Intrinsic value of Ryerson Holding - RYI

Previous Close

$7.95

  Intrinsic Value

$3.06

stock screener

  Rating & Target

str. sell

-62%

  Value-price divergence*

-11%

Previous close

$7.95

 
Intrinsic value

$3.06

 
Up/down potential

-62%

 
Rating

str. sell

 
Value-price divergence*

-11%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of RYI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -9.69
  15.90
  14.81
  13.83
  12.95
  12.15
  11.44
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.64
  6.47
  6.33
  6.19
  6.07
  5.97
  5.87
  5.78
  5.70
  5.63
  5.57
  5.51
Revenue, $m
  2,860
  3,315
  3,806
  4,332
  4,893
  5,487
  6,115
  6,775
  7,467
  8,190
  8,946
  9,733
  10,553
  11,405
  12,291
  13,212
  14,170
  15,164
  16,198
  17,273
  18,391
  19,554
  20,765
  22,026
  23,341
  24,711
  26,139
  27,630
  29,187
  30,813
  32,512
Variable operating expenses, $m
 
  3,200
  3,673
  4,179
  4,719
  5,291
  5,895
  6,530
  7,196
  7,893
  8,620
  9,367
  10,156
  10,976
  11,829
  12,716
  13,637
  14,594
  15,589
  16,624
  17,700
  18,819
  19,985
  21,198
  22,463
  23,781
  25,157
  26,592
  28,090
  29,654
  31,289
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,727
  3,200
  3,673
  4,179
  4,719
  5,291
  5,895
  6,530
  7,196
  7,893
  8,620
  9,367
  10,156
  10,976
  11,829
  12,716
  13,637
  14,594
  15,589
  16,624
  17,700
  18,819
  19,985
  21,198
  22,463
  23,781
  25,157
  26,592
  28,090
  29,654
  31,289
Operating income, $m
  133
  114
  133
  153
  174
  196
  220
  244
  270
  298
  326
  366
  397
  429
  462
  497
  533
  570
  609
  649
  692
  735
  781
  828
  878
  929
  983
  1,039
  1,097
  1,159
  1,222
EBITDA, $m
  176
  165
  189
  215
  243
  273
  304
  337
  371
  407
  445
  484
  525
  567
  611
  657
  705
  754
  806
  859
  915
  973
  1,033
  1,096
  1,161
  1,229
  1,300
  1,374
  1,452
  1,533
  1,617
Interest expense (income), $m
  89
  87
  88
  110
  133
  158
  184
  212
  241
  271
  303
  337
  371
  408
  445
  484
  525
  567
  611
  657
  704
  754
  805
  858
  914
  972
  1,033
  1,096
  1,162
  1,230
  1,302
Earnings before tax, $m
  26
  28
  45
  43
  41
  38
  36
  33
  30
  26
  23
  29
  25
  21
  17
  12
  8
  3
  -2
  -7
  -13
  -18
  -24
  -30
  -37
  -43
  -50
  -57
  -64
  -72
  -80
Tax expense, $m
  7
  7
  12
  12
  11
  10
  10
  9
  8
  7
  6
  8
  7
  6
  5
  3
  2
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  19
  20
  33
  31
  30
  28
  26
  24
  22
  19
  17
  21
  18
  15
  12
  9
  6
  2
  -2
  -7
  -13
  -18
  -24
  -30
  -37
  -43
  -50
  -57
  -64
  -72
  -80

