Friedman Industries (FRD) financial statements
Friedman Industries reported revenue of $445M in fiscal 2025, up 20.7% a year over 9 years.
Net income was $6M and the operating margin 0.7%, against 0.0% in 2016.
Free cash flow was -$8M, and the company returned $1M in dividends and $171,000 in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Friedman Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82M | $78M | $121M | $187M | $142M | $126M | $285M | $548M | $516M | $445M |
| Cost of revenue | $77M | $78M | $111M | $174M | $139M | $103M | $244M | $504M | $492M | $442M |
| Gross profit | $5M | -$191,622 | $10M | $13M | $3M | $24M | $41M | $43M | $25M | $3M |
| Selling, general and admin | $5M | $4M | $4M | $5M | $5M | $8M | $12M | $22M | $21M | $16M |
| Operating income | $23,371 | -$4M | $6M | $6M | -$7M | $16M | $29M | $21M | $25M | $3M |
| Interest expense | — | — | $27,846 | $17,546 | $4,806 | $24,619 | $255,000 | $2M | $3M | $3M |
| Pre-tax income | $398,681 | -$4M | $6M | $7M | -$7M | $15M | $18M | $28M | $23M | $8M |
| Income tax | $104,681 | -$1M | $2M | $2M | -$2M | $4M | $4M | $7M | $6M | $2M |
| Net income | $294,000 | -$3M | $4M | $5M | -$5M | $11M | $14M | $21M | $17M | $6M |
| EPS (diluted) | $0.04 | -$0.39 | $0.56 | $0.73 | -$0.75 | $1.63 | $2.04 | $2.91 | $2.39 | $0.87 |
| Diluted shares | 7M | 7M | 7M | 7M | 7M | 7M | 7M | 7M | 7M | 7M |
| Gross margin | 5.7% | -0.2% | 8.2% | 6.9% | 1.8% | 18.7% | 14.4% | 7.9% | 4.7% | 0.6% |
| Operating margin | 0.0% | -5.4% | 4.7% | 3.4% | -4.8% | 12.5% | 10.0% | 3.8% | 4.7% | 0.7% |
| Net margin | 0.4% | -3.4% | 3.2% | 2.7% | -3.7% | 9.1% | 4.9% | 3.9% | 3.4% | 1.4% |
Balance sheet
Fiscal years, from Friedman Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $3M | $1M | $4M | $12M | $17M | $8M | $3M | $3M | $3M | $4M |
| Receivables | $5M | $9M | $13M | $13M | $12M | $20M | $36M | $49M | $47M | $47M |
| Inventory | $42M | $35M | $49M | $49M | $36M | $36M | $68M | $86M | $116M | $114M |
| Total current assets | $50M | $45M | $74M | $74M | $65M | $78M | $125M | $144M | $170M | $166M |
| Property, plant and equipment | $16M | $15M | $12M | $12M | $12M | $15M | $30M | $54M | $57M | $56M |
| Total assets | $67M | $63M | $87M | $87M | $77M | $95M | $159M | $199M | $230M | $227M |
| Total current liabilities | $3M | $2M | $12M | $12M | $10M | $29M | $61M | $45M | $54M | $38M |
| Total liabilities | $4M | $3M | $14M | $14M | $10M | $30M | $80M | $84M | $103M | $94M |
| Shareholders' equity | $63M | $60M | $72M | $72M | $67M | $65M | $80M | $115M | $127M | $132M |
| Net debt | -$3M | -$1M | -$4M | -$12M | -$17M | -$8M | -$3M | -$3M | -$3M | -$4M |
Cash flow
Fiscal years, from Friedman Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3M | -$202,658 | $3M | $10M | $11M | $8M | -$13M | $64M | $5M | -$4M |
| Capital spending | $2M | $799,331 | $349,184 | $807,989 | $5M | $5M | $8M | $16M | $6M | $4M |
| Free cash flow | $901,816 | -$1M | $3M | $9M | $6M | $4M | -$21M | $47M | -$813,000 | -$8M |
| Stock-based compensation | $0 | — | — | — | — | — | — | — | — | — |
| Dividends paid | $271,978 | $274,078 | $280,378 | $1M | $839,933 | $564,190 | $551,000 | $589,000 | $581,000 | $1M |
| Share buybacks (net) | — | — | — | — | — | -$2M | -$538,000 | -$37,000 | -$5M | -$171,000 |
| Free cash flow margin | 1.1% | -1.3% | 2.4% | 4.7% | 4.4% | 3.0% | -7.5% | 8.7% | -0.2% | -1.9% |
| Dividends per share | $0.04 | $0.04 | $0.04 | $0.17 | $0.12 | $0.08 | $0.08 | $0.08 | $0.08 | $0.16 |
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Open FRD in InvestinglyQuestions
What was Friedman Industries's revenue in 2025?
$445M in fiscal 2025, from its 10-K filing.
How much free cash flow does Friedman Industries generate?
-$8M in fiscal 2025 (operating cash flow minus capital spending).
From Friedman Industries's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.