WS

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Worthington Steel, Inc.

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Key Metrics

Previous Close: $36.33
52-Week Range: $27.22 – $49.17
Market Cap: $1.88B
P/E (TTM): 217.47
EPS (TTM): 0.17
Dividend Yield: 1.73%

Advanced Metrics

Price/Book: 1.74
PEG Ratio: —
Return on Equity: -1.05%
Return on Assets: 4.31%
Gross Margin: 11.71%
Operating Margin: 5.79%
Profit Margin: 0.25%
Current Ratio: 1.46
Debt/Equity: 0.28
Total Debt: $354.30M
Free Cash Flow: $90.72M
Revenue Growth: 11.60%
Earnings Growth: —
Enterprise Value: $2.35B

WS Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$3.61B	$3.43B	$3.09B	$3.44B
Cost of Revenue	$3.27B	$2.99B	$2.70B	$3.04B
Gross Profit	$336.50M	$439.80M	$388.60M	$403.30M
Selling, General & Admin	$200.80M	$224.40M	$231.60M	$297.40M
Operating Expenses	$200.80M	$224.40M	$231.60M	$297.40M
Operating Income	$135.70M	$215.40M	$157.00M	$105.90M
EBITDA	$201.30M	$287.50M	$221.20M	$119.70M
Pretax Income	$128.70M	$216.20M	$148.10M	$7.10M
Income Tax	$29.00M	$46.10M	$28.80M	$20.00M
Net Income	$87.10M	$154.70M	$110.70M	$8.50M
Diluted EPS	1.74	3.11	2.19	0.17
Diluted Shares	50.03M	49.80M	50.50M	50.80M

WS Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$32.70M	$40.20M	$38.00M	$84.60M
Receivables	$472.30M	$476.80M	$438.80M	$510.50M
Inventory	$414.80M	$405.30M	$422.00M	$415.70M
Current Assets	$980.90M	$1.00B	$1.05B	$1.13B
Total Assets	$1.76B	$1.87B	$1.96B	$2.25B
Current Liabilities	$478.40M	$618.40M	$631.50M	$775.80M
Long-Term Debt	—	—	$2.30M	$44.40M
Total Debt	$100.40M	$223.90M	$227.90M	$354.30M
Total Liabilities	$609.80M	$748.90M	$763.90M	$989.50M
Retained Earnings	$0.00	$86.10M	$164.20M	$140.00M
Shareholders' Equity	$1.03B	$985.30M	$1.07B	$1.06B
Working Capital	$502.50M	$383.40M	$417.00M	$354.10M
Net Debt	—	$107.80M	$113.50M	$172.20M

WS Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$315.00M	$199.50M	$230.30M	$201.20M
Capital Expenditure	-$45.50M	-$103.40M	-$130.40M	-$121.20M
Free Cash Flow	$269.50M	$96.10M	$99.90M	$80.00M
Depreciation & Amortisation	$69.60M	$65.30M	$66.00M	$84.20M
Stock-Based Compensation	$10.40M	$10.30M	$11.00M	$13.90M
Investing Cash Flow	-$22.20M	-$123.20M	-$129.10M	-$213.40M
Financing Cash Flow	-$280.20M	-$68.80M	-$48.50M	$3.00M
Dividends Paid	$0.00	-$157.90M	-$31.90M	-$32.60M
Share Repurchases	—	—	-$3.10M	—
Net Change in Cash	$12.60M	$7.50M	$52.70M	-$9.20M

WS Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$832.90M	$872.90M	$871.90M	$769.80M	$929.20M
Cost of Revenue	$705.90M	$757.70M	$778.70M	$693.70M	$810.40M
Gross Profit	$127.00M	$115.20M	$93.20M	$76.10M	$118.80M
Selling, General & Admin	$58.90M	$67.90M	$70.90M	$77.50M	$81.10M
Operating Expenses	$58.90M	$67.90M	$70.90M	$77.50M	$81.10M
Operating Income	$68.10M	$47.30M	$22.30M	-$1.40M	$37.70M
EBITDA	$93.00M	$75.20M	$50.10M	$38.00M	-$43.60M
Pretax Income	$75.10M	$52.00M	$25.70M	$14.30M	-$84.90M
Income Tax	$16.20M	$13.40M	$4.20M	$3.50M	-$1.10M
Net Income	$55.70M	$36.80M	$18.80M	$10.40M	-$57.50M
Diluted EPS	1.10	0.72	0.37	0.20	-0.98
Diluted Shares	50.50M	50.60M	50.70M	50.90M	49.90M

WS Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$38.00M	$78.30M	$89.80M	$90.00M	$84.60M
Receivables	$438.80M	$491.90M	$445.60M	$464.30M	$510.50M
Inventory	$422.00M	$478.50M	$413.00M	$435.60M	$415.70M
Current Assets	$1.05B	$1.15B	$1.05B	$1.11B	$1.13B
Total Assets	$1.96B	$2.24B	$2.15B	$2.32B	$2.25B
Current Liabilities	$631.50M	$693.60M	$584.90M	$745.60M	$775.80M
Long-Term Debt	$2.30M	$43.10M	$41.70M	$31.60M	$44.40M
Total Debt	$227.90M	$333.30M	$278.80M	$352.60M	$354.30M
Total Liabilities	$763.90M	$912.40M	$803.10M	$958.10M	$989.50M
Retained Earnings	$164.20M	$192.50M	$203.50M	$205.70M	$140.00M
Shareholders' Equity	$1.07B	$1.10B	$1.12B	$1.12B	$1.06B
Working Capital	$417.00M	$454.90M	$465.40M	$360.90M	$354.10M
Net Debt	$113.50M	$155.10M	$92.30M	$161.40M	$172.20M

WS Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$53.90M	-$6.30M	$99.30M	$63.30M	$44.90M
Capital Expenditure	-$45.50M	-$29.40M	-$24.70M	-$30.00M	-$37.10M
Free Cash Flow	$8.40M	-$35.70M	$74.60M	$33.30M	$7.80M
Depreciation & Amortisation	$16.90M	$20.30M	$21.70M	$21.60M	$20.60M
Stock-Based Compensation	$2.90M	$7.40M	$4.00M	$400.00K	$2.10M
Investing Cash Flow	-$45.30M	-$29.60M	-$24.70M	-$115.80M	-$43.30M
Financing Cash Flow	$21.00M	$21.00M	-$62.90M	$52.90M	-$8.00M
Dividends Paid	-$8.00M	-$8.10M	-$8.40M	-$8.10M	-$8.00M
Share Repurchases	-$200.00K	-$1.60M	-$3.20M	—	—
Net Change in Cash	$29.60M	-$14.90M	$11.70M	$400.00K	-$6.40M

Market Snapshot

About

Worthington Steel, Inc. is a steel processing company that provides value-added steel processing services and manufactured metal products to the automotive, construction, and heavy-duty truck markets. The company was spun off from Worthington Industries in 2023 and operates steel processing facilities across North America.