Worthington Steel Financials
This page shows Worthington Steel (ws) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Worthington Steel has an operating margin of 4.8%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is down from 5.7% the prior year.
Worthington Steel's revenue declined 9.8% year-over-year, from $3.4B to $3.1B. This contraction results in a growth score of 17/100.
Worthington Steel carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Worthington Steel's current ratio of 1.66 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 29/100, which could limit financial flexibility.
Worthington Steel has a free cash flow margin of 3.2%, earning a moderate score of 33/100. The company generates positive cash flow after capital investments, but with room for improvement.
Worthington Steel's ROE of 10.3% shows moderate profitability relative to equity, earning a score of 34/100. This is down from 15.7% the prior year.
Worthington Steel scores 3.38, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Worthington Steel passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Worthington Steel generates $2.08 in operating cash flow ($230.3M OCF vs $110.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Worthington Steel earns $20.7 in operating income for every $1 of interest expense ($147.0M vs $7.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Worthington Steel generated $3.1B in revenue in fiscal year 2025. This represents a decrease of 9.8% from the prior year.
Worthington Steel's EBITDA was $213.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 18.0% from the prior year.
Worthington Steel reported $110.7M in net income in fiscal year 2025. This represents a decrease of 28.4% from the prior year.
Worthington Steel earned $2.19 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 29.6% from the prior year.
Cash & Balance Sheet
Worthington Steel generated $99.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 4.0% from the prior year.
Worthington Steel held $38.0M in cash against $2.3M in long-term debt as of fiscal year 2025.
Worthington Steel paid $0.64 per share in dividends in fiscal year 2025. This represents an increase of 100.0% from the prior year.
Worthington Steel had 51M shares outstanding in fiscal year 2025. This represents an increase of 1.0% from the prior year.
Margins & Returns
Worthington Steel's gross margin was 12.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
Worthington Steel's operating margin was 4.8% in fiscal year 2025, reflecting core business profitability. This is down 0.9 percentage points from the prior year.
Worthington Steel's net profit margin was 3.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.9 percentage points from the prior year.
Worthington Steel's ROE was 10.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.4 percentage points from the prior year.
Capital Allocation
Worthington Steel invested $130.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.1% from the prior year.
WS Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $871.9M-0.1% | $872.9M+4.8% | $832.9M+21.2% | $687.4M-7.0% | $739.0M-11.4% | $834.0M-8.5% | $911.0M+13.1% | $805.8M |
| Cost of Revenue | $778.7M+2.8% | $757.7M+7.3% | $705.9M+16.4% | $606.2M-8.0% | $659.0M-10.2% | $733.6M-5.9% | $780.0M+13.8% | $685.7M |
| Gross Profit | $93.2M-19.1% | $115.2M-9.3% | $127.0M+56.4% | $81.2M+1.5% | $80.0M-20.3% | $100.4M-23.4% | $131.0M+9.1% | $120.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $70.9M+4.4% | $67.9M+15.3% | $58.9M+7.9% | $54.6M-10.6% | $61.1M+7.2% | $57.0M-10.5% | $63.7M+20.6% | $52.8M |
