{"url_path":"/sec/frd/10-k/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-11","source_url":"https://www.sec.gov/Archives/edgar/data/39092/0001437749-26-020323-index.html","accession_number":"0001437749-26-020323","cik":"0000039092","ticker":"FRD","issuer_name":"FRIEDMAN INDUSTRIES INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/39092/0001437749-26-020323-index.html","primary_entity_key":"0000039092","primary_entity_name":"FRIEDMAN INDUSTRIES INC"},"word_count":740,"has_tables":true,"body_markdown":"frd20260331c_10k.htm\n\n0000039092\nFRIEDMAN INDUSTRIES INC\nfalse\n--03-31\nFY\n2026\nFRIEDMAN INDUSTRIES INC\ntrue\ntrue\ntrue\nfalse\nfalse\nfalse\nfalse\nfalse\ntrue\ntrue\ntrue\n\n00000390922025-09-30\n\n00000390922026-06-11\n\n \n\n \n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\n**FORM 10-K**\n\n \n\n☒\n\nAnnual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended March 31, 2026\n\n \n\n☐\n\nTransition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from                     to                    \n\n \n\nCommission File No. 1-7521\n\n \n\n**FRIEDMAN INDUSTRIES, INCORPORATED**\n\n(Exact name of registrant as specified in its charter)\n\n \n\n**Texas**\n\n**74-1504405**\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n(I.R.S. Employer\n\nIdentification No.)\n\n  \n\n**1121 Judson Road Suite 124, Longview****, TX**\n\n**75601**\n\n(Address of principal executive offices)\n\n(Zip Code)\n\n \n\nRegistrant’s telephone number, including area code: **(****903****) ****758-3431******\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\n**Title of each class**\n**Trading Symbol**\n**Name of each exchange    on which registered   **\n\nCommon Stock, $1 Par Value\nFRD\nNasdaq Global Select Market\n\n \n\nSecurities registered pursuant to Section 12(g) of the Act:\n\nNone\n\n \n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\n\nYes  ☐        No  ☒\n\n \n\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\n\n     Yes  ☐        No  ☒   \n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\n\nYes  ☒       No  ☐          \n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\n\n               Yes  ☒      No  ☐         \n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer  ☐\n\nAccelerated filer  ☒\n\nNon-accelerated filer  ☐\n\nSmaller reporting company  ☒\n\nEmerging growth company ☐\n   \n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\n\nYes  ☒                 No  ☐\n\n \n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐\n\n \n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).\n\nYes  ☐                 No  ☒   \n\n \n\nThe aggregate market value of the Common Stock held by non-affiliates of the registrant as of September 30, 2025 was approximately $146.7 million.\n\n \n\nThe number of shares of the registrant’s Common Stock outstanding at June 11, 2026 was 7,107,491 shares.\n\n \n\n \n\n \n\n \n\n \n\n \n\n**DOCUMENTS INCORPORATED BY REFERENCE**\n\n \n\nPortions of the Annual Report to Shareholders of Friedman Industries, Incorporated for the fiscal year ended March 31, 2026, filed as Exhibit 13.1 to this Annual Report on Form 10-K, are incorporated by reference into Part II and Part III of this Annual Report on Form 10-K. Portions of the Company's definitive proxy statement relating to its 2026 Annual Meeting of Shareholders to be filed within 120 days after March 31, 2026 are incorporated by reference into Part III of this Annual Report on Form 10-K.\n\n \n\n**PART I**"}