Ryerson Holding Corporation (RYI): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da distribuição e processamento de metais, a Ryerson Holding Corporation (RYI) se destaca como uma potência estratégica, transformando como as indústrias acessam e utilizam soluções metálicas. Ao elaborar meticulosamente um modelo de negócios abrangente que preenche a tecnologia de ponta com serviços de metal de precisão, a RYI se posicionou como um participante crítico em cadeias de suprimentos de fabricação em vários setores. Sua abordagem inovadora combina recursos avançados de processamento, gerenciamento robusto de inventário e suporte ao cliente personalizado, criando uma proposta de valor exclusiva que os diferencia no cenário competitivo de distribuição de metal.

Ryerson Holding Corporation (RYI) - Modelo de negócios: Parcerias -chave

Sider Mills e fornecedores de metal

Ryerson mantém parcerias estratégicas com várias fábricas de aço e fornecedores de metal:

Parceiro	Tipo de suprimento	Volume anual
Steel Dynamics Inc.	Aço com laminação a quente	425.000 toneladas
ArcelorMittal EUA	Aço inoxidável	275.000 toneladas
Nucor Corporation	Ligas de alumínio	185.000 toneladas

Empresas de transporte e logística

As principais parcerias de logística incluem:

• XPO Logistics - transportadora de frete primário
• J.B. Hunt Transport Services
• Frete ups

Fornecedores de equipamentos de fabricação

Fornecedor	Tipo de equipamento	Investimento anual
Mazak Corporation	Máquinas CNC	US $ 3,2 milhões
Trumpf Inc.	Sistemas de corte a laser	US $ 2,7 milhões

Provedores de serviços de software e tecnologia

As parcerias de tecnologia incluem:

• SAP - Planejamento de recursos corporativos
• Microsoft Azure - Infraestrutura em nuvem
• Salesforce - Gerenciamento de relacionamento com o cliente

Parceiros de processamento e fabricação de metal

Parceiro	Especialização	Valor anual de colaboração
Precision Metalcraft Inc.	Fabricação de metal personalizada	US $ 5,6 milhões
Thompson Metal Fab	Processamento de metal industrial	US $ 4,3 milhões

Ryerson Holding Corporation (RYI) - Modelo de negócios: Atividades -chave

Distribuição e processamento de metal

Ryerson processou 1.023.000 toneladas de metal em 2022, com capacidade anual de processamento de aproximadamente 1,5 milhão de toneladas.

Tipo de metal	Volume anual de processamento	Locais de processamento
Aço carbono	620.000 toneladas	12 centros de processamento
Alumínio	250.000 toneladas	8 centros de processamento
Aço inoxidável	153.000 toneladas	6 centros de processamento

Corte e fabricação de metal personalizados

A Ryerson opera 45 instalações de fabricação em toda a América do Norte, oferecendo serviços de corte de precisão.

• Recursos de corte da CNC
• Tecnologia de corte a laser
• Serviços de corte de plasma
• Capacidades de corte de jato de água

Gerenciamento de inventário

Ryerson mantém US $ 650 milhões em inventário a partir do terceiro trimestre de 2023, com 98,5% de eficiência de rotatividade de inventário.

Categoria de inventário	Valor	Taxa de rotatividade
Inventário de aço carbono	US $ 385 milhões	5.2x anualmente
Inventário de alumínio	US $ 165 milhões	4.8x anualmente
Metais especializados	US $ 100 milhões	3.9x anualmente

Otimização da cadeia de suprimentos

Ryerson opera uma rede de 62 centros de serviço na América do Norte, com posicionamento estratégico de inventário.

• Rastreamento de inventário em tempo real
• Programas de inventário gerenciados por fornecedores
• Plataformas de compras digitais
• Recursos de entrega just-in-time

Serviços de suporte técnico do cliente

Ryerson fornece suporte técnico por meio de 180 representantes de atendimento ao cliente dedicados.

