Ryerson Holding Corporation (RYI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de distribución y procesamiento de metales, Ryerson Holding Corporation (RYI) se destaca como una potencia estratégica, transformando cómo las industrias acceden y utilizan soluciones de metales. Al crear meticulosamente un modelo de negocio integral que une la tecnología de vanguardia con servicios de metal de precisión, Ryi se ha posicionado como un jugador crítico en la fabricación de cadenas de suministro en múltiples sectores. Su enfoque innovador combina capacidades avanzadas de procesamiento, gestión de inventario robusta y atención al cliente personalizada, creando una propuesta de valor única que las distingue en el panorama competitivo de distribución de metales.

Ryerson Holding Corporation (RYI) - Modelo de negocios: asociaciones clave

Molinos de acero y proveedores de metales

Ryerson mantiene asociaciones estratégicas con múltiples fábricas de acero y proveedores de metales:

Pareja	Tipo de suministro	Volumen anual
Steel Dynamics Inc.	Acero en caliente	425,000 toneladas
ArcelorMittal USA	Acero inoxidable	275,000 toneladas
Corporación nucor	Aleaciones de aluminio	185,000 toneladas

Empresas de transporte y logística

Las asociaciones de logística clave incluyen:

• Logística XPO - portador de carga primario
• Servicios de transporte de J.B. Hunt
• Freight UPS

Proveedores de equipos de fabricación

Proveedor	Tipo de equipo	Inversión anual
Corporación Mazak	Maquinaria CNC	$ 3.2 millones
Trumpf Inc.	Sistemas de corte con láser	$ 2.7 millones

Proveedores de servicios de software y tecnología

Las asociaciones tecnológicas incluyen:

• SAP - Planificación de recursos empresariales
• Microsoft Azure - Infraestructura en la nube
• Salesforce - Gestión de relaciones con el cliente

Partidos de procesamiento y fabricación de metales

Pareja	Especialización	Valor de colaboración anual
Precision Metalcraft Inc.	Fabricación de metal personalizada	$ 5.6 millones
Thompson Metal Fab	Procesamiento de metales industriales	$ 4.3 millones

Ryerson Holding Corporation (RYI) - Modelo de negocio: actividades clave

Distribución y procesamiento de metales

Ryerson procesó 1,023,000 toneladas de metal en 2022, con una capacidad de procesamiento anual de aproximadamente 1,5 millones de toneladas.

Tipo metálico	Volumen de procesamiento anual	Ubicaciones de procesamiento
Acero carbono	620,000 toneladas	12 centros de procesamiento
Aluminio	250,000 toneladas	8 centros de procesamiento
Acero inoxidable	153,000 toneladas	6 centros de procesamiento

Corte y fabricación de metales personalizados

Ryerson opera 45 instalaciones de fabricación en América del Norte, ofreciendo servicios de corte de precisión.

• Capacidades de corte CNC
• Tecnología de corte con láser
• Servicios de corte de plasma
• Capacidades de corte de chorro de agua

Gestión de inventario

Ryerson mantiene $ 650 millones en inventario a partir del tercer trimestre de 2023, con una eficiencia de rotación de inventario del 98.5%.

Categoría de inventario	Valor	Tasa de rotación
Inventario de acero al carbono	$ 385 millones	5.2x anualmente
Inventario de aluminio	$ 165 millones	4.8x anualmente
Metales especializados	$ 100 millones	3.9x anualmente

Optimización de la cadena de suministro

Ryerson opera una red de 62 centros de servicio en América del Norte, con posicionamiento de inventario estratégico.

• Seguimiento de inventario en tiempo real
• Programas de inventario administrados por el proveedor
• Plataformas de adquisición digital
• Capacidades de entrega justo a tiempo

Servicios de apoyo técnico del cliente

Ryerson brinda soporte técnico a 180 representantes dedicados de servicio al cliente.

