Ryerson Holding Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Ryerson Holding Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,860	3,365	4,408	4,502	3,467	5,675	6,324	5,109	4,599	4,571
Cost of revenue	2,289	2,782	3,650	3,674	2,846	4,529	5,014	4,087	3,765	3,789
Gross profit	571	583	758	828	621	1,147	1,310	1,022	834	782
Selling, general and administrative	448	481	615	637	554	711	735	794	801	810
Operating income	122	101	139	211	64.6	545	579	228	31.5	-30.8
Interest expense	89.9	91	99.2	93.2	76.4	51	33.2	34.7	43	38.9
Other non-operating income	-6.1	6.6	8.6	-0.6	5.3	-0.9	-1.3	0.3	4.1	-1.5
Pre-tax income	26.1	16.7	117	115	-90.1	389	523	194	-7.4	-71.2
Income tax	7.2	-1.3	10.3	32.5	-24.8	93.7	131	47.3	-0.1	-16.1
Net income to minority interests	0.2	0.9	0.4	0.3	0.5	1.1	0.5	0.7	1.3	1.3
Net income	18.7	17.1	106	82.4	-65.8	294	391	146	-8.6	-56.4
EBITDA	165	148	192	269	119	601	638	291	109	48.9
EPS, basic	0.55	0.46	2.84	2.19	-1.73	7.67	10.41	4.17	-0.26	-1.76
EPS, diluted	0.54	0.46	2.81	2.17	-1.73	7.56	10.21	4.10	-0.26	-1.76
Shares, basic (weighted)	34.3	37.2	37.3	37.7	38	38.4	37.6	35	33.2	32.1
Shares, diluted (weighted)	34.4	37.3	37.7	38	38	38.9	38.3	35.6	33.2	32.1
Dividend per share						0.17	0.54	0.72	0.75	0.75

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	80.7	77.4	23.2	11	61.4	51.2	39.2	54.3	27.7	26.9
Receivables	326	376	521	425	379	631	514	468	426	461
Inventory	563	617	806	743	605	832	799	783	685	648
Other current assets	26.7	32.6	61.5	52.2	57.5	77.7	88.2	77.8	68.1	85.9
Total current assets	998	1,104	1,413	1,280	1,103	1,593	1,442	1,383	1,208	1,223
Property, plant and equipment	388	423	489	440	422	388	458	590	637	610
Lease right-of-use assets				128	108	211	241	349	345	324
Goodwill	103	115	120	120	120	124	129	158	162	162
Intangible assets	40.8	46.9	58.1	50.6	43.2	42.2	50.9	73.7	68.3	58.2
Other non-current assets			63.9
Total assets	1,559	1,712	2,086	2,022	1,802	2,366	2,334	2,570	2,440	2,405
Accounts payable	230	275	390	312	365	481	438	463	441	516
Accrued liabilities	36.8	40.3	66.6
Short-term debt	19.2	21.3	27.3	49.2	13.8	28.8	5.8	8.2	0.7	1.9
Total current liabilities	332	403	569	492	528	751	619	634	580	668
Long-term debt	944	1,024	1,126	933	726	611
Lease liabilities				113	93	185	215	337	335	319
Other non-current liabilities	32.5	48.7	43.7	22.9	20.4	17.3	14.3	13.9	13.7	12.8
Total liabilities	1,608	1,719	2,010	1,843	1,657	1,821	1,441	1,655	1,615	1,641
Total debt	964	1,046	1,153	982	740	639	5.8	8.2	0.7	1.9
Paid-in capital	375	378	381	381	383	389	398	412	424	433
Retained earnings	-112	-95.1	14.2	99.6	33.8	322	693	813	780	699
Treasury stock	-6.6	-6.6	-6.6	-6.6	-6.6	-8.4	-61.1	-179	-234	-237
Other comprehensive income	-308	-286	-316	-302	-47	-165	-144	-140	-154	-142
Shareholders' equity	-50.8	-10	73.2	173	139	537	885	906	815	753
Minority interests	1.5	2.6	2.7	6	6.3	7.4	7.9	8.6	9.2	10.5
Total equity	-49.3	-7.4	75.9	179	145	545	893	915	825	764
Total liabilities and equity	1,559	1,712	2,086	2,022	1,802	2,366	2,334	2,570	2,440	2,405

