Reliance (RS) Financials

$361.35 -6.49 (-1.76%)

Closing price 05/15/2026 03:59 PM Eastern

Extended Trading

$361.70 +0.35 (+0.10%)

As of 05/15/2026 04:10 PM Eastern

Annual Income Statements for Reliance

This table shows Reliance's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	312	304	613	634	702	369	1,413	1,840	1,336	875	739
Consolidated Net Income / (Loss)	316	309	621	642	706	372	1,417	1,844	1,340	878	742
Net Income / (Loss) Continuing Operations	316	309	621	642	706	372	1,417	1,844	1,340	878	742
Total Pre-Tax Income	459	429	584	851	929	478	1,883	2,430	1,741	1,140	969
Total Operating Income	550	518	662	938	1,014	566	1,949	2,507	1,740	1,160	1,013
Total Gross Profit	2,547	2,590	2,788	3,282	3,329	2,775	4,490	5,251	4,547	4,107	4,108
Total Revenue	9,351	8,613	9,721	11,535	10,974	8,812	14,093	17,025	14,806	13,835	14,294
Operating Revenue	9,351	8,613	9,721	11,535	10,974	8,812	14,093	17,025	14,806	13,835	14,294
Total Cost of Revenue	6,804	6,023	6,933	8,253	7,644	6,037	9,603	11,774	10,259	9,728	10,187
Operating Cost of Revenue	6,804	6,023	6,933	8,253	7,644	6,037	9,603	11,774	10,259	9,728	10,187
Total Operating Expenses	1,997	2,073	2,125	2,344	2,316	2,209	2,541	2,744	2,808	2,947	3,095
Selling, General & Admin Expense	1,725	1,798	1,903	2,092	2,095	1,874	2,307	2,504	2,562	2,666	2,807
Depreciation Expense	219	222	218	215	219	227	230	240	245	269	278
Impairment Charge	53	52	4.20	37	1.20	108	4.70	0.00	0.00	12	9.90
Total Other Income / (Expense), net	-91	-89	-79	-87	-84	-88	-66	-77	1.20	-20	-44
Interest Expense	84	85	74	86	85	63	63	62	40	40	56
Other Income / (Expense), net	-6.80	-4.00	-4.70	-0.70	0.80	-25	-3.10	-14	41	20	12
Income Tax Expense	143	120	-37	209	223	106	466	586	401	262	228
Net Income / (Loss) Attributable to Noncontrolling Interest	4.70	4.80	7.60	8.10	4.60	3.30	4.40	4.10	4.20	2.80	2.20
Basic Earnings per Share	$4.20	$4.21	$8.42	$8.85	$10.49	$5.74	$22.35	$30.39	$22.90	$15.70	$14.07
Weighted Average Basic Shares Outstanding	74.10M	72.36M	72.85M	71.62M	66.89M	64.33M	63.22M	60.56M	58.33M	55.75M	52.56M
Diluted Earnings per Share	$4.16	$4.16	$8.34	$8.75	$10.34	$5.66	$21.97	$29.92	$22.64	$15.56	$13.98
Weighted Average Diluted Shares Outstanding	74.10M	72.36M	73.54M	72.44M	67.86M	65.26M	64.33M	61.50M	59.02M	56.25M	52.88M
Weighted Average Basic & Diluted Shares Outstanding	74.10M	72.36M	72.85M	71.62M	66.86M	63.60M	61.70M	58.98M	57.43M	52.97M	51.73M
Cash Dividends to Common per Share	$1.60	$1.65	$1.80	$2.00	$2.20	$2.50	$2.75	$3.50	$4.00	$4.40	$4.80

This table shows Reliance's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	295	273	303	268	199	105	200	234	190	117	265
Consolidated Net Income / (Loss)	296	273	304	268	200	106	201	234	190	117	266
Net Income / (Loss) Continuing Operations	296	273	304	268	200	106	201	234	190	117	266
Total Pre-Tax Income	388	333	396	350	261	134	262	304	248	155	350
Total Operating Income	390	325	393	352	273	142	274	312	260	166	368
Total Gross Profit	1,077	1,022	1,128	1,086	1,006	886	1,033	1,088	1,032	955	1,172
Total Revenue	3,623	3,337	3,645	3,643	3,420	3,127	3,485	3,660	3,651	3,499	4,026
Operating Revenue	3,623	3,337	3,645	3,643	3,420	3,127	3,485	3,660	3,651	3,499	4,026
Total Cost of Revenue	2,546	2,316	2,517	2,557	2,414	2,241	2,451	2,572	2,620	2,544	2,854
Operating Cost of Revenue	2,546	2,316	2,517	2,557	2,414	2,241	2,451	2,572	2,620	2,544	2,854
Total Operating Expenses	688	697	735	734	733	744	759	776	772	788	804
Selling, General & Admin Expense	627	634	672	668	665	662	690	706	701	709	735
Depreciation Expense	61	63	64	67	68	71	69	70	71	69	69
Total Other Income / (Expense), net	-1.50	8.20	3.10	-2.00	-13	-8.30	-12	-7.90	-12	-12	-18
Interest Expense	9.70	9.80	9.70	9.70	11	10	12	14	14	16	15
Other Income / (Expense), net	8.20	18	13	7.70	-2.00	1.70	-0.50	6.40	2.30	4.00	-3.00
Income Tax Expense	92	60	92	81	61	28	62	70	58	38	84
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	0.70	0.90	0.50	0.70	0.70	0.80	0.50	0.50	0.40	0.70
Basic Earnings per Share	$5.05	$4.78	$5.28	$4.71	$3.64	$2.07	$3.76	$4.44	$3.61	$2.26	$5.13
Weighted Average Basic Shares Outstanding	58.43M	58.33M	57.34M	56.88M	54.69M	55.75M	53.08M	52.61M	52.48M	52.56M	51.63M
Diluted Earnings per Share	$4.99	$4.73	$5.23	$4.67	$3.61	$2.05	$3.74	$4.42	$3.59	$2.23	$5.10
Weighted Average Diluted Shares Outstanding	59.12M	59.02M	57.88M	57.39M	55.18M	56.25M	53.40M	52.92M	52.82M	52.88M	51.97M
Weighted Average Basic & Diluted Shares Outstanding	57.47M	57.43M	57.43M	55.02M	54.12M	52.97M	52.59M	52.59M	52.29M	51.73M	51.05M
Cash Dividends to Common per Share	$1.00	-	$1.10	$1.10	$1.10	-	$1.20	$1.20	$1.20	-	$1.25

