Worthington Steel, Inc.

Steel Works, Blast Furnaces & Rolling & Finishing Mills

WSMixed8 of 11 basics passed

$36.05

+4.13%

Market cap $1.81B

$36.05

+4.13%

Market cap $1.81B

Worthington Steel Inc is a value-added metals processors with the ability to provide a diversified products and services that span a variety of end markets. It is a value-added processor of carbon flat-rolled steel and a producer of laser welded solutions and electrical steel laminations.

It is a $1.81B industrial company. Revenue grew 11.3% over the last year, it keeps 0¢ of every dollar of sales as profit, and its net debt equals ~3.4 years of free cash flow. It trades at 199.5× earnings.

Website: worthingtonsteel.com
Location: Columbus, OH
Employees: 5 400
Sector: Industrials
Founded: 1955

Share price · 3 years

$22.20 → $36.05+62.4%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $3.44B
Profit: keeps 0¢ of every $1 sold; $8.50M
Free cash flow: cash left after running the business; $80.0M
Net debt: debt minus cash on hand; $270M
P/E: years of profit in the price; 199.5
EPS: earnings per share, TTM; $0.17
Dividend: pays out 27% of profit · 44% of FCF; 1.93%
Shares: up 3% since 2022 — dilution; 50.8M
Volatility: beta vs the market — under 1 swings less; 2.31

Revenue, last 5 years

52-week range

Low $28.10$36.05High $48.69

Today's price is 39% of the way from the year's low to its high.

Valuation vs own history

P/E

15.1×

15%

P/S

0.5×

23%

EV/EBITDA

15.1×

P/B

1.5×

60%

FCF yield

4.4%

30%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Earnings

Oct 6, 2026EPS $0.57 vs est $0.70miss -19%

Insider activity · 90 days

-$8.00Knet selling

Purchases$0

Sales$8.00K

Insiders trading, last 14d0 buy · 1 sell

Standing in Industrials

Size$1.81Btop 96%
Revenue growth-2%top 79%
Net margin-1%top 98%
Return on equity-4%top 98%
P/E199.5×top 97%
Dividend yield1.93%top 23%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Valuation, Growth, Profitability and Moat lag behind.

Valuation42

P/E vs own history85th pct · 0/25
FCF yield4.4% · 12/25
P/S0.3x · 25/25
EV/EBITDA37.4x · 5/25

Growth25

Revenue CAGR-4.1% · 0/25
Net income CAGR-53.4% · 0/25
EPS CAGR ~5Y-53.8% · 0/25
Fwd implied growth1269.0% · 25/25

Profitability16

ROIC0.6% · 5/25
ROE-3.5% · 0/25
Net margin0.2% · 6/25
Operating margin0.1% · 5/25

Health58

Altman Z3.11 · 25/25
Current ratio1.81 · 18/25
Interest coverage1.9x · 3/25
Net cash / debtD/A 12% · 12/25

Quality80

Piotroski F5/9 · 15/25
Beneish M-3.13 · 25/25
FCF conversion66% · 15/25
Margin stabilityσ 1.6% · 25/25

Moat43

ROIC >12% years2/5 yrs · 6/25
Median gross margin11.7% · 0/25
FCF-positive years5/5 yrs · 25/25
Worst-year net marginworst 0.2% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

Oct 6, 2026Earnings
Missed EPS estimate by 19%
reported $0.57 vs $0.70 expected
2024Product
Worthington Steel's joint venture TWB Company, LLC licensed ArcelorMittal Tailored Blanks' patented…
2024Acquisition
Worthington Steel announced plans to acquire a 52% stake in Sitem SpA, a Trevi, Italy-based maker…
FY2022Financial
Profitable every year on record
5 consecutive profitable years in our data
FY2022Financial
Revenue already above $1B
$4.07B in first reported year
FY2022Financial
Positive free cash flow every year since
5-year streak
FY2022Financial
Best year on record
$180M net income
2021Acquisition
Worthington Industries acquired Chicago-based electrical steel company, Tempel Steel
1992Product
Worthington Industries launched a joint venture called the TWB Company, expanding into the tailor welded…
1971Acquisition
With the acquisition of a pressure cylinder business, The Worthington Steel Company name changed to…
1968Milestone
The Worthington Steel Company became a publicly traded company in 1968 through the National Association of…
Jun 3, 1955Founded
Worthington Steel was founded by John H

Achievements

Verifiable track record, straight from the reported numbers.

