Friedman Industries, Incorporated Financial Ratios — FRD

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Return on Common Equity (%)	13.34	9.71	2.71	0.6	0.46	-4.33	6.1	7.23	-7.53	17.28	19.4	21.88	14.28	4.68	13.76
Return on Assets (%)	11	7.91	2.3	0.55	0.44	-4.12	5.43	6.06	-6.4	13.26	11.06	11.9	8.08	2.66	6.93
Return on Capital (%)	13.34	9.71	2.71	0.6	0.46	- -	6.13	7.25	- -	17.02	17.25	18.56	12.25	4.76	10.39
Return on Invested Capital (%)	13.2	9.65	2.65	0.55	0.03	- -	6.11	8.6	- -	17.41	26.26	12.84	11.29	1.24	8.74
Gross Margin (%)	10.9	10.55	6.08	4.69	5.75	-0.25	8.21	6.9	1.84	18.7	14.37	12.78	14.03	10.23	13.37
EBITDA Margin (%)	8.64	7.97	3.7	2.17	2.08	-3.36	5.88	5.06	-0.7	13.29	10.46	4.31	5.34	1.37	4.56
Operating Margin (%)	7.5	6.66	2.13	0.58	0.03	-5.41	4.76	4.34	-1.77	12.49	10	3.85	4.75	0.63	3.97
Incremental Operating Margin (%)	0.2	12.08	32.57	23.64	2.25	- -	22.99	3.57	- -	-114.15	8.02	-2.84	-11.01	30.33	11.3
Pretax Margin (%)	7.56	6.7	2.18	0.63	0.49	-5.34	4.76	3.65	-4.81	12.07	6.43	5.15	4.52	1.73	4.08
Profit Margin (%)	5.05	4.5	1.47	0.35	0.36	-3.44	3.25	2.72	-3.69	9.06	4.93	3.9	3.36	1.37	3.02
Net Income to Common Margin (%)	5.05	4.5	1.47	0.35	0.36	-3.44	3.25	2.72	-3.69	9.06	4.93	3.9	3.36	1.37	3.02
Effective Tax Rate (%)	33.23	32.91	32.47	44.25	26.26	- -	31.75	25.26	- -	24.95	23.27	24.28	25.6	20.9	25.93
Dvd Payout Ratio (%)	41.71	113.03	103.21	142.27	92.51	-10.23	7.13	23.37	-16	4.94	3.92	2.76	3.35	18.32	5.8
Sustainable Growth Rate (%)	7.77	-1.27	-0.09	-0.26	0.03	-4.78	5.67	5.54	-8.74	16.43	18.64	21.27	13.8	3.82	12.96

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	19	34	43	50	100
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18	34	43	50	100
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	-0.48	0.11	0.62	1.46	1.56	8.31	3.4
Net Debt/EBITDA	-0.85	-1.46	-3.51	-0.95	-1.65	0.56	-0.57	-1.23	17.24	-0.48	0.53	1.28	1.36	7.25	3.18
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	-0.19	0.11	0.65	1.63	1.76	18.13	3.9
Net Debt/EBIT	-0.98	-1.75	-6.09	-3.56	-119.67	0.35	-0.7	-1.44	6.78	-0.51	0.56	1.43	1.53	15.81	3.65
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	255.83	539.44	-205.84	680.89	117.02	10.64	8.98	2.06	7.18
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	243.29	493.39	-1,232.76	493.66	85.39	3.22	7.1	0.36	5.44
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	207.12	463.04	-523.15	639.75	111.84	9.5	7.98	0.94	6.25
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	3	3	4
Common Equity/Total Assets	80.71	82.22	87.59	94.41	94.54	95.41	83.98	83.7	86.45	68.77	50.03	57.92	55.42	58.38	44.98
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.56	0.26	23.14	29.75	33.79	38.12	66.11