This table details how cash moves in and out of Reliance's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-1.90	19	32	-26	46	509	-383	873	-93	-762	-102
Net Cash From Operating Activities	1,025	627	399	665	1,302	1,173	799	2,119	1,671	1,430	831
Net Cash From Continuing Operating Activities	1,025	627	399	665	1,302	1,173	799	2,119	1,671	1,430	831
Net Income / (Loss) Continuing Operations	316	309	621	642	706	372	1,417	1,844	1,340	878	742
Consolidated Net Income / (Loss)	316	309	621	642	706	372	1,417	1,844	1,340	878	742
Depreciation Expense	219	222	218	215	219	227	230	240	245	269	278
Non-Cash Adjustments To Reconcile Net Income	82	89	43	83	64	187	85	96	68	81	56
Changes in Operating Assets and Liabilities, net	408	6.90	-483	-276	312	387	-934	-62	18	202	-244
Net Cash From Investing Activities	-170	-505	-179	-281	-419	-188	-652	-349	-484	-804	-322
Net Cash From Continuing Investing Activities	-170	-505	-179	-281	-419	-188	-652	-349	-484	-804	-322
Purchase of Property, Plant & Equipment	-172	-155	-162	-240	-242	-172	-237	-342	-469	-431	-329
Acquisitions	-0.40	-349	-38	-78	-178	-6.90	-439	0.00	-24	-365	-2.80
Sale of Property, Plant & Equipment	7.40	8.90	28	29	8.00	6.70	36	11	11	4.70	17
Other Investing Activities, net	-4.70	-10	-7.60	7.30	-7.10	-16	-12	-18	-2.20	-13	-7.30
Net Cash From Financing Activities	-849	-100	-198	-404	-841	-483	-529	-893	-1,282	-1,376	-620
Net Cash From Continuing Financing Activities	-849	-100	-198	-404	-841	-483	-529	-893	-1,282	-1,376	-620
Repayment of Debt	-974	-2,090	-925	-1,263	-1,610	-1,624	-27	-5.50	-511	-653	-2,445
Repurchase of Common Equity	-356	-	-25	-485	-50	-337	-324	-630	-480	-1,094	-604
Payment of Dividends	-120	-120	-132	-145	-151	-164	-177	-217	-238	-250	-255
Issuance of Debt	586	2,073	883	1,519	971	1,674	20	0.00	0.00	663	2,701
Other Financing Activities, net	15	38	-	-29	-0.40	-31	-21	-40	-54	-43	-18
Other Net Changes in Cash	-	-2.70	10	-5.90	4.30	7.60	-	-	-	-	9.10
Cash Interest Paid	82	81	73	84	83	53	59	60	42	38	55
Cash Income Taxes Paid	205	95	171	229	214	88	444	692	386	245	164

This table details how cash moves in and out of Reliance's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	161	103	-145	-584	-36	3.50	-40	-38	22	-45	33
Net Cash From Operating Activities	466	526	126	366	464	473	65	229	262	276	151
Net Cash From Continuing Operating Activities	466	526	126	366	464	473	65	229	262	276	151
Net Income / (Loss) Continuing Operations	296	273	304	268	200	106	201	234	190	117	266
Consolidated Net Income / (Loss)	296	273	304	268	200	106	201	234	190	117	266
Depreciation Expense	61	63	64	67	68	71	69	70	71	69	69
Non-Cash Adjustments To Reconcile Net Income	22	12	16	15	17	33	19	4.20	11	22	21
Changes in Operating Assets and Liabilities, net	87	178	-257	17	179	264	-223	-79	-9.90	68	-204
Net Cash From Investing Activities	-113	-116	-177	-385	-111	-130	-88	-71	-74	-89	-70
Net Cash From Continuing Investing Activities	-113	-116	-177	-385	-111	-130	-88	-71	-74	-89	-70
Purchase of Property, Plant & Equipment	-126	-110	-109	-98	-113	-111	-87	-88	-81	-73	-64
Other Investing Activities, net	13	-17	-15	6.40	22	-26	-0.70	6.30	6.40	-19	-5.80
Net Cash From Financing Activities	-190	-312	-90	-564	-395	-328	-19	-203	-165	-233	-47
Net Cash From Continuing Financing Activities	-190	-312	-90	-564	-395	-328	-19	-203	-165	-233	-47
Repayment of Debt	-3.40	0.30	-1.10	18	-560	-111	-477	-325	-1,040	-602	-656
Repurchase of Common Equity	-126	-240	0.00	-519	-432	-142	-253	-90	-61	-200	-234
Payment of Dividends	-59	-59	-65	-63	-61	-61	-65	-63	-63	-64	-67
Issuance of Debt	2.20	-	0.00	-	663	-	788	275	999	639	925
Other Financing Activities, net	-4.00	-13	-24	-0.20	-5.50	-13	-12	-0.10	-0.20	-6.10	-15
Effect of Exchange Rate Changes	-	5.40	-3.90	-	-	-	-	-	-	-	-1.70
Cash Interest Paid	8.80	9.30	8.80	9.20	9.70	10	10	14	14	17	13
Cash Income Taxes Paid	114	81	10	138	49	48	14	57	45	48	13

This table presents Reliance's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	7,122	7,411	7,751	8,045	8,131	8,107	9,536	10,330	10,480	10,022	10,373
Total Current Assets	2,554	2,689	3,051	3,285	3,010	3,113	4,160	4,887	4,772	3,896	4,141
Cash & Equivalents	104	123	154	128	174	684	301	1,173	1,080	318	217
Accounts Receivable	917	960	1,087	1,242	1,068	926	1,683	1,566	1,472	1,342	1,540
Inventories, net	1,436	1,533	1,726	1,817	1,646	1,420	2,065	1,995	2,043	2,027	2,188
Prepaid Expenses	61	73	81	82	85	81	112	116	140	148	166
Current Deferred & Refundable Income Taxes	37	-	2.90	16	37	2.10	0.00	37	36	60	31
Plant, Property, & Equipment, net	1,636	1,662	1,656	1,730	1,795	1,792	1,837	1,975	2,248	2,545	2,633
Total Noncurrent Assets	2,932	3,061	3,043	3,030	3,326	3,202	3,539	3,469	3,460	3,581	3,599
Goodwill	1,725	1,827	1,843	1,871	2,004	1,935	2,108	2,106	2,111	2,162	2,170
Intangible Assets	1,125	1,151	1,112	1,072	1,031	947	1,078	1,020	981	1,007	960
Other Noncurrent Operating Assets	82	82	89	87	291	320	354	343	368	412	469
Total Liabilities & Shareholders' Equity	7,122	7,411	7,751	8,045	8,131	8,107	9,536	10,330	10,480	10,022	10,373
Total Liabilities	3,179	3,232	3,051	3,365	2,917	2,984	3,442	3,234	2,748	2,791	3,194
Total Current Liabilities	990	656	704	699	675	613	1,065	1,375	844	1,213	848
Short-Term Debt	501	83	92	65	65	6.00	5.00	508	0.30	400	0.70
Accounts Payable	247	302	347	339	275	259	454	412	410	362	375
Accrued Expenses	123	124	126	120	111	131	189	162	163	195	206
Current Deferred & Payable Income Tax Liabilities	-	6.20	-	-	-	0.00	64	-	-	-	0.00
Current Employee Benefit Liabilities	119	141	139	175	172	166	294	240	214	195	198
Other Current Liabilities	-	-	-	-	53	51	59	53	56	61	68
Total Noncurrent Liabilities	2,189	2,576	2,347	2,666	2,242	2,371	2,377	1,859	1,904	1,578	2,346
Long-Term Debt	1,428	1,847	1,809	2,139	1,524	1,639	1,642	1,139	1,142	743	1,420
Noncurrent Deferred & Payable Income Tax Liabilities	627	627	441	440	469	456	485	477	494	538	576
Noncurrent Employee Benefit Liabilities	104	90	85	72	87	96	38	26	25	27	25
Other Noncurrent Operating Liabilities	30	13	12	16	162	181	213	217	243	271	325
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,943	4,179	4,700	4,680	5,214	5,123	6,094	7,096	7,733	7,231	7,180
Total Preferred & Common Equity	3,914	4,149	4,667	4,672	5,207	5,115	6,087	7,087	7,722	7,220	7,170
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,914	4,149	4,667	4,672	5,207	5,115	6,087	7,087	7,722	7,220	7,170
Common Stock	534	590	595	136	122	0.10	0.10	0.10	0.10	0.10	0.10
Retained Earnings	3,480	3,663	4,144	4,638	5,190	5,193	6,155	7,174	7,799	7,335	7,258
Accumulated Other Comprehensive Income / (Loss)	-100	-105	-72	-103	-105	-78	-69	-86	-77	-115	-88
Noncontrolling Interest	29	30	33	7.90	7.50	7.30	7.20	8.50	11	11	9.40

