Saturday 17 October 2026 Export FRD’s income statement to Excel — free account

Friedman Industries Inc.

Friedman Industries Inc.’s revenue for fiscal 2026 (year ended March 2026) was $646.9 million, up 45.5% from fiscal 2025. In the quarter to June 2026, revenue grew 78.1%, EPS grew 152.1% and free cash flow fell 62.5%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.

40.48 0.78 −1.89%

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Market cap: $297.6M
P/E: 10.5×
Fwd P/E: 5.0×
Dividend yield: 0.49%
F-score: 5/9
Altman Z: 3.71
Beneish M: −2.15
Dividend safety: 63/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.12

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	2	1	—	3	3	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 3.48%

Capital & Financial Ratios $m

Market Cap 297.60

Revenue 752.11

Net Income 27.29

Free Cash Flow (7.19)

Net Debt (1.54)

Current Ratio 2.90

Debt/Equity 0.02

P/E ratio 10.54

Fwd P/E 4.98

P/S ratio 0.38

P/B ratio 1.72

Past 5Y EPS Growth 11.11%

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth (11.33%)

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 56.32%

10-year low 10-year high

P/S against its own 10 years 66.83%

10-year low 10-year high

P/B against its own 10 years 98.56%

10-year low 10-year high

EV/Sales against its own 10 years 72.24%

10-year low 10-year high

Dividends

Payout Ratio 0.05

Annual Dividend Rate 0.20

Annual Dividend Yield 0.49%

	total	individual payouts
2026	0.16	0.04 0.04 0.04 0.04
2025	0.16	0.04 0.04 0.04 0.04
2024	0.14	0.02 0.04 0.04 0.04
2023	0.08	0.02 0.02 0.02 0.02
2022	0.08	0.02 0.02 0.02 0.02
2021	0.08	0.02 0.02 0.02 0.02
2020	0.08	0.02 0.02 0.02 0.02
2019	0.16	0.06 0.04 0.04 0.02
2018	0.12	0.01 0.02 0.03 0.06
2017	0.04	0.01 0.01 0.01 0.01
2016	0.04	0.01 0.01 0.01 0.01

special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	3	4	2	5
Receivables	47	47	81	91
Inventory	116	114	172	191
Other	4	2	2	4
	170	166	257	291

	2024	2025	2026	Q'26
Payables	44	35	67	88
ST’ Debt	—	—	—	—
Other	8	2	9	8
	54	38	76	100

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%

Revenue $m

	Jun	Sep	Dec	Mar	Year
’26	240	—	—	—	—
’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	—	—	—	—
’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	—	—	—	—
’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.

