Skip to content
Worthington Steel logo

Worthington Steel

WS

Worthington Steel is a leading North America-based value-added metals processor specializing in carbon flat-rolled steel, electrical steel laminations, and laser-welded solutions.

Market cap
$1.75B+15.6%
Revenue$3.4B+11.3%
Net income$149.8M+35.3%
Free cash flow$80.0M-19.9%
EPS (diluted)$2.44+11.9%
Trailing twelve months · change vs. prior year

Earnings

Next report

Sep 30, 2026 (in 2 months)
Revenue estimate$2.0B
EPS estimate$1.16

Financials

Q4 2026

Income statement

See full
Revenue$929.2M+11.6%
Gross profit$118.8M-6.5%
Operating income$74.5M+12.2%
Net income$83.8M+50.4%
EPS (diluted)$1.15+4.5%

Balance sheet

See full
Cash & equivalents$84.6M+123%
Total debt$318.9M+39.9%
Total assets$2.3B+14.8%

Cash flow

See full
Operating cash flow$44.9M-16.7%
CapEx$37.1M-18.5%
Free cash flow$7.8M-7.1%

Valuation & ratios

Valuation

See full
Market cap$1.75B+15.6%
Enterprise value$1.99B+14.1%
P/E11.7×-2.3×
P/S0.5×0.0×

Profitability

See full
Gross margin11.7%-0.9pp
Operating margin4.3%-0.5pp
Net margin4.3%+0.8pp
FCF margin2.3%-0.9pp

Returns & leverage

See full
Current ratio1.5×-0.2×

Competitors

Profile

Worthington Steel is a leading North America-based value-added metals processor specializing in carbon flat-rolled steel, electrical steel laminations, and laser-welded solutions. The company operates as an independent intermediate processor, purchasing raw steel coils to transform them into high-precision products tailored to specific customer requirements across diverse industrial end markets.

Competitive position

One of the largest independent intermediate processors of carbon flat-rolled steel in the U.S., distinguished by its technical metallurgical expertise and proximity to major industrial customers.

GeographiesUnited States, Canada, Mexico, China, India, Germany, Italy, France, Slovakia, Switzerland
Customer segmentsAutomotive, Construction, Agriculture, Energy Infrastructure, Heavy Machinery
Business modelValue-added manufacturing, Toll processing, Direct sales
SuppliersPrimary steel mills, Zinc suppliers, Aluminum suppliers, Energy providers
CustomersAutomotive OEMs, Construction contractors, Industrial equipment manufacturers, Appliance manufacturers, Steel service centers
Listed2023
CEOGeoffrey G. Gilmore
IndustrySteel
FilingsSEC EDGAR

Questions, answered.

What is Worthington Steel's market cap?
Worthington Steel (WS) has a market capitalization of $1.8B and trades on NYSE.
What is Worthington Steel's revenue and profitability?
Worthington Steel generated $3.4B in trailing twelve-month revenue with net income of $149.8M, representing a net margin of 4.3%. Gross margin stands at 11.7%, with free cash flow of $80.0M. These figures are based on the Q2 2026 filing.
Who are Worthington Steel's competitors?
Worthington Steel's key competitors include Reliance, Inc., Metallus Inc., Cleveland-Cliffs Inc., and others. These companies compete in similar markets and product categories.
Who does Worthington Steel partner with?
Worthington Steel's notable partners include Cleveland-Cliffs Steel Inc., Nucor Corporation, Steel Dynamics, Inc., and others.
What subsidiaries does Worthington Steel have?
Worthington Steel's subsidiaries include Tempel Steel Company, LLC, Sitem S.p.A., TWB Company, L.L.C., and others.
Where is Worthington Steel headquartered?
Worthington Steel is headquartered in United States of America. It has been publicly traded since 2023.