Russel Metals Inc. (RUS.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-30.3%

CA$61.13

vs CA$87.70 price

Levered DCF

CA$58.86

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.17

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	14.55×	15.42×	10.4×	4.87×	4.87×	58.28×	18.02×	6.04×
P/B	1.55×	1.49×	1.69×	1.16×	1.69×	1.63×	1.46×	1.32×
P/S	0.53×	0.58×	0.61×	0.36×	0.5×	0.53×	0.37×	0.32×
EV / EBITDA	8.3×	8.35×	5.99×	3.22×	3.62×	14.27×	9.85×	4.83×
Gross margin	21.8%	20.9%	21.2%	22.2%	28.8%	19.3%	17.4%	21.2%
Operating margin	5.2%	5.2%	12.4%	10.1%	14.5%	3.4%	3.9%	8.0%
Net margin	3.6%	3.8%	5.9%	7.3%	10.3%	0.9%	2.1%	5.3%
Current ratio	3.06×	3.13×	4.14×	3.73×	2.69×	3.55×	3.44×	2.74×
Debt / equity	0.3×	0.12×	0.26×	0.27×	0.32×	0.46×	0.65×	0.57×
Interest coverage	9.53×	9.03×	19.45×	18.69×	23.13×	2.49×	3.53×	10.6×
Dividend yield	3.9%	3.9%	3.5%	5.3%	4.5%	6.7%	6.9%	7.1%
Payout ratio	56.8%	60.6%	36.4%	25.7%	22.1%	385.7%	123.4%	43.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.6%	9.7%	16.3%	23.9%	34.6%	2.8%	8.1%	21.8%
Return on invested capital	8.5%	8.8%	20.3%	19.4%	26.8%	6.2%	6.6%	15.3%
Return on assets	6.3%	6.9%	10.4%	14.8%	18.7%	1.5%	4.0%	10.3%
Free cash flow yield	5.1%	10.2%	14.0%	17.6%	13.1%	24.5%	15.6%	3.5%
Earnings yield	6.9%	6.5%	9.6%	20.5%	20.5%	1.7%	5.6%	16.6%
Enterprise value	CA$2.8B	CA$2.6B	CA$2.6B	CA$1.9B	CA$2.4B	CA$1.8B	CA$2B	CA$1.8B
Net debt / EBITDA	1.08×	0.48×	-0.48×	0.1×	0.41×	2.98×	3×	1.22×
Cash conversion cycle (days)	98	95	78	81	102	121	115	113