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  81
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,559
  1,806
  2,074
  2,361
  2,666
  2,990
  3,332
  3,692
  4,069
  4,463
  4,875
  5,304
  5,751
  6,215
  6,698
  7,200
  7,722
  8,264
  8,827
  9,413
  10,022
  10,656
  11,316
  12,004
  12,720
  13,466
  14,245
  15,057
  15,906
  16,792
  17,718
Adjusted assets (=assets-cash), $m
  1,478
  1,806
  2,074
  2,361
  2,666
  2,990
  3,332
  3,692
  4,069
  4,463
  4,875
  5,304
  5,751
  6,215
  6,698
  7,200
  7,722
  8,264
  8,827
  9,413
  10,022
  10,656
  11,316
  12,004
  12,720
  13,466
  14,245
  15,057
  15,906
  16,792
  17,718
Revenue / Adjusted assets
  1.935
  1.836
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
  1.835
Average production assets, $m
  438
  507
  582
  663
  749
  840
  936
  1,037
  1,142
  1,253
  1,369
  1,489
  1,615
  1,745
  1,881
  2,022
  2,168
  2,320
  2,478
  2,643
  2,814
  2,992
  3,177
  3,370
  3,571
  3,781
  3,999
  4,227
  4,466
  4,714
  4,974
Working capital, $m
  666
  699
  803
  914
  1,032
  1,158
  1,290
  1,429
  1,575
  1,728
  1,888
  2,054
  2,227
  2,406
  2,593
  2,788
  2,990
  3,200
  3,418
  3,645
  3,881
  4,126
  4,381
  4,648
  4,925
  5,214
  5,515
  5,830
  6,158
  6,502
  6,860
Total debt, $m
  964
  980
  1,221
  1,479
  1,754
  2,045
  2,353
  2,677
  3,016
  3,371
  3,742
  4,128
  4,530
  4,948
  5,382
  5,834
  6,304
  6,792
  7,299
  7,826
  8,374
  8,945
  9,539
  10,157
  10,802
  11,474
  12,174
  12,906
  13,669
  14,467
  15,300
Total liabilities, $m
  1,610
  1,626
  1,867
  2,125
  2,400
  2,691
  2,999
  3,323
  3,662
  4,017
  4,388
  4,774
  5,176
  5,594
  6,028
  6,480
  6,950
  7,438
  7,945
  8,472
  9,020
  9,591
  10,185
  10,803
  11,448
  12,120
  12,820
  13,552
  14,315
  15,113
  15,946
Total equity, $m
  -51
  181
  207
  236
  267
  299
  333
  369
  407
  446
  488
  530
  575
  622
  670
  720
  772
  826
  883
  941
  1,002
  1,066
  1,132
  1,200
  1,272
  1,347
  1,424
  1,506
  1,591
  1,679
  1,772
Total liabilities and equity, $m
  1,559
  1,807
  2,074
  2,361
  2,667
  2,990
  3,332
  3,692
  4,069
  4,463
  4,876
  5,304
  5,751
  6,216
  6,698
  7,200
  7,722
  8,264
  8,828
  9,413
  10,022
  10,657
  11,317
  12,003
  12,720
  13,467
  14,244
  15,058
  15,906
  16,792
  17,718
Debt-to-equity ratio
  -18.902
  5.420
  5.890
  6.260
  6.580
  6.840
  7.060
  7.250
  7.410
  7.550
  7.670
  7.780
  7.880
  7.960
  8.040
  8.100
  8.160
  8.220
  8.270
  8.310
  8.360
  8.390
  8.430
  8.460
  8.490
  8.520
  8.550
  8.570
  8.590
  8.620
  8.640
Adjusted equity ratio
  -0.089
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  19
  20
  33
  31
  30
  28
  26
  24
  22
  19
  17
  21
  18
  15
  12
  9
  6
  2
  -2
  -7
  -13
  -18
  -24
  -30
  -37
  -43
  -50
  -57
  -64
  -72
  -80
Depreciation, amort., depletion, $m
  43
  51
  57
  63
  70
  77
  85
  93
  101
  110
  119
  118
  128
  138
  149
  160
  172
  184
  197
  210
  223
  237
  252
  267
  283
  300
  317
  336
  354
  374
  395
Funds from operations, $m
  -15
  71
  89
  94
  99
  105
  111
  116
  123
  129
  135
  140
  147
  154
  162
  169
  178
  186
  195
  202
  211
  219
  228
  237
  247
  257
  268
  279
  290
  303
  315
Change in working capital, $m
  -40
  96
  104
  111
  118
  125
  132
  139
  146
  153
  159
  166
  173
  180
  187
  194
  202
  210
  218
  227
  236
  245
  256
  266
  277
  289
  301
  315
  328
  343
  358
Cash from operations, $m
  25
  -25
  -14
  -17
  -19
  -21
  -22
  -23
  -23
  -24
  -24
  -27
  -26
  -26
  -25
  -25
  -24
  -24
  -24
  -24
  -25
  -26
  -28
  -29
  -30
  -32
  -34
  -36
  -38
  -41
  -43
Maintenance CAPEX, $m
  0
  -35
  -40
  -46
  -53
  -59
  -67
  -74
  -82
  -91
  -99
  -109
  -118
  -128
  -138
  -149
  -160
  -172
  -184
  -197
  -210
  -223
  -237
  -252
  -267
  -283
  -300
  -317
  -336
  -354
  -374
New CAPEX, $m
  -23
  -69
  -75
  -81
  -86
  -91
  -96
  -101
  -106
  -111
  -116
  -120
  -125
  -130
  -136
  -141
  -146
  -152
  -158
  -164
  -171
  -178
  -185
  -193
  -201
  -210
  -219
  -228
  -238
  -249
  -260
Cash from investing activities, $m
  -21
  -104
  -115
  -127
  -139
  -150
  -163
  -175
  -188
  -202
  -215
  -229
  -243
  -258
  -274
  -290
  -306
  -324
  -342
  -361
  -381
  -401
  -422
  -445
  -468
  -493
  -519
  -545
  -574
  -603
  -634
Free cash flow, $m
  4
  -129
  -130
  -144
  -157
  -171
  -185
  -198
  -212
  -225
  -239
  -256
  -270
  -284
  -300
  -315
  -331
  -348
  -366
  -386
  -406
  -428
  -450
  -474
  -499
  -525
  -553
  -581
  -612
  -644
  -677
Issuance/(repayment) of debt, $m
  -54
  16
  241
  258
  275
  292
  308
  324
  339
  355
  370
  386
  402
  418
  435
  452
  469
  488
  507
  527
  548
  571
  594
  619
  645
  672
  701
  731
  763
  797
  833
Issuance/(repurchase) of shares, $m
  72
  212
  0
  0
  1
  5
  8
  12
  16
  20
  25
  22
  26
  31
  36
  41
  47
  52
  59
  66
  74
  82
  90
  99
  108
  118
  128
  138
  149
  160
  172
Cash from financing (excl. dividends), $m  
  12
  228
  241
  258
  276
  297
  316
  336
  355
  375
  395
  408
  428
  449
  471
  493
  516
  540
  566
  593
  622
  653
  684
  718
  753
  790
  829
  869
  912
  957
  1,005
Total cash flow (excl. dividends), $m
  18
  98
  111
  114
  119
  125
  131
  138
  144
  150
  156
  152
  158
  165
  171
  178
  185
  192
  200
  208
  216
  225
  234
  244
  254
  265
  276
  288
  301
  314
  328
Retained Cash Flow (-), $m
  -91
  -232
  -27
  -29
  -31
  -32
  -34
  -36
  -38
  -39
  -41
  -43
  -45
  -46
  -48
  -50
  -52
  -54
  -59
  -66
  -74
  -82
  -90
  -99
  -108
  -118
  -128
  -138
  -149
  -160
  -172
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -134
  84
  86
  88
  93
  97
  102
  106
  111
  115
  109
  114
  118
  123
  128
  133
  138
  141
  142
  142
  143
  144
  145
  146
  147
  148
  150
  152
  154
  156
Discount rate, %
 
