Worthington Steel (WS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Worthington Steel

NYSE•Basic Materials•Steel

$33.33-0.43(-0.01%)After hours

Market Cap

$1.66B

P/E

195.7x

P/S

0.5x

P/B

1.6x

Worthington Steel, Inc., together with its subsidiaries, operates as a steel processor in the United States, Canada, Mexico, and internationally. The company offers carbon flat-rolled steel processing services, including pickling, specialty re-rolling, hot dip galvanizing, blanking, slitting, and cutting-to-length; laser welded solutions; precision magnetic steel laminations for the automotive, industrial motor, generator, and transformer industries; tailor and aluminum tailor welded blanks; steel toll processing services for steel mills, large end-users, and service centers; and automotive and electrical steel lamination stampings. It serves the automotive, construction, machinery and equipment, agriculture, heavy truck, and energy sectors. Worthington Steel, Inc. was incorporated in 2023 and is headquartered in Columbus, Ohio.

How this company scores

AverageMetricSide Score: 44/100

Strongest: Balance Sheet & Red Flags (16/25); weakest: Profitability (2/25).

Profitability2/25

Growth11/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality15/25

Strengths

Low leverageCash-backed earningsNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 195.7x5y range 8.4x – 195.7x

Currently above its 8-quarter median.

P/S · 0.5x5y range 0.3x – 0.6x

Currently near its 8-quarter median.

P/B · 1.6x5y range 1.1x – 2.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 97.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $1.66B

Metrics at a Glance

as of May 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.44B
Q. Revenue: $929.20M
TTM EBITDA: $82.80M
TTM Op. Income: $-1.40M
Q. Op. Income: $-74.50M
TTM Net Income: $8.50M
Q. Net Income: $-57.50M
EPS: $-1.152
Shares Out.: $49.90M

$3.44B in TTM revenue grew 11.3% YoY, reaching $929.20M last quarter. TTM EBITDA of $82.80M and TTM operating income of $-1.40M show growth is flowing through to the bottom line. TTM net income of $8.50M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 12.8%
EBITDA Margin: -5.8%
Op. Margin: -8.0%
Net Margin: -6.2%

Op. margin of -8.0% is down 16.0% YoY — costs are rising relative to revenue. Net margin at -6.2% and gross margin of 12.8% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 4 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 195.7x
P/S Ratio: 0.5x
P/B Ratio: 1.6x

At 195.7x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 0.5x and P/B of 1.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.25B
Cash: $84.60M
Long-Term Debt: $44.40M
Book Value: $1.06B
D/E Ratio: 0.0
Debt/EBITDA: N/A

With $2.25B in assets and $44.40M in long-term debt, D/E is 0.0and book value is $1.06B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 1850% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $44.90M
TTM Free Cash Flow: $80.00M
FCF Margin: 2.3%
FCF / Net Income: 9.4

TTM FCF of $80.00M on $44.90M in operating cash flow. The FCF / Net Income ratio of 9.4x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 20% — a weakening trend.