Worthington Steel (WS)
Market Price (6/30/2026): $33.61 | Market Cap: $1.7 BilSector: Materials | Industry: Steel
Worthington Steel (WS)
Market Price (6/30/2026): $33.61Market Cap: $1.7 BilSector: MaterialsIndustry: Steel
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 8.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.3% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Advanced Materials, and Sustainable Resource Management. Themes include Steel Recycling & Resource Efficiency, Show more. | Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -3.4% | Key risksWS key risks include [1] its heavy concentration in the cyclical automotive and construction sectors, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.3% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Advanced Materials, and Sustainable Resource Management. Themes include Steel Recycling & Resource Efficiency, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -3.4% |
| Key risksWS key risks include [1] its heavy concentration in the cyclical automotive and construction sectors, Show more. |
Qualitative Assessment
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Updated on 6/25/2026
Worthington Steel (WS) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Worthington Steel reported a significant decline in profitability during fiscal Q3 2026, which ended February 28, 2026. The company's net earnings attributable to controlling interest decreased to $10.4 million compared to $13.8 million in the prior year, and adjusted net earnings per diluted share were $0.27 versus $0.35 in the same quarter of fiscal 2025. This represented a 41.3% miss against analysts' EPS expectations of $0.46. Operating income for fiscal Q3 2026 plummeted to $3.1 million from $18.3 million year-over-year.
2. The company experienced a substantial operating loss and net loss in fiscal Q4 2026, ending May 31, 2026. Worthington Steel reported an operating loss of $57.6 million, a sharp reversal from an operating income of $66.4 million in fiscal Q4 2025. This loss was primarily driven by $94.5 million in non-cash impairment charges in the Electrical Steel reporting unit and acquisition-related expenses. Consequently, the company posted a net loss attributable to controlling interests of $48.7 million, or $0.98 per share, compared to a net income of $55.7 million, or $1.10 per share, in the prior year's fiscal fourth quarter.
Show more
Worthington Steel (WS) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Worthington Steel reported a significant decline in profitability during fiscal Q3 2026, which ended February 28, 2026. The company's net earnings attributable to controlling interest decreased to $10.4 million compared to $13.8 million in the prior year, and adjusted net earnings per diluted share were $0.27 versus $0.35 in the same quarter of fiscal 2025. This represented a 41.3% miss against analysts' EPS expectations of $0.46. Operating income for fiscal Q3 2026 plummeted to $3.1 million from $18.3 million year-over-year.
2. The company experienced a substantial operating loss and net loss in fiscal Q4 2026, ending May 31, 2026. Worthington Steel reported an operating loss of $57.6 million, a sharp reversal from an operating income of $66.4 million in fiscal Q4 2025. This loss was primarily driven by $94.5 million in non-cash impairment charges in the Electrical Steel reporting unit and acquisition-related expenses. Consequently, the company posted a net loss attributable to controlling interests of $48.7 million, or $0.98 per share, compared to a net income of $55.7 million, or $1.10 per share, in the prior year's fiscal fourth quarter.
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Updated on 6/25/2026
Worthington Steel (WS) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Worthington Steel reported a significant decline in profitability during fiscal Q3 2026, which ended February 28, 2026. The company's net earnings attributable to controlling interest decreased to $10.4 million compared to $13.8 million in the prior year, and adjusted net earnings per diluted share were $0.27 versus $0.35 in the same quarter of fiscal 2025. This represented a 41.3% miss against analysts' EPS expectations of $0.46. Operating income for fiscal Q3 2026 plummeted to $3.1 million from $18.3 million year-over-year.
2. The company experienced a substantial operating loss and net loss in fiscal Q4 2026, ending May 31, 2026. Worthington Steel reported an operating loss of $57.6 million, a sharp reversal from an operating income of $66.4 million in fiscal Q4 2025. This loss was primarily driven by $94.5 million in non-cash impairment charges in the Electrical Steel reporting unit and acquisition-related expenses. Consequently, the company posted a net loss attributable to controlling interests of $48.7 million, or $0.98 per share, compared to a net income of $55.7 million, or $1.10 per share, in the prior year's fiscal fourth quarter.
