Stock fact sheet · data as of
Friedman Industries, Incorporated (FRD): fair value, margin of safety and Wheel Score
Ticker symbol FRD · Basic Materials · Steel · United States · Blend
Is FRD undervalued?
Friedman Industries, Incorporated (FRD) closed at 38.79 on 5 Nov 2026, 42% above the GLS average fair value of 27.23. 5 of the 8 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
The 8 models disagree widely: DDM gives 2.35 while Graham Growth gives 62.32. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for FRD, so the nightly engine files it under Blend (value score 49, growth score 54, out of 100).
Nine valuation models for FRD
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 25.78 | -34% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 45.20 | +17% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 62.32 | +61% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 15.45 | -60% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 11.31 | -71% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 12.55 | -68% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 2.35 | -94% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 42.92 | +11% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 9.94 | -74% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - FRD passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 4.1 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are moderate - ROIC 7.7%, ROE 12.9%, ROA 5.8% - with debt at 0.67 times equity and negative free cash flow.
The dividend yield is 0.41% with a payout ratio of 4% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Tubular 100% (quarter Q2 FY2026).
Institutional ownership scores 7/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 7.7% |
|---|---|---|---|
| GLS Moat | 4.1 / 10 | ROE | 12.9% |
| Debt / equity | 0.67 | ROA | 5.8% |
| Free-cash-flow yield | -2.6% | Payout ratio | 4% |
| Institutions | 7 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 15: No options
FRD has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (15 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 78k shares a day on a market cap of $280M, with a beta of 1.62 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that weak.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 42% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Fails | 11.3 years to repay its debt (over 3) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $280M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 42% above fair value | |
| Premium | Weak | no option data | |
| Moat | Fair | moat 4.1/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Weak | beta 1.62, $280M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for FRD in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Steel
The 12 companies below are the closest to Friedman Industries, Incorporated by market cap within the Steel industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| WEBC Webco Industries, Inc. | 400.00 | 353.07 | -13% | 17No options | $273M |
| MSB Mesabi Trust | 17.63 | 16.76 | -5% | 30Weak | $231M |
| HLP Hongli Group Inc. | 2.93 | 0.2893 | -913% | 19No options | $219M |
| ASTL Algoma Steel Group Inc. | 5.27 | 1.48 | -256% | 20Weak | $557M |
| MTUS Metallus Inc. | 17.87 | 13.96 | -28% | 34Weak | $741M |
| SXC SunCoke Energy, Inc. | 10.45 | 20.15 | +48% | 46Weak | $887M |
| LUD Luda Technology Group Limited | 3.65 | 0.5278 | -592% | 12No options | $83M |
| SID Companhia Siderúrgica Nacional | 0.7766 | 8.77 | +91% | 27Weak | $1.0B |
| WS Worthington Steel, Inc. | 40.48 | 25.82 | -57% | 25Weak | $2.1B |
| SIM Grupo Simec, S.A.B. de C.V. | 24.80 | 23.39 | -6% | 19No options | $4.1B |
| CMC Commercial Metals Company | 66.46 | 59.09 | -12% | 37Weak | $7.3B |
| CLF Cleveland-Cliffs Inc. | 12.84 | 22.31 | +42% | 50Fair | $7.3B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about FRD
Is FRD undervalued right now?
No: at 38.79 the stock trades 42% above the GLS average fair value of 27.23 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of FRD and what does it mean?
FRD has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for FRD?
27.23 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Friedman Industries, Incorporated report earnings next?
No upcoming earnings date is recorded for FRD in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does FRD have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on FRD, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.