| Company Name: | Friedman Industries, Incorporated | | Ticker Symbol: | FRD | | | WWW Address: | www.friedmanindustries.com | | CEO: | William E. Crow | | No. of Employees: | 130 | | Common Issue Type: | CS | | Business Description: | The Company is engaged in steel processing, pipe manufacturing and processing and steel and pipe distribution.
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| | | Industry Information: | METALS & MINING - Steel & Iron [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 5.75 |  -0.064 | 5.09 | 6.77 | 5.83 | 5.84 | 5.74 | 13946 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 39.1 | 6.8 | 1.63 | 2.01 | 0.37 | 10.1 | 0.7 | 9.90 - 3.82 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 5.75 | $ | | PE Ratio - LTM | 10.1 | |
| Market Capitalisation | 39.1 | mil |
| Latest Shares Outstanding | 6.8 | mil |
| Earnings pS (EPS) | 2.01 | $ |
| Dividend pS (DPS) | 0.37 | ¢ |
| Dividend Yield | 0.7 | % |
| Dividend Payout Ratio | 18 | % |
| Revenue per Employee | 1,606,000 | $ |
| Effective Tax Rate | 34.3 | % |
| Float | 5.2 | mil |
| Float as % of Shares Outstanding | 77.1 | % |
| Foreign Sales | 0 | mil |
| Domestic Sales | 0 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 3.80 | % |
| Research & Devlopment (R&D) as % of Revenue | 0.00 | % |
| Gross Profit Margin | 11.1 | % |
| EBITDA Margin | 7.3 | % |
| Pre-Tax Profit Margin | 5.4 | % |
| Assets Turnover | 1.5 | % |
| Return on Assets (ROA) | 6.3 | % |
| Return on Equity (ROE) | 7.0 | % |
| Return on Capital Invested (ROCI) | 7.0 | % |
| Current Ratio | 9.5 | |
| Leverage Ratio (Assets/Equity) | 1.1 | |
| Interest Cover | 399.0 | |
| Total Debt/Equity (Gearing Ratio) | 0.00 | |
| LT Debt/Total Capital | 0.0 | % |
| Working Capital pS | 5.79 | $ |
| Cash pS | 3.10 | $ |
| Book-Value pS | 8.16 | $ |
| Tangible Book-Value pS | 8.16 | $ |
| Cash Flow pS | 0.88 | $ |
| Free Cash Flow pS | 2.28 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 0.70 | |
| Price/Tangible Book Ratio | 0.70 | |
| Price/Cash Flow | 6.5 | |
| Price/Free Cash Flow | 2.5 | |
| P/E as % of Industry Group | 0.0 | % |
| P/E as % of Sector Segment | 0.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 09/03/2009 |
| Dividend Ex-Date | 10/20/2009 |
| Dividend Record Date | 10/22/2009 |
| Dividend Pay Date | 11/19/2009 |
| Dividend Amount | 10 |
| Type of Payment | Cash Payment |
| Dividend Rate | 0.04 |
| Current Dividend Yield | 0.7 |
| 5-Y Average Dividend Yield | 5.4 |
| Payout Ratio | 18.0 |
| 5-Y Average Payout Ratio | 34.0 |
|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | -0.9 | 97 | 190 | 463 |
| 4 Weeks | 6.22 | 5.67 | 5.77 | -0.3 | 93 | 184 | 3,319 |
| 13 Weeks | 6.22 | 5.57 | 5.94 | -3.2 | 90 | 172 | 10,669 |
| 26 Weeks | 6.95 | 5.00 | 5.45 | 5.5 | 87 | 235 | 29,668 |
| 52 Weeks | 9.90 | 3.82 | 4.96 | 15.9 | 94 | 355 | 88,849 |
| YTD | 9.90 | 3.82 | - | -13.9 | 70 | 356 | 81,132 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 5.78 | 5.86 | 5.93 | 5.85 | 5.60 | 1.63 | 1.37 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | -2.16 | 5.0 | -9.11 |
| Income | 6.36 | 8.0 | -1.28 |
| Dividend | 13.31 | 51.8 | -0.23 |
| Capital Spending | 34.32 | NA | -3.77 |
| R&D | 0.00 | NA | 0.00 |
| Normalized Inc. | 6.05 | NA | -1.44 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | -78.3 | -77.4 | 16.8 |
| Earnings % | -100.0 | -100.0 | 206.2 |
| EPS % | -100.0 | -100.0 | 204.5 |
| EPS $ | -1.44 | -0.83 | 1.35 |
