Worthington Enterprises (WOR)
Market Price (5/17/2026): $53.34 | Market Cap: $2.6 BilSector: Industrials | Industry: Building Products
Worthington Enterprises (WOR)
Market Price (5/17/2026): $53.34Market Cap: $2.6 BilSector: IndustrialsIndustry: Building Products
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, FCF Yield is 6.3% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% Low stock price volatilityVol 12M is 29% Megatrend and thematic driversMegatrends include Hydrogen Economy, Water Infrastructure, and Sustainable & Green Buildings. Themes include Hydrogen Infrastructure, Show more. | Weak multi-year price returns2Y Excs Rtn is -49%, 3Y Excs Rtn is -31% | Key risksWOR key risks include [1] competition from foreign manufacturers and the threat of non-compliant products, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, FCF Yield is 6.3% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Hydrogen Economy, Water Infrastructure, and Sustainable & Green Buildings. Themes include Hydrogen Infrastructure, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -49%, 3Y Excs Rtn is -31% |
| Key risksWOR key risks include [1] competition from foreign manufacturers and the threat of non-compliant products, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Positive Fiscal Q3 2026 Earnings Offset by Market Reaction. Worthington Enterprises reported strong fiscal third-quarter 2026 results on March 24, 2026, with adjusted earnings per share (EPS) of $0.98, surpassing the consensus estimate of $0.95. Quarterly revenue also increased 24.4% year-over-year to $378.7 million, exceeding the $349.41 million consensus. This marked the sixth consecutive quarter of year-over-year growth in adjusted EPS and EBITDA. However, the stock experienced a mild negative market reaction, declining 1.29% on the day the earnings were published, suggesting that the positive news might have been largely anticipated or was counteracted by other market dynamics.
2. Strategic Acquisition of LSI Group. The company completed the acquisition of LSI Group for approximately $205.0 million on January 16, 2026. This acquisition of a market-leading manufacturer of metal roof components contributed $32.2 million to net sales in the fiscal third quarter of 2026, bolstering the Building Products segment and supporting the company's growth and simplification strategy. This significant company-specific development likely provided underlying support for the stock, preventing a more substantial decline during the period.
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Stock Movement Drivers
Fundamental Drivers
The -3.6% change in WOR stock from 1/31/2026 to 5/16/2026 was primarily driven by a -8.7% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 55.35 | 53.38 | -3.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,254 | 1,328 | 5.9% |
| Net Income Margin (%) | 8.5% | 8.4% | -0.4% |
| P/E Multiple | 25.7 | 23.4 | -8.7% |
| Shares Outstanding (Mil) | 49 | 49 | 0.2% |
| Cumulative Contribution | -3.6% |
Market Drivers
1/31/2026 to 5/16/2026| Return | Correlation | |
|---|---|---|
| WOR | -3.6% | |
| Market (SPY) | 7.1% | 40.4% |
| Sector (XLI) | 3.9% | 59.1% |
Fundamental Drivers
The -4.1% change in WOR stock from 10/31/2025 to 5/16/2026 was primarily driven by a -8.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 55.68 | 53.38 | -4.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,200 | 1,328 | 10.6% |
| Net Income Margin (%) | 8.9% | 8.4% | -5.5% |
| P/E Multiple | 25.6 | 23.4 | -8.7% |
| Shares Outstanding (Mil) | 49 | 49 | 0.4% |
| Cumulative Contribution | -4.1% |
Market Drivers
10/31/2025 to 5/16/2026| Return | Correlation | |
|---|---|---|
| WOR | -4.1% | |
| Market (SPY) | 9.0% | 40.2% |
| Sector (XLI) | 11.2% | 57.1% |
Fundamental Drivers
The 6.8% change in WOR stock from 4/30/2025 to 5/16/2026 was primarily driven by a 61.0% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.97 | 53.38 | 6.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,155 | 1,328 | 15.0% |
| Net Income Margin (%) | 5.2% | 8.4% | 61.0% |
| P/E Multiple | 40.9 | 23.4 | -42.7% |
| Shares Outstanding (Mil) | 49 | 49 | 0.6% |
| Cumulative Contribution | 6.8% |
Market Drivers
4/30/2025 to 5/16/2026| Return | Correlation | |
|---|---|---|
| WOR | 6.8% | |
| Market (SPY) | 34.8% | 40.6% |
| Sector (XLI) | 32.4% | 54.8% |
Fundamental Drivers
