Friedman Industries, Incorporated (FRD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 23	—	$0.19	—	—	$111.9M	—
Q2 23	—	$0.34	—	—	$149.7M	—
Q1 23	—	-$1.11	—	—	$161.8M	—
Q3 22	—	-$0.43	—	—	$51.7M	—
Q2 22	—	$1.91	—	—	$92.6M	—
Q1 22	—	$1.64	—	—	$65.9M	—
Q4 21	—	$0.3	—	—	—	—
Q3 21	—	-$0.04	—	—	—	—
Q2 21	—	-$0.12	—	—	—	—
Q1 21	—	-$0.43	—	—	—	—
Q4 20	—	-$0.13	—	—	—	—
Q3 20	—	-$0.22	—	—	—	—
Q2 20	—	$0.03	—	—	—	—
Q1 20	—	$0.08	—	—	$41M	—
Q3 19	—	$0.09	—	—	$43.3M	—
Q2 19	—	$0.29	—	—	$53.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$2.76	—	—	$646.9M	—
FY25	—	$0.87	—	—	$444.6M	—
FY24	—	$2.39	—	—	$516.3M	—
FY23	—	$2.91	—	—	$547.5M	—
FY22

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$77.8M	$121.2M	$187.2M	$142.1M	$126.1M	$285.2M	$547.5M	$516.3M	$444.6M	$646.9M
YoY change	-4.75%	+55.8%	+54.5%	-24.1%	-11.3%	+126.2%	+92%	-5.71%	-13.9%	+45.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	77.8M	121.2M	187.2M	142.1M	126.1M	285.2M	547.5M	516.3M	444.6M	646.9M
Cost of revenue	77.9M	111.2M	174.2M	139.5M	102.5M	244.2M	477.6M	443.8M	399.1M	560.4M
Gross profit	-191.6K	9.9M	12.9M	2.6M	23.6M	41M	70M	72.4M	45.5M	86.5M
Gross margin	-0.25%	8.21%	6.9%	1.84%	18.7%	14.4%	12.8%	14%	10.2%	13.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4M	4.2M	4.8M	5.1M	7.8M	12.5M	46.4M	44.8M	16.2M	28.6M
Operating expenses	4M	4.2M	4.8M	5.1M	7.8M	12.5M	46.4M	44.8M	39.4M	57M
Operating income	-4.2M	5.8M	8.1M	-2.5M	15.8M	28.5M	21.1M	24.5M	2.8M	25.7M
Operating margin	-5.41%	4.76%	4.34%	-1.77%	12.5%	10%	3.85%	4.75%	0.63%	3.97%
Non-operating income, net	—	—	-1.7M	-4.3M	-503.4K	-9.9M	9.3M	1.9M	7.9M	4.8M
Pretax income	-4.2M	5.8M	6.8M	-6.8M	15.2M	18.3M	28.2M	23.3M	7.7M	26.4M
Income tax	-1.5M	1.8M	1.7M	-1.6M	3.8M	4.3M	6.8M	6M	1.6M	6.8M
Net income	-2.7M	3.9M	5.1M	-5.2M	11.4M	14.1M	21.3M	17.3M	6.1M	19.5M
Net margin	-3.44%	3.25%	2.72%	-3.69%	9.06%	4.93%	3.9%	3.36%	1.37%	3.02%
EBITDA	-2.6M	7.1M	9.9M	-970K	16.3M	31.5M	23.6M	27.6M	6.1M	29.5M
EPS	-0.39	0.56	0.73	-0.75	1.63	2.04	2.91	2.39	0.87	2.76
Diluted EPS	-0.39	0.56	0.73	-0.75	1.63	2.04	2.91	2.39	0.87	2.76

