# L.B. Foster Company (FSTR)

> Source: Nexqual · https://nexqual.com/FSTR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, L.B. Foster Company (FSTR), nexqual.com/FSTR" · informational, not investment advice.

**Price:** USD 35.33 (-1.40% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 35.83 · day 34.99–35.57 · 52w 23.81–45.81 · market cap $372M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $558M, net income $11.4M (2.0% margin), free cash flow $47.1M (SEC filings).
- Valuation: P/E 32.7x (avg 70.3x at the last 3 fiscal year-ends), EV/EBITDA 11.5x, net debt $42.1M.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (1 analysts), mean target USD 44 (range 42–46).
- Total return with dividends: 1Y +31.7% vs S&P 500 +14.9%; 5Y +121.1% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.6, revenue estimate $152M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $514M | $497M | $544M | $531M | $540M | $558M |
| Gross profit | $86.3M | $89.6M | $112M | $118M | $114M | — |
| Operating income | $4.5M | -$7.2M | $9.1M | $20.5M | $21.9M | $24.3M |
| Net income | $3.6M | -$45.6M | $1.5M | $42.9M | $7.5M | $11.4M |
| EPS (diluted) | $0.34 | -$4.25 | $0.13 | $3.89 | $0.69 | — |
| Free cash flow | -$5.4M | -$18.2M | $32.4M | $12.8M | $25.2M | $47.1M |
| Gross margin | 16.8% | 18.0% | 20.6% | 22.2% | 21.1% | — |
| Operating margin | 0.9% | -1.4% | 1.7% | 3.9% | 4.1% | 4.4% |
| Net margin | 0.7% | -9.2% | 0.3% | 8.1% | 1.4% | 2.0% |
| Revenue growth | +3.3% | -3.1% | +9.3% | -2.4% | +1.7% | — |
| Cash + short-term investments | $10.4M | $2.9M | $2.6M | $2.5M | $4.3M | — |
| Total debt | $31.2M | $91.8M | $55.2M | $46.8M | $42.6M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 32.7x · P/S 0.7x · EV/EBITDA 11.5x · EV/Sales 0.7x · P/FCF 7.9x · P/B 2.1x · FCF yield 12.67% · Earnings yield 3.06% · Buyback yield (TTM) 3.33% · Net debt $42.1M · EV $414M
P/E at fiscal year-ends: Dec 2025 38.9x, Dec 2024 6.9x, Dec 2023 165.2x.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 1 analysts; mean target USD 44 (low 42, high 46).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +31.7% | +121.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +31.9% | +17.1% |
| Volatility (annualized) | 36.9% | 43.6% |
| Max drawdown | -24.1% (Jun 2026→Oct 2026) | -46.1% (Nov 2021→Dec 2022) |

## Peers (Railroads)
GBX (Greenbrier Companies, Inc. (The) USD 38.78 +2.89% · TRN (Trinity Industries, Inc.) USD 25.82 +2.34% · WAB (Westinghouse Air Brake Technolo) USD 276.47 -4.32% · CNI (Canadian National Railway Compa) USD 124.93 +2.36% · NSC (Norfolk Southern Corporation) USD 338.23 +3.09% · CP (Canadian Pacific Kansas City Li) USD 90.62 +2.86%

## More
Full page: https://nexqual.com/FSTR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Rail, Technologies, and Services | $72.0M | 52.0% | -5.2% | $3.0M | 4.2% |
| Infrastructure Solutions | $66.5M | 48.0% | -1.5% | $6.6M | 9.9% |
| — Precast Concrete Products (part of Infrastructure Solutions) | $47.1M | 34.0% | +2.1% | — | — |
| — Steel Products (part of Infrastructure Solutions) | $19.4M | 14.0% | -9.3% | — | — |
| Total revenue | $138.6M | 100% | — | $9.6M | 6.9% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Sales of goods | $117.1M | 84.5% | -9.2% |
| Rail Products | $34.6M | 25.0% | -27.3% |
| Global Friction Management | $24.1M | 17.4% | +18.1% |
| Sales of services | $21.4M | 15.5% | +47.8% |
| Technology Services and Solutions | $13.3M | 9.6% | +66.9% |
| Total revenue | $138.6M | 100% | — |
The lines above cover 152% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $481.4M | 89.2% | +5.9% |
| United Kingdom | $32.4M | 6.0% | -26.4% |
| Canada | $19.4M | 3.6% | -12.1% |
| Other Geographical Locations | $6.7M | 1.2% | -31.8% |
| Total revenue | $540.0M | 100% | — |

## Company outlook (8-K filed 2026-08-10)

- "Financial Guidance • Second quarter gross margin expanded 80 basis points to 22.3% despite 3.5% lower sales from last year • First six months gross margin expanded 60 basis points to 21.8% on 7.6% higher sales over last year • Second quarter net income increased $0.2 million over last year to $3.1 million;"
- "Adjusted EBITDA 1 of $16.8 million increased $2.8 million, or 19.6%, over last year • Generated quarterly operating cash flow of $17.9 million, improving Gross Leverage Ratio 1 to 1.0x • Backlog 1 increased 17.4% during the quarter supporting the Company's reaffirmed 2026 guidance PITTSBURGH, PA, August 10, 2026 – L.B."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.60 | $0.64 | -5.5% | $152.2M | 2 |
| Next quarter (ends 2026-12-31) | $0.58 | $0.56 | +5.4% | $150.4M | 2 |
| Current fiscal year (ends 2026-12-31) | $1.62 | $1.74 | -6.9% | $562.4M | 2 |
| Next fiscal year (ends 2027-12-31) | $2.02 | $1.98 | +2.3% | $576.6M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±11.9%; last 8 reports averaged ±10.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 72.8% | ±11.9% |