The 41.7% change in WOR stock from 4/30/2023 to 5/16/2026 was primarily driven by a 164.8% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.66 | 53.38 | 41.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 518 | 1,328 | 156.4% |
| Net Income Margin (%) | 40.0% | 8.4% | -78.9% |
| P/E Multiple | 8.8 | 23.4 | 164.8% |
| Shares Outstanding (Mil) | 49 | 49 | -1.0% |
| Cumulative Contribution | 41.7% |
Market Drivers
4/30/2023 to 5/16/2026| Return | Correlation | |
|---|---|---|
| WOR | 41.7% | |
| Market (SPY) | 84.7% | 36.7% |
| Sector (XLI) | 79.2% | 48.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WOR Return | 8% | -7% | 78% | -29% | 30% | 8% | 79% |
| Peers Return | 23% | -32% | 32% | 19% | -22% | -1% | 3% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| WOR Win Rate | 58% | 33% | 67% | 33% | 67% | 80% | |
| Peers Win Rate | 62% | 37% | 48% | 55% | 48% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| WOR Max Drawdown | -34% | -38% | -23% | -42% | -23% | -20% | |
| Peers Max Drawdown | -21% | -47% | -32% | -25% | -44% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LII, MAS, FBIN, NWL, GTLS. See WOR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/15/2026 (YTD)
How Low Can It Go
| Event | WOR | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -19.7% | -9.5% |
| % Gain to Breakeven | 24.6% | 10.5% |
| Time to Breakeven | 42 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -12.7% | -6.7% |
| % Gain to Breakeven | 14.5% | 7.1% |
| Time to Breakeven | 6 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -29.6% | -24.5% |
| % Gain to Breakeven | 42.1% | 32.4% |
| Time to Breakeven | 41 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.7% | -33.7% |
| % Gain to Breakeven | 80.8% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.1% | -19.2% |
| % Gain to Breakeven | 26.8% | 23.8% |
| Time to Breakeven | 348 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.5% | -3.7% |
| % Gain to Breakeven | 13.0% | 3.9% |
| Time to Breakeven | 70 days | 6 days |
In The Past
Worthington Enterprises's stock fell -8.1% during the 2025 US Tariff Shock. Such a loss loss requires a 8.8% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | WOR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -29.6% | -24.5% |
| % Gain to Breakeven | 42.1% | 32.4% |
| Time to Breakeven | 41 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.7% | -33.7% |
| % Gain to Breakeven | 80.8% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.1% | -19.2% |
| % Gain to Breakeven | 26.8% | 23.8% |
| Time to Breakeven | 348 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -22.3% | -12.2% |
| % Gain to Breakeven | 28.6% | 13.9% |
| Time to Breakeven | 13 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -44.2% | -6.8% |
| % Gain to Breakeven | 79.2% | 7.3% |
| Time to Breakeven | 254 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -42.1% | -17.9% |
| % Gain to Breakeven | 72.7% | 21.8% |
| Time to Breakeven | 295 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -26.1% | -15.4% |
| % Gain to Breakeven | 35.3% | 18.2% |
| Time to Breakeven | 125 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -58.6% | -53.4% |
| % Gain to Breakeven | 141.4% | 114.4% |
| Time to Breakeven | 303 days | 1085 days |
In The Past
Worthington Enterprises's stock fell -8.1% during the 2025 US Tariff Shock. Such a loss loss requires a 8.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Worthington Enterprises (WOR)
AI Analysis | Feedback
1. It's like a smaller, more focused 3M, specializing in steel processing and manufacturing a wide range of industrial and consumer products.
2. Think of it as a blend of Reliance Steel & Aluminum Co. (for its steel processing) and Stanley Black & Decker (for its diverse manufactured goods and consumer brands).
AI Analysis | Feedback
- Steel Processing: Processes flat-rolled steel and provides toll processing services for various industrial customers.
- Consumer Products: Offers tools, outdoor living items, and celebration products under numerous brand names such as Coleman and Bernzomatic.
- Building Products: Supplies commercial and residential construction products, water systems, and heating and cooling solutions.
- Sustainable Energy Solutions: Provides on-board fueling systems, gas containment solutions, and services for industrial gases, hydrogen, and compressed natural gas.
