Reliance, Inc. (Reliance), headquartered in Scottsdale, Arizona, is the largest metals service center operator in North America. The company provides metals processing services and distributes a line of approximately 100,000 metal products, including aluminum, brass, alloy, copper, carbon steel, stainless steel, titanium, and specialty metal products to 125,000 customers such as fabricators and manufacturers. The company is ranked 309th on the Fortune 500 (2025).3Wikipedia text CC BY-SA 4.0
$410.66up 3.99 (0.98%)Price as of Oct 16, 2026 at 19:58 UTC
Reliance, Inc. (Reliance), headquartered in Scottsdale, Arizona, is the largest metals service center operator in North America. The company provides metals processing services and distributes a line of approximately 100,000 metal products, including aluminum, brass, alloy, copper, carbon steel, stainless steel, titanium, and specialty metal products to 125,000 customers such as fabricators and manufacturers.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Where each dollar of operating cash went, fiscal 2025
Capital spendingShare buybacks
Capital spending36¢$328.9M
Share buybacks64¢$594.1M
Out of $831.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.10
Financial statements
Revenue1112131410$14.3B in 2025+30% since 2019Operating income1112131410$1.0B in 2025−0% since 2019Net income1112131410$739.4M in 2025+5% since 2019
Revenue1516$4.0B in Q1 FY2026+10% since Q3 FY2025Operating income1516$367.9M in Q1 FY2026+42% since Q3 FY2025Net income1516$264.9M in Q1 FY2026+40% since Q3 FY2025
Total assets171112131410$10.4B in 2025+28% since 2019Total liabilities131410$3.2B in 2025−1% since 2022Shareholders’ equity171112131410$7.2B in 2025+38% since 2019Cash171112131410$216.6M in 2025+24% since 2019Long-term debt171112131410$1.4B in 2025−7% since 2019
Total assets1516$10.8B in Q1 FY2026+2% since Q3 FY2025Total liabilities1516$3.7B in Q1 FY2026+14% since Q3 FY2025Shareholders’ equity1516$7.1B in Q1 FY2026−2% since Q3 FY2025Cash1516$249.7M in Q1 FY2026−4% since Q3 FY2025Long-term debt1516$1.7B in Q1 FY2026+23% since Q3 FY2025
Cash from operations1112131410$831.4M in 2025−36% since 2019Capital spending1112131410$328.9M in 2025+36% since 2019Free cash flow1112131410$502.5M in 2025−53% since 2019Share buybacks1112131410$594.1M in 2025+1088% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Reliance, Inc. sits at the top of its group. 19 entities, 11 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
BlackRockFiled SC 13G/A on Reliance, Inc., latest Jan 24, 2024 (5 filings since Feb 1, 2022)
Reliance, Inc.Los Angeles, California, United States
Acero Prime, S. de R.L. de C.V., a limited liability company formed under the laws of Subsidiary · Mexico
Aleaciones Especiales de Mexico, S. de R.L. de C.V., a limited liability company formed under the laws of Subsidiary · Mexico
All Metal Services (Malaysia) Sdn. Bhd., a private company limited by shares formed under the laws of Subsidiary · Malaysia
All Metal Services Limited, a private limited company formed under the laws of Subsidiary · United Kingdom
AMI Metals Europe SRL, a limited liability company formed under the laws of Subsidiary · Belgium
AMI Metals France SAS, a simplified joint stock company formed under the laws of Subsidiary · France
AMI Metals UK Limited, a private limited company formed under the laws of Subsidiary · United Kingdom
Chapel Steel Canada, Ltd., a corporation formed under the federal laws of Subsidiary · Canada
Continental Alloys & Services (Malaysia) Sdn. Bhd., a private company limited by shares formed under the laws of Subsidiary · Malaysia
Continental Alloys & Services Limited, a private limited company formed under the laws of Subsidiary · United Kingdom
Continental Alloys & Services Pte. Ltd., a private company limited by shares formed under the laws of Subsidiary · Singapore
Continental Alloys Middle East FZE, a free zone establishment formed under the laws of Subsidiary · United Arab Emirates
Metalweb Limited, a private limited company formed under the laws of Subsidiary · United Kingdom
Reliance Metalcenter Asia Pacific Pte. Ltd., a private company limited by shares formed under the laws of Subsidiary · Singapore
Reliance Metals Canada Limited, a corporation formed under the federal laws of Subsidiary · Canada
United Pipe & Steel Subsidiary
Valex Korea Co., Ltd., a corporation formed under the laws of the Republic of Subsidiary · South Korea
Valex Semiconductor Materials (Zhejiang) Co., Ltd., a limited liability company formed under the laws of the People’s Republic of Subsidiary · China
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Reliance, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
As of December 31, 2025, we operated a network of approximately 310 locations in 41 U.S. states and 10 foreign countries. In the opinion of management, all of our facilities are in good condition and are adequate for our existing operations. These facilities currently operate at about 50-60% of capacity based upon a 24-hour seven-day week, with each location averaging approximately two shifts operating at full capacity for a five-day work week. We have the ability to increase our operating capacity significantly without further investment in facilities or equipment if demand levels increase.
