A Business at a Glance
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ITEM 1. BUSINESS Reliance operates a network of companies providing diversified metal solutions and is the largest metals service center company in North America (U.S. and Canada) based on revenues, with 2025 net sales of $14.29 billion. We have been in business over 85 years since our original organization on February 3, 1939, operating a single metals service center in Los Angeles, California fabricating steel reinforcing bar. Our common stock has traded on the New York Stock Exchange (“NYSE”) for over 30 years under the symbol “RS” since our September 16, 1994 initial public offering. We believe we have a unique and sustainable business model predicated on the following key attributes: ●Diversity of Products, Customers and Services As of December 31, 2025, we operated through a network of approximately 310 locations in 41 U.S. states and 10 foreign countries.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 14.3B | 14.3B | 13.8B | 14.8B | 17.0B | 14.1B |
| Net Income | 739M | 739M | 875M | 1.3B | 1.8B | 1.4B |
| EPS | $13.98 | $13.98 | $15.56 | $22.64 | $29.92 | $21.97 |
| Free Cash Flow | 502M | 502M | 999M | 1.2B | 1.8B | 563M |
| ROIC | 8.9% | 9.3% | 11.1% | 17.8% | 25.9% | 21.4% |
| Gross Margin | 28.7% | 28.7% | 29.7% | 30.7% | 30.8% | 31.9% |
| Debt/Equity | 0.24 | 0.24 | 0.20 | 0.18 | 0.19 | 0.31 |
| Dividends/Share | $0.00 | $4.80 | $4.40 | $4.00 | $3.50 | $2.75 |
| Operating Income | 1.0B | 1.0B | 1.2B | 1.7B | 2.5B | 1.9B |
| Operating Margin | 7.1% | 7.1% | 8.4% | 11.7% | 14.7% | 13.8% |
| ROE | 10.3% | 10.3% | 11.7% | 18.0% | 27.9% | 25.2% |
| Shares Outstanding | 53M | 53M | 56M | 59M | 62M | 64M |
RELIANCE, INC. passes 6 of 9 quality checks, suggesting mixed fundamentals.
RELIANCE, INC. trades at 23.1x trailing earnings, compared to its 15-year median P/E of 11.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 33.3x vs a median of 12.0x. The company's 5-year average ROIC is 17.1% with a gross margin of 30.4%. Total shareholder yield (dividends + buybacks) is 5.0%. At current prices, the estimated annualized return to fair value is +11.4%.
RELIANCE, INC. (RS) has a current P/E ratio of 23.1, compared to its historical median P/E of 11.2. The stock is currently considered Expensive based on its historical valuation range.
RELIANCE, INC. (RS) has a 5-year average return on invested capital (ROIC) of 17.1%. This indicates strong capital allocation and a potential competitive advantage.
RELIANCE, INC. (RS) has a market capitalization of $17.1B. It is classified as a large-cap stock.
Yes, RELIANCE, INC. (RS) pays a dividend with a trailing twelve-month yield of 1.48%. The company also returns capital through share buybacks, with a buyback yield of 3.47%.
Based on historical P/E analysis, RELIANCE, INC. (RS) appears expensive. The current P/E of 23.1 is 106% above its historical median of 11.2. The estimated fair value CAGR (P/E method) is 16.0%.
RELIANCE, INC. (RS) operates in the Wholesale-Metals Service Centers & Of Fices industry, within the Consumer Cyclical sector.
RELIANCE, INC. (RS) reported annual revenue of $14.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
RELIANCE, INC. (RS) has a net profit margin of 5.2%. This is a modest margin.
RELIANCE, INC. (RS) generated $502 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
RELIANCE, INC. (RS) has a debt-to-equity ratio of 0.24. This indicates a conservatively financed balance sheet.
RELIANCE, INC. (RS) reported earnings per share (EPS) of $13.98 in its most recent fiscal year.
RELIANCE, INC. (RS) has a return on equity (ROE) of 10.3%. This indicates moderate shareholder returns.
RELIANCE, INC. (RS) has a 5-year average gross margin of 30.4%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for RELIANCE, INC. (RS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
RELIANCE, INC. (RS) has a book value per share of $135.57, based on its most recent annual SEC filing.