WS - Worthington Steel, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$38.00
DETAILS
HIGH:
$38.00
LOW:
$38.00
MEDIAN:
$38.00
CONSENSUS:
$38.00
DOWNSIDE:
5.21%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue | 3,093.3 | 3,430.6 | 3,607.7 | 4,068.9 | 2,127.4 |
| Cost of Revenue | 2,704.7 | 2,990.8 | 3,271.2 | 3,673.4 | 1,756.6 |
| Gross Profit | 388.6 | 439.8 | 336.5 | 395.5 | 370.8 |
| Operating Expenses | |||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 231.6 | 224.4 | 200.8 | 180.3 | 147.4 |
| Other Expenses | 10 | 20.9 | 15.4 | (11.4) | 1.9 |
| Operating Expenses | 241.6 | 245.3 | 216.2 | 168.9 | 149.3 |
| Operating Income | |||||
| Operating Income | 147 | 194.5 | 120.3 | 226.6 | 221.5 |
| Interest Expense | 7.1 | 6 | 3 | 3 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0.0 |
| Profitability | |||||
| EBITDA | 221.2 | 287.5 | 201.3 | 316.8 | 268.4 |
| EBIT | 155.2 | 222.2 | 131.7 | 257.3 | 223.4 |
| Income Before Tax | 148.1 | 216.2 | 128.7 | 254.3 | 237.2 |
| Income Tax Expense | 28.8 | 46.1 | 29 | 54 | 48.5 |
| Net Income | 110.7 | 154.7 | 87.1 | 180.4 | 171.0 |
| Per Share Data | |||||
| EPS (Basic) | 2.24 | 3.14 | 1.77 | 3.66 | 3.42 |
| EPS (Diluted) | 2.19 | 3.11 | 1.77 | 3.66 | 3.42 |
| Shares Outstanding | 49.5 | 49.3 | 50.0 | 50.0 | 50.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Current Assets | |||||
| Cash & Cash Equivalents | 38 | 40.2 | 32.7 | 20.1 | 17.5 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 438.8 | 476.8 | 472.3 | 600.9 | 405.2 |
| Inventory | 422 | 405.3 | 414.8 | 569.5 | 442.9 |
| Other Current Assets | 149.7 | 79.5 | 61.1 | 76.7 | 74.5 |
| Total Current Assets | 1,048.5 | 1,001.8 | 980.9 | 1,267.1 | 940.1 |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 620.8 | 547.7 | 489.7 | 511.1 | 283.6 |
| Goodwill | 79.6 | 79.6 | 78.6 | 80.0 | 20.2 |
| Intangible Assets | 67.9 | 77 | 83.4 | 89.7 | 17.4 |
| Long-Term Investments | 126.6 | 135 | 114.6 | 119.3 | 92.0 |
| Other Non-Current Assets | 7 | 16.8 | 10.9 | 12.8 | 11.6 |
| Total Non-Current Assets | 913.3 | 864.6 | 783.5 | 816.9 | 426.5 |
| Total Assets | 1,961.8 | 1,866.4 | 1,764.4 | 2,084.0 | 1,366.7 |
| Current Liabilities | |||||
| Account Payables | 402.5 | 380.4 | 402.2 | 524.1 | 452.3 |
| Short-Term Debt | 149.2 | 148 | 2.8 | 63.0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 20 | 0 | 0 |
| Total Current Liabilities | 631.5 | 618.4 | 478.4 | 657.9 | 506.1 |
| Non-Current Liabilities | |||||
| Long-Term Debt | 2.3 | 0 | 0 | 20 | 0 |
| Deferred Tax Liabilities | 28.6 | 27.9 | 26.1 | 35.5 | 34.1 |
| Other Non-Current Liabilities | 32.8 | 34.3 | 33.6 | 39.0 | 6.5 |
