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Ryerson Holdings
(NYSE:RYZ)
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Rating:50Neutral
Price Target:
$23.50
▼(-4.43% Downside)
Action:Reiterated
Date:07/31/26
The score is held back most by weak financial performance—especially the TTM reversal to negative operating and free cash flow—and still-thin/negative profitability despite the revenue rebound. The latest earnings call is a meaningful positive, citing post-merger execution, EBITDA outperformance, and accelerating synergies with an expectation of moderating working capital needs. Technically, the stock’s near-term trend is soft (below key shorter moving averages), while valuation is mixed due to a moderate dividend but negative P/E tied to losses.
Positive Factors
Merger Synergies
Accelerating merger synergies indicate that integration is translating into measurable cost and commercial benefits. Exceeding the first-year target can strengthen margins, support debt reduction, and create a more efficient operating platform over the next several quarters.
Negative Factors
Negative Cash Generation
Recent cash burn is a material constraint because the business must fund inventory and operations without internally generated cash. Persistently negative operating and free cash flow could slow debt reduction and limit flexibility to invest or withstand weaker demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Merger Synergies
Accelerating merger synergies indicate that integration is translating into measurable cost and commercial benefits. Exceeding the first-year target can strengthen margins, support debt reduction, and create a more efficient operating platform over the next several quarters.
Read all positive factors
Ryerson Holdings (RYZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.37B
Dividend Yield2.85%
Average Volume (3M)429.47K
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth31.54%
EPS Growth-171.56%
CountryUS
Employees4,300
SectorIndustrials
Sector Strength72
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)-1.23
Shares Outstanding51,898,650
10 Day Avg. Volume395,281
30 Day Avg. Volume429,472
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.07
Price to Sales (P/S)0.18
P/FCF Ratio22.76
Enterprise Value/Market Cap1.89
Enterprise Value/Revenue0.44
Enterprise Value/Gross Profit2.56
Enterprise Value/Ebitda21.53
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.41
Revenue Forecast (FY)$7.29B
Ryerson Holdings Business Overview & Revenue Model
Company Description
Ryerson Holding Corporation, operating globally through its subsidiaries, specializes in the refinement and supply of industrial metal products across the United States and various international markets. The company's extensive inventory features ...
How the Company Makes Money
Ryerson makes money primarily by purchasing metal products from mills and other producers, holding inventory across its service-center network, and reselling those products to customers at prices that reflect (1) the cost of the metal, (2) the com...
Ryerson Holdings Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call highlights significant operational and commercial progress from the Ryerson–Olympic Steel combination: record revenue and shipments, adjusted EBITDA above guidance, meaningful synergy realization and acceleration, improved same-store metrics, expanding liquidity and falling leverage. These positive developments are tempered by near-term margin and working capital headwinds driven by purchase accounting adjustments, LIFO expense, logistics and commodity volatility, and program pricing lags. Management views many of the challenges as transitional and actionable, with additional synergies and operational steps expected to improve margins and cash flow over time.Positive Updates
Record Quarterly Revenue and Shipments
Net sales of $2.01 billion in Q2 2026 (record quarter), up 28.1% sequentially; total tons shipped just over 800,000, ton shift up 22.6% sequentially.
Negative Updates
Purchase Accounting and LIFO Pressures
A $15.7 million purchase accounting adjustment reduced gross margin and net income in Q2; Q2 LIFO expense of $17 million recorded and Q3 LIFO expense expected in range $16–$18 million.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue and Shipments
Net sales of $2.01 billion in Q2 2026 (record quarter), up 28.1% sequentially; total tons shipped just over 800,000, ton shift up 22.6% sequentially.
