← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Reliance sold a record tonnage and gained share in a shrinking market, lifting revenue 3.3% to $14.29B, but tariff-driven LIFO charges cut net income 15.5% and higher working capital halved free cash flow
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 3.3% to $14.29B; tons sold up 6.2% against an industry decline of 1.0%OK
- Profitability — Operating margin down 130 bps to 7.08%; net income down 15.5% to $739.4MWatch
- Balance sheet — Total debt $1.42B against equity of $7.17BOK
- Accounting quality — Safe-zone balance-sheet screen; no manipulation flag; earnings quality safeOK
- Capital allocation — $594.1M of buybacks and $254.7M of dividends against $502.5M of free cash flowNote
- Pricing — Average selling price per ton down 2.6%; LIFO swung to $113.7M of expenseWatch
Business
Reliance is the largest metals service center company in North America by revenue. It buys carbon steel, aluminum, stainless, alloy and other metals from mills, cuts and processes them, and delivers small orders fast to more than 125,000 customers from approximately 310 locations; approximately 40% of 2025 orders were delivered within 24 hours and approximately 50% of orders include value-added processing. Its U.S. locations sold approximately 17% of industry tons in 2025.
Where the revenue comes from
Fiscal 2025, as RELIANCE, INC. reports it. History and quarterly detail are in the app.
- Carbon Steel$7.9B
- Aluminum$2.5B
- Stainless Steel$1.9B
- Toll Processing$646.9M
- Alloy Steel$641.0M
Leadership changes
From RELIANCE, INC.'s own filings, the day they're filed.
- John G. Sznewajs · director · appointmenteff. 2025-10-01
- James K. Kamsickas · director · appointmenteff. 2024-10-01
- Kalamazoo College · director · appointment
Latest filings
- 10-Q · Quarterly report2026-07-28
- 8-K · Company announcement2026-07-22
- 8-K · Company announcement2026-05-21
- 10-Q · Quarterly report2026-04-29
- 8-K · Company announcement2026-04-22
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about RELIANCE, INC., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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