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NYSE · Materials

Worthington Steel, Inc. (WS)

As-reported financials and SEC filings for Worthington Steel, Inc. The latest annual period is FY2026. The latest reported quarter is Q4 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Worthington Steel, Inc.

Worthington Steel, Inc. is a North American metals processor specializing in carbon flat-rolled steel and producing laser welded solutions and electrical steel laminations. The company processes steel coils to customer specifications and serves industries including automotive, construction, machinery, agriculture, and heavy trucks. Worthington Steel operates manufacturing facilities in the U.S., Canada, China, India, Germany, and Mexico, and provides value-added steel processing services such as pickling, galvanizing, slitting, and cutting.

Snapshot

Revenue
$3.44B
Revenue growth (YoY)
11.3%
Net income
$8.5M
Diluted EPS
$0.17
Gross margin
11.7%
Operating margin
-0.0%
Net margin
0.2%
FCF margin
2.3%
ROE
net income / fiscal-year-end equity
P/E
202.6×
trailing when available, otherwise FY EPS
Market cap
$1.76B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2026, the latest annual period (ended May 31, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Worthington Steel

  • Revenue grew 11.3% to $3.4B in FY2026, after a 9.8% decline the year before.
  • Operating margin is now a 0.0% loss in FY2026, from 5.6% in FY2022.
  • Most recent quarter Q4 FY2026: revenue $929M, up 11.6% from Q4 FY2025.
  • Free cash flow was $80M in FY2026, 2.3% of revenue.
  • Net income fell 92.3% to $9M in FY2026.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Worthington Steel’s fundamentals sit among the 241 Materials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin11.7%
15th percentile of 191
Operating margin-0.0%
33rd percentile of 189
Net margin0.2%
40th percentile of 221
FCF margin2.3%
39th percentile of 205
Revenue growth (YoY)+11.3%
76th percentile of 236
P/E202.6×
98th percentile of 134
Short interest7.66d
87th percentile of 238

Worthington Steel’s P/E of 202.6 ranks in the 98th percentile of the 134 peers with a meaningful P/E. Worthington Steel’s gross margin of 11.7% ranks in the 15th percentile of the 191 Materials companies reporting it.

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+5 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
2
1 trimmed, 1 exited
Combined position
$14.5M
reported long value
InvestorAs ofPosition valueSharesChange
Renaissance TechnologiesquantQ2 2026$6.4M191.1KAdded
Citadel AdvisorsquantQ2 2026$4.2M126.5KAdded
AQR Capital ManagementquantQ2 2026$1.8M54.4KAdded
D. E. ShawquantQ2 2026$1.1M31.6KNew
Two Sigma InvestmentsquantQ2 2026$908,20527.0KReduced

No longer held by: Millennium Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
0
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-02
filed 2026-06-03
KLINGLER JEFFREY RChief Operating OfficerSell14.0K$43.52$610K
2026-06-02
filed 2026-06-03
KLINGLER JEFFREY RChief Operating OfficerSell6.0K$44.53$268K
2026-06-01
filed 2026-06-03
ADAMS TIMOTHY AChief Financial OfficerSell1.3K$42.77$54K
2026-06-01
filed 2026-06-03
ADAMS TIMOTHY AChief Financial OfficerSell1.1K$41.70$46K
2026-06-01
filed 2026-06-03
KLINGLER JEFFREY RChief Operating OfficerSell200$43.00$9K
2026-05-22
filed 2026-05-27
Larivey CliffordPresident Flat Rolled Stl ProcSell11.1K$40.09$445K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
1.4M
settled 2026-08-14
Change vs prior
-1.8%
vs previous settlement
Days to cover
7.66
at avg daily volume
Avg daily volume
183.3K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-141.4M-1.8%7.66
2026-07-311.4M-11.6%6.21
2026-07-151.6M+2.5%5.65
2026-06-301.6M-0.3%2.87
2026-06-151.6M-0.9%6.62
2026-05-291.6M+3.8%7.31
2026-05-151.5M-10.8%6.38
2026-04-301.7M+3.3%8.13

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2026FY2025FY2024FY2023FY2022
Revenue$3.44B$3.09B$3.43B$3.61B$4.07B
Gross profit$403.3M$388.6M$439.8M$336.5M$395.5M
Operating income$-1.4M$147.0M$194.5M$120.3M$226.6M
Net income$8.5M$110.7M$154.7M$87.1M$180.4M
Diluted EPS$0.17$2.19$3.11$1.77$3.66

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2026FY2025FY2024FY2023FY2022
Cash and equivalents$84.6M$38.0M$40.2M$32.7M$20.1M
Current assets$1.13B$1.05B$1.00B$980.9M
Total assets$2.25B$1.96B$1.87B$1.76B
Current liabilities$775.8M$631.5M$618.4M$478.4M
Long-term debt$44.4M$2.3M$0$0
Total liabilities$989.5M$763.9M$748.9M$609.8M
Total equity$1.20B$1.20B$1.12B$1.15B$1.27B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2026FY2025FY2024FY2023FY2022
Operating cash flow$201.2M$230.3M$199.5M$315.0M$39.5M
Capital expenditure$121.2M$130.4M$103.4M$45.5M$36.4M
Free cash flow$80.0M$99.9M$96.1M$269.5M$3.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q4 FY2026$929.2M11.6%$-57.5M$-1.13
Q3 FY2026$769.8M12.0%$10.4M$0.20
Q2 FY2026$871.9M18.0%$18.8M$0.37
Q1 FY2026$872.9M4.7%$36.8M$0.72
Q4 FY2025$832.9M-8.6%$55.7M$1.10
Q3 FY2025$687.4M-14.7%$13.8M$0.27
Q2 FY2025$739.0M-8.5%$12.8M$0.25
Q1 FY2025$834.0M-7.9%$28.4M$0.56

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorMaterials
SIC industrySteel Works, Blast Furnaces & Rolling & Finishing Mills
Latest annual periodFY2026 (ended May 31, 2026)
Latest reported quarterQ4 FY2026 (ended May 31, 2026)
Oldest indexed filing2023
SEC CIK1968487

Selected SEC filings

10-K2026-07-30
View on EDGAR →
10-Q2026-04-09
View on EDGAR →
10-Q2026-01-08
View on EDGAR →
10-Q2025-10-10
View on EDGAR →
8-K/A2026-08-19
View on EDGAR →
8-K2026-07-15
View on EDGAR →
8-K/A2026-07-10
View on EDGAR →
8-K2026-06-30
View on EDGAR →

Largest Materials peers

All Materials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.