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	130.7M	116M	132.2M	114.6M	106.8M	94.1M	129.2M	134.8M	152.4M	168M	191.8M	240M
Cost of revenue	117.7M	105.5M	92.4M	104.6M	96.6M	86M	111.9M	115M	135.1M	148.7M	161.6M	197.6M
Gross profit	13.1M	10.4M	39.8M	10M	10.1M	8.1M	17.3M	19.7M	17.2M	19.3M	30.2M	42.3M
Gross margin	9.99%	9%	30.1%	8.69%	9.5%	8.6%	13.4%	14.7%	11.3%	11.5%	15.8%	17.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4.7M	4.3M	29.8M	10.6M	3.9M	3.9M	3.8M	11.9M	6.3M	7.2M	9.7M	20.2M
Operating expenses	11.3M	4.3M	29.8M	10.6M	9.3M	8.8M	10.7M	11.9M	13.4M	14.4M	17.3M	20.2M
Operating income	1.1M	6.2M	6.9M	-1.4M	-2K	-1.6M	5.7M	7M	2.9M	3.9M	11.8M	21M
Operating margin	0.81%	5.32%	5.24%	-1.22%	-0%	-1.66%	4.45%	5.23%	1.89%	2.32%	6.17%	8.77%
Non-operating income, net	4.4M	-4.1M	1.1M	5.4M	-31K	640K	1.9M	280K	852K	1.4M	2.3M	-2.8M
Pretax income	4.7M	1.3M	7.1M	3.3M	-902K	-1.6M	6.8M	6.6M	3M	4M	12.7M	17M
Income tax	1.1M	74K	2.2M	732K	-227K	-400K	1.5M	1.6M	737K	961K	3.5M	4.2M
Net income	3.5M	1.2M	5M	2.6M	-675K	-1.2M	5.3M	5M	2.2M	3M	9.2M	12.8M
Net margin	2.69%	1.02%	3.75%	2.24%	-0.63%	-1.22%	4.14%	3.73%	1.47%	1.81%	4.81%	5.33%
EBITDA	1.8M	6.9M	7.7M	-600K	818K	-732K	6.6M	7.9M	3.8M	5M	12.8M	22M
EPS	0.48	0.16	—	0.37	-0.1	-0.17	0.76	0.71	0.32	0.43	1.3	1.79
Diluted EPS	0.48	0.16	—	0.37	-0.1	-0.17	0.76	0.71	0.32	0.43	1.3	1.79

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	44.2M	41.1M	53.8M	30.9M	56.9M	58.4M	—	134.6M	104.1M	125.4M	284.3M
Enterprise value	42.7M	37.1M	42.1M	14.3M	50.5M	74.3M	—	174.9M	150.9M	223.1M	380M
Shares outstanding	6.9M	7M	7M	7M	7M	6.6M	7.3M	7.2M	7M	7.1M	7.1M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	—	10.5	10.5	—	4.98	4.15	—	7.76	17.1	6.42	10.3
P/S	0.57	0.34	0.29	0.22	0.45	0.2	—	0.26	0.23	0.19	0.38
P/B	0.73	0.6	0.74	0.46	0.87	0.73	—	1.06	0.79	0.83	1.74
EV/EBITDA	-16.7	5.19	4.25	-14.7	3.1	2.36	—	6.33	24.8	7.57	8.45
EV/Sales	0.55	0.31	0.22	0.1	0.4	0.26	—	0.34	0.34	0.34	0.51
Earnings yield	—	9.56%	9.48%	—	20.1%	24.1%	—	12.9%	5.84%	15.6%	9.72%
FCF yield	-2.27%	7.04%	16.4%	20.4%	6.71%	-36.8%	—	-0.6%	-9.04%	1.1%	-18.1%
PEG	—	—	—	—	—	—	—	—	—	—	0.07

