Pricing Log in Create free account
Monday 2 November 2026 Export RS’s income statement to Excel — free account

Reliance, Inc.

RS Basic Materials Steel

Reliance, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.3 billion, up 3.32% from fiscal 2024.

Revenue
+26.5%
EPS
+42.6%
Free cash flow
−45.4%
Total debt
+16.7%

Quarter to June 2026, against a year earlier

448.33 11.42 +2.61%
Market cap
$22.3B
P/E
25.2×
Fwd P/E
16.3×
Dividend yield
1.42%
F-score
6/9
Altman Z
5.91
Beneish M
−2.45
Dividend safety
90/100
Overview Business Profile
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Revenue by segment Fiscal 2025

  • Metals Service Centers

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 15.06
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 1 — 1 — — 2 1 — 1 —
Insider Ownership 0.67%

Capital & Financial Ratios $m

Size
Market Cap 22,260.00
Revenue ttm 15,805.80
Net income ttm 896.10
Free cash flow ttm 559.20
Net debt Q 1,428.50
Valuation
P/E 25.24
Forward P/E 16.30
Price / sales 1.41
Forward P/S Powerpack
Price / FCF 39.89
Price / book 3.01
Financial health
Current ratio Q 4.30 (at or above 1.5: strong)
Debt / equity Q 0.22 (at or below 0.5: strong)
Interest coverage Q 24.26
Growth
Revenue growth Q +26.51% (above 0%: growing)
Operating income growth Q +41.45% (above 0%: growing)
EPS, this year +85.05% (at or above 15%: strong)
EPS, next year A −2.56% (below 0%: weak)
Revenue, next year A +32.23% (at or above 10%: strong)
EPS, past 5 yrs +19.82% (at or above 15%: strong)
EPS, next 5 yrs A +16.31% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 0.9×; over the ten years it ranged from 0.6× in 2018 to 1.5× in 2026.
P/E against its own 10 years 98.68%
10-year low 10-year high
P/S against its own 10 years 99.74%
10-year low 10-year high
P/B against its own 10 years 99.93%
10-year low 10-year high
EV/Sales against its own 10 years 99.67%
10-year low 10-year high
EV/FCF against its own 10 years 99.93%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.42%
Annual rate
6.20
Payout ratio
36.1%
Growth, 2017–26
+12.0%/yr
  1. 1.80 ’17
  2. 2.00 ’18 +11%
  3. 2.20 ’19 +10%
  4. 2.50 ’20 +14%
  5. 2.75 ’21 +10%
  6. 3.50 ’22 +27%
  7. 4.00 ’23 +14%
  8. 4.40 ’24 +10%
  9. 4.80 ’25 +9%
  10. 5.00 ’26 +4%
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,080 318 217 235
Receivables 1,508 1,402 1,571 2,210
Inventory 2,043 2,027 2,188 2,325
Other — — — —
4,772 3,896 4,141 4,923
2023 2024 2025 Q'26
Payables 410 362 375 627
ST’ Debt 0 400 1 —
Other — — — —
844 1,213 848 1,146

Compound Annual Growth %

10y 5y 3y
Sales 4.34% 10.16% (5.66%)
Cash Flow (2.07%) (6.65%) (26.79%)
Earnings 9.03% 14.91% (26.21%)
Book Value 6.18% 6.98% 0.39%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 6.76 Actual 8.02

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.80 2.40 Miss by 0.40
Q1 FY26 4.63 5.16 Beat by 0.53
Q2 FY26 5.38 6.27 Beat by 0.89
Q3 FY26 6.76 8.02 Beat by 1.26
Q4 FY26 6.53 — Reports 17 February 2027