3. Increased debt and acquisition-related expenses stemming from the Kloeckner & Co SE acquisition impacted financial performance. Worthington Steel completed its $2.4 billion all-cash acquisition of a majority stake (approximately 62%) in Kloeckner & Co SE on June 3, 2026. This transaction involved increased short-term borrowings, contributing to acquisition-related expenses that weighed on fiscal Q4 2026 results. As of February 28, 2026, the company's net debt stood at $161.4 million. The success of this acquisition hinges on realizing an estimated $150 million in annual cost synergies by 2028, without which higher interest expenses could diminish the deal's attractiveness.
4. A challenging macroeconomic environment and softening demand contributed to reduced volumes and narrower margins. The company's CEO noted a "challenging quarter from a macroeconomic standpoint" during fiscal Q3 2026. The steel market experienced "narrower value-added margins year on year." Toll volumes decreased by 22% in fiscal Q3 2026 due to softening demand. While there were some signs of recovery in the broader U.S. manufacturing sector, the general outlook for apparent steel consumption in the EU for 2026 indicated only modest growth of 0.4% with subdued capacity utilization, weakened by factors such as high energy costs and global trade uncertainty.
Show less
Worthington Steel (WS) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Worthington Steel reported a significant decline in profitability during fiscal Q3 2026, which ended February 28, 2026. The company's net earnings attributable to controlling interest decreased to $10.4 million compared to $13.8 million in the prior year, and adjusted net earnings per diluted share were $0.27 versus $0.35 in the same quarter of fiscal 2025. This represented a 41.3% miss against analysts' EPS expectations of $0.46. Operating income for fiscal Q3 2026 plummeted to $3.1 million from $18.3 million year-over-year.
2. The company experienced a substantial operating loss and net loss in fiscal Q4 2026, ending May 31, 2026. Worthington Steel reported an operating loss of $57.6 million, a sharp reversal from an operating income of $66.4 million in fiscal Q4 2025. This loss was primarily driven by $94.5 million in non-cash impairment charges in the Electrical Steel reporting unit and acquisition-related expenses. Consequently, the company posted a net loss attributable to controlling interests of $48.7 million, or $0.98 per share, compared to a net income of $55.7 million, or $1.10 per share, in the prior year's fiscal fourth quarter.
3. Increased debt and acquisition-related expenses stemming from the Kloeckner & Co SE acquisition impacted financial performance. Worthington Steel completed its $2.4 billion all-cash acquisition of a majority stake (approximately 62%) in Kloeckner & Co SE on June 3, 2026. This transaction involved increased short-term borrowings, contributing to acquisition-related expenses that weighed on fiscal Q4 2026 results. As of February 28, 2026, the company's net debt stood at $161.4 million. The success of this acquisition hinges on realizing an estimated $150 million in annual cost synergies by 2028, without which higher interest expenses could diminish the deal's attractiveness.
4. A challenging macroeconomic environment and softening demand contributed to reduced volumes and narrower margins. The company's CEO noted a "challenging quarter from a macroeconomic standpoint" during fiscal Q3 2026. The steel market experienced "narrower value-added margins year on year." Toll volumes decreased by 22% in fiscal Q3 2026 due to softening demand. While there were some signs of recovery in the broader U.S. manufacturing sector, the general outlook for apparent steel consumption in the EU for 2026 indicated only modest growth of 0.4% with subdued capacity utilization, weakened by factors such as high energy costs and global trade uncertainty.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -14.7% change in WS stock from 2/28/2026 to 6/29/2026 was primarily driven by a -12.1% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6292026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.20 | 35.16 | -14.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,265 | 3,348 | 2.5% |
| Net Income Margin (%) | 3.8% | 3.6% | -5.1% |
| P/E Multiple | 16.4 | 14.4 | -12.1% |
| Shares Outstanding (Mil) | 50 | 50 | -0.2% |
| Cumulative Contribution | -14.7% |
Market Drivers
