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FRIEDMAN INDUSTRIES INC（FRD）与INSTEEL INDUSTRIES INC（IIIN）财务数据对比。点击上方公司名可切换其他公司
FRIEDMAN INDUSTRIES INC的季度营收约是INSTEEL INDUSTRIES INC的1.1倍（$168.0M vs $159.9M）。INSTEEL INDUSTRIES INC净利率更高（4.7% vs 1.8%，领先2.9%）。FRIEDMAN INDUSTRIES INC同比增速更快（78.6% vs 23.3%）。INSTEEL INDUSTRIES INC自由现金流更多（$-2.2M vs $-6.3M）。过去两年FRIEDMAN INDUSTRIES INC的营收复合增速更高（33.6% vs 12.0%）
赫尔曼与弗里德曼（H&F）是一家美国私募股权公司，由沃伦·赫尔曼与塔利·弗里德曼于1984年创立，主要通过杠杆收购及成长资本开展投资业务，核心投资方向覆盖传媒、金融服务、专业服务与信息服务等多个领域。
Insteel Industries Inc是美国领先的钢材加固产品制造商，主营焊接钢筋网、工程结构网、钢纤维等产品，主要服务北美地区非住宅建筑、基础设施、预制混凝土构件等领域客户，提供高性能建筑加固解决方案。
FRD vs IIIN — 直观对比
营收规模更大
FRD
是对方的1.1倍
$159.9M
营收增速更快
FRD
高出55.3%
23.3%
净利率更高
IIIN
高出2.9%
1.8%
自由现金流更多
IIIN
多$4.2M
$-6.3M
两年增速更快
FRD
近两年复合增速
12.0%
损益表 — Q3 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $168.0M | $159.9M |
| 净利润 | $3.0M | $7.6M |
| 毛利率 | 2.3% | 11.3% |
| 营业利润率 | 2.3% | 6.0% |
| 净利率 | 1.8% | 4.7% |
| 营收同比 | 78.6% | 23.3% |
| 净利润同比 | 364.1% | 602.4% |
| 每股收益（稀释后） | $0.43 | $0.39 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FRDIIIN
| Q4 25 | $168.0M | $159.9M | ||
| Q3 25 | $152.4M | $177.4M | ||
| Q2 25 | $134.8M | $179.9M | ||
| Q1 25 | — | $160.7M | ||
| Q4 24 | $94.1M | $129.7M | ||
| Q3 24 | — | $134.3M | ||
| Q2 24 | $114.6M | $145.8M | ||
| Q1 24 | — | $127.4M |
净利润FRDIIIN
| Q4 25 | $3.0M | $7.6M | ||
| Q3 25 | $2.2M | $14.6M | ||
| Q2 25 | $5.0M | $15.2M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | $-1.2M | $1.1M | ||
| Q3 24 | — | $4.7M | ||
| Q2 24 | $2.6M | $6.6M | ||
| Q1 24 | — | $6.9M |
毛利率FRDIIIN
| Q4 25 | 2.3% | 11.3% | ||
| Q3 25 | 1.9% | 16.1% | ||
| Q2 25 | 5.2% | 17.1% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | -1.2% | 10.6% | ||
| Q1 24 | — | 12.3% |
营业利润率FRDIIIN
| Q4 25 | 2.3% | 6.0% | ||
| Q3 25 | 1.9% | 10.8% | ||
| Q2 25 | 5.2% | 11.0% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | -1.3% | 1.1% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | -1.2% | 6.0% | ||
| Q1 24 | — | 7.0% |
净利率FRDIIIN
| Q4 25 | 1.8% | 4.7% | ||
| Q3 25 | 1.5% | 8.2% | ||
| Q2 25 | 3.7% | 8.4% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | -1.2% | 0.8% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | 2.2% | 4.5% | ||
| Q1 24 | — | 5.4% |
每股收益（稀释后）FRDIIIN
| Q4 25 | $0.43 | $0.39 | ||
| Q3 25 | $0.32 | $0.74 | ||
| Q2 25 | $0.71 | $0.78 | ||
| Q1 25 | — | $0.52 | ||
| Q4 24 | $-0.17 | $0.06 | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | $0.37 | $0.34 | ||
| Q1 24 | — | $0.35 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $3.0M | $15.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $142.2M | $358.8M |
| 总资产 | $311.9M | $456.1M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FRDIIIN
| Q4 25 | $3.0M | $15.6M | ||
| Q3 25 | $4.6M | $38.6M | ||
| Q2 25 | $2.1M | $53.7M | ||
| Q1 25 | — | $28.4M | ||
| Q4 24 | $1.1M | $36.0M | ||
| Q3 24 | — | $111.5M | ||
| Q2 24 | $4.1M | $97.7M | ||
| Q1 24 | — | $83.9M |
股东权益FRDIIIN
| Q4 25 | $142.2M | $358.8M | ||
| Q3 25 | $139.3M | $371.5M | ||
| Q2 25 | $137.3M | $356.2M | ||
| Q1 25 | — | $341.4M | ||
| Q4 24 | $127.3M | $331.6M | ||
| Q3 24 | — | $350.9M | ||
| Q2 24 | $129.7M | $346.0M | ||
| Q1 24 | — | $340.6M |
总资产FRDIIIN
| Q4 25 | $311.9M | $456.1M | ||
| Q3 25 | $311.3M | $462.6M | ||
| Q2 25 | $219.1M | $471.9M | ||
| Q1 25 | — | $421.9M | ||
| Q4 24 | $210.3M | $404.7M | ||
| Q3 24 | — | $422.6M | ||
| Q2 24 | $222.8M | $414.6M | ||
| Q1 24 | — | $397.2M |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-4.7M | $-701.0K |
| 自由现金流经营现金流 - 资本支出 | $-6.3M | $-2.2M |
| 自由现金流率自由现金流/营收 | -3.8% | -1.4% |
| 资本支出强度资本支出/营收 | 1.0% | 0.9% |
| 现金转化率经营现金流/净利润 | -1.56× | -0.09× |
| 过去12个月自由现金流最近4个季度 | — | $439.0K |
8季度趋势，按日历期对齐
经营现金流FRDIIIN
| Q4 25 | — | $-701.0K | ||
| Q3 25 | — | $-17.0M | ||
| Q2 25 | $15.5M | $28.5M | ||
| Q1 25 | — | $-3.3M | ||
| Q4 24 | — | $19.0M | ||
| Q3 24 | — | $16.2M | ||
| Q2 24 | $-6.1M | $18.8M | ||
| Q1 24 | — | $1.4M |
自由现金流FRDIIIN
| Q4 25 | — | $-2.2M | ||
| Q3 25 | — | $-18.7M | ||
| Q2 25 | $13.7M | $26.9M | ||
| Q1 25 | — | $-5.5M | ||
| Q4 24 | — | $16.3M | ||
| Q3 24 | — | $14.5M | ||
| Q2 24 | $-7.1M | $15.5M | ||
| Q1 24 | — | $-580.0K |
自由现金流率FRDIIIN
| Q4 25 | — | -1.4% | ||
| Q3 25 | — | -10.6% | ||
| Q2 25 | 10.2% | 15.0% | ||
| Q1 25 | — | -3.5% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | -6.2% | 10.7% | ||
| Q1 24 | — | -0.5% |
资本支出强度FRDIIIN
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | 1.3% | 0.9% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | 0.9% | 2.2% | ||
| Q1 24 | — | 1.5% |
现金转化率FRDIIIN
| Q4 25 | — | -0.09× | ||
| Q3 25 | — | -1.17× | ||
| Q2 25 | 3.08× | 1.88× | ||
| Q1 25 | — | -0.32× | ||
| Q4 24 | — | 17.56× | ||
| Q3 24 | — | 3.48× | ||
| Q2 24 | -2.36× | 2.86× | ||
| Q1 24 | — | 0.20× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
FRD
| Prime Coil | $152.0M | 90% |
| Manufactured Pipe | $14.9M | 9% |
| Customer Owned | $1.1M | 1% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