We leased 75 of our metals service center facilities as of December 31, 2025. In addition, we have ground leases and other leased spaces, such as depots, sales offices, and storage, totaling 5.9 million square feet. Total square footage on all company-owned properties is approximately 33.3 million and represents approximately 85% of the aggregate square footage of our operating facilities. Our leases of facilities and other spaces expire at various times through 2045, and our ground leases expire at various times through 2068.
The company was founded in Los Angeles on February 3, 1939 by Thomas J. Neilan. Originally named Reliance Steel Products Company, the business made and sold steel reinforcing bars (rebar) for the construction industry. In 1944, the name was shortened to Reliance Steel Company.
On September 14, 1994, the company became a public company via an initial public offering.
Reliance Steel & Aluminum Co. changed the company name to Reliance, Inc. on February 15, 2024.
Oct 21, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $3.64 a share, on Oct 22, 2025.77
When it reported results
Jul 22, 2026Reported quarterly or annual results65
Apr 22, 2026Reported quarterly or annual results67
Feb 18, 2026Reported quarterly or annual results68
Oct 22, 2025Reported quarterly or annual results69
Jul 23, 2025Reported quarterly or annual results72
Apr 23, 2025Reported quarterly or annual results74
Feb 19, 2025Reported quarterly or annual results75
Oct 24, 2024Reported quarterly or annual results78
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
303 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 33 major events, 170 insider forms, 14 large holders, 66 other. The latest 20:
56 open-market trades by officers, directors and large owners since October 2021: 0 buys and 56 sales. Grants, option exercises and gifts are left out.
BlackRockSC 13G/A, 5 filings Feb 1, 2022 to Jan 24, 202484
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).18
Risk factors and legal proceedings
The risks Reliance, Inc. names in Item 1A of its 10-K filed Feb 26, 2026: 25 risks under these headings, as written.18
Risks Related to Our Business and Industry
The costs that we pay for metals fluctuate due to a number of factors beyond our control, and such fluctuations could adversely affect our operating results, particularly in periods in which metals price increases are not supported by underlying demand and we are unable to fully pass our higher metal costs to our customers or during periods of declining metals prices and we are unable to quickly lower our inventory costs on hand.
Global economic conditions, including inflation, elevated interest rates, infectious disease and supply chain disruptions, have adversely affected, and could continue to adversely affect, our operations.
Excess capacity and over-production by foreign metal producers or decreases in tariffs could increase the level of metal imports into the U.S., resulting in lower domestic prices, which would adversely affect our sales, margins and profitability.
We operate in an industry that is subject to cyclical fluctuations and any downturn in general economic conditions or in our customers’ specific industries could negatively impact our profitability and cash flows.
We compete with a large number of companies in the metals service center industry, and, if we are unable to compete effectively, our profitability and cash flows may decline.
If we were to lose any of our primary suppliers or otherwise be unable to obtain sufficient amounts of necessary metals on a timely basis, we may not be able to meet our customers’ needs and may suffer reduced sales.
We rely upon our suppliers as to the specifications of the metals we purchase from them.
We face increased competition and pricing pressures from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements.
Our insurance coverage, vendor indemnifications or other liability protections may be unavailable or inadequate to cover all of our significant risks, or our insurers may deny coverage of or be unable to pay for material losses we incur, which could adversely affect our profitability and overall financial position.
We may not be successful in achieving expected operating efficiencies and sustaining or improving operating expense reductions, and might experience business disruptions associated with restructuring, realignment and cost reduction activities.
The other 14 risks
Acquisitions present many risks, and we may not realize the financial and strategic goals that were contemplated at the time of each transaction.
If we do not successfully implement our growth strategy, our ability to grow our business could be impaired.
We are a decentralized company which presents certain risks.
We are subject to various environmental, employee safety and health, and customs and export laws and regulations, which could subject us to significant liabilities and compliance expenditures.
We operate internationally and are subject to changes in tax rates, exchange rate fluctuations, exchange controls, political risks and other risks relating to international operations.
We rely on information management systems and any damage, interruption or compromise of our information technology management systems, networks or data could disrupt and harm our business.
Our enterprise data practices, including the collection, use, sharing, and security of the personal identifiable information of our customers, employees, or suppliers are subject to increasingly complex, restrictive, and punitive regulations in all key market regions.
Our financial results may be affected by various legal and regulatory proceedings, including those involving antitrust, tax, environmental, or other matters.
The volatility of the stock market could result in a material impairment of goodwill or indefinite-lived intangible assets.
Our business operations and financial performance could be adversely affected by changes in our relationship with our employees or changes to U.S. or foreign employment regulations.
We face certain risks associated with potential labor disruptions.
If we are unable to attract, retain and develop key personnel, our business could be materially adversely affected.
Risks Related to our Indebtedness
Our indebtedness could impair our financial condition or cause a downgrade of our credit rating and reduce the funds available to us for other purposes and our failure to comply with the covenants contained in our debt instruments could result in an event of default that could adversely affect our operating results.
Because a substantial portion of our indebtedness bears interest at rates that fluctuate with changes in certain prevailing short-term interest rates, we are vulnerable to increases in interest rates.
Legal proceedings
The information contained under the captions “Legal Matters” and “Environmental Contingencies” in Note 17—“Commitments and Contingencies” to our consolidated financial statements in Part II, Item 8, “Financial Statements and Supplementary Data” is incorporated herein by reference.
