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Forensic Analysis · Durable-Goods Wholesale · as of Nov 9, 2026

Reliance, Inc. (RS)

A forensic read on Reliance, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
7.4
Distress distance
Clean
Earnings quality
2
Forensic signals
10.3%
ROE
3.3%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Reliance, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 7.4, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

8.5%
FY2025
Return on invested capital. Return on invested capital is 8.5% in the latest fiscal year and slipping across FY2023–FY2025 from 15.7%. After-tax operating profit was $1.3B in FY2023 and $775M in FY2025, with operating income at 11.7% of revenue in FY2023, 8.4% in FY2024 and 7.1% in FY2025. The capital base behind it went from $8.6B in FY2023 to $9.1B in FY2025 (+6%), while the revenue it carried went from $14.8B to $14.3B.
118% of FCF
FY2025
Shareholder returns. Returned $594M to shareholders (buybacks + dividends) in FY2025 — 118% of free cash flow, but 71% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $56M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 129%.

Key fundamentals

Latest Revenue$14.29B
Revenue Growth YoY+3.3%
Revenue CAGR (2yr)-1.7%
Net Margin5.2%
Free Cash Flow$502.5M
Return on Equity10.3%
Debt / Equity0.20x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.