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.55	0.26	18.77	22.91	25.25	27.6	39.8
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.48	0.18	11.57	17.23	18.73	22.26	29.73
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.71	2.74	23.27	29.84	33.83	38.12	66.11
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.7	2.67	18.88	22.98	25.28	27.6	39.8
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.61	1.89	11.64	17.28	18.75	22.26	29.73
Net Debt to Equity	-18.74	-25.29	-23.82	-3.52	-4.42	-2.42	-5.91	-16.1	-25.51	-12.27	19.88	26.1	29.34	33.26	61.79
Net Debt/Capital (%)	-23.05	-33.85	-31.27	-3.65	-4.63	-2.48	-6.28	-19.18	-33.93	-13.6	16.56	20.51	22.3	24.57	37.56
EBITDA	14	11	4	2	2	-3	7	9	-1	17	30	24	28	6	29
EBITDA-CapEx	14	10	2	-4	- -	-3	7	9	-6	12	22	7	22	1	22
Operating Income (Loss)	12	9	2	1	- -	-4	6	8	-3	16	29	21	25	3	26

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Cash Ratio	0.86	1.29	1.94	0.84	0.98	0.62	0.37	0.94	1.77	0.28	0.04	0.07	0.05	0.1	0.03
Current Ratio	4.69	5.22	7.7	18.9	17.34	19.28	6.1	6.02	6.76	2.67	2.06	3.19	3.14	4.34	3.38
Quick Ratio	2.03	2.03	3.14	3.44	2.66	4.41	1.95	2.01	2.98	0.98	0.63	1.16	0.93	1.33	1.09
CFO/Avg Current Liab	0.72	0.88	0.29	-1.22	1.1	-0.08	0.48	0.82	1.02	0.44	-0.3	1.21	0.1	-0.1	0.15
Common Equity/Total Assets	80.71	82.22	87.59	94.41	94.54	95.41	83.98	83.7	86.45	68.77	50.03	57.92	55.42	58.38	44.98
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.56	0.26	23.14	29.75	33.79	38.12	66.11
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.55	0.26	18.77	22.91	25.25	27.6	39.8
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.48	0.18	11.57	17.23	18.73	22.26	29.73
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.71	2.74	23.27	29.84	33.83	38.12	66.11
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.7	2.67	18.88	22.98	25.28	27.6	39.8
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.61	1.89	11.64	17.28	18.75	22.26	29.73
CFO/Total Liabilities	55.77	84.42	32.26	-170.38	82.89	-6.97	24.82	68.21	107.2	28.4	-16.83	76.17	4.86	-4.68	4.61
CFO/CapEx	26.3	23.02	1.52	-1.08	1.42	-0.25	9.29	11.92	2.28	1.83	-1.66	3.88	0.86	-0.88	1.19
Altman's Z-Score	6.86	6.54	7.03	9.92	8.78	11.8	5.06	6.26	5	4.28	3.84	4.85	4.55	3.96	3.72

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Accounts Receivable Turnover	11.19	10.78	12.64	13.34	13.93	11.3	9.18	12.22	11.42	7.86	10.18	12.88	10.68	9.38	10.14
Days Sales Outstanding	32.63	33.87	28.89	27.37	26.2	32.3	39.76	29.88	31.96	46.43	35.86	28.34	34.18	38.92	36.01
Inventory Turnover	4.03	3.21	2.93	2.71	1.86	2.03	2.77	3.69	3.29	2.86	4.7	6.19	4.39	3.48	3.92
