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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. 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%
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 (at or above 1.5: strong)
Debt/Equity 0.02 (at or below 0.5: strong)
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%) (below 0%: weak)
Next 5Y EPS Growth —

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.4×, 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 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.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
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

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
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.

Source: company filings (standardised) and stockrow calculations.

Friedman Industries Inc. (FRD) Latest News

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stockrow.com/FRD · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com