| Total Non-Current Liabilities | 132.4 | 130.5 | 131.4 | 159.7 | 45.7 |
| Total Liabilities | 763.9 | 748.9 | 609.8 | 817.7 | 551.8 |
| Stockholders' Equity | |||||
| Common Stock | 0 | 0 | 1,031.1 | 1,131.3 | 622.9 |
| Retained Earnings | 164.2 | 86.1 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | (4) | (6.1) | (2.1) | 1.8 | 38.4 |
| Total Stockholders' Equity | 1,074.1 | 985.3 | 1,029 | 1,133.2 | 661.3 |
| Total Liabilities & Equity | 1,961.8 | 1,866.4 | 1,764.4 | 2,084.0 | 1,366.7 |
| Debt Metrics | |||||
| Total Debt | 227.9 | 223.9 | 80.4 | 153.9 | 8.1 |
| Net Debt | 189.9 | 183.7 | 47.7 | 133.8 | (9.4) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 119.3 | 154.7 | 99.7 | 200.3 | 188.7 |
| Depreciation & Amortization | 66 | 65.3 | 69.6 | 59.5 | 45.0 |
| Stock-Based Compensation | 11 | 10.3 | 10.4 | 8.7 | 10.1 |
| Change in Working Capital | 20.2 | (30.4) | 139.9 | (204.0) | (72.7) |
| Other Non-Cash Items | 16.9 | (1.5) | 5.2 | (38.6) | (13.3) |
| Operating Cash Flow | 230.3 | 199.5 | 315.0 | 39.5 | 152.6 |
| Investing Activities | |||||
| Capital Expenditure | (130.4) | (103.4) | (45.5) | (36.4) | (28.8) |
| Acquisitions | 0 | (28.6) | 0 | (383.5) | 0.9 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 1.3 | 0 | 23.3 | 24.6 | 0.2 |
| Investing Cash Flow | (129.1) | (132) | (22.2) | (395.3) | (27.7) |
| Financing Activities | |||||
| Net Debt Issuance | 3.5 | 145.2 | (60.2) | 76.7 | 0 |
| Stock Repurchased | (3.1) | 0 | 0 | 0 | 0 |
| Dividends Paid | (31.9) | (7.9) | 0 | 0 | 0 |
| Other Financing Activities | (17) | (197.6) | (220.0) | 281.7 | (10.7) |
| Financing Cash Flow | (48.5) | (60) | (280.2) | 358.4 | (116.7) |
| Cash Position | |||||
| Net Change in Cash | 52.7 | 7.5 | 12.6 | 2.6 | 8.2 |
| Cash at Beginning | 40.2 | 32.7 | 20.1 | 17.5 | 9.3 |
| Cash at End | 92.9 | 40.2 | 32.7 | 20.1 | 17.5 |
| Free Cash Flow | 99.9 | 96.1 | 269.5 | 3.0 | 123.7 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 3,093.3 | 3,430.6 | 3,607.7 | 4,068.9 | 2,127.4 |
| Gross Profit | 388.6 | 439.8 | 336.5 | 395.5 | 370.8 |
| Operating Income | 147 | 194.5 | 120.3 | 226.6 | 221.5 |
| Net Income | 110.7 | 154.7 | 87.1 | 180.4 | 171.0 |
| EPS (Diluted) | 2.19 | 3.11 | 1.77 | 3.66 | 3.42 |
| Balance Sheet | |||||
| Cash & Equivalents | 38 | 40.2 | 32.7 | 20.1 | 17.5 |
| Total Assets | 1,961.8 | 1,866.4 | 1,764.4 | 2,084.0 | 1,366.7 |
| Total Debt | 227.9 | 223.9 | 80.4 | 153.9 | 8.1 |
| Stockholders' Equity | 1,074.1 | 985.3 | 1,029 | 1,133.2 | 661.3 |
| Cash Flow | |||||
| Operating Cash Flow | 230.3 | 199.5 | 315.0 | 39.5 | 152.6 |
| Capital Expenditure | (130.4) | (103.4) | (45.5) | (36.4) | (28.8) |
| Free Cash Flow | 99.9 | 96.1 | 269.5 | 3.0 | 123.7 |