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Worthington Steel, Inc.(WS)Earnings, Financials & Key Ratios
WS•NYSE
$40.27
$2B mkt cap·18.4× P/E·Price updated May 6, 2026
AboutWorthington Steel, Inc. operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy. Worthington Steel, Inc. was incorporated in 2023 and is based in Columbus, Ohio.Show more
- Revenue$3.09B-9.8%
- EBITDA$213M-18.0%
- Net Income$111M-28.4%
- EPS (Diluted)2.19-29.6%
- Gross Margin12.56%-2.0%
- EBITDA Margin6.89%-9.1%
- Operating Margin4.75%-16.2%
- Net Margin3.58%-20.6%
- ROE9.56%-29.8%
- ROIC8.18%-29.1%
- Debt/Equity0.19-8.2%
- Interest Coverage20.70-36.1%
WS Key Insights
Worthington Steel, Inc. (WS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Efficient asset utilization: 1.6x turnover
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
WS Price & Volume
Worthington Steel, Inc. (WS) stock price & volume — 10-year historical chart
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WS Growth Metrics
Worthington Steel, Inc. (WS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-8.73%
TTM-0.75%
Profit CAGR
10 Years-
5 Years-
3 Years-15.02%
TTM-13.11%
EPS CAGR
10 Years-
5 Years-
3 Years-15.35%
TTM-14.24%
Return on Capital
10 Years16.24%
5 Years16.24%
3 Years11.88%
Last Year11.4%
WS Recent Earnings
Worthington Steel, Inc. (WS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (50%)●Beat Revenue 7/12 qtrs (70%)
Q2 2026Latest
Mar 25, 2026EPS
$0.27
Est $0.47
-42.6%
Revenue
$770M
Est $883M
-12.8%
Q4 2025
Dec 17, 2025EPS
$0.38
Est $0.39
-2.6%
Revenue
$872M
Est $802M
+8.7%
Q4 2025
Sep 24, 2025EPS
$0.77
Est $0.74
+4.1%
Revenue
$873M
Est $785M
+11.2%
Q3 2025
Jun 25, 2025EPS
$1.05
Est $0.83
+26.5%
Revenue
$833M
Est $725M
+14.9%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 25, 2026 | $0.27vs $0.47-42.6% | $770Mvs $883M-12.8% |
| Q4 2025 | Dec 17, 2025 | $0.38vs $0.39-2.6% | $872Mvs $802M+8.7% |
| Q4 2025 | Sep 24, 2025 | $0.77vs $0.74+4.1% | $873Mvs $785M+11.2% |
| Q3 2025 | Jun 25, 2025 | $1.05vs $0.83+26.5% | $833Mvs $725M+14.9% |
Based on last 12 quarters of dataView full earnings history →
WS Peer Comparison
Worthington Steel, Inc. (WS) competitors in Steel Service Centers and Processing — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 STLD | 34.4B | 237.46 | 29.72 | 3.63% | 7.22% | 15.29% | 1.46% | 0.47 |
 NUE | 52.86B | 232.07 | 30.86 | 5.73% | 6.82% | 10.58% | 0.32 | |
 RS | 19.01B | 372.04 | 26.61 | 3.32% | 5.43% | 11.17% | 2.64% | 0.28 |
 CMC | 7.75B | 69.79 | 94.31 | -1.61% | 5.46% | 10.15% | 4.03% | 0.32 |
 CLF | 6.07B | 10.65 | -3.55 | -3% | -7.94% | -23.38% | 1.15 | |
 ZEUS | 532.97M | 47.86 | 24.29 | -10.03% | 0.73% | 2.39% | 0.79% | 0.55 |
 MTUS | 804.56M | 19.28 | -674.13 | 6.85% | 0.24% | 0.42% | 0.02 | |
