olivLaw · US equity research
Worthington Enterprises, Inc. WOR
Steel Works, Blast Furnaces & Rolling & Finishing Mills · SIC 3310 · Vertical: Steel Works, Blast Furnaces & Rolling & Finishing Mills (SIC 3310)
Worthington Enterprises makes consumer goods, sold mostly through retail, and building components through its Building Products and Consumer Products segments. In the first quarter of fiscal 2027 consolidated sales rose to $344 million, and the company reported free cash flow of $54 million, showing how it balances growth and cash generation.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Worthington Enterprises, Inc. (WOR) stock was 64.90 USD (+1.53% on the day), with market capitalisation 3.2 bn USD, P/E 19.6 on diluted EPS of 3.31 USD over the last 12 months, dividend yield 1.19%, beta 0.82, 52-week range 46.99–65.10 USD. Latest reported quarter (Q1 2027): revenue of 343.9 m USD (+13.2% YoY), net income of 42.6 m USD (+21.1% YoY), diluted EPS 0.87 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 58.1
- strong (55–70)
- Bollinger (20, 2)
- 61.80 – 65.52
- in the upper half of the band · %B 0.83 · band width 5.8%
- SMA 50 / 200
- 60.98 / 56.59
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.98 / 1.07
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +6.1% | −1.1% | +7.2 pp | — |
| 3 months | +10.5% | −0.5% | +11.0 pp | — |
| 6 months | +16.1% | +4.4% | +11.7 pp | — |
| Year to date | +25.8% | +12.3% | +13.5 pp | — |
| 1 year | +18.2% | +13.5% | +4.7 pp | +7.2% |
| 3 years | +65.7% | +76.4% | −10.7 pp | +4.4% |
| 5 years | +82.2% | +63.7% | +18.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 31 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 274.0 m | 304.5 m | 317.9 m | 303.7 m | 327.5 m | 378.7 m | 371.5 m | 343.9 m |
| Cost of revenue | 200.0 m | 215.3 m | 224.7 m | 221.4 m | 242.8 m | 269.2 m | 269.6 m | 253.0 m |
| Gross profit | 74.1 m | 89.2 m | 93.2 m | 82.3 m | 84.6 m | 109.5 m | 101.9 m | 90.9 m |
| SG&A | 67.9 m | 63.0 m | 71.5 m | 70.6 m | 70.7 m | 75.7 m | 77.9 m | 77.2 m |
| Operating income | 3.5 m | 20.9 m | -30.4 m | 9.2 m | 12.3 m | 31.5 m | 23.2 m | 13.0 m |
| Depreciation & amortisation | 11.9 m | 12.0 m | 12.6 m | 13.1 m | 13.8 m | 14.6 m | 15.9 m | 15.6 m |
| Interest expense | 1.0 m | 628.0 k | -60.0 k | 63.0 k | 1.5 m | 1.8 m | 2.9 m | 2.1 m |
| Pre-tax income | 37.1 m | 52.6 m | 8.3 m | 45.7 m | 35.8 m | 60.1 m | 59.8 m | 55.6 m |
| Income tax | 9.1 m | 13.2 m | 4.7 m | 10.9 m | 8.8 m | 15.0 m | 11.7 m | 13.0 m |
| Net income | 28.3 m | 39.7 m | 3.9 m | 35.1 m | 27.3 m | 45.5 m | 48.1 m | 42.6 m |
| Diluted EPS | 0.56 | 0.79 | 0.08 ≈ | 0.70 | 0.55 | 0.92 | 0.97 ≈ | 0.87 |
| Operating cash flow | 49.1 m | 57.1 m | 62.4 m | 41.1 m | 51.5 m | 61.9 m | 71.6 m | 66.7 m |
| Capex | 15.2 m | 12.7 m | 13.1 m | 13.2 m | 12.4 m | 13.8 m | 16.5 m | 12.8 m |
| Dividends paid | 9.0 m | 8.4 m | 8.4 m | 8.6 m | 9.6 m | 9.3 m | 9.4 m | 9.4 m |
| Share repurchases | 8.1 m | 6.2 m | 9.8 m | 6.3 m | 13.7 m | 5.4 m | 18.4 m | 18.2 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 80 percentile of its own 40-quarter history (min 2.0, median 9.4, max 58.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | ⚠ 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.8 bn | 3.1 bn | 3.2 bn | 1.3 bn | 1.4 bn | 1.2 bn | 1.2 bn | 1.4 bn |
