Friedman Industries (Friedman Industries) EBIT : $27.5 Mil (TTM As of Dec. 2023)

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What is Friedman Industries EBIT?

Friedman Industries's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $2.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $27.5 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Friedman Industries's annualized ROC % for the quarter that ended in Dec. 2023 was 12.83%. Friedman Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.64%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Friedman Industries's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 15.34%.

Friedman Industries EBIT Historical Data

The historical data trend for Friedman Industries's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Friedman Industries EBIT Chart

Friedman Industries Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

EBIT

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6.84

-6.83

15.25

18.59

30.41

Friedman Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															2.26	9.24	10.79	5.47	2.05

Competitive Comparison of Friedman Industries's EBIT

For the Steel subindustry, Friedman Industries's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Friedman Industries's EV-to-EBIT Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Friedman Industries's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Friedman Industries's EV-to-EBIT falls into.

Friedman Industries EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $27.5 Mil.

Friedman Industries (AMEX:FRD) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Friedman Industries's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	24.692 * ( 1 - 5.88% )	/	( (187.511	+	174.763)	/ 2 )
=	23.2401104	/	181.137
=	12.83 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	222.127	-	31.464	-	( 3.152	-	max(0, 35.292	-	165.162	+	3.152	))
=	187.511

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	228.955	-	50.183	-	( 4.009	-	max(0, 54.601	-	170.897	+	4.009	))
=	174.763

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Friedman Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	8.192	/	( ( (56.554 + max(126.826, 0))	+	(57.681 + max(112.368, 0)) )	/	2 )
=	8.192	/	( ( 183.38	+	170.049 )	/	2 )
=	8.192	/	176.7145
=	4.64 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(52.326	+	104.501	+	5.183)	-	(31.464	+	0	+	3.72)
=	126.826

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(44.422	+	113.901	+	8.565)	-	(50.183	+	0	+	4.337)
=	112.368

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Friedman Industries's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	27.547	/	179.548
	=	15.34 %

Friedman Industries EBIT Related Terms

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Friedman Industries (Friedman Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Friedman Industries Inc (AMEX:FRD) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

X36:Germany

Address

1121 Judson Road, Suite 124, Longview, TX, USA, 75601

Website

https://www.friedmanindustries.com

Friedman Industries Inc is engaged in the manufacturing and processing of steel products. The company's operating segments include Coil Products and Tubular Products. It generates maximum revenue from the Coil Products segment. The company's products and services include Temper Pass, Cut-To-Length, Whole Coils, Toll Processing, Electric Resistance Welded Pipe (ERW), New Mill Secondary, and Pipe Finishing Services.

Executives

Max Alan Reichenthal	director	865 LOCKWOOD DRIVE, HOUSTON TX 77020
Joel Spira	director	THREE GREENWAY PLAZA, SUITE 1750, HOUSTON TX 77046
Mike J Taylor	director	P.O. BOX 2192, LONGVIEW TX 75606
Sharon L Taylor	director	4200 B STONE RD, KILGORE TX 75662
Alex Larue	officer: VP - Secretary & Treasurer	7 PEBBLE CREEK DRIVE NORTH, LONGVIEW TX 75605
Durga D Agrawal	director	2921 UNIVERSITY BLVD, HOUSTON TX 77005
Sandra Kay Scott	director	11503 BISTRO LANE, HOUSTON TX 77082
Joe L Williams	director	P.O. BOX 1587, HOUSTON TX 77251
Tim Scott Stevenson	director	PO BOX 2192, LONGVIEW TX 75606
Robert Sparkman	officer: President & COO	P.O. BOX 2192, LONGVIEW TX 75605
Charles W Hall	director	1301 MCKINNEY STE 5100, HOUSTON TX 77010
Benny Harper	officer: Sr. VP-Finance	1301 MCKINNEY STE 5100, HOUSTON TX 77010
William E Crow	director, officer: President and CEO	P.O. BOX 1587, HOUSTON TX 77251
Hershel M Rich	director	P.O. BOX 1587, HOUSTON TX 77251
Harold Friedman	director, 10 percent owner, officer: Vice Chairman of the Board	4001 HOMESTEAD ROAF, HOUSTON TX 77028