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FRIEDMAN INDUSTRIES INC（FRD）与Worthington Steel, Inc.（WS）财务数据对比。点击上方公司名可切换其他公司
Worthington Steel, Inc.的季度营收约是FRIEDMAN INDUSTRIES INC的5.2倍（$871.9M vs $168.0M）。Worthington Steel, Inc.净利率更高（2.2% vs 1.8%，领先0.3%）。FRIEDMAN INDUSTRIES INC同比增速更快（78.6% vs 18.0%）。Worthington Steel, Inc.自由现金流更多（$74.6M vs $-6.3M）。过去两年FRIEDMAN INDUSTRIES INC的营收复合增速更高（33.6% vs 3.9%）
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。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
FRD vs WS — 直观对比
营收规模更大
WS
是对方的5.2倍
$168.0M
营收增速更快
FRD
高出60.6%
18.0%
净利率更高
WS
高出0.3%
1.8%
自由现金流更多
WS
多$80.9M
$-6.3M
两年增速更快
FRD
近两年复合增速
3.9%
损益表 — Q3 2026 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $168.0M | $871.9M |
| 净利润 | $3.0M | $18.8M |
| 毛利率 | 2.3% | 10.7% |
| 营业利润率 | 2.3% | 2.5% |
| 净利率 | 1.8% | 2.2% |
| 营收同比 | 78.6% | 18.0% |
| 净利润同比 | 364.1% | 46.9% |
| 每股收益（稀释后） | $0.43 | $0.37 |
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FRDWS
| Q4 25 | $168.0M | $871.9M | ||
| Q3 25 | $152.4M | $872.9M | ||
| Q2 25 | $134.8M | $832.9M | ||
| Q1 25 | — | $687.4M | ||
| Q4 24 | $94.1M | $739.0M | ||
| Q3 24 | — | $834.0M | ||
| Q2 24 | $114.6M | — | ||
| Q1 24 | — | $805.8M |
净利润FRDWS
| Q4 25 | $3.0M | $18.8M | ||
| Q3 25 | $2.2M | $36.8M | ||
| Q2 25 | $5.0M | $55.7M | ||
| Q1 25 | — | $13.8M | ||
| Q4 24 | $-1.2M | $12.8M | ||
| Q3 24 | — | $28.4M | ||
| Q2 24 | $2.6M | — | ||
| Q1 24 | — | $49.0M |
毛利率FRDWS
| Q4 25 | 2.3% | 10.7% | ||
| Q3 25 | 1.9% | 13.2% | ||
| Q2 25 | 5.2% | 15.2% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | -1.2% | — | ||
| Q1 24 | — | 14.9% |
营业利润率FRDWS
| Q4 25 | 2.3% | 2.5% | ||
| Q3 25 | 1.9% | 5.5% | ||
| Q2 25 | 5.2% | 8.0% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | -1.3% | 2.6% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | -1.2% | — | ||
| Q1 24 | — | 8.2% |
净利率FRDWS
| Q4 25 | 1.8% | 2.2% | ||
| Q3 25 | 1.5% | 4.2% | ||
| Q2 25 | 3.7% | 6.7% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | -1.2% | 1.7% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | — | 6.1% |
每股收益（稀释后）FRDWS
| Q4 25 | $0.43 | $0.37 | ||
| Q3 25 | $0.32 | $0.72 | ||
| Q2 25 | $0.71 | $1.11 | ||
| Q1 25 | — | $0.27 | ||
| Q4 24 | $-0.17 | $0.25 | ||
| Q3 24 | — | $0.56 | ||
| Q2 24 | $0.37 | — | ||
| Q1 24 | — | $0.98 |
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 | $89.8M |
| 总债务越低越好 | — | $72.1M |
| 股东权益账面价值 | $142.2M | $1.1B |
| 总资产 | $311.9M | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资FRDWS
| Q4 25 | $3.0M | $89.8M | ||
| Q3 25 | $4.6M | $78.3M | ||
| Q2 25 | $2.1M | $38.0M | ||
| Q1 25 | — | $63.3M | ||
| Q4 24 | $1.1M | $52.0M | ||
| Q3 24 | — | $36.0M | ||
| Q2 24 | $4.1M | — | ||
| Q1 24 | — | $60.8M |
总债务FRDWS
| Q4 25 | — | $72.1M | ||
| Q3 25 | — | $73.4M | ||
| Q2 25 | — | $151.5M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $115.0M | ||
| Q3 24 | — | $122.2M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $147.2M |
股东权益FRDWS
| Q4 25 | $142.2M | $1.1B | ||
| Q3 25 | $139.3M | $1.1B | ||
| Q2 25 | $137.3M | $1.1B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $127.3M | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | $129.7M | — | ||
| Q1 24 | — | $937.6M |
总资产FRDWS
| Q4 25 | $311.9M | $2.1B | ||
| Q3 25 | $311.3M | $2.2B | ||
| Q2 25 | $219.1M | $2.0B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $210.3M | $1.7B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | $222.8M | — | ||
| Q1 24 | — | $1.8B |
负债/权益比FRDWS
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.16× |
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 | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $-6.3M | $74.6M |
| 自由现金流率自由现金流/营收 | -3.8% | 8.6% |
| 资本支出强度资本支出/营收 | 1.0% | 2.8% |
| 现金转化率经营现金流/净利润 | -1.56× | 5.28× |
| 过去12个月自由现金流最近4个季度 | — | $72.5M |
8季度趋势，按日历期对齐
经营现金流FRDWS
| Q4 25 | — | $99.3M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | $15.5M | $53.9M | ||
| Q1 25 | — | $53.8M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | — | $54.6M | ||
| Q2 24 | $-6.1M | — | ||
| Q1 24 | — | $44.7M |
自由现金流FRDWS
| Q4 25 | — | $74.6M | ||
| Q3 25 | — | $-35.7M | ||
| Q2 25 | $13.7M | $8.4M | ||
| Q1 25 | — | $25.2M | ||
| Q4 24 | — | $33.2M | ||
| Q3 24 | — | $33.1M | ||
| Q2 24 | $-7.1M | — | ||
| Q1 24 | — | $22.3M |
自由现金流率FRDWS
| Q4 25 | — | 8.6% | ||
| Q3 25 | — | -4.1% | ||
| Q2 25 | 10.2% | 1.0% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | -6.2% | — | ||
| Q1 24 | — | 2.8% |
资本支出强度FRDWS
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | 1.3% | 5.5% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | — | 2.8% |
现金转化率FRDWS
| Q4 25 | — | 5.28× | ||
| Q3 25 | — | -0.17× | ||
| Q2 25 | 3.08× | 0.97× | ||
| Q1 25 | — | 3.90× | ||
| Q4 24 | — | 5.31× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | -2.36× | — | ||
| Q1 24 | — | 0.91× |
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% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