EPS $

	Jun	Sep	Dec	Mar	Year
’26	1.79	—	—	—	—
’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.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	5.05	5.24	5.78	3.72	6.70	6.74	9.50	13.40	12.24	16.55	Analyst estimates 2027–2029 Powerpack
	High	7.29	11.47	8.48	7.30	15.63	12.00	18.31	19.52	23.50	48.77
People
People	Employees	82	91	104	103	94	99	235	268	271	381
	Revenue/emp, $m	0.95	1.33	1.80	1.38	1.34	2.88	2.33	1.93	1.64	1.70
Income, $m
Income, $m	Revenue	78	121	187	142	126	285	548	516	445	647
	Gross margin, %	(0.25)	8.21	6.90	1.84	18.70	14.37	8.31	9.42	5.00	8.98
	EBT	(4)	6	7	(7)	15	18	28	23	8	26
	EBT margin, %	(5.34)	4.76	3.65	(4.81)	12.07	6.43	5.15	4.52	1.73	4.08
	Net income	(3)	4	5	(5)	11	14	21	17	6	20
	Depreciation	2	1	1	2	1	1	3	3	3	4
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
	Earnings	(0.39)	0.56	0.73	(0.75)	1.63	2.12	2.91	2.39	0.87	2.76
	Cash flow	(0.03)	0.46	1.37	1.60	1.26	(2.02)	8.85	0.69	(0.64)	1.23
	Capex	(0.12)	(0.05)	(0.12)	(0.71)	(0.68)	(1.19)	(2.28)	(0.81)	(0.35)	(1.03)
	Free cash flow	(0.15)	0.41	1.26	0.90	0.57	(3.22)	6.57	(0.11)	(0.99)	0.20
	Book value	8.81	9.78	10.34	9.55	9.75	12.03	16.00	17.74	19.07	21.74
	Shares, m	7	7	7	7	7	7	7	7	7	7
Valuation, ×
Valuation, ×	P/E	0.00	10.42	10.58	0.00	4.93	4.38	3.86	7.66	17.31	6.42
	P/S	0.57	0.34	0.29	0.22	0.43	0.20	0.15	0.25	0.23	0.19
	P/B	0.73	0.59	0.74	0.46	0.83	0.73	0.71	1.03	0.78	0.81
	EV/Sales	0.55	0.30	0.22	0.10	0.38	0.20	0.15	0.25	0.23	0.19
	EV/FCF	(42.65)	12.69	4.73	2.28	12.40	(2.70)	1.72	(161.42)	(14.96)	91.38
Cash, $m
Cash, $m	Operating cash flow	0	3	10	11	8	(13)	64	5	(4)	9
	Capex	(1)	0	(1)	(5)	(5)	(8)	(16)	(6)	(2)	(7)
	Free cash flow	(1)	3	9	6	4	(21)	47	(1)	(7)	1
Balance, $m
Balance, $m	Working capital	43	56	62	56	48	65	99	116	128	181
	Total debt	—	—	—	1	2	0	1	—	—	3
	Net debt	(1)	(4)	(12)	(17)	(7)	(2)	(2)	(3)	(4)	1
	Shareholders’ equity	60	69	72	67	65	80	115	127	132	151
Returns, %
Returns, %	ROA	(4.12)	5.43	6.06	(6.40)	13.26	10.64	11.72	8.00	2.65	6.82
	ROIC	(4.47)	5.56	6.56	(8.52)	16.70	23.06	11.59	12.30	1.48	10.51
	ROE	(4.33)	6.10	7.23	(7.53)	17.28	18.65	21.54	14.14	4.67	13.54

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SID National Steel Company	$1.5B	— (loss-making)	199×	+18.55% (above 0%: growing)	n/m	+8.38% (above 0%: growing)	25.92%	5.54%	Compare
MTL Mechel PAO	$1.2B	0.8×	10.3×	+70.05% (above 0%: growing)	n/m	+467.53% (above 0%: growing)	44.33%	0.00%	Compare
NWPX NWPX Infrastructure, Inc.	$945.9M	19.3×	23.9×	+19.74% (above 0%: growing)	+80.22% (above 0%: growing)	+410.94% (above 0%: growing)	21.54%	13.26%	Compare
MTUS Metallus Inc.	$846.4M	108×	25.5×	+11.95% (above 0%: growing)	+133.33% (above 0%: growing)	−114.12% (below 0%: shrinking)	10.00%	3.46%	Compare
ASTL Algoma Steel Group Inc.	$433.2M	— (loss-making)	— (loss-making)	−54.68% (below 0%: shrinking)	n/m	+20.93% (above 0%: growing)	(39.36%)	(50.17%)	Compare
FRD Friedman Industries Inc.	$297.6M	10.5×	5.0×	+78.05% (above 0%: growing)	+152.11% (above 0%: growing)	−62.51% (below 0%: shrinking)	13.73%	8.77%
MSB Mesabi Trust	$236.7M	36.3×	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.	$123.6M	— (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	$89.2M	—	—	—	—	—	—	—	Compare
Median of peers	$639.8M	27.8×	25.5×	+11.95%	+100.00%	+8.38%	21.54%	3.46%

All 21 Steel stocks →

Friedman Industries Inc. (FRD) key facts

Strength: Friedman Industries Inc.’s revenue for fiscal 2026 (year ended March 2026) was $646.9 million, up 45.5% from fiscal 2025.
Friedman Industries Inc. (FRD) is a Steel company in the Basic Materials sector, listed on Nasdaq.
As of October 16, 2026, FRD traded at $40.48, a market capitalization of $297.6 million.
Friedman Industries Inc. pays an annual dividend of $0.20 per share, a yield of 0.49%, with a payout ratio of 5.21%.
Return on equity was 13.5% and debt-to-equity 0.02.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 3.71 (safe zone) for fiscal 2026.