highlighted tangible operational improvements (project controls, procurement, analytics) and specific near‑term opportunities (progressive design‑build and CM/GC projects). Remaining challenges include an ongoing adjusted net loss (-$15M), remaining noncore closeout risk, weather‑driven slower field activity and a portion of awards still pending execution ($234M), but overall the positives substantially outweigh the negatives.Positive Updates
Full‑Year Revenue and Project Revenue Growth
Consolidated revenue for FY2025 was $493 million (up $13 million or ~3% year‑over‑year). Shimmick projects revenue was $395 million, a 12% increase YoY, and now represented approximately 75% of total revenue, reflecting strategic shift to higher‑value work.
Negative Updates
Ongoing Net Loss and Modest Profitability
Despite improvements, the company remains unprofitable on an adjusted net loss basis (negative $15 million for FY2025) and a GAAP net loss in Q4 2025 of $3 million, indicating continued earnings recovery is still in progress.
Read all updates
Q4-2025 Updates
Positive
Negative
Full‑Year Revenue and Project Revenue Growth
Consolidated revenue for FY2025 was $493 million (up $13 million or ~3% year‑over‑year). Shimmick projects revenue was $395 million, a 12% increase YoY, and now represented approximately 75% of total revenue, reflecting strategic shift to higher‑value work.
Read all positive updates
Company Guidance
Management guided 2026 consolidated revenue growth of 12%–22% (17% midpoint), or roughly $550–$600 million of work put in place, and adjusted EBITDA up 200%–500% (350% midpoint) to $15–$30 million, noting a slower start due to weather but expecting quarter‑over‑quarter improvement; guidance is supported by year‑end backlog of $793 million (Shimmick projects ~90% of backlog), Q4 new awards of about $135–139 million with a Q4 book‑to‑burn of 1.4x and a book‑to‑burn expected to remain well above 1 into Q1 2026, $128 million of new awards added to backlog through February 2026 plus $234 million of preferred‑bidder awards pending, a 24‑month pipeline that supports $600 million–$1 billion of bidding volume per month, liquidity of $44 million (cash $20M, credit availability $24M), noncore work at roughly 11% of backlog expected to be largely burned off by year‑end, and an intention to hold SG&A near recent Q4 levels (~$11M) while scaling revenue (management said they can sustain that SG&A run‑rate up to about $750M of revenue before adding incremental overhead).Shimmick Corporation Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
18
Very Negative
Cash Flow
16
Very Negative
| Breakdown | Jan 2026 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 492.84M | 480.24M | 632.81M | 664.16M | 572.67M |
| Gross Profit | 33.59M | -55.65M | 22.37M | 23.52M | -132.80M |
| EBITDA | -6.20M | -105.15M | 17.12M | -23.58M | -198.03M |
| Net Income | -25.58M | -124.75M | -2.55M | 3.76M | 45.40M |
Balance Sheet | |||||
| Total Assets | 218.76M | 233.86M | 426.65M | 426.65M | 492.00M |
| Cash, Cash Equivalents and Short-Term Investments | 19.97M | 33.73M | 62.94M | 63.91M | 73.18M |
| Total Debt | 16.06M | 25.46M | 44.67M | 53.24M | 11.90M |
| Total Liabilities | 275.40M | 268.54M | 356.16M | 356.16M | 444.98M |
| Stockholders Equity | -56.64M | -34.52M | 71.24M | 71.24M | 46.59M |
Cash Flow | |||||
| Free Cash Flow | -71.48M | -31.74M | -95.14M | -13.53M | -56.91M |
| Operating Cash Flow | -65.11M | -21.26M | -88.10M | -3.08M | -53.98M |
| Investing Cash Flow | 1.12M | 15.04M | 22.05M | 4.20M | 136.17M |
| Financing Cash Flow | 50.05M | -21.90M | 47.88M | -931.00K | -294.00K |
Shimmick Corporation Technical Analysis
Positive
3.91
Price Trends
3.61
Positive
3.28
Positive
2.85
Positive
Market Momentum
0.10
Negative
59.88
Neutral
70.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SHIM, the sentiment is Positive. The current price of 3.91 is above the 20-day moving average (MA) of 3.42, above the 50-day MA of 3.61, and above the 200-day MA of 2.85, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 59.88 is Neutral, neither overbought nor oversold. The STOCH value of 70.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | $1.16B | 29.35 | 19.12% | ― | 12.90% | 72.61% | |
64 Neutral | $384.89M | -30.18 | 3.32% | ― | -8.98% | -38.23% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $261.45M | 12.61 | 3.91% | 1.11% | 16.80% | -98.32% | |
55 Neutral | $461.36M | 158.32 | 1.60% | ― | 7.02% | ― | |
48 Neutral | $142.20M | -4.13 | ― | ― | -3.64% | 53.82% | |
42 Neutral | $55.74M | -521.01 | -68.71% | ― | -9.10% | 21.10% |
* Industrials Sector Average
SHIM
Shimmick Corporation
3.91
2.48
173.43%
ESOA
Energy Services of America
14.44
5.80
67.03%
ORN
Orion Group Holdings
11.86
6.12
106.62%
WLDN
Willdan Group
77.69
38.49
98.19%
BBCP
Concrete Pumping Holdings
7.72
1.73
28.88%
SLND
Southland Holdings
1.11
-2.06
-64.98%
Shimmick Corporation Corporate Events
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.