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Stock research / United States / WS · Steel Works, Blast Furnaces & Rolling & Finishing Mills · NYSE

Worthington Steel, Inc. (WS)

Results announcedQ1 FY2027quarter ended 31 August 2026, announced 7 October 2026

Revenue$2.7 billionup 212.4% on Q1 FY2026
Net income-$10 million
Diluted EPS-$0.20$0.72 a year earlier

From the company's results press release. The tables update when the 10-Q or 10-K is filed. Read the release

Compare with another name

Worthington Steel, Inc. (WS) reported revenue of $929 million for Q4 FY2026, the quarter ended 31 May 2026, up 11.6% on the same quarter a year earlier. Net income was -$58 million, and diluted earnings per share $-1.12. The figures are the company's own, from the 10-K it filed with the SEC on 30 July 2026.

Revenue$929 millionup 11.6%
Net income-$58 million
Diluted EPS$-1.12
QuarterQ4 FY2026ended 31 May 2026

Worthington Steel (WS) in brief

Worthington Steel (WS) reported revenue of $3.4 billion for fiscal 2026, the year ended 31 May 2026, up 11.3% on the year before.
Read moreNet income was $8 million and diluted earnings per share $0.17. Revenue was $3.1 billion in fiscal 2025, $3.4 billion in fiscal 2024, $3.6 billion in fiscal 2023 and $4.1 billion in fiscal 2022. Net income in the same years was $111 million, $155 million, $87 million and $180 million. Worthington Steel declared $0.64 a share in dividends over the last four quarters and had 50 million shares outstanding at the latest filed count. At 31 May 2026 it carried $257 million of debt and $85 million of cash. At the close of 9 October 2026 the market cap of Worthington Steel was $1.8 billion, 212.2 times its earnings over the last twelve months.

Ratios

From the filings

ROE0.8%
ROCE-0.1%
Operating margin-0.0%
Net margin0.2%
FCF margin2.3%
Interest cover-0.05
Debt to equity0.24
Cash conversion23.67
Share count, 1 year0.7%
Sales CAGR, 3 years-1.5%
Profit CAGR, 3 years-54.0%
EPS, TTM$0.17

At the close of 9 October 2026

Price$36.07
Market cap$1.8 billion
Stock P/E212.18
Price to book1.69
EV / EBITDA23.83
Dividend yield1.8%
Market cap / sales0.52
52-week high$48.69
52-week low$28.10
Price, 1 year17.6%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the total debt Worthington Steel, Inc. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
WSgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on WS

Filings25 in twelve months: 17 current reports (8-K), about 8 regulation FD disclosure; 5 results of operations; 5 other events; 5 material agreement; 3 new financial obligation
Planned insider sales4 Form 144 notices in twelve months, $2.4 million; latest 6 October 2026
Options tapeput/call 0.25 by open interest at the 9 October 2026 close; the straddle prices a 6.3% move to 16 October 2026
13F holders5 of the followed funds hold it; largest Geode Capital Management; 3 Schedule 13D or 13G filings in twelve months
Insider trading7 sales and 2 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest1.7 million shares short, 4.97 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *
Revenue906808806911834739687833873872770929
Cost of revenue777748686780734659606706758779694810
Gross profit12860.212013110080.081.212711593.276.1119
Gross margin14%7%15%14%12%11%12%15%13%11%10%13%
SG&A53.854.152.863.757.061.154.658.967.970.977.581.1
Operating income69.7-8.866.367.343.418.918.366.448.321.73.1-74.5
Operating margin8%-1%8%7%5%3%3%8%6%2%0%-8%
Interest expense0.50.22.92.42.62.11.41.02.92.72.120.7
Pre-tax income79.1-4.666.475.336.219.717.175.152.025.714.3-84.9
Tax rate21%n/a21%23%11%18%29%22%26%16%24%n/a
Net income58.5-6.049.053.228.412.813.855.736.818.810.4-57.5
Net margin6%-1%6%6%3%2%2%7%4%2%1%-6%
Diluted EPS$1.19-$0.12$0.98$1.06$0.56$0.25$0.27$1.10$0.72$0.37$0.20-$1.12
Operating cash flow-20.714044.735.654.668.053.853.9-6.399.363.344.9
Capital expenditure17.318.922.444.821.534.828.645.529.424.730.037.1
Free cash flow-38.012122.3-9.233.133.225.28.4-35.774.633.37.8
Dividends paid0.00.00.07.98.07.98.08.08.18.48.18.0
Shares outstanding49m49m49m49m49m49m50m50m50m50m50m50m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 5 fiscal years and the trailing twelve months

