Ryerson Holding Corporation
ir.ryerson.comWhat Do They Do?
Processes and distributes industrial metals, including steel and aluminum, and provides metal processing and fabrication services to manufacturers, fabricators, and machine shops.
10-K for FY2025, filed Feb 23, 2026We are one of the largest value-add processors and distributors of industrial metals in North America measured in terms of sales. As of…View ↗
We carry a full line of carbon steel, stainless steel, alloy steels, and aluminum, and a limited line of nickel and red metals. These…View ↗
Our customer base is diverse, numbering approximately 40,000, as of December 31, 2025, in a variety of industries, including commercial…View ↗
How Do They Make Money?
Customers buy metal products and processing; most invoices are issued when products are delivered, while custom products with no alternative use are charged as the work progresses.
10-K for FY2025, filed Feb 23, 2026The majority of our revenue is recognized at a point in time. The Company has determined that the most definitive demonstration that…View ↗
Revenues associated with products which we believe have no alternative use, and where the Company has an enforceable right to payment, are…View ↗
A receivable is recognized in the period in which an invoice is issued, which is generally when the product is delivered to the customer.…View ↗
$4.6B
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10-K for FY2025, filed Feb 23, 2026
$4.6B ↗
Who Are Their Customers?
Large original equipment manufacturers buy directly; smaller customers, including machine shops and fabricators, account for most sales. Ryerson sells through its own sales staff and e-commerce site.
10-K for FY2025, filed Feb 23, 2026
Do Revenues Turn Into Profits?
Not on paper. It lost $56.4M in FY2025, but brought in more cash than it spent: $35.5M of free cash flow.
10-K for FY2025, filed Feb 23, 2026
−$30.8MView ↗
10-K for FY2025, filed Feb 23, 2026
−$56.4MView ↗
10-K for FY2025, filed Feb 23, 2026
$35.5MView ↗
How Are They Changing?
Shrinking. Revenue fell 19% in 4 years, from $5.7B in FY2021 to $4.6B in FY2025, about 5% a year.
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