This table presents Reliance's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	10,203	10,440	10,493	10,712	10,448	10,301	10,365	10,490	10,550	10,809
Total Current Assets	4,712	4,858	4,859	4,923	4,433	4,213	4,211	4,293	4,356	4,573
Cash & Equivalents	816	816	977	935	351	315	278	240	261	250
Accounts Receivable	1,800	1,730	1,666	1,686	1,651	1,567	1,672	1,668	1,674	1,954
Inventories, net	1,981	2,202	2,110	2,167	2,289	2,206	2,114	2,255	2,308	2,235
Prepaid Expenses	114	110	105	136	132	124	136	127	113	135
Current Deferred & Refundable Income Taxes	0.00	0.00	1.00	0.00	9.80	1.90	12	3.90	0.00	0.00
Plant, Property, & Equipment, net	2,025	2,116	2,189	2,309	2,438	2,503	2,573	2,606	2,624	2,631
Total Noncurrent Assets	3,466	3,466	3,445	3,480	3,578	3,585	3,581	3,591	3,570	3,605
Goodwill	2,106	2,110	2,109	2,125	2,167	2,171	2,166	2,170	2,169	2,175
Intangible Assets	1,008	1,003	990	986	1,036	1,032	997	989	978	953
Other Noncurrent Operating Assets	352	353	346	368	375	383	418	432	424	477
Total Liabilities & Shareholders' Equity	10,203	10,440	10,493	10,712	10,448	10,301	10,365	10,490	10,550	10,809
Total Liabilities	2,849	2,815	2,758	2,770	2,815	2,940	3,251	3,246	3,234	3,677
Total Current Liabilities	975	938	879	857	884	1,273	1,330	1,348	984	1,043
Short-Term Debt	8.20	0.30	0.30	0.30	0.30	400	400	400	0.30	0.00
Accounts Payable	545	500	445	450	458	441	521	517	508	552
Accrued Expenses	159	180	174	164	194	178	190	188	201	209
Current Deferred & Payable Income Tax Liabilities	66	21	-	47	-	-	-	-	9.60	41
Current Employee Benefit Liabilities	144	182	203	140	174	194	156	180	201	172
Other Current Liabilities	53	55	56	56	57	60	63	64	65	69
Total Noncurrent Liabilities	1,873	1,877	1,879	1,912	1,932	1,667	1,922	1,898	2,250	2,634
Long-Term Debt	1,140	1,141	1,142	1,143	1,143	868	1,073	1,026	1,382	1,694
Noncurrent Deferred & Payable Income Tax Liabilities	476	476	476	493	502	502	537	538	537	575
Noncurrent Employee Benefit Liabilities	30	31	30	28	28	29	28	30	28	25
Other Noncurrent Operating Liabilities	227	229	232	249	259	268	283	305	303	341
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,354	7,626	7,735	7,943	7,633	7,361	7,114	7,244	7,316	7,132
Total Preferred & Common Equity	7,346	7,616	7,724	7,932	7,623	7,351	7,102	7,234	7,305	7,123
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	7,346	7,616	7,724	7,932	7,623	7,351	7,102	7,234	7,305	7,123
Common Stock	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Retained Earnings	7,432	7,702	7,824	8,026	7,724	7,434	7,215	7,320	7,400	7,219
Accumulated Other Comprehensive Income / (Loss)	-87	-87	-99	-93	-102	-83	-113	-86	-95	-96
Noncontrolling Interest	8.70	9.90	11	10	10	11	12	10	11	9.20