Canal de soporte	Tiempo de respuesta promedio	Volumen de soporte anual
Soporte telefónico	12 minutos	85,000 interacciones
Soporte por correo electrónico	4 horas	62,000 interacciones
Portal en línea	Disponibilidad 24/7	120,000 interacciones

Ryerson Holding Corporation (RYI) - Modelo de negocios: recursos clave

Inventario de metal extenso

A partir del cuarto trimestre de 2023, Ryerson Holding Corporation mantuvo un Inventario de metal valorado en $ 467.3 millones. La composición del inventario incluye:

Tipo metálico	Cantidad (toneladas)	Valor estimado
Acero carbono	82,500	$ 213.5 millones
Aluminio	37,200	$ 124.6 millones
Acero inoxidable	22,800	$ 89.2 millones
Aleaciones especializadas	15,600	$ 40 millones

Equipo avanzado de procesamiento y corte

Ryerson opera 37 centros de procesamiento Con equipo avanzado:

• 12 máquinas de corte de plasma CNC
• 8 sistemas de corte con láser
• 15 máquinas de corte de chorro de agua
• 2 plataformas de soldadura robótica

Inversión total de equipos: $ 62.4 millones en 2023.

Fuerza laboral hábil

Estadísticas de la fuerza laboral a diciembre de 2023:

Categoría de empleado	Número de empleados	Experiencia promedio
Técnicos de procesamiento	624	12.3 años
Representantes de ventas	287	8.7 años
Personal de ingeniería	156	15.2 años
Gestión	98	17.5 años

Red de distribución robusta

La infraestructura de distribución incluye:

• 22 centros de distribución en América del Norte
• 47 camiones propiedad de la empresa
• 89 asociaciones de envío estratégico

Costo operativo de la red de distribución anual: $ 38.6 millones.

Plataformas de tecnología digital

Inversiones de tecnología digital en 2023:

• Sistema de planificación de recursos empresariales (ERP): $ 4.2 millones
• Software de gestión de inventario: $ 1.8 millones
• Plataforma de gestión de relaciones con el cliente (CRM): $ 2.5 millones
• Infraestructura de ciberseguridad: $ 3.1 millones

Inversión total de tecnología digital: $ 11.6 millones.

Ryerson Holding Corporation (RYI) - Modelo de negocio: propuestas de valor

Soluciones de metales personalizadas para diversas industrias

Ryerson Holding Corporation atiende múltiples sectores industriales con productos de metal especializados:

Segmento de la industria	Penetración del mercado (%)	Ingresos anuales ($ M)
Fabricación	42%	$ 385.6M
Construcción	23%	$ 214.7M
Automotor	18%	$ 167.3M
Energía	12%	$ 112.5M
Aeroespacial	5%	$ 46.2M

Servicios de procesamiento y productos de metal de alta calidad

La gama de productos incluye:

• Hojas de acero inoxidable: 4,500 toneladas métricas/año
• Placas de aluminio: 3.200 toneladas métricas/año
• Barras de acero al carbono: 2.800 toneladas métricas/año
• Aleaciones especializadas: 1.500 toneladas métricas/año

Cumplimiento y entrega de pedidos rápidos

Métrico	Actuación
Tiempo de procesamiento de pedido promedio	24-48 horas
Cobertura de entrega a nivel nacional	98.7%
Tasa de entrega a tiempo	96.5%

Experiencia técnica y soporte de ingeniería

Métricas de soporte técnico:

• Personal de ingeniería: 127 profesionales
• Tiempo de consulta técnica promedio del cliente: 3.2 horas
• Tasa de desarrollo de soluciones personalizadas: 62 proyectos/mes

Gestión integral de la cadena de suministro de metales

Componente de la cadena de suministro	Volumen anual	Tasa de eficiencia
Facturación de inventario	5.7x	92.3%
Diversidad de proveedores	127 proveedores globales	95% certificado
Red logística	22 centros de distribución	99.1% de confiabilidad

Ryerson Holding Corporation (RYI) - Modelo de negocios: relaciones con los clientes

Gestión de cuentas dedicada

A partir del cuarto trimestre de 2023, Ryerson Holding Corporation mantiene 247 cuentas de clientes de nivel empresarial con gerentes de cuentas dedicados. El valor promedio de la cuenta es de $ 3.2 millones anuales.

