Friedman Industries, Incorporated (FRD) Income Statement
FRD FY2026 at a glance
Fiscal year ended March 31, 2026 · U.S. dollarsFRD revenue and net income
Where FRD's revenue goes
FY2026Each bar shows an amount and its share of revenue. FRD kept 3.0% of revenue as net income.
FRD profit margins
FRD growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +45.5% | +5.7% | +38.7% | +23.0% |
| Gross profit | +90.2% | +7.3% | +29.7% | +33.8% |
| Operating income | +821.0% | +6.8% | +10.3% | +101.4% |
| Net income | +221.0% | −2.9% | +11.3% | +52.1% |
| EPS (diluted) | +221.2% | −8.9% | +8.9% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FRD quarterly EPS vs estimates
Friedman Industries beat the analyst EPS estimate in 2 of the last 2 quarters. Next report: November 9, 2026.
FRD income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $646.9M | $444.6M | $516.3M | $547.5M | $285.2M | $126.1M | $142.1M | $187.2M | $121.2M | $77.8M |
| Cost of revenue | $560.4M | $399.1M | $443.8M | $477.6M | $244.2M | $102.5M | $139.5M | $174.2M | $112.9M | $77.9M |
| Gross profit | $86.5M | $45.5M | $72.4M | $70.0M | $41.0M | $23.6M | $2.6M | $12.9M | $8.3M | −$191,622 |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $28.6M | $21.0M | $44.8M | $46.4M | $12.5M | $7.8M | $5.1M | $4.8M | $4.2M | $4.0M |
| Total operating expenses | $60.8M | $42.7M | $47.9M | $48.9M | $12.5M | $7.9M | $9.5M | $180.3M | $4.2M | $4.0M |
| Operating income | $25.7M | $2.8M | $24.5M | $21.1M | $28.5M | $15.7M | −$6.9M | $6.4M | $4.0M | −$4.2M |
| Interest income | — | — | — | $7.1M | $11.6M | $503,420 | $19,260 | $440,503 | $24,900 | $59,005 |
| Interest expense | $4.1M | $3.0M | $3.1M | $2.2M | $255,000 | $24,619 | $4,806 | $17,546 | $27,846 | $0 |
| Income before taxes | $26.4M | $7.7M | $23.3M | $28.2M | $18.3M | $15.2M | −$6.8M | $6.8M | $4.1M | −$4.2M |
| Income taxes | $6.8M | $1.6M | $6.0M | $6.8M | $4.3M | $3.8M | −$1.6M | $1.7M | $1.3M | −$1.5M |
| Net income | $19.5M | $6.1M | $17.3M | $21.3M | $14.1M | $11.4M | −$5.2M | $5.1M | $2.8M | −$2.7M |
| EBITDA | $34.3M | $13.9M | $29.5M | $32.9M | $19.9M | $16.8M | −$989,276 | $8.2M | $7.1M | −$2.6M |
| EPS (diluted) | $2.73 | $0.85 | $2.18 | $3.61 | $1.93 | $1.78 | −$0.75 | $0.72 | $0.30 | −$0.13 |
| Gross margin | 13.4% | 10.2% | 14.0% | 12.8% | 14.4% | 18.7% | 1.8% | 6.9% | 6.8% | −0.2% |
| Operating margin | 4.0% | 0.6% | 4.7% | 3.8% | 10.0% | 12.5% | −4.8% | 3.4% | 3.3% | −5.4% |
| Net margin | 3.0% | 1.4% | 3.4% | 3.9% | 4.9% | 9.1% | −3.7% | 2.7% | 2.3% | −3.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $240.0M | $191.8M | $168.0M | $152.4M | $134.8M | $129.2M | $94.1M | $106.8M | $114.6M | $132.2M | $116.0M | $130.7M |
| Cost of revenue | $197.6M | $170.2M | $148.7M | $135.1M | $115.0M | $111.9M | $86.0M | $96.6M | $104.6M | $92.4M | $105.5M | $117.7M |
| Gross profit | $42.3M | $21.6M | $19.3M | $17.2M | $19.7M | $17.3M | $8.1M | $10.1M | $10.0M | $39.8M | $10.4M | $13.1M |
| Sales, general & admin | $20.2M | $8.4M | $7.2M | $6.3M | $11.9M | $3.8M | $3.9M | $9.3M | $10.6M | $29.8M | $4.3M | $4.7M |
| Total operating expenses | $21.3M | $9.7M | $15.4M | $14.4M | $12.7M | $11.5M | $9.7M | $10.4M | $11.4M | $32.9M | $4.3M | $12.0M |
