RELIANCE, INC. RS

Industrials SIC 5051 - Wholesale-Metals Service Centers & of fices NAICS Wholesale Trade › Merchant Wholesalers, Durable Goods › Metal and Mineral (except Petroleum) Merchant Wholesalers › Metal Service Centers and Other Metal Merchant Wholesalers derived NYSE

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:

As of December 31, 2025, we operated through a network of approximately 310 locations in 41 U.S. states and 10 foreign countries. We distribute a full line of over 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and other specialty steel products.

Last close 415.62 2026-10-23
Market cap $21.22B 2026-03-31 share count
52-week range 263.12 - 435.00

Valuation FY2025 figures against the last close

P/S1.5x
P/E29.7x
P/FCF42.2x
EV/EBITDA17.4x
Dividend yield—
Diluted EPS13.98

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Metals Service Centers - United States
  • Metals Service Centers - Foreign Countries
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Metals Service Centers - United States, FY2025: 13.4B (94.0%) 94% Metals Service Centers - United States Metals Service Centers - Foreign Countries, FY2025: 864.6M (6.0%) 6% FY2024 Metals Service Centers - United States, FY2024: 12.9B (93.5%) 93% Metals Service Centers - Foreign Countries, FY2024: 901.1M (6.5%) 7% FY2023 Metals Service Centers - United States, FY2023: 13.8B (93.1%) 93% Metals Service Centers - Foreign Countries, FY2023: 1B (6.9%) 7%
Segment FY2025FY2024FY2023
Metals Service Centers - United States $13.43B $12.93B $13.79B
Metals Service Centers - Foreign Countries $864.6M $901.1M $1.02B

As the company reported it, from the “SEGMENT INFORMATION - Geographic Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $14.29B$13.84B$14.81B$17.02B$14.09B$8.81B$10.97B$11.53B$9.72B$8.61B
Cost of revenue ———————$8.25B$6.93B$6.02B
Gross profit ———————$3.28B$2.79B$2.59B
SG&A $2.81B$2.67B$2.56B$2.50B$2.31B$1.87B$2.10B$2.09B$1.90B$1.80B
Total operating expenses $13.28B$12.68B$13.07B$14.52B$12.14B$8.25B$9.96B$10.60B$9.06B$8.10B
Operating income $1.01B$1.16B$1.74B$2.51B$1.95B$565.8M$1.01B$937.5M$662.4M$517.8M
Interest expense $55.7M$40.3M$40.1M$62.3M$62.7M$62.9M$85.0M$86.2M$73.9M$84.6M
Pre-tax income $969.2M$1.14B$1.74B$2.43B$1.88B$478.2M$929.3M$850.6M$583.8M$429.2M
Income tax $227.6M$261.9M$400.6M$586.2M$465.7M$105.8M$223.2M$208.8M$37.2M$120.1M
Net income $739.4M$875.2M$1.34B$1.84B$1.42B$372.4M$706.1M$641.8M$621.0M$309.1M
EPS, basic 14.0715.7022.9030.3922.355.7410.498.858.424.21
EPS, diluted 13.9815.5622.6429.9221.975.6610.348.758.344.16
Shares, diluted (wtd. avg.) 52.9M56.2M59.0M61.5M64.3M65.3M67.9M72.4M73.5M73.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $216.6M$318.1M$1.08B$1.17B$300.5M$683.5M$174.3M$128.2M$154.4M$122.8M
Receivables $1.54B$1.34B$1.47B$1.57B$1.68B$926.3M$1.07B$1.24B$1.09B$960.2M
Inventory $2.19B$2.03B$2.04B$2.00B$2.06B$1.42B$1.65B$1.82B$1.73B$1.53B
Total current assets $4.14B$3.90B$4.77B$4.89B$4.16B$3.11B$3.01B$3.29B$3.05B$2.69B
Property, plant and equipment $2.63B$2.54B$2.25B$1.97B$1.84B$1.79B$1.80B$1.73B$1.66B$1.66B
Goodwill $2.17B$2.16B$2.11B$2.11B$2.11B$1.94B$2.00B$1.87B$1.84B$1.83B
Other intangibles $960.1M$1.01B$981.1M$1.02B$1.08B$947.1M$1.03B$1.07B$1.11B$1.15B
Total assets $10.37B$10.02B$10.48B$10.33B$9.54B$8.11B$8.13B$8.04B$7.75B$7.41B
Accounts payable $375.2M$361.9M$410.3M$412.4M$453.9M$259.3M$275.0M$338.8M$346.7M$302.2M
Short-term debt $700.0K$399.7M$300.0K————$65.2M$92.0M$82.5M
Total current liabilities $848.1M$1.21B$843.6M$1.38B$1.06B$613.0M$675.3M$699.1M$703.7M$656.0M
Long-term debt $1.42B$742.8M$1.14B$1.14B$1.64B$1.64B$1.52B$2.14B$1.81B$1.85B
Total liabilities $3.19B$2.79B$2.75B$3.23B——————
Retained earnings $7.26B$7.33B$7.80B$7.17B$6.16B$5.19B$5.19B$4.64B$4.14B$3.66B
Total equity $7.17B$7.22B$7.73B$7.10B$6.09B$5.12B$5.21B$4.68B$4.70B$4.18B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $831.4M$1.43B$1.67B$2.12B$799.4M$1.17B$1.30B$664.6M$399.0M$626.5M
Depreciation and amortisation $278.2M$268.7M$245.4M$240.2M$230.2M$227.3M$219.3M$215.2M$218.4M$222.0M
Stock-based compensation $55.6M$56.8M$65.0M$65.3M$70.8M$42.2M$51.2M$45.5M$33.4M$24.4M
Capital expenditure $328.9M$430.6M$468.8M$341.8M$236.6M$172.0M$242.2M$239.9M$161.6M$154.9M
Investing cash flow -$321.8M-$803.7M-$483.9M-$348.5M-$652.3M-$188.4M-$419.1M-$281.0M-$179.4M-$505.1M
Financing cash flow -$620.2M-$1.38B-$1.28B-$892.6M-$528.9M-$483.0M-$840.6M-$403.9M-$198.1M-$100.2M
Buybacks $594.1M$1.09B$479.5M$630.3M$323.5M$337.3M$50.0M$484.9M$25.0M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-020651.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B 20B Revenue, FY2016: 8.6B Gross profit, FY2016: 2.6B Net income, FY2016: 309.1M Revenue, FY2017: 9.7B Gross profit, FY2017: 2.8B Net income, FY2017: 621M Revenue, FY2018: 11.5B Gross profit, FY2018: 3.3B Net income, FY2018: 641.8M Revenue, FY2019: 11B Net income, FY2019: 706.1M Revenue, FY2020: 8.8B Net income, FY2020: 372.4M Revenue, FY2021: 14.1B Net income, FY2021: 1.4B Revenue, FY2022: 17B Net income, FY2022: 1.8B Revenue, FY2023: 14.8B Net income, FY2023: 1.3B Revenue, FY2024: 13.8B Net income, FY2024: 875.2M Revenue, FY2025: 14.3B Net income, FY2025: 739.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $8.61B $9.72B $11.53B $10.97B $8.81B $14.09B $17.02B $14.81B $13.84B $14.29B
Gross profit $2.59B $2.79B $3.28B — — — — — — —
Net income $309.1M $621.0M $641.8M $706.1M $372.4M $1.42B $1.84B $1.34B $875.2M $739.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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