Friedman Industries, Incorporated (FRD) Balance Sheet
FRD balance sheet, FY2026
March 31, 2026 · U.S. dollars$336.8M assets = $185.3M liabilities + $151.5M equity
Both columns are drawn to the same scale: what FRD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FRD financial health
Descriptive bands, not a rating. Fiscal FY2026.
FRD balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $63.3MFY2017 | $336.8MFY2026 | +20.4%/yr | |
| Total liabilities | $2.9MFY2017 | $185.3MFY2026 | +58.7%/yr | |
| Shareholders’ equity | $60.4MFY2017 | $151.5MFY2026 | +10.8%/yr | |
| Cash & short-term investments | $1.5MFY2017 | $2.5MFY2026 | +5.9%/yr | |
| Total debt | $0FY2017 | $100.9MFY2026 | — | |
| Net cash (debt) | $1.5MFY2017 | −$98.5MFY2026 | −$99.9M | |
| Working capital | $43.1MFY2017 | $180.9MFY2026 | +$137.8M | |
| Book value per share | $8.81FY2017 | $21.75FY2026 | +10.6%/yr | |
| Current ratio | 19.28FY2017 | 3.38FY2026 | −15.90 | |
| Debt / equity | 0.00FY2017 | 0.67FY2026 | +0.67 | |
| Shares outstanding | 6.9MFY2017 | 7.0MFY2026 | +0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FRD assets
FRD liabilities and equity
FRD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FRD balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.5M | $3.7M | $2.9M | $3.0M | $2.6M | $8.2M | $17.1M | $11.7M | $4.1M | $1.5M |
| Cash & equivalents | $2.5M | $3.7M | $2.9M | $3.0M | $2.6M | $8.2M | $17.1M | $11.7M | $4.1M | $1.5M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $80.7M | $47.5M | $47.3M | $49.4M | $35.7M | $20.4M | $11.7M | $13.2M | $17.5M | $8.9M |
| Inventory | $172.2M | $113.7M | $115.8M | $86.2M | $67.9M | $36.0M | $35.7M | $49.1M | $38.0M | $34.9M |
| Other current assets | $1.7M | $1.6M | $4.0M | $5.1M | $19.1M | $12.9M | $780,179 | $543,549 | $429,101 | $113,540 |
| Total current assets | $257.0M | $166.5M | $170.1M | $143.7M | $125.4M | $77.5M | $65.2M | $74.5M | $60.0M | $45.4M |
| Property, plant & equipment (net) | $78.3M | $59.1M | $59.6M | $55.2M | $30.1M | $15.5M | $11.6M | $11.9M | $14.2M | $15.2M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.5M | $1.3M | $356,000 | $452,000 | $3.8M | $2.0M | $950,422 | $235,817 | $217,901 | $2.7M |
| Total assets | $336.8M | $226.8M | $230.0M | $199.3M | $159.3M | $95.0M | $77.7M | $86.6M | $74.4M | $63.3M |
| Liabilities | ||||||||||
| Accounts payable | $67.2M | $35.1M | $41.5M | $36.8M | $44.6M | $15.2M | $8.9M | $11.6M | $10.2M | $2.0M |
| Short-term debt | $756,000 | $160,000 | $54,000 | $107,000 | $157,000 | $1.6M | $148,159 | $0 | $0 | $0 |
| Deferred revenue | — | — | $2.5M | $5.9M | — | $4.3M | — | — | — | — |
| Total current liabilities | $76.1M | $38.3M | $54.1M | $45.1M | $60.8M | $29.1M | $9.6M | $12.4M | $11.0M | $2.4M |
| Long-term debt | $96.1M | $47.7M | $40.3M | $33.2M | $160,870 | $171,975 | $368,250 | $0 | $0 | $0 |
| Lease obligations | $4.1M | $2.8M | $2.8M | $107,000 | $104,689 | $102,689 | $100,728 | — | — | — |
| Other long-term liabilities | $13.1M | $8.3M | $8.1M | $5.6M | $18.6M | $424,588 | $835,054 | $1.8M | $278,254 | $550,282 |
| Total liabilities | $185.3M | $94.4M | $102.5M | $83.9M | $79.6M | $29.7M | $10.8M | $14.1M | $11.3M | $2.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $9.0M | $8.9M | $8.9M | $8.9M | $8.3M | $8.3M | $8.3M | $8.2M | $8.2M | $8.2M |
| Retained earnings (deficit) | $119.7M | $101.3M | $96.3M | $79.7M | $58.9M | $45.4M | $34.5M | $40.5M | $31.2M | $28.8M |
