Friedman Industries Inc. (FRD)

From the record

Friedman Industries Inc.'s filings since 2017 show 13 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 2 times, the latest 2025-03-27); an auditor change (8-K item 4.01, 2 times, the latest 2025-06-24); a late-report notice (Form NT 10-K or NT 10-Q, 9 times, the latest 2023-06-29) (its current reports).

From the record

Friedman Industries Inc.'s 8 filed years say what it did: revenue went from $121 million in fiscal 2018 to $445 million in fiscal 2025, up 20.4% a year; it rose in 3 of 7 years; the deepest fall was 33% from fiscal 2019 to fiscal 2021; net income was positive in 7 of 8 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-03-31, Friedman Industries Inc.'s diluted share count grew about 1.6% a year, and dividends and buybacks returned about 12% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 11 purchases of their own stock on the open market in the year to 2026-11-03, buying about $123 thousand (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-03-31, Friedman Industries Inc. earned about 5 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 1 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 42 cents per dollar of assets, and net share issuance: its share count shrank 3.3% over the year (the filed statements).

From the record

Friedman Industries Inc.'s standing among 28 graded names in its industry family: revenue of $445 million in fiscal 2025 ranks in the bottom 25% by size; a net margin of 1.4% ranks in the bottom 39%; revenue growth of 15.9% a year over the last 3 filed years ranks in the top 9% (its annual reports).

From the record

Friedman Industries Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Taylor, Mike J (President / CEO / Director, as filed), filing under that title since 2020-02-24, 6.7 years (top 39% of its family); the 9 officers and directors filing in the last fifteen months have been on the record a median of 7.1 years (top 31%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 9 people in charge now (top 40%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Friedman Industries Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $4 million against no long-term debt tagged leaves 1.6% of its assets as net cash, top 35% of its family; cash from operations less capital spending is -1.9% of revenue (bottom 20%); a gross margin of 0.6% (bottom 2%) (its annual report).

From the record

Friedman Industries Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 15.9% a year over the last three filed years against 20.4% over all 8, slowing (bottom 34% of its family); the newest year grew -13.9% (bottom 13%); capital spending grew -20.8% a year (bottom 16%) (its annual reports). Friedman Industries Inc. reported 3 lines of business in fiscal 2025: Flatroll at $405 million, Coil at $40 million, Tubular at $40 million. 0 of 3 grew in the latest filed year, and the largest line is 84% of revenue (its annual report).

From the record

Friedman Industries Inc.'s newest year against its own record: revenue of $445 million in fiscal 2025 came in 36% below the $694 million its prior three years' pace pointed to (bottom 2% of its family); net income of $6 million against a prior three-year average of $18 million (bottom 39%); a net margin of 1.4% against 4.1% before (bottom 29%) (its annual reports).