 SXC | 602.39M | 7.10 | -13.65 | -5.07% | -3.55% | -9.88% | 7.02% | 1.09 |
Compare WS vs Peers
Worthington Steel, Inc. (WS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
WS Income Statement
Worthington Steel, Inc. (WS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 2.13B | 4.07B | 3.61B | 3.43B | 3.09B | 3.27B |
| Revenue Growth % | - | 91.26% | -11.33% | -4.91% | -9.83% | -0.75% |
| Cost of Goods Sold | 1.76B | 3.67B | 3.27B | 2.99B | 2.7B | 2.85B |
| COGS % of Revenue | 82.57% | 90.28% | 90.67% | 87.18% | 87.44% | - |
| Gross Profit | 370.84M▲ 0% | 395.5M▲ 6.6% | 336.5M▼ 14.9% | 439.8M▲ 30.7% | 388.6M▼ 11.6% | 416.6M▲ 0% |
| Gross Margin % | 17.43% | 9.72% | 9.33% | 12.82% | 12.56% | 12.76% |
| Gross Profit Growth % | - | 6.65% | -14.92% | 30.7% | -11.64% | - |
| Operating Expenses | 149.32M | 168.9M | 216.2M | 245.3M | 241.6M | 261.3M |
| OpEx % of Revenue | 7.02% | 4.15% | 5.99% | 7.15% | 7.81% | - |
| Selling, General & Admin | 147.44M | 180.3M | 200.8M | 224.4M | 231.6M | 252.3M |
| SG&A % of Revenue | 6.93% | 4.43% | 5.57% | 6.54% | 7.49% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 1.88M | -11.4M | 15.4M | 20.9M | 10M | 1000K |
| Operating Income | 221.52M▲ 0% | 226.6M▲ 2.3% | 120.3M▼ 46.9% | 194.5M▲ 61.7% | 147M▼ 24.4% | 155.3M▲ 0% |
| Operating Margin % | 10.41% | 5.57% | 3.33% | 5.67% | 4.75% | 4.76% |
| Operating Income Growth % | - | 2.29% | -46.91% | 61.68% | -24.42% | - |
| EBITDA | 266.47M | 286.1M | 189.9M | 259.8M | 213M | 230.8M |
| EBITDA Margin % | 12.53% | 7.03% | 5.26% | 7.57% | 6.89% | 7.07% |
| EBITDA Growth % | - | 7.37% | -33.62% | 36.81% | -18.01% | -11.37% |
| D&A (Non-Cash Add-back) | 44.95M | 59.5M | 69.6M | 65.3M | 66M | 75.5M |
| EBIT | 223.41M | 257.3M | 131.7M | 222.2M | 155.2M | 177.9M |
| Net Interest Income | 12K | -3M | -3M | -6M | -7.1M | -8M |
| Interest Income | 12K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 3M | 3M | 6M | 7.1M | 8M |
| Other Income/Expense | 15.63M | 27.7M | 8.4M | 21.7M | 1.1M | 14.6M |
| Pretax Income | 237.15M▲ 0% | 254.3M▲ 7.2% | 128.7M▼ 49.4% | 216.2M▲ 68.0% | 148.1M▼ 31.5% | 169.9M▲ 0% |
| Pretax Margin % | 11.15% | 6.25% | 3.57% | 6.3% | 4.79% | 5.2% |
| Income Tax | 48.48M | 54M | 29M | 46.1M | 28.8M | 38.8M |
| Effective Tax Rate % | 20.44% | 21.23% | 22.53% | 21.32% | 19.45% | 22.84% |
| Net Income | 171.01M▲ 0% | 180.4M▲ 5.5% | 87.1M▼ 51.7% | 154.7M▲ 77.6% | 110.7M▼ 28.4% | 124.6M▲ 0% |
| Net Margin % | 8.04% | 4.43% | 2.41% | 4.51% | 3.58% | 3.82% |
| Net Income Growth % | - | 5.49% | -51.72% | 77.61% | -28.44% | -13.11% |
| Net Income (Continuing) | 188.67M | 200.3M | 99.7M | 170.1M | 119.3M | 131.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 153.5M | 133.21M | 125.62M | 132.2M | 123.8M | 229.8M |
