Reliance Steel & Aluminum (RS) financial statements
Reliance Steel & Aluminum reported revenue of $14.3B in fiscal 2025, up 5.8% a year over 9 years.
Net income was $739M and the operating margin 7.1%, against 6.0% in 2016.
Free cash flow was $502M, and the company returned $594M in net buybacks.
The diluted share count fell 28% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Reliance Steel & Aluminum's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.6B | $9.7B | $11.5B | $11.0B | $8.8B | $14.1B | $17.0B | $14.8B | $13.8B | $14.3B |
| Cost of revenue | $6.0B | $6.9B | $8.3B | $7.6B | $6.0B | $9.6B | $11.8B | $10.3B | $9.7B | $10.2B |
| Gross profit | $2.6B | $2.8B | $3.3B | $3.3B | $2.8B | $4.5B | $5.3B | $4.5B | $4.1B | $4.1B |
| Selling, general and admin | $1.8B | $1.9B | $2.1B | $2.1B | $1.9B | $2.3B | $2.5B | $2.6B | $2.7B | $2.8B |
| Operating income | $518M | $662M | $938M | $1.0B | $566M | $1.9B | $2.5B | $1.7B | $1.2B | $1.0B |
| Interest expense | $85M | $74M | $86M | $85M | $63M | $63M | $62M | $40M | $40M | $56M |
| Pre-tax income | $429M | $584M | $851M | $929M | $478M | $1.9B | $2.4B | $1.7B | $1.1B | $969M |
| Income tax | $120M | -$37M | $209M | $223M | $106M | $466M | $586M | $401M | $262M | $228M |
| Net income | $304M | $613M | $634M | $702M | $369M | $1.4B | $1.8B | $1.3B | $875M | $739M |
| EPS (diluted) | $4.16 | $8.34 | $8.75 | $10.34 | $5.66 | $21.97 | $29.92 | $22.64 | $15.56 | $13.98 |
| Diluted shares | 73M | 74M | 72M | 68M | 65M | 64M | 61M | 59M | 56M | 53M |
| Gross margin | 30.1% | 28.7% | 28.4% | 30.3% | 31.5% | 31.9% | 30.8% | 30.7% | 29.7% | 28.7% |
| Operating margin | 6.0% | 6.8% | 8.1% | 9.2% | 6.4% | 13.8% | 14.7% | 11.7% | 8.4% | 7.1% |
| Net margin | 3.5% | 6.3% | 5.5% | 6.4% | 4.2% | 10.0% | 10.8% | 9.0% | 6.3% | 5.2% |
Balance sheet
Fiscal years, from Reliance Steel & Aluminum's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $123M | $154M | $128M | $174M | $684M | $300M | $1.2B | $1.1B | $318M | $217M |
| Receivables | $960M | $1.1B | $1.2B | $1.1B | $926M | $1.7B | $1.6B | $1.5B | $1.3B | $1.5B |
| Inventory | $1.5B | $1.7B | $1.8B | $1.6B | $1.4B | $2.1B | $2.0B | $2.0B | $2.0B | $2.2B |
| Total current assets | $2.7B | $3.1B | $3.3B | $3.0B | $3.1B | $4.2B | $4.9B | $4.8B | $3.9B | $4.1B |
| Property, plant and equipment | $1.7B | $1.7B | $1.7B | $1.8B | $1.8B | $1.8B | $2.0B | $2.2B | $2.5B | $2.6B |
| Goodwill | $1.8B | $1.8B | $1.9B | $2.0B | $1.9B | $2.1B | $2.1B | $2.1B | $2.2B | $2.2B |
| Total assets | $7.4B | $7.8B | $8.0B | $8.1B | $8.1B | $9.5B | $10.3B | $10.5B | $10.0B | $10.4B |
| Total current liabilities | $656M | $704M | $699M | $675M | $613M | $1.1B | $1.4B | $844M | $1.2B | $848M |
| Long-term debt | $1.8B | $1.8B | $2.1B | $1.5B | $1.6B | $1.6B | $1.1B | $1.1B | $743M | $1.4B |
| Total liabilities | $3.2B | $3.1B | $3.4B | $2.9B | $3.0B | $3.4B | $3.2B | $2.7B | $2.8B | $3.2B |
| Shareholders' equity | $4.1B | $4.7B | $4.7B | $5.2B | $5.1B | $6.1B | $7.1B | $7.7B | $7.2B | $7.2B |
| Net debt | $1.8B | $1.7B | $2.1B | $1.3B | $955M | $1.3B | -$34M | $62M | $824M | $1.2B |
Cash flow
Fiscal years, from Reliance Steel & Aluminum's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $626M | $399M | $665M | $1.3B | $1.2B | $799M | $2.1B | $1.7B | $1.4B | $831M |
| Capital spending | $155M | $162M | $240M | $242M | $172M | $237M | $342M | $469M | $431M | $329M |
| Free cash flow | $472M | $237M | $425M | $1.1B | $1.0B | $563M | $1.8B | $1.2B | $999M | $502M |
| Stock-based compensation | $24M | $33M | $46M | $51M | $42M | $71M | $65M | $65M | $57M | $56M |
| Share buybacks (net) | — | -$25M | -$485M | -$50M | -$337M | -$324M | -$630M | -$480M | -$1.1B | -$594M |
| Net borrowing | -$1M | -$32M | -$1.2B | -$1.6B | -$1.6B | -$22M | -$2M | -$508M | -$663M | -$2.4B |
| Free cash flow margin | 5.5% | 2.4% | 3.7% | 9.7% | 11.4% | 4.0% | 10.4% | 8.1% | 7.2% | 3.5% |
Questions
What was Reliance Steel & Aluminum's revenue in 2025?
$14.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Reliance Steel & Aluminum generate?
$502M in fiscal 2025 (operating cash flow minus capital spending).
From Reliance Steel & Aluminum's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.