Days Inventory Outstanding	90.58	113.6	124.65	134.59	196.38	179.95	131.69	98.86	110.85	127.61	77.68	58.92	83.08	104.94	93.11
Accounts Payable Turnover	15.03	10.7	11.44	23.26	33.74	31.66	19.88	16.32	12.29	8.53	9.21	12.15	11.73	10.03	12.08
Accounts Payable Turnover Days	24.29	34.11	31.91	15.69	10.82	11.53	18.36	22.36	29.7	42.81	39.64	30.05	31.12	36.4	30.21
Cash Conversion Cycle	98.93	113.36	121.62	146.26	211.76	200.72	153.09	106.38	113.12	131.23	73.9	57.22	86.14	107.45	98.9
Inventory to Cash Days	-57.95	-79.74	-95.76	-107.22	-170.18	-147.65	-91.93	-68.98	-78.89	-81.18	-41.82	-30.58	-48.9	-66.02	-57.1
Inventories	37	39	35	41	42	35	45	49	36	36	68	86	116	114	172
Raw Materials	15	18	11	12	17	11	24	33	24	27	61	68	90	93	130
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	21	21	25	29	25	24	21	16	12	9	7	18	26	21	42
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Market Capitalization	74	68	57	42	37	45	41	54	31	56	60	84	131	104	126
- Cash & Cash Equivalents	12	16	15	2	3	1	4	12	17	8	3	3	3	4	2
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	19	34	43	50	100
Enterprise Value	63	52	42	40	34	44	37	42	15	49	76	115	171	151	224
Total Capital	63	63	63	63	63	60	69	72	67	67	98	150	171	183	252
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.7	2.67	18.88	22.98	25.28	27.6	39.8
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.03	0.04	0.24	0.3	0.25	0.34	0.45
EV/Sales	0.39	0.38	0.36	0.37	0.42	0.56	0.31	0.22	0.1	0.39	0.27	0.21	0.33	0.34	0.35
EV/EBITDA	4.48	4.76	9.83	17.02	20.07	- -	5.21	4.42	- -	2.95	2.56	4.88	6.2	24.78	7.59
EV/EBIT	5.16	5.69	17.07	63.91	1,457.2	- -	6.43	5.15	- -	3.14	2.68	5.46	6.97	54.07	8.72
EV/Cash Flow to Firm	7.4	4.5	14.59	- -	11.25	- -	11.36	4.34	1.3	5.85	- -	1.76	23.54	- -	19.32
EV/Free Cash Flow to Firm	7.13	4.31	8.8	- -	6.61	73.32	10.26	4.01	0.9	3.79	- -	1.4	13.09	51.56	11.94
Diluted Market Cap	74	68	57	42	37	44	41	54	31	57	58	83	136	103	123
Diluted Enterprise Value	63	52	42	40	34	43	37	42	14	50	74	115	176	150	221
EV per Share	9.2	7.61	6.21	5.87	5.01	6.24	5.29	6	2.06	7.16	11.14	15.6	24.51	21.6	31.46
TTM Sales	162	136	116	108	82	78	121	187	142	126	285	548	516	445	647
TTM EBITDA	14	11	4	2	2	-3	7	9	-1	17	30	24	28	6	29
TTM Operating Income	12	9	2	1	- -	-4	6	8	-3	16	29	21	25	3	26
TTM Cash Flow to Firm	8	11	3	-6	3	- -	3	10	11	8	-13	66	7	-2	12
TTM Free Cash Flow to Firm	9	12	5	- -	5	1	4	10	16	13	-5	82	13	3	19

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Price/Free Cash Flow	8.49	5.64	11.94	-84.7	7.15	74.07	11.45	5.15	1.91	4.36	-10.94	1.04	12.63	176.76	7.86
EV/EBIT	5.16	5.69	17.07	63.91	1,457.2	- -	6.43	5.15	- -	3.14	2.68	5.46	6.97	54.07	8.72
Enterprise Value	63	52	42	40	34	44	37	42	15	49	76	115	171	151	224