| EPS (Diluted) | 3.42▲ 0% | 3.61▲ 5.6% | 1.69▼ 53.2% | 3.11▲ 84.0% | 2.19▼ 29.6% | 2.51▲ 0% |
| EPS Growth % | - | 5.56% | -53.19% | 84.02% | -29.58% | -14.24% |
| EPS (Basic) | 3.42 | 3.61 | 1.69 | 3.14 | 2.24 | - |
| Diluted Shares Outstanding | 50.03M | 50.03M | 50.03M | 49.8M | 49.5M | 49.7M |
| Basic Shares Outstanding | 50.03M | 50.03M | 50.03M | 49.3M | 49.5M | 49.7M |
| Dividend Payout Ratio | - | - | - | 5.11% | 28.82% | - |
WS Balance Sheet
Worthington Steel, Inc. (WS) balance sheet — assets, liabilities & shareholders' equity
| Line item | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 940.12M | 1.27B | 980.89M | 1B | 1.05B | 1.05B |
| Cash & Short-Term Investments | 17.46M | 20.05M | 32.68M | 40.2M | 38M | 89.8M |
| Cash Only | 17.46M | 20.05M | 32.68M | 40.2M | 38M | 89.8M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 405.05M | 600.42M | 465.8M | 476.8M | 438.8M | 445.6M |
| Days Sales Outstanding | 69.49 | 53.86 | 47.13 | 50.73 | 51.78 | 50.22 |
| Inventory | 442.93M | 569.5M | 414.75M | 405.3M | 422M | 413M |
| Days Inventory Outstanding | 92.04 | 56.59 | 46.28 | 49.46 | 56.95 | 24.2 |
| Other Current Assets | 33.57M | 16.19M | 9.9M | 79.5M | 149.7M | 101.9M |
| Total Non-Current Assets | 426.53M | 816.93M | 783.48M | 864.6M | 913.3M | 1.1B |
| Property, Plant & Equipment | 283.58M | 511.06M | 489.66M | 547.7M | 620.8M | 757.5M |
| Fixed Asset Turnover | 7.50x | 7.96x | 7.37x | 6.26x | 4.98x | 9.69x |
| Goodwill | 20.22M | 80.03M | 78.64M | 79.6M | 79.6M | 101.5M |
| Intangible Assets | 17.4M | 89.72M | 83.37M | 77M | 67.9M | 88.3M |
| Long-Term Investments | 92.04M | 119.33M | 114.55M | 135M | 126.6M | 516M |
| Other Non-Current Assets | 11.59M | 12.79M | 10.98M | 16.8M | 7M | 1.43B |
| Total Assets | 1.37B▲ 0% | 2.08B▲ 52.5% | 1.76B▼ 15.3% | 1.87B▲ 5.8% | 1.96B▲ 5.1% | 2.15B▲ 0% |
| Asset Turnover | 1.56x | 1.95x | 2.04x | 1.84x | 1.58x | 1.60x |
| Asset Growth % | - | 52.49% | -15.34% | 5.78% | 5.11% | 48.68% |
| Total Current Liabilities | 506.1M | 657.95M | 478.39M | 618.4M | 631.5M | 584.9M |
| Accounts Payable | 452.26M | 524.12M | 392.5M | 380.4M | 402.5M | 339.2M |
| Days Payables Outstanding | 93.98 | 52.08 | 43.8 | 46.42 | 54.32 | 46.59 |
| Short-Term Debt | 0 | 63M | 22.8M | 155.6M | 149.2M | 153.1M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 41.66M | 37.74M | 25.3M | 59.1M | 24.6M | 37.6M |
| Current Ratio | 1.86x | 1.93x | 2.05x | 1.62x | 1.66x | 1.66x |
| Quick Ratio | 0.98x | 1.06x | 1.18x | 0.96x | 0.99x | 0.99x |
| Cash Conversion Cycle | 67.56 | 58.37 | 49.61 | 53.77 | 54.41 | 27.83 |
| Total Non-Current Liabilities | 45.72M | 159.72M | 131.4M | 130.5M | 132.4M | 218.2M |