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	-0.25%	8.21%	6.9%	1.84%	18.7%	14.4%	12.8%	14%	10.2%	13.4%	17.6%
Operating margin	-5.41%	4.76%	4.34%	-1.77%	12.5%	10%	3.85%	4.75%	0.63%	3.97%	8.77%
Net margin	-3.44%	3.25%	2.72%	-3.69%	9.06%	4.93%	3.9%	3.36%	1.37%	3.02%	3.63%
ROE	-4.44%	5.74%	7.04%	-7.85%	17.5%	17.7%	18.5%	13.6%	4.6%	12.9%	18.1%
ROA	-4.23%	4.82%	5.89%	-6.79%	12%	8.83%	10.7%	7.54%	2.68%	5.8%	8.64%
ROIC	-7.15%	6.1%	9.98%	-5%	20.1%	22.9%	10.9%	10.9%	1.23%	7.62%	11.4%
Return on tangible assets	-4.23%	4.82%	5.89%	-6.79%	12%	8.83%	10.7%	7.54%	2.68%	5.8%	7.31%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	19.3	6.1	6.02	6.76	2.67	2.06	3.19	3.14	4.34	3.38	2.9
Quick ratio	4.46	1.99	2.05	3.06	1.43	0.94	1.27	1	1.38	1.11	1
Debt / equity	—	—	—	0.01	0.03	0.23	0.3	0.34	0.38	0.66	0.62
Debt / assets	—	—	—	0.01	0.02	0.12	0.17	0.19	0.22	0.3	0.27
Net debt / EBITDA	—	—	—	17.1	-0.39	0.51	1.33	1.46	7.7	3.32	2.18
Interest coverage	—	208	389.9	-1.4K	619.3	72.9	13.7	8.59	3.61	7.43	8.89
Effective tax rate	0%	31.8%	25.3%	0%	24.9%	23.3%	24.3%	25.6%	20.9%	25.9%	25.7%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	11.3	17.3	26.7	20.3	17.9	43.1	74.7	71.9	63.6	91.4	107.9
EPS (basic)	-0.39	0.56	0.73	-0.75	1.63	2.04	2.91	2.39	0.87	2.76	2.76
EPS (diluted)	-0.39	0.56	0.73	-0.75	1.63	2.04	2.91	2.39	0.87	2.76	3.84
Book value per share	8.81	9.78	10.3	9.55	9.3	12	15.7	17.7	18.9	21.4	22.8
FCF per share	-0.15	0.41	1.26	0.9	0.54	-3.24	6.47	-0.11	-1.35	0.19	-1.03
Cash per share	0.21	0.58	1.66	2.44	1.17	0.39	0.41	0.4	0.53	0.35	0.7
Capex per share	0.12	0.05	0.12	0.71	0.66	1.22	2.24	0.81	0.72	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	1.03%	0.29%	0.43%	3.47%	3.66%	2.83%	3.01%	1.12%	1.13%	—	—
Capex / operating cash flow	-307%	12.4%	10.5%	70.1%	33.4%	-55.6%	28.4%	182.3%	-787.7%	—	—
Payout ratio	-10.2%	7.13%	23.4%	-16%	4.94%	3.92%	2.76%	3.35%	18.3%	5.8%	4.17%
Dividend yield	0.62%	0.68%	2.22%	2.72%	0.99%	0.94%	—	0.43%	1.07%	0.9%	0.4%

Yield

0.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.04

ex-dividend Oct 23, 2026

Payout ratio

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Oct 23, 2026upcoming	$0.04
Jul 17, 2026	$0.04
Apr 24, 2026	$0.04