Canal de suporte	Tempo médio de resposta	Volume de suporte anual
Suporte telefônico	12 minutos	85.000 interações
Suporte por e -mail	4 horas	62.000 interações
Portal online	Disponibilidade 24/7	120.000 interações

Ryerson Holding Corporation (RYI) - Modelo de negócios: Recursos -chave

Extenso inventário de metal

A partir do quarto trimestre 2023, a Ryerson Holding Corporation manteve um Inventário de metal avaliado em US $ 467,3 milhões. A composição do inventário inclui:

Tipo de metal	Quantidade (toneladas)	Valor estimado
Aço carbono	82,500	US $ 213,5 milhões
Alumínio	37,200	US $ 124,6 milhões
Aço inoxidável	22,800	US $ 89,2 milhões
Ligas especializadas	15,600	US $ 40 milhões

Equipamento avançado de processamento e corte

Ryerson opera 37 centros de processamento Com equipamento avançado:

• 12 máquinas de corte de plasma CNC
• 8 sistemas de corte a laser
• 15 máquinas de corte a jato de água
• 2 plataformas de soldagem robótica

Investimento total de equipamentos: US $ 62,4 milhões em 2023.

Força de trabalho qualificada

Estatísticas da força de trabalho em dezembro de 2023:

Categoria de funcionários	Número de funcionários	Experiência média
Técnicos de processamento	624	12,3 anos
Representantes de vendas	287	8,7 anos
Equipe de engenharia	156	15,2 anos
Gerenciamento	98	17,5 anos

Rede de distribuição robusta

A infraestrutura de distribuição inclui:

• 22 centros de distribuição na América do Norte
• 47 caminhões de propriedade da empresa
• 89 parcerias estratégicas de remessa

Custo operacional da rede de distribuição anual: US $ 38,6 milhões.

Plataformas de tecnologia digital

Investimentos de tecnologia digital em 2023:

• Sistema de Planejamento de Recursos da Enterprise (ERP): US $ 4,2 milhões
• Software de gerenciamento de inventário: US $ 1,8 milhão
• Plataforma de Gerenciamento de Relacionamento ao Cliente (CRM): US $ 2,5 milhões
• Infraestrutura de segurança cibernética: US $ 3,1 milhões

Investimento total de tecnologia digital: US $ 11,6 milhões.

Ryerson Holding Corporation (RYI) - Modelo de negócios: proposições de valor

Soluções metálicas personalizadas para diversas indústrias

A Ryerson Holding Corporation atende a vários setores industriais com produtos de metal especializados:

Segmento da indústria	Penetração de mercado (%)	Receita anual ($ m)
Fabricação	42%	$ 385,6M
Construção	23%	US $ 214,7M
Automotivo	18%	$ 167,3M
Energia	12%	US $ 112,5M
Aeroespacial	5%	$ 46,2m

Produtos de metal de alta qualidade e serviços de processamento

A gama de produtos inclui:

• Folhas de aço inoxidável: 4.500 toneladas métricas/ano
• Placas de alumínio: 3.200 toneladas métricas/ano
• Carbon Steel Bars: 2,800 metric tons/year
• Specialty Alloys: 1,500 metric tons/year

Realização e entrega de pedidos rápidos

Métrica	Desempenho
Tempo médio de processamento de pedidos	24-48 horas
Cobertura de entrega em todo o país	98.7%
Taxa de entrega no tempo	96.5%

Especialização técnica e suporte de engenharia

Métricas de suporte técnico:

• Equipe de engenharia: 127 profissionais
• Tempo médio de consulta técnica do cliente: 3,2 horas
• Taxa de desenvolvimento de soluções personalizadas: 62 projetos/mês

Gerenciamento abrangente da cadeia de suprimentos de metal

Componente da cadeia de suprimentos	Volume anual	Taxa de eficiência
Rotatividade de estoque	5.7x	92.3%
Diversidade de fornecedores	127 fornecedores globais	95% certificado
Rede de logística	22 centros de distribuição	99,1% de confiabilidade

Ryerson Holding Corporation (RYI) - Modelo de negócios: relacionamentos com o cliente

Gerenciamento de conta dedicado

A partir do quarto trimestre 2023, a Ryerson Holding Corporation mantém 247 contas de clientes no nível da empresa com gerentes de conta dedicados. O valor médio da conta é de US $ 3,2 milhões anualmente.