| Long-Term Debt | 0 | 20M | 0 | 0 | 2.3M | 41.7M |
| Capital Lease Obligations | 5.18M | 65.26M | 71.7M | 68.3M | 68.7M | 309.2M |
| Deferred Tax Liabilities | 34.06M | 0 | 26.1M | 27.9M | 28.6M | 137.4M |
| Other Non-Current Liabilities | 6.48M | 74.45M | 33.6M | 34.3M | 32.8M | 169.1M |
| Total Liabilities | 551.82M | 817.66M | 609.79M | 748.9M | 763.9M | 803.1M |
| Total Debt | 8.11M | 153.9M | 100.39M | 231.5M | 227.9M | 278.8M |
| Net Debt | -9.35M | 133.85M | 67.72M | 191.3M | 189.9M | 189M |
| Debt / Equity | 0.01x | 0.12x | 0.09x | 0.21x | 0.19x | 0.19x |
| Debt / EBITDA | 0.03x | 0.54x | 0.53x | 0.89x | 1.07x | 1.21x |
| Net Debt / EBITDA | -0.04x | 0.47x | 0.36x | 0.74x | 0.89x | 0.89x |
| Interest Coverage | - | 75.53x | 40.10x | 32.42x | 20.70x | 22.24x |
| Total Equity | 814.83M▲ 0% | 1.27B▲ 55.4% | 1.15B▼ 8.8% | 1.12B▼ 3.2% | 1.2B▲ 7.2% | 1.35B▲ 0% |
| Equity Growth % | - | 55.41% | -8.83% | -3.21% | 7.19% | 48.04% |
| Book Value per Share | 16.29 | 25.31 | 23.08 | 22.44 | 24.20 | 27.10 |
| Total Shareholders' Equity | 661.33M | 1.13B | 1.03B | 985.3M | 1.07B | 1.12B |
| Common Stock | 622.95M | 1.13B | 1.03B | 0 | 0 | 0 |
| Retained Earnings | 0 | 0 | 0 | 86.1M | 164.2M | 203.5M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 38.38M | 1.85M | -2.15M | -6.1M | -4M | -1.5M |
| Minority Interest | 153.5M | 133.21M | 125.62M | 132.2M | 123.8M | 229.8M |
WS Cash Flow Statement
Worthington Steel, Inc. (WS) cash flow — operating, investing & free cash flow history
| Line item | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | 152.55M | 39.49M | 315.01M | 199.5M | 230.3M | 230.3M |
| Operating CF Margin % | 7.17% | 0.97% | 8.73% | 5.82% | 7.45% | - |
| Operating CF Growth % | - | -74.11% | 697.68% | -36.67% | 15.44% | 6.72% |
| Net Income | 188.67M | 200.25M | 99.7M | 154.7M | 119.3M | 124.6M |
| Depreciation & Amortization | 44.95M | 59.5M | 69.58M | 65.3M | 66M | 75.5M |
| Stock-Based Compensation | 10.14M | 8.67M | 10.35M | 10.3M | 11M | 14.2M |
| Deferred Taxes | -5.19M | 13.64M | -9.72M | 1.1M | -3.1M | -1.7M |
| Other Non-Cash Items | -13.27M | -38.59M | 5.16M | -1.5M | 16.9M | 49.1M |
| Working Capital Changes | -72.75M | -203.98M | 139.93M | -30.4M | 20.2M | -66M |
| Change in Receivables | -195.05M | -121.98M | 107.19M | -1.4M | 34.1M | -25.8M |
| Change in Inventory | -178.38M | -50.67M | 154.53M | 16.4M | -16.7M | -29.5M |
| Change in Payables | 293.08M | -14.95M | -124.34M | -26.7M | 15.8M | -18.9M |
| Cash from Investing | -27.69M | -395.35M | -22.15M | -132M | -129.1M | -138.3M |
| Capital Expenditures | -28.8M | -36.44M | -45.47M | -103.4M | 0 | -45.5M |
| CapEx % of Revenue | 1.35% | 0.9% | 1.26% | 3.01% | 4.22% | - |
| Acquisitions | 925K | -383.52M | 0 | -28.6M | 0 | -11.5M |
