RELIANCE, INC.

Listed Company

RSCIK 0000861884NYSELarge AcceleratedWholesale-Metals Service Centers & Of FicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$14.29B

Net Income

$739.40M

Total Assets

$10.37B

Equity

$7.17B

Shares Out

51.05M

Op. Cash Flow

$831.40M

Business

RELIANCE, INC. operates a network of companies that provide diversified metal solutions as a metals service center business. It distributes a broad line of metal products—including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and other specialty steels—and offers extensive value‑added processing services such as cutting, sawing, machining, leveling and toll processing. The company has one operating and reportable segment: metals service centers, run through a decentralized structure of operating divisions and trade names. It serves customers across the U.S., Canada and multiple international markets via local service centers and direct delivery channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Sales	14,294	13,835	14,806	17,025	14,093
Cost of sales (exclusive of depreciation and amortization shown below)	10,187	9,728	10,259	11,774	9,603
Warehouse, delivery, selling, general and administrative	2,807	2,666	2,562	2,504	2,307
Depreciation and amortization	278	269	245	240	230
Impairment	10	12	—	—	5
Total costs and expenses	13,282	12,675	13,066	14,518	12,144
Operating income	1,013	1,160	1,740	2,507	1,949
Interest expense	56	40	40	62	—
Other income, net	−12	−20	−41	14	3
Income before income taxes	969	1,140	1,741	2,430	1,883
Income tax provision	228	262	401	586	466
Net income	742	878	1,340	1,844	1,417
Less: net income attributable to noncontrolling interests	2	3	4	4	4
Net income attributable to Reliance	739	875	1,336	—	—
Basic (in dollars per share)	14.07	15.7	22.9	30.39	22.35
Diluted (in dollars per share)	13.98	15.56	22.64	29.92	21.97
Basic (in shares)	53	56	58	61	63
Diluted (in shares)	53	56	59	61	64

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	217	318	1,080	1,173	301
Accounts receivable, less allowance for credit losses of $22.1 and $23.2	1,540	1,342	1,472	1,566	1,683
Inventories	2,188	2,027	2,043	1,995	2,065
Prepaid expenses and other current assets	166	148	140	116	112
Income taxes receivable	31	60	36	37	—
Total current assets	4,141	3,896	4,772	4,887	4,160
Property, plant and equipment, net	2,633	2,545	2,248	1,975	1,837
Operating lease right-of-use assets	315	275	232	216	225
Goodwill	2,170	2,162	2,111	2,106	2,108
Intangible assets, net	960	1,007	981	1,020	1,078
Cash surrender value of life insurance policies, net	48	46	44	42	45
Other long-term assets	106	91	93	85	84
Total assets	10,373	10,022	10,480	10,330	9,536
Accounts payable	375	362	410	412	454
Accrued expenses	150	144	119	119	148
Accrued compensation and retirement benefits	198	195	214	240	294
Accrued insurance costs	56	50	44	43	41
Current maturities of long-term debt	700,000	400	300,000	—	—
Current maturities of operating lease liabilities	68	61	56	53	59
Total current liabilities	848	1,213	844	1,375	1,065
Long-term debt	1,420	743	1,142	1,139	1,642
Operating lease liabilities	251	214	179	165	163
Long-term retirement benefits	25	27	25	26	81
Other long-term liabilities	74	57	64	51	50
Deferred income taxes	576	538	494	477	485
Total liabilities	3,194	2,791	2,748	3,234	—
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.001 par value: 5,000 shares authorized; none issued or outstanding	—	—	—	—	—
Common stock and additional paid-in capital, $0.001 par value and 200,000 shares authorized Issued and outstanding shares-51,735 and 53,715	100,000	100,000	100,000	100,000	100,000
Retained earnings	7,258	7,335	7,799	7,174	6,155
Accumulated other comprehensive loss	−88	−115	−77	−86	−69
Total Reliance stockholders' equity	7,170	7,220	7,722	7,087	6,087
Noncontrolling interests	9	11	11	9	7
Total equity	7,180	7,231	7,733	7,096	6,094
Total liabilities and equity	10,373	10,022	10,480	10,330	9,536

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for credit losses	3	2	4	3	10
Deferred income tax provision	37	36	16	−7	−24
Stock-based compensation expense	56	57	65	65	71
Other	−13	10	−800,000	5	−5
Accounts receivable	−195	167	96	106	−656
Inventories	−155	117	−42	59	−506
Prepaid expenses and other assets	76	27	37	17	26
Accounts payable and other liabilities	−7	−146	−90	−237	226
Net cash provided by operating activities	831	1,430	1,671	2,119	799
Acquisitions, net of cash acquired	−3	−365	−24	—	−439
Purchases of property, plant and equipment	−329	−431	−469	−342	−237
Proceeds from sales of property, plant and equipment	17	5	11	11	36
Other	−7	−13	−2	−18	−12
Net cash used in investing activities	−322	−804	−484	−349	−652
Net short-term debt borrowings	—	—	−2	−2	−800,000
Proceeds from long-term debt borrowings	2,701	663	—	—	20
Principal payments on long-term debt	−2,424	−663	−506	−300,000	−21
Cash dividends and dividend equivalents	−255	−250	−238	−217	−177
Share repurchases	−594	−1,094	−480	−630	−324
Taxes paid related to net share settlement of restricted stock units	−18	−43	−54	−40	−21
Excise tax on repurchase of common shares	−10	—	—	—	—
Other	−20	10	−2	−3	−6
Net cash used in financing activities	−620	−1,376	−1,282	−893	−529
Effect of exchange rate changes on cash and cash equivalents	9	−12	2	−5	−1
Decrease in cash and cash equivalents	−102	−762	−93	873	−383
Interest paid	55	38	42	60	59
Income taxes paid, net	164	245	386	692	444

Filings

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