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Friedman Industries Inc.

FRD Basic Materials Steel

Friedman Industries Inc.’s revenue for fiscal 2026 (year ended March 2026) was $646.9 million, up 45.5% from fiscal 2025.

Revenue
+88.2%
EPS
+584.4%
Free cash flow
+403.3%
Total debt
0.00%

Quarter to September 2026, against a year earlier

36.82 1.32 +3.72%
Market cap
$256.1M
P/E
6.4×
Fwd P/E
5.0×
Dividend yield
0.43%
F-score
5/9
Altman Z
3.71
Beneish M
−2.15
Dividend safety
63/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.06
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — 3 3 — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 3.48%

Capital & Financial Ratios $m

Size
Market Cap 256.05
Revenue ttm 886.53
Net income ttm 40.66
Free cash flow ttm 6.05
Net debt Q (2.15)
Valuation
P/E 6.45
Forward P/E 4.98
Price / sales 0.29
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.43
Financial health
Current ratio Q 2.68 (at or above 1.5: strong)
Debt / equity Q 0.02 (at or below 0.5: strong)
Interest coverage Q 28.09
Growth
Revenue growth Q +88.21% (above 0%: growing)
Operating income growth Q +1,170.37% (above 0%: growing)
EPS, this year —
EPS, next year A —
Revenue, next year A −11.33% (below 0%: weak)
EPS, past 5 yrs +11.11%
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.3×, against a ten-year median of 0.3×; over the ten years it ranged from 0.1× in 2020 to 0.7× in 2021.
P/E against its own 10 years 31.02%
10-year low 10-year high
P/S against its own 10 years 53.23%
10-year low 10-year high
P/B against its own 10 years 96.00%
10-year low 10-year high
EV/Sales against its own 10 years 58.83%
10-year low 10-year high

Dividends

Yield
0.43%
Annual rate
0.16
Payout ratio
2.80%
Growth, 2018–26
+3.66%/yr
  1. 0.12 ’18
  2. 0.16 ’19 +33
  3. 0.08 ’20 −50
  4. 0.08 ’21 +0
  5. 0.08 ’22 +0
  6. 0.08 ’23 +0
  7. 0.14 ’24 +75
  8. 0.16 ’25 +14
  9. 0.16 ’26 +0
paid change on the year, %

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 3 4 2 6
Receivables 47 47 81 117
Inventory 116 114 172 202
Other 4 2 2 16
170 166 257 341
2024 2025 2026 Q'26
Payables 44 35 67 101
ST’ Debt — — — —
Other 8 2 9 —
54 38 76 127

Compound Annual Growth %

10y 5y 3y
Sales 23.00% 38.68% 5.72%
Cash Flow 10.93% 0.27% (48.87%)
Earnings 51.89% 10.96% (2.94%)
Book Value 9.13% 18.32% 9.49%