2/28/2026 to 6/29/2026| Return | Correlation | |
|---|---|---|
| WS | -14.7% | |
| Market (SPY) | 8.3% | 51.6% |
| Sector (XLB) | -4.7% | 57.1% |
Fundamental Drivers
The 5.5% change in WS stock from 11/30/2025 to 6/29/2026 was primarily driven by a 6.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 6292026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.31 | 35.16 | 5.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,132 | 3,348 | 6.9% |
| Net Income Margin (%) | 3.8% | 3.6% | -4.4% |
| P/E Multiple | 13.9 | 14.4 | 3.9% |
| Shares Outstanding (Mil) | 50 | 50 | -0.6% |
| Cumulative Contribution | 5.5% |
Market Drivers
11/30/2025 to 6/29/2026| Return | Correlation | |
|---|---|---|
| WS | 5.5% | |
| Market (SPY) | 9.0% | 45.0% |
| Sector (XLB) | 14.4% | 54.2% |
Fundamental Drivers
The 44.6% change in WS stock from 5/31/2025 to 6/29/2026 was primarily driven by a 29.6% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6292026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.31 | 35.16 | 44.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,171 | 3,348 | 5.6% |
| Net Income Margin (%) | 3.4% | 3.6% | 6.6% |
| P/E Multiple | 11.1 | 14.4 | 29.6% |
| Shares Outstanding (Mil) | 50 | 50 | -0.8% |
| Cumulative Contribution | 44.6% |
Market Drivers
5/31/2025 to 6/29/2026| Return | Correlation | |
|---|---|---|
| WS | 44.6% | |
| Market (SPY) | 27.2% | 45.3% |
| Sector (XLB) | 19.6% | 54.1% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 6/29/2026| Return | Correlation | |
|---|---|---|
| WS | ||
| Market (SPY) | 84.3% | 43.3% |
| Sector (XLB) | 43.2% | 46.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WS Return | - | - | 27% | 15% | 11% | 12% | 83% |
| Peers Return | 52% | 26% | 37% | 3% | 44% | 58% | 520% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| WS Win Rate | - | - | 100% | 67% | 58% | 67% | |
| Peers Win Rate | 58% | 58% | 52% | 60% | 63% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| WS Max Drawdown | - | - | - | -32% | -29% | -42% | |
| Peers Max Drawdown | -32% | -34% | -33% | -29% | -26% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HCC, NWPX, FRD, NUE, STLD.
[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 6/29/2026 (YTD)
How Low Can It Go
| Event | WS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.6% | -18.8% |
| % Gain to Breakeven | 27.5% | 23.1% |
| Time to Breakeven | 79 days | 79 days |
In The Past
Worthington Steel's stock fell -21.6% during the 2025 US Tariff Shock. Such a loss loss requires a 27.5% gain to breakeven.
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| Event | WS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.6% | -18.8% |
| % Gain to Breakeven | 27.5% | 23.1% |
| Time to Breakeven | 79 days | 79 days |
In The Past
Worthington Steel's stock fell -21.6% during the 2025 US Tariff Shock. Such a loss loss requires a 27.5% 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 Steel (WS)
AI Analysis | Feedback
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AI Analysis | Feedback
- Custom-Engineered Laser-Welded Blanks: Provides tailored steel blanks, often for automotive applications, optimizing material usage and part performance through advanced laser welding.
- Hot Rolled Steel Processing: Processes hot rolled steel coils into precise widths and lengths through slitting, blanking, and leveling for various industrial uses.
- Cold Rolled Steel Processing: Processes cold rolled steel coils to meet specific surface finish, thickness, and dimensional requirements for demanding applications.
- Galvanized Steel Processing: Provides processing services for zinc-coated steel, enhancing its corrosion resistance for use in automotive, construction, and appliance sectors.
- Painted Steel Processing: Applies paint and other coatings to steel coils, offering aesthetic finishes and additional protection for diverse industrial and consumer products.
- Electrical Steel Processing: Specializes in processing electrical steel, which is critical for components in motors, transformers, and power generation due to its specific magnetic properties.
AI Analysis | Feedback
Worthington Steel (WS) is a leading North American steel processor, primarily focused on flat-rolled steel. As such, it sells its products to other manufacturing companies rather than directly to individuals. Its customers are typically large manufacturers across a diverse range of industries that utilize steel as a primary material in their products.