FY2022FY2023FY2024 †FY2025FY2026TTM
Revenue4,0693,6083,4313,0933,4443,444
Cost of revenue3,6733,2712,9912,7053,0403,040
Gross profit396336440389403403
Gross margin9.7%9.3%12.8%12.6%11.7%11.7%
Selling, general and administrative180201224232297297
Operating income227120194147-1.4-1.4
Operating margin5.6%3.3%5.7%4.8%-0.0%-0.0%
Interest expense3.03.06.07.128.428.4
Pre-tax income2541292161487.17.1
Income tax54.029.046.128.820.020.0
Effective tax rate21.2%22.5%21.3%19.4%281.7%281.7%
Net income18087.11551118.58.5
Net margin4.4%2.4%4.5%3.6%0.2%0.2%
Diluted EPS$3.66$1.77$3.11$2.19$0.17$0.17
Filing10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by region

FY2024FY2025FY2026Share
latest year
United States2,7522,4362,56174.4%
Canada39333139211.4%
Rest of World1051182838.2%
Mexico1812082086.0%
United StatesCanadaRest of WorldMexico
3,431FY20243,093FY20253,444FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2022FY2023FY2024 †FY2025FY2026TTM
Operating cash flow39.5315200230201201
Capital expenditure36.445.5103130121121
Free cash flow3.127096.199.980.080.0
Free cash flow margin0.1%7.5%2.8%3.2%2.3%2.3%
Cash from investing-395-22.2-123-129-213-213
Cash from financing358-280-68.8-48.53.03.0
Depreciation and amortisation59.569.665.366.084.284.2
Share-based compensation8.710.410.311.013.913.9
Dividends paid0.00.07.931.932.632.6
Dividend per sharen/an/a$0.32$0.64$0.64n/a
Diluted shares, weighted49m49m50m50m51m51m
Shares outstanding at period endn/a10049m50m50m50m
Filing10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2022FY2023FY2024 †FY2025FY2026TTM
Funded by
Shareholders' equity1,2661,0299851,0741,0631,063
Non-controlling interestn/a126132124134134
Redeemable equityn/an/an/a0.065.365.3
Debtn/a22.8148152257257
Operating lease liabilitiesn/a71.768.368.778.778.7
Finance lease liabilitiesn/an/an/a0.05.55.5
Other liabilitiesn/a515533544648648
Total liabilities and equityn/a1,7641,8661,9622,2522,252
Owned
Fixed assetsn/a414475548649649
Goodwill80.078.679.679.644.544.5
Intangible assetsn/a83.477.067.977.377.3
Cash and equivalents20.132.740.238.084.684.6
Receivablesn/a468473439496496
Inventoryn/a415405422416416
Other assetsn/a272317367485485
Total assetsn/a1,7641,8661,9622,2522,252
Filing10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/an/a-1.5%11.3%
Profit growth, compoundedn/an/a-54.0%-92.3%
Return on equity, averagen/a9.9%8.9%0.8%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Worthington Steel's revenue in fiscal 2026?

Worthington Steel (WS) reported revenue of $3.4 billion for fiscal 2026, the year ended 31 May 2026, up 11.3% on the year before.

How much did Worthington Steel earn in fiscal 2026?

Net income was $8 million for fiscal 2026, and diluted earnings per share $0.17.

What is Worthington Steel's P/E ratio?

At the close of 9 October 2026, Worthington Steel traded at 212.2 times its earnings over the twelve months to 31 May 2026.

What is Worthington Steel's market cap?

The market cap of Worthington Steel was $1.8 billion at the close of 9 October 2026.

Does Worthington Steel pay a dividend?