| Investments | - | - | - | - | - | - |
| Other Investing | 186K | 24.62M | 23.32M | 0 | -129.1M | -81.3M |
| Cash from Financing | -116.68M | 358.45M | -280.23M | -60M | -48.5M | -24.7M |
| Debt Issued (Net) | 0 | 76.7M | -60.2M | 145.2M | 3.5M | 15.9M |
| Equity Issued (Net) | -1000K | 0 | 0 | 300K | -1000K | -3.2M |
| Dividends Paid | 0 | 0 | 0 | -7.9M | -31.9M | -32.5M |
| Share Repurchases | 0 | 0 | 0 | 0 | -3.1M | -2.8M |
| Other Financing | -10.69M | 281.75M | -220M | -197.6M | -17M | -1.9M |
| Net Change in Cash | 8.18M▲ 0% | 2.59M▼ 68.3% | 12.63M▲ 386.9% | 7.5M▼ 40.6% | 52.7M▲ 602.7% | 37.8M▲ 0% |
| Free Cash Flow | 123.75M▲ 0% | 3.05M▼ 97.5% | 269.54M▲ 8740.3% | 96.1M▼ 64.3% | 99.9M▲ 4.0% | 126.6M▲ 0% |
| FCF Margin % | 5.82% | 0.07% | 7.47% | 2.8% | 3.23% | 3.88% |
| FCF Growth % | - | -97.54% | 8740.31% | -64.35% | 3.95% | -6.71% |
| FCF per Share | 2.47 | 0.06 | 5.39 | 1.93 | 2.02 | 2.02 |
| FCF Conversion (FCF/Net Income) | 0.89x | 0.22x | 3.62x | 1.29x | 2.08x | 1.02x |
| Interest Paid | 0 | 0 | 0 | 4.5M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 37.6M | 0 | 0 |
WS Key Ratios
Worthington Steel, Inc. (WS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | 17.34% | 7.2% | 13.62% | 9.56% | 9.25% |
| Return on Invested Capital (ROIC) | 15.41% | 6.88% | 11.53% | 8.18% | 8.18% |
| Gross Margin | 9.72% | 9.33% | 12.82% | 12.56% | 12.76% |
| Net Margin | 4.43% | 2.41% | 4.51% | 3.58% | 3.82% |
| Debt / Equity | 0.12x | 0.09x | 0.21x | 0.19x | 0.19x |
| Interest Coverage | 75.53x | 40.10x | 32.42x | 20.70x | 22.24x |
| FCF Conversion | 0.22x | 3.62x | 1.29x | 2.08x | 1.02x |
| Revenue Growth | 91.26% | -11.33% | -4.91% | -9.83% | -0.75% |
WS SEC Filings & Documents
Worthington Steel, Inc. (WS) SEC filings — annual & quarterly reports (10-K, 10-Q)
WS Frequently Asked Questions
Worthington Steel, Inc. (WS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Worthington Steel, Inc. (WS) reported $3.27B in revenue for fiscal year 2025. This represents a 53% increase from $2.13B in 2021.
Worthington Steel, Inc. (WS) saw revenue decline by 9.8% over the past year.
Yes, Worthington Steel, Inc. (WS) is profitable, generating $124.6M in net income for fiscal year 2025 (3.6% net margin).
Dividend & Returns
Yes, Worthington Steel, Inc. (WS) pays a dividend with a yield of 1.60%. This makes it attractive for income-focused investors.
Worthington Steel, Inc. (WS) has a return on equity (ROE) of 9.6%. This is below average, suggesting room for improvement.
Worthington Steel, Inc. (WS) generated $126.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Explore More WS
Worthington Steel, Inc. (WS) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates