Friedman Industries, Incorporated (FRD) Key Metrics
FRD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $292.0M
- Enterprise value
- $379.4M
- P/E (TTM)
- 10.5 10-yr median 7.0
- Forward P/E
- 14.4
- PEG ratio
- —
- Price / sales
- 0.4 10-yr median 0.2
- Price / book
- 1.7 10-yr median 0.7
- EV / EBITDA
- 8.4 10-yr median 5.2
- Dividend yield
- 0.40% $0.16 a year
- Beta
- 1.65
FRD key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsFRD valuation Price multiples at each fiscal year-end price.
FRD returns How much profit the business earns on the capital it uses.
FRD per-share figures Results divided by the shares outstanding at year-end.
FRD financial health Debt, liquidity and how easily interest is covered.
FRD efficiency & capital use Working capital cycle and where the cash goes.
FRD valuation history
FRD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FRD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FRD cash returned to shareholders
FRD price vs earnings per share
FRD key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $123.4M | $103.4M | $134.6M | $81.8M | $58.4M | $56.9M | $30.9M | $53.8M | $41.1M | $44.2M |
| Enterprise value | $221.9M | $150.4M | $174.9M | $112.1M | $74.6M | $50.7M | $14.3M | $42.1M | $37.1M | $42.7M |
| P/E ratio | 6.3 | 17.0 | 7.8 | 3.8 | 4.1 | 5.0 | — | 10.5 | 14.9 | — |
| Price / sales | 0.2 | 0.2 | 0.3 | 0.1 | 0.2 | 0.5 | 0.2 | 0.3 | 0.3 | 0.6 |
| Price / book | 0.8 | 0.8 | 1.1 | 0.7 | 0.7 | 0.9 | 0.5 | 0.7 | 0.7 | 0.7 |
| Price / free cash flow | 89.5 | — | — | 1.7 | — | 14.9 | 4.9 | 6.1 | 14.2 | — |
| Price / operating cash flow | 14.5 | — | 27.0 | 1.3 | — | 6.7 | 2.7 | 5.6 | 12.7 | — |
| EV / sales | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.4 | 0.1 | 0.2 | 0.3 | 0.5 |
| EV / EBITDA | 6.5 | 10.8 | 5.9 | 3.4 | 3.7 | 3.0 | — | 5.1 | 5.2 | — |
| EV / free cash flow | 160.9 | — | — | 2.4 | — | 13.3 | 2.3 | 4.8 | 12.8 | — |
| Earnings yield | 15.8% | 5.9% | 12.9% | 26.1% | 24.1% | 20.1% | −17.0% | 9.5% | 6.7% | −6.1% |
| Free cash flow yield | 1.1% | −9.1% | −0.6% | 58.0% | −36.8% | 6.7% | 20.4% | 16.4% | 7.0% | −2.3% |
| Dividend yield | 0.9% | 1.1% | 0.4% | 0.7% | 0.9% | 1.0% | 2.7% | 2.2% | 0.7% | 0.6% |
| Shareholder yield (dividends + buybacks) | 0.9% | 1.2% | 4.3% | 0.8% | 1.9% | 4.0% | 2.7% | 2.2% | 0.7% | 0.6% |
| Share price at fiscal year-end | $17.72 | $14.89 | $18.74 | $11.34 | $8.81 | $8.09 | $4.41 | $7.67 | $5.87 | $6.45 |
| Per share | ||||||||||
| Revenue per share | $92.87 | $64.02 | $71.86 | $75.88 | $43.06 | $17.94 | $20.30 | $26.70 | $17.28 | $11.35 |
| Earnings per share | $2.80 | $0.88 | $2.41 | $2.96 | $2.12 | $1.63 | −$0.75 | $0.73 | $0.39 | −$0.39 |
| Operating cash flow per share | $1.23 | −$0.64 | $0.69 | $8.85 | −$2.02 | $1.20 | $1.60 | $1.37 | $0.46 | −$0.03 |
| Free cash flow per share | $0.20 | −$1.36 | −$0.11 | $6.57 | −$3.24 | $0.54 | $0.90 | $1.26 | $0.41 | −$0.15 |
| Cash per share | $0.35 | $0.53 | $0.40 | $0.41 | $0.39 | $1.17 | $2.44 | $1.66 | $0.58 | $0.21 |
| Book value per share | $21.75 | $19.07 | $17.75 | $16.00 | $12.03 | $9.30 | $9.55 | $10.34 | $9.00 | $8.81 |
| Tangible book value per share | $21.75 | $19.07 | $17.75 | $16.00 | $12.03 | $9.30 | $9.55 | $10.34 | $9.00 | $8.81 |
| Dividends per share | $0.16 | $0.16 | $0.08 | $0.08 | $0.08 | $0.08 | $0.12 | $0.17 | $0.04 | $0.04 |
| Capex per share | $1.03 | $0.72 | $0.81 | $2.28 | $1.22 | $0.66 | $0.71 | $0.12 | $0.05 | $0.12 |
| Debt per share | $14.49 | $7.29 | $6.00 | $4.61 | $2.84 | $0.29 | $0.07 | $0.00 | $0.00 | $0.00 |