EPS $

Jun Sep Dec Mar Year
’26 1.79 2.19 — — —
’26 0.71 0.32 0.43 1.30 2.76
’25 0.37 (0.10) (0.17) 0.76 0.87
’24 1.04 0.48 0.16 0.71 2.39
’23 1.55 0.34 0.19 0.86 2.91
’22 1.64 1.91 (0.43) (1.11) 2.12
’21 (0.12) (0.04) 0.30 1.50 1.63
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 240 287 — — —
’26 135 152 168 192 647
’25 115 107 94 129 445
’24 137 131 116 132 516
’23 162 150 112 124 548
’22 66 93 52 75 285
’21 24 25 29 49 126
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 7 6 — — —
’26 15 0 (5) (3) 9
’25 (6) 11 3 (12) (4)
’24 (5) (16) 21 4 5
’23 (21) 76 (11) 20 64
’22 2 (27) 2 10 (13)
’21 (2) 6 1 4 8
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 5 6 — — —
’26 14 (2) (6) (4) 1
’25 (7) 10 2 (12) (7)
’24 (5) (18) 19 3 (1)
’23 (24) 72 (12) 12 47
’22 (1) (27) (3) 9 (21)
’21 (3) 4 0 3 4
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 78 121 187 142 126 285 548 516 445 647 887 +26.5% — — — —
Gross margin, % (0.25) 8.21 6.90 1.84 18.70 14.37 8.31 9.42 5.00 8.98 0.00 +9.2 pt
EBT (4) 6 7 (7) 15 18 28 23 8 26 54 n/m
EBT margin, % (5.34) 4.76 3.65 (4.81) 12.07 6.43 5.15 4.52 1.73 4.08 6.13 +9.4 pt
Net income (3) 4 5 (5) 11 14 21 17 6 20 41 n/m
Per share, $
Per share, $ Revenue 11.35 17.29 26.70 20.30 18.81 43.06 75.88 71.86 64.02 92.85 0.00 +26.3%
Earnings (0.39) 0.56 0.73 (0.75) 1.63 2.12 2.91 2.39 0.87 2.76 5.71 n/m
Cash flow (0.03) 0.46 1.37 1.60 1.26 (2.02) 8.85 0.69 (0.64) 1.23 0.00 n/m
Capex (0.12) (0.05) (0.12) (0.71) (0.68) (1.19) (2.28) (0.81) (0.35) (1.03) (1.08) +27.3%
Free cash flow (0.15) 0.41 1.26 0.90 0.57 (3.22) 6.57 (0.11) (0.99) 0.20 0.00 n/m
Book value 8.81 9.78 10.34 9.55 9.75 12.03 16.00 17.74 19.07 21.74 0.00 +10.6%
Shares, m 7 7 7 7 7 7 7 7 7 7 7 +0.2%
Valuation, ×
Valuation, × P/E 0.00 10.42 10.58 0.00 4.93 4.38 3.86 7.66 17.31 6.42 6.45 6.6
P/S 0.57 0.34 0.29 0.22 0.43 0.20 0.15 0.25 0.23 0.19 0.29 0.3
P/B 0.73 0.59 0.74 0.46 0.83 0.73 0.71 1.03 0.78 0.81 1.43 0.7
EV/Sales 0.55 0.30 0.22 0.10 0.38 0.20 0.15 0.25 0.23 0.19 0.29 0.3
EV/FCF (42.65) 12.69 4.73 2.28 12.40 (2.70) 1.72 (161.42) (14.96) 91.38 (171.10) (9.7)
Cash, $m
Cash, $m Operating cash flow 0 3 10 11 8 (13) 64 5 (4) 9 6 n/m
Capex (1) 0 (1) (5) (5) (8) (16) (6) (2) (7) (8) +27.6%
Free cash flow (1) 3 9 6 4 (21) 47 (1) (7) 1 6 n/m
Balance, $m
Balance, $m Working capital 43 56 62 56 48 65 99 116 128 181 214 +17.3%
Net debt (1) (4) (12) (17) (7) (2) (2) (3) (4) 1 (2) n/m
Shareholders’ equity 60 69 72 67 65 80 115 127 132 151 180 +10.8%
Returns, %
Returns, % ROA (4.12) 5.43 6.06 (6.40) 13.26 10.64 11.72 8.00 2.65 6.82 0.00 +10.9 pt
ROIC (4.47) 5.56 6.56 (8.52) 16.70 23.06 11.59 12.30 1.48 10.51 25.76 +15.0 pt
ROE (4.33) 6.10 7.23 (7.53) 17.28 18.65 21.54 14.14 4.67 13.54 0.00 +17.9 pt
People
People Employees 82 91 104 103 94 99 235 268 271 381 — +18.6%
Revenue/emp, $m 0.95 1.33 1.80 1.38 1.34 2.88 2.33 1.93 1.64 1.70 — +6.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Friedman Industries Inc. vs peers in Steel (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SIM Grupo Simec, S.A. de C.V. $4.3B 20.7× 28.5× +17.46% (above 0%: growing) +38.87% (above 0%: growing) +96.72% (above 0%: growing) 24.99% 15.91% Compare
WS Worthington Steel, Inc. $1.8B — (loss-making) 8.7× +212.36% (above 0%: growing) n/m −42.57% (below 0%: shrinking) 9.58% 2.05% Compare
SID National Steel Company $1.0B — (loss-making) 199× +18.55% (above 0%: growing) n/m +8.38% (above 0%: growing) 25.92% 5.54% Compare
NWPX NWPX Infrastructure, Inc. $797.7M 15.8× 17.5× +18.75% (above 0%: growing) +35.17% (above 0%: growing) +54.47% (above 0%: growing) 21.29% 13.55% Compare
MTUS Metallus Inc. $650.2M 28.9× 27.3× +10.23% (above 0%: growing) +202.58% (above 0%: growing) +1.56% (above 0%: growing) 10.77% 9.49% Compare
FRD Friedman Industries Inc. $256.1M 6.4× 5.0× +88.21% (above 0%: growing) +584.37% (above 0%: growing) +403.27% (above 0%: growing) 0.00% 12.75%
MSB Mesabi Trust $216.4M 35.1× 56.9× −55.76% (below 0%: shrinking) n/m −94.31% (below 0%: shrinking) 100.00% 100.00% Compare
ZKIN ZK International Group Co., Ltd. $116.3M — (loss-making) — (loss-making) +6.38% (above 0%: growing) +100.00% (above 0%: growing) −602.13% (below 0%: shrinking) 6.38% 0.00% Compare
LUD Luda Technology Group Limited $86.5M — — — — — — — Compare
Median of peers $724.0M 24.8× 27.9× +17.46% +69.44% +1.56% 21.29% 9.49%

All 19 Steel stocks →

Pay and ownership Proxy statement filed 28 July 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 2.71m 2.87m 156.88
2025 700.73k 662.23k 131.31
2024 1.61m 1.69m 165.26

Ownership

Directors and executive officers, together 6.60%
Dimensional Fund Advisors LP 7.50%
De Lisle Partners LLP. 5.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Friedman Industries Inc. (FRD) Latest News

5 Nov

Impact 4 · · GlobeNewswire

13 Oct

Impact 4 · · Zacks
Impact 4 · · Simply Wall St.

8 Oct

Impact 3 · · GlobeNewswire

6 Aug

Impact 3 ·
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26 Jun

Impact 3 ·

17 Jun

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11 Jun

Impact 3 ·

17 Mar

Impact 4 · · GlobeNewswire

16 Feb

Impact 3 · · Zacks

9 Feb

Impact 3 · · GlobeNewswire

22 Dec

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

10 Dec

Impact 4 · · Zacks

2 Dec

Impact 4 · · Simply Wall St.

12 Nov

Impact 3 · · ZacksGuruFocus.comGuruFocus.comZacksZacksGuruFocus.comMT NewswiresGuruFocus.com

10 Nov

Impact 3 · · GlobeNewswire

3 Nov

Impact 4 · · Simply Wall St.

2 Sep

Impact 4 ·

12 Aug

Impact 4 ·

7 Aug

Impact 3 ·

14 Jul

Impact 4 · · GlobeNewswire

30 Jun

Impact 4 · · GlobeNewswire

25 Jun

Impact 3 ·

19 Jun

Impact 3 · · Zacks

14 Jun

Impact 3 · · Simply Wall St.

13 Jun

Impact 3 · · Simply Wall St.

12 Jun

Impact 3 · · GlobeNewswire

27 May

Impact 3 · · Simply Wall St.

11 May

Impact 3 · · Simply Wall St.
stockrow.com/FRD · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com