What is Worthington Steel's net debt?

Worthington Steel (WS) reported net debt of $235.5M in Q4 2025.

How has Worthington Steel's net debt changed year-over-year?

Worthington Steel's net debt increased by 87.1% year-over-year, from $125.9M to $235.5M.

What is the long-term trend for Worthington Steel's net debt?

Over 2 years (2023 to 2025), Worthington Steel's net debt has grown at a 99.5% compound annual growth rate (CAGR), from $47.7M to $189.9M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Worthington Steel WS Net debt

Discontinued — last reported Q3 '26

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Other financials

Income statement

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Revenue$769.8M+12.0%

Gross profit$76.1M-6.3%

Operating income$3.1M-83.1%

Net income$10.4M-24.6%

EPS (diluted)$0.20-25.9%

Balance sheet

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Cash & equivalents$90.0M+42.2%

Total debt$325.5M+72.0%

Total equity$1.1B+11.1%

Total assets$2.3B+28.7%

Cash flow

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Operating cash flow$63.3M+17.7%

CapEx$30.0M+4.9%

Free cash flow$33.3M+32.1%

Valuation

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Market cap$2.02B+56.0%

Enterprise value$2.26B+58.6%

P/E16.6×+4.6×

P/S0.6×+0.2×

Profitability

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Gross margin12.3%-0.1pp

Operating margin4.2%-0.5pp

Net margin3.6%+0.2pp

FCF margin2.4%-0.5pp

Returns & leverage

See full

Return on equity11.4%+0.3pp

Debt / equity0.3×+0.1×

Current ratio1.5×-0.3×

Where this comes from

Calculated from Worthington Steel’s reported figures.

$325.5Mtotal debt−$90.0Mcash and equivalents=$235.5M

The official record: Worthington Steel’s 10-Q, filed April 9, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Worthington Steel's net debt?: Worthington Steel (WS) reported net debt of $235.5M in Q4 2025.
How has Worthington Steel's net debt changed year-over-year?: Worthington Steel's net debt increased by 87.1% year-over-year, from $125.9M to $235.5M.
What is the long-term trend for Worthington Steel's net debt?: Over 2 years (2023 to 2025), Worthington Steel's net debt has grown at a 99.5% compound annual growth rate (CAGR), from $47.7M to $189.9M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.