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$130.7M	$116M	$132.2M	$114.6M	$106.8M	$94.1M	$129.2M	$134.8M	$152.4M	$168M	$191.8M	$240M
YoY change	-12.7%	+3.68%	+6.48%	-16.6%	-18.3%	-18.9%	-2.28%	+17.7%	+42.7%	+78.6%	+48.4%	+78.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	1.5M	4.1M	11.7M	17.1M	8.2M	2.6M	3M	2.9M	3.7M	2.5M
Receivables	8.9M	17.5M	13.2M	11.7M	20.4M	35.7M	49.4M	47.3M	47.5M	80.2M
Inventory	34.9M	45.3M	49.1M	35.7M	36M	67.9M	86.2M	115.8M	113.7M	172.2M
Total current assets	45.4M	67.3M	74.5M	65.2M	77.5M	125.4M	143.7M	170.1M	166.5M	257M
Property, plant & equipment	8.1M	5.5M	3.1M	2.5M	6.3M	21.6M	26.7M	28.7M	28.7M	45.7M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	63.3M	81.7M	86.6M	77.3M	95M	159.3M	199.3M	230M	226.8M	336.8M
Accounts payable	2M	10.2M	11.6M	8.9M	15.2M	44.8M	36.8M	43.9M	35.3M	67.2M
Short-term debt	—	—	—	100.7K	1.6M	105K	107K	54K	—	—
Total current liabilities	2.4M	11M	12.4M	9.6M	29.1M	60.8M	45.1M	54.1M	38.3M	76.1M
Long-term debt	—	—	—	372.4K	172K	18.4M	34.3M	43.1M	50.5M	100.2M
Total liabilities	2.9M	13.1M	14.1M	10.5M	29.7M	79.6M	83.9M	102.5M	94.4M	185.3M
Shareholders' equity	60.4M	68.6M	72.5M	66.9M	65.3M	79.7M	115.4M	127.5M	132.4M	151.5M
Total debt	—	—	—	473.1K	1.8M	18.5M	34.4M	43.1M	50.5M	100.2M
Net debt	—	—	—	-16.6M	-6.4M	15.9M	31.5M	40.2M	46.8M	97.7M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	3.2M	4M	2.9M	4.1M	2.5M	1.1M	3.7M	2.1M	4.6M	3M	2.5M	5M
Receivables	52.3M	44.4M	47.3M	37.8M	39.6M	31.7M	47.5M	50.7M	62.3M	55.8M	80.2M	90.7M
Inventory	104.5M	113.9M	115.8M	119.8M	105.1M	115.4M	113.7M	103.5M	161.6M	169.2M	172.2M	191.1M
Total current assets	165.2M	170.9M	170.1M	162.4M	148M	149.3M	166.5M	157.9M	231.3M	231.5M	257M	291.1M
Property, plant & equipment	27.9M	28.4M	28.7M	29.1M	28.9M	28.8M	28.7M	29.6M	45M	45.4M	45.7M	48.2M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	222.1M	229M	230M	222.8M	209.2M	210.3M	226.8M	219.1M	311.3M	311.9M	336.8M	373.4M
Accounts payable	29.4M	47.9M	43.9M	34.4M	34.6M	41.1M	35.3M	35.3M	67.8M	59.9M	67.2M	88.2M
Short-term debt	108K	81K	54K	27K	—	—	—	—	—	—	—	—
Total current liabilities	35.3M	54.6M	54.1M	38.8M	36.4M	42.3M	38.3M	40.5M	71.4M	64.4M	76.1M	100.3M
Long-term debt	55.5M	47.1M	43.1M	49M	38.7M	35.3M	50.5M	35.8M	91.5M	96.4M	100.2M	100.1M
Total liabilities	95.3M	106.2M	102.5M	93.1M	80.4M	82.9M	94.4M	81.8M	172M	169.6M	185.3M	209.3M
Shareholders' equity	126.8M	122.7M	127.5M	129.7M	128.8M	127.3M	132.4M	137.3M	139.3M	142.2M	151.5M	164.2M
Total debt	55.6M	47.2M	43.1M	49M	38.7M	35.3M	50.5M	35.8M	91.5M	96.4M	100.2M	100.1M