| Shares outstanding | 7.0M | 6.9M | 7.2M | 7.2M | 6.6M | 7.0M | 7.0M | 7.0M | 7.0M | 6.9M |
| Change in shares outstanding | +0.3% | −3.3% | −0.4% | +8.9% | −5.7% | +0.4% | −0.1% | +0.0% | +2.3% | +0.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 13.8% | 4.7% | 14.3% | 21.9% | 19.4% | 17.3% | −7.5% | 7.5% | 4.5% | −4.3% |
| Return on invested capital (ROIC) | 8.9% | 1.3% | 11.6% | 13.2% | 28.2% | 21.5% | −9.7% | 8.0% | 4.7% | −5.6% |
| Return on assets (ROA) | 6.9% | 2.7% | 8.1% | 11.9% | 11.1% | 13.2% | −6.4% | 6.3% | 4.0% | −4.1% |
| Return on tangible assets | 5.8% | 2.7% | 7.5% | 10.7% | 8.8% | 12.0% | −6.8% | 5.9% | 3.7% | −4.2% |
| Free cash flow margin | 0.2% | −2.1% | −0.2% | 8.7% | −7.5% | 3.0% | 4.4% | 4.7% | 2.4% | −1.3% |
| Income quality (OCF / net income) | 0.44 | −0.72 | 0.29 | 2.99 | −0.95 | 0.74 | — | 1.89 | 1.18 | — |
| Financial health | ||||||||||
| Total debt | $100.9M | $50.6M | $43.1M | $33.3M | $18.8M | $2.1M | $520,511 | $0 | $0 | $0 |
| Cash & short-term investments | $2.5M | $3.7M | $2.9M | $3.0M | $2.6M | $8.2M | $17.1M | $11.7M | $4.1M | $1.5M |
| Net debt | $98.5M | $47.0M | $40.2M | $30.3M | $16.2M | −$6.1M | −$16.5M | −$11.7M | −$4.1M | −$1.5M |
| Debt / equity | 0.67 | 0.38 | 0.34 | 0.29 | 0.24 | 0.03 | 0.01 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.30 | 0.22 | 0.19 | 0.17 | 0.12 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | 2.87 | 3.37 | 1.37 | 0.92 | 0.81 | −0.37 | — | −1.43 | −0.57 | — |
| Current ratio | 3.38 | 4.34 | 3.14 | 3.19 | 2.06 | 2.67 | 6.76 | 6.02 | 5.44 | 19.28 |
| Quick ratio | 1.11 | 1.38 | 1.00 | 1.27 | 0.94 | 1.43 | 3.06 | 2.05 | 1.99 | 4.46 |
| Interest coverage | 6.3 | 0.9 | 8.0 | 9.5 | 111.8 | 638.8 | — | 363.8 | 145.2 | — |
| Working capital | $180.9M | $128.1M | $116.0M | $98.6M | $64.6M | $48.5M | $55.6M | $62.1M | $48.9M | $43.1M |
| Invested capital | $249.9M | $179.4M | $167.7M | $145.7M | $95.9M | $59.2M | $50.3M | $60.8M | $59.0M | $58.9M |
| Tangible asset value | $151.5M | $132.4M | $127.5M | $115.4M | $79.7M | $65.3M | $66.9M | $72.5M | $63.1M | $60.4M |
| Net current asset value | $71.7M | $72.1M | $67.5M | $59.8M | $45.8M | $47.9M | $54.4M | $60.3M | $48.7M | $42.5M |
| Graham number | $37.04 | $19.39 | $31.05 | $32.63 | $23.98 | $18.44 | — | $13.01 | $8.93 | — |
| Graham net-net per share | −$5.20 | $0.25 | −$0.87 | −$0.10 | −$2.46 | $1.68 | $4.69 | $4.56 | $3.55 | $3.32 |
| Capital allocation | ||||||||||
| Dividends paid | $1.1M | $1.1M | $581,000 | $589,000 | $551,212 | $564,190 | $839,933 | $1.2M | $280,378 | $274,078 |
| Share buybacks (net) | $10,000 | $171,000 | $5.2M | $37,000 | $537,855 | $1.7M | $0 | — | $0 | $0 |
| Dividend payout ratio | 5.8% | 18.3% | 3.3% | 2.8% | 3.9% | 4.9% | — | 23.4% | 10.2% | — |
| Dividends + buybacks / free cash flow | 82.8% | — | — | 1.3% | — | 60.0% | 13.3% | 13.5% | 9.7% | — |
| Capex / revenue | 1.1% | 1.1% | 1.1% | 3.0% | 2.8% | 3.7% | 3.5% | 0.4% | 0.3% | 1.0% |
| Capex / operating cash flow | 83.9% | — | 116.3% | 25.8% | — | 54.7% | 43.9% | 8.4% | 10.8% | — |
| Capex / depreciation | 1.87 | 1.52 | 1.89 | 6.51 | 6.11 | 4.55 | 3.24 | 0.60 | 0.26 | 0.50 |
| Stock-based compensation / revenue | 0.1% | 0.0% | 0.0% | 0.1% | 0.2% | 0.4% | 0.2% | 0.1% | 0.2% | 0.1% |
| SG&A / revenue | 4.4% | 4.7% | 8.7% | 8.5% | 4.4% | 6.2% | 3.6% | 2.6% | 3.5% | 5.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 36.2 | 38.9 | 34.2 | 28.3 | 35.9 | 46.4 | 32.0 | 29.9 | 39.8 | 32.3 |
| Days of inventory on hand | 93.1 | 104.9 | 83.1 | 58.9 | 77.7 | 127.6 | 110.9 | 91.2 | 117.9 | 179.9 |
