Latest Ratios: P/E Ratio 27.1x · EV/EBITDA 16.3x · ROE 10.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $19.4B | $15.3B | $15.1B | $16.5B | $12.4B | $10.4B | $7.8B | $8.1B | $5.2B | $6.3B | $5.8B |
| Enterprise Value | $21.2B | $17.0B | $16.2B | $16.8B | $13.1B | $12.0B | $9.0B | $9.7B | $7.2B | $8.1B | $7.6B |
| P/E Ratio → | 27.14 | 20.66 | 17.30 | 12.35 | 6.77 | 7.38 | 21.16 | 11.58 | 8.13 | 10.29 | 19.12 |
| P/S Ratio | 1.36 | 1.07 | 1.09 | 1.11 | 0.73 | 0.74 | 0.89 | 0.74 | 0.45 | 0.65 | 0.68 |
| P/B Ratio | 2.79 | 2.13 | 2.09 | 2.13 | 1.75 | 1.71 | 1.53 | 1.56 | 1.10 | 1.34 | 1.39 |
| P/FCF | 38.58 | 30.40 | 15.16 | 13.73 | 7.01 | 18.54 | 7.81 | 7.67 | 12.14 | 26.58 | 12.33 |
| P/OCF | 23.32 | 18.37 | 10.59 | 9.88 | 5.88 | 13.05 | 6.66 | 6.24 | 7.76 | 15.81 | 9.28 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.19 | 1.17 | 1.13 | 0.77 | 0.85 | 1.02 | 0.89 | 0.63 | 0.83 | 0.88 |
| EV / EBITDA | 16.27 | 13.11 | 11.25 | 8.47 | 4.78 | 5.50 | 9.45 | 7.90 | 6.16 | 9.10 | 9.54 |
| EV / EBIT | 20.69 | 16.63 | 13.76 | 9.44 | 5.27 | 5.91 | 14.48 | 8.95 | 7.18 | 11.12 | 13.24 |
| EV / FCF | — | 33.93 | 16.26 | 13.97 | 7.40 | 21.33 | 8.97 | 9.20 | 17.03 | 33.93 | 16.16 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.8% | 26.8% | 27.7% | 29.1% | 29.4% | 30.2% | 29.3% | 28.3% | 26.6% | 26.4% | 27.6% |
| Operating Margin | 7.2% | 7.2% | 8.5% | 11.7% | 14.7% | 13.9% | 8.2% | 9.2% | 8.3% | 6.9% | 6.7% |
| Net Profit Margin | 5.2% | 5.2% | 6.3% | 9.0% | 10.8% | 10.0% | 4.2% | 6.4% | 5.5% | 6.3% | 3.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.3% | 10.3% | 11.7% | 18.0% | 27.9% | 25.2% | 7.1% | 14.2% | 13.5% | 13.8% | 7.5% |
| ROA | 7.3% | 7.3% | 8.5% | 12.8% | 18.5% | 16.0% | 4.5% | 8.7% | 8.0% | 8.1% | 4.2% |
| ROIC | 8.9% | 8.9% | 10.8% | 16.5% | 24.4% | 21.0% | 8.3% | 11.2% | 10.9% | 8.0% | 7.4% |
| ROCE | 11.2% | 11.2% | 12.7% | 18.7% | 28.8% | 24.5% | 9.7% | 13.7% | 13.3% | 9.7% | 9.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.28 | 0.20 | 0.18 | 0.26 | 0.31 | 0.36 | 0.34 | 0.47 | 0.40 | 0.46 |
| Debt / EBITDA | 1.53 | 1.53 | 0.98 | 0.69 | 0.68 | 0.86 | 1.95 | 1.45 | 1.88 | 2.15 | 2.41 |
| Net Debt / Equity | — | 0.25 | 0.15 | 0.04 | 0.10 | 0.26 | 0.23 | 0.31 | 0.44 | 0.37 | 0.43 |
| Net Debt / EBITDA | 1.36 | 1.36 | 0.76 | 0.15 | 0.25 | 0.72 | 1.23 | 1.31 | 1.77 | 1.97 | 2.26 |
| Debt / FCF | — | 3.53 | 1.10 | 0.25 | 0.39 | 2.79 | 1.17 | 1.53 | 4.89 | 7.36 | 3.83 |
| Interest Coverage | 18.40 | 18.40 | 29.29 | 44.41 | 40.01 | 13.71 | 4.36 | 6.85 | 6.44 | 5.16 | 3.93 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.88 | 4.88 | 3.21 | 5.66 | 3.55 | 3.91 | 5.08 | 4.46 | 4.70 | 4.34 | 4.10 |
| Quick Ratio | 2.30 | 2.30 | 1.54 | 3.23 | 2.10 | 1.97 | 2.76 | 2.02 | 2.10 | 1.88 | 1.76 |
| Cash Ratio | 0.26 | 0.26 | 0.26 | 1.28 | 0.85 | 0.28 | 1.12 | 0.26 | 0.18 | 0.22 | 0.19 |
| Asset Turnover | — | 1.38 | 1.38 | 1.41 | 1.65 | 1.48 | 1.09 | 1.35 | 1.43 | 1.25 | 1.16 |
| Inventory Turnover | 4.78 | 4.78 | 4.93 | 5.14 | 6.02 | 4.76 | 4.38 | 4.78 | 4.66 | 4.14 | 4.07 |
| Days Sales Outstanding | — | 39.32 | 37.00 | 37.18 | 34.35 | 43.59 | 38.46 | 36.75 | 39.81 | 40.93 | 40.69 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 1.7% | 1.6% | 1.4% | 1.7% | 1.7% | 2.1% | 1.9% | 2.8% | 2.1% | 2.1% |
| Payout Ratio | 34.4% | 34.4% | 28.5% | 17.8% | 11.8% | 12.5% | 44.5% | 21.6% | 22.9% | 21.5% | 39.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 4.8% | 5.8% | 8.1% | 14.8% | 13.5% | 4.7% | 8.6% | 12.3% | 9.7% | 5.2% |
| FCF Yield | 2.6% | 3.3% | 6.6% | 7.3% | 14.3% | 5.4% | 12.8% | 13.0% | 8.2% | 3.8% | 8.1% |
| Buyback Yield | 3.1% | 3.9% | 7.2% | 2.9% | 5.1% | 3.1% | 4.3% | 0.6% | 9.4% | 0.4% | 0.0% |
| Total Shareholder Yield | 4.3% | 5.6% | 8.9% | 4.3% | 6.8% | 4.8% | 6.4% | 2.5% | 12.2% | 2.5% | 2.1% |
| Shares Outstanding | — | $53M | $56M | $59M | $61M | $64M | $65M | $68M | $72M | $74M | $73M |
Cyclical industrial demand exposure