Net debt	52.5M	43.2M	40.2M	44.8M	36.2M	34.2M	46.8M	33.7M	86.9M	93.4M	97.7M	95.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	-2.7M	3.9M	5.1M	-5.2M	11.4M	14.1M	21.3M	17.3M	6.1M	19.5M
Depreciation & amortization	1.6M	1.4M	1.3M	1.5M	1M	1.3M	2.5M	3.1M	3.3M	3.8M
Stock-based compensation	72.2K	289K	137.6K	332.9K	527.7K	449K	303K	246K	151K	683K
Change in working capital	1.5M	-4.1M	1.5M	10.7M	-771.5K	-28.1M	30.4M	-18.3M	-10.4M	-15.4M
Operating cash flow	-260.3K	2.8M	7.7M	7M	13.8M	-14.5M	57.9M	3.2M	-635K	8.5M
Capital expenditure	-799.3K	-349.2K	-808K	-4.9M	-4.6M	-8.1M	-16.5M	-5.8M	-5M	—
Investing cash flow	-917.3K	-399K	-843.8K	-5M	-4.6M	-7.9M	-88.2M	-5.8M	-3.4M	-45.6M
Dividends paid	-274.1K	-280.4K	-1.2M	-839.9K	-564.2K	-551K	-589K	-581K	-1.1M	-1.1M
Share repurchases	—	—	—	0	-1.7M	-538K	-37K	-5.2M	-171K	-10K
Financing cash flow	-274.1K	-280.4K	-1.2M	-889.6K	-701.9K	17.2M	13.6M	1.3M	6.1M	43.3M
Net change in cash	-1.5M	2.1M	5.7M	1.2M	8.5M	-5.2M	-16.8M	-1.3M	2M	6.2M
Free cash flow	-1M	2.9M	8.8M	6.3M	3.8M	-21.5M	47.4M	-813K	-9.4M	1.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	3.5M	1.2M	5M	2.6M	-675K	-1.2M	5.3M	5M	2.2M	3M	9.2M	12.8M
Depreciation & amortization	760K	762K	777K	795K	823K	827K	846K	847K	919K	1.1M	975K	1.1M
Stock-based compensation	78K	37K	53K	47K	42K	32K	30K	123K	36K	182K	342K	244K
Change in working capital	-18M	17.9M	-3.6M	-8.4M	13M	3.6M	-18.5M	7.8M	-58K	-8.1M	-15M	-11M
Operating cash flow	-13.7M	19.9M	3M	-5.1M	13.2M	3.3M	-12.1M	15.5M	437K	-4.7M	-2.6M	7.3M
Capital expenditure	-2.4M	-1.9M	-1M	-1.1M	-1.8M	-1.1M	-957K	—	—	—	—	—
Investing cash flow	-2.4M	-1.9M	-1M	-1.1M	-1.8M	-348K	-184K	-3K	-45.6M	-2K	0	1.1M
Dividends paid	-147K	-148K	-138K	-279K	-278K	-279K	-279K	-282K	-283K	-281K	-286K	-284K
Share repurchases	-4K	-5.1M	0	-123K	-11K	-37K	0	-10K	1K	-1K	0	-82K
Financing cash flow	14.9M	-13.7M	-5.8M	5.4M	-10.5M	-3.7M	14.9M	-15M	50.2M	4.8M	3.7M	-1.4M
Net change in cash	-1.3M	4.3M	-3.8M	-754K	812K	-735K	2.7M	505K	5.1M	32K	1M	6.9M
Free cash flow	-18.1M	19.4M	2.9M	-7.1M	8.9M	1.6M	-12.8M	13.7M	-2M	-6.3M	-4M	5.1M

Date	Ratio
Apr 26, 2000	105:100
Apr 28, 1999	105:100
Apr 29, 1998	105:100
Apr 23, 1997	105:100
Apr 24, 1996	105:100
Apr 17, 1995	105:100
Apr 11, 1994	105:100
Apr 2, 1993	105:100
Apr 6, 1992	105:100
Apr 8, 1991	105:100
Apr 3, 1989	105:100
Apr 4, 1988	105:100
Oct 6, 1987	105:100
Apr 3, 1986	105:100
Mar 31, 1986	105:100
Mar 29, 1985	105:100
Apr 2, 1984	105:100
Apr 2, 1982	11:10
Apr 6, 1981	115:100
Mar 28, 1980	11:10

Friedman Industries, Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history