EPS $

Mar Jun Sep Dec Year
’26 5.10 6.29 — — —
’25 3.74 4.42 3.59 2.22 13.98
’24 5.23 4.67 3.61 1.93 15.56
’23 6.43 6.49 4.99 4.70 22.64
’22 8.33 9.15 6.45 5.88 29.92
’21 4.12 5.08 6.15 6.64 21.97
’20 0.92 1.24 1.51 2.01 5.66
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4,026 4,630 — — —
’25 3,485 3,660 3,651 3,499 14,294
’24 3,645 3,643 3,420 3,127 13,835
’23 3,965 3,880 3,623 3,337 14,806
’22 4,486 4,681 4,247 3,611 17,025
’21 2,838 3,419 3,847 3,989 14,093
’20 2,573 2,019 2,086 2,134 8,812
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 151 162 — — —
’25 65 229 262 276 831
’24 126 366 464 473 1,430
’23 385 295 466 526 1,671
’22 404 270 636 809 2,119
’21 162 102 142 394 799
’20 171 476 296 230 1,173
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 87 84 — — —
’25 (22) 154 182 206 520
’24 18 270 353 363 1,004
’23 282 165 341 427 1,214
’22 346 184 541 718 1,788
’21 139 27 88 345 599
’20 116 436 263 193 1,008
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 8,613 9,721 11,535 10,974 8,812 14,093 17,025 14,806 13,835 14,294 15,806 +5.8% 18,902 18,441 17,588 +7.2%
Gross margin, % 30.07 28.68 28.45 30.34 31.49 31.86 30.84 30.71 29.68 28.74 28.21 (1.3) pt
EBT 429 584 851 929 478 1,883 2,430 1,741 1,140 969 1,182 +9.5%
EBT margin, % 4.98 6.01 7.37 8.47 5.43 13.36 14.28 11.76 8.24 6.78 7.48 +1.8 pt
Net income 309 621 642 706 372 1,417 1,844 1,340 878 742 896 +10.2%
Per share, $
Per share, $ Revenue 119.03 133.44 161.05 164.07 136.98 222.94 281.13 253.84 248.18 271.99 309.61 +9.6%
Earnings 4.21 8.42 8.85 10.49 5.74 22.35 30.39 22.90 15.70 14.07 17.31 +14.3%
Cash flow 8.66 5.48 9.28 19.46 18.23 12.65 34.98 28.65 25.65 15.82 16.68 +6.9%
Capex (2.02) (1.84) (2.94) (3.50) (2.57) (3.17) (5.46) (7.85) (7.64) (5.93) (5.73) +12.7%
Free cash flow 6.64 3.64 6.34 15.96 15.67 9.47 29.52 20.81 18.01 9.89 10.95 +4.5%
Book value 57.75 64.51 65.34 77.96 79.63 96.39 117.17 132.57 129.71 136.61 145.18 +10.0%
Shares, m 72 73 72 67 64 63 61 58 56 53 52 (3.5%)
Valuation, ×
Valuation, × P/E 19.15 10.45 8.11 11.43 20.79 7.25 6.65 12.31 17.28 20.56 25.24 13.4
P/S 0.68 0.66 0.44 0.73 0.87 0.73 0.72 1.11 1.08 1.06 1.41 0.8
P/B 1.39 1.36 1.09 1.54 1.50 1.68 1.72 2.12 2.08 2.11 3.01 1.7
EV/Sales 0.89 0.84 0.62 0.86 0.98 0.82 0.74 1.11 1.14 1.15 1.50 0.9
EV/FCF 15.87 30.75 15.80 8.83 8.60 19.37 7.09 13.58 15.77 31.53 42.44 16.7
Cash, $m
Cash, $m Operating cash flow 627 399 665 1,302 1,173 799 2,119 1,671 1,430 831 852 +3.2%
Capex (146) (134) (211) (234) (165) (201) (331) (458) (426) (312) (292) +8.8%
Free cash flow 481 265 454 1,067 1,008 599 1,788 1,214 1,004 520 559 +0.9%
Balance, $m
Balance, $m Working capital 2,033 2,348 2,586 2,335 2,500 3,095 3,511 3,928 2,683 3,293 3,778 +5.5%
Net debt 1,806 1,747 2,076 1,414 961 1,347 474 62 824 1,204 1,429 (4.4%)
Shareholders’ equity 4,179 4,700 4,680 5,214 5,123 6,094 7,096 7,733 7,231 7,180 7,411 +6.2%
Returns, %
Returns, % ROA 4.19 8.09 8.02 8.67 4.55 16.02 18.53 12.84 8.54 7.25 8.25 +3.1 pt
ROIC 5.41 6.42 8.67 9.56 5.81 16.37 20.70 13.95 9.00 7.55 8.74 +2.1 pt
ROE 7.49 13.82 13.51 14.18 7.14 25.20 27.90 18.02 11.70 10.26 12.20 +2.8 pt
People
People Employees 14,500 14,900 15,600 15,300 12,800 13,700 14,500 15,000 15,900 15,700 — +0.9%
Revenue/emp, $m 0.59 0.65 0.74 0.72 0.69 1.03 1.17 0.99 0.87 0.91 — +4.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Business profile

Updated

Reliance, Inc. buys metal from producers, processes it to customer specifications and distributes it through a network of metals service centers. It is not a steel mill or other metals producer. Its products include carbon steel, aluminum, stainless steel, alloy, copper, brass and specialty metals. The company was founded in 1939, and Karla R. Lewis is its president and chief executive officer.