Read all positive updates
Company Guidance
For Q3 management expects volumes down 3–5% sequentially with average selling prices flat to up ~0–2%, revenue of $1.87–$1.95 billion, adjusted EBITDA excluding LIFO of $88–$92 million (with $21–$23 million contributed by Olympic Steel), LIFO expense of $16–$18 million, and reported net income (excluding inventory purchase accounting adjustments) of $19–$21 million or $0.37–$0.40 per diluted share; they also forecast ~$5–$7 million of additional inventory purchase accounting adjustments through year‑end, expect working capital needs to moderate (as stainless and aluminum prices retreat) supporting free cash flow and net debt reduction, and forecast realizing ~$13–$14 million of synergies in Q3 (driving a $52–$56 million annual run rate vs. a first‑year target of $40 million and a two‑year target of $120 million), of which ~ $6.5 million is expected from procurement, ~$3 million from efficiency/public company savings, ~$2 million from commercial enhancements (plus ~$8 million of annualized incremental EBITDA from new business) and ~$2 million from network optimization (~$8 million annualized), moving them closer to a ~3.0x net leverage ratio by year end.Ryerson Holdings Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
52
Neutral
Cash Flow
35
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.84B | 4.57B | 4.60B | 5.11B | 6.32B | 5.68B |
| Gross Profit | 1.01B | 767.70M | 817.60M | 1.00B | 1.31B | 1.19B |
| EBITDA | 120.30M | 47.30M | 113.20M | 290.90M | 616.20M | 494.00M |
| Net Income | -32.70M | -56.40M | -8.60M | 145.70M | 391.00M | 294.30M |
Balance Sheet | ||||||
| Total Assets | 3.84B | 2.57B | 2.60B | 2.57B | 2.33B | 2.37B |
| Cash, Cash Equivalents and Short-Term Investments | 43.30M | 27.80M | 29.30M | 55.40M | 40.50M | 52.40M |
| Total Debt | 1.33B | 1.15B | 1.19B | 1.16B | 841.50M | 1.06B |
| Total Liabilities | 2.54B | 1.80B | 1.77B | 1.66B | 1.44B | 1.82B |
| Stockholders Equity | 1.29B | 753.10M | 815.30M | 905.90M | 885.10M | 537.20M |
Cash Flow | ||||||
| Free Cash Flow | -151.80M | 35.50M | 105.30M | 243.20M | 396.10M | -24.30M |
| Operating Cash Flow | -89.70M | 87.00M | 204.90M | 365.10M | 501.20M | 35.00M |
| Investing Cash Flow | -325.10M | -53.60M | -142.70M | -262.10M | -160.00M | 94.40M |
| Financing Cash Flow | 425.00M | -36.50M | -86.80M | -88.30M | -350.10M | -137.90M |
Ryerson Holdings Technical Analysis
Positive
24.59
Price Trends
25.66
Positive
26.65
Positive
26.00
Positive
Market Momentum
0.32
Negative
60.78
Neutral
77.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYZ, the sentiment is Positive. The current price of 24.59 is below the 20-day moving average (MA) of 24.97, below the 50-day MA of 25.66, and below the 200-day MA of 26.00, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 60.78 is Neutral, neither overbought nor oversold. The STOCH value of 77.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RYZ.
Ryerson Holdings Risk Analysis
Ryerson Holdings disclosed 39 risk factors in its most recent earnings report. Ryerson Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ryerson Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $13.46B | 15.59 | 27.33% | 1.07% | 14.81% | 21.29% | |
76 Outperform | $3.09B | 18.64 | 16.19% | 1.23% | 18.44% | 54.40% | |
64 Neutral | $579.20M | 16.00 | 9.92% | 3.74% | 17.06% | 16.89% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
53 Neutral | $190.06M | -3.14 | -152.73% | 2.14% | 3.27% | -1069.57% | |
52 Neutral | $1.10B | -127.21 | -0.96% | ― | 14.47% | -220.54% | |
50 Neutral | $1.37B | -21.42 | -3.18% | 2.85% | 31.54% | -171.56% |
* Industrials Sector Average
RYZ
Ryerson Holdings
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4.53
20.31%
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WOR
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Ryerson Holdings Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Ryerson Holdings Reports Strong Q2 Results Post-Merger
Positive
Jul 29, 2026
On July 29, 2026, Ryerson reported second-quarter 2026 results that marked its first full period after the Olympic Steel merger and showed stronger operational performance. Revenue rose to $2.01 billion, with tons shipped up 22.6% and average sell...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.