← FRIEDMAN INDUSTRIES INC

Annual Trend FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026
Accounts receivable, net of allowances for credit losses of $426 and $147 at March 31, 2026 and 2025, respectively $8.9m $17.5m $13.2m $11.7m $20.4m $35.7m $49.4m $47.3m $47.5m $80.2m
Inventories $34.9m $38.0m $49.1m $35.7m $36.0m $67.9m $86.2m $115.8m $113.7m $172.2m
Income tax receivable — — — — — — — — $0 $521k
Other current assets $114k $429k $544k $780k $12.9m $14.9m $4.5m $4.0m $980k $1.5m
TOTAL CURRENT ASSETS $45.4m $60.0m $74.5m $65.2m $77.5m $125.4m $143.7m $170.1m $166.5m $257.0m
Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization $15.2m $14.2m $11.9m $11.5m $15.5m $30.1m $53.9m $56.8m $56.3m $73.6m
Operating Lease, Right-of-Use Asset — — — — — $113k $1.3m $2.8m $2.8m $4.7m
Other assets — — — — — — — $356k $1.3m $1.5m
Cash $1.5m $4.1m $11.7m $17.1m $8.2m $2.6m $3.0m $2.9m $3.7m $2.5m
Current portion of derivative assets — — — — $622k $4.2m $536k $74k $636k $153k
Land $1.1m $1.5m $1.5m $1.2m $1.2m $1.2m $1.7m $1.7m $1.6m $11.6m
Buildings and yard improvements $7.1m $8.7m $8.8m $9.0m $9.2m $8.6m $28.6m $30.9m $30.4m $32.7m
Machinery and equipment $31.5m $39.3m $38.2m $29.3m $35.3m $30.4m $51.0m $53.6m $58.0m $65.5m
Construction in process $9.5m — — $3.8m $10k $15.9m $1.2m $2.0m $135k $934k
Less accumulated depreciation ($33.9m) ($35.3m) ($36.5m) ($31.8m) ($30.2m) ($26.0m) ($28.5m) ($31.4m) ($33.8m) ($37.1m)
Income taxes payable — — $160k — $1.5m $0 $774k $2.2m $647k $0
Employee compensation and related expenses $241k $612k $297k $410k $2.6m $1.1m $4.7m $6.0m $1.8m $8.3m
Current portion of derivative liability — — — — $8.0m $14.4m $2.2m $1.7m $287k $426k
NON-CURRENT LEASE LIABILITIES $1.2m $2.8m $2.8m $4.1m
SELLER NOTE PAYABLE, NET $0 $3.5m
NON-CURRENT CONTINGENT CONSIDERATION LIABILITY $0 $2.2m
ASSET BASED LENDING FACILITY $0 $18.4m $33.1m $40.3m $47.7m $92.6m
Issued shares — 9,019,505 shares and 8,877,229 shares at March 31, 2026 and 2025, respectively $8.2m $8.2m $8.2m $8.3m $8.3m $8.3m $8.9m $8.9m $8.9m $9.0m
TOTAL STOCKHOLDERS’ EQUITY $60.4m $63.1m $72.5m $66.9m $65.3m $79.7m $115.4m $127.5m $132.4m $151.5m
TOTAL ASSETS $63.3m $74.4m $86.6m $77.3m $95.0m $159.3m $199.3m $230.0m $226.8m $336.8m
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $63.3m $74.4m $86.6m $77.3m $95.0m $159.3m $199.3m $230.0m $226.8m $336.8m
Accounts payable and accrued expenses $2.0m $10.2m $11.6m $8.9m $15.2m $44.8m $36.8m $43.9m $35.3m $67.2m
Dividends payable $70k $140k $280k $140k $138k $137k $148k $279k $279k $284k
TOTAL CURRENT LIABILITIES $2.4m $11.0m $12.4m $9.6m $29.1m $60.8m $45.1m $54.1m $38.3m $76.1m
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS $550k $175k $210k $100k $109k $120k $96k $105k $115k $96k
DEFERRED INCOME TAX LIABILITY $103k $1.5m $361k $0 $4.4m $5.3m $5.5m $6.8m
TOTAL LIABILITIES $2.9m $11.3m $14.1m $10.5m $29.7m $79.6m $83.9m $102.5m $94.4m $185.3m
Additional paid-in capital $28.9m $29.2m $29.3m $29.6m $30.0m $30.4m $35.0m $35.2m $35.4m $35.9m
Treasury stock at cost (1,907,323 shares and 1,906,693 shares at March 31, 2026 and 2025, respectively) ($5.5m) ($5.5m) ($5.5m) ($5.5m) ($7.2m) ($7.7m) ($7.8m) ($12.9m) ($13.1m) ($13.1m)
Retained earnings $28.8m $31.2m $40.5m $34.5m $45.4m $58.9m $79.7m $96.3m $101.3m $119.7m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.