A metals service center acts as an intermediary between mills and metal users. Reliance stocks standard sizes and grades, then cuts, levels, saws or otherwise processes the metal to fit an order. More complex services include machining and electropolishing. It generally processes metal into non-standard sizes only after receiving a customer’s specifications.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Metals Service Centers 14,294 100.00%
Gross margin 28.74%
Operating margin 7.08%
Pre-tax margin 6.78%

Revenue by segment since 2009

Reliance, Inc. vs peers in Steel (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NUE Nucor Corporation $62.1B 21.8× 13.8× +22.95% (above 0%: growing) +94.23% (above 0%: growing) +549.46% (above 0%: growing) 19.56% 15.67% Compare
MT ArcelorMittal $45.1B 25.0× 19.6× +5.24% (above 0%: growing) −61.70% (below 0%: shrinking) −126.60% (below 0%: shrinking) 10.95% 6.29% Compare
STLD Steel Dynamics, Inc. $35.7B 22.6× 14.2× +33.44% (above 0%: growing) +84.58% (above 0%: growing) +2,189.86% (above 0%: growing) 15.74% 11.50% Compare
RS Reliance, Inc. $22.3B 25.2× 16.3× +26.51% (above 0%: growing) +42.57% (above 0%: growing) −45.43% (below 0%: shrinking) 28.09% 9.54%
PKX POSCO Holdings Inc. $15.0B 16.1× — +9.70% (above 0%: growing) +352.74% (above 0%: growing) −156.79% (below 0%: shrinking) 8.62% 4.25% Compare
TX Ternium S.A. $10.4B 14.8× 8.3× +9.97% (above 0%: growing) +59.09% (above 0%: growing) −174.72% (below 0%: shrinking) 21.68% 12.17% Compare
CLF Cleveland-Cliffs Inc. $8.1B — (loss-making) 216× +5.92% (above 0%: growing) n/m +208.96% (above 0%: growing) 2.53% (0.94%) Compare
GGB Gerdau S.A. $5.8B 20.3× — +14.33% (above 0%: growing) +87.50% (above 0%: growing) +171.99% (above 0%: growing) 15.83% 13.05% Compare
SIM Grupo Simec, S.A. de C.V. $4.3B 21.4× 28.5× +29.60% (above 0%: growing) n/m +51.13% (above 0%: growing) 24.99% 15.91% Compare
Median of peers $12.7B 21.4× 16.9× +12.15% +86.04% +111.56% 15.79% 11.84%

All 19 Steel stocks →

Pay and ownership Proxy statement filed 2 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 13.37m 15.63m 261.70
2024 13.48m 16.82m 239.90
2023 14.32m 23.78m 245.60
2022 14.94m 31.32m 175.10
2021 14.25m 47.24m 137.80

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 13.65%
BlackRock, Inc. 12.30%
State Street Corporation One Congress Street, Suite 5.32%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Reliance, Inc. (RS) Latest News

2 Nov

Impact 3 · · Bloomberg

1 Nov

Impact 3 · · Simply Wall St.

31 Oct

Impact 3 · · Simply Wall St.

30 Oct

Impact 3 · · The Motley Fool

29 Oct

Impact 4 · · Zacks

28 Oct

Impact 4 · · axios.com
Impact 4 · · axios.com

26 Oct

Impact 4 · · Zacks

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 3 · · Zacks

22 Oct

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · GlobeNewswire
Impact 4 · · Moby

21 Oct

Impact 4 · · Zacks
Impact 4 · · Zacks earnings
Impact 4 · · GlobeNewswire
Impact 3 · · Associated Press

19 Oct

Impact 4 · · Zacks

17 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

16 Oct

Impact 3 · · Zacks

14 Oct

Impact 4 · · Zacks

8 Oct

Impact 3 · · Simply Wall St.

6 Oct

Impact 4 · · TechCrunch
Impact 3 · · retail-insight-network.com
Impact 3 · · AFP

5 Oct

Impact 3 · · GlobeNewswire

30 Sep

Impact 3 · · TechCrunch

20 Sep

Impact 4 ·
stockrow.com/RS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com