How profitable is Friedman Industries Inc. (FRD)?

In FY 2025 (10-K), FRD converted $131.0M of revenue into a 52% gross margin, 0% operating margin, and $8.5M in free cash flow (6.5% FCF margin).

Stock Ratings / Materials / FRD / financials

TWI (19) ASTL (56) IIIN (48) MTUS (52) ⌘ Pro Terminal →

Friedman Industries Inc. (FRD) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$41.54 -1.47% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $41.35

Friedman Industries Inc. (FRD) carries a Roarable Rating of C- (Hold) with 60/100 RQD Confidence. The composite score sits in the neutral Hold band (59–69), meaning current holders don’t need to panic-sell while prospective buyers can wait for a move into the 70+ Buy zone.

ROARABLE C- • HOLD / WATCH Cap $304.1M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is FRD stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Friedman Industries Inc. (NASDAQ: FRD) is rated C- (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 60/100 at a spot price of $41.54 (-1.47% 1D, market cap $304.1M). Pillar breakdown: Fundamental Cash Engine 15/20, Institutional 13F & Options Flow 11/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 13/20, and Executive Insider Alignment 11/20. Across 270 tracked Materials issuers, FRD ranks #37 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does FRD compare to TWI and ASTL in the Materials sector?

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Within the Materials sector (Steel/Iron Ore), FRD carries a Roarable C- (60/100 RQD), trailing P/E of 15.9x, gross margin of —, and ROIC of 13.7%. By comparison, TWI (Titan International Inc.) holds a E grade (19/100 RQD, P/E N/A, ROIC 5.3%, cap $300.4M) and ASTL (Algoma Steel Group Inc.) posts a D+ grade (56/100 RQD, P/E N/A, ROIC —, cap $504.0M). Among the 5-stock peer group, IIIN leads on earnings multiple (13.7x) while FRD leads on capital efficiency (13.7% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for FRD?

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Per FRD's SEC EDGAR XBRL 10-K filing (FY2025, filed 2026-03-31, CIK 0000039092), Friedman Industries Inc. generated $131.0M in revenue (+1437.3% YoY), $19.5M in net income, and $0 in free cash flow against $311.9M in total assets and $0 in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $41.35 (-0.45%)🧬 Cannibal Buyback (-0.96% YoY Shares)⚙️ Cash Engine: 15/20 (B) • 6.5% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 60/100 (C-) historically posted market-perform odds over rolling 90-day windows (+0.4% avg 90D alpha vs SPY • 53.5% hit rate — wait for RQD ≥ 70 breakout).

Audit Bucket Track Record →

RQD QUANT TACHOMETERHOLD / WATCH • C-

JEV AI Jury Split (Battleground)

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw C · Rk D+

Each axis scored 0–20

12M PRICE TARGET CONE+0.9% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for FRD)Realized 20D OHLCV Swing Band: ±7.4%

Deterministic 5-Pillar Attribution (60/100 Composite)

🔍 WHY FRD SCORES 60/100 (C-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Cash Engine Quality+15/20 pts (25% of score)

SEC XBRL FY 2025 (10-K): 6.5% FCF Margin ($8.5M FCF) & 52% Gross Margin

▲ #2 Bullish Driver: Macro Regime Fit+13/20 pts (22% of score)

FRED Regime × Technicals: 78% of 52W Range • RSI-14 at 51 (NEUTRAL RANGE)

▼ #1 Drag / Risk Factor: SEC 10-K Forensic Risk10/20 pts (-10 pt drag)

Balance-sheet & 10-K footnote risk deducts 10 pts from forensic ceiling

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade B-$42.91-1% Next Q

Q2 (-2Q)

Grade C+$42.50+0.8% Next Q

Q3 (-1Q)

Grade C+$42.86-3.1% Next Q

Current

Grade C-$41.54+0.4% Hist 90D α

Trajectory: B- (68) → C- (60)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the FRD Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 60/100 (C-) score, FRD faces multiple-compression risk if 15.9x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-0.96% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($42.08) or 200D SMA ($29.66) invalidates the momentum regime and cuts Target Base ($41.91) toward Bear Floor ($32.69).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $FRD• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “FRD Beats Next Quarter EPS Consensus (Dec 29, 2026) & Holds Above 200D SMA”

YES 60%NO 40%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How FRD Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$8.5M (6.5% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $68.7M

