# Reliance, Inc. (RS) — Stock CV

Reliance, Inc. is a $20.6B industrial company. Revenue grew 15.4% over the last year, it keeps 6¢ of every dollar of sales as profit, and its net debt equals ~2.2 years of free cash flow. It trades at 23.0× earnings — near the highest of its own history.

> Reliance Inc operates a network of companies providing diversified metal solutions and is the metals service center company. It distributes a full line of over 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and other specialty steel products.

## Identity

- **Ticker**: RS
- **Sector**: Industrials
- **Industry**: Wholesale-Metals Service Centers & Offices
- **Headquarters**: PHOENIX, AZ
- **Employees**: 15 700
- **Website**: https://www.reliance.com
- **Market cap**: $20.6B
- **Last price**: $402.50
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $15.8B
- **Net income**: $894M
- **Free cash flow**: $540M
- **Net debt**: $1.20B
- **P/E**: 23.0
- **Revenue growth (YoY)**: 15.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 50 |
| Growth | 51 |
| Profitability | 42 |
| Health | 62 |
| Quality | 80 |
| Moat | 43 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +15.4% YoY
- [x] Profitable — $894M TTM
- [ ] Profit growing — -22.4% YoY
- [x] Generates cash — $540M TTM
- [x] Debt under control — ~2.2y of cash flow to repay
- [x] Established company — $20.6B market cap
- [x] Not printing shares — -19.0% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 50/100
- [x] Pays a dividend — yield 1.25%
- [x] Valuation not extreme — P/E 23.0

## Experience (career milestones)

- **FY2022** — Became debt-free: cash now exceeds total debt
- **FY2022** — Best year on record: $1.84B net income
- **FY2018** — Revenue crossed $10B: $11.5B for the year
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $8.61B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2010** — Reliance entered the broadband services market with acquisition of Infotel Broadband Services Limited
- **2002** — –03, RIL purchased a majority stake in Indian Petrochemicals Corporation Ltd
- **2002** — Reliance announced India's biggest gas discovery (at the Krishna Godavari basin) in nearly three decades…
- **2001** — Reliance Industries Ltd. and Reliance Petroleum Ltd
- **2001** — –02, Reliance Petroleum was merged with Reliance Industries
- **1998** — Reliance took over Indian Petrochemicals Corporation Limited during privatization of public sector enterprises
- **1998** — /99, RIL introduced packaged LPG cylinders under the brand name Reliance Gas
- **1996** — It became the first private sector company in India to be rated by international credit rating agencies
- **1977** — The company held its initial public offering (IPO) in 1977
- **1973** — It became Reliance Textiles Industries Limited

## Strengths

- Revenue growing 15.4% year over year
- Interest covered 19.1× by operating earnings

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $14.1B | $1.41B | $563M |
| FY2022 | $17.0B | $1.84B | $1.78B |
| FY2023 | $14.8B | $1.34B | $1.20B |
| FY2024 | $13.8B | $875M | $999M |
| FY2025 | $14.3B | $739M | $503M |

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Source: https://stockcv.com/RS — derived from company filings; may be delayed or incomplete. Information, not investment advice.