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

$40.83-0.41(-0.01%)Pre-market

Market Cap

$2.03B

P/S

0.4x

P/B

2.0x

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: 54/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (6/25).

Profitability11/25

Growth14/25

Balance Sheet & Red Flags6/25

Cash & Earnings Quality23/25

Strengths

Growing revenueRising free cash flowLong cash runwayCash-backed earnings

Valuation vs. 5-year range

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

P/E · 247.7x5y range 8.4x – 247.7x

Currently above its 8-quarter median.

P/S · 0.4x5y range 0.3x – 0.6x

Currently near its 9-quarter median.

P/B · 2.0x5y 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 116.4% 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 $2.03B

Metrics at a Glance

as of August 2026

Revenue & Profit

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

TTM Revenue: $5.30B
Q. Revenue: $2.73B
TTM EBITDA: $98.00M
TTM Op. Income: $6.30M
Q. Op. Income: $56.00M
TTM Net Income: $-38.30M
Q. Net Income: $-10.00M
EPS: $-0.2
Shares Out.: $50.00M

$5.30B in TTM revenue grew 69.1% YoY, reaching $2.73B last quarter. TTM EBITDA of $98.00M and TTM operating income of $6.30M show growth is flowing through to the bottom line. However, net income is negative at $38.30M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 9.6%
EBITDA Margin: 3.1%
Op. Margin: 2.1%
Net Margin: -0.4%

Op. margin of 2.1% is down 3.5% YoY — costs are rising relative to revenue. Net margin at -0.4% and gross margin of 9.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 63% — an improving trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 0.4x
P/B Ratio: 2.0x

P/S of 0.4x and P/B of 2.0x. P/S is low relative to typical market levels. Across the last 7 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

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

Total Assets: $6.02B
Cash: $248.20M
Long-Term Debt: $1.65B
Book Value: $1.03B
D/E Ratio: 1.6
Debt/EBITDA: 19.7

With $6.02B in assets and $1.65B in long-term debt, D/E is 1.6and book value is $1.03B — moderate leverage. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

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

Op. Cash Flow: $-6.00M
TTM Free Cash Flow: $46.70M
FCF Margin: 0.9%
FCF / Net Income: -1.2

TTM FCF of $46.70M on $-6.00M in operating cash flow. The FCF / Net Income ratio of -1.2x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.