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Friday 6 November 2026
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Worthington Steel, Inc.
Worthington Steel, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $3.4 billion, up 11.3% from fiscal 2025.
- Revenue
- +212.4%
- EPS
- −125.7%
- Free cash flow
- −42.6%
- Total debt
- +823.5%
Quarter to August 2026, against a year earlier
36.33
4.15
−10.25%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to May
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Aug ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 4,069 | 3,608 | 3,431 | 3,093 | 3,444 | 5,298 | (4.1%) | 11,347 | 10,810 | — | +77.2% | |
| Gross margin, % | — | — | — | — | — | 9.72 | 9.33 | 12.82 | 12.56 | 11.71 | 10.37 | +2.0 pt | ||||||
| EBT | — | — | — | — | — | 254 | 129 | 216 | 148 | 7 | (33) | (59.1%) | ||||||
| EBT margin, % | — | — | — | — | — | 6.25 | 3.57 | 6.30 | 4.79 | 0.21 | (0.62) | (6.0) pt | ||||||
| Net income | — | — | — | — | — | 200 | 100 | 170 | 119 | (13) | (56) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 82.53 | 73.18 | 69.59 | 62.49 | 69.15 | 105.95 | (4.3%) | |||||
| Earnings | — | — | — | — | — | 3.66 | 1.77 | 3.14 | 2.24 | 0.17 | (0.76) | (53.6%) | ||||||
| Cash flow | — | — | — | — | — | 0.80 | 6.39 | 4.05 | 4.65 | 4.04 | 4.03 | +49.9% | ||||||
| Capex | — | — | — | — | — | (0.24) | (0.45) | (2.07) | (2.61) | (2.10) | (2.39) | +72.1% | ||||||
| Free cash flow | — | — | — | — | — | 0.56 | 5.94 | 1.97 | 2.04 | 1.94 | 1.64 | +36.3% | ||||||
| Book value | — | — | — | — | — | 0.00 | 23.42 | 22.67 | 24.20 | 24.05 | 32.73 | n/m | ||||||
| Shares, m | — | — | — | — | — | 49 | 49 | 49 | 50 | 50 | 50 | +0.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 25.59 | 25.59 | 10.28 | 11.50 | 197.64 | 0.00 | 54.1 | |||||
| P/S | — | — | — | — | — | 0.00 | 0.00 | 0.47 | 0.41 | 0.62 | 0.34 | 0.3 | ||||||
| P/B | — | — | — | — | — | 1.07 | 1.07 | 1.46 | 1.06 | 1.78 | 1.11 | 1.3 | ||||||
| EV/Sales | — | — | — | — | — | 0.00 | 0.00 | 0.51 | 0.43 | 0.67 | 0.71 | 0.3 | ||||||
| EV/FCF | — | — | — | — | — | 4.80 | 4.80 | 17.82 | 13.17 | 23.88 | 46.09 | 12.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 40 | 315 | 200 | 230 | 201 | 202 | +50.2% | |||||
| Capex | — | — | — | — | — | (12) | (22) | (102) | (129) | (105) | (119) | +72.5% | ||||||
| Free cash flow | — | — | — | — | — | 28 | 293 | 97 | 101 | 97 | 82 | +36.7% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 503 | 383 | 417 | 354 | 1,718 | (11.0%) | |||||
| Net debt | — | — | — | — | — | — | (10) | 108 | 59 | 178 | 1,963 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | 1,155 | 1,118 | 1,198 | 1,198 | 1,637 | +1.2% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | 9.87 | 8.52 | 5.78 | 0.40 | (0.93) | +0.4 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 6.57 | 9.92 | 7.31 | (0.06) | 0.11 | (0.1) pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 0.00 | 13.62 | 9.56 | 0.71 | (2.67) | +0.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 4,100 | 4,600 | 4,800 | 5,400 | — | +9.6% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.88 | 0.75 | 0.64 | 0.64 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to May 2026 · latest quarter Aug 2026 · fundamentals updated 26 Oct 2026
Worthington Steel, Inc. vs peers in Steel (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TX Ternium S.A. | $9.6B | 9.1× | 8.3× | +17.43% (above 0%: growing) | +1,773.00% (above 0%: growing) | +224.47% (above 0%: growing) | 22.31% | 12.42% | Compare |
| CLF Cleveland-Cliffs Inc. | $6.4B | — (loss-making) | 216× | +18.55% (above 0%: growing) | n/m | +124.00% (above 0%: growing) | 8.29% | 5.54% | Compare |
| GGB Gerdau S.A. | $5.5B | 19.2× | — | +14.33% (above 0%: growing) | +87.50% (above 0%: growing) | +171.99% (above 0%: growing) | 15.83% | 13.05% | Compare |
| SIM Grupo Simec, S.A. de C.V. | $4.3B | 20.7× | 28.5× | +17.46% (above 0%: growing) | +38.87% (above 0%: growing) | +96.72% (above 0%: growing) | 24.99% | 15.91% | Compare |
| WS Worthington Steel, Inc. | $1.8B | — (loss-making) | 8.7× | +212.36% (above 0%: growing) | n/m | −42.57% (below 0%: shrinking) | 9.58% | 2.05% | |
| SID National Steel Company | $1.0B | — (loss-making) | 199× | +18.55% (above 0%: growing) | n/m | +8.38% (above 0%: growing) | 25.92% | 5.54% | Compare |
| NWPX NWPX Infrastructure, Inc. | $797.7M | 14.8× | 17.5× | +18.75% (above 0%: growing) | +35.17% (above 0%: growing) | +54.47% (above 0%: growing) | 21.29% | 13.55% | Compare |
| MTUS Metallus Inc. | $650.2M | 27.4× | 27.3× | +10.23% (above 0%: growing) | +202.58% (above 0%: growing) | +1.56% (above 0%: growing) | 10.77% | 9.49% | Compare |
| FRD Friedman Industries Inc. | $256.1M | 6.2× | 5.0× | +88.21% (above 0%: growing) | +584.37% (above 0%: growing) | +403.27% (above 0%: growing) | 0.00% | 12.75% | Compare |
| Median of peers | $2.7B | 17.0× | 27.3× | +18.01% | +145.04% | +110.36% | 18.56% | 12.59% |
Pay and ownership Proxy statement filed 14 August 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 7.19m | 12.62m | 199.00 |
| 2025 | 5.33m | 2.08m | 115.00 |
| 2024 | 8.59m | 9.24m | 149.00 |
Ownership
Directors and executive officers, together
2.70%
John P. McConnell
33.60%
BlackRock, Inc.
9.80%
Dimensional Fund Advisors LP
5.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Worthington Steel, Inc. (WS) Latest News
28 Oct
7 Oct
6 Oct
8 Sep
25 Jun
WS metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Altman Z-score
- Beneish M-score