| Treasury stock | — | — | — | — | — | −$7.2M | −$5.5M | −$5.5M | −$5.5M | −$5.5M |
| Accumulated other comprehensive income | — | $0 | $0 | −$317,000 | −$10.3M | −$11.2M | $0 | −$36.5M | −$35.3M | −$33.9M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $151.5M | $132.4M | $127.5M | $115.4M | $79.7M | $65.3M | $66.9M | $72.5M | $63.1M | $60.4M |
| Key figures | ||||||||||
| Total debt | $100.9M | $50.6M | $43.1M | $33.3M | $18.8M | $2.1M | $520,511 | $0 | $0 | $0 |
| Net cash (debt) | −$98.5M | −$47.0M | −$40.2M | −$30.3M | −$16.2M | $6.1M | $16.5M | $11.7M | $4.1M | $1.5M |
| Working capital | $180.9M | $128.1M | $116.0M | $98.6M | $64.6M | $48.5M | $55.6M | $62.1M | $48.9M | $43.1M |
| Tangible book value | $151.5M | $132.4M | $127.5M | $115.4M | $79.7M | $65.3M | $66.9M | $72.5M | $63.1M | $60.4M |
| Book value per share | $21.75 | $19.07 | $17.75 | $16.00 | $12.03 | $9.30 | $9.55 | $10.34 | $9.00 | $8.81 |
| Shares outstanding | 7.0M | 6.9M | 7.2M | 7.2M | 6.6M | 7.0M | 7.0M | 7.0M | 7.0M | 6.9M |
| Current ratio | 3.38 | 4.34 | 3.14 | 3.19 | 2.06 | 2.67 | 6.76 | 6.02 | 5.44 | 19.28 |
| Quick ratio | 1.09 | 1.33 | 0.93 | 1.16 | 0.63 | 0.98 | 2.98 | 2.01 | 1.95 | 4.41 |
| Debt / equity | 0.67 | 0.38 | 0.34 | 0.29 | 0.24 | 0.03 | 0.01 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 45.0% | 58.4% | 55.4% | 57.9% | 50.0% | 68.8% | 86.0% | 83.7% | 84.8% | 95.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $5.0M | $2.5M | $3.0M | $4.6M | $2.1M | $3.7M | $1.1M | $2.5M | $4.1M | $2.9M | $4.0M | $3.2M |
| Cash & equivalents | $5.0M | $2.5M | $3.0M | $4.6M | $2.1M | $3.7M | $1.1M | $2.5M | $4.1M | $2.9M | $4.0M | $3.2M |
| Receivables | $90.7M | $80.7M | $55.8M | $62.3M | $50.7M | $47.5M | $31.7M | $39.6M | $37.8M | $47.3M | $44.4M | $52.3M |
| Inventory | $191.1M | $172.2M | $169.2M | $161.6M | $103.5M | $113.7M | $115.4M | $105.1M | $119.8M | $115.8M | $113.9M | $104.5M |
| Other current assets | $4.3M | $1.7M | $3.5M | $2.9M | $1.7M | $1.6M | $1.1M | $900,000 | $713,000 | $4.0M | $8.6M | $5.2M |
| Total current assets | $291.1M | $257.0M | $231.5M | $231.3M | $157.9M | $166.5M | $149.3M | $148.0M | $162.4M | $170.1M | $170.9M | $165.2M |
| Property, plant & equipment (net) | $80.9M | $78.3M | $4.9M | $78.3M | $60.0M | $59.1M | $59.7M | $59.8M | $60.0M | $59.6M | $57.7M | $56.6M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.4M | $1.5M | $75.5M | $1.7M | $1.2M | $1.3M | $1.3M | $1.3M | $333,000 | $356,000 | $377,000 | $411,000 |
| Total assets | $373.4M | $336.8M | $311.9M | $311.3M | $219.1M | $226.8M | $210.3M | $209.2M | $222.8M | $230.0M | $229.0M | $222.1M |
| Liabilities | ||||||||||||
| Accounts payable | $87.0M | $67.2M | $59.1M | $67.1M | $35.1M | $35.1M | $40.9M | $34.5M | $34.4M | $43.9M | $47.9M | $29.4M |
| Short-term debt | $1.2M | $756,000 | $753,000 | $750,000 | $164,000 | $160,000 | $157,000 | $153,000 | $27,000 | $54,000 | $81,000 | $108,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | $3.1M | $2.5M | $2.3M | $5.4M |
| Total current liabilities | $100.3M | $76.1M | $64.4M | $71.4M | $40.5M | $38.3M | $42.3M | $36.4M | $38.8M | $54.1M | $54.6M | $35.3M |
| Long-term debt | $95.0M | $96.1M | $92.1M | $87.0M | $33.0M | $47.7M | $32.5M | $35.9M | $46.1M | $40.3M | $46.0M | $54.4M |
| Lease obligations | $5.1M | $4.1M | $4.3M | $4.5M | $2.7M | $2.8M | $2.8M | $2.8M | $2.9M | $2.8M | $1.2M | $1.2M |
| Other long-term liabilities | $14.0M | $13.1M | $13.1M | $13.6M | $8.3M | $8.3M | $8.1M | $8.2M | $8.2M | $8.1M | $5.6M | $5.7M |