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	18.9	18	106	82.7	-65.3	295	392	146	-7.3	-55.1
Depreciation and amortization	42.5	47.1	52.9	58.4	53.9	55.9	59	62.5	77.6	79.7
Stock-based compensation	1.4	2.2	3.3	3.1	1.9	5.5	9.1	13.8	11.6	8.7
Deferred income tax	4.7	-9.2	7.8	48	-16.6	0.6	7.4	16.8	-9.8	-20.3
Change in receivables	-22.5	-44	-64.8	92.5	46.7	-253	127	67.9	40	-35
Change in inventory	-6.5	-42.9	-21.4	65.9	139	-228	39.9	28.8	120	39.5
Change in payables	20.4	58.1	58.4	-78.2	25.8	124	-72.1	24.8	-5.6	77.9
Cash from operations	24.8	-2.5	57.4	193	278	35	501	365	205	87
Capital expenditures	-23	-25.1	-38.4	-45.8	-26	-59.3	-105	-122	-99.6	-51.5
Acquisitions	-1.1	-49.2	-170			-14.5	-57	-138	-44.1	0
Cash from investing	-19.8	-70.3	-200	26.4	-25.9	94.4	-160	-262	-143	-53.6
Debt issued	650				500
Debt repaid	-739	-0.2	-52.4	-12.7	-655	-157	-321	-1.7	-2.2	0
Stock issued	71.5								0.1	0.1
Share buybacks						-1.8	-50	-114	-51	0
Dividends paid						-6.4	-19.9	-24.8	-24.8	-24.1
Cash from financing	11.4	65.7	92.9	-184	-250	-138	-350	-88.3	-86.8	-36.5
Exchange rate effect	0.9	3.9
Net change in cash	17.3	-3.2	-54.2	35.5	2.7	-10.1	-11.9	14.9	-26.1	-1.5
Free cash flow	1.8	-27.6	19	147	252	-24.3	396	243	105	35.5
Interest paid	89.2	84.9	92.8	88.3	62	51.1	38.3	29.9	40.6	41.2
Income taxes paid	1.8	1.7	2.1	-6.6	-5.7	70.2	177	6.2	10.3	5.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $23.85 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	17.3%	Gross profit / revenue.
Operating margin	0.3%	Operating income / revenue.
EBITDA margin	2.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.4%	Pre-tax income / revenue.
Net margin	-0.6%	Net income / revenue.
FCF margin	-2.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-1.2%	Cash from operations / revenue.
Return on equity (ROE)	-2.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.9%	Net income / average total assets.
Return on invested capital (ROIC)	1.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	16.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.1%	Capital expenditures / revenue.
D&A / revenue	1.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-10.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-6.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-15.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	4.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-197.8%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-55.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-57.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-16.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-57.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-44.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-20.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-66.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-55.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-32.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	11.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-7.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-5.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	40.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.21x	Current assets / current liabilities.
Quick ratio	0.94x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.04x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.1%	Total debt / total assets.
Liabilities / assets	66.2%	Total liabilities / total assets.
Net debt	-$39.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.34x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.41x	Operating income / interest expense.
Working capital	$1.24B	Current assets - current liabilities.
Goodwill and intangibles / assets	6.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.04B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.52x	Revenue / average total assets.
Fixed asset turnover	6.33x	Revenue / average property, plant and equipment.
Inventory turnover	4.04x	Cost of revenue / average inventory.
Days inventory	90 days	365 x average inventory / cost of revenue.
Receivables turnover	6.30x	Revenue / average receivables.
Days sales outstanding	58 days	365 x average receivables / revenue.
Days payables	60 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	89 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.62	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$111.00	Revenue / diluted weighted shares.
FCF per share	-$2.48	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$1.30	Cash from operations / diluted weighted shares.
Book value per share	$24.49	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.81	Tangible book value / shares outstanding.
Cash per share	$0.80	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.24B	Share price x shares outstanding.
Enterprise value	$1.20B	Market cap + total debt - cash - short-term investments.
P/S	0.21x	Market cap / revenue.
P/B	0.96x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.19x	Market cap / tangible book value, when positive.
EV/Sales	0.21x	Enterprise value / revenue.
EV/EBIT	64.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.4x	Enterprise value / EBITDA, when both are positive.
FCF yield	-10.5%	Free cash flow / market cap.
Earnings yield	-2.6%	Net income / market cap (the inverse of P/E).
Dividend yield	2.5%	Dividends paid over the period / market cap.
Shareholder yield	2.5%	(Dividends paid + share buybacks) / market cap.

What was Ryerson Holding Corp's revenue in fiscal 2025?

Ryerson Holding Corp reported revenue of $4.57B for fiscal 2025, 0.6% lower than the year before.

Was Ryerson Holding Corp profitable in fiscal 2025?

No. It reported a net loss of $56.4M.

How much free cash flow did Ryerson Holding Corp generate in fiscal 2025?

Cash from operations of $87.0M minus capital expenditures of $51.5M left free cash flow of $35.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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