← 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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net earnings | ($2.7m) |
$2.8m
+203.01%
|
$5.1m
+84.82%
|
($5.2m)
-202.93%
|
$11.4m
+317.64%
|
$14.1m
+23.12%
|
$21.3m
+51.74%
|
$17.3m
-18.74%
|
$6.1m
-64.92%
|
$19.5m
+221.00%
|
— | |
| Depreciation and amortization | $1.6m | $1.4m | $1.3m | $1.5m | $1.0m | $1.3m | $2.5m | $3.1m | $3.3m | $3.8m | $4.0m | |
| Amortization of right-of-use asset | — | — | — | — | — | — | $0 | $41k | $30k | $80k | — | |
| Deferred taxes | ($757k) | $1.3m | ($327k) | ($1.2m) | $1.3m | ($562k) | $3.3m | $794k | $221k | $1.3m | — | |
| Accounts receivable | ($4.1m) | ($8.5m) | $4.3m | $1.5m | ($8.7m) | ($15.3m) | ($13.7m) | $2.0m | ($147k) | ($19.3m) | ($27.1m) | |
| Inventories | $7.0m | ($3.1m) | ($3.7m) | $12.4m | ($622k) | ($31.9m) | $59.2m | ($29.6m) | $2.1m | ($23.9m) | ($53.0m) | |
| Accounts payable and accrued expenses | ($473k) | $8.2m | $1.3m | ($2.7m) | $5.4m | $22.0m | ($18.9m) | $7.0m | ($8.6m) | $22.2m | $42.8m | |
| Other current assets | ($913k) | $913k | ($114k) | ($237k) | $454k | ($124k) | ($1.4m) | $1.2m | $442k | ($826k) | ($679k) | |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | ($203k) |
$3.2m
+1701.39%
|
$9.6m
+196.80%
|
$11.2m
+16.62%
|
$8.4m
-24.98%
|
($13.4m)
-258.99%
|
$63.9m
+576.90%
|
$5.0m
-92.21%
|
($4.4m)
-188.57%
|
$8.5m
+293.65%
|
$365k
-95.73%
|
|
| Gain on disposal of property, plant and equipment | — | — | — | — | — | — | — | $0 | ($258k) | $0 | — | |
| Purchase of property, plant and equipment | ($799k) | ($349k) | ($808k) | ($4.9m) | ($4.6m) | ($8.1m) | ($16.5m) | ($5.8m) | ($4.0m) | ($7.2m) | — | |
| Deposit on steel processing equipment | — | — | — | — | — | — | — | $0 | ($1.0m) | $0 | — | |
| NET CASH USED IN INVESTING ACTIVITIES | ($858k) | ($374k) | ($826k) | ($5.0m) | ($4.6m) | ($7.9m) | ($88.2m) | ($5.8m) | ($3.4m) | ($52.8m) | ($52.1m) | |
| Debt issuance cost | — | — | — | — | — | $0 | ($393k) | $0 | $0 | ($395k) | — | |
| Borrowings on asset based lending facility | — | — | — | — | $0 | $18.4m | $14.7m | $831.4m | $649.5m | $779.7m | — | |
| Cash dividends paid | ($274k) | ($280k) | ($1.2m) | ($840k) | ($564k) | ($551k) | ($589k) | ($581k) | ($1.1m) | ($1.1m) | ($1.1m) | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | ($274k) |
($280k)
-2.30%
|
($1.2m)
-325.00%
|
($890k)
+25.35%
|
($702k)
+21.10%
|
$17.2m
+2556.82%
|
$13.6m
-21.38%
|
$1.3m
-90.14%
|
$6.1m
+355.87%
|
$43.3m
+610.42%
|
$56.8m
+31.27%
|
|
| CASH AND RESTRICTED CASH AT BEGINNING OF PERIOD | $17.1m | $20.2m | $16.1m | $5.4m | $5.9m | $4.1m | $3.2m | |||||
| Repayments on asset based lending facility | — | — | — | — | — | — | ($726.3m) | ($824.3m) | ($642.1m) | ($734.8m) | — | |
| DECREASE IN CASH AND RESTRICTED CASH | $5.4m | $3.1m | ($4.1m) | ($10.7m) | $511k | ($1.7m) | ($918k) | |||||
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Compensation expense for restricted stock | $72k | $289k | $138k | $333k | $528k | $449k | $303k | $246k | $151k | $683k | — | |
| Change in post-retirement benefits | $58k | $10k | $35k | $11k | $9k | $11k | $8k | $9k | $10k | ($19k) | — | |
| Change in cash surrender value of officers’ life insurance | — | — | — | — | — | — | — | — | ($7k) | $15k | — | |
| Loss (gain) recognized on open derivatives not designated for hedge accounting | — | — | — | — | $0 | $1.2m | $459k | ($64k) | ($2.0m) | $622k | — | |
| Gain on fair value adjustment to contingent consideration | — | — | — | — | — | — | — | — | $0 | ($1.4m) | — | |
| Income taxes payable | — | $414k | $160k | ($160k) | $1.5m | ($1.5m) | $774k | $1.4m | ($1.6m) | ($647k) | — | |
| Employee compensation and related expenses | ($37k) | $371k | ($315k) | $112k | $2.2m | ($1.6m) | $3.6m | $1.3m | ($4.2m) | $6.5m | — | |
| Cash paid for Century business combination | — | — | — | — | — | — | — | — | $0 | ($45.6m) | — | |
| Proceeds from sale of assets | — | — | — | — | $31k | $161k | $0 | $0 | $1.6m | $0 | — | |
| Cash paid for principal portion of finance lease | — | — | — | ($50k) | ($101k) | ($103k) | ($105k) | ($107k) | ($54k) | $0 | — | |
| Cash paid for share repurchases | — | — | — | — | ($1.7m) | ($538k) | ($37k) | ($5.2m) | ($171k) | ($10k) | — |