  14.60
  15.33
  16.10
  16.90
  17.75
  18.63
  19.57
  20.54
  21.57
  22.65
  23.78
  24.97
  26.22
  27.53
  28.91
  30.35
  31.87
  33.46
  35.14
  36.89
  38.74
  40.68
  42.71
  44.84
  47.09
  49.44
  51.91
  54.51
  57.23
  60.10
PV of cash for distribution, $m
 
  -117
  63
  55
  47
  41
  35
  29
  24
  19
  15
  10
  8
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  49.8
  49.0
  47.7
  46.0
  44.1
  42.0
  39.8
  38.1
  36.3
  34.4
  32.6
  30.7
  28.8
  27.0
  25.2
  23.5
  21.7
  20.1
  18.5
  17.0
  15.6
  14.3
  13.1
  11.9
  10.8
  9.9
  8.9

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes various metals in in the United States, Mexico, Canada, China, and Brazil. The company offers a line of stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structurals, and tubings. It also provides value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius, and processing materials to a specified thickness, length, width, shape, and surface quality pursuant to specific customer orders. The company serves various industries, including customers making products or equipment for the commercial ground transportation, metal fabrication and machine shops, industrial machinery and equipment, consumer durables, HVAC, construction, food processing, and agriculture, as well as oil and gas. Ryerson Holding Corporation was founded in 1842 and is headquartered in Chicago, Illinois with an additional office located in Coon Rapids, Minnesota.

