RELIANCE, INC.

RS · Industrials · $20.4B mkt cap · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power51

Median gross margin 28.7% over 3y, very stable.

Returns on capital56

Median ROIC 11.4%, above the 9% hurdle in 80% of years.

Balance-sheet safety68

Net debt/EBITDA n/ax, interest coverage 18x.

Capital discipline85

Owner earnings +7.8%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

37% above value

Owner earnings (normalized): $1.3B
Est. intrinsic value / share: $286.91
Recent price: $394.34
Discount to value: 37% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell RS. See the disclaimer.