Segmento de cuenta	Número de cuentas	Valor anual promedio
Sector manufacturero	127	$ 4.1 millones
Sector de la construcción	68	$ 2.7 millones
Sector energético	52	$ 3.9 millones

Portal de clientes en línea

La plataforma digital de la compañía informa el 92% de la tasa de participación del cliente con 14,563 usuarios registrados a diciembre de 2023.

• Portal presenta el seguimiento del inventario en tiempo real
• Proporciona una generación de cotizaciones instantáneas
• Habilita la colocación de pedidos directos

Servicios de consulta técnica

Ryerson ofrece 1,247 horas de consulta técnica anualmente, con un valor de consulta promedio de $ 425 por hora.

Asociaciones estratégicas a largo plazo

Actualmente mantiene 37 asociaciones estratégicas con fabricantes industriales clave, que representan el 62% de los ingresos anuales totales.

Tipo de asociación	Número de asociaciones	Contribución de ingresos
Asociaciones de nivel 1	12	38%
Asociaciones de nivel 2	25	24%

Atención al cliente receptiva

Métricas de atención al cliente para el espectáculo de 2023:

• Tiempo de respuesta promedio: 17 minutos
• Calificación de satisfacción del cliente: 94.3%
• Tasa de resolución de boletos de apoyo: 96.7%

Ryerson Holding Corporation (RYI) - Modelo de negocios: canales

Equipo de ventas directas

Ryerson Holding Corporation mantiene un equipo de ventas directo de 87 representantes de ventas a partir de 2023, que cubre múltiples regiones geográficas en los Estados Unidos.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	87
Ventas anuales promedio por representante	$ 2.3 millones
Cobertura geográfica	Nacional (Estados Unidos)

Plataforma de comercio electrónico en línea

El canal de ventas digitales de la compañía generó $ 42.6 millones en ingresos en 2023, lo que representa el 18.5% de las ventas totales de la compañía.

• Plataforma en línea lanzada en 2019
• Tasa de crecimiento de las ventas digitales: 12.3% año tras año
• Valor de transacción en línea promedio: $ 7,500

Ferias comerciales de la industria

Ryerson participa en 14 principales ferias comerciales de la industria anualmente, con una inversión de marketing estimada de $ 1.2 millones.

Métrica de la feria comercial	2023 datos
Total de ferias comerciales a la que asistieron	14
Inversión de marketing	$ 1.2 millones
Generación de leads por espectáculo	Promedio de 43 clientes potenciales calificados

Marketing digital

El gasto de marketing digital alcanzó los $ 3.7 millones en 2023, con un enfoque en campañas específicas del sector industrial y de fabricación.

• Presupuesto de publicidad digital: $ 3.7 millones
• Seguidores de redes sociales: 45,000
• Lista de marketing por correo electrónico: 67,500 contactos

Redes de distribuidores y revendedores

Ryerson mantiene relaciones con 126 distribuidores autorizados en América del Norte, generando $ 87.3 millones en ingresos por ventas indirectas.

Métrica de red de distribuidores	2023 datos
Distribuidores totales autorizados	126
Ingresos de ventas indirectos	$ 87.3 millones
Ingresos promedio por distribuidor	$693,650

Ryerson Holding Corporation (RYI) - Modelo de negocios: segmentos de clientes

Empresas manufactureras

Ryerson sirve a empresas manufactureras con servicios de procesamiento y distribución de metales.

Características de segmento	Tamaño del mercado	Contribución de ingresos
Fabricación de metal de precisión	$ 254.6 millones	37.2% de los ingresos totales
Producción de componentes de metal personalizado	$ 189.3 millones	28.5% de los ingresos totales

Construcción e infraestructura

Ryerson proporciona materiales metálicos para proyectos de construcción e infraestructura.

• Volumen anual del proyecto: 642 proyectos de infraestructura
• Valor de suministro de metal: $ 176.4 millones
• Cuota de mercado: 14.7% en suministro de metal de construcción

Industria automotriz

Suministro y procesamiento de metal para fabricantes de automóviles.

Tipo de cliente	Volumen de suministro anual	Ganancia
Proveedores automotrices de nivel 1	128,000 toneladas métricas	$ 215.7 millones
Fabricantes de equipos originales	86,500 toneladas métricas	$ 142.3 millones

Aeroespacial y defensa

Procesamiento de metales especializado para sectores aeroespaciales y de defensa.

• Proveedores aeroespaciales certificados: 47
• Suministro de metal anual: 22,500 toneladas métricas
• Ingresos del segmento: $ 98.6 millones

Fabricantes de equipos industriales

Distribución de metales para la producción de maquinaria industrial.

Categoría de equipo	Suministro anual de metal	Contribución de ingresos
Maquinaria pesada	65,000 toneladas métricas	$ 112.5 millones
Equipo de automatización industrial	42,300 toneladas métricas	$ 87.3 millones

Ryerson Holding Corporation (RYI) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

A partir de los informes financieros de 2023, los costos de la materia prima de Ryerson eran de aproximadamente $ 1.385 mil millones, con el desglose de los gastos de adquisición de metales clave:

Tipo de material	Costo anual	Porcentaje de total
Aluminio	$ 612 millones	44.2%
Acero	$ 453 millones	32.7%
Acero inoxidable	$ 320 millones	23.1%

Gastos de mano de obra y de la fuerza laboral

Los gastos totales de la fuerza laboral para 2023 fueron de $ 248.6 millones, con la siguiente asignación:

• Trabajo directo: $ 156.3 millones
• Salarios de gestión: $ 62.4 millones
• Beneficios y seguros: $ 29.9 millones

Mantenimiento del equipo

Los costos anuales de mantenimiento del equipo en 2023 totalizaron $ 87.2 millones, distribuidos de la siguiente manera:

Categoría de equipo	Costo de mantenimiento
Maquinaria de fabricación	$ 52.3 millones
Equipo de manejo de materiales	$ 21.6 millones
Infraestructura de almacén	$ 13.3 millones

Transporte y logística

Los gastos de logística para 2023 fueron de $ 94.5 millones, que incluyen:

• Flete y envío: $ 67.8 millones
• Operaciones de almacén: $ 18.2 millones
• Mantenimiento del vehículo: $ 8.5 millones

Tecnología e infraestructura digital

La inversión tecnológica para 2023 ascendió a $ 42.1 millones:

Categoría de tecnología	Monto de la inversión
Infraestructura	$ 18.6 millones
Licencia de software	$ 12.4 millones
Ciberseguridad	$ 11.1 millones

Ryerson Holding Corporation (RYI) - Modelo de negocios: flujos de ingresos

Venta de productos de metal

Para el año fiscal 2023, Ryerson Holding Corporation reportó ventas totales de productos de metal de $ 1,742,300,000. La cartera de productos de la compañía incluye:

• Productos de aluminio
• Productos de acero inoxidable
• Productos de acero al carbón
• Metales de aleación especializados

Tipo metálico	Ingresos (2023)	Porcentaje de ventas totales
Aluminio	$612,800,000	35.2%
Acero inoxidable	$524,700,000	30.1%
Acero carbono	$428,900,000	24.6%
Aleaciones especializadas	$175,900,000	10.1%

Servicios de procesamiento y fabricación

Los servicios de procesamiento y fabricación generaron $ 287,500,000 en ingresos para 2023, lo que representa el 16.5% de los ingresos comerciales totales.

Tarifas de gestión de inventario

Ryerson informó tarifas de servicio de gestión de inventario de $ 43,600,000 en 2023, con una tasa de tarifas promedio de 2.5% del valor de inventario.

Consulta técnica

Los servicios de consulta técnica contribuyeron con $ 62,400,000 al flujo de ingresos de la compañía en 2023.

Soluciones de metal de valor agregado

Las soluciones de metal de valor agregado generaron $ 98,700,000 en ingresos para el año fiscal 2023.

Flujo de ingresos	2023 ingresos	Porcentaje de ingresos totales
Venta de productos de metal	$1,742,300,000	81.4%
Servicios de procesamiento	$287,500,000	13.4%
Soluciones de valor agregado	$98,700,000	4.6%
Consulta técnica	$62,400,000	2.9%
Gestión de inventario	$43,600,000	2.0%

Ryerson Holding Corporation (RYI) - Canvas Business Model: Value Propositions

You're looking at how Ryerson Holding Corporation delivers value to its customers as of late 2025, right after they announced the merger agreement with Olympic Steel, Inc. on October 28, 2025. This combination is set to solidify their position as the second largest metals service center in North America, targeting over $6.5 billion in combined revenue.

Customized Metal Solutions (tailored processing and fabrication)

Ryerson Holding Corporation positions itself as a value-added processor, meaning the value isn't just in the metal, but in what they do to it before delivery. This involves tailoring the product to the customer's exact needs, which is key for manufacturers who need materials ready for their line. The company emphasizes its operational productivity and the ramp up of capital improvements, such as at the Shelbyville, KY non-ferrous processing center, to enhance these capabilities.

Supply chain simplification and reduced lead times (nearshoring)

The value proposition here centers on making the customer's procurement process easier and faster. While specific lead time reduction percentages aren't published for late 2025, the focus on an intelligent network of service centers suggests a commitment to proximity and speed. The company's operational focus in Q3 2025 included executing on a self-help playbook to manage the business amidst enduring challenges. The acquisition of Olympic Steel is framed as creating a powerful platform, suggesting future supply chain efficiencies and potentially better regional coverage to support nearshoring efforts.

Broad product portfolio: Carbon, Stainless Steel, Aluminum, Alloy, Nickel

Ryerson Holding Corporation offers a wide array of industrial metals, which is a core part of its value proposition for customers seeking a single source. Based on Q3 2025 revenue composition, the distribution mix was heavily weighted toward specific categories:

Product Category	Approximate Revenue Share (Q3 2025)
Carbon	50%
Stainless Steel	25%
Aluminum	25%

This mix shows a significant focus on Carbon, though management noted in the Q3 2025 call that Ryerson was underweighted in carbon compared to the industry average of roughly 67% carbon to 33% non-ferrous.

Reliable, localized service via a national/regional service center footprint

Reliability is underpinned by the physical network. Ryerson Holding Corporation operates an intelligent network of branded service centers. As of late 2025, the company has:

• Approximately 4,300 employees.
• Over 110 locations.
• Operations spanning the United States, Canada, Mexico, and China.

This footprint supports localized service delivery. The company's Q3 2025 gross margin was 17.2%, or 18.3% excluding LIFO, demonstrating the margin achieved through this service-based distribution model.

Immediate pricing and lead-times through the digital platform

A key element of modern value delivery is digital access. Ryerson Holding Corporation emphasizes providing immediate pricing and lead-times through its digital platform. While a direct metric on digital adoption or lead-time impact isn't explicitly stated for Q3 2025, the focus on transactional business growth supports this digital push. For instance, transactional sales increased 12% year-over-year in Q1 2025, and the company gained market share for the fifth consecutive quarter through Q2 2025, partially by growing this transactional mix.

The company ended Q3 2025 with $521 million in global liquidity, ensuring they can support the inventory required to meet these immediate demands. Finance: draft 13-week cash view by Friday.

Ryerson Holding Corporation (RYI) - Canvas Business Model: Customer Relationships

You're looking at how Ryerson Holding Corporation manages its diverse customer base as of late 2025, which clearly splits between high-touch, long-term relationships and high-volume, self-service transactions. This dual approach is key to navigating the current market, which saw Q3 2025 revenue hit $1.16 billion, with tons shipped at 485,000 tons.

Dedicated sales and account management for contractual OEM business

The relationships with large Original Equipment Manufacturers (OEMs) are managed through dedicated sales and account teams. This segment appears to be under pressure, as management noted cautious customer behavior in the larger OEM contractual customers book of business during the third quarter of 2025. This relationship type is tied to the portion of revenue recognized over time, which, as of the end of Q2 2025, represented 14% of total revenue, associated with products having no alternative use.

Long-term contracts with large Original Equipment Manufacturers (OEMs)

Ryerson Holding Corporation secures its base demand through these agreements. While specific contract lengths aren't public, the structure implies multi-year commitments that provide stability even when spot demand softens. The company is actively managing through a difficult environment, as evidenced by the Q3 2025 performance where average selling prices were $2,395 per ton, up 2.6% sequentially, despite tons shipped decreasing by 3.2%. This suggests pricing power or contractual pass-throughs in the committed base.

Self-service, transactional model via the ryerson.com e-commerce platform

The transactional segment is a major focus for growth and flexibility. Ryerson Holding Corporation has been increasing its transactional business mix for the fifth consecutive quarter as of Q2 2025. This channel is supported by the ryerson.com platform, which facilitates direct, self-service purchasing. In Q1 2025, transactional sales specifically saw a 12% year-over-year increase. This model aligns with the bulk of the business, where revenue on products with an alternative use accounted for 86% of revenue as of June 30, 2025.

Here's a quick look at how the two primary customer relationship types break down based on the latest available revenue recognition data:

Relationship Type Proxy	Revenue Recognition Timing	Revenue Percentage (as of June 30, 2025)
Transactional / Spot Sales	At a point in time (Products with alternative use)	86%
Contractual / OEM Business	Over time (Products with no alternative use)	14%

High-touch technical support for complex fabrication projects

For projects requiring specialized processing, the relationship involves high-touch technical support, which is essential for value-added services. This support underpins the ability to command higher pricing, as seen by the Q3 2025 average selling price of $2,395 per ton. This service level helps differentiate Ryerson Holding Corporation from pure commodity distributors.

Key operational metrics reflecting customer engagement and market dynamics:

• Transactional sales increased 12% year-over-year in Q1 2025.
• Q3 2025 tons shipped were 485,000 tons.
• Q4 2025 shipment forecast projects a sequential decrease of 5% to 7%.
• Global liquidity stood at $521 million as of September 30, 2025.
• The company ended Q3 2025 with total debt of $500 million.

Finance: draft 13-week cash view by Friday.

Ryerson Holding Corporation (RYI) - Canvas Business Model: Channels

Ryerson Holding Corporation uses an intelligent network of branded service centers to reach its customers. This network includes over 110 physical service centers and warehouses across the United States, Canada, Mexico, and China.

The company supports this physical footprint with a direct sales approach. Ryerson Holding Corporation has approximately 4,300 employees, many of whom support direct sales and service functions. The focus on direct customer interaction is supported by growth in transactional business, which saw transactional sales increase by 12% year-over-year in the first quarter of 2025.

The e-commerce platform, ryerson.com, supports online ordering as part of its overall channel strategy. While specific revenue figures for the platform aren't detailed, the overall channel effectiveness is reflected in the total tons shipped across the network. The company is focused on operational productivity, with expense per ton sold decreasing by $32 year-over-year in the first quarter of 2025.

Logistics capacity, utilizing both company-owned and third-party fleets, moves significant volume through these channels. For example, in the first quarter of 2025, Ryerson Holding Corporation shipped 500,000 tons. Shipments were 485,000 tons in the third quarter of 2025. This movement of material is central to delivering the value-added processing and distribution services. The company is continuing the start-up and commissioning of major capital expenditure projects at service centers in locations like Shelbyville, KY, Norcross, GA, Dallas, TX, and Los Angeles, CA, to optimize these assets.

Here's a look at the volume moved through the distribution channels for the first three quarters of 2025:

Metric	Q1 2025	Q2 2025	Q3 2025
Revenue	$1.14 billion	$1.17 billion	$1.16 billion
Tons Shipped	500,000	Approx. 501,000	485,000
Average Selling Price/Ton	$2,271	(Implied higher than Q1)	$2,395

The network of over 110 locations provides the physical reach for these channel activities.

You should track the ongoing capital improvements as they directly impact the efficiency of these physical channels. Finance: draft 13-week cash view by Friday.

Ryerson Holding Corporation (RYI) - Canvas Business Model: Customer Segments

You're looking at how Ryerson Holding Corporation segments its diverse customer base, which spans about 40,000 customers across 107 facilities in North America and four in China as of early 2025. The company serves everyone from small local shops to massive international Original Equipment Manufacturers (OEMs).

The breakdown of Ryerson Holding Corporation's customer base by end market, based on the 2024 revenue figures, gives you a clear picture of where the bulk of the sales volume originates. For context, Ryerson Holding Corporation's annual revenue in 2024 was $4.60B.

Customer End Market (Based on 2024 Revenue)	Percentage of 2024 Revenue	Approximate 2024 Revenue Amount
Metal Fabrication & Machine Shops	23%	$1.058B
Commercial Ground Transportation	18%	$0.828B
Industrial Machinery & Equipment	16%	$0.736B
Consumer Durable	9%	$0.414B
Other/Unspecified End Markets	34%	$1.564B

Original Equipment Manufacturers (OEMs) with contractual needs

This group represents Ryerson Holding Corporation's larger, often more predictable, program business. While not broken out as a single segment in the end-market data, these customers are typically embedded within the major categories like Industrial Machinery & Equipment and Commercial Ground Transportation. You saw evidence of this segment's nature in the first quarter of 2025, where revenue performance was 'partially offset by weaker-than-expected demand among larger program accounts.' This suggests that contractual volume can be lumpy or subject to customer capital expenditure cycles. Ryerson Holding Corporation is actively working on modernizing its service center network, which CEO Eddie Lehner noted is aimed at improving earnings quality over time, likely to better serve these long-term partners.

Metal fabricators and machinery manufacturers

This is a core group, with Metal Fabrication & Machine Shops accounting for 23% of 2024 revenue, or about $1.058B. The Industrial Machinery & Equipment segment adds another 16%, or roughly $0.736B of 2024 revenue. These customers rely on Ryerson Holding Corporation for a variety of metals, including stainless steel, aluminum, and carbon steel.

Construction and heavy equipment producers

This specific group likely falls under the broader Industrial Machinery & Equipment category, which represented 16% of 2024 revenue. The demand from this segment is tied to broader economic activity and infrastructure spending. Ryerson Holding Corporation's ability to process nearly 80% of the materials it sells helps it meet the specific fabrication needs of this customer type.

Small-to-midsize businesses (SMBs) using transactional spot-buys

This segment is characterized by its reliance on transactional sales, which are typically smaller, non-contractual orders. Ryerson Holding Corporation showed strength here, as transactional sales increased by 12% year-over-year in the first quarter of 2025. This growth in transactional volume is a key indicator of market share gains in this highly fragmented part of the market, where competition is often based on price, service, and timely delivery. The company serves approximately 40,000 customers, a large portion of whom are these smaller, local fabricators.

• Ryerson Holding Corporation serves approximately 40,000 customers.
• Transactional sales grew 12% year-over-year in Q1 2025.
• The company operates across North America and China, with international locations accounting for 10.0% of consolidated 2024 net sales, or $457.6 million.
• In Q3 2025, Ryerson Holding Corporation generated revenue of $1.1615 billion.

Finance: review the Q3 2025 revenue mix against the 2024 percentages to see if the transactional growth translated into a higher percentage for the SMB-related segments by year-end.

Ryerson Holding Corporation (RYI) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Ryerson Holding Corporation's operations as of late 2025. The cost structure here is dominated by the materials themselves, which makes managing commodity price swings the single biggest factor in profitability.

Cost of Goods Sold (COGS) is the primary cost driver, heavily influenced by metal commodity prices, especially for stainless steel and aluminum, where price inflation was noted in Q3 2025. While the exact COGS figure isn't provided in isolation, the impact is visible through the gross margin performance. For instance, Ryerson Holding Corporation's gross margin in Q3 2025 was reported at 17.2%.

The accounting method used to manage inventory cost volatility introduces specific non-operating expenses that you need to track. The LIFO expense (Last-In, First-Out) was a direct reflection of this commodity pressure, totaling $13.2 million in the third quarter of 2025. This was consistent with the expense recorded in the second quarter of 2025.

Operating costs are managed tightly, though they still represent a substantial outlay. The Operating expenses, which include warehousing, delivery, selling, general, and administrative (SG&A) costs, totaled $200.5 million for the third quarter of 2025. This figure actually represented a sequential decrease of 1.5% compared to the second quarter of 2025, driven by lower variable expenses.

Here's a quick look at the key cost components and related balance sheet items from the third quarter of 2025:

Cost/Expense Category	Q3 2025 Amount (Millions USD)	Context/Target
Warehousing, Delivery, SG&A	$200.5	Q3 2025 Actual Expense
LIFO Expense	$13.2	Q3 2025 Actual Expense
Interest and Other Expense on Debt	$10.3	Q3 2025 Actual Expense
Total Debt	$500	Balance at End of Q3 2025

On the investment side, Ryerson Holding Corporation is managing its long-term spending carefully. Capital expenditures (CapEx) are targeted at $50 million for the full-year 2025. This level follows a record three-year investment cycle and focuses on operationalizing final components of those modernization projects while returning to a more normalized investment pace.

Financing costs are tied directly to the balance sheet leverage. The total debt stood at $500 million at the close of the third quarter of 2025, with net debt at $470 million. The cost of servicing this debt, reflected in the Interest and other expense on debt for Q3 2025, was $10.3 million.

You should keep an eye on these operational expenses, as they are a key area management can control:

• Warehousing and delivery costs are variable with shipment volumes.
• SG&A management is a focus, showing a sequential decrease in Q3 2025.
• The company is managing its asset base to reduce future maintenance CapEx.

Finance: draft 13-week cash view by Friday.

Ryerson Holding Corporation (RYI) - Canvas Business Model: Revenue Streams

The primary engine for Ryerson Holding Corporation revenue comes from the sales of processed and unprocessed industrial metals, which is the core of their distribution business. You saw this reflected clearly in the third quarter of 2025, where the company generated net sales of $1,161.5 million, which was in-line with their guidance for that period. This revenue was achieved even while facing protracted weak demand and tariff pricing conditions in the market.

To give you a clearer picture of the Q3 2025 performance driving that top line, here are the key operational metrics:

Metric	Q3 2025 Value	Q2 2025 Comparison (QoQ)	Q3 2024 Comparison (YoY)
Revenue ($ in millions)	$1,161.5	(0.7) %	3.1 %
Tons Shipped (in thousands)	485	(3.2) %	- % (Flat)
Average Selling Price/Ton	$2,395	Up 2.6 %	Up 3.1 %

The composition of that revenue stream shows a clear dynamic between different customer types. Transactional sales, which represent the spot market business, have been a definite area of strength for Ryerson Holding Corporation. This segment has been growing, with the transactional business mix increasing for the fifth consecutive quarter as of Q2 2025. For instance, in the first quarter of 2025, transactional sales increased by 12% YoY. This self-help driven transactional field business was noted as pulling the plow, even as other areas struggled.

Conversely, the contractual sales stream to large OEM customers has been under pressure. Areas of particular weakness in Q3 2025 included OEM contract shipments. Customer activity was described as turning increasingly cautious, especially within that larger contractual book of business during the second quarter of 2025.

Ryerson Holding Corporation also generates revenue from value-added service fees. These services include things like cutting, forming, and assembly, which add margin to the base metal sales. While specific revenue percentages for these services aren't broken out in the headline figures, they are integral to the value proposition. The company continues to progress on operationalizing new investments made over the past three years, which supports the efficiency and delivery of these services.

The commitment to shareholders through dividends is also supported by these revenue streams. Ryerson Holding Corporation declared a fourth-quarter 2025 dividend of $0.1875 per share, which translated to a cash return of $6.0 million in the third quarter of 2025.

You can see the revenue sources broken down by activity type here:

• Sales of processed and unprocessed industrial metals form the base revenue.
• Transactional sales (spot market) are growing, increasing for five straight quarters through Q2 2025.
• Contractual sales to large OEM customers faced weakness in Q3 2025.
• Value-added service fees support the overall margin structure.

Finance: draft 13-week cash view by Friday.