This table displays calculated financial ratios and metrics derived from Reliance's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.54%	-7.88%	12.86%	18.66%	-4.86%	-19.70%	59.93%	20.80%	-13.03%	-6.56%	3.32%
EBITDA Growth	-9.56%	-3.37%	19.07%	31.49%	7.08%	-37.71%	183.19%	25.59%	-25.86%	-28.49%	-10.06%
EBIT Growth	-13.56%	-5.38%	28.01%	42.44%	8.27%	-46.65%	259.60%	28.11%	-28.56%	-33.73%	-13.16%
NOPAT Growth	-10.88%	-1.61%	88.95%	0.39%	8.87%	-42.78%	232.92%	29.68%	-29.60%	-33.28%	-13.27%
Net Income Growth	-15.97%	-2.25%	100.91%	3.35%	10.02%	-47.26%	280.61%	30.11%	-27.33%	-34.48%	-15.54%
EPS Growth	-12.05%	0.00%	100.48%	4.92%	18.17%	-45.26%	288.16%	36.19%	-24.33%	-31.27%	-10.15%
Operating Cash Flow Growth	187.92%	-38.88%	-36.31%	66.57%	95.83%	-9.87%	-31.85%	165.02%	-21.11%	-14.45%	-41.85%
Free Cash Flow Firm Growth	34,431.31%	-83.49%	57.41%	64.17%	124.61%	9.82%	-88.75%	1,499.20%	-37.12%	-43.18%	-29.56%
Invested Capital Growth	-8.80%	3.79%	7.71%	4.78%	-1.88%	-8.21%	22.29%	1.75%	2.97%	3.34%	4.08%
Revenue Q/Q Growth	-5.56%	0.41%	3.35%	3.94%	-3.23%	-3.44%	15.15%	0.00%	-1.81%	-1.50%	2.67%
EBITDA Q/Q Growth	-3.25%	0.38%	2.54%	0.61%	7.06%	-5.42%	21.35%	0.00%	-5.48%	-11.70%	2.00%
EBIT Q/Q Growth	-4.28%	0.27%	3.59%	0.84%	8.41%	-7.58%	24.37%	0.00%	-6.26%	-14.47%	2.69%
NOPAT Q/Q Growth	-3.65%	-2.89%	63.10%	-24.94%	10.44%	-7.27%	24.69%	0.00%	-6.33%	-14.76%	1.72%
Net Income Q/Q Growth	-7.27%	-1.90%	63.38%	-25.22%	12.60%	-8.77%	25.92%	0.00%	-5.49%	-16.01%	1.49%
EPS Q/Q Growth	-5.02%	-3.26%	64.50%	-24.50%	13.01%	-7.52%	26.70%	0.00%	-5.27%	-14.69%	1.30%
Operating Cash Flow Q/Q Growth	12.70%	-10.02%	-8.74%	53.13%	-6.06%	-9.08%	25.73%	0.00%	-14.49%	-3.53%	-19.17%
Free Cash Flow Firm Q/Q Growth	21.99%	-29.80%	-17.95%	94.42%	-20.40%	5.39%	-72.33%	-74.22%	117.22%	-0.19%	-30.22%
Invested Capital Q/Q Growth	-3.10%	-2.13%	3.13%	-3.34%	1.06%	-0.26%	8.21%	0.00%	-1.33%	-3.11%	-0.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.24%	30.07%	28.68%	28.45%	30.34%	31.49%	31.86%	30.84%	30.71%	29.68%	28.74%
EBITDA Margin	8.14%	8.54%	9.01%	9.99%	11.24%	8.72%	15.44%	16.05%	13.69%	10.47%	9.12%
Operating Margin	5.88%	6.01%	6.81%	8.13%	9.24%	6.42%	13.83%	14.72%	11.75%	8.38%	7.08%
EBIT Margin	5.81%	5.97%	6.77%	8.12%	9.24%	6.14%	13.81%	14.64%	12.03%	8.53%	7.17%
Profit (Net Income) Margin	3.38%	3.59%	6.39%	5.56%	6.43%	4.23%	10.06%	10.83%	9.05%	6.35%	5.19%
Tax Burden Percent	68.93%	72.02%	106.37%	75.45%	75.98%	77.88%	75.27%	75.88%	76.99%	77.02%	76.52%
Interest Burden Percent	84.48%	83.53%	88.76%	90.80%	91.62%	88.38%	96.78%	97.50%	97.75%	96.59%	94.57%
Effective Tax Rate	31.07%	27.98%	-6.37%	24.55%	24.02%	22.12%	24.73%	24.12%	23.01%	22.98%	23.48%
Return on Invested Capital (ROIC)	6.27%	6.35%	11.34%	10.72%	11.51%	6.93%	21.69%	25.35%	17.43%	11.27%	9.43%
ROIC Less NNEP Spread (ROIC-NNEP)	3.15%	2.83%	6.63%	7.29%	7.84%	1.19%	17.40%	18.97%	17.78%	7.78%	6.15%
Return on Net Nonoperating Assets (RNNOA)	1.57%	1.27%	2.65%	2.97%	2.77%	0.27%	3.58%	2.62%	0.64%	0.46%	0.87%
Return on Equity (ROE)	7.84%	7.61%	13.99%	13.69%	14.27%	7.21%	25.27%	27.96%	18.07%	11.74%	10.29%
Cash Return on Invested Capital (CROIC)	15.48%	2.63%	3.91%	6.05%	13.40%	15.49%	1.64%	23.62%	14.51%	7.99%	5.43%
Operating Return on Assets (OROA)	7.27%	7.07%	8.68%	11.86%	12.54%	6.66%	22.06%	25.10%	17.11%	11.51%	10.05%
Return on Assets (ROA)	4.23%	4.25%	8.19%	8.13%	8.73%	4.59%	16.07%	18.57%	12.88%	8.57%	7.27%
Return on Common Equity (ROCE)	7.78%	7.56%	13.89%	13.63%	14.25%	7.20%	25.24%	27.93%	18.05%	11.72%	10.28%
Return on Equity Simple (ROE_SIMPLE)	8.08%	7.45%	13.31%	13.74%	13.56%	7.28%	23.29%	26.02%	17.35%	12.16%	0.00%
Net Operating Profit after Tax (NOPAT)	379	373	705	707	770	441	1,467	1,902	1,339	893	775
NOPAT Margin	4.05%	4.33%	7.25%	6.13%	7.02%	5.00%	10.41%	11.17%	9.04%	6.46%	5.42%
Net Nonoperating Expense Percent (NNEP)	3.12%	3.51%	4.71%	3.43%	3.67%	5.74%	4.29%	6.38%	-0.34%	3.49%	3.28%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	21.76%	15.09%	10.67%	9.01%
Cost of Revenue to Revenue	72.76%	69.93%	71.32%	71.55%	69.66%	68.51%	68.14%	69.16%	69.29%	70.32%	71.26%
SG&A Expenses to Revenue	18.45%	20.88%	19.57%	18.14%	19.09%	21.27%	16.37%	14.71%	17.31%	19.27%	19.64%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.36%	24.06%	21.86%	20.32%	21.10%	25.07%	18.03%	16.12%	18.96%	21.30%	21.65%
Earnings before Interest and Taxes (EBIT)	543	514	658	937	1,014	541	1,946	2,493	1,781	1,180	1,025
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	762	736	876	1,152	1,234	768	2,176	2,733	2,026	1,449	1,303
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.89	1.19	1.17	0.96	1.41	1.40	1.60	1.67	2.05	2.02	2.11
Price to Tangible Book Value (P/TBV)	3.26	4.22	3.20	2.60	3.37	3.21	3.35	2.99	3.42	3.60	3.74
Price to Revenue (P/Rev)	0.37	0.57	0.56	0.39	0.67	0.81	0.69	0.70	1.07	1.05	1.06
Price to Earnings (P/E)	11.14	16.23	8.94	7.09	10.44	19.44	6.88	6.44	11.86	16.65	20.43
Dividend Yield	3.30%	2.42%	2.39%	3.13%	2.00%	2.22%	1.77%	1.78%	1.45%	1.63%	1.66%
Earnings Yield	8.98%	6.16%	11.19%	14.10%	9.58%	5.14%	14.53%	15.53%	8.43%	6.01%	4.90%
Enterprise Value to Invested Capital (EV/IC)	0.92	1.13	1.13	0.97	1.32	1.34	1.49	1.63	2.04	1.91	1.95
Enterprise Value to Revenue (EV/Rev)	0.57	0.79	0.75	0.57	0.80	0.92	0.79	0.72	1.08	1.11	1.14
Enterprise Value to EBITDA (EV/EBITDA)	6.99	9.21	8.29	5.71	7.09	10.60	5.09	4.51	7.86	10.63	12.52
Enterprise Value to EBIT (EV/EBIT)	9.80	13.19	11.04	7.02	8.62	15.05	5.69	4.95	8.94	13.06	15.92
Enterprise Value to NOPAT (EV/NOPAT)	14.04	18.17	10.31	9.30	11.36	18.49	7.55	6.48	11.88	17.24	21.06
Enterprise Value to Operating Cash Flow (EV/OCF)	5.19	10.81	18.20	9.90	6.72	6.94	13.85	5.82	9.52	10.78	19.63
Enterprise Value to Free Cash Flow (EV/FCFF)	5.69	43.85	29.86	16.48	9.75	8.27	99.93	6.96	14.28	24.33	36.58
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.46	0.40	0.47	0.30	0.32	0.27	0.23	0.15	0.16	0.20
Long-Term Debt to Equity	0.36	0.44	0.39	0.46	0.29	0.32	0.27	0.16	0.15	0.10	0.20
Financial Leverage	0.50	0.45	0.40	0.41	0.35	0.23	0.21	0.14	0.04	0.06	0.14
Leverage Ratio	1.85	1.79	1.71	1.68	1.64	1.57	1.57	1.51	1.40	1.37	1.42
Compound Leverage Factor	1.56	1.49	1.52	1.53	1.50	1.39	1.52	1.47	1.37	1.32	1.34
