FRIEDMAN INDUSTRIES INC FRD

Basic materials SIC 3310 - Steel Works, Blast Furnaces & Rolling & Finishing Mills NAICS Manufacturing › Primary Metal Manufacturing › Steel Product Manufacturing from Purchased Steel derived Nasdaq

Friedman Industries, Incorporated (the "Company"), a Texas corporation incorporated in 1965, is a manufacturer and processor of metals and operates in two reportable segments: flat-roll products and tubular products. Significant financial information relating to the Company's business segments for the last two years is contained in Note 12 of the Consolidated Financial Statements included in the Company's Annual Report to Shareholders for the fiscal year ended March 31, 2026, which financial statements are incorporated herein by reference in Item 8 hereof.

The flat-roll product segment consists of flat-roll processing facilities located in Hickman, Arkansas; Decatur, Alabama; Miami, Florida; East Chicago, Indiana; Granite City, Illinois and Sinton, Texas and a flat-roll distribution facility located in Orlando, Florida. The Hickman, Granite City and East Chicago facilities operate temper mills and cut-to-length lines. The Decatur and Sinton facilities operate stretcher leveler cut-to-length lines. The Miami facility operates a corrective leveling cut-to-length line and a coil slitting line. The processing equipment improves the quality of the material and cuts the material into sheet, plate or slit coil. On a combined basis, the facilities are capable of cutting sheet and plate with thicknesses ranging from 30 gauge to 1" thick in widths ranging from 11" wide to 96" wide. The flat-roll segment is able to produce slit coil with thickness ranging from 32 gauge to 10 gauge in widths ranging from 1/2" wide to 60" wide. The Granite City facility also operates a fiber laser which further processes flat-roll sheet and plate into customer parts. The vast majority of flat-roll product segment revenue is generated from sales of Company owned inventory but the segment also generates revenue from the processing or storage of customer owned material on a fee basis.

Last close 41.83 2026-10-23
Market cap $301.7M 2026-06-30 share count
52-week range 16.55 - 48.77

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS—

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Flat-roll - Prime Coil
  • Tubular - Manufactured Pipe
  • Flat-roll - Customer Owned
Revenue by segment, 3 categories over 1 years. The same figures are in the table below. FY2024 Flat-roll - Prime Coil, FY2024: 399.9M (89.9%) 90% Flat-roll - Prime Coil Tubular - Manufactured Pipe, FY2024: 40M (9.0%) 9% Flat-roll - Customer Owned, FY2024: 4.8M (1.1%)
Segment FY2024
Flat-roll - Prime Coil $399.9M
Tubular - Manufactured Pipe $40.0M
Flat-roll - Customer Owned $4.8M