Low Price	7.8	8.95	7.87	6.05	4.35	5	5.05	5.55	3.72	4.14	7.37	6.74	9.5	13.4	12.24
EV/Sales	0.39	0.38	0.36	0.37	0.42	0.56	0.31	0.22	0.1	0.39	0.27	0.21	0.33	0.34	0.35
EV/EBITDA	4.48	4.76	9.83	17.02	20.07	- -	5.21	4.42	- -	2.95	2.56	4.88	6.2	24.78	7.59
Price/Earnings	9.13	11.03	33.46	110.26	125.35	- -	10.46	10.54	- -	4.98	4.15	3.9	7.84	16.99	6.32
Price/Earnings Average	8.56	11.52	37.22	136.74	136.33	-15.24	10.25	11	-8.46	3.69	5.27	3.29	5.72	18.38	6.6
Price/Earnings High	10.8	13.28	41.12	156.5	160.74	-18.65	12.12	15.77	-10.74	6.09	7.36	4.6	8.09	22.28	8.69
Price/Earnings Low	6.51	9.92	31.24	107.59	100.6	-12.79	9	7.63	-4.96	2.55	3.47	2.32	3.97	15.29	4.37
Price/Book Value	1.17	1.07	0.91	0.67	0.58	0.75	0.6	0.74	0.47	0.85	0.76	0.72	1.03	0.78	0.83
Price/Book Value Average	1.1	1.12	1.01	0.83	0.63	0.69	0.59	0.77	0.67	0.63	0.96	0.61	0.75	0.85	0.87
Price/Book Value High	1.39	1.29	1.11	0.95	0.75	0.85	0.7	1.1	0.85	1.05	1.34	0.85	1.06	1.03	1.14
Price/Book Value Low	0.84	0.97	0.85	0.65	0.47	0.58	0.52	0.53	0.39	0.44	0.63	0.43	0.52	0.71	0.57
Price/Tangible Book Value	1.17	1.07	0.91	0.67	0.58	0.75	0.6	0.74	0.47	0.85	0.76	0.72	1.03	0.78	0.83
Price/Tangible Book Value Average	1.1	1.12	1.01	0.83	0.63	0.69	0.59	0.77	0.67	0.63	0.96	0.61	0.75	0.85	0.87
Price/Tangible Book Value High	1.39	1.29	1.11	0.95	0.75	0.85	0.7	1.1	0.85	1.05	1.34	0.85	1.06	1.03	1.14
Price/Tangible Book Value Low	0.84	0.97	0.85	0.65	0.47	0.58	0.52	0.53	0.39	0.44	0.63	0.43	0.52	0.71	0.57
Price/Sales	0.46	0.5	0.49	0.39	0.45	0.57	0.34	0.29	0.22	0.45	0.2	0.15	0.26	0.23	0.19
Price/Sales Average	0.43	0.52	0.55	0.48	0.49	0.52	0.33	0.3	0.31	0.33	0.26	0.13	0.19	0.25	0.2
Price/Sales High	0.55	0.6	0.61	0.55	0.58	0.64	0.39	0.43	0.4	0.55	0.36	0.18	0.27	0.3	0.26
Price/Sales Low	0.33	0.45	0.46	0.38	0.36	0.44	0.29	0.21	0.18	0.23	0.17	0.09	0.13	0.21	0.13
Price/Cash Flow	8.81	5.88	19.8	-6.61	12.18	-218.08	12.68	5.58	2.75	6.75	-4.36	1.3	27.32	-23.41	14.46
Price/Cash Flow Average	8.25	6.15	22.03	-8.2	13.24	-201.42	12.43	5.82	3.95	5	-5.53	1.1	19.91	-25.32	15.1
Price/Cash Flow High	10.42	7.09	24.33	-9.39	15.61	-246.48	14.69	8.35	5.02	8.26	-7.73	1.54	28.18	-30.69	19.88
Price/Cash Flow Low	6.28	5.29	18.49	-6.45	9.77	-169.05	10.91	4.04	2.32	3.45	-3.64	0.77	13.85	-21.07	9.99
Price/Free Cash Flow Average	7.95	5.89	13.28	-105.04	7.78	68.41	11.22	5.37	2.75	3.23	-13.89	0.87	9.2	191.14	8.21
Price/Free Cash Flow High	10.04	6.79	14.67	-120.22	9.17	83.72	13.26	7.7	3.49	5.34	-19.42	1.22	13.02	231.72	10.81
Price/Free Cash Flow Low	6.05	5.07	11.14	-82.65	5.74	57.42	9.85	3.73	1.61	2.23	-9.16	0.62	6.4	159.07	5.43
EV/Sales Average	0.36	0.4	0.42	0.46	0.46	0.52	0.3	0.24	0.2	0.28	0.32	0.19	0.26	0.36	0.35