Debt to Total Capital	32.85%	31.58%	28.80%	32.02%	23.35%	24.31%	21.28%	18.84%	12.87%	13.64%	16.52%
Short-Term Debt to Total Capital	8.53%	1.35%	1.39%	0.95%	0.95%	0.09%	0.06%	5.81%	0.00%	4.77%	0.01%
Long-Term Debt to Total Capital	24.32%	30.23%	27.41%	31.07%	22.40%	24.22%	21.21%	13.03%	12.87%	8.87%	16.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.49%	0.50%	0.50%	0.11%	0.11%	0.11%	0.09%	0.10%	0.12%	0.13%	0.11%
Common Equity to Total Capital	66.66%	67.92%	70.70%	67.87%	76.54%	75.59%	78.63%	81.06%	87.01%	86.22%	83.37%
Debt to EBITDA	2.53	2.62	2.17	1.91	1.29	2.14	0.76	0.60	0.56	0.79	1.09
Net Debt to EBITDA	2.40	2.46	1.99	1.80	1.15	1.25	0.62	0.17	0.03	0.57	0.92
Long-Term Debt to EBITDA	1.88	2.51	2.07	1.86	1.24	2.13	0.75	0.42	0.56	0.51	1.09
Debt to NOPAT	5.09	5.17	2.70	3.12	2.06	3.73	1.12	0.87	0.85	1.28	1.83
Net Debt to NOPAT	4.81	4.84	2.48	2.93	1.84	2.18	0.92	0.25	0.05	0.92	1.55
Long-Term Debt to NOPAT	3.77	4.95	2.57	3.02	1.98	3.72	1.12	0.60	0.85	0.83	1.83
Altman Z-Score	3.17	3.33	3.72	3.81	4.51	4.02	5.14	6.02	6.92	6.25	5.90
Noncontrolling Interest Sharing Ratio	0.71%	0.73%	0.71%	0.43%	0.16%	0.14%	0.13%	0.12%	0.13%	0.14%	0.14%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.58	4.10	4.34	4.70	4.46	5.08	3.91	3.55	5.66	3.21	4.88
Quick Ratio	1.03	1.65	1.76	1.96	1.84	2.63	1.86	1.99	3.03	1.37	2.07
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	936	155	243	399	897	985	111	1,772	1,114	633	446
Operating Cash Flow to CapEx	621.97%	429.11%	297.76%	315.42%	555.72%	709.62%	398.50%	640.25%	365.15%	335.71%	266.73%
Free Cash Flow to Firm to Interest Expense	11.10	1.83	3.29	4.63	10.55	15.66	1.77	28.45	27.79	15.71	8.01
Operating Cash Flow to Interest Expense	12.16	7.41	5.40	7.71	15.31	18.65	12.75	34.01	41.68	35.48	14.93
Operating Cash Flow Less CapEx to Interest Expense	10.20	5.68	3.59	5.27	12.56	16.02	9.55	28.70	30.26	24.91	9.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.25	1.19	1.28	1.46	1.36	1.09	1.60	1.71	1.42	1.35	1.40
Accounts Receivable Turnover	9.07	9.18	9.50	9.90	9.50	8.84	10.80	10.48	9.75	9.83	9.92
Inventory Turnover	4.27	4.06	4.26	4.66	4.42	3.94	5.51	5.80	5.08	4.78	4.83
Fixed Asset Turnover	5.68	5.22	5.86	6.81	6.23	4.91	7.77	8.93	7.01	5.77	5.52
Accounts Payable Turnover	25.51	21.93	21.37	24.08	24.91	22.60	26.93	27.18	24.94	25.20	27.64
Days Sales Outstanding (DSO)	40.23	39.77	38.44	36.86	38.42	41.30	33.79	34.82	37.45	37.13	36.79
Days Inventory Outstanding (DIO)	85.52	89.95	85.77	78.35	82.67	92.69	66.24	62.94	71.84	76.35	75.51
Days Payable Outstanding (DPO)	14.31	16.64	17.08	15.16	14.65	16.15	13.55	13.43	14.64	14.49	13.21
Cash Conversion Cycle (CCC)	111.44	113.07	107.13	100.05	106.43	117.84	86.47	84.33	94.66	98.99	99.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,767	5,986	6,447	6,755	6,628	6,084	7,440	7,570	7,795	8,055	8,384
Invested Capital Turnover	1.55	1.47	1.56	1.75	1.64	1.39	2.08	2.27	1.93	1.75	1.74
Increase / (Decrease) in Invested Capital	-557	218	461	308	-127	-544	1,356	130	225	260	329
Enterprise Value (EV)	5,323	6,775	7,262	6,578	8,747	8,145	11,076	12,330	15,916	15,408	16,318
Market Capitalization	3,470	4,938	5,483	4,495	7,326	7,177	9,722	11,848	15,843	14,572	15,104
Book Value per Share	$54.63	$57.17	$64.01	$66.33	$78.11	$80.23	$97.14	$117.03	$134.37	$133.40	$137.13
Tangible Book Value per Share	$14.85	$16.13	$23.48	$24.55	$32.58	$35.03	$46.30	$65.42	$80.56	$74.84	$77.27
Total Capital	5,871	6,108	6,601	6,883	6,803	6,768	7,741	8,744	8,875	8,373	8,600
Total Debt	1,929	1,929	1,901	2,204	1,589	1,645	1,647	1,648	1,142	1,143	1,421
Total Long-Term Debt	1,428	1,847	1,809	2,139	1,524	1,639	1,642	1,139	1,142	743	1,420
Net Debt	1,824	1,806	1,747	2,076	1,414	961	1,347	474	62	824	1,204
Capital Expenditures (CapEx)	165	146	134	211	234	165	201	331	458	426	312
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,961	1,992	2,285	2,523	2,226	1,822	2,800	2,846	2,848	2,764	3,077
Debt-free Net Working Capital (DFNWC)	2,065	2,115	2,440	2,651	2,400	2,506	3,100	4,020	3,929	3,082	3,294
Net Working Capital (NWC)	1,565	2,033	2,348	2,586	2,335	2,500	3,095	3,511	3,928	2,683	3,293
Net Nonoperating Expense (NNE)	63	64	84	66	64	68	50	58	-0.92	15	33
Net Nonoperating Obligations (NNO)	1,824	1,806	1,747	2,076	1,414	961	1,347	474	62	824	1,204
Total Depreciation and Amortization (D&A)	219	222	218	215	219	227	230	240	245	269	278
Debt-free, Cash-free Net Working Capital to Revenue	20.97%	23.13%	23.51%	21.87%	20.28%	20.68%	19.86%	16.72%	19.24%	19.98%	21.53%
Debt-free Net Working Capital to Revenue	22.09%	24.55%	25.10%	22.98%	21.87%	28.44%	22.00%	23.61%	26.53%	22.28%	23.04%
Net Working Capital to Revenue	16.73%	23.60%	24.15%	22.42%	21.28%	28.37%	21.96%	20.62%	26.53%	19.39%	23.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.20	$4.21	$8.42	$8.85	$10.49	$5.74	$22.35	$30.39	$22.90	$15.70	$14.07
Adjusted Weighted Average Basic Shares Outstanding	71.87M	72.86M	72.83M	67.08M	66.89M	64.33M	63.22M	60.56M	58.33M	55.75M	52.56M
Adjusted Diluted Earnings per Share	$4.16	$4.16	$8.34	$8.75	$10.34	$5.66	$21.97	$29.92	$22.64	$15.56	$13.98
Adjusted Weighted Average Diluted Shares Outstanding	71.87M	72.86M	72.83M	67.08M	67.86M	65.26M	64.33M	61.50M	59.02M	56.25M	52.88M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	71.87M	72.86M	72.83M	67.08M	66.86M	63.60M	61.70M	58.98M	57.43M	52.97M	51.73M
Normalized Net Operating Profit after Tax (NOPAT)	416	411	467	735	771	525	1,470	1,902	1,339	902	782
Normalized NOPAT Margin	4.45%	4.77%	4.80%	6.37%	7.03%	5.95%	10.43%	11.17%	9.04%	6.52%	5.47%
Pre Tax Income Margin	4.91%	4.98%	6.01%	7.37%	8.47%	5.43%	13.36%	14.28%	11.76%	8.24%	6.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.44	6.07	8.90	10.87	11.93	8.60	31.03	40.01	44.41	29.29	18.40
NOPAT to Interest Expense	4.50	4.41	9.53	8.21	9.06	7.01	23.40	30.53	33.40	22.17	13.91
EBIT Less CapEx to Interest Expense	4.49	4.35	7.09	8.42	9.18	5.97	27.83	34.70	33.00	18.72	12.80
NOPAT Less CapEx to Interest Expense	2.54	2.68	7.72	5.76	6.30	4.38	20.20	25.22	21.98	11.60	8.32
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.98%	38.95%	21.26%	22.64%	21.43%	44.07%	12.49%	11.77%	17.77%	28.44%	34.34%
Augmented Payout Ratio	150.41%	38.95%	25.28%	98.19%	28.51%	134.64%	35.31%	45.95%	53.55%	153.01%	115.80%

