NASDAQ : FRD
Friedman Industries, Incorporated — Financial statements
Materials · Steel · United States
Last price 42.16 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 304.09M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Friedman Industries, Incorporated (FRD) reported revenue of 752.11M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 752.11M | 646.91M | 444.60M | 516.25M | 547.54M | 285.24M |
| Cost of Revenue | 643.03M | 560.42M | 399.12M | 443.83M | 477.56M | 244.25M |
| Gross Profit | 109.08M | 86.50M | 45.48M | 72.42M | 69.98M | 40.99M |
| Selling, General & Admin | 64.09M | 55.72M | 39.40M | 44.83M | 45.18M | 12.47M |
| Operating Expenses | 68.13M | 59.54M | 42.69M | 47.90M | 47.70M | 12.47M |
| Operating Income | 40.94M | 26.95M | 2.79M | 24.52M | 22.27M | 28.52M |
| Interest Expense | -4.65M | -4.10M | -2.95M | -3.07M | -2.22M | -255.00K |
| Other Non Operating Income (Expenses) | 292.00K | 3.40M | 7.60M | 1.87M | 9.33M | -11.64M |
| EBT Excluding Unusual Items | 36.58M | 26.25M | 7.43M | 23.31M | 29.39M | 16.62M |
| Merger & Restructuring Charges | -1.30M | -1.30M | -1.20M | |||
| Gain (Loss) on Sale of Assets | 258.00K | |||||
| Other Unusual Items | 1.42M | 1.42M | 1.71M | |||
| Pretax Income | 36.70M | 26.37M | 7.69M | 23.31M | 28.19M | 18.33M |
| Income Tax Expense | 9.41M | 6.84M | 1.61M | 5.97M | 6.84M | 4.26M |
| Net Income | 27.29M | 19.53M | 6.08M | 17.34M | 21.34M | 14.07M |
| Preferred Dividends & Other Adjustments | 536.00K | 317.00K | 21.00K | 177.00K | 329.00K | 543.00K |
| Net Income to Common | 26.75M | 19.22M | 6.06M | 17.17M | 21.02M | 13.52M |
| Shares Outstanding (Basic) | 6.97M | 6.97M | 6.94M | 7.18M | 7.22M | 6.62M |
| Shares Outstanding (Diluted) | 6.97M | 6.97M | 6.94M | 7.18M | 7.22M | 6.62M |
| EPS (Basic) | 3.84 | 2.76 | 0.87 | 2.39 | 2.91 | 2.04 |
| EPS (Diluted) | 3.84 | 2.76 | 0.87 | 2.39 | 2.91 | 2.04 |
| Free Cash Flow | -7.19M | 1.38M | -9.42M | -813.00K | 47.44M | -21.46M |
| Free Cash Flow Per Share | -1.03 | 0.20 | -1.36 | -0.11 | 6.57 | -3.24 |
| Dividend Per Share | 0.16 | 0.16 | 0.16 | 0.10 | 0.08 | 0.08 |
| Gross Margin | 14.50% | 13.37% | 10.23% | 14.03% | 12.78% | 14.37% |
| Operating Margin | 5.44% | 4.17% | 0.63% | 4.75% | 4.07% | 10.00% |
| Profit Margin | 3.56% | 2.97% | 1.36% | 3.33% | 3.84% | 4.74% |
| Free Cash Flow Margin | -0.96% | 0.21% | -2.12% | -0.16% | 8.66% | -7.52% |
| EBITDA | 44.99M | 30.77M | 6.08M | 27.59M | 24.80M | 29.84M |
| EBITDA Margin | 5.98% | 4.76% | 1.37% | 5.34% | 4.53% | 10.46% |
| D&A For EBITDA | 4.05M | 3.82M | 3.29M | 3.07M | 2.53M | 1.32M |
| EBIT | 40.94M | 26.95M | 2.79M | 24.52M | 22.27M | 28.52M |
| EBIT Margin | 5.44% | 4.17% | 0.63% | 4.75% | 4.07% | 10.00% |
| Effective Tax Rate | 25.65% | 25.93% | 20.90% | 25.60% | 24.28% | 23.27% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 5.03M | 2.45M | 3.69M | 2.89M | 2.99M | 2.60M |
| Cash & Short-Term Investments | 5.03M | 2.45M | 3.69M | 2.89M | 2.99M | 2.60M |
| Accounts Receivable | 90.69M | 80.17M | 47.48M | 47.33M | 49.37M | 35.67M |
| Other Receivables | 521.00K | |||||
| Receivables | 90.69M | 80.69M | 47.48M | 47.33M | 49.37M | 35.67M |
| Inventory | 191.08M | 172.22M | 113.69M | 115.80M | 86.25M | 67.95M |
| Restricted Cash | 3.00M | 800.00K | 500.00K | 3.00M | 2.40M | 13.50M |
| Other Current Assets | 1.31M | 871.00K | 1.12M | 1.04M | 2.65M | 5.65M |
| Total Current Assets | 291.11M | 257.04M | 166.47M | 170.06M | 143.66M | 125.36M |
| Property, Plant & Equipment | 80.93M | 78.32M | 59.09M | 59.60M | 55.20M | 30.22M |
| Long-Term Deferred Tax Assets | 2.13M | |||||
| Other Long-Term Assets | 1.40M | 1.45M | 1.26M | 356.00K | 453.00K | 1.56M |
| Total Assets | 373.44M | 336.81M | 226.82M | 230.02M | 199.31M | 159.28M |
| Accounts Payable | 87.00M | 66.41M | 35.14M | 43.78M | 36.75M | 44.75M |
| Accrued Expenses | 6.38M | 8.27M | 1.81M | 5.99M | 5.00M | 1.34M |
| Current Portion of Leases | 1.24M | 756.00K | 160.00K | 155.00K | 208.00K | 157.00K |
| Current Income Taxes Payable | 3.56M | 647.00K | 2.21M | 774.00K | ||
| Other Current Liabilities | 2.14M | 710.00K | 566.00K | 1.97M | 2.36M | 14.57M |
| Total Current Liabilities | 100.32M | 76.15M | 38.32M | 54.11M | 45.09M | 60.81M |
| Long-Term Debt | 94.98M | 96.05M | 47.73M | 40.29M | 33.12M | 18.44M |
| Long-Term Leases | 5.10M | 4.10M | 2.75M | 2.78M | 1.22M | 222.00K |
| Pension & Post-Retirement Benefits | 17.00K | 96.00K | 115.00K | 105.00K | 96.00K | 119.00K |
| Long-Term Deferred Tax Liabilities | 6.71M | 6.76M | 5.48M | 5.26M | 4.36M | |
| Other Long-Term Liabilities | 2.16M | 2.16M | ||||
| Total Liabilities | 209.29M | 185.32M | 94.40M | 102.54M | 83.88M | 79.59M |
| Common Stock | 9.12M | 9.02M | 8.88M | 8.87M | 8.87M | 8.35M |
| Additional Paid-In Capital | 36.07M | 35.93M | 35.39M | 35.25M | 35.01M | 30.44M |
| Retained Earnings | 132.15M | 119.65M | 101.25M | 96.28M | 79.65M | 58.91M |
| Treasury Stock | -13.19M | -13.11M | -13.10M | -12.93M | -7.78M | -7.74M |
| Comprehensive Income & Other | -317.00K | -10.27M | ||||
| Shareholders' Equity | 164.15M | 151.49M | 132.43M | 127.47M | 115.43M | 79.69M |
| Total Liabilities & Equity | 373.44M | 336.81M | 226.82M | 230.02M | 199.31M | 159.28M |
| Total Debt | 101.32M | 100.91M | 50.64M | 43.23M | 34.55M | 18.82M |
| Net Cash (Debt) | -96.29M | -98.46M | -46.95M | -40.34M | -31.55M | -16.22M |
| Net Cash Per Share | -13.81 | -14.13 | -6.76 | -5.62 | -4.37 | -2.45 |
| Filing Date Shares Outstanding | 7.21M | 7.11M | 7.06M | 6.97M | 7.38M | 7.37M |
| Total Common Shares Outstanding | 7.21M | 7.11M | 6.97M | 6.98M | 7.38M | 6.86M |
| Working Capital | 190.79M | 180.89M | 128.14M | 115.96M | 98.57M | 64.55M |
| Book Value Per Share | 22.76 | 21.30 | 19.00 | 18.27 | 15.65 | 11.62 |
| Tangible Book Value | 164.15M | 151.49M | 132.43M | 127.47M | 115.43M | 79.69M |
| Tangible Book Value Per Share | 22.76 | 21.30 | 19.00 | 18.27 | 15.65 | 11.62 |
| Land | 11.64M | 11.64M | 1.57M | 1.67M | 1.67M | 1.18M |
| Buildings | 32.76M | 32.67M | 30.39M | 30.90M | 28.55M | 8.58M |
| Machinery | 65.77M | 65.51M | 57.97M | 53.61M | 51.00M | 30.42M |
| Construction In Progress | 2.74M | 934.00K | 135.00K | 1.98M | 1.17M | 15.93M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 27.29M | 19.53M | 6.08M | 17.34M | 21.34M | 14.07M |
| Depreciation & Amortization | 4.13M | 3.90M | 3.32M | 3.07M | 2.53M | 1.32M |
| Loss (Gain) From Sale of Assets | -258.00K | |||||
| Stock-Based Compensation | 804.00K | 683.00K | 151.00K | 246.00K | 303.00K | 449.00K |
| Other Operating Activities | 1.06M | 481.00K | -1.74M | 1.20M | 8.57M | 303.00K |
| Change in Accounts Receivable | -27.67M | -19.33M | -147.00K | 2.04M | -13.70M | -15.29M |
| Change in Inventory | -53.00M | -23.91M | 2.12M | -29.56M | 59.25M | -31.93M |
| Change in Accounts Payable | 42.79M | 22.19M | -8.64M | 7.04M | -18.88M | 22.03M |
| Change in Income Taxes | 1.81M | -647.00K | -1.57M | 1.44M | 2.18M | -2.86M |
| Change in Other Net Operating Assets | 3.15M | 5.64M | -3.74M | 2.16M | 2.30M | -1.48M |
| Operating Cash Flow | 365.00K | 8.54M | -4.42M | 4.98M | 63.89M | -13.40M |
| Capital Expenditures | -7.55M | -7.16M | -5.00M | -5.79M | -16.45M | -8.06M |
| Sale of Property, Plant & Equipment | 1.57M | 161.00K | ||||
| Cash Acquisitions | -44.53M | -45.60M | -71.72M | |||
| Other Investing Activities | -13.00K | -13.00K | -14.00K | |||
| Investing Cash Flow | -52.08M | -52.76M | -3.43M | -5.80M | -88.19M | -7.92M |
| Long-Term Debt Issued | 779.68M | 649.49M | 831.44M | 740.94M | 18.44M | |
| Long-Term Debt Repaid | -734.84M | -642.11M | -824.37M | -726.37M | -103.00K | |
| Net Debt Issued (Repaid) | 58.45M | 44.84M | 7.38M | 7.07M | 14.58M | 18.33M |
| Repurchase of Common Stock | -82.00K | -10.00K | -171.00K | -5.15M | -37.00K | -538.00K |
| Common Dividends Paid | -1.13M | -1.13M | -1.11M | -581.00K | -589.00K | -551.00K |
| Other Financing Activities | -395.00K | -395.00K | -393.00K | |||
| Financing Cash Flow | 56.84M | 43.30M | 6.09M | 1.34M | 13.56M | 17.25M |
| Net Cash Flow | 5.12M | -918.00K | -1.75M | 511.00K | -10.74M | -4.07M |
| Free Cash Flow | -7.19M | 1.38M | -9.42M | -813.00K | 47.44M | -21.46M |
| Free Cash Flow Margin | -0.96% | 0.21% | -2.12% | -0.16% | 8.66% | -7.52% |