EV/Sales High	0.47	0.48	0.48	0.53	0.54	0.64	0.36	0.37	0.28	0.49	0.43	0.24	0.34	0.41	0.42
EV/Sales Low	0.25	0.33	0.33	0.36	0.33	0.43	0.26	0.14	0.07	0.18	0.23	0.15	0.21	0.32	0.29
EV/EBITDA Average	4.15	5.04	11.33	21.33	21.97	-15.41	5.09	4.67	-28.57	2.09	3.1	4.33	4.91	26.17	7.78
EV/EBITDA High	5.46	6.03	12.88	24.55	26.2	-18.98	6.12	7.23	-40.76	3.69	4.13	5.51	6.35	30.1	9.2
EV/EBITDA Low	2.95	4.13	8.94	16.58	15.78	-12.84	4.4	2.86	-9.82	1.32	2.23	3.44	3.86	23.07	6.27
EV/EBIT Average	4.78	6.03	19.67	80.12	1,595.3	-9.57	6.29	5.44	-11.24	2.22	3.25	4.84	5.53	57.1	8.94
EV/EBIT High	6.29	7.21	22.37	92.21	1,902.33	-11.79	7.56	8.42	-16.04	3.93	4.32	6.18	7.14	65.66	10.57
EV/EBIT Low	3.4	4.94	15.53	62.28	1,145.9	-7.98	5.43	3.33	-3.86	1.41	2.33	3.85	4.34	50.34	7.2
Last Price	10.95	9.95	8.43	6.2	5.42	6.45	5.87	7.67	4.41	8.09	8.81	11.34	18.74	14.89	17.72
High Price	12.95	11.98	10.36	8.8	6.95	7.29	6.8	11.47	8.05	9.9	15.63	13.38	19.33	19.52	24.37
Enterprise Value Average	58	55	49	50	37	40	36	44	28	35	93	102	136	159	229
Enterprise Value High	76	66	55	58	44	50	44	68	40	62	123	130	175	183	271
Enterprise Value Low	41	45	38	39	27	34	31	27	10	22	66	81	107	140	185

Shares Outstanding	7	7	7	7	7	7	7	7	7	7	7	7	7	7	7
Diluted Weighted Avg Shares	7	7	7	7	7	7	7	7	7	7	7	7	7	7	7
Basic Weighted Avg Shares	7	7	7	7	7	7	7	7	7	7	7	7	7	7	7
Revenue per Share	23.76	20.07	17.08	15.93	12.01	11.35	17.28	26.7	20.3	17.94	43.06	74.65	71.14	64.02	92.86
EBITDA per Share	2.05	1.6	0.63	0.35	0.25	-0.38	1.02	1.35	-0.14	2.39	4.5	3.22	3.8	0.87	4.23
Operating Income per Share	1.78	1.34	0.36	0.09	- -	-0.61	0.82	1.16	-0.36	2.24	4.31	2.87	3.38	0.4	3.68
Basic EPS, GAAP	1.2	0.9	0.25	0.06	0.04	-0.39	0.56	0.73	-0.75	1.63	2.12	2.91	2.39	0.88	2.8
Basic EPS from Cont Ops	1.2	0.9	0.25	0.06	0.04	-0.39	0.56	0.73	-0.75	1.63	2.12	2.91	2.39	0.88	2.8
Diluted EPS, GAAP	1.2	0.9	0.25	0.06	0.04	-0.39	0.56	0.73	-0.75	1.63	2.12	2.91	2.39	0.88	2.8
Diluted EPS from Cont Ops	1.2	0.9	0.25	0.06	0.04	-0.39	0.56	0.73	-0.75	1.63	2.12	2.91	2.39	0.88	2.8
Dividend per Share	0.5	1.02	0.26	0.08	0.04	0.04	0.04	0.17	0.12	0.08	0.08	0.08	0.08	0.16	0.16
Cash Flow per Share	1.24	1.69	0.43	-0.94	0.45	-0.03	0.46	1.37	1.6	1.2	-2.02	8.71	0.69	-0.64	1.23
Free Cash Flow per Basic Share	1.2	1.62	0.15	-1.8	0.13	-0.15	0.41	1.26	0.9	0.54	-3.24	6.47	-0.11	-1.36	0.2
Cash & Equivalents per Share	1.75	2.34	2.22	0.33	0.41	0.21	0.58	1.67	2.41	1.19	0.38	0.41	0.41	0.53	0.34
Book Value per Share	9.33	9.26	9.31	9.3	9.3	8.61	9.78	10.39	9.46	9.47	11.62	15.65	18.27	19	21.3
Tangible Book Value per Share	9.33	9.26	9.31	9.3	9.3	8.61	9.78	10.39	9.46	9.47	11.62	15.65	18.27	19	21.3

Friedman Industries, Incorporated

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)