FINANCIAL RATIOS  of  Ryerson Holding (RYI)

Valuation Ratios
P/E Ratio 15.5
Price to Sales 0.1
Price to Book -5.8
Price to Tangible Book
Price to Cash Flow 11.8
Price to Free Cash Flow 147.6
Growth Rates
Sales Growth Rate -9.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 4.5%
Cap. Spend. - 3 Yr. Gr. Rate 2.8%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity -1852.9%
Total Debt to Equity -1890.2%
Interest Coverage 1
Management Effectiveness
Return On Assets 5.4%
Ret/ On Assets - 3 Yr. Avg. 1.3%
Return On Total Capital 2.1%
Ret/ On T. Cap. - 3 Yr. Avg. -0.1%
Return On Equity -19.7%
Return On Equity - 3 Yr. Avg. 1%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 20%
Gross Margin - 3 Yr. Avg. 18.1%
EBITDA Margin 5.5%
EBITDA Margin - 3 Yr. Avg. 4.3%
Operating Margin 4.7%
Oper. Margin - 3 Yr. Avg. 3.5%
Pre-Tax Margin 0.9%
Pre-Tax Margin - 3 Yr. Avg. 0.1%
Net Profit Margin 0.7%
Net Profit Margin - 3 Yr. Avg. -0%
Effective Tax Rate 26.9%
Eff/ Tax Rate - 3 Yr. Avg. 76.9%
Payout Ratio 0%

RYI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RYI stock intrinsic value calculation we used $2860 million for the last fiscal year's total revenue generated by Ryerson Holding. The default revenue input number comes from 2016 income statement of Ryerson Holding. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RYI stock valuation model: a) initial revenue growth rate of 15.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 14.6%, whose default value for RYI is calculated based on our internal credit rating of Ryerson Holding, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ryerson Holding.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RYI stock the variable cost ratio is equal to 96.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for RYI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9% for Ryerson Holding.

Corporate tax rate of 27% is the nominal tax rate for Ryerson Holding. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RYI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RYI are equal to 15.3%.

Life of production assets of 12.6 years is the average useful life of capital assets used in Ryerson Holding operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RYI is equal to 21.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-51 million for Ryerson Holding - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 36.295 million for Ryerson Holding is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ryerson Holding at the current share price and the inputted number of shares is $0.3 billion.

RELATED COMPANIES Price Int.Val. Rating
RS Reliance Steel 69.31 10.45  str.sell
ZEUS Olympic Steel 17.06 5.76  str.sell
WOR Worthington In 48.23 8.12  str.sell
NUE Nucor 54.11 4.58  str.sell
STLD Steel Dynamics 34.29 2.61  str.sell
MT ArcelorMittal 25.97 2.04  str.sell

COMPANY NEWS

▶ Ryerson misses 2Q profit forecasts   [Aug-05-17 01:13AM  Associated Press]
▶ Ryerson Reports Second Quarter 2017 Results   [Aug-03-17 04:28PM  PR Newswire]
▶ What To Look For In Steel Stock Earnings   [Jul-19-17 10:35AM  Barrons.com]
▶ ETFs with exposure to Ryerson Holding Corp. : May 8, 2017   [May-08-17 05:09PM  Capital Cube]
▶ Ryerson beats Street 1Q forecasts   [May-04-17 05:03AM  Associated Press]
▶ Ryerson Reports First Quarter 2017 Results   [May-03-17 04:30PM  PR Newswire]
▶ Company News for April 10, 2017   [Apr-10-17 10:42AM  Zacks]
▶ Story Stocks from Briefing.com   [08:09AM  Briefing.com]
▶ What Happened in the Stock Market Today   [Apr-07-17 04:52PM  Motley Fool]
▶ Insiders Invest in Ryerson Holding   [Mar-29-17 03:06PM  GuruFocus.com]
▶ Ryerson reports 4Q loss   [Mar-13-17 04:56PM  Associated Press]
▶ Ryerson Acquires Guy Metals   [Feb-15-17 04:34PM  PR Newswire]
▶ Ryerson Acquires Laserflex   [Jan-19-17 04:31PM  PR Newswire]
▶ Heres What Smart Money Thinks of Ryerson Holding Corp (RYI)   [Dec-08-16 01:23PM  at Insider Monkey]
▶ Ryerson Reports Third Quarter 2016 Results   [Nov-02-16 06:01PM  PR Newswire]
▶ Cramer: A stock with $1 downside and a $3 upside   [Sep-09-16 07:32PM  at CNBC]
Stock chart of RYI Financial statements of RYI
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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