While Worthington Steel does not publicly disclose the names of its individual major customers due to the nature of its business and competitive reasons, its customer base consists of manufacturers in the following key sectors. Examples of public companies that operate in these sectors and would likely be customers (or types of customers) of Worthington Steel include:
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Automotive Industry: Manufacturers of light vehicles, heavy trucks, and agricultural/off-highway equipment. These include major Original Equipment Manufacturers (OEMs) and their Tier 1 suppliers.
- General Motors (GM)
- Ford Motor Company (F)
- Stellantis N.V. (STLA)
- Magna International Inc. (MGA)
- PACCAR Inc (PCAR)
- Deere & Company (DE)
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Appliance Industry: Producers of a wide range of household appliances.
- Whirlpool Corporation (WHR)
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HVAC Industry: Manufacturers of heating, ventilation, and air conditioning systems.
- Carrier Global Corporation (CARR)
- Trane Technologies plc (TT)
- Construction Industry: Various manufacturers of building products and components that require steel.
- Consumer Products Industry: Manufacturers of diverse consumer goods incorporating steel.
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- Nucor Corporation (NUE)
- Cleveland-Cliffs Inc. (CLF)
- Steel Dynamics, Inc. (STLD)
- U.S. Steel Corporation (X)
- ArcelorMittal (MT)
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Geoff G. Gilmore President and Chief Executive Officer
Geoff Gilmore is the President and Chief Executive Officer of Worthington Steel, bringing nearly 30 years of experience in the metals industry. He joined Worthington Industries in 1998 as an inside sales representative and advanced through various roles, including territory manager and commercial lead for automotive sales. In 2010, he became general manager of the Delta, Ohio, Steel Processing facility and was later named vice president of purchasing in 2011. Gilmore became president of the Steel Processing division in 2012, then president of Worthington Industries' Pressure Cylinders division in 2016. Prior to his current role, he served as executive vice president and chief operating officer of Worthington Industries, taking the helm of Worthington Steel as a standalone company in December 2023.
Tim Adams Vice President & Chief Financial Officer
Tim Adams is the Vice President and Chief Financial Officer for Worthington Steel, with over 25 years of experience in strategic financial planning and business development. He started at Worthington Industries in 1998 as a financial analyst and held various roles of increasing responsibility within the Financial Planning and Analysis team. Adams was appointed director of strategy and business development in 2008 and served as the vice president of strategy and corporate development for Worthington Industries since 2012. In his current role, he is also on the boards of two Worthington Steel joint ventures, TWB Company and Serviacero Worthington.
Jeff Klingler Executive Vice President & Chief Operating Officer
Jeff Klingler is the Executive Vice President and Chief Operating Officer for Worthington Steel. He began his career at Worthington in 1992 on the production floor and later moved into sales, taking on progressively more responsible positions. After 15 years, he left Worthington to become vice president of Sales, Marketing and Procurement at Banner Service Corporation. Klingler returned to Worthington in 2014 to establish the Steel Processing division's supply chain solutions strategic business unit and was named president of Steel Processing in May 2019.
Cliff J. Larivey President of Flat-Roll Steel Processing
Cliff Larivey is the President of Flat-Roll Steel Processing for Worthington Steel, a position he assumed effective December 1, 2024. He joined Worthington Industries in February 2010 as director of steel purchasing, following Worthington's acquisition of Gibraltar Strip Steel, where he had held several roles including production scheduler, materials application, and inside sales manager. Prior to his current role, Larivey served as vice president of purchasing for Worthington Industries for 11 years and then as senior vice president of commercial and purchasing for Worthington Steel after its separation in December 2023.
Nikki Ballinger Vice President of Human Resources
Nikki Ballinger serves as the Vice President of Human Resources for Worthington Steel.
AI Analysis | Feedback
The key risks to Worthington Steel's business are:
- Reliance on Cyclical Industries and Steel Price Volatility: Worthington Steel faces significant challenges due to its heavy reliance on the automotive and construction industries, which constitute a substantial portion of its net sales. Downturns in these sectors or the cyclical nature of these industries can adversely affect the company's financial performance by leading to fluctuations in demand and pricing. Furthermore, volatility in steel prices, driven by factors such as supplier consolidation, international conflicts, and tariffs, poses a significant risk, as the company may struggle to pass on increased raw material costs to customers, impacting margins. Weaker shipments in key end markets and pressure on earnings from inventory and cost inflation could also undermine the company's fair value.
