- Smithco Construction - NM
- 2026
- 1
- 1
- 100.00%
- $3,875,550
- 11.53%
- 0.00%
- 21.81%
- $3,875,550

Smithco holds **$4.2M** in total remaining backlog, with **$1.1M** tied to the March 2026 Water System project now entering active execution. Cash inflows will remain modest given the 120-month duration and single recent win, limiting near-term revenue recognition.
Medium-term Outlook (6-12 months)
The Sanitary Sewer project continues to contribute **$3.1M** in slow-burn backlog, while the 2025 zero-win year signals constrained pipeline replenishment. Overall throughput stays low without additional awards, extending the current **$3.9M** contract over a decade-long horizon.
Key Risk Period
Extended contract durations and minimal bidding activity create a prolonged risk window beyond 12 months, with potential cash flow gaps if the 100% 2026 success rate is not sustained. The outlier 32,767-month project duration further distorts forecasting reliability.
Recommendations
Prioritize aggressive bidding to rebuild annual volume above one job and accelerate recognition on the **$1.1M** active remainder. Implement monthly cash flow modeling to mitigate duration-driven liquidity constraints.