This table displays calculated financial ratios and metrics derived from Reliance's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	51,733,277.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	51,733,277.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	5.12
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-14.70%	-7.57%	-8.08%	-6.11%	-5.59%	-6.31%	-4.39%	0.45%	6.75%	11.90%	15.53%
EBITDA Growth	-23.62%	-22.45%	-19.12%	-26.73%	-25.97%	-47.27%	-27.03%	-8.85%	-1.97%	11.91%	26.71%
EBIT Growth	-26.30%	-25.75%	-21.85%	-30.96%	-31.76%	-58.18%	-32.52%	-11.35%	-3.43%	18.68%	33.22%
NOPAT Growth	-28.02%	-25.46%	-22.36%	-30.20%	-29.39%	-57.78%	-30.44%	-10.95%	-5.01%	11.54%	33.34%
Net Income Growth	-24.95%	-22.17%	-20.97%	-30.55%	-32.47%	-61.23%	-34.00%	-12.71%	-4.95%	10.28%	32.47%
EPS Growth	-22.64%	-21.04%	-18.66%	-28.04%	-27.66%	-56.66%	-28.49%	-5.35%	-0.55%	8.78%	36.36%
Operating Cash Flow Growth	-26.70%	-35.01%	-67.16%	24.13%	-0.45%	-9.95%	-48.93%	-37.48%	-43.57%	-41.66%	134.73%
Free Cash Flow Firm Growth	-204.31%	-81.58%	-147.82%	-146.46%	97.32%	-451.67%	131.70%	214.70%	137.66%	-37.67%	-75.79%
Invested Capital Growth	0.00%	2.97%	6.04%	5.98%	5.24%	3.34%	1.94%	0.05%	1.47%	4.08%	3.21%
Revenue Q/Q Growth	-6.63%	-7.89%	9.21%	-0.04%	-6.12%	-8.59%	11.45%	5.02%	-0.24%	-4.18%	15.07%
EBITDA Q/Q Growth	-21.17%	-11.41%	15.64%	-9.27%	-20.35%	-36.90%	60.02%	13.34%	-14.34%	-27.96%	81.18%
EBIT Q/Q Growth	-23.61%	-13.73%	18.30%	-11.46%	-24.49%	-47.13%	90.87%	16.32%	-17.73%	-35.02%	114.27%
NOPAT Q/Q Growth	-23.14%	-10.25%	13.03%	-10.48%	-22.25%	-46.33%	86.22%	14.60%	-17.06%	-36.98%	122.63%
Net Income Q/Q Growth	-23.38%	-7.64%	11.12%	-11.69%	-25.49%	-46.97%	89.15%	16.81%	-18.87%	-38.47%	127.20%
EPS Q/Q Growth	-23.11%	-5.21%	10.57%	-10.71%	-22.70%	-43.21%	82.44%	18.18%	-18.78%	-37.88%	128.70%
Operating Cash Flow Q/Q Growth	57.91%	12.79%	-75.97%	190.02%	26.64%	2.03%	-86.37%	255.04%	14.32%	5.46%	-45.16%
Free Cash Flow Firm Q/Q Growth	-1,818.20%	100.55%	-487.57%	-26.36%	0.81%	27.61%	134.94%	357.21%	-67.44%	-364.67%	106.14%
Invested Capital Q/Q Growth	-0.63%	-1.33%	4.57%	3.38%	-1.33%	-3.11%	3.15%	1.46%	0.07%	-0.62%	2.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.73%	30.61%	30.95%	29.81%	29.42%	28.34%	29.65%	29.73%	28.25%	27.29%	29.11%
EBITDA Margin	12.65%	12.17%	12.88%	11.69%	9.92%	6.85%	9.83%	10.61%	9.11%	6.85%	10.78%
Operating Margin	10.75%	9.74%	10.79%	9.65%	7.99%	4.54%	7.87%	8.53%	7.12%	4.75%	9.14%
EBIT Margin	10.98%	10.28%	11.14%	9.86%	7.94%	4.59%	7.86%	8.71%	7.18%	4.87%	9.06%
Profit (Net Income) Margin	8.17%	8.19%	8.34%	7.36%	5.84%	3.39%	5.75%	6.40%	5.20%	3.34%	6.60%
Tax Burden Percent	76.29%	82.03%	76.68%	76.72%	76.74%	79.40%	76.41%	76.96%	76.71%	75.52%	75.99%
Interest Burden Percent	97.56%	97.14%	97.61%	97.30%	95.98%	93.03%	95.80%	95.51%	94.51%	90.90%	95.78%
Effective Tax Rate	23.71%	17.97%	23.32%	23.28%	23.26%	20.60%	23.59%	23.04%	23.29%	24.48%	24.01%
Return on Invested Capital (ROIC)	31.31%	15.40%	15.13%	12.89%	10.63%	6.29%	10.00%	10.67%	9.07%	6.24%	12.20%
ROIC Less NNEP Spread (ROIC-NNEP)	29.92%	17.91%	16.01%	12.61%	8.86%	4.80%	8.69%	10.05%	8.18%	5.39%	11.14%
Return on Net Nonoperating Assets (RNNOA)	0.64%	0.65%	0.57%	0.92%	0.66%	0.28%	0.81%	1.34%	1.16%	0.76%	2.06%
Return on Equity (ROE)	31.95%	16.05%	15.69%	13.81%	11.28%	6.57%	10.81%	12.00%	10.23%	7.00%	14.27%
Cash Return on Invested Capital (CROIC)	-163.81%	14.51%	9.95%	8.06%	7.83%	7.99%	7.82%	9.11%	7.63%	5.43%	6.84%
Operating Return on Assets (OROA)	31.55%	14.63%	15.43%	13.46%	10.72%	6.19%	10.20%	11.38%	9.59%	6.82%	12.70%
Return on Assets (ROA)	23.48%	11.66%	11.55%	10.05%	7.90%	4.58%	7.47%	8.37%	6.95%	4.68%	9.24%
Return on Common Equity (ROCE)	31.90%	16.03%	15.67%	13.79%	11.27%	6.56%	10.79%	11.99%	10.21%	6.99%	14.25%
Return on Equity Simple (ROE_SIMPLE)	18.36%	0.00%	15.88%	14.97%	14.22%	0.00%	10.91%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	297	267	301	270	210	113	210	240	199	126	280
NOPAT Margin	8.20%	7.99%	8.27%	7.41%	6.13%	3.60%	6.02%	6.57%	5.46%	3.59%	6.94%
Net Nonoperating Expense Percent (NNEP)	1.39%	-2.51%	-0.88%	0.27%	1.77%	1.49%	1.31%	0.61%	0.90%	0.86%	1.06%
Return On Investment Capital (ROIC_SIMPLE)	-	3.00%	-	-	-	1.34%	2.44%	2.77%	2.29%	1.46%	3.17%
Cost of Revenue to Revenue	70.27%	69.39%	69.05%	70.19%	70.58%	71.66%	70.35%	70.27%	71.75%	72.71%	70.89%
SG&A Expenses to Revenue	17.30%	18.99%	18.42%	18.33%	19.44%	21.17%	19.81%	19.29%	19.21%	20.27%	18.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.98%	20.87%	20.17%	20.15%	21.43%	23.81%	21.78%	21.20%	21.14%	22.53%	19.97%
Earnings before Interest and Taxes (EBIT)	398	343	406	359	271	144	274	319	262	170	365
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	458	406	470	426	339	214	343	388	333	240	434
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.96	2.05	2.40	2.14	2.16	2.02	2.15	2.28	2.02	2.11	2.21
Price to Tangible Book Value (P/TBV)	3.27	3.42	3.95	3.70	3.84	3.60	3.88	4.05	3.55	3.74	3.94
Price to Revenue (P/Rev)	1.00	1.07	1.31	1.15	1.13	1.05	1.12	1.21	1.06	1.06	1.06
Price to Earnings (P/E)	10.70	11.86	15.17	14.35	15.26	16.65	19.81	22.37	20.28	20.43	19.54
Dividend Yield	1.50%	1.45%	1.24%	1.48%	1.49%	1.63%	1.56%	1.47%	1.67%	1.66%	1.60%
Earnings Yield	9.34%	8.43%	6.59%	6.97%	6.55%	6.01%	5.05%	4.47%	4.93%	4.90%	5.12%
Enterprise Value to Invested Capital (EV/IC)	1.94	2.04	2.36	2.03	2.03	1.91	1.99	2.10	1.88	1.95	2.00
Enterprise Value to Revenue (EV/Rev)	1.02	1.08	1.33	1.20	1.20	1.11	1.21	1.29	1.14	1.14	1.16
Enterprise Value to EBITDA (EV/EBITDA)	7.14	7.86	10.06	9.74	10.28	10.63	12.48	13.78	12.45	12.52	12.32
Enterprise Value to EBIT (EV/EBIT)	8.06	8.94	11.55	11.38	12.23	13.06	15.74	17.57	15.93	15.92	15.39
Enterprise Value to NOPAT (EV/NOPAT)	10.71	11.88	15.38	15.10	16.10	17.24	20.58	22.92	20.87	21.06	20.33
Enterprise Value to Operating Cash Flow (EV/OCF)	7.83	9.52	13.63	11.55	11.39	10.78	12.06	14.39	15.46	19.63	18.70
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	14.28	24.44	25.97	26.59	24.33	25.64	23.06	24.87	36.58	29.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.15	0.14	0.15	0.17	0.16	0.21	0.20	0.19	0.20	0.24
Long-Term Debt to Equity	0.15	0.15	0.14	0.15	0.12	0.10	0.15	0.14	0.19	0.20	0.24
Financial Leverage	0.02	0.04	0.04	0.07	0.07	0.06	0.09	0.13	0.14	0.14	0.19
Leverage Ratio	1.36	1.40	1.37	1.37	1.38	1.37	1.40	1.41	1.42	1.42	1.49