| Operating Income | $21.7M-55.1% | $48.3M-27.3% | $66.4M+262.8% | $18.3M-3.2% | $18.9M-56.5% | $43.4M-35.5% | $67.3M+1.5% | $66.3M |
| Interest Expense | $2.7M-6.9% | $2.9M+190.0% | $1.0M-28.6% | $1.4M-33.3% | $2.1M-19.2% | $2.6M+8.3% | $2.4M-17.2% | $2.9M |
| Income Tax | $4.2M-68.7% | $13.4M-17.3% | $16.2M+224.0% | $5.0M+38.9% | $3.6M-10.0% | $4.0M-77.3% | $17.6M+25.7% | $14.0M |
| Net Income | $18.8M-48.9% | $36.8M-33.9% | $55.7M+303.6% | $13.8M+7.8% | $12.8M-54.9% | $28.4M-46.6% | $53.2M+8.6% | $49.0M |
| EPS (Diluted) | $0.37-48.6% | $0.72 | N/A | $0.27+8.0% | $0.25-55.4% | $0.56 | N/A | $0.98 |
WS Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.1B-4.2% | $2.2B+14.3% | $2.0B+9.0% | $1.8B+3.5% | $1.7B-4.9% | $1.8B-2.0% | $1.9B+0.9% | $1.8B |
| Current Assets | $1.1B-8.6% | $1.1B+9.5% | $1.0B+14.9% | $912.6M+6.4% | $857.4M-10.3% | $955.5M-4.6% | $1.0B-2.1% | $1.0B |
| Cash & Equivalents | $89.8M+14.7% | $78.3M+106.1% | $38.0M-40.0% | $63.3M+21.7% | $52.0M+44.4% | $36.0M-10.4% | $40.2M-33.9% | $60.8M |
| Inventory | $413.0M-13.7% | $478.5M+13.4% | $422.0M+23.3% | $342.3M-0.2% | $343.0M-12.5% | $392.1M-3.3% | $405.3M-0.7% | $408.2M |
| Accounts Receivable | $440.8M-10.1% | $490.3M+11.8% | $438.7M+6.0% | $413.8M+11.0% | $372.9M-15.9% | $443.4M-6.2% | $472.6M+0.8% | $468.8M |
| Goodwill | $101.5M-0.2% | $101.7M+27.8% | $79.6M+0.4% | $79.3M-0.3% | $79.5M-0.3% | $79.7M+0.1% | $79.6M-0.1% | $79.7M |
| Total Liabilities | $803.1M-12.0% | $912.4M+19.4% | $763.9M+16.3% | $656.6M+10.5% | $594.2M-13.4% | $686.2M-8.4% | $748.9M-3.8% | $778.7M |
| Current Liabilities | $584.9M-15.7% | $693.6M+9.8% | $631.5M+21.2% | $521.0M+11.4% | $467.7M-16.2% | $557.9M-9.8% | $618.4M-4.2% | $645.4M |
| Long-Term Debt | $41.7M-3.2% | $43.1M+1773.9% | $2.3M+4.5% | $2.2M | $0 | $0 | $0 | $0 |
| Total Equity | $1.1B+1.1% | $1.1B+2.9% | $1.1B+6.1% | $1.0B+0.1% | $1.0B+0.2% | $1.0B+2.4% | $985.3M+5.1% | $937.6M |
| Retained Earnings | $203.5M+5.7% | $192.5M+17.2% | $164.2M+40.9% | $116.5M+5.0% | $111.0M+4.4% | $106.3M+23.5% | $86.1M+110.5% | $40.9M |
WS Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $99.3M+1676.2% | -$6.3M-111.7% | $53.9M+0.2% | $53.8M-20.9% | $68.0M+24.5% | $54.6M+53.4% | $35.6M-20.4% | $44.7M |
| Capital Expenditures | $24.7M-16.0% | $29.4M-35.4% | $45.5M+59.1% | $28.6M-17.8% | $34.8M+61.9% | $21.5M-52.0% | $44.8M+100.0% | $22.4M |
| Free Cash Flow | $74.6M+309.0% | -$35.7M-525.0% | $8.4M-66.7% | $25.2M-24.1% | $33.2M+0.3% | $33.1M+459.8% | -$9.2M-141.3% | $22.3M |
| Investing Cash Flow | -$24.7M+16.6% | -$29.6M+34.7% | -$45.3M-58.4% | -$28.6M+15.1% | -$33.7M-56.7% | -$21.5M+51.6% | -$44.4M-98.2% | -$22.4M |
| Financing Cash Flow | -$62.9M-399.5% | $21.0M0.0% | $21.0M+251.1% | -$13.9M+24.0% | -$18.3M+50.9% | -$37.3M-216.1% | -$11.8M+93.3% | -$175.9M |
| Dividends Paid | $8.4M+3.7% | $8.1M+1.3% | $8.0M0.0% | $8.0M+1.3% | $7.9M-1.3% | $8.0M+1.3% | $7.9M | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
WS Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.7%-2.5pp | 13.2%-2.0pp | 15.3%+3.4pp | 11.8%+1.0pp | 10.8%-1.2pp | 12.0%-2.3pp | 14.4%-0.5pp | 14.9% |
| Operating Margin | 2.5%-3.0pp | 5.5%-2.4pp | 8.0%+5.3pp | 2.7%+0.1pp | 2.6%-2.6pp | 5.2%-2.2pp | 7.4%-0.8pp | 8.2% |
| Net Margin | 2.2%-2.1pp | 4.2%-2.5pp | 6.7%+4.7pp | 2.0%+0.3pp | 1.7%-1.7pp | 3.4%-2.4pp | 5.8%-0.2pp | 6.1% |
| Return on Equity | 1.7%-1.7pp | 3.3%-1.9pp | 5.2%+3.8pp | 1.4%+0.1pp | 1.3%-1.5pp | 2.8%-2.6pp | 5.4%+0.2pp | 5.2% |