AI Analysis | Feedback
nullAI Analysis | Feedback
- Nucor Corporation (NUE)
- Cleveland-Cliffs Inc. (CLF)
- United States Steel Corporation (X)
- Steel Dynamics, Inc. (STLD)
AI Analysis | Feedback
Joseph Hayek, President & Chief Executive Officer
Joseph Hayek became President and Chief Executive Officer of Worthington Enterprises on November 1, 2024. Prior to this, he served as Executive Vice President, Chief Financial and Operations Officer for Worthington Enterprises following the December 2023 separation of the Steel Processing business from Worthington Industries. From 2018 to 2023, Hayek was Vice President and Chief Financial Officer of Worthington Industries, where he helped guide the company through the COVID-19 pandemic to achieve record earnings and was instrumental in the strategic initiative to separate the organization into Worthington Enterprises and Worthington Steel. His prior roles at Worthington include Vice President and General Manager of the oil and gas equipment business (2017-2018) and Vice President of Mergers & Acquisitions and Corporate Development (2014-2017). Before joining Worthington, Hayek was president of PCM/Sarcom, an IT solutions provider and the largest subsidiary of PCM, Inc., where he also served as Executive Vice President of Corporate Development and Investor Relations from 2008 to 2012. He also spent ten years in investment banking with Raymond James and Wachovia.
Colin Souza, Vice President & Chief Financial Officer
Colin Souza was appointed Vice President and Chief Financial Officer of Worthington Enterprises, effective November 1, 2024. He joined the Company in 2011 and has held various finance and strategy positions throughout his tenure. Souza previously served as Vice President of Finance, where he oversaw financial planning and analysis, corporate development, mergers and acquisitions, and corporate strategy and innovation. In 2023, he led the project management office for the Worthington 2024 strategic initiative, which resulted in the separation of the Steel Processing business into two standalone public companies. He has played a key role in accelerating business growth and maximizing shareholder value through various acquisitions and divestitures, including the acquisition of HALO™-branded pizza ovens, Hexagon Ragasco composite cylinders, and the formation of the Sustainable Energy Solutions joint venture with Hexagon Composites.
Jimmy Bowes, President – Building Products
Jimmy Bowes serves as President of Building Products for Worthington Enterprises. In this role, he leads the segment that delivers solutions for commercial and residential construction markets, including heating and cooling offerings, water systems, ceiling solutions, and metal framing.
Steven M. Caravati, President - Consumer Products
Steven M. Caravati is the President of Consumer Products at Worthington Enterprises. His segment focuses on innovative products under various market-leading brands such as Balloon Time, Bernzomatic, Garden Weasel, General, HALO, Hawkeye, Level5 Tools, Mag-Torch, and Pactool International.
Patrick Kennedy, Vice President - General Counsel & Secretary
Patrick Kennedy holds the position of Vice President, General Counsel and Secretary at Worthington Enterprises.
AI Analysis | Feedback
Worthington Enterprises (WOR) faces several key risks to its business, primarily stemming from its current focus on Consumer Products and Building Products segments following the spin-off of its steel processing business in December 2023.
1. Macroeconomic Headwinds and Cyclical Demand
Worthington Enterprises is significantly exposed to prevailing macroeconomic conditions, which directly influence demand in both its Consumer Products and Building Products segments. High inflation, elevated interest rates, and a cautious consumer environment have collectively led to reduced market demand for various products and created uncertainty in construction-related spending, particularly in the residential sector. These economic challenges can impact consumers' discretionary spending for outdoor living and celebration products, as well as commercial and residential repair, remodeling, and new construction activities.
2. Supply Chain Disruptions and Cost Volatility
The company's profitability and operational efficiency are vulnerable to ongoing supply chain disruptions and fluctuations in raw material and energy costs. Issues such as logistics delays, shortages of raw materials, and rising transportation expenses continue to challenge operations across the consumer packaged goods (CPG) and construction industries. These factors, compounded by inflationary pressures and increased labor costs, can squeeze profit margins and make it difficult to forecast future demand and plan for growth.
3. Intense Competition and Evolving Consumer/Market Preferences
Worthington Enterprises operates in highly competitive markets across both its Consumer Products and Building Products segments. In the consumer sector, market competition is fierce, and the company must contend with shifting consumer preferences, including a growing demand for more value, healthier, and eco-friendly products. Consumers are increasingly unwilling to pay higher prices, leading to significant pushback from retailers against price increases. Similarly, the Building Products segment must adapt to competitive pricing pressures and evolving industry standards, while maintaining product quality and innovation to meet market expectations.