FY24

Rev $8.5M

FY25

Rev $131.0M

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$131.0M	52%	0%	$19.5M	$18.6M	13.7%
FY 2024	$8.5M	52%	35.7%	$6.1M	-$8.4M	1.9%
FY 2023	$68.7M	52%	35.7%	$17.3M	$5.0M	13.7%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring FRD)

✓Walkthrough of FRD's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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FRD // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +103.03%⚡ TESTING RESISTANCE

2026-11-03O $43.17H $43.17L $41.54C $41.54VOL 45.9K

RES: $43.82SUP: $39.68SMA50: $42.08SMA200: $29.66

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

FRD Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 FRD Butterfly Map → + Track FRD →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

8.4%/yr Implied 5Y Growth

vs. +1437.3% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on FRD today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for FRD. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for FRD today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (FRD)

Materials Rank #37 of 270 ⚔️ TWI vs FRD Full Matrix →

1. Head-to-Head Materials Peer Comparison (FRD vs. TWI, ASTL, IIIN, MTUS)

Industry: Steel/Iron Ore (26 Tracked Issuers)

Across 270 tracked Materials securities in the Roarable RQD universe, Friedman Industries Inc. (FRD) ranks #37 by composite RQD confidence (60/100, grade C-) and #201 by equity capitalization ($304.1M). Within this direct 5-issuer industry benchmark cohort, IIIN leads on earnings valuation at 13.7x trailing P/E, while FRD leads on capital efficiency and profitability with 13.7% ROIC and — gross margin. FRD currently leads its immediate peer cohort in composite quantitative strength at 60/100 (C-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
FRD ACTIVE Friedman Industries Inc.	C-	60/100	15.9x	—	13.7%	-1.47%	$304.1M	Benchmark Subject
TWI Titan International Inc.	E	19/100	—	13.9%	5.3%	+6.88%	$300.4M	/twi-vs-frd →
ASTL Algoma Steel Group Inc.	D+	56/100	—	—	—	+3.56%	$504.0M	/astl-vs-frd →
IIIN Insteel Industries Inc.	D	48/100	13.7x	14.4%	11.4%	+1.37%	$550.6M	/iiin-vs-frd →
MTUS Metallus Inc.	D+	52/100	—	8.2%	-0.2%	+0.95%	$875.4M	/mtus-vs-frd →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2026-03-31 • CIK 0000039092 ↗

In its most recent audited fiscal period (FY2025, filed 2026-03-31), Friedman Industries Inc. (FRD) reported GAAP revenue of $131.0M (+1437.3% vs. FY2024 revenue of $8.5M , and +90.8% cumulative change since FY2023) , GAAP net income of $19.5M, operating cash flow of $0, and free cash flow of $0 . On the balance sheet, FRD closed FY2025 with $311.9M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 3/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2026-03-31	$131.0M	$19.5M	—	—	$311.9M	—
FY2024 (FY)	2025-03-31	$8.5M	$6.1M	-$4.4M	-$8.4M	$210.3M	—
FY2023 (FY)	2024-03-31	$68.7M	$17.3M	$5.0M	$5.0M	—	—

3. FRD Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is FRD stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does FRD compare to TWI and ASTL in the Materials sector?

What are the biggest fundamental strengths and SEC risk factors for FRD?

Where is FRD trading relative to its 50-day, 200-day, and 52-week technical levels?

FRD last traded at $41.54 (-1.47% on volume of 57,518 shares), positioning the stock -1.28% below its 50-day simple moving average ($42.08) and +40.05% above its 200-day simple moving average ($29.66). Across its 52-week range of $16.55 to $48.77, FRD sits at the 77.6% percentile with a 14-day RSI of 51.0 (NEUTRAL RANGE) and an implied next-earnings move of ±7.4% ($38.47 to $44.61).

Direct Sub-Reports: FRD RQD Cockpit FRD 12M Forecast FRD Earnings & Move FRD Dividends & DRIP FRD Insiders & 13F FRD Whale Options FRD Profit Sankey FRD News & Why

ROARABLE RATING BRIEF • RQD 60/100 (C-) ✓ SEC XBRL & RQD VERIFIED

FRD — Friedman Industries Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2026-03-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Friedman Industries Inc. (FRD) earns a live Roarable RQD composite score of 60/100, corresponding to a C- letter grade (Roarable Hold) at a spot price of $41.54 (-1.47% 1D, market capitalization $304.1M).

