Reliance Net Income vs Operating Income Analysis

RS Stock  USD 334.18  2.72  0.81%   
Reliance Steel financial indicator trend analysis is much more than just breaking down Reliance Steel Aluminum prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Reliance Steel Aluminum is a good investment. Please check the relationship between Reliance Steel Net Income and its Operating Income accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Reliance Steel Aluminum. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.

Net Income vs Operating Income

Net Income vs Operating Income Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Reliance Steel Aluminum Net Income account and Operating Income. At this time, the significance of the direction appears to have totally related.
The correlation between Reliance Steel's Net Income and Operating Income is 0.99. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Operating Income in the same time period over historical financial statements of Reliance Steel Aluminum, assuming nothing else is changed. The correlation between historical values of Reliance Steel's Net Income and Operating Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of Reliance Steel Aluminum are associated (or correlated) with its Operating Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Operating Income has no effect on the direction of Net Income i.e., Reliance Steel's Net Income and Operating Income go up and down completely randomly.

Correlation Coefficient

0.99
Relationship DirectionPositive 
Relationship StrengthVery Strong

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Reliance Steel Aluminum financial statement analysis. It represents the amount of money remaining after all of Reliance Steel Aluminum operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Operating Income

Operating Income is the amount of profit realized from Reliance Steel Aluminum operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of Reliance Steel Aluminum is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.
Most indicators from Reliance Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Reliance Steel Aluminum current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Reliance Steel Aluminum. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.
Enterprise Value Multiple is likely to gain to 8.55 in 2024, whereas Selling General Administrative is likely to drop slightly above 1.3 B in 2024.
 2021 2022 2023 2024 (projected)
Gross Profit4.5B5.3B4.3B4.5B
Total Revenue14.1B17.0B14.8B15.5B

Reliance Steel fundamental ratios Correlations

0.590.730.70.960.980.090.930.760.690.980.00.690.950.450.540.780.92-0.230.670.970.280.850.65-0.34-0.34
0.590.610.590.360.530.820.290.62-0.060.69-0.02-0.060.540.750.960.810.3-0.170.970.440.260.130.940.250.25
0.730.610.830.660.670.270.640.920.330.72-0.090.330.810.30.580.90.62-0.130.740.710.230.590.65-0.27-0.27
0.70.590.830.630.630.210.610.810.420.68-0.440.420.750.30.450.810.56-0.140.690.690.720.580.62-0.22-0.22
0.960.360.660.630.97-0.170.990.680.820.91-0.010.820.930.240.310.660.96-0.230.460.980.250.940.43-0.51-0.51
0.980.530.670.630.970.030.950.670.710.970.080.710.910.380.480.720.91-0.270.60.950.240.850.58-0.41-0.41
0.090.820.270.21-0.170.03-0.240.28-0.610.250.16-0.610.080.720.840.47-0.19-0.020.75-0.090.02-0.390.760.570.57
0.930.290.640.610.990.95-0.240.630.850.86-0.020.850.90.120.220.610.95-0.250.380.960.250.950.33-0.63-0.63
0.760.620.920.810.680.670.280.630.350.74-0.130.350.830.430.60.920.70.070.750.740.20.580.7-0.13-0.13
0.69-0.060.330.420.820.71-0.610.850.350.56-0.271.00.63-0.19-0.140.270.79-0.210.030.790.310.88-0.03-0.66-0.66
0.980.690.720.680.910.970.250.860.740.560.090.560.90.560.660.810.85-0.230.750.910.260.750.75-0.23-0.23
0.0-0.02-0.09-0.44-0.010.080.16-0.02-0.13-0.270.09-0.27-0.070.170.14-0.090.04-0.02-0.03-0.1-0.65-0.090.040.030.03
0.69-0.060.330.420.820.71-0.610.850.351.00.56-0.270.63-0.19-0.140.270.79-0.210.030.790.310.88-0.03-0.66-0.66
0.950.540.810.750.930.910.080.90.830.630.9-0.070.630.380.470.80.91-0.160.630.970.270.870.59-0.37-0.37
0.450.750.30.30.240.380.720.120.43-0.190.560.17-0.190.380.80.510.210.150.740.290.07-0.010.850.590.59
0.540.960.580.450.310.480.840.220.6-0.140.660.14-0.140.470.80.770.26-0.10.950.370.040.060.950.360.36
0.780.810.90.810.660.720.470.610.920.270.81-0.090.270.80.510.770.61-0.160.890.720.270.50.84-0.07-0.07
0.920.30.620.560.960.91-0.190.950.70.790.850.040.790.910.210.260.61-0.020.40.950.150.930.37-0.5-0.5
-0.23-0.17-0.13-0.14-0.23-0.27-0.02-0.250.07-0.21-0.23-0.02-0.21-0.160.15-0.1-0.16-0.02-0.13-0.21-0.2-0.25-0.090.220.22
0.670.970.740.690.460.60.750.380.750.030.75-0.030.030.630.740.950.890.4-0.130.530.270.240.970.220.22
0.970.440.710.690.980.95-0.090.960.740.790.91-0.10.790.970.290.370.720.95-0.210.530.290.930.49-0.45-0.45
0.280.260.230.720.250.240.020.250.20.310.26-0.650.310.270.070.040.270.15-0.20.270.290.260.23-0.11-0.11
0.850.130.590.580.940.85-0.390.950.580.880.75-0.090.880.87-0.010.060.50.93-0.250.240.930.260.2-0.61-0.61
0.650.940.650.620.430.580.760.330.7-0.030.750.04-0.030.590.850.950.840.37-0.090.970.490.230.20.360.36
-0.340.25-0.27-0.22-0.51-0.410.57-0.63-0.13-0.66-0.230.03-0.66-0.370.590.36-0.07-0.50.220.22-0.45-0.11-0.610.361.0
-0.340.25-0.27-0.22-0.51-0.410.57-0.63-0.13-0.66-0.230.03-0.66-0.370.590.36-0.07-0.50.220.22-0.45-0.11-0.610.361.0
Click cells to compare fundamentals