AI Analysis | Feedback
1. **Direct-to-Consumer (DTC) E-commerce and Brand Disruption in Consumer Products:** The increasing prevalence of digitally native, direct-to-consumer brands leveraging e-commerce platforms poses a significant threat to Worthington's established consumer brands (e.g., Coleman, Bernzomatic, Balloon Time). These agile DTC competitors can capture niche markets, offer specialized products, and build customer loyalty more rapidly and cost-effectively online, potentially eroding market share and brand relevance for traditional brands that rely on broader retail distribution. This shift in sales and marketing channels mirrors the disruption seen in other consumer-facing industries.
2. **Rapid Technological Obsolescence in Sustainable Energy Solutions:** The "hydrogen ecosystem" and broader alternative energy storage/transport sectors are nascent and evolving at an accelerated pace. Worthington's focus on "on-board fueling systems" and "gas containment solutions" for industrial gases, hydrogen, and compressed natural gas could face obsolescence if breakthrough technologies or superior, more cost-effective solutions emerge from competitors or new entrants. A fundamental shift in material science, storage methods, or dominant energy vectors (e.g., advanced batteries overshadowing hydrogen fuel cells in certain applications) could quickly diminish the market for their current offerings in this dynamic segment.
AI Analysis | Feedback
Worthington Enterprises (symbol: WOR) operates in diverse markets. The addressable market sizes for its main products and services are primarily in North America and globally:
Steel Processing
- The North America flat steel market was valued at USD 555.4 billion in 2023 and is projected to reach USD 939.8 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period. North America held the largest share of global flat steel market revenue in 2023, at 49.43%.
- The U.S. flat steel market was valued at USD 77.62 billion in 2022 and is projected to grow at a CAGR of 4.6% to reach USD 79.963 billion by 2030.
- The North America automotive steel market is estimated to reach USD 31.8 billion by 2031, with a CAGR of 3.1% from 2025 to 2031. The U.S. automotive steel market generated USD 15,154.0 million in revenue in 2024 and is expected to reach USD 20,564.9 million by 2030, growing at a CAGR of 5.2% from 2025 to 2030. Globally, the automotive steel market was valued at USD 112.93 billion in 2021 and is projected to expand to USD 173.2 billion by 2035.
Consumer Products
- The global outdoor living products market size was estimated at USD 158.61 billion in 2024 and is projected to grow to USD 228.44 billion by 2035, exhibiting a CAGR of 3.37% from 2025 to 2035. North America is the largest market for outdoor living products, accounting for approximately 45% of the global market share. The U.S. outdoor living product market was analyzed at USD 43 billion for 2021 and 2022, with a forecast of USD 41 billion in 2023.
- The North America gardening tools market size was valued at US$ 2.1 billion in 2025 and is projected to reach US$ 2.8 billion by 2032, with a CAGR of 3.8% between 2025 and 2032.
- The North America party supplies market is valued at USD 5 billion. Other reports indicate North America held a 41.2% market share, valued at USD 5.56 billion, and USD 6.14 billion in 2025. North America is the largest market for party supplies, accounting for approximately 45% of the global market share. The global party supplies market was valued at USD 13.5 billion in 2023 and is expected to reach USD 30.8 billion by 2033, at a CAGR of 8.6%.
Building Products
- The North America construction market is estimated to grow from USD 2.3 trillion in 2023 to around USD 3.53 trillion by 2031, at a CAGR of 5.3% from 2024 to 2031. Another estimate places the North America Construction Market size at USD 3.89 trillion in 2026, growing to USD 5.06 trillion by 2031, at a 5.42% CAGR. The North American residential construction market recorded revenues of USD 1,294,409 million in 2024.
- The North America building and construction sheets market generated a revenue of USD 35,786.3 million in 2024 and is expected to reach USD 49,894.9 million by 2030, with a CAGR of 5.7% from 2025 to 2030.
- The North America water treatment system market was valued at US$ 15,740.15 million in 2023 and is projected to reach US$ 24,241.49 million by 2031, registering a CAGR of 5.5% from 2023 to 2031. Specifically, the North America household water treatment system market was valued at USD 4,649.3 million in 2022 and is projected to exceed USD 8,755.1 million by 2032, growing at a CAGR of 6.5%. The North America point of entry water treatment systems market size was exhibited at USD 2.15 billion in 2023 and is projected to hit around USD 3.40 billion by 2033, growing at a CAGR of 4.7%.
- The North America HVAC services market size was estimated at USD 39.41 billion in 2024 and is projected to grow at a CAGR of 4.3% from 2025 to 2030. The North America HVAC systems market generated a revenue of USD 38,382.8 million in 2024 and is expected to reach USD 70,057.9 million by 2033, at a CAGR of 7% from 2025 to 2033. The North America HVAC equipment market size is expected to grow from USD 31.12 billion in 2025 to USD 48.66 billion by 2031, at a 7.93% CAGR.
Sustainable Energy Solutions
- The global industrial gases market size was valued at USD 118.9 billion in 2024 and is projected to reach USD 222.7 billion by 2033, growing at a CAGR of 6.7%. The North America industrial gases market holds a 21% global market share with a projected 4.5% CAGR through 2032.
- The global hydrogen fueling station market size was estimated at USD 832.5 million in 2024 and is projected to reach USD 3214.8 million by 2030, growing at a CAGR of 26.3% from 2025 to 2030. North America is reported as the largest market for hydrogen fueling stations, holding approximately 45% of the global market share.
- The global CNG filling station market size is estimated at USD 8 billion in 2023, with projections to reach USD 13 billion by 2030, growing at a CAGR of 7%. The Compressed Natural Gas Dispenser Market size is expected to grow from USD 290.75 million in 2025 to USD 492.61 million by 2031, at a 9.18% CAGR. The global natural gas refueling stations market (which includes CNG) is expected to be worth around USD 2.1 billion in 2024, reaching USD 4.1 billion by 2034, growing at a CAGR of 6.8%.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for Worthington Enterprises (WOR) over the next 2-3 years:- Strategic Acquisitions: Worthington Enterprises identifies acquisitions as a key component of its growth strategy, using it as one of its three primary growth drivers alongside innovation and transformation. Recent examples include the acquisition of Elgen Manufacturing, which contributed significantly to the Building Products segment's revenue, and the planned acquisition of LSI Group, set to bolster its commercial metal roof clips, accessories, and retrofit systems offerings. The acquisition of Hexagon Ragasco, a leader in lightweight LPG composite cylinders, also integrates into the Building Products segment and expands its market presence.
- Organic Growth in Building Products Segment: The Building Products segment has consistently been a strong performer, experiencing substantial sales growth driven by increased volumes. This growth is fueled by initiatives such as supporting the refrigerant industry's transition to more environmentally friendly refrigerants and enhancements in capacity and throughput for heating and cooking products.
- Innovation and New Product Development: Innovation is a foundational element of Worthington Enterprises' business system and a significant driver of future revenue. The company has seen success with new product launches like the Balloon Time Mini and A2L refrigerant cylinders, which are designed to capture new market share and attract new customers.
- Leveraging the Sustainable Energy Transition: Worthington Enterprises is strategically positioned to benefit from the global clean energy transition. Through its 49% ownership in the Sustainable Energy Solutions (SES) joint venture with Hexagon Composites and the acquisition of Hexagon Ragasco, the company is focusing on the storage, transport, and distribution of hydrogen, compressed natural gas, and lightweight LPG composite cylinders, aligning with the growing demand for cleaner energy solutions.
AI Analysis | Feedback
Here is a summary of Worthington Enterprises' (symbol: WOR) capital allocation decisions over the last 3-5 years:Share Repurchases
- Worthington Enterprises repurchased 250,000 common shares for $13.7 million during the second quarter of fiscal 2026 (ended November 30, 2025). This left 5,015,000 common shares remaining on the company's repurchase authorization.
- During the first quarter of fiscal 2026 (ended August 31, 2025), the company repurchased 100,000 common shares for $6.3 million, with 5,265,000 common shares remaining on the repurchase authorization at that time.
- Prior to the spin-off, on March 24, 2021, Worthington Industries' board authorized the repurchase of up to an additional 5,618,464 common shares, increasing the total shares available for repurchase to 10,000,000.
Share Issuance
- On December 1, 2023, Worthington Industries completed the spin-off of its Steel Processing business into Worthington Steel, Inc. As part of this separation, Worthington Industries shareholders received one common share of Worthington Steel for every one common share of Worthington Industries they held. The remaining company was renamed Worthington Enterprises.