| Free Cash Flow Per Share | -1.03 | 0.20 | -1.36 | -0.11 | 6.57 | -3.24 |
| Levered Free Cash Flow | -51.42M | -42.87M | -13.03M | -6.51M | -34.76M | -8.84M |
| Unlevered Free Cash Flow | -48.51M | -40.31M | -11.19M | -4.59M | -33.38M | -8.68M |
| Cash Interest Paid | 4.50M | 3.90M | 3.00M | 3.00M | 2.00M | 200.00K |
| Cash Income Tax Paid | 6.90M | 6.70M | 3.20M | 3.90M | 400.00K | 8.30M |
| Change in Working Capital | -32.92M | -16.06M | -11.98M | -16.88M | 31.16M | -29.54M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 299.62M | 126.03M | 103.79M | 130.74M | 83.64M | 60.40M |
| Enterprise Value | 395.91M | 220.15M | 138.17M | 173.96M | 126.09M | 72.94M |
| Last Close Price | 42.16 | 17.65 | 14.70 | 18.31 | 11.01 | 8.48 |
| PE Ratio | 10.82 | 6.56 | 17.12 | 7.62 | 3.98 | 4.47 |
| Forward PE | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | |
| PS Ratio | 0.41 | 0.20 | 0.23 | 0.25 | 0.15 | 0.21 |
| PB Ratio | 1.85 | 0.83 | 0.78 | 1.03 | 0.72 | 0.76 |
| P/TBV Ratio | 1.89 | 0.83 | 0.78 | 1.03 | 0.72 | 0.76 |
| P/FCF Ratio | 91.39 | 1.76 | ||||
| P/OCF Ratio | 851.70 | 14.76 | 26.26 | 1.31 | ||
| EV/Sales Ratio | 0.54 | 0.34 | 0.31 | 0.34 | 0.23 | 0.26 |
| EV/EBITDA Ratio | 9.05 | 7.15 | 22.74 | 6.31 | 5.08 | 2.44 |
| EV/EBIT Ratio | 9.94 | 8.17 | 49.61 | 7.09 | 5.66 | 2.56 |
| EV/FCF Ratio | 159.65 | 2.66 | ||||
| Debt / Equity Ratio | 0.62 | 0.67 | 0.38 | 0.34 | 0.30 | 0.24 |
| Debt / EBITDA Ratio | 2.20 | 3.19 | 7.84 | 1.55 | 1.39 | 0.63 |
| Debt / FCF Ratio | 73.17 | 0.73 | ||||
| Net Debt / Equity Ratio | 0.59 | 0.65 | 0.35 | 0.32 | 0.27 | 0.20 |
| Net Debt / EBITDA Ratio | 2.14 | 3.20 | 7.73 | 1.46 | 1.27 | 0.54 |
| Net Debt / FCF Ratio | -13.40 | 71.40 | -4.99 | -49.62 | 0.67 | -0.76 |
| Asset Turnover | 2.54 | 2.30 | 1.95 | 2.40 | 3.05 | 2.24 |
| Inventory Turnover | 4.37 | 3.92 | 3.48 | 4.39 | 6.19 | 4.70 |
| Quick Ratio | 0.95 | 1.09 | 1.33 | 0.93 | 1.16 | 0.63 |
| Current Ratio | 2.90 | 3.38 | 4.34 | 3.14 | 3.19 | 2.06 |
| Return on Equity (ROE) | 18.11% | 13.76% | 4.68% | 14.28% | 21.88% | 19.40% |
| Return on Assets (ROA) | 8.64% | 5.98% | 0.76% | 7.14% | 7.76% | 14.02% |
| Return on Invested Capital (ROIC) | 11.93% | 9.30% | 1.27% | 11.59% | 13.89% | 28.22% |
| Return on Capital Employed (ROCE) | 15.00% | 10.30% | 1.50% | 13.90% | 14.40% | 29.00% |
| Earnings Yield | 9.24% | 15.50% | 5.86% | 13.27% | 25.52% | 23.29% |
| FCF Yield | -2.31% | 1.09% | -9.07% | -0.62% | 56.72% | -35.53% |
| Dividend Yield | 0.39% | 0.90% | 1.07% | 0.53% | 0.70% | 0.91% |
| Payout Ratio | 4.17% | 5.79% | 18.32% | 3.35% | 2.76% | 3.92% |
| Buyback Yield / Dilution | -0.29% | -0.32% | 3.33% | 0.45% | -8.94% | 1.19% |
| Total Shareholder Return | 0.09% | 0.58% | 4.40% | 0.98% | -8.24% | 2.10% |