R&S Family of Companies

Ownership Valuation Report
February 23, 2026
24
Entities
17
Individual Shareholders

How Values Are Calculated

Entity values come directly from the source spreadsheet. Each reflects the full worth of the business, including any ownership it holds in other R&S entities.

Individual values are the sum of each person's shares across all entities, priced at each entity's value per share: shares held Γ— value per share = holding value.

R&S Erection, Inc. is the central holding company with no stated value in the spreadsheet. Its value is computed as the sum of its shareholdings across all entities it owns β€” yielding loading... total, or loading.../share.

Note: Total entity value and total individual value are different numbers by design. Individuals hold fractions of each entity β€” the remainder is cross-owned by other R&S entities.

Individual Values

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Entity Values

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