Worthington Industries, Inc.
- Open
- 57.15
- Day high
- 57.41
- Day low
- 55.89
- Prev close
- 57.05
- Volume
- 133K
- Mkt cap
- $2.8B
- P/E (TTM)
- 17.8
- EPS (TTM)
- $3.19
- P/B
- 2.7
- P/S
- 2.0
- Yield
- 0.67%
- Per share
- $0.38
- ▼Insiders net selling -$8.2M over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions mixed (13F)
Worthington Industries, Inc. (WOR) is a Industrials company listed on NYSE. The stock is down 15% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4).
Worthington Industries, Inc. (WOR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WOR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 24, 2026 | $1.04 | $0.97 | -6.7% | $371M | -3.9% |
| Mar 25, 2026 | $0.95 | $0.98 | +3.2% | $379M | +8.4% |
| Dec 16, 2025 | $0.70 | $0.65 | -7.7% | $327M | +5.4% |
| Sep 23, 2025 | $0.70 | $0.74 | +5.3% | $304M | +4.1% |
| Jun 24, 2025 | $0.76 | $1.06 | +39.5% | $318M | +5.6% |
| Mar 25, 2025 | $0.70 | $0.91 | +29.6% | $305M | +5.3% |
| Dec 17, 2024 | $0.55 | $0.60 | +9.1% | $274M | +0.1% |
| Sep 24, 2024 | $0.72 | $0.50 | -30.6% | $257M | -13.1% |
| Mar 20, 2024 | $0.69 | $0.80 | +15.4% | $317M | -3.0% |
| Dec 19, 2023 | $0.81 | $0.78 | -3.7% | $1.1B | +5.0% |
| Mar 22, 2023 | $0.72 | $1.04 | +44.4% | $346M | -64.5% |
| Dec 20, 2022 | $0.56 | $0.44 | -21.4% | $1.2B | +0.3% |
WOR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 10, 2026 | CHAN KEVIN Jofficer: Controller | Grant | 4 | — |
| Aug 10, 2026 | HAYEK JOSEPH Bdirector, officer: President & CEO | Grant | 5 | — |
| Jul 27, 2026 | CHAN KEVIN Jofficer: Controller | Grant | 4 | — |
| Jul 27, 2026 | HAYEK JOSEPH Bdirector, officer: President & CEO | Grant | 5 | — |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Sell | 336 | $61.41 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Option | 55,081 | $19.65 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Sell | 8,692 | $59.91 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Sell | 18,061 | $58.79 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Sell | 17,625 | $53.04 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Sell | 38,965 | $55.82 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Option | 17,625 | $23.47 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Sell | 54,745 | $61.04 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Option | 41,704 | $26.88 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Option | 26,753 | $27.35 |
| Jul 21, 2026 | MCCONNELL JOHN P/OH10 percent owner | Sell | 2,739 | $56.35 |
Source: WOR SEC Form 4 filings, latest Aug 10, 2026. For informational purposes only — not investment advice.
See the full WOR insider & 13F page →Worthington Industries, Inc. company profile
Overview
Worthington Industries, Inc. (NYSE:WOR) is an industrial manufacturing company founded in 1955 and headquartered in Columbus, Ohio. The company has evolved from its origins as a steel processor into a diversified manufacturer focusing on value-added products across multiple industrial sectors. In 2024, Worthington completed a significant strategic transformation by spinning off its Steel Processing division into a separate public company, allowing the remaining entity to concentrate on its Consumer Products, Building Products, and Sustainable Energy Solutions segments. Today, Worthington operates as a more focused industrial manufacturer with operations in North America and internationally, emphasizing innovation, sustainability, and value-added manufacturing solutions.