| Return on Assets | 0.9%-0.8pp | 1.6%-1.2pp | 2.8%+2.1pp | 0.8%+0.0pp | 0.7%-0.8pp | 1.6%-1.3pp | 2.9%+0.2pp | 2.6% |
| Current Ratio | 1.80+0.1 | 1.660.0 | 1.66-0.1 | 1.75-0.1 | 1.83+0.1 | 1.71+0.1 | 1.62+0.0 | 1.58 |
| Debt-to-Equity | 0.040.0 | 0.04+0.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.00 |
| FCF Margin | 8.6%+12.7pp | -4.1%-5.1pp | 1.0%-2.7pp | 3.7%-0.8pp | 4.5%+0.5pp | 4.0%+5.0pp | -1.0%-3.8pp | 2.8% |
Similar Companies
Frequently Asked Questions
What is Worthington Steel's annual revenue?
Worthington Steel (ws) reported $3.1B in total revenue for fiscal year 2025. This represents a -9.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Worthington Steel's revenue growing?
Worthington Steel (ws) revenue declined by 9.8% year-over-year, from $3.4B to $3.1B in fiscal year 2025.
Is Worthington Steel profitable?
Yes, Worthington Steel (ws) reported a net income of $110.7M in fiscal year 2025, with a net profit margin of 3.6%.
What is Worthington Steel's EBITDA?
Worthington Steel (ws) had EBITDA of $213.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Worthington Steel have?
As of fiscal year 2025, Worthington Steel (ws) had $38.0M in cash and equivalents against $2.3M in long-term debt.
What is Worthington Steel's gross margin?
Worthington Steel (ws) had a gross margin of 12.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Worthington Steel's operating margin?
Worthington Steel (ws) had an operating margin of 4.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Worthington Steel's net profit margin?
Worthington Steel (ws) had a net profit margin of 3.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Worthington Steel pay dividends?
Yes, Worthington Steel (ws) paid $0.64 per share in dividends during fiscal year 2025.
What is Worthington Steel's return on equity (ROE)?
Worthington Steel (ws) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Worthington Steel's free cash flow?
Worthington Steel (ws) generated $99.9M in free cash flow during fiscal year 2025. This represents a 4.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Worthington Steel's operating cash flow?
Worthington Steel (ws) generated $230.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Worthington Steel's total assets?
Worthington Steel (ws) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Worthington Steel's capital expenditures?
Worthington Steel (ws) invested $130.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Worthington Steel's current ratio?
Worthington Steel (ws) had a current ratio of 1.66 as of fiscal year 2025, which is generally considered healthy.
What is Worthington Steel's debt-to-equity ratio?
Worthington Steel (ws) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Worthington Steel's return on assets (ROA)?
Worthington Steel (ws) had a return on assets of 5.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Worthington Steel's Altman Z-Score?
Worthington Steel (ws) has an Altman Z-Score of 3.38, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Worthington Steel's Piotroski F-Score?
Worthington Steel (ws) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Worthington Steel's earnings high quality?
Worthington Steel (ws) has an earnings quality ratio of 2.08x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Worthington Steel cover its interest payments?
Worthington Steel (ws) has an interest coverage ratio of 20.7x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Worthington Steel?
Worthington Steel (ws) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.