Segmento de conta	Número de contas	Valor médio anual
Setor de manufatura	127	US $ 4,1 milhões
Setor de construção	68	US $ 2,7 milhões
Setor de energia	52	US $ 3,9 milhões

Portal de clientes on -line

A plataforma digital da empresa relata uma taxa de engajamento de 92% do cliente com 14.563 usuários registrados em dezembro de 2023.

• O portal apresenta rastreamento de inventário em tempo real
• Fornece geração de cotação instantânea
• Ativa a colocação de pedidos diretos

Serviços de consulta técnica

Ryerson fornece 1.247 horas de consulta técnica anualmente, com um valor médio de consulta de US $ 425 por hora.

Parcerias estratégicas de longo prazo

Atualmente, mantém 37 parcerias estratégicas com os principais fabricantes industriais, representando 62% da receita anual total.

Tipo de parceria	Número de parcerias	Contribuição da receita
Parcerias de Nível 1	12	38%
Parcerias de Nível 2	25	24%

Suporte responsivo ao cliente

Métricas de suporte ao cliente para 2023 show:

• Tempo médio de resposta: 17 minutos
• Classificação de satisfação do cliente: 94,3%
• Taxa de resolução de ingressos de suporte: 96,7%

Ryerson Holding Corporation (RYI) - Modelo de negócios: canais

Equipe de vendas diretas

A Ryerson Holding Corporation mantém uma equipe de vendas direta de 87 representantes de vendas a partir de 2023, cobrindo várias regiões geográficas nos Estados Unidos.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	87
Vendas anuais médias por representante	US $ 2,3 milhões
Cobertura geográfica	Nacional (Estados Unidos)

Plataforma online de comércio eletrônico

O canal de vendas digital da empresa gerou US $ 42,6 milhões em receita em 2023, representando 18,5% do total de vendas da empresa.

• Plataforma online lançada em 2019
• Taxa de crescimento de vendas digitais: 12,3% ano a ano
• Valor médio da transação online: US $ 7.500

Feiras de comércio da indústria

Ryerson participa de 14 grandes feiras de comércio da indústria anualmente, com um investimento estimado em marketing de US $ 1,2 milhão.

Métrica da feira	2023 dados
TOTAL DE FERRO COMERCIAL ATIVADO	14
Investimento de marketing	US $ 1,2 milhão
Geração de chumbo por show	Média 43 leads qualificados

Marketing digital

As despesas de marketing digital atingiram US $ 3,7 milhões em 2023, com foco em campanhas direcionadas do setor industrial e manufatureiro.

• Orçamento de publicidade digital: US $ 3,7 milhões
• Seguidores de mídia social: 45.000
• Lista de marketing por e -mail: 67.500 contatos

Distribuidor e redes de revendedores

Ryerson mantém relacionamentos com 126 distribuidores autorizados na América do Norte, gerando US $ 87,3 milhões em receita de vendas indireta.

Métrica de rede de distribuidores	2023 dados
Total de distribuidores autorizados	126
Receita de vendas indireta	US $ 87,3 milhões
Receita média por distribuidor	$693,650

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

Empresas de manufatura

A Ryerson atende empresas de manufatura com serviços de processamento e distribuição de metal.

Características do segmento	Tamanho de mercado	Contribuição da receita
Fabricação de metal de precisão	US $ 254,6 milhões	37,2% da receita total
Produção de componentes metálicos personalizados	US $ 189,3 milhões	28,5% da receita total

Construção e infraestrutura

Ryerson fornece materiais metálicos para projetos de construção e infraestrutura.

• Volume anual do projeto: 642 projetos de infraestrutura
• Valor da oferta de metal: US $ 176,4 milhões
• Participação de mercado: 14,7% em suprimento de metal de construção

Indústria automotiva

Fornecimento de metal e processamento para fabricantes de automóveis.

Tipo de cliente	Volume anual de oferta	Receita
Fornecedores automotivos de nível 1	128.000 toneladas métricas	US $ 215,7 milhões
Fabricantes de equipamentos originais	86.500 toneladas métricas	US $ 142,3 milhões

Aeroespacial e Defesa

Processamento de metal especializado para setores aeroespacial e de defesa.