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| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 65.03 |
| Current Ratio | 12.7 |
| Quick Ratio (Acid Test) | 6.5 |
| Liquidity Ratio (Cash) | 5.03 |
| Receivables Turnover | 19.2 |
| Average Collection Period | 19 |
| Working Capital/Equity | 70.1 |
| Working Capital pS | 5.78 |
| Cash-Flow pS | 2.27 |
| Free Cash-Flow pS | 3.08 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 11.19 |
| Financial Leverage Ratio (Assets/Equity) | 1.1 |
| Debt Ratio | 7.2 |
| Total Debt/Equity (Gearing Ratio) | 0.00 |
| LT Debt/Equity | 0.00 |
| LT Debt/Capital Invested | 1.8 |
| LT Debt/Total Liabilities | 0.3 |
| Interest Cover | 906.3 |
| Interest/Capital Invested | 0.04 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 0.13 |
| Tobin's Q Ratio | 0.65 |
| Current P/E Ratio - LTM | 10.10 |
| Enterprise Value (EV)/EBITDA | 1.18 |
| Enterprise Value (EV)/Free Cash Flow | 11.03 |
| Dividend Yield | 0.7 |
| Price/Tangible Book Ratio - LTM | 0.70 |
| Price/Book Ratio - LTM | 0.70 |
| Price/Cash Flow Ratio | 6.5 |
| Price/Free Cash Flow Ratio - LTM | 2.5 |
| Price/Sales Ratio | 0.37 |
| P/E Ratio (1 month ago) - LTM | 10.2 |
| P/E Ratio (26 weeks ago) - LTM | 2.7 |
| P/E Ratio (52 weeks ago) - LTM | 3.0 |
| 5-Y High P/E Ratio | 20.0 |
| 5-Y Low P/E Ratio | 1.9 |
| 5-Y Average P/E Ratio | 7.5 |
| Current P/E Ratio as % of 5-Y Average P/E | 134 |
| P/E as % of Industry Group | 0.0 |
| P/E as % of Sector Segment | 0.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 10.1 |
| PER SHARE FIGURES |
| LT Debt pS | 0.00 |
| Current Liabilities pS | 0.49 |
| Tangible Book Value pS - LTM | 8.16 |
| Book Value pS - LTM | 8.16 |
| Capital Invested pS | 8.25 |
| Cash pS - LTM | 3.10 |
| Cash Flow pS - LTM | 0.88 |
| Free Cash Flow pS - LTM | 2.28 |
| Earnings pS (EPS) | 2.01 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 10.03 |
| Free Cash Flow Margin 5YEAR AVG | 1.63 |
| Net Profit Margin | 6.5 |
| Net Profit Margin - 5YEAR AVRG. | 4.0 |
| Equity Productivity | 3.72 |
| Return on Equity (ROE) | 24.4 |
| Return on Equity (ROE) - 5YEAR AVRG. | 17.6 |
| Capital Invested Productivity | 3.72 |
| Return on Capital Invested (ROCI) | 24.4 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 17.0 |
| Assets Productivity | 3.30 |
| Return on Assets (ROA) | 22.6 |
| Return on Assets (ROA) - 5YEAR AVRG. | 12.6 |
| Gross Profit Margin | 11.1 |
| Gross Profit Margin - 5YEAR AVRG. | 9.4 |
| EBITDA Margin - LTM | 7.3 |
| EBIT Margin - LTM | 5.4 |
| Pre-Tax Profit Margin | 10.0 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 6.1 |
| Effective Tax Rate | 34.3 |
| Effective Tax Rate - 5YEAR AVRG. | 35.8 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 58 |
| Revenue per Employee | 1,606,000 |
| Net Income per Employee | 105,177 |
| Average Collection Period | 9 |
| Receivables Turnover | 19.2 |
| Day's Inventory Turnover Ratio | 49 |
| Inventory Turnover | 7.3 |
| Inventory/Sales | 9.3 |
| Accounts Payble/Sales | 1.28 |
| Assets/Revenue | 0.30 |
| Net Working Capital Turnover | 5.31 |
| Fixed Assets Turnover | 11.74 |
| Total Assets Turnover | 3.3 |
| Revenue per $ Cash | 12.37 |
| Revenue per $ Plant | 12.27 |
| Revenue per $ Common Equity | 3.72 |
| Revenue per $ Capital Invested | 3.72 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 2.9 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 2.8 |
| Research & Devlopment (R&D) as % of Revenue | 0.0 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 0.0 |
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