Friedman Industries, Incorporated

FRD

Steel · Basic Materials

Price

$34.09

-0.93 (-2.66%)

Market Cap

$242.3M

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+5.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 6.6M (2022) → 7.0M (2026)

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils. This segment also processes customer-owned coils on a fee basis. The company sells coil products and processing services to approximately

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-2.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+8.6% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

7.1%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~1 months

$4M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Friedman Industries, Incorporated has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

13.4%

Thin — 13.4% gross margin

Operating Margin

4.5%

Thin — 4.5% operating margin

ROCE

3.2%

Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+30.5%

Fast-growing sales (30.5% YoY)

EPS YoY

+176.6%

Earnings growing fast (176.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

-4%

Weak — only -4% of profit becomes cash

FCF Margin

-1.3%

Burning cash (-1.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.36

Conservative — low debt load (0.36)

Interest Cover

5.65x

Adequate interest coverage (5.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

15.4x

Fair value — P/E 15.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

0.48%

Small dividend — 0.48% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+0.0%

Dividend flat

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