- The number of outstanding shares for Worthington Enterprises was 49,160,000 as of February 2026, and 49,160,000 at the end of 2025, which reflects a slight decrease from 49,460,000 in 2024, primarily due to share repurchases.
Outbound Investments
- Worthington Enterprises completed the acquisition of LSI Group, LLC, a manufacturer of metal roof components, for approximately $205 million on January 16, 2026. The acquisition was funded primarily with existing cash and borrowings under revolving credit facilities.
- On June 18, 2025, the company acquired Elgen Manufacturing, a designer and manufacturer of HVAC components, ductwork, and structural framing, for $91.2 million (net of cash acquired).
- Worthington Enterprises acquired Hexagon Ragasco, a leading manufacturer of composite propane cylinders, for approximately $98 million on June 3, 2024.
- On October 16, 2025, Worthington Enterprises divested its 49% interest in the Sustainable Energy Solutions (SES) joint venture's composite business.
Capital Expenditures
- During the second quarter of fiscal 2026 (ended November 30, 2025), Worthington Enterprises invested $12.4 million in capital expenditures, with approximately $5.8 million related to ongoing facility modernization projects.
- In the first quarter of fiscal 2026 (ended August 31, 2025), capital expenditures totaled $13.2 million, including approximately $8.6 million for ongoing facility modernization projects.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEO | GEO | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | RUN | Sunrun | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 0.0% | 0.0% | 0.0% |
| 04172026 | RSG | Republic Services | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -1.1% |
| 04102026 | VRSK | Verisk Analytics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.3% | 12.3% | 0.0% |
| 04102026 | UHAL | U-Haul | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -1.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 59.26 |
| Mkt Cap | 7.0 |
| Rev LTM | 4,850 |
| Op Inc LTM | 544 |
| FCF LTM | 252 |
| FCF 3Y Avg | 376 |
| CFO LTM | 343 |
| CFO 3Y Avg | 590 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.8% |
| Rev Chg 3Y Avg | 1.1% |
| Rev Chg Q | 2.4% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | -1.1% |
| Op Inc Chg 3Y Avg | 8.1% |
| Op Mgn LTM | 12.7% |
| Op Mgn 3Y Avg | 14.1% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 12.2% |
| CFO/Rev 3Y Avg | 14.6% |
| FCF/Rev LTM | 10.0% |
| FCF/Rev 3Y Avg | 11.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.0 |
| P/S | 1.9 |
| P/Op Inc | 13.4 |
| P/EBIT | 16.8 |
| P/E | 15.5 |
| P/CFO | 12.1 |
| Total Yield | 5.2% |
| Dividend Yield | 1.5% |
| FCF Yield 3Y Avg | 6.6% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.2% |
| 3M Rtn | -12.8% |
| 6M Rtn | 4.2% |
| 12M Rtn | -13.0% |
| 3Y Rtn | 38.7% |
| 1M Excs Rtn | -5.0% |
| 3M Excs Rtn | -21.2% |
| 6M Excs Rtn | -4.9% |
| 12M Excs Rtn | -37.6% |
| 3Y Excs Rtn | -40.7% |
Comparison Analyses
Segment Financials
Assets by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Building Products | 673 | 636 | 681 | 664 | |
| Consumer Products | 558 | 615 | 577 | 541 | |
| Unallocated corporate and other | 408 | ||||
| Other | 511 | 188 | 639 | 405 | |
| Steel Processing | 1,759 | 2,083 | 1,360 | 822 | |
| Sustainable Energy Solutions | 130 | 114 | 170 | ||
| Pressure Cylinders | 1,105 | ||||
| Total | 1,639 | 3,651 | 3,643 | 3,373 | 2,332 |
Price Behavior
| Market Price | $53.38 | |
| Market Cap ($ Bil) | 2.6 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -20.0% | |
| 50 Days | 200 Days | |
| DMA Price | $52.60 | $55.92 |
| DMA Trend | down | down |
| Distance from DMA | 1.5% | -4.5% |
| 3M | 1YR | |
