WORTHINGTON ENTERPRISES, INC. WOR
Founded in 1955, we are one of the leading designers and manufacturers of products sold to consumers, primarily through retail channels, in the tools, outdoor living and celebrations market categories as well as a wide array of highly specialized building products that primarily serve customers in the residential and non-residential construction markets, including ceiling suspension systems and light gauge metal framing products, respectively, through our unconsolidated joint ventures, WAVE and ClarkDietrich, as well as wholly-owned and consolidated operations that produce pressurized containment solutions for heating, cooking and cooling applications, among others. Our business strategy is rooted in our people first culture that values our relationships across the spectrum and revolves around products and services that improve everyday life by elevating spaces and experiences. Originally founded as a value-added steel processor, we expanded our offerings to include manufactured metal products organized around attractive end markets under two separate and distinct reportable operating segments: Building Products and Consumer Products.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.38B | $1.15B | $1.25B | $1.42B | $1.31B | $3.17B | $3.06B | $3.76B | $3.58B | $3.01B |
| Cost of revenue | $1.00B | $834.7M | $960.7M | $1.09B | $981.6M | $2.53B | $2.62B | $3.28B | $3.02B | $2.48B |
| Gross profit | $378.3M | $319.0M | $285.0M | $323.6M | $327.6M | $639.1M | $443.3M | $480.0M | $562.9M | $535.9M |
| SG&A | $295.0M | $268.4M | $283.5M | $287.1M | $281.4M | $351.1M | $328.1M | $338.4M | $367.5M | $316.4M |
| Operating income | $76.2M | -$10.7M | -$73.5M | $29.8M | $48.8M | $167.5M | $22.5M | $144.8M | $141.6M | $213.1M |
| Interest expense | $6.2M | $2.1M | $1.6M | $18.3M | $23.9M | $30.3M | $31.6M | $38.1M | $38.7M | $29.8M |
| Pre-tax income | $201.3M | $128.8M | $74.0M | $160.3M | $210.6M | $917.7M | $110.8M | $206.5M | $209.1M | $297.1M |
| Income tax | $46.3M | $33.8M | $39.0M | $34.5M | $52.7M | $176.3M | $26.3M | $43.2M | $8.2M | $79.2M |
| Net income | $155.0M | $95.0M | $118.0M | $269.0M | $399.0M | $723.8M | $78.8M | $153.5M | $194.8M | $204.5M |
| EPS, basic | 3.18 | 1.94 | 2.25 | 5.28 | 7.60 | 13.73 | 1.43 | 2.68 | 3.20 | 3.28 |
| EPS, diluted | 3.14 | 1.92 | 2.20 | 5.19 | 7.44 | 13.42 | 1.41 | 2.61 | 3.09 | 3.15 |
| Shares, diluted (wtd. avg.) | $49.7M | $50.1M | $50.3M | $49.4M | $51.0M | $53.9M | $56.0M | $58.8M | $63.0M | $64.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $27.7M | $250.1M | $244.2M | $454.9M | $34.5M | $640.3M | $147.2M | $92.4M | $122.0M | $278.1M |
| Receivables | $228.2M | $215.8M | $199.8M | $224.9M | $857.5M | $640.0M | $341.0M | $501.9M | $572.7M | $486.7M |
| Inventory | $207.3M | $169.4M | $164.6M | $194.5M | $759.1M | $564.8M | $405.1M | $484.3M | $454.0M | $353.9M |
| Total current assets | $524.5M | $685.4M | $673.9M | $1.87B | $1.79B | $1.97B | $983.2M | $1.17B | $1.24B | $1.19B |
| Property, plant and equipment | $310.9M | $270.2M | $227.2M | $256.4M | $696.3M | $515.0M | $572.6M | $578.7M | $585.0M | $570.5M |
| Goodwill | $500.8M | $376.5M | $331.6M | $336.2M | $321.4M | $351.1M | $321.4M | $334.6M | $345.2M | $247.7M |
| Other intangibles | $322.8M | $190.4M | $221.1M | $230.9M | $299.0M | $240.4M | $184.4M | $196.1M | $214.0M | $82.8M |
| Total assets | $1.85B | $1.70B | $1.64B | $3.65B | $3.64B | $3.37B | $2.33B | $2.51B | $2.62B | $2.33B |
| Accounts payable | $115.2M | $103.2M | $91.6M | $126.7M | $668.4M | $567.4M | $247.0M | $393.5M | $473.5M | $368.1M |
| Short-term debt | — | — | — | $264.0K | $265.0K | $458.0K | $149.0K | $150.9M | $1.5M | $6.7M |
| Total current liabilities | $221.4M | $196.8M | $178.4M | $717.6M | $932.3M | $787.9M | $388.2M | $698.0M | $646.9M | $520.8M |
| Long-term debt | $305.9M | $302.9M | $298.1M | $689.7M | $696.3M | $710.0M | $699.5M | $598.4M | $748.9M | $571.8M |
| Total liabilities | $821.0M | $756.9M | $747.6M | $1.83B | $2.03B | $1.82B | $1.37B | $1.56B | $1.59B | $1.25B |
| Retained earnings | $704.1M | $624.5M | $589.4M | $1.43B | $1.23B | $1.07B | $572.3M | $591.5M | $637.8M | $676.0M |
| Total equity | $1.03B | $937.2M | $891.0M | $1.82B | $1.61B | $1.55B | $966.4M | $948.4M | $1.04B | $1.07B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $226.1M | $209.7M | $290.0M | $625.4M | $70.1M | $274.4M | $336.7M | $197.9M | $281.3M | $335.7M |
| Depreciation and amortisation | $38.9M | $34.5M | $36.8M | $34.0M | $32.4M | $74.8M | $79.4M | $80.3M | $83.7M | $73.3M |
| Capital expenditure | $55.9M | $50.6M | $83.5M | $86.4M | $94.6M | $82.2M | $95.5M | $84.5M | $76.1M | $68.4M |
| Investing cash flow | -$360.1M | -$135.1M | -$140.8M | -$71.8M | -$438.2M | $468.5M | -$116.2M | $11.5M | -$337.4M | -$63.0M |
| Financing cash flow | -$88.4M | -$68.8M | -$359.9M | -$133.1M | -$237.8M | -$249.8M | -$165.7M | -$238.9M | -$100.1M | -$78.8M |
| Dividends paid | $36.9M | $33.9M | $56.8M | $59.2M | $57.2M | $53.0M | $53.3M | $52.3M | $51.4M | $50.7M |
| Buybacks | $43.7M | $30.9M | — | — | $180.2M | $192.1M | $51.0M | $168.1M | $204.3M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-348765.
Others in SIC 3310
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| WS | Worthington Steel, Inc. | $1.84B | 212.8x | 11.3% |
| ROCK | GIBRALTAR INDUSTRIES, INC. | $1.40B | — | 11.0% |
| IIIN | INSTEEL INDUSTRIES INC | $605.1M | 14.9x | 22.4% |
| FRD | FRIEDMAN INDUSTRIES INC | $328.9M | — | — |
| SID | NATIONAL STEEL CO | — | — | — |
| GGB | GERDAU S.A. | — | — | — |