| Total liabilities | $209.3M | $185.3M | $169.6M | $172.0M | $81.8M | $94.4M | $82.9M | $80.4M | $93.1M | $102.5M | $106.2M | $95.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $9.1M | $9.0M | $9.0M | $9.0M | $9.0M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M |
| Retained earnings (deficit) | $132.1M | $119.7M | $110.7M | $108.0M | $106.0M | $101.3M | $96.2M | $97.6M | $98.6M | $96.3M | $91.6M | $90.6M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $164.2M | $151.5M | $142.2M | $139.3M | $137.3M | $132.4M | $127.3M | $128.8M | $129.7M | $127.5M | $122.7M | $126.8M |
| Key figures | ||||||||||||
| Total debt | $101.3M | $100.9M | $97.1M | $92.2M | $35.9M | $50.6M | $35.5M | $38.8M | $49.0M | $43.1M | $47.2M | $55.6M |
| Net cash (debt) | −$96.3M | −$98.5M | −$94.1M | −$87.7M | −$33.8M | −$47.0M | −$34.4M | −$36.4M | −$44.8M | −$40.2M | −$43.2M | −$52.5M |
| Working capital | $190.8M | $180.9M | $167.1M | $159.9M | $117.5M | $128.1M | $107.0M | $111.7M | $123.6M | $116.0M | $116.3M | $129.9M |
| Tangible book value | $164.2M | $151.5M | $142.2M | $139.3M | $137.3M | $132.4M | $127.3M | $128.8M | $129.7M | $127.5M | $122.7M | $126.8M |
| Book value per share | $23.51 | $21.75 | $20.42 | $19.99 | $19.71 | $18.83 | $18.33 | $18.56 | $18.69 | $18.27 | $16.94 | $17.40 |
| Shares outstanding | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 6.9M | 6.9M | 6.9M | 7.0M | 7.2M | 7.3M |
| Current ratio | 2.90 | 3.38 | 3.59 | 3.24 | 3.90 | 4.34 | 3.53 | 4.07 | 4.19 | 3.14 | 3.13 | 4.68 |
| Quick ratio | 0.95 | 1.09 | 0.91 | 0.94 | 1.30 | 1.33 | 0.78 | 1.16 | 1.08 | 0.93 | 0.89 | 1.57 |
| Debt / equity | 0.62 | 0.67 | 0.68 | 0.66 | 0.26 | 0.38 | 0.28 | 0.30 | 0.38 | 0.34 | 0.38 | 0.44 |
| Equity / assets | 44.0% | 45.0% | 45.6% | 44.7% | 62.7% | 58.4% | 60.6% | 61.6% | 58.2% | 55.4% | 53.6% | 57.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 11, 2026); data from EODHD.
FRD financial position
At the end of fiscal 2026 (March 31, 2026), Friedman Industries had total assets of $336.8 million (up 48.5% from a year earlier), total liabilities of $185.3 million and shareholders' equity of $151.5 million. It held $2.5 million in cash and short-term investments against $100.9 million of debt, net debt of $98.5 million. Its current ratio was 3.38. In the latest quarter (ended June 30, 2026) total assets were $373.4 million and equity $164.2 million.
Related: FRD income statement, FRD cash flow statement, FRD key metrics. See the FRD stock overview for the latest quote and news.
FRD balance sheet FAQ
What are Friedman Industries's total assets?
Friedman Industries reported total assets of $336.8 million at the end of fiscal 2026 (March 31, 2026), compared with $226.8 million a year earlier.
How much debt does Friedman Industries have?
Friedman Industries had $100.9 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.67.
How much cash does Friedman Industries have?
Friedman Industries held $2.5 million in cash and short-term investments at the end of fiscal 2026; with $100.9 million of debt that is net debt of $98.5 million.
What is Friedman Industries's book value?
Friedman Industries's shareholders' equity (book value) was $151.5 million at the end of fiscal 2026, or $21.75 per share.
What is Friedman Industries's current ratio?
Friedman Industries had current assets of $257.0 million and current liabilities of $76.1 million, a current ratio of 3.38 (it can cover its short-term obligations).