$3.4B revenue in FY2026

Revenue up 11.3% year over year

Profitable 5 years in a row

Positive free cash flow 5 years in a row

5 400 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 11.3% year over year
Altman Z-Score 3.11 — low bankruptcy-risk zone

Watch-outs

Thin interest coverage (1.9×)

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+11.3% YoY
Profitable — makes more than it spends$8.50M TTM
Profit growing — earnings are higher than last year-54.2% YoY
Generates cash — cash left after running and investing$80.0M TTM
Debt under control — could handle its obligations~3.4y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$1.81B market cap
Not printing shares — share count not ballooning — you keep your slice+3.0% shares over ~5y
Proven track record — years of profitability behind it5/5 profitable years
Financially stable — balance sheet not near distressAltman Z 3.1 — safe
Pays a dividend — returns cash to shareholdersyield 1.93%
Valuation not extreme — price not wildly above earningsP/E 199.5

Peer comparisonWorthington Steel, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
WS this company	$1.8B	199.5	+11.3%	0.2%	Mixed
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: WS vs LRCX · WS vs CAT · WS vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 3Buy 5Hold 2

Appendix · Financial records

The full statements behind this CV, FY2022–FY2026. For readers who want to check the numbers.

Profit & lossRevenue $3.44B · net income $8.50M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2026 revenue flows to profit

RevenueNet income

Revenue (TTM)

$3.44B

YoY 11.3%

Net income (TTM)

$8.50M

Margin 0.2%

Gross margin

10.4%

Operating margin

0.1%

P/E ratio

199.5

Dividend yield

1.93%

Income statement — full detail

Figures in USD billions · EPS in USD

	2022	2023	2024	2025	2026
Revenue	4.1	3.6	3.4	3.1	3.4
Gross profit	0.4	0.3	0.4	0.4	0.4
Operating income (EBIT)	0.2	0.1	0.2	0.1	0.1
Net income	0.2	0.1	0.2	0.1	0.0
EPS (diluted)	3.66	1.77	3.11	2.19	0.17

Cash flowFree cash flow $80.0M · operating cash flow $201M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$80.0M

Margin 2.3%

Operating cash flow (TTM)

$201M

FCF margin

2.4%

Cash flow statement — full detail

Figures in USD billions

	2022	2023	2024	2025	2026
Operating cash flow	0.0	0.3	0.2	0.2	0.2
Capital expenditure	-0.0	-0.0	-0.1	-0.1	-0.1
Free cash flow	0.0	0.3	0.1	0.1	0.1
FCF margin	0.1%	7.5%	2.8%	3.2%	2.3%

Balance sheetAssets $2.25B · net debt $270M (FY2026)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $2.25B of assets is financed

44%

56%

Liabilities $990M — borrowed moneyEquity $1.26B — owners' stake

Cash vs debt

Total debt $354M − cash $84.6M = net debt $270M

Cash on hand covers 24% of debt.

Altman Z-Score

3.11

Safe zone

Debt repayment

3.3 yrs

Years of free cash flow to clear net debt

Interest coverage

1.9x

EBIT ÷ interest expense

ROE

-3.5%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2022	2023	2024	2025	2026
Cash & equivalents	0.0	0.0	0.0	0.0	0.1
Total assets	2.1	1.8	1.9	2.0	2.3
Total liabilities	0.8	0.6	0.7	0.8	1.0
Total debt	0.2	0.1	0.1	0.2	0.4
Equity	1.3	1.2	1.0	1.1	1.3
Net debt	0.1	0.1	0.1	0.1	0.3

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of WS on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $36.05 · market cap $1.81B.