Reliance Steel Account Relationship Matchups

Reliance Steel fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets8.1B8.1B9.5B10.3B10.5B11.1B
Short Long Term Debt Total1.8B1.9B1.9B1.9B1.4B1.2B
Other Current Liab282.9M296.7M547.5M402.2M376.8M192.0M
Total Current Liabilities675.3M613M1.1B1.4B843.6M518.0M
Total Stockholder Equity5.2B5.1B6.1B7.1B7.7B8.1B
Property Plant And Equipment Net2.0B2.0B2.1B2.2B2.5B2.6B
Net Debt1.6B1.2B1.6B691.9M297.1M282.2M
Retained Earnings5.2B5.2B6.2B7.2B7.8B8.2B
Accounts Payable275M259.3M453.9M412.4M410.3M235.3M
Cash174.3M683.5M300.5M1.2B1.1B1.1B
Non Current Assets Total5.1B5.0B5.4B5.4B5.8B6.1B
Non Currrent Assets Other89.3M115.5M129.2M(349.8M)136.3M143.1M
Cash And Short Term Investments174.3M683.5M300.5M1.2B1.1B1.1B
Net Receivables1.1B928.4M1.7B1.6B1.5B1.6B
Common Stock Shares Outstanding67.9M65.3M64.3M61.5M59.0M70.5M
Liabilities And Stockholders Equity8.1B8.1B9.5B10.3B10.5B11.1B
Non Current Liabilities Total2.2B2.4B2.4B1.9B2.0B1.5B
Inventory1.6B1.4B2.1B2.0B2.0B1.0B
Other Current Assets85.2M80.5M111.6M115.6M140.4M147.4M
Total Liab2.9B3.0B3.4B3.2B2.8B2.0B
Total Current Assets3.0B3.1B4.2B4.9B4.8B5.0B
Short Term Debt117.4M57M63.6M560.7M56.5M82.6M
Property Plant And Equipment Gross2.0B2.0B3.8B4.3B4.7B5.0B
Accumulated Other Comprehensive Income(105.1M)(77.9M)(68.9M)(86.3M)(76.7M)(72.9M)
Intangible Assets1.0B947.1M1.1B1.0B981.1M779.2M
Common Stock Total Equity594.6M136.4M122.2M100K90K85.5K
Common Stock594.6M136.4M122.2M100K90K85.5K
Other Assets89.3M320M129.2M126.8M1.00.95
Long Term Debt1.5B1.6B1.6B1.1B1.1B1.3B
Good Will2.0B1.9B2.1B2.1B2.1B1.4B
Property Plant Equipment1.8B1.8B2.1B2.2B2.5B1.3B
Other Liab568.6M578.1M572.8M554.1M637.2M350.2M
Net Tangible Assets2.3B2.4B2.9B4.0B4.6B4.8B
Noncontrolling Interest In Consolidated Entity7.9M7.5M7.3M7.2M6.5M12.3M
Retained Earnings Total Equity4.6B5.2B5.2B6.2B7.1B4.3B
Long Term Debt Total1.5B1.6B1.6B1.1B1.3B1.8B
Deferred Long Term Liab440.1M469.3M455.6M484.8M436.3M413.8M

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When determining whether Reliance Steel Aluminum is a strong investment it is important to analyze Reliance Steel's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Reliance Steel's future performance. For an informed investment choice regarding Reliance Stock, refer to the following important reports:
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Reliance Steel Aluminum. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.
You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.

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When running Reliance Steel's price analysis, check to measure Reliance Steel's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Reliance Steel is operating at the current time. Most of Reliance Steel's value examination focuses on studying past and present price action to predict the probability of Reliance Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Reliance Steel's price. Additionally, you may evaluate how the addition of Reliance Steel to your portfolios can decrease your overall portfolio volatility.
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Is Reliance Steel's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Reliance Steel. If investors know Reliance will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Reliance Steel listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.20)
Dividend Share
4
Earnings Share
22.63
Revenue Per Share
253.839
Quarterly Revenue Growth
(0.08)
The market value of Reliance Steel Aluminum is measured differently than its book value, which is the value of Reliance that is recorded on the company's balance sheet. Investors also form their own opinion of Reliance Steel's value that differs from its market value or its book value, called intrinsic value, which is Reliance Steel's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Reliance Steel's market value can be influenced by many factors that don't directly affect Reliance Steel's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Reliance Steel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Reliance Steel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Reliance Steel's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.