As the company reported it, from the “Note 13 - Revenue - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue —$444.6M$516.3M$547.5M$285.2M$126.1M$142.1M$187.2M$121.2M$77.8M
Cost of revenue —$441.8M$491.7M$504.5M$244.2M$102.5M$139.5M$174.2M$111.2M$77.9M
Gross profit —$2.8M$24.5M$43.1M$41.0M$23.6M$2.6M$12.9M$9.9M-$191.6K
SG&A —$16.2M$21.0M$21.9M$12.5M$7.8M$5.1M$4.8M$4.2M$4.0M
Total operating expenses —$441.8M$491.7M$526.5M$256.7M$110.4M$149.0M$180.8M$115.4M$82.0M
Operating income —$3.0M$24.5M$21.1M$28.5M$15.7M-$6.9M$6.4M$5.7M-$4.2M
Interest expense —$3.0M$3.1M$2.2M$255.0K$24.6K$4.8K$17.5K$27.8K—
Pre-tax income —$7.7M$23.3M$28.2M$18.3M$15.2M-$6.8M$6.8M$5.8M-$4.2M
Income tax —$1.6M$6.0M$6.8M$4.3M$3.8M$1.6M$1.7M$1.8M$1.5M
Net income $19.5M$6.1M$17.3M$21.3M$14.1M$11.4M-$5.2M$5.1M$3.9M-$2.7M
EPS, basic —0.872.392.912.041.63-0.750.730.56-0.39
EPS, diluted —0.872.392.912.041.63-0.750.730.56-0.39
Shares, diluted (wtd. avg.) —6.9M7.2M7.2M6.6M6.7M7.0M7.0M7.0M6.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents —$3.7M$2.9M$3.0M$2.6M$8.2M$17.1M$11.7M$4.1M$1.5M
Receivables —$47.5M$47.3M$49.4M$35.7M$20.4M$11.7M$13.2M$17.5M$8.9M
Inventory —$113.7M$115.8M$86.2M$67.9M$36.0M$35.7M$49.1M$45.3M$34.9M
Total current assets —$166.5M$170.1M$143.7M$125.4M$77.5M$65.2M$74.5M$67.3M$45.4M
Property, plant and equipment —$56.3M$56.8M$53.9M$30.1M$15.5M$11.5M$11.9M$14.2M$15.2M
Total assets —$226.8M$230.0M$199.3M$159.3M$95.0M$77.3M$86.6M$81.7M$63.3M
Accounts payable —$35.3M$43.9M$36.8M$44.8M$15.2M$8.9M$11.6M$10.2M$2.0M
Total current liabilities —$38.3M$54.1M$45.1M$60.8M$29.1M$9.6M$12.4M$11.0M$2.4M
Total liabilities —$94.4M$102.5M$83.9M$79.6M$29.7M$10.5M$14.1M$13.1M$2.9M
Retained earnings —$101.3M$96.3M$79.7M$58.9M$45.4M$34.5M$40.5M$36.7M$28.8M
Total equity —$132.4M$127.5M$115.4M$79.7M$65.3M$66.9M$72.5M$68.6M$60.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow —-$4.4M$5.0M$63.9M-$13.4M$8.4M$11.2M$9.6M$3.2M-$202.7K
Depreciation and amortisation —$3.3M$3.1M$2.5M$1.3M$1.0M$1.5M$1.3M$1.4M$1.6M
Capital expenditure —$4.0M$5.8M$16.5M$8.1M$4.6M$4.9M$808.0K$349.2K$799.3K
Investing cash flow —-$3.4M-$5.8M-$88.2M-$7.9M-$4.6M-$5.0M-$825.9K-$374.1K-$858.3K
Financing cash flow —$6.1M$1.3M$13.6M$17.2M-$701.9K-$889.6K-$1.2M-$280.4K-$274.1K
Dividends paid —$1.1M$581.0K$589.0K$551.0K$564.2K$839.9K$1.2M$280.4K$274.1K
Buybacks —$171.0K$5.2M$37.0K$538.0K$1.7M————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-024581.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2016: 77.8M Gross profit, FY2016: -191.6K Net income, FY2016: -2.7M Revenue, FY2017: 121.2M Gross profit, FY2017: 9.9M Net income, FY2017: 3.9M Revenue, FY2018: 187.2M Gross profit, FY2018: 12.9M Net income, FY2018: 5.1M Revenue, FY2019: 142.1M Gross profit, FY2019: 2.6M Net income, FY2019: -5.2M Revenue, FY2020: 126.1M Gross profit, FY2020: 23.6M Net income, FY2020: 11.4M Revenue, FY2021: 285.2M Gross profit, FY2021: 41M Net income, FY2021: 14.1M Revenue, FY2022: 547.5M Gross profit, FY2022: 43.1M Net income, FY2022: 21.3M Revenue, FY2023: 516.3M Gross profit, FY2023: 24.5M Net income, FY2023: 17.3M Revenue, FY2024: 444.6M Gross profit, FY2024: 2.8M Net income, FY2024: 6.1M Net income, FY2025: 19.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $77.8M $121.2M $187.2M $142.1M $126.1M $285.2M $547.5M $516.3M $444.6M —
Gross profit -$191.6K $9.9M $12.9M $2.6M $23.6M $41.0M $43.1M $24.5M $2.8M —
Net income -$2.7M $3.9M $5.1M -$5.2M $11.4M $14.1M $21.3M $17.3M $6.1M $19.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • New debt or obligation Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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