# FRIEDMAN INDUSTRIES INC (FRD) · Edgar & Edgarette company card

> Friedman Industries (FRD) saw revenue fall 13.9% in FY2025 to $445 million, operating margin 0.7% against a 6.8% median for steel works, blast furnaces & rolling & finishing mills, equity 58.4% of assets, and dividend per share up 2 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 39092 · fiscal year ended 2025-03-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/FRD) · [JSON](https://www.pops4.com/boards/company/FRD.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $445M |
| Revenue growth, 1 year | -13.9% |
| Revenue growth per year | 37.0% |
| Operating margin | 0.7% (prior year 4.7%) |
| Net margin | 1.4% |
| Operating cash flow | −$4M |
| Capital spending | $4M |
| Free cash flow | −$8M |
| Cash | $4M |
| Long-term debt | — |
| Total assets | $227M |
| Total equity | $132M |
| Equity ÷ assets | 58.4% |
| Return on equity | 4.6% |
| Dividend per share | $0.16 |
| Dividend years rising | 2 |

## Readings, computed from those figures

- Altman Z: 6.72 (safe zone)
- Piotroski F: 4 of 9 (middling)
- Beneish M: 1.46 (above the −1.78 line)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative; revenue is hard to predict: its 80% range is ±52%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $444.6M (FY2025). Experience: revenue down 13.9% on the year, up 37.0% a year over 4 years; operating margin 0.7%, down from 4.7%. Soundness: equity 58.4% of assets, return on equity 4.6%, payout 18.3% of profit, dividend per share up 2 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $248.6M and $793.0M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $185.4M to $1.1B. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, its industry group): operating margin 0.7% against a 6.8% median; growth -13.9% against 5.7%.

## Health Watch, last 12 months

No warning filings in the window.

## Recent filings

- 8-K · filed 2026-09-28 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/39092/000143774926031305/0001437749-26-031305-index.htm)
- 8-K · filed 2026-09-10 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation · [filing](https://www.sec.gov/Archives/edgar/data/39092/000143774926030072/0001437749-26-030072-index.htm)
- 8-K · filed 2026-08-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/39092/000143774926026319/0001437749-26-026319-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/39092/000143774926026305/0001437749-26-026305-index.htm)
- DEF 14A · filed 2026-07-28 · [filing](https://www.sec.gov/Archives/edgar/data/39092/000143774926024581/0001437749-26-024581-index.htm)
- 8-K · filed 2026-06-11 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/39092/000143774926020332/0001437749-26-020332-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000039092.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=39092

## Cite

POPS4, Edgar & Edgarette: FRIEDMAN INDUSTRIES INC (FRD) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/FRD. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.