Based on current market data, RS trades at a forward P/E of 19.22, which appears to command a premium over smaller, more leveraged peers like Olympic Steel, reflecting investor confidence in the company's decentralized service model and its consistent ability to generate superior margins through the cycle.
The current valuation suggests the market is pricing in a durable competitive advantage rather than mere commodity exposure. While the P/FCF of 39.24 appears elevated, this is likely a temporary distortion caused by recent working capital investments that should normalize as inventory turnover stabilizes.
According to recent financial statements, RS has maintained an ROIC of approximately 3.1% in 2026Q1, a figure that, while appearing modest in absolute terms, demonstrates resilience when compared to the broader industrial sector's performance during periods of significant inventory valuation adjustments and fluctuating metal price environments.
The company's ability to sustain positive returns on capital despite the inherent volatility of the steel distribution business suggests that its decentralized processing model effectively captures value-add premiums. Investors should monitor whether future investments in automated processing equipment can drive a structural improvement in these returns as the current cycle matures.
As reported in the company's quarterly filings, the cash conversion cycle has fluctuated between 93 and 112 days over the last ten quarters, reflecting the inherent difficulty of balancing inventory levels with the rapid, small-batch delivery requirements that define the company's high-touch service model for industrial customers.
The DSO of 39 days in 2026Q1 indicates strong collection efficiency, which is critical given the transactional nature of the business. However, the DIO of 68 days suggests that inventory remains the primary lever for operational efficiency, and any significant slowdown in turnover could signal a weakening in underlying industrial demand.
Based on the provided balance sheet data, RS maintains a debt-to-equity ratio of 0.28, a conservative posture that provides significant financial flexibility compared to industry peers and ensures that interest coverage remains robust even during periods of cyclical earnings pressure, as evidenced by the 23.89x coverage ratio.
This low leverage profile is a structural differentiator that allows the company to pursue opportunistic acquisitions without compromising its balance sheet integrity. The current debt-to-EBITDA ratio of 4.64 warrants monitoring, though it appears manageable given the company's historical ability to generate cash flow during downturns.
Market participants frequently misapply standard commodity-based P/E multiples to RS, failing to account for the fact that the company's earnings are driven by service-based value-add rather than raw metal price spreads, which often leads to an underestimation of the durability of its margins during cyclical troughs.
Analysts should prioritize the 'service spread' and LIFO-adjusted earnings over headline P/E ratios to accurately assess the company's true economic performance. Relying on raw commodity price correlation models obscures the company's ability to maintain pricing power through its decentralized, high-touch service network.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying RS stock.
Reliance Steel & Aluminum Co.'s current P/E ratio is 27.1x. The historical average is 13.7x. This places it at the 97th percentile of its historical range.
Reliance Steel & Aluminum Co.'s current EV/EBITDA is 16.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.1x.
Reliance Steel & Aluminum Co.'s return on equity (ROE) is 10.3%. The historical average is 13.9%.
Based on historical data, Reliance Steel & Aluminum Co. is trading at a P/E of 27.1x. This is at the 97th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Reliance Steel & Aluminum Co.'s current dividend yield is 1.27% with a payout ratio of 34.4%.
Reliance Steel & Aluminum Co. has 26.8% gross margin and 7.2% operating margin.
Reliance Steel & Aluminum Co.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.