Compound Leverage Factor	1.32	1.36	1.33	1.33	1.32	1.27	1.34	1.34	1.34	1.29	1.42
Debt to Total Capital	12.86%	12.87%	12.58%	13.03%	14.69%	13.64%	17.15%	16.44%	15.89%	16.52%	19.19%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	4.63%	4.77%	4.66%	4.62%	0.00%	0.01%	0.00%
Long-Term Debt to Total Capital	12.86%	12.87%	12.58%	13.03%	10.06%	8.87%	12.50%	11.83%	15.88%	16.51%	19.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.12%	0.12%	0.11%	0.11%	0.12%	0.13%	0.14%	0.12%	0.12%	0.11%	0.10%
Common Equity to Total Capital	87.01%	87.01%	87.31%	86.86%	85.19%	86.22%	82.71%	83.44%	83.99%	83.37%	80.71%
Debt to EBITDA	0.53	0.56	0.60	0.65	0.77	0.79	1.11	1.11	1.08	1.09	1.21
Net Debt to EBITDA	0.08	0.03	0.11	0.45	0.58	0.57	0.90	0.92	0.88	0.92	1.04
Long-Term Debt to EBITDA	0.53	0.56	0.60	0.65	0.53	0.51	0.81	0.80	1.08	1.09	1.21
Debt to NOPAT	0.80	0.85	0.91	1.01	1.21	1.28	1.84	1.85	1.81	1.83	2.00
Net Debt to NOPAT	0.12	0.05	0.17	0.70	0.91	0.92	1.49	1.54	1.47	1.55	1.71
Long-Term Debt to NOPAT	0.80	0.85	0.91	1.01	0.83	0.83	1.34	1.33	1.81	1.83	2.00
Altman Z-Score	6.35	6.47	7.11	6.40	6.05	5.91	5.54	5.77	5.51	5.63	5.38
Noncontrolling Interest Sharing Ratio	0.14%	0.13%	0.12%	0.13%	0.14%	0.14%	0.15%	0.13%	0.14%	0.14%	0.15%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.53	5.66	5.74	5.02	3.31	3.21	3.17	3.18	4.43	4.88	4.39
Quick Ratio	3.01	3.03	3.06	2.27	1.48	1.37	1.47	1.42	1.97	2.07	2.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-7,603	42	-163	-206	-204	-148	52	236	77	-203	12
Operating Cash Flow to CapEx	371.31%	476.95%	116.19%	373.01%	411.26%	426.78%	74.22%	261.42%	326.03%	395.56%	235.83%
Free Cash Flow to Firm to Interest Expense	-783.82	4.28	-16.77	-21.19	-18.71	-14.76	4.48	16.49	5.33	-13.11	0.81
Operating Cash Flow to Interest Expense	48.04	53.63	13.02	37.76	42.56	47.33	5.61	16.01	18.18	17.81	9.83
Operating Cash Flow Less CapEx to Interest Expense	35.10	42.39	1.81	27.64	32.21	36.24	-1.95	9.89	12.60	13.31	5.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.87	1.42	1.39	1.36	1.35	1.35	1.30	1.31	1.34	1.40	1.40
Accounts Receivable Turnover	0.00	9.75	8.31	8.43	8.69	9.83	8.15	8.25	8.59	9.92	8.18
Inventory Turnover	0.00	5.08	4.84	4.42	4.54	4.78	4.51	4.26	4.38	4.83	4.87
Fixed Asset Turnover	0.00	7.01	6.68	6.26	5.99	5.77	5.60	5.43	5.43	5.52	5.70
Accounts Payable Turnover	0.00	24.94	20.18	20.74	22.12	25.20	19.91	19.85	20.84	27.64	19.74
Days Sales Outstanding (DSO)	0.00	37.45	43.92	43.30	42.01	37.13	44.81	44.24	42.48	36.79	44.60
Days Inventory Outstanding (DIO)	0.00	71.84	75.44	82.49	80.35	76.35	80.86	85.68	83.35	75.51	74.95
Days Payable Outstanding (DPO)	0.00	14.64	18.09	17.60	16.50	14.49	18.33	18.39	17.52	13.21	18.49
Cash Conversion Cycle (CCC)	0.00	94.66	101.27	108.19	105.85	98.99	107.34	111.54	108.31	99.09	101.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,900	7,795	8,151	8,426	8,314	8,055	8,309	8,430	8,436	8,384	8,576
Invested Capital Turnover	3.82	1.93	1.83	1.74	1.73	1.75	1.66	1.62	1.66	1.74	1.76
Increase / (Decrease) in Invested Capital	7,900	225	464	475	414	260	158	4.50	123	329	267
Enterprise Value (EV)	15,308	15,916	19,265	17,140	16,874	15,408	16,503	17,704	15,901	16,318	17,176
Market Capitalization	15,132	15,843	19,046	16,337	15,911	14,572	15,296	16,507	14,770	15,104	15,723
Book Value per Share	$131.91	$134.37	$138.13	$132.74	$133.61	$133.40	$134.07	$137.56	$138.90	$137.13	$137.69
Tangible Book Value per Share	$78.99	$80.56	$83.95	$76.96	$75.40	$74.84	$74.36	$77.49	$79.08	$77.27	$77.21
Total Capital	8,877	8,875	9,086	8,777	8,629	8,373	8,587	8,670	8,698	8,600	8,826
Total Debt	1,142	1,142	1,143	1,144	1,267	1,143	1,473	1,426	1,382	1,421	1,694
Total Long-Term Debt	1,142	1,142	1,143	1,143	868	743	1,073	1,026	1,382	1,420	1,694
Net Debt	165	62	208	793	953	824	1,195	1,186	1,121	1,204	1,444
Capital Expenditures (CapEx)	126	110	109	98	113	111	87	88	80	70	64
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3,004	2,848	3,131	3,199	3,025	2,764	3,003	3,106	3,111	3,077	3,281
Debt-free Net Working Capital (DFNWC)	3,981	3,929	4,066	3,549	3,340	3,082	3,281	3,345	3,372	3,294	3,531
Net Working Capital (NWC)	3,980	3,928	4,066	3,549	2,940	2,683	2,881	2,945	3,372	3,293	3,531
Net Nonoperating Expense (NNE)	1.14	-6.73	-2.38	1.53	9.90	6.59	9.17	6.08	9.28	8.68	14
Net Nonoperating Obligations (NNO)	165	62	208	793	953	824	1,195	1,186	1,121	1,204	1,444
Total Depreciation and Amortization (D&A)	61	63	64	67	68	71	69	70	71	69	69
Debt-free, Cash-free Net Working Capital to Revenue	19.92%	19.24%	21.62%	22.45%	21.54%	19.98%	21.96%	22.68%	22.34%	21.53%	22.11%
Debt-free Net Working Capital to Revenue	26.40%	26.53%	28.07%	24.91%	23.78%	22.28%	23.99%	24.43%	24.22%	23.04%	23.80%
Net Working Capital to Revenue	26.40%	26.53%	28.07%	24.91%	20.93%	19.39%	21.07%	21.51%	24.22%	23.04%	23.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.05	$4.78	$5.28	$4.71	$3.64	$2.07	$3.76	$4.44	$3.61	$2.26	$5.13
Adjusted Weighted Average Basic Shares Outstanding	58.43M	58.33M	57.34M	56.88M	54.69M	55.75M	53.08M	52.61M	52.48M	52.56M	51.63M
Adjusted Diluted Earnings per Share	$4.99	$4.73	$5.23	$4.67	$3.61	$2.05	$3.74	$4.42	$3.59	$2.23	$5.10
Adjusted Weighted Average Diluted Shares Outstanding	59.12M	59.02M	57.88M	57.39M	55.18M	56.25M	53.40M	52.92M	52.82M	52.88M	51.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.47M	57.43M	57.43M	55.02M	54.12M	52.97M	52.59M	52.59M	52.29M	51.73M	51.05M
Normalized Net Operating Profit after Tax (NOPAT)	297	267	301	270	210	113	210	240	199	126	280
Normalized NOPAT Margin	8.20%	7.99%	8.27%	7.41%	6.13%	3.60%	6.02%	6.57%	5.46%	3.59%	6.94%
Pre Tax Income Margin	10.71%	9.99%	10.87%	9.60%	7.62%	4.27%	7.53%	8.31%	6.78%	4.42%	8.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	41.00	35.01	41.85	37.05	24.90	14.35	23.82	22.28	18.20	10.99	23.69
NOPAT to Interest Expense	30.63	27.21	31.07	27.82	19.25	11.26	18.23	16.80	13.84	8.10	18.15
EBIT Less CapEx to Interest Expense	28.06	23.77	30.64	26.93	14.55	3.26	16.26	16.15	12.63	6.48	19.53
NOPAT Less CapEx to Interest Expense	17.70	15.97	19.87	17.69	8.90	0.17	10.68	10.68	8.26	3.60	13.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.42%	17.77%	19.17%	21.50%	23.66%	28.44%	32.22%	33.77%	34.54%	34.34%	31.75%
Augmented Payout Ratio	39.12%	53.55%	54.15%	99.12%	137.64%	153.01%	206.08%	157.66%	109.32%	115.80%	104.28%