Yes. Worthington Steel declared $0.64 a share in dividends over the four quarters to 31 May 2026.

Peers: Steel Works Etc

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Mueller Industries Inc. MLI$13.4 billion15.8024.0%23.0%14.8%0.000.8%
Alcoa Corp. AA$11.1 billion8.7717.3%n/a6.5%0.300.2%
Commercial Metals Co. CMC$7.1 billion12.0313.1%7.6%15.2%0.711.1%
Belden Inc. BDC$4.3 billion17.7617.6%11.9%9.4%0.890.2%
Century Aluminum Co. CENX$3.6 billion6.3543.0%n/a9.7%0.34n/a
Worthington Enterprises, Inc. WOR$3.1 billion18.8515.6%5.6%18.4%0.291.2%
Kaiser Aluminum Corp. KALU$2.5 billionn/an/a8.2%32.8%1.102.0%
Worthington Steel, Inc. WS$1.8 billion212.180.8%-0.0%11.3%0.241.8%
Gibraltar Industries, Inc. ROCK$1.3 billionn/an/an/an/a1.37n/a
Quanex Building Products Corp. NX$838 million18.476.1%6.0%1.3%0.851.7%
Metallus Inc. MTUS$828 million105.161.2%n/a16.1%0.000.0%
Matthews International Corp. MATW$581 millionn/a-6.0%6.3%-31.8%1.155.4%
All 19 in Steel Works Etc
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Corning Inc. GLW$134.9 billion71.5215.1%15.3%19.4%0.620.7%
Howmet Aerospace Inc. HWM$90.1 billion48.5432.6%27.4%18.1%0.790.3%
Nucor Corp. NUE$56.8 billion19.9713.0%n/a17.2%0.290.9%
Steel Dynamics Inc. STLD$34.2 billion21.6217.1%10.0%19.8%0.450.8%
ATI Inc. ATI$26.1 billion56.2225.4%15.2%4.6%0.960.0%
Carpenter Technology Corp. CRS$19.1 billion36.6623.8%22.5%8.6%0.310.2%
POSCO Holdings Inc. PKX *$17.4 billion33.871.2%2.1%-6.1%0.513.7%
Mueller Industries Inc. MLI$13.4 billion15.8024.0%23.0%14.8%0.000.8%
Alcoa Corp. AA$11.1 billion8.7717.3%n/a6.5%0.300.2%
Commercial Metals Co. CMC$7.1 billion12.0313.1%7.6%15.2%0.711.1%
Belden Inc. BDC$4.3 billion17.7617.6%11.9%9.4%0.890.2%
Century Aluminum Co. CENX$3.6 billion6.3543.0%n/a9.7%0.34n/a
Worthington Enterprises, Inc. WOR$3.1 billion18.8515.6%5.6%18.4%0.291.2%
Kaiser Aluminum Corp. KALU$2.5 billionn/an/a8.2%32.8%1.102.0%
Worthington Steel, Inc. WS$1.8 billion212.180.8%-0.0%11.3%0.241.8%
Gibraltar Industries, Inc. ROCK$1.3 billionn/an/an/an/a1.37n/a
Quanex Building Products Corp. NX$838 million18.476.1%6.0%1.3%0.851.7%
Metallus Inc. MTUS$828 million105.161.2%n/a16.1%0.000.0%
Matthews International Corp. MATW$581 millionn/a-6.0%6.3%-31.8%1.155.4%
2 companies share its SEC industry code (Steel Works, Blast Furnaces & Rolling & Finishing Mills); the rest are the names nearest in size in its wider industry, Steel Works Etc, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-K31 May 202630 July 2026EDGAR
10-Q28 February 20269 April 2026EDGAR
10-Q30 November 20258 January 2026EDGAR
10-Q31 August 202510 October 2025EDGAR
10-K31 May 202529 July 2025EDGAR
10-Q28 February 202511 April 2025EDGAR
10-Q30 November 202413 January 2025EDGAR
10-Q31 August 202415 October 2024EDGAR
10-K31 May 20242 August 2024EDGAR
10-Q29 February 202412 April 2024EDGAR

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