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Worthington Steel, Inc. operates as a steel processor in North America. The company offers carbon flat-rolled steel and tailor welded blanks, as well as automotive and electrical steel lamination stampings; and aluminum tailor welded blanks. It serves automotive, construction, machinery and equipment, heavy truck, agriculture, and energy sectors. The company was incorporated in 2023 and is headquartered in Columbus, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.1B | $221M | $111M | $100M | 10.3% | -9.8% | -28.4% |
| 2024 | $3.4B | $288M | $155M | $96M | 15.7% | -4.9% | 77.6% |
| 2023 | $3.6B | $201M | $87M | $270M | 8.5% | -11.3% | -51.7% |
| 2022 | $4.1B | $317M | $180M | $3M | 15.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,068.90 | 3,607.70 | 3,430.60 | 3,093.30 |
| Cost Of Revenue | - | 3,673.40 | 3,271.20 | 2,990.80 | 2,704.70 |
| Gross Profit | - | 395.50 | 336.50 | 439.80 | 388.60 |
| Operating Expense | - | 180.30 | 200.80 | 224.40 | 231.60 |
| Operating Income | - | 215.20 | 135.70 | 215.40 | 157 |
| EBITDA | - | 316.80 | 201.30 | 287.50 | 221.20 |
| EBIT | - | 257.30 | 131.70 | 222.20 | 155.20 |
| Pretax Income | - | 254.30 | 128.70 | 216.20 | 148.10 |
| Tax Provision | - | 54 | 29 | 46.10 | 28.80 |
| Net Income | - | 180.40 | 87.10 | 154.70 | 110.70 |
| Net Income Common Stockholders | - | 180.40 | 87.10 | 154.70 | 110.70 |
| Total Expenses | - | 3,853.70 | 3,472 | 3,215.20 | 2,936.30 |
| Interest Expense | - | 3 | 3 | 6 | 7.10 |
| Selling General And Administration | - | 180.30 | 200.80 | 224.40 | 231.60 |
| Normalized EBITDA | - | 305.40 | 216.70 | 308.40 | 231.20 |
| Normalized Income | - | 171.42 | 98.65 | 170.79 | 118.64 |
| Market Cap | 1,917.43 | 1,917.43 | 1,917.43 | 1,917.43 | 1,917.43 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Worthington Steel, Inc.this co. | WS | $1.9B | 17.32↑ premium | 1.79 | 10.3% | 9.53 |
| Tecnoglass Inc. | TGLS | $2.0B | 12.42 | 2.66 | 22.4% | 7.59 |
| Ivanhoe Electric Inc. | IE | $1.9B | - | 4.30 | -25.0% | -16.78 |
| Innospec Inc. | IOSP | $1.9B | 16.47 | 1.45 | 8.8% | 8.41 |
| Sylvamo Corporation | SLVM | $1.7B | 12.40 |
| - |
| - |
| - |
| - |
| - |
| 1.69 |
| 13.7% |
| - |
| Ecovyst Inc. | ECVT | $1.5B | 279.40 | 2.59 | -11.8% | 11.58 |
| Tronox Holdings plc | TROX | $1.5B | - | 1.08 | -32.4% | 17.20 |
| Critical Metals Corp. | CRML | $1.5B | - | 9.60 | - | -25.14 |
| United States Antimony Corporation | UAMY | $1.4B | - | 9.90 | -3.1% | -182.70 |
| Peer Median | - | 14.44 | 2.63 | -3.1% | 7.59 | |