| Operating income | $21.0M | $11.8M | $3.9M | $2.9M | $7.0M | $5.7M | −$1.6M | −$224,000 | −$1.4M | $6.9M | $6.2M | $1.1M |
| Interest expense | $1.2M | $1.4M | $1.3M | $754,000 | $678,000 | $771,000 | $632,000 | $869,000 | $681,000 | $937,000 | $790,000 | $805,000 |
| Income before taxes | $17.0M | $12.7M | $4.0M | $3.0M | $6.6M | $6.8M | −$1.6M | −$902,000 | $3.3M | $7.1M | $1.3M | $4.7M |
| Income taxes | $4.2M | $3.5M | $961,000 | $737,000 | $1.6M | $1.5M | −$400,000 | −$227,000 | $732,000 | $2.2M | $74,000 | $1.1M |
| Net income | $12.5M | $9.2M | $3.0M | $2.2M | $5.0M | $5.3M | −$1.2M | −$675,000 | $2.6M | $5.0M | $1.2M | $3.5M |
| EBITDA | $19.3M | $15.2M | $6.3M | $4.7M | $8.2M | $8.5M | −$82,000 | $821,000 | $4.8M | $8.9M | $2.8M | $6.2M |
| EPS (diluted) | $1.79 | $1.27 | $0.43 | $0.32 | $0.71 | $0.75 | −$0.17 | −$0.10 | $0.37 | $0.70 | $0.16 | $0.48 |
| Gross margin | 17.6% | 11.2% | 11.5% | 11.3% | 14.7% | 13.4% | 8.6% | 9.5% | 8.7% | 30.1% | 9.0% | 10.0% |
| Operating margin | 8.8% | 6.2% | 2.3% | 1.9% | 5.2% | 4.4% | −1.7% | −0.2% | −1.2% | 5.2% | 5.3% | 0.8% |
| Net margin | 5.2% | 4.8% | 1.8% | 1.5% | 3.7% | 4.1% | −1.2% | −0.6% | 2.2% | 3.7% | 1.0% | 2.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FRD's financial statements (latest annual report filed June 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FRD financial results
In fiscal year 2026 (ended March 31, 2026), Friedman Industries reported revenue of $646.9 million, up 45.5% from the year before. It had net income of $19.5 million (up 221.0%), a net profit margin of 3.0%. Diluted earnings per share came to $2.73. Over five years revenue grew at an average rate of 38.7% a year.
See the FRD stock overview for the latest quote and news, or the FRD chart for price history and technical indicators.
FRD income statement FAQ
What is Friedman Industries's annual revenue?
Friedman Industries reported total revenue of $646.9 million for fiscal year 2026, which ended on March 31, 2026. That was up 45.5% from $444.6 million the previous year.
Is Friedman Industries profitable?
Yes. Friedman Industries reported net income of $19.5 million in fiscal 2026, a net profit margin of 3.0%; its operating margin was 4.0%.
What is Friedman Industries's gross margin?
Friedman Industries's gross margin was 13.4% in fiscal 2026: for every $100 of revenue, Friedman Industries kept $13 after the direct cost of its products and services.
How fast is Friedman Industries growing?
Revenue grew 38.7% a year on average over the last five fiscal years, from $126.1 million to $646.9 million.
What are Friedman Industries's earnings per share?
Friedman Industries earned $2.73 per diluted share in fiscal 2026, compared with $0.85 a year earlier.
When will Friedman Industries report its next earnings?
Friedman Industries is expected to report results for the quarter ending September 30, 2026 on November 9, 2026.
When does Friedman Industries's fiscal year end?
Friedman Industries's fiscal year ends in March. The latest annual report covers the year ended March 31, 2026 and was filed on June 11, 2026.