Financials Breakdown Chart

Key Financial Trends

Reliance, Inc. (RS) has shown a rebound in 2025 after a softer 2024, with a stable margin profile and ongoing cash generation. For 2025, the company posted a stronger quarterly revenue base (notably to 3.50B in Q4 2025, up from 3.13B in Q4 2024), and gross margins generally hovering near 27–28%. Operating cash flow remained positive across the year, supporting capex and shareholder returns, while net income to common shareholders stayed solid across the quarters. The balance sheet remains well capitalized with a large equity base, though debt levels rose modestly in 2025. The company continued to return value through a steady dividend and modest share repurchases, while investing in plant and equipment to support growth.

From a four-year view (2022–2025), the trend shows:

Revenue trends improved in 2025 after a softer 2024, with 2025-quarter revenue levels rebounding to about 3.5B in Q4, up from around 3.13B in Q4 2024.
Gross margins have remained solid, roughly in the high-20s percentages (about 27–28%), indicating stable profitability despite quarterly volatility.
Operating cash flow has generally been positive across quarters, with 2025-Q4 net cash from continuing operating activities at about 276.1M, signaling healthy cash generation to fund capex and distributions.
Net income to common shareholders was positive in all 2025 quarters, with quarterly values ranging from approximately 116.5M (Q4 2025) to 189.5M (Q3 2025), supporting a constructive earnings trajectory.
Dividend per share remained steady at 1.20 USD, providing consistent income for shareholders as part of a steady capital-return policy.
Balance sheet shows a strong equity base (Total equity around 7.3B in 2025-Q3) and total liabilities around 3.2B, indicating solid capitalization and a favorable equity cushion.
Debt levels rose modestly in 2025 (Long-Term Debt about 1.38B by 2025-Q3), suggesting rising leverage but still manageable given cash flow and equity support.
Cash on hand has been moderate (Cash & Equivalents around 260M–280M in recent quarters), implying solid liquidity but limited cushion relative to annual revenue scale.
Financing activities have been negative in several quarters due to share repurchases and debt-related actions, which reduced cash reserves at times.
Net change in cash and equivalents has shown periods of negativity (e.g., roughly -44.6M in 2025-Q4), reflecting cash outflows from investing/financing activity in that period.

05/17/26 03:47 PM ETAI Generated. May Contain Errors.

Reliance Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Reliance's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Reliance's net income appears to be on an upward trend, with a most recent value of $741.60 million in 2025, rising from $316.20 million in 2015. The previous period was $878 million in 2024. Find out what analysts predict for Reliance in the coming months.

Reliance's total operating income in 2025 was $1.01 billion, based on the following breakdown:

Total Gross Profit: $4.11 billion
Total Operating Expenses: $3.09 billion

Over the last 10 years, Reliance's total revenue changed from $9.35 billion in 2015 to $14.29 billion in 2025, a change of 52.9%.

Reliance's total liabilities were at $3.19 billion at the end of 2025, a 14.4% increase from 2024, and a 0.5% increase since 2015.

In the past 10 years, Reliance's cash and equivalents has ranged from $104.30 million in 2015 to $1.17 billion in 2022, and is currently $216.60 million as of their latest financial filing in 2025.

Over the last 10 years, Reliance's book value per share changed from 54.63 in 2015 to 137.13 in 2025, a change of 151.0%.

Related Companies

Financial statements for NYSE:RS last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Reliance (RS) Financials

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Reliance (RS) Financials

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Financials Breakdown Chart

Key Financial Trends

Reliance Financials - Frequently Asked Questions

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How has Reliance's revenue changed over the last 10 years?

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