Fundamental Cash Engine (15/20): Anchored by return on invested capital (ROIC) of 13.7%, gross margin of —, operating margin of —, and free cash flow yield of —.
Whale 13F & Options Flow (11/20) + Insider Conviction (11/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (13/20) + Forensic Balance Sheet (10/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 3/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Friedman Industries Inc. Is a NASDAQ-listed issuer classified in the Materials sector and the Steel/Iron Ore industry. Per the recent news wire, one of its steel pipe divisions was rebranded from Texas Tubular Products to Friedman Tubular.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2026-03-31), Friedman Industries Inc. (FRD) reported $131.0M in annual revenue (up from $8.5M in FY2024, +1437.3% YoY) and $19.5M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($68.7M revenue, $17.3M net income) through FY2025, FRD scaled operating cash flow to $0 and free cash flow to $0, backed by $311.9M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (C- • RQD 60/100): Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Free cash flow yield of — and institutional whale pillar of 11/20. With Fundamental Cash Engine at 15/20 and Institutional Whale Flow at 11/20, sustained execution supports upside toward the upper end of the $16.55 – $48.77 52-week range.
🐻 Primary Bear Case & Valuation Risk: Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins. Investors must weigh 15.9x trailing P/E against — operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Operating in Steel/Iron Ore (Materials), FRD carries a macro regime beta of 1.00 and gross margin of —.

Key Question #1: Can FRD sustain or expand its — operating margin and 13.7% ROIC against Steel/Iron Ore peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $131.0M and free cash flow of $0, how will capital allocation balance growth reinvestment against $0 in total debt?
Key Question #3: How sensitive is FRD's 14.8x forward P/E multiple to Materials capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

FRD Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Friedman Industries Inc. (FRD) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to FRD Debate Forum (3) ↓

🟢 CATALYST Yahoo Finance • 23h ago

Friedman Surges More Than 127% in 6 Months: What's Driving the Stock?

Yahoo Finance report covering Friedman Industries Inc. (FRD) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

A steel pipe division has a new name: Friedman Tubular

Stock Titan report covering Friedman Industries Inc. (FRD) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Friedman Industries Announces Rebrand of Texas Tubular Products to Friedman Tubular

Yahoo Finance report covering Friedman Industries Inc. (FRD) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

Friedman Industries Inc. Estimates – NASDAQ:FRD

TradingView report covering Friedman Industries Inc. (FRD) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH www.siam.in • 1d ago

Friedman (FRD) Stock Today: Drops -1.06% — Critical Support Levels 2026-10-22 - Price Action Signals

www.siam.in report covering Friedman Industries Inc. (FRD) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST https://www.dars.gov.et/ • 1d ago

Friedman Industries (FRD) Edges Higher as Steel Processor Holds Above Key Support - Bullish Percent Index

https://www.dars.gov.et/ report covering Friedman Industries Inc. (FRD) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

FRD Bull vs. Bear Conversation Board — What's Your Call at $41.54?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON FRD 🐻 33% BEARISH CONVICTION

AL AlphaFlow_Cap RQD DEBATE OPENER • Verified $100K Arena Trader 🐂 BULLISH 🎯 Target: $51.01 (+21.0%)

📌 Pinned Debate

The stock trades at a 15.9 P/E with a 13.7% ROIC and a 127% six-month gain reported in the news feed.

The stock trades at a 15.9 P/E with a 13.7% ROIC and a 127% six-month gain reported in the news feed.. When you look under the hood at FRD, Fundamental Cash Engine is 15/20 with 0.0% gross margins and 13.7% ROIC. Bears are staring in the rearview mirror while institutional 13F flow (11/20) has been quietly accumulating below $48.77. My 12M target is $51.01.

EarningsSniper 🐂 BULL

@BearTrap_Alert Shorting a 11/20 institutional whale-flow stock at $42.16 is dangerous when funds are rotating into Materials.

BE BearTrap_Alert RQD DEBATE OPENER • Cycle Peak Watcher 🐻 BEARISH 🎯 Target: $32.04 (-24.0%)

Spot @ $42.16

A 0% FCF yield, a Piotroski F-Score of 3/9, and reported revenue of $0.0M leave the cash and balance-sheet case unsupported.

Here is the bear case nobody on the bull side wants to address on FRD: A 0% FCF yield, a Piotroski F-Score of 3/9, and reported revenue of $0.0M leave the cash and balance-sheet case unsupported.. At 15.9x trailing P/E, even a small guidance miss in Steel/Iron Ore triggers a 12-15% air pocket.