SHIM

Company Overview — What Does Shimmick Corp Do?

We are a leading provider of water and other critical infrastructure solutions nationwide. Through our predecessor entities, we have a long history of working on complex water projects, ranging from the world’s largest wastewater recycling and purification system in California to the iconic Hoover Dam. According to Engineering News Record, in 2022 we were nationally ranked as a top ten builder of dams and reservoirs (#1), water supply (#3), water treatment and desalination plants (#8) and mass transit (#9). We are led by industry veterans, many with over 20 years of experience, and work closely with our customers to deliver complete solutions, including long-term operations and maintenance. The United Nations has stated that climate change is primarily a water crisis as water becomes more scarce, unpredictable, polluted, or a combination of all three. Climate change, along with other emerging issues like drinking water contamination, requires significant and complex solutions like those we provide. According to a 2023 S&P Global Construction Spending report, the total nominal market opportunity for water infrastructure is forecasted to be in excess of $60 billion per year. In addition to organic growth opportunities, the existing water industry is highly fragmented by geography and capability, and we believe there is significant opportunity to both further expand our core infrastructure services and provide new service through acquisitions. We selectively focus on the following types of infrastructure projects: • Water Treatment: We expand, rehabilitate, upgrade, build and rebuild water and wastewater treatment infrastructure, including desalination plants. We implement complex cleantech treatment technologies including ozonation, biological activated carbon, membrane filtration, reverse osmosis, chemical treatment, and oxidation. We also conduct facility commissioning. Our projects and solutions aim to ensure access to clean and safe drinking water, protect public health, and reduce waterborne diseases. Our work contributes to protecting the environment by removing pollutants and contaminants from wastewater before it is released back into ecosystems. Additionally, water treatment infrastructure supports sustainable water management, which conserves this precious resource for future generations. • Water Resources: We build, expand, and improve water storage and conveyance, dams, levees, flood control systems, pump stations, and coastal protection. We also upgrade and expand dams, levees and locks along our nation’s waterways to enable continued emissions-reducing movement of goods. Select projects of ours enable reliable water supply, generate hydroelectric power, and control flooding, ensuring water availability and energy security. Our work contributes to protecting communities from flood damage to safeguard lives, property, and infrastructure. • Other Critical Infrastructure: We build, retrofit, expand, rehabilitate, operate, and maintain our nation’s critical infrastructure, including mass transit, bridges, and military infrastructure. We work on projects that we believe are vital for economic growth, social connectivity, and accessibility. We believe our projects enable smooth and efficient movement of people and goods, foster trade, address environmental sustainability, and improve quality of life for individuals and communities. We were founded in 1990 in California. In 2017, AECOM acquired Shimmick and consolidated us with its existing construction services, which included former legacy construction operations from Morrison Knudsen, Washington Group International, and others. In January 2021, we began operating as an independent company under new private ownership. While our legacy companies have a long history operating in the United States, we have a limited operating history as an independent company. Following our separation from AECOM, we began a transformation to shift our strategy to meet the nation’s growing need for water and other critical infrastructure. We believe our competitive strengths, which are discussed below, position us to execute this strategy and capitalize on market opportunities. However, our limited operating history as an independent company and historical dependence on AECOM subject us to a number of risks, such as an inability to obtain necessary bonding and the need to incur additional operating expenses to create or supplement the corporate infrastructure necessary to operate as an independent company. We are also involved in ongoing disputes with AECOM, which could adversely impact our business. For the six months ended June 30, 2023 and July 1, 2022, we generated revenue of $319.3 million and $293.6 million, respectively, and net (loss) income attributable to Shimmick Corporation of $(19.6) million and $3.7 million, respectively. Adjusted EBITDA was $(2.9) million and $31.9 million for the six months ended June 30, 2023 and July 1, 2022, respectively. Adjusted net (loss) income was $(12.0) million and $22.7 million for the six months ended June 30, 2023 and July 1, 2022, respectively. For the years ended December 30, 2022 and December 31, 2021, we generated revenue of $664.2 million and $572.7 million, respectively, and net income attributable to Shimmick Corporation of $3.8 million and $45.4 million, respectively. Adjusted EBITDA was $47.0 million and $(193.6) million for the years ended December 30, 2022 and December 31, 2021, respectively. Adjusted net income (loss) was $29.5 million and ($184.3) million for the years ended December 30, 2022 and December 31, 2021, respectively. For reconciliations of Adjusted EBITDA and Adjusted net (loss) income to net (loss) income, in each case the most directly comparable GAAP financial measure. As of June 30, 2023, we had a backlog of projects in excess of $1 billion, with over half of that amount comprised of water projects. We believe we have the ability to self-perform many of these projects, enabling us to compete for complex projects and differentiating us from many of our competitors. Self-performance also enables us to better control the critical aspects of our projects, reducing the risk of cost and schedule overruns. Shimmick Corporation, was incorporated on October 18, 2019 as a Delaware corporation. On September 12, 2023, we effected a name change from “SCCI National Holdings, Inc.” to “Shimmick Corporation”. Our business is conducted through Shimmick Construction Company, Inc. and our other operating subsidiaries. Shimmick was founded in 1990 in California and operated as a regional infrastructure construction contractor throughout California for nearly 30 years. In 2017, AECOM acquired us and consolidated us with its existing construction services, which included former, legacy construction operations from Morrison Knudsen, Washington Group International, and others. In January 2021, we consummated the AECOM Sale Transactions and began operating as an independent company under new private ownership. Our principal executive offices are located at 530 Technology Drive, Suite 300, Irvine, CA. Shimmick Corp (SHIM) is classified as a micro-cap stock in the Industrials sector, specifically within the Construction industry. The company is led by CEO Steven E. Richards. With a market capitalization of $139M, SHIM is one of the notable companies in the Industrials sector.

Shimmick Corp (SHIM) Stock Rating — Reduce (April 2026)

As of April 2026, Shimmick Corp receives a Reduce rating with a composite score of 37.2/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.SHIM ranks #2,073 out of 4,446 stocks in our coverage universe. Within the Industrials sector, Shimmick Corp ranks #327 of 752 stocks, placing it in the upper half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

SHIM Stock Price and 52-Week Range

Shimmick Corp (SHIM) currently trades at $4.02. The stock gained $0.29 (7.8%) in the most recent trading session. The 52-week high for SHIM is $4.47, which means the stock is currently trading -10.1% from its annual peak. The 52-week low is $1.30, putting the stock 209.4% above its annual trough. Recent trading volume was 109K shares, suggesting relatively thin trading activity.

Is SHIM Overvalued or Undervalued? — Valuation Analysis

Shimmick Corp (SHIM) carries a value factor score of 23/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-sales ratio is 0.24x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, SHIM trades at 147.41x EV/EBITDA, versus 5.70x for the sector.

At current multiples, Shimmick Corp trades at a premium to most Industrials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Shimmick Corp Profitability — ROE, Margins, and Quality Score

Shimmick Corp (SHIM) earns a quality factor score of 15/100, signaling below-average profitability metrics relative to the broader market. Return on assets (ROA) comes in at -11.7% versus the sector average of 3.3%.

On a margin basis, Shimmick Corp reports gross margins of 7.0%, compared to 35.8% for the sector. The operating margin is -3.9% (sector: 6.2%). Net profit margin stands at -4.8%, versus 3.9% for the average Industrials stock. Revenue growth is running at 16.2% on a trailing basis, compared to 6.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

SHIM Debt, Balance Sheet, and Financial Health

Shimmick Corp has a debt-to-equity ratio of -109.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 0.89x, which may signal near-term liquidity tightness. Total debt on the balance sheet is $64M. Cash and equivalents stand at $18M.

SHIM has a beta of 1.10, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Shimmick Corp is 33/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Shimmick Corp Revenue and Earnings History — Quarterly Trend

In TTM 2026, Shimmick Corp reported revenue of $541M and earnings per share (EPS) of $-0.74. Net income for the quarter was $-26M. Gross margin was 7.0%. Operating income came in at $-21M.

In FY 2026, Shimmick Corp reported revenue of $493M and earnings per share (EPS) of $-0.74. Net income for the quarter was $-25M. Gross margin was 6.8%. Operating income came in at $-19M.

In Q3 2026, Shimmick Corp reported revenue of $142M and earnings per share (EPS) of $-0.12. Net income for the quarter was $-4M. Gross margin was 7.6%. Revenue grew 0.0% year-over-year compared to Q3 2025. Operating income came in at $-3M.

In Q3 2025, Shimmick Corp reported revenue of $142M and earnings per share (EPS) of $-0.12. Net income for the quarter was $-4M. Gross margin was 7.6%. Operating income came in at $-3M.

Over the past 8 quarters, Shimmick Corp has demonstrated a growth trajectory, with revenue expanding from $122M to $541M. Investors analyzing SHIM stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

SHIM Dividend Yield and Income Analysis

Shimmick Corp (SHIM) does not currently pay a dividend. This is common among smaller companies in the Construction industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

SHIM Momentum and Technical Analysis Profile

Shimmick Corp (SHIM) has a momentum factor score of 71/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 27/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 55/100 reflects moderate short selling activity.

SHIM vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, Shimmick Corp (SHIM) ranks #327 out of 752 stocks based on the Blank Capital composite score. This places SHIM in the upper half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing SHIM against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full SHIM vs S&P 500 (SPY) comparison to assess how Shimmick Corp stacks up against the broader market across all factor dimensions.

SHIM Next Earnings Date

No upcoming earnings date has been announced for Shimmick Corp (SHIM) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy SHIM? — Investment Thesis Summary

The quantitative profile for Shimmick Corp suggests caution. The quality score of 15/100 flags below-average profitability. The value score of 23/100 indicates premium valuation. Price momentum is positive at 71/100, suggesting the trend favors buyers. High volatility (stability score 33/100) increases portfolio risk.

In summary, Shimmick Corp (SHIM) earns a Reduce rating with a composite score of 37.2/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on SHIM stock.

Related Resources for SHIM Investors

Explore more research and tools: SHIM vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare SHIM head-to-head with peers: SHIM vs SOBO, SHIM vs TEN, SHIM vs GLDD.