- Acquisition-Related Uncertainty: Worthington Steel is exposed to risks associated with its acquisition strategy, particularly the uncertainty surrounding its pending $2.4 billion acquisition of Kloeckner & Co. Recent commentary from the CEO acknowledging "good alternatives" if the deal does not materialize has amplified selling pressure and highlights the potential impact of such transactional risks on the company's stock and future direction.
- Cybersecurity Risks: The company is exposed to cybersecurity risks, including potential breaches that could disrupt operations and compromise sensitive information. The evolving nature of cyber threats necessitates ongoing investment in security measures and governance structures to manage risks related to data privacy, cybersecurity, and regulatory compliance.
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Worthington Steel (NYSE: WS) operates as a steel processor offering a range of products and services, including carbon flat-rolled steel, electrical steel laminations, and tailor-welded solutions. The company serves diverse end markets such as automotive, agriculture, construction, energy, and heavy truck.
Addressable Markets for Worthington Steel's Main Products:
-
Tailor Welded Blanks / Tailored Blanks:
- The global tailored blank market size was estimated at USD 6.69 billion in 2025 and is projected to reach USD 24.91 billion by 2035, growing at a compound annual growth rate (CAGR) of 14.05%.
- Another estimate places the global tailored blank market size at USD 7.81 billion in 2026, expanding to USD 25.71 billion by 2035 with a CAGR of 14.16%.
- The global tailor welded blanks market was valued at USD 8 billion in 2022 and is projected to grow at a CAGR of 5.2% from 2023 to 2030.
- In North America, the tailor welded blanks market holds a significant 28.52% of the global market share, with the United States alone accounting for 22.58% of the global market in 2025.
-
Galvanized Steel:
- The global galvanized steel market size was valued at USD 110.07 billion in 2025 and is projected to grow to USD 186.82 billion by 2034, exhibiting a CAGR of 6.10%.
- The Asia Pacific region dominated the global galvanized steel market with a market share of 47.70% in 2025.
- The U.S. galvanized steel market is projected to reach an estimated value of USD 24.53 billion by 2032. In 2024, the U.S. market generated USD 25.989 billion and is expected to reach USD 32.500 billion by 2030, growing at a CAGR of 3.8% from 2025 to 2030.
- The global hot-dip galvanized steel market, a segment of galvanized steel, was valued at USD 89.61 billion in 2024 and is projected to reach USD 106.01 billion by 2032, with a CAGR of 2.5%. China is the largest market for hot-dip galvanized steel, holding approximately 45% of the global market share, followed by Europe with about 20%.
-
Cold Rolled Steel:
- The global cold rolled coil steel market size was valued at USD 83.51 billion in 2025 and is projected to reach USD 134.71 billion by 2034, exhibiting a CAGR of 6.2%.
- The Asia Pacific region dominated the cold rolled coil steel market with a 51% market share in 2025.
- The global cold rolled steel coil market size was estimated at 135.75 million tons in 2025 and is expected to reach 164.05 million tons by 2030, at a CAGR of 3.86%.
- Another report indicates the global cold rolled steel coil market was valued at USD 149.05 million in 2024 and is predicted to reach USD 181.69 million by 2034, with a CAGR of 2% between 2025 and 2034.
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Electrical Steel Laminations:
- Worthington Steel is making focused investments in the rapidly growing electrical steel market, driven by the increasing demand for electric and hybrid vehicles and advancements in electrical infrastructure. However, specific addressable market size figures in USD for "electrical steel laminations" as a standalone market were not identified in the provided information.
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Worthington Steel (WS) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market opportunities:
* Expansion in the Electrical Steel Market: Worthington Steel is making significant investments in the rapidly growing electrical steel market, specifically for electric vehicle (EV) programs and transformer applications. This includes expansions of electrical steel facilities in Mexico and Canada, and the installation of a fully automated ablation line in Monroe, Michigan, which will make Worthington Steel one of only two companies in North America offering this technology to customers. The company has secured initial orders for new business in these sectors, highlighting growth in these areas. Increased demand for electrical steel is also linked to AI initiatives and the growth of data centers, driving an anticipated annual power demand increase of over 6% in the next 15 years.
* Strategic Acquisitions: The company is actively pursuing growth through acquisitions. The acquisition of Italy-based Sitem Group, which closed in June 2025, is set to boost Worthington Steel's presence in Europe and enhance its electrical steel lamination business, supporting growth in the EV market. Additionally, Worthington Steel announced a $2.4 billion acquisition of Germany-based Klöckner in February 2026, expected to close in the second half of 2026. This acquisition will position Worthington Steel as the second-largest steel processor in North America, providing greater scale, broader geographic reach, and expanded capabilities that customers have requested.
* Focus on Higher Value-Added Products and Solutions: Worthington Steel emphasizes a strategic approach centered on high-value solutions, disciplined product selection, efficient inventory management, and exceptional service. This focus is intended to enhance earnings potential and improve competitiveness. The company has observed a favorable mix within its toll processing, including more high value-added processing, contributing to revenue.
* Growth in Direct Sales Volumes and Favorable Pricing: Recent financial results indicate revenue growth driven by increased direct tons sold and rising average direct selling prices. For instance, in the second quarter of fiscal 2026, revenue surged due to a 13% increase in direct tons sold and a 7% rise in average direct selling prices compared to the prior year quarter. This highlights the company's ability to drive volume and command favorable pricing in its direct sales channels.
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Share Issuance
- On December 1, 2023, Worthington Steel was separated from Worthington Enterprises through a pro-rata distribution, where existing Worthington Enterprises shareholders received one common share of Worthington Steel for every one share of Worthington Enterprises held.
Outbound Investments
- In fiscal year 2024, Worthington Steel acquired Voestalpine Nagold, including its facility in Germany, for a net cash consideration of $21.0 million and the assumption of a $0.9 million pension liability, establishing a manufacturing presence in Europe for automotive and electrical steel lamination stampings.
- During the first quarter of fiscal year 2026 (ended August 31, 2025), Worthington Steel, through its Tempel Steel Company, LLC subsidiary, completed the acquisition of 52% of S.I.T.E.M. S.p.A. (Sitem Group), an Italian company, for $1.6 million, net of cash acquired.
- On January 15, 2026, Worthington Steel announced an agreement to acquire Kloeckner & Co, a German-based metals processor with operations in Europe and North America, through a voluntary public tender offer for all outstanding shares at €11.00 per share.
Capital Expenditures
- Investment in property, plant, and equipment for the first quarter of fiscal year 2026 (ended August 31, 2025) was $29.4 million.
- Worthington Steel reported capital expenditures of $24.7 million in the second quarter of fiscal year 2026 (ended November 30, 2025).
- In the first quarter of fiscal year 2025, capital expenditures amounted to $21.5 million, with a primary focus on electrical steel expansions in Mexico and Canada.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Worthington Steel (WS) -7.2%: Steel Sector Weakness, Kloeckner Deal Jitters | 03/04/2026 | |
| Worthington Steel Earnings Notes | 12/16/2025 | |
| Can Worthington Steel Stock Hold Up When Markets Turn? | 10/17/2025 | |
| WS Dip Buy Analysis | 07/10/2025 | |
| Worthington Steel (WS) Valuation Ratios Comparison | 05/15/2025 | |
| Worthington Steel (WS) Operating Cash Flow Comparison | 02/17/2025 | |
| Worthington Steel (WS) Net Income Comparison | 02/16/2025 | |
| Worthington Steel (WS) Operating Income Comparison | 02/15/2025 | |
| Worthington Steel (WS) Revenue Comparison | 02/14/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 115.09 |
| Mkt Cap | 3.0 |
| Rev LTM | 2,408 |
| Op Inc LTM | 139 |
| FCF LTM | 76 |
| FCF 3Y Avg | 76 |
| CFO LTM | 208 |
| CFO 3Y Avg | 293 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.9% |
| Rev Chg 3Y Avg | -3.6% |
| Rev Chg Q | 20.2% |
| QoQ Delta Rev Chg LTM | 4.9% |
| Op Inc Chg LTM | 44.3% |
| Op Inc Chg 3Y Avg | -12.5% |
| Op Mgn LTM | 9.8% |
| Op Mgn 3Y Avg | 10.3% |
| QoQ Delta Op Mgn LTM | 1.0% |
| CFO/Rev LTM | 9.3% |
| CFO/Rev 3Y Avg | 11.4% |
| FCF/Rev LTM | 2.0% |
| FCF/Rev 3Y Avg | 3.3% |
Price Behavior
Price Behavior
| Market Price | $35.16 | |
| Market Cap ($ Bil) | 1.8 | |
| First Trading Date | 12/01/2023 | |
| Distance from 52W High | -27.2% | |
| 50 Days | 200 Days | |
| DMA Price | $39.57 | $36.05 |
| DMA Trend | up | up |
| Distance from DMA | -11.2% | -2.5% |
| 3M | 1YR | |
| Volatility | 54.1% | 46.6% |
| Downside Capture | 180.57 | 179.68 |
| Upside Capture | 154.09 | 151.91 |
| Correlation (SPY) | 54.6% | 50.1% |
WS Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.79 | 2.77 | 2.76 | 2.06 | 2.09 | -0.16 |
| Up Beta | 3.27 | 3.06 | 2.38 | 2.24 | 2.31 | 0.20 |
| Down Beta | 3.26 | 2.89 | 3.70 | 2.78 | 2.04 | 0.17 |
| Up Capture | 342% | 271% | 256% | 220% | 347% | 231% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 11 | 23 | 31 | 68 | 135 | 315 |
| Down Capture | 521% | 280% | 276% | 153% | 156% | 107% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 17 | 31 | 55 | 113 | 303 |
[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 WS | |
|---|---|---|---|---|
| WS | 13.2% | 47.0% | 0.41 | - |
| Sector ETF (XLB) | 17.2% | 17.6% | 0.75 | 56.5% |
| Equity (SPY) | 22.2% | 12.5% | 1.32 | 46.3% |
| Gold (GLD) | 20.2% | 27.8% | 0.65 | 24.8% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | -20.3% |
| Real Estate (VNQ) | 15.6% | 13.6% | 0.82 | 33.1% |
| Bitcoin (BTCUSD) | -44.0% | 42.6% | -1.25 | 26.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WS | |
|---|---|---|---|---|
| WS | 10.7% | 52.5% | 0.56 | - |
| Sector ETF (XLB) | 6.3% | 19.0% | 0.23 | 46.9% |
| Equity (SPY) | 13.5% | 17.1% | 0.61 | 43.3% |
| Gold (GLD) | 17.2% | 18.3% | 0.76 | 14.3% |
| Commodities (DBC) | 7.1% | 19.5% | 0.26 | 5.4% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.05 | 30.1% |
| Bitcoin (BTCUSD) | 13.6% | 53.8% | 0.44 | 22.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WS | |
|---|---|---|---|---|
| WS | 5.2% | 52.5% | 0.56 | - |
| Sector ETF (XLB) | 10.1% | 20.7% | 0.43 | 46.9% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 43.3% |
| Gold (GLD) | 11.5% | 16.1% | 0.58 | 14.3% |
| Commodities (DBC) | 5.7% | 18.0% | 0.24 | 5.4% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 30.1% |
| Bitcoin (BTCUSD) | 55.0% | 66.4% | 0.95 | 22.2% |
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Returns Analyses
Earnings Returns History
Updated 6/30/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/25/2026 | -7.0% | ||
| 3/26/2026 | -14.9% | -11.2% | 7.8% |
| 12/19/2025 | -0.0% | -2.0% | 10.6% |
| 9/29/2025 | -0.2% | 1.9% | 4.6% |
| 6/27/2025 | -6.9% | -0.9% | -4.3% |
| 3/21/2025 | 2.0% | -2.2% | -6.5% |
| 12/20/2024 | -7.2% | -8.2% | -12.6% |
| 9/30/2024 | -0.8% | -1.5% | 16.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 3 | 2 | 5 |
| # Negative | 8 | 8 | 5 |
| Median Positive | 3.9% | 3.0% | 10.6% |
| Median Negative | -4.5% | -2.6% | -6.5% |
| Max Positive | 12.1% | 4.1% | 16.5% |
| Max Negative | -14.9% | -12.0% | -12.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/25/2026 | -7.0% | ||
| 3/26/2026 | -14.9% | -11.2% | 7.8% |
| 12/19/2025 | -0.0% | -2.0% | 10.6% |
| 9/29/2025 | -0.2% | 1.9% | 4.6% |
| 6/27/2025 | -6.9% | -0.9% | -4.3% |
| 3/21/2025 | 2.0% | -2.2% | -6.5% |
| 12/20/2024 | -7.2% | -8.2% | -12.6% |
| 9/30/2024 | -0.8% | -1.5% | 16.5% |
| 6/28/2024 | -2.2% | -3.0% | 15.4% |
| 3/26/2024 | 3.9% | 4.1% | -11.9% |
| 12/22/2023 | 12.1% | -12.0% | -3.9% |
| SUMMARY STATS | |||
| # Positive | 3 | 2 | 5 |
| # Negative | 8 | 8 | 5 |
| Median Positive | 3.9% | 3.0% | 10.6% |
| Median Negative | -4.5% | -2.6% | -6.5% |
| Max Positive | 12.1% | 4.1% | 16.5% |
| Max Negative | -14.9% | -12.0% | -12.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 04/09/2026 | 10-Q |
| 11/30/2025 | 01/08/2026 | 10-Q |
| 08/31/2025 | 10/10/2025 | 10-Q |
| 05/31/2025 | 07/29/2025 | 10-K |
| 02/28/2025 | 04/11/2025 | 10-Q |
| 11/30/2024 | 01/13/2025 | 10-Q |
| 08/31/2024 | 10/15/2024 | 10-Q |
| 05/31/2024 | 08/02/2024 | 10-K |
| 02/29/2024 | 04/12/2024 | 10-Q |
| 11/30/2023 | 01/16/2024 | 10-Q |
| 08/31/2023 | 10/04/2023 | 10-12B |
| 05/31/2022 | 04/19/2023 | DRS |
| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 04/09/2026 | 10-Q |
| 11/30/2025 | 01/08/2026 | 10-Q |
| 08/31/2025 | 10/10/2025 | 10-Q |
| 05/31/2025 | 07/29/2025 | 10-K |
| 02/28/2025 | 04/11/2025 | 10-Q |
| 11/30/2024 | 01/13/2025 | 10-Q |
| 08/31/2024 | 10/15/2024 | 10-Q |
| 05/31/2024 | 08/02/2024 | 10-K |
| 02/29/2024 | 04/12/2024 | 10-Q |
| 11/30/2023 | 01/16/2024 | 10-Q |
| 08/31/2023 | 10/04/2023 | 10-12B |
| 05/31/2022 | 04/19/2023 | DRS |
Insider Activity
Updated 6/30/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Larivey, Clifford | President Flat Rolled Stl Proc | Direct | Sell | 5272026 | 40.09 | 11,105 | 445,249 | 2,578,397 | Form |
| 2 | Bowsher, Jon J | Direct | Buy | 2032026 | 40.15 | 2,500 | 100,375 | 718,404 | Form | |
| 3 | Kelly, Scott J | Direct | Buy | 1292026 | 39.11 | 7,000 | 273,769 | 631,899 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Larivey, Clifford | President Flat Rolled Stl Proc | Direct | Sell | 5272026 | 40.09 | 11,105 | 445,249 | 2,578,397 | Form |
| 2 | Bowsher, Jon J | Direct | Buy | 2032026 | 40.15 | 2,500 | 100,375 | 718,404 | Form | |
| 3 | Kelly, Scott J | Direct | Buy | 1292026 | 39.11 | 7,000 | 273,769 | 631,899 | Form |
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Steel Resources |
| SteelOrbis |
| World Steel Association |
| Kallanish Commodities |
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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Core Cache Last Updated: 6/29/2026