| Days payables outstanding | 33.3 | 35.1 | 32.2 | 31.1 | 44.7 | 42.9 | 26.8 | 22.8 | 19.8 | 10.5 |
| Cash conversion cycle (days) | 95.9 | 108.8 | 85.0 | 56.1 | 68.9 | 131.2 | 116.0 | 98.3 | 137.9 | 201.8 |
| Receivables turnover | 10.09 | 9.38 | 10.68 | 12.88 | 10.18 | 7.86 | 11.42 | 12.22 | 9.18 | 11.30 |
| Payables turnover | 10.95 | 10.41 | 11.32 | 11.72 | 8.17 | 8.52 | 13.63 | 15.98 | 18.45 | 34.80 |
| Inventory turnover | 3.92 | 3.48 | 4.39 | 6.19 | 4.70 | 2.86 | 3.29 | 4.00 | 3.10 | 2.03 |
| Asset turnover | 2.30 | 1.95 | 2.40 | 3.05 | 2.24 | 1.46 | 1.73 | 2.33 | 1.76 | 1.19 |
| Average receivables | $64.1M | $47.4M | $48.3M | $42.5M | $28.0M | $16.0M | $12.4M | $15.3M | $13.2M | $6.9M |
| Average payables | $51.2M | $38.3M | $39.2M | $40.7M | $29.9M | $12.0M | $10.2M | $10.9M | $6.1M | $2.2M |
| Average inventory | $143.0M | $114.7M | $101.0M | $77.1M | $52.0M | $35.8M | $42.4M | $43.6M | $36.5M | $38.4M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from FRD's annual financial statements (latest annual report filed June 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FRD valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), Friedman Industries traded at 6.3 times earnings, against a 10-year median of 7.0. Based on the latest twelve months, the trailing P/E is 10.5 and the forward P/E is 14.4. Friedman Industries earned a return on equity of 13.8% and a return on invested capital of 8.9% in fiscal 2026. It ended the year with $100.9 million of debt and $2.5 million in cash and short-term investments, net debt of $98.5 million. It returned $1.1 million to shareholders: $1.1 million in dividends and $0.0 million in share buybacks, 83% of free cash flow.
See the FRD income statement, the FRD chart for price history, or the FRD stock overview for the latest quote and news.
FRD key metrics FAQ
What is Friedman Industries's P/E ratio?
Friedman Industries's trailing P/E ratio is 10.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.4. At the end of fiscal 2026 it was 6.3, compared with a 10-year median of 7.0.
What is Friedman Industries's EV/EBITDA?
Friedman Industries's enterprise value was 6.5 times EBITDA at the end of fiscal 2026 (enterprise value $221.9 million, EBITDA $34.3 million); the current EV/EBITDA is 8.4.
What is Friedman Industries's return on equity?
Friedman Industries's return on equity (ROE) was 13.8% in fiscal 2026: net income of $19.5 million on average shareholders' equity of $142.0 million.
What is Friedman Industries's ROIC?
Friedman Industries's return on invested capital was 8.9% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Friedman Industries have?
Friedman Industries had total debt of $100.9 million at the end of fiscal 2026, a debt-to-equity ratio of 0.67 and $98.5 million of net debt (2.87 times EBITDA).
What is Friedman Industries's dividend yield?
Friedman Industries's forward dividend yield is 0.40%. Friedman Industries paid $1.1 million in dividends in fiscal 2026 ($0.16 per share), a payout ratio of 5.8%.
Does Friedman Industries buy back its shares?
Yes. Friedman Industries spent $0.0 million on net share repurchases in fiscal 2026 Shares outstanding changed +0.3% over the year, to 7.0M..
What is Friedman Industries's free cash flow yield?
Friedman Industries generated $1.4 million of free cash flow in fiscal 2026, a free cash flow yield of 1.1% on its market value at year-end ($123.4 million).
What is Friedman Industries's current ratio?
Friedman Industries's current ratio was 3.38 at the end of fiscal 2026: current assets were 3.38 times current liabilities.