WS

MKT CAP:$2B

Worthington Steel, Inc.

Market Cap

$2B

Basic Materials·Steel·🇺🇸 United States·NYSE

Materials·Steel·🇺🇸·NYSE

Stock Price

$32.81-$2.33 (-6.63%)

Apr 17, 2026

Company Details

Worthington Steel, Inc. operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-...

CEO

Geoffrey G. Gilmore

IPO Date

Dec 4, 2023

Website

www.worthingtonsteel.com

Key Metrics TTM

Revenue

$3.4B

— YoY

Net Income

$92M

EPS (Diluted)

$1.84

Free Cash Flow

$209M

Revenue / Share

$68.23

Gross Margin

10.4%

Operating Margin

3.7%

Net Margin

2.7%

FCF Margin

6.2%

P/S

0.6x

P/E

20.4x

Earnings Reports

FY 2024

Aug 2, 2024

$3.4BEPS $3.11

Q4 2024

Aug 2, 2024

$911MEPS $1.06

Q3 2024

Apr 12, 2024

$806M+3.2%EPS $0.99

Q3 2023

Feb 27, 2023

$781MEPS $0.11

Q2 2023

Nov 29, 2022

$868MEPS -$0.32

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 23	$868M	$35M	-$20M
Q3 23	$781M	$63M	$10M
Q3 24	$806M	$120M	$66M
Q4 24	$911M	$131M	$67M

Valuation

Quarter	P/S	P/E
Q2 23	—	—
Q3 23	—	—
Q3 24	—	—
Q4 24	0.5x	17.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 23	$103M	$89M
Q3 23	$118M	$107M
Q3 24	$45M	$22M
Q4 24	$36M	-$9M

Capital Expenditures

Quarter	CapEx
Q2 23	$15M
Q3 23	$11M
Q3 24	$22M
Q4 24	$45M

CapEx

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 23	$3M	0.3%
Q3 23	$3M	0.3%
Q3 24	$2M	0.3%
Q4 24	$2M	0.2%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 23	—	—	$51M
Q3 23	—	—	$50M
Q3 24	—	—	$53M
Q4 24	$63M	$800.0K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$0	$0	$0
Q4 23	$33M	$0	$33M
Q1 24	$27M	$0	$27M
Q2 24	$214M	$0	$214M
Q3 24	$61M	$0	$61M
Q4 24	$40M	$0	$40M
Q1 25	$36M	$0	$36M
Q2 25	$52M	$0	$52M
Q3 25	$63M	$0	$63M
Q4 25	$38M	$0	$38M
Q1 26	$78M	$0	$78M
Q2 26	$90M	$0	$90M
Q3 26	$90M	$0	$90M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 23	49M	—	—
Q3 23	49M	0.0%	—
Q3 24	49M	+0.0%	—
Q4 24	49M	+0.1%	—

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 23	—	—
Q3 23	—	—
Q3 24	—	—
Q4 24	$198.0K	5K

Revenue / Employee