| Volatility | 33.8% | 29.1% |
| Downside Capture | 126.93 | 125.47 |
| Upside Capture | 52.29 | 79.35 |
| Correlation (SPY) | 41.1% | 40.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.17 | 0.84 | 0.75 | 0.79 | 0.93 | 0.87 |
| Up Beta | 1.50 | 1.56 | 1.49 | 1.17 | 1.33 | 1.13 |
| Down Beta | -0.47 | 0.88 | 0.94 | 0.83 | 0.56 | 0.43 |
| Up Capture | 61% | 42% | 42% | 56% | 73% | 74% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 21 | 34 | 66 | 130 | 386 |
| Down Capture | -31% | 60% | 35% | 68% | 98% | 99% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 22 | 30 | 56 | 119 | 359 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WOR | |
|---|---|---|---|---|
| WOR | -9.2% | 29.0% | -0.33 | - |
| Sector ETF (XLI) | 23.7% | 15.4% | 1.17 | 54.7% |
| Equity (SPY) | 27.4% | 12.1% | 1.71 | 41.0% |
| Gold (GLD) | 42.5% | 26.8% | 1.30 | 9.5% |
| Commodities (DBC) | 45.4% | 18.5% | 1.88 | -21.4% |
| Real Estate (VNQ) | 11.5% | 13.5% | 0.56 | 40.1% |
| Bitcoin (BTCUSD) | -23.7% | 41.8% | -0.54 | 17.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WOR | |
|---|---|---|---|---|
| WOR | 4.9% | 38.4% | 0.22 | - |
| Sector ETF (XLI) | 11.9% | 17.5% | 0.53 | 55.8% |
| Equity (SPY) | 13.6% | 17.1% | 0.63 | 47.3% |
| Gold (GLD) | 19.4% | 17.9% | 0.88 | 8.0% |
| Commodities (DBC) | 10.9% | 19.4% | 0.45 | 12.8% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.06 | 40.6% |
| Bitcoin (BTCUSD) | 7.2% | 55.9% | 0.34 | 17.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WOR | |
|---|---|---|---|---|
| WOR | 10.3% | 40.0% | 0.38 | - |
| Sector ETF (XLI) | 13.9% | 20.0% | 0.61 | 64.0% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 57.3% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 5.8% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 22.7% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 48.6% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.06 | 15.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/24/2026 | -4.6% | 0.5% | 5.7% |
| 12/16/2025 | -2.5% | -6.1% | -5.1% |
| 9/23/2025 | -11.6% | -7.9% | -6.1% |
| 6/24/2025 | 2.0% | 7.2% | 2.5% |
| 3/25/2025 | 23.8% | 21.0% | 18.8% |
| 12/17/2024 | 10.3% | 7.6% | 11.1% |
| 9/24/2024 | -5.6% | -9.1% | -14.4% |
| 6/25/2024 | -3.4% | -9.9% | -0.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 14 |
| # Negative | 12 | 11 | 10 |
| Median Positive | 5.4% | 6.8% | 9.2% |
| Median Negative | -4.1% | -7.9% | -7.0% |
| Max Positive | 23.8% | 21.0% | 32.3% |
| Max Negative | -17.0% | -17.0% | -14.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 04/09/2026 | 10-Q |
| 11/30/2025 | 01/09/2026 | 10-Q |
| 08/31/2025 | 10/08/2025 | 10-Q |
| 05/31/2025 | 07/30/2025 | 10-K |
| 02/28/2025 | 04/09/2025 | 10-Q |
| 11/30/2024 | 01/10/2025 | 10-Q |
| 08/31/2024 | 10/07/2024 | 10-Q |
| 05/31/2024 | 07/30/2024 | 10-K |
| 02/29/2024 | 04/09/2024 | 10-Q |
| 11/30/2023 | 01/09/2024 | 10-Q |
| 08/31/2023 | 10/04/2023 | 10-Q |
| 05/31/2023 | 07/31/2023 | 10-K |
| 02/28/2023 | 04/10/2023 | 10-Q |
| 11/30/2022 | 01/09/2023 | 10-Q |
| 08/31/2022 | 10/11/2022 | 10-Q |
| 05/31/2022 | 08/01/2022 | 10-K |
Recent Forward Guidance [BETA]
Latest: Q3 2026 Earnings Reported 3/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Facility Modernization Completion | |||||||
| 2026 Gross Margin | 30.0% | ||||||
| 2026 SG&A as a percentage of sales | 0.2 | ||||||
Prior: Q2 2026 Earnings Reported 12/19/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 ClarkDietrich Performance | |||||||
| 2026 Gross Margin | 30.0% | ||||||
| 2026 SG&A as a percentage of sales | 0.2 | ||||||
| 2026 Capital Expenditures | 35.00 Mil | ||||||
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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