Business
Worthington Industries operates as a diversified industrial manufacturer across three primary business segments following the 2024 divestiture of its Steel Processing division. Consumer Products represents the company's largest segment by revenue, generating approximately 46% of total sales. This division manufactures and markets tools, outdoor living products, and celebration items under well-known brand names including Coleman camping equipment, Bernzomatic torches, Balloon Time helium tanks, Mag-Torch welding tools, General hand tools, Garden-Weasel gardening implements, Pactool International construction tools, Hawkeye levels, Worthington Pro Grade professional tools, and Level5 drywall finishing tools. These products serve both professional contractors and do-it-yourself consumers through major retail channels including Home Depot, Lowe's, Walmart, Target, Tractor Supply, and Sherwin-Williams. Building Products accounts for approximately 54% of revenue and focuses on pressure vessel manufacturing and specialty building components. This segment produces refrigerant cylinders for HVAC systems, liquefied petroleum gas (LPG) cylinders for propane applications, well water tanks, expansion tanks for plumbing systems, and other specialized pressure vessels. The division serves gas producers, distributors, HVAC contractors, and plumbing professionals. A significant portion of revenue comes from joint venture partnerships, particularly with WAVE (Worthington Armstrong Venture) which manufactures suspended ceiling systems, and ClarkDietrich, which produces steel framing components for commercial construction. Sustainable Energy Solutions is the smallest segment, representing emerging opportunities in clean energy and alternative fuel storage. This division develops on-board fueling systems for alternative fuel vehicles, gas containment solutions for industrial gas storage and transport, and hydrogen storage systems. The company has positioned this segment to capitalize on the growing demand for clean energy infrastructure and sustainable transportation solutions. The company's manufacturing operations involve metal fabrication, pressure vessel production, tool manufacturing, and specialized assembly processes. Products range from simple hand tools to complex pressure vessels that must meet stringent safety standards for containing gases under pressure.
Revenue model
Worthington Industries generates revenue through direct product sales to retailers, distributors, and end-users across its three business segments. The company operates on a traditional manufacturing business model where it purchases raw materials, adds value through manufacturing processes, and sells finished products at a markup. In the Consumer Products segment, Worthington sells primarily to large retail chains such as Home Depot, Walmart, and Target, as well as specialty retailers like Tractor Supply. Revenue is generated through wholesale sales to these retailers, who then sell to end consumers. The company benefits from strong brand recognition and established distribution relationships that provide pricing power and shelf space advantages. The Building Products segment generates revenue through sales to gas distributors, HVAC contractors, and plumbing professionals. A significant portion of this segment's profitability comes from joint venture equity earnings, particularly from WAVE and ClarkDietrich partnerships. These joint ventures provide steady income streams with lower capital requirements compared to wholly-owned operations. The Sustainable Energy Solutions segment currently generates revenue through specialized equipment sales and services for alternative fuel applications, though this remains a developing market with limited current contribution. Several factors influence the company's margins and profitability. Steel and raw material costs represent the largest input expense, with commodity price fluctuations directly impacting gross margins. Retail consolidation creates both opportunities and challenges, as relationships with major retailers provide volume but also pricing pressure. Seasonal demand patterns affect the Consumer Products segment, with outdoor living products experiencing higher sales during spring and summer months. Construction activity levels drive demand for Building Products, making the company sensitive to interest rates and economic cycles. Energy transition trends present long-term growth opportunities for Sustainable Energy Solutions but require ongoing investment. Labor availability and wage inflation impact manufacturing costs, while supply chain disruptions can affect both input costs and delivery capabilities.
