Does FRIEDMAN INDUSTRIES INC have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores FRIEDMAN INDUSTRIES INC (FRD) 20.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 22, balance-sheet safety 28, capital discipline 43.

Is FRD stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $10.73 per share versus a recent price of $34.09 — 218% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has FRD's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 20.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

FRIEDMAN INDUSTRIES INC

FRD · Industrials · $240.7M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power0

Median gross margin 6.3% over 10y, variable.

Returns on capital22

Median ROIC 7.0%, above the 9% hurdle in 40% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage 1x.

Capital discipline43

Owner earnings trend unclear, share count flat.

Margin of safety

Above valueOn sale

218% above value

Owner earnings (normalized): $6.8M
Est. intrinsic value / share: $10.73
Recent price: $34.09
Discount to value: 218% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Fundamentals

There's no normalized fundamentals series for FRD yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale20.8 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — FRD has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Industrials context

#256 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#254EFOI ENERGY FOCUS, INC/DE21.2 out of 100, No moatNo moat
#255SCWO 374WATER INC.21.1 out of 100, No moatNo moat
#257FLR FLUOR CORPORATION20.8 out of 100, No moatNo moat
#258CHSCP CHS Inc.20.7 out of 100, No moatNo moat

Compare FRD with its nearest peers →All Industrials companies on the Index →

Common questions about FRD

Does FRIEDMAN INDUSTRIES INC have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores FRIEDMAN INDUSTRIES INC (FRD) 20.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 22, balance-sheet safety 28, capital discipline 43.
Is FRD stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $10.73 per share versus a recent price of $34.09 — 218% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has FRD's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 20.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Embed this score on your site

One iframe, no script. The badge shows FRD’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/FRD"
  width="340" height="150" style="border:0"
  title="FRD Moat Score — The Moat Index"
  loading="lazy"></iframe>

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell FRD. See the disclaimer.