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Reliance Steel & Aluminum Co.

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Reliance Steel & Aluminum Co. • NYSE
$279.32 ▼ -0.45% (-1.27)
Market Cap $14.60 B
52w High $347.44
52w Low $250.07
Dividend Yield 4.80%
P/E 20.33
Volume 164.88K
Outstanding Shares 52.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.651B ▼ $771.8M ▲ $189.5M ▼ 5.19% ▼ $3.61 ▼ $332.6M ▼
Q2-2025 $3.66B ▲ $706M ▲ $233.7M ▲ 6.386% ▲ $4.44 ▲ $388.3M ▲
Q1-2025 $3.485B ▲ $690.2M ▲ $199.7M ▲ 5.731% ▲ $3.76 ▲ $342.6M ▲
Q4-2024 $3.127B ▼ $663M ▲ $105.3M ▼ 3.368% ▼ $1.95 ▼ $214.1M ▼
Q3-2024 $3.42B $659.9M $199.2M 5.824% $3.64 $339.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $261.2M ▲ $10.55B ▲ $3.234B ▼ $7.305B ▲
Q2-2025 $239.5M ▼ $10.49B ▲ $3.246B ▼ $7.234B ▲
Q1-2025 $277.8M ▼ $10.365B ▲ $3.251B ▲ $7.102B ▼
Q4-2024 $318.1M ▲ $10.022B ▼ $2.791B ▼ $7.22B ▼
Q3-2024 $314.6M $10.301B $2.94B $7.351B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $189.2M ▼ $261.8M ▲ $-73.9M ▼ $-165.2M ▲ $21.7M ▲ $180.6M ▲
Q2-2025 $235M ▲ $229M ▲ $-71.2M ▲ $-203.4M ▼ $-38.3M ▲ $141.4M ▲
Q1-2025 $200.5M ▲ $64.5M ▼ $-87.6M ▲ $-18.6M ▲ $-40.3M ▼ $-22.4M ▼
Q4-2024 $105.3M ▼ $473.3M ▲ $-130.3M ▼ $-327.7M ▲ $3.5M ▲ $362.4M ▲
Q3-2024 $201.3M $463.9M $-111.4M $-394.6M $-36.2M $351.1M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aluminum
Aluminum
 $530.00M ▲$610.00M ▲$620.00M ▲$620.00M ▲
Carbon steel
Carbon steel
 $1.68Bn ▲$1.90Bn ▲$2.04Bn ▲$2.03Bn ▼
Other and eliminations
Other and eliminations
 $80.00M ▲$70.00M ▼$80.00M ▲$80.00M ▲
Stainless steel
Stainless steel
 $470.00M ▲$500.00M ▲$490.00M ▼$490.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Reliance Steel’s earnings picture shows a classic cyclical story, but from a much higher base than a few years ago. Revenue and profits surged in 2021–2022 during a very strong steel and metals pricing environment, then eased back in 2023–2024 as the cycle cooled. Even after this pullback, sales and profits still sit well above pre‑2020 levels, which suggests the business has structurally improved, not just enjoyed a one‑off spike. Margins have come down from their peak years but remain healthy, helped by the focus on value‑added processing rather than just reselling metal. Profit per share followed the same pattern: extremely strong during the upcycle, now normalizing but still robust. Overall, the income statement reflects a profitable, cyclical industrial business that has managed the downshift without a collapse in performance.

Balance Sheet

Balance Sheet The balance sheet looks solid and conservative. Total assets have gradually increased over the past five years, and shareholder equity has steadily grown, which indicates that profits are being retained and the company is building book value over time. Debt levels have stayed fairly stable rather than climbing aggressively, which keeps financial leverage moderate. Cash balances move around from year to year, but there is no sign of liquidity stress in the figures provided. Taken together, Reliance appears to be financing its growth primarily from its own earnings, with manageable use of debt and a stronger equity base than it had several years ago.

Cash Flow

Cash Flow Cash generation is a clear strength. Reliance has produced solid operating cash flow every year, even when earnings were affected by working capital swings in the boom period. Free cash flow has remained positive throughout the five‑year span, after funding regular investment in equipment and facilities. Capital spending has been increasing, but it is still comfortably covered by cash generated from the business. This pattern suggests the company can both reinvest in its operations and still have room for shareholder returns or debt reduction, depending on management’s choices. Overall, the cash flow profile looks resilient and supports the picture of a mature, well‑run industrial company.

Competitive Edge

Competitive Edge Reliance Steel holds a very strong competitive position in the metals service center industry. It is the largest player in North America, which gives it significant purchasing power with mills and allows it to carry a broader and deeper inventory than most rivals. This makes Reliance a one‑stop shop for many customers. The company’s focus on value‑added processing—cutting, shaping, and finishing metals to exact customer specifications—moves it beyond simple distribution and embeds it into customers’ production chains. That tends to create stickier relationships and better margins. Reliance has also carved out a profitable niche in smaller, high‑service orders with fast turnaround, an area where mills and some competitors are less efficient. The decentralized “family of companies” structure keeps decision‑making close to the customer, preserving local relationships while still benefiting from corporate scale. All of this forms a wide competitive moat that would be difficult and costly for new entrants or smaller competitors to replicate.

Innovation and R&D

Innovation and R&D Innovation at Reliance is focused less on inventing new metals and more on improving processes, technology, and customer experience. The company has long invested in advanced storage, processing, and logistics systems to run its network efficiently. More recently, it has upgraded its enterprise software and partnered with cloud providers to use connected sensors and machine learning for predictive maintenance, reducing downtime on expensive processing equipment. Reliance also continues to upgrade its machinery for cutting, laser processing, welding, and fabrication, which deepens its value‑added service offering. The launch of an online platform, FastMetals.com, opens a digital channel to smaller customers who prefer quick, self‑service purchasing. Growth via acquisitions is another form of “innovation” for Reliance, adding new capabilities, specialties, and geographies. Looking ahead, more automation, expanded e‑commerce, and growing exposure to higher‑value end markets (such as aerospace and advanced manufacturing) appear to be key themes.

Summary

Reliance Steel & Aluminum comes across as a financially solid, highly cash‑generative industrial business with a durable competitive position. Earnings have clearly come off the extraordinary highs of the recent metals upcycle, but they remain strong compared with pre‑2020 levels. The balance sheet is sturdy, with moderate debt and rising equity, and the company consistently converts profits into cash even while reinvesting in its operations. Strategically, Reliance benefits from its scale, wide product range, focus on value‑added processing, and ability to serve smaller, quick‑turn orders. Its decentralized structure helps maintain close customer relationships while still leveraging the advantages of size. Key uncertainties revolve around the inherently cyclical nature of metals demand and pricing, ongoing capital needs for equipment and technology, and execution risk in acquisitions. Within those natural industry constraints, the data suggest a well‑positioned, disciplined operator with meaningful competitive advantages and a long track record of navigating cycles.

NEWS

November 6, 2025 · 4:05 PM UTC

Reliance, Inc. Announces Upcoming Conference Participation

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October 22, 2025 · 4:05 PM UTC

Reliance, Inc. Reports Third Quarter 2025 Financial Results

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October 8, 2025 · 6:50 AM UTC

Reliance, Inc. to Announce Third Quarter 2025 Results on Wednesday, October 22nd

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October 1, 2025 · 6:50 AM UTC

Reliance, Inc. Announces Appointment of John G. Sznewajs to Board of Directors

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