Competitive moat
Worthington Industries possesses a moderate competitive moat built primarily on brand recognition, distribution relationships, and specialized manufacturing capabilities, though this moat faces ongoing challenges from larger competitors and market dynamics. The company's strongest competitive advantage lies in its established brand portfolio and retail relationships. Brands like Coleman, Bernzomatic, and Balloon Time have significant consumer recognition and established shelf space at major retailers. These relationships create barriers for new entrants and provide negotiating leverage with suppliers. The company's presence across multiple retail channels from big-box stores to specialty retailers diversifies risk and creates multiple touchpoints with customers. Specialized manufacturing expertise in pressure vessel production provides another defensive element. Manufacturing tanks and cylinders that safely contain pressurized gases requires specialized knowledge, regulatory compliance, and safety certifications that create technical barriers to entry. The company's experience in meeting various safety standards and regulatory requirements across different jurisdictions adds value that competitors cannot easily replicate. The joint venture partnerships, particularly with WAVE and ClarkDietrich, provide steady income streams and market access with reduced capital requirements. These partnerships leverage Worthington's manufacturing capabilities while sharing risks and providing exposure to markets that might be difficult to enter independently. However, Worthington's moat faces significant challenges. Retail consolidation increasingly concentrates purchasing power among fewer, larger customers who can demand better terms and pricing. Private label competition from retailers developing their own brands threatens branded product sales. Commodity-like nature of many products limits pricing power, particularly in Building Products where pressure vessels can become commoditized. Scale disadvantages compared to larger industrial manufacturers may limit cost competitiveness in certain markets. The fragmented nature of the company's operations across multiple unrelated product categories may limit synergies and economies of scale compared to more focused competitors. Additionally, the cyclical nature of construction and consumer spending creates earnings volatility that pure-play competitors in less cyclical industries might avoid. Overall, while Worthington has built meaningful competitive advantages through brands and relationships, the moat is not particularly wide or durable against well-funded competitors or significant market shifts.
Risks & safety
Moderate margin of safety with strong liquidity but elevated valuation metrics suggesting limited downside protection at current levels. • Liquidity and Solvency: Strong cash position of $223 million with minimal debt burden (debt-to-equity ratio of 0.34), providing substantial financial flexibility and low solvency risk • Cash Generation: Positive free cash flow of $44 million in recent quarter with 104% free cash flow conversion, indicating healthy cash generation capabilities • Current Ratio: Strong liquidity with current ratio of 3.5x, well above the 2.0x threshold typically considered safe • Valuation Metrics: Trading at P/E ratio of 13.1x and EV/EBITDA of 8.3x, which appear reasonable but not deeply discounted • Book Value: Price-to-book ratio of 2.2x suggests shares trading above tangible asset value • Graham Metrics: Graham number of $18.53 compared to current price of $47.66 indicates potential overvaluation by traditional value metrics • Other Considerations: Cyclical nature of business creates earnings volatility risk; dependence on retail relationships creates customer concentration risk; commodity input price sensitivity affects margin predictability
Recent development
Over the past few years, Worthington Industries has undergone significant strategic transformation focused on portfolio optimization and growth acceleration. The most significant development was the 2024 separation of the Steel Processing division into an independent public company, allowing Worthington to concentrate resources on higher-margin Consumer Products, Building Products, and Sustainable Energy Solutions segments. The company has pursued an active acquisition strategy to strengthen its market position. Key acquisitions include Hexagon Ragasco, a global leader in lightweight composite LPG cylinders, which expanded Worthington's international presence and advanced composite technology capabilities. The Level5 Tools acquisition enhanced the company's position in professional drywall finishing tools, while the Tempel Steel acquisition (prior to the steel division spin-off) added electrical steel lamination capabilities for electric vehicle applications. Innovation initiatives have focused on technology integration and sustainability. The company launched SureSense IoT-enabled technology for propane tank monitoring, providing customers with real-time tank level information. Product development efforts have resulted in recognition for the HALO Elite Series Griddle and NEXI IoT solutions, demonstrating the company's commitment to bringing technology to traditional product categories. Market expansion efforts have emphasized broader retail distribution. Recent achievements include expanding Balloon Time Mini helium tanks to Target stores nationwide, increasing product availability at Tractor Supply locations, preparing HALO griddles for Walmart distribution, and placing Level5 tools in Sherwin-Williams stores. These distribution wins leverage existing retail relationships while expanding product reach. The company has also focused on operational excellence through the Worthington Business System, implementing 80/20 analysis projects to optimize product mix and operational efficiency. Sustainability initiatives include developing the first sustainable propane cylinder and establishing the West Africa Clean Cooking Fund, positioning the company as a leader in clean energy solutions while maintaining its traditional manufacturing base.
WOR company profile · for informational purposes only — not investment advice.
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