<div id="readability-page-1"><div><p>Ryerson Holding (RYI) closed out FY 2025 with Q4 revenue of US$1.1 billion and a basic EPS loss of US$1.18, while trailing twelve month figures show revenue of US$4.6 billion and a basic EPS loss of US$1.76.</p> <p>Over recent quarters, the company has seen revenue move from US$1.01 billion in Q4 2024 to US$1.17 billion in Q2 2025, before landing at US$1.10 billion in Q4 2025. Basic EPS has ranged from a small profit of US$0.06 in Q2 2025 to losses such as US$0.46 in Q3 2025 and US$1.18 in Q4 2025, keeping the focus firmly on margins and the path back to more sustainable profitability.</p> <p>See our full analysis for Ryerson Holding.</p><p>With the numbers on the table, the next step is to see how this earnings profile lines up with the widely held narratives around Ryerson, and where those stories might need to be adjusted.</p> <p>Curious how numbers become stories that shape markets? Explore Community Narratives</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/735cef8b-a527-4240-ad72-d7d34a6dcc08/chart/revenue-and-expenses-breakdown/query-ZGF0ZT0yMDI2LTAyLTI1?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/735cef8b-a527-4240-ad72-d7d34a6dcc08/chart/revenue-and-expenses-breakdown/query-ZGF0ZT0yMDI2LTAyLTI1"/><figcaption>NYSE:RYI Revenue &amp; Expenses Breakdown as at Feb 2026</figcaption></figure> <h2>Losses Widen On US$56.4 Million TTM Net Loss</h2> <ul> <li>On a trailing twelve month basis, Ryerson recorded a net loss of US$56.4 million on US$4.6b of revenue, with individual quarterly net losses in FY 2025 that ranged from US$5.6 million in Q1 to US$37.9 million in Q4.</li> <li>What stands out for a bearish view is how the FY 2025 pattern backs concerns about sustained unprofitability, with three loss making quarters and just one small profit:     <ul> <li>Q2 2025 showed a modest net income of US$1.9 million and basic EPS of US$0.06, but this was surrounded by losses including a Q3 net loss of US$14.8 million and a Q4 net loss of US$37.9 million.</li> <li>The trailing twelve month basic EPS loss of US$1.76 is wider than the Q4 2024 trailing figure of US$0.26 loss.</li> </ul> </li> </ul> <h2>Revenue Scale Versus 30.6% Growth Forecast</h2> <ul> <li>Ryerson generated US$4.6b of revenue over the last twelve months, and forecasts reference revenue growth of about 30.6% per year based on the recent period, highlighting a contrast between strong sales expectations and current loss making results.</li> <li>Supporters of a more optimistic take often focus on that growth angle, yet the numbers show that higher sales have not translated into consistent profits so far:     <ul> <li>Quarterly revenue across FY 2025 stayed above US$1.1b each quarter, from US$1,135.7 million in Q1 up to US$1,169.3 million in Q2, alongside only one quarter of positive EPS.</li> <li>Even with this revenue base, the trailing twelve month net loss of US$56.4 million and basic EPS loss of US$1.76 indicate that margins and cost structure still matter at least as much as any future growth rate.</li> </ul> </li> </ul> <h2>Deep Discount On 0.3x P/S And DCF Gap</h2> <ul> <li>Ryerson is described as trading on a P/S of 0.3x compared with 2.8x for its industry and 0.8x for peers, and the share price of US$27.23 is said to be about 61.3% below a DCF fair value of US$70.38, which points to a wide valuation gap.</li> <li>Value minded investors might see this as an opportunity, but the same analysis also flags balance sheet and cash coverage issues that keep the bearish case in focus:     <ul> <li>Debt is reported as not well covered by operating cash flow and the 2.75% dividend is not well covered by either earnings or free cash flow, which can limit flexibility if earnings stay weak.</li> <li>Substantial shareholder dilution over the past year means that even if valuation multiples look low, existing holders have already been spread over a larger share count to support the capital structure.</li> </ul> </li> </ul> <p>Curious how numbers like a 0.3x P/S and a DCF fair value of US$70.38 shape investor stories around Ryerson, and how other retail investors are interpreting this mix of losses and low multiples? <strong>📊 Read the what the Community is saying about Ryerson Holding.</strong></p> <h2>Next Steps</h2> <p>Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Ryerson Holding's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.</p> <p>Reading this, you can see there are clear concerns alongside some potential positives. It is worth acting now to look through the full picture yourself, starting with the 3 key rewards and 4 important warning signs.</p> <h2>See What Else Is Out There</h2> <p>Ryerson is dealing with widening losses, uneven profitability and pressure on its balance sheet and dividend coverage, despite sizeable revenue and a low P/S multiple.</p> <p>If that combination of losses, debt coverage concerns and dividend pressure feels uncomfortable, check out our solid balance sheet and fundamentals stocks screener (40 results) to quickly focus on companies with stronger financial footing.</p> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><h3><strong>New: </strong>AI Stock Screener &amp; Alerts</h3><p>Our new AI Stock Screener scans the market every day to uncover opportunities.</p><div><p>• Dividend Powerhouses (3%+ Yield)<br/>• Undervalued Small Caps with Insider Buying<br/>• High growth Tech and AI Companies</p><p>Or build your own from over 50 metrics.</p></div><p>Explore Now for Free</p></div></div></div>

<p>Ryerson Holding (RYI) reported a Q4 revenue of US$1.1 billion and a basic EPS loss of US$1.18, contributing to a trailing twelve month net loss of US$56.4 million. Despite a revenue growth forecast of 30.6%, the company has struggled with profitability, recording only one profitable quarter in FY 2025. Ryerson's shares trade at a low P/S of 0.3x, significantly below industry averages, raising concerns about its balance sheet and dividend coverage. Investors are advised to consider the long-term trends and potential risks before making decisions.</p>

Ryerson Holding Q4 Loss Of US$1.18 EPS Reinforces Bearish Profitability Narratives