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Friedman Industries vs Worthington Steel: revenue, profit, margins and growth compared

Friedman Industries brought in $444.6M of revenue in fiscal 2025, Worthington Steel $3.4B in fiscal 2026. Revenue changed by -13.9% at Friedman Industries and +11.3% at Worthington Steel on the year before, so Worthington Steel grew faster. Friedman Industries kept 1.4% of its revenue as net profit, Worthington Steel 0.2%. Free cash flow was -$8.4M at Friedman Industries and $80M at Worthington Steel.

Side by side, latest fiscal year

FRDWS
Fiscal year endedFY2025 (March 31, 2025)FY2026 (May 31, 2026)
Revenue$444.6M$3.4B
Revenue growth-13.9%+11.3%
Net income$6.1M$8.5M
Net margin1.4%0.2%
Free cash flow-$8.4M$80M
Free cash flow margin-1.9%2.3%
Earnings per share (diluted)$0.87$0.17
Cash$3.7M$84.6M
Debtn/a$71.4M
Price to earnings45.2213.3
Market value$283.8M$1.8B
Dividend yield0.41%1.77%
Rank by revenue in sector#334 of 451 · Industrials#161 of 451 · Industrials

Over the years

Revenue
FRD FY2017: $121.2MFRD FY2018: $187.2MFRD FY2019: $142.1MFRD FY2021: $126.1MFRD FY2022: $285.2MFRD FY2023: $547.5MFRD FY2024: $516.3MFRD FY2025: $444.6MWS FY2022: $4.1BWS FY2024: $3.6BWS FY2024: $3.4BWS FY2025: $3.1BWS FY2026: $3.4BFY17FY18FY19FY21FY22FY23FY24FY25FY26
FRD $444.6MWS $3.4B
Net income
FRD FY2017: $3.9MFRD FY2018: $5.1MFRD FY2019: -$5.2MFRD FY2021: $11.4MFRD FY2022: $14.1MFRD FY2023: $21.3MFRD FY2024: $17.3MFRD FY2025: $6.1MWS FY2022: $180.4MWS FY2024: $87.1MWS FY2024: $154.7MWS FY2025: $110.7MWS FY2026: $8.5MFY17FY18FY19FY21FY22FY23FY24FY25FY26
FRD $6.1MWS $8.5M
Net margin
FRD FY2017: 3.2%FRD FY2018: 2.7%FRD FY2019: -3.7%FRD FY2021: 9.1%FRD FY2022: 4.9%FRD FY2023: 3.9%FRD FY2024: 3.4%FRD FY2025: 1.4%WS FY2022: 4.4%WS FY2024: 2.4%WS FY2024: 4.5%WS FY2025: 3.6%WS FY2026: 0.2%FY17FY18FY19FY21FY22FY23FY24FY25FY26
FRD 1.4%WS 0.2%
Revenue growth
FRD FY2018: +54.5%FRD FY2019: -24.1%FRD FY2021: -11.3%FRD FY2022: +126.2%FRD FY2023: +92.0%FRD FY2024: -5.7%FRD FY2025: -13.9%WS FY2024: -11.3%WS FY2024: -4.9%WS FY2025: -9.8%WS FY2026: +11.3%FY18FY19FY21FY22FY23FY24FY25FY26
FRD -13.9%WS +11.3%
Free cash flow
FRD FY2017: $2.9MFRD FY2018: $8.8MFRD FY2019: $6.3MFRD FY2021: $3.8MFRD FY2022: -$21.5MFRD FY2023: $47.4MFRD FY2024: -$813KFRD FY2025: -$8.4MWS FY2022: $3.1MWS FY2024: $269.5MWS FY2024: $96.1MWS FY2025: $99.9MWS FY2026: $80MFY17FY18FY19FY21FY22FY23FY24FY25FY26
FRD -$8.4MWS $80M

Fiscal years as each company reports them; the two may end in different months.

Questions about Friedman Industries and Worthington Steel

Which is bigger by revenue, Friedman Industries or Worthington Steel?

Worthington Steel is bigger by revenue: $3.4B in fiscal 2026, against $444.6M for Friedman Industries in fiscal 2025.

Which keeps more of its revenue as profit, Friedman Industries or Worthington Steel?

Friedman Industries had a net margin of 1.4% in fiscal 2025; Worthington Steel had 0.2% in fiscal 2026.

Which grew revenue faster, Friedman Industries or Worthington Steel?

In their latest fiscal years revenue changed by -13.9% at Friedman Industries and +11.3% at Worthington Steel.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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