FRD
Friedman Industries, Incorporated
FRD's fundamentals are strong: revenue grew 74% and its operating margin rose 5 points to 8.3%. At 6.7x earnings, it's trading below its usual 8.3x.
FRD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Under pressure | |
| Healthy |
FRD's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
FRD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.9x | $22.07 | -42% |
| Current | 6.7x | $38.16 | — |
| Fair | 8.2x | $47.04 | +23% |
| Expensive | 15x | $86.03 | +125% |
Historical ranges are pointers, not guarantees.
FRD's PE is in its fair range at 6.7x.
FRD Forward outlook
There aren't enough analyst estimates for FRD to show an outlook.
FRD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $5.71 | +250% |
| Q2 2026 | $3.84 | +217% |
| Q1 2026 | $2.76 | +217% |
| Q4 2025 | $2.23 | +175% |
| Q3 2025 | $1.63 | +43% |
| Q2 2025 | $1.21 | -30% |
| Q1 2025 | $0.87 | -64% |
| Q4 2024 | $0.81 | -68% |
FRD's earnings per share have jumped to their highest in seven years: $5.71 over the past year, up from $1.63 the year before.
FRD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $286.8M | +88% |
| Q2 2026 | $240M | +78% |
| Q1 2026 | $191.8M | +48% |
| Q4 2025 | $168M | +79% |
| Q3 2025 | $152.4M | +43% |
| Q2 2025 | $134.8M | +18% |
| Q1 2025 | $129.2M | -2.3% |
| Q4 2024 | $94.1M | -19% |
FRD's revenue has grown year over year for six quarters in a row: $287M last quarter, up 88% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | +11 points |
| Q2 2026 | 8.8% | +3.5 points |
| Q1 2026 | 6.2% | +1.6 points |
| Q4 2025 | 2.3% | +3.6 points |
| Q3 2025 | 1.9% | +2.1 points |
| Q2 2025 | 5.2% | +6.5 points |
| Q1 2025 | 4.5% | -0.7 points |
| Q4 2024 | -1.3% | -6.6 points |
FRD's operating margin was 13% last quarter, up 11 points from the same quarter a year ago.
FRD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.4M | +$4.4M |
| Q2 2026 | $5.1M | -63% |
| Q1 2026 | -$4M | +$8.8M |
| Q4 2025 | -$6.3M | -509% |
| Q3 2025 | -$2M | -120% |
| Q2 2025 | $13.7M | +$20.8M |
| Q1 2025 | -$12.8M | -534% |
| Q4 2024 | $1.6M | -92% |
FRD's free cash flow was −$3M over the past year, against $449,000 the year before.
FRD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.2% | +17.1K shares |
| 3 years | -4.2% | -306K shares |
| 5 years | +1.2% | +79.5K shares |
| Available history | -0.2% | -16.5K shares |
FRD has 7M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $82,000 |
| Q1 2026 | — |
| Q4 2025 | $1,000 |
| Q3 2025 | $1,000 |
| Q2 2025 | $10,000 |
| Q1 2025 | — |
| Q4 2024 | $37,000 |
FRD has spent almost nothing on buybacks in the past year.
FRD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 2.0x | Healthy |
| Q1 2026 | 3.1x | Elevated |
| Q4 2025 | 3.8x | Elevated |
| Q3 2025 | 4.6x | High |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 7.0x | High |
| Q4 2024 | 4.3x | High |
FRD's net debt is about 1.3 years of its operating earnings (EBITDA), down from 4.6 years a year ago.
FRD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.2 | Neutral |
| Stochastic | 33.8 | Neutral |
FRD's weekly RSI is 53 (neutral) and its Stochastic is 34 (neutral).
FRD PE vs Basic Materials Sector
| Metric | FRD | Sector median | Relative |
|---|---|---|---|
| PE | 6.7x | 19x | 64% below |
| PE % | 36 | 40 | 4 pts below |
FRD is trading at 6.7x earnings, a 64% discount to the Basic Materials sector's median of 19x.
FRD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.1 | 4.9% below |
| 20 week MA | $39.9 | 4.3% below |
| 50 week MA | $28.8 | 33% above |
| 100 week MA | $23.1 | 65% above |
| 200 week MA | $18.8 | 103% above |
FRD has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 103% above its 200-week average.
FRD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.07 | $6.80 | +12% |
| 2021 | $6.80 | $9.47 | +39% |
| 2022 | $9.47 | $9.95 | +5.1% |
| 2023 | $9.95 | $15.5 | +55% |
| 2024 | $15.5 | $15.6 | +0.7% |
| 2025 | $15.6 | $20.7 | +33% |
| 2026 YTD | $20.7 | $38.2 | +85% |
FRD has finished every year since 2020 higher, and it's up 85% so far in 2026.