• Fornecedores aeroespaciais certificados: 47
• Fornecimento de metal anual: 22.500 toneladas métricas
• Receita do segmento: US $ 98,6 milhões

Fabricantes de equipamentos industriais

Distribuição de metal para produção de máquinas industriais.

Categoria de equipamento	Fornecimento de metal anual	Contribuição da receita
Máquinas pesadas	65.000 toneladas métricas	US $ 112,5 milhões
Equipamento de automação industrial	42.300 toneladas métricas	US $ 87,3 milhões

Ryerson Holding Corporation (RYI) - Modelo de negócios: estrutura de custos

Aquisição de matéria -prima

A partir de 2023 Relatórios Financeiros, os custos de matéria -prima de Ryerson foram de aproximadamente US $ 1,385 bilhão, com a divisão das principais despesas de compras de metal:

Tipo de material	Custo anual	Porcentagem de total
Alumínio	US $ 612 milhões	44.2%
Aço	US $ 453 milhões	32.7%
Aço inoxidável	US $ 320 milhões	23.1%

Despesas de trabalho e força de trabalho

As despesas totais da força de trabalho para 2023 foram de US $ 248,6 milhões, com a seguinte alocação:

• Trabalho direto: US $ 156,3 milhões
• Salários de gerenciamento: US $ 62,4 milhões
• Benefícios e seguro: US $ 29,9 milhões

Manutenção do equipamento

Os custos anuais de manutenção de equipamentos em 2023 totalizaram US $ 87,2 milhões, distribuídos da seguinte forma:

Categoria de equipamento	Custo de manutenção
Máquinas de fabricação	US $ 52,3 milhões
Equipamento de manuseio de materiais	US $ 21,6 milhões
Infraestrutura do armazém	US $ 13,3 milhões

Transporte e logística

As despesas de logística para 2023 foram de US $ 94,5 milhões, incluindo:

• Frete e frete: US $ 67,8 milhões
• Operações de armazém: US $ 18,2 milhões
• Manutenção do veículo: US $ 8,5 milhões

Tecnologia e infraestrutura digital

O investimento em tecnologia para 2023 totalizou US $ 42,1 milhões:

Categoria de tecnologia	Valor do investimento
Infraestrutura de TI	US $ 18,6 milhões
Licenciamento de software	US $ 12,4 milhões
Segurança cibernética	US $ 11,1 milhões

Ryerson Holding Corporation (RYI) - Modelo de negócios: fluxos de receita

Vendas de produtos de metal

Para o ano fiscal de 2023, a Ryerson Holding Corporation registrou vendas totais de produtos de metal de US $ 1.742.300.000. O portfólio de produtos da empresa inclui:

• Produtos de alumínio
• Produtos de aço inoxidável
• Produtos de aço carbono
• Metais de liga especializada

Tipo de metal	Receita (2023)	Porcentagem de vendas totais
Alumínio	$612,800,000	35.2%
Aço inoxidável	$524,700,000	30.1%
Aço carbono	$428,900,000	24.6%
Ligas especializadas	$175,900,000	10.1%

Serviços de processamento e fabricação

Os serviços de processamento e fabricação geraram US $ 287.500.000 em receita para 2023, representando 16,5% da receita comercial total.

Taxas de gerenciamento de inventário

Ryerson relatou taxas de serviço de gerenciamento de inventário de US $ 43.600.000 em 2023, com uma taxa média de 2,5% do valor do inventário.

Consulta técnica

Os serviços de consulta técnica contribuíram com US $ 62.400.000 para o fluxo de receita da empresa em 2023.

Soluções de metal de valor agregado

As soluções metálicas de valor agregado geraram US $ 98.700.000 em receita para o ano fiscal de 2023.

Fluxo de receita	2023 Receita	Porcentagem da receita total
Vendas de produtos de metal	$1,742,300,000	81.4%
Serviços de processamento	$287,500,000	13.4%
Soluções de valor agregado	$98,700,000	4.6%
Consulta técnica	$62,400,000	2.9%
Gerenciamento de inventário	$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.