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Reliance vs Greenwave Technology Solutions: RS and GWAV compared
Reliance is the larger company: $5.2B of revenue in its latest quarter (Q3 2026) against $16.0M for Greenwave Technology Solutions (Q2 2026). Greenwave Technology Solutions is growing faster (+46% against +43% a year earlier). Reliance is more profitable, with an operating margin of 10.6% against -17.8%.
Where the money goes: RS and GWAV
Reliance (RS) · Q3 2026
Reliance, Q3 2026: revenue $5.2B (+43% year over year), operating margin 10.6%, net earnings $403M, operating cash flow $212M. The chart follows the revenue to costs, profit and cash.
Greenwave Technology Solutions (GWAV) · Q2 2026
Greenwave Technology Solutions, Q2 2026: revenue $16.0M (+46% year over year), operating margin -17.8%, net loss $3.2M, operating cash flow −$370K. The chart follows the revenue to costs, profit and cash.
| Reliance (RS) | Greenwave Technology Solutions (GWAV) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $5.2B | $16.0M |
| Revenue growth, Y/Y | +43% | +46% |
| Operating margin | 10.6% | -17.8% |
| Net earnings | $403M | −$3.2M |
| Net margin | 7.7% | -20.3% |
| Operating cash flow | $212M | −$370K |
| Free cash flow | $133M | — |
| Market value | $21.3B | — |
| P/E | 19.3× | — |
| Analysts’ mean target | $430.89 | — |
Where the revenue comes from
Reliance
- Carbon steel: $3.1B (60%)
- Aluminum: $862M (17%)
- Stainless steel: $635M (12%)
- Toll processing and logistics: $190M (4%)
Greenwave Technology Solutions
- Scrap Metal Recycling: $14.5M (90%)
- Hauling: $1.5M (10%)
- Other: $22K (0%)
Questions
Which is bigger, Reliance or Greenwave Technology Solutions?
Reliance is the larger company: $5.2B of revenue in its latest quarter (Q3 2026) against $16.0M for Greenwave Technology Solutions (Q2 2026).
Is Reliance or Greenwave Technology Solutions growing faster?
Greenwave Technology Solutions is growing faster (+46% against +43% a year earlier).
Which is more profitable, Reliance or Greenwave Technology Solutions?
Reliance is more profitable, with an operating margin of 10.6% against -17.8%.
More: Reliance earnings · how Reliance makes money · Greenwave Technology Solutions earnings · how Greenwave Technology Solutions makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 27, 2026; 10-Q filed Aug 18, 2026). Fiscal quarters can end on different dates. Not investment advice.