| Revenue YoY | +5.0% | −18.6% | +3.7% | — | +8.3% | −12.2% | −7.4% | +19.7% |
| Net income | 153.5 m | 78.8 m | 723.8 m | 379.4 m | 256.5 m | 110.6 m | 96.1 m | 156.1 m |
| Net income YoY | −21.2% | −48.7% | +818.6% | — | −32.4% | −56.9% | −13.2% | +62.5% |
| Diluted EPS | 2.61 | 1.41 | 13.42 | 7.44 | 5.19 | 2.20 | 1.92 | 3.14 |
| Diluted EPS YoY | −15.5% | −46.0% | +851.8% | — | −30.2% | −57.6% | −12.7% | +63.5% |
| net % | 4.1% | 2.6% | 22.8% | 29.0% | 18.1% | 8.9% | 8.3% | 11.3% |
| Free cash flow | 113.4 m | 241.2 m | 192.2 m | -24.5 m | 539.0 m | 206.4 m | 159.2 m | 170.2 m |
The series breaks before 2022: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 May 2026
- Cash
- 27.7 m USD
- Financial debt
- 305.9 m USD
- Net debt
- 278.2 m USD
- Equity
- 1.0 bn USD
- Total assets
- 1.8 bn USD
- Debt / equity
- 0.30x
- Current ratio
- 2.37x
- ROE
- 15.9%
- ROA
- 8.8%
- FCF margin
- 12.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.2 bn | 1.3 bn | 1.4 bn | 1.2 bn | 1.2 bn | 1.4 bn | SEC (XBRL)· 30 Jul 2026verified |
| Cost of revenue | 2.5 bn | 981.6 m | 1.1 bn | 960.7 m | 834.7 m | 1.0 bn | SEC (XBRL)· 30 Jul 2026verified |
| Gross profit | 639.1 m | 327.6 m | 323.6 m | 285.0 m | 319.0 m | 378.3 m | SEC (XBRL)· 30 Jul 2026verified |
| SG&A | 351.1 m | 281.4 m | 287.1 m | 283.5 m | 268.4 m | 295.0 m | SEC (XBRL)· 30 Jul 2026verified |
| Operating income | 167.5 m | 48.8 m | 29.8 m | -73.5 m | -10.7 m | 76.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Depreciation & amortisation | 87.7 m | 98.8 m | 112.8 m | 80.7 m | 48.3 m | 57.3 m | SEC (XBRL)· 30 Jul 2026verified |
| EBITDA | 255.1 m ≈ | 147.6 m ≈ | 142.6 m ≈ | 7.2 m ≈ | 37.5 m ≈ | 133.5 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Interest expense | 30.3 m | 23.9 m | 18.3 m | 1.6 m | 2.1 m | 6.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Pre-tax income | 917.7 m | 210.6 m | 160.3 m | 74.0 m | 128.8 m | 201.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Income tax | 176.3 m | 52.7 m | 34.5 m | 39.0 m | 33.8 m | 46.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Net income | 723.8 m | 379.4 m | 256.5 m | 110.6 m | 96.1 m | 156.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Diluted EPS | 13.42 | 7.44 | 5.19 | 2.20 | 1.92 | 3.14 | SEC (XBRL)· 30 Jul 2026verified |
| Weighted average diluted shares | 53.9 m | 51.0 m | 49.4 m | 50.3 m | 50.1 m | 49.7 m | SEC (XBRL)· 30 Jul 2026verified |
| Dividend per share | 1.03 | 1.12 | 1.24 | 0.96 | 0.68 | 0.76 | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 640.3 m | 34.5 m | 422.3 m | 244.2 m | 250.1 m | 27.7 m | SEC (XBRL)· 30 Jul 2026verified |
| Receivables | 640.0 m | 857.5 m | 224.9 m | 199.8 m | 215.8 m | 228.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Inventories | 564.8 m | 759.1 m | 194.5 m | 164.6 m | 169.4 m | 207.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Current assets | 2.0 bn | 1.8 bn | 1.9 bn | 673.9 m | 685.4 m | 524.5 m | SEC (XBRL)· 30 Jul 2026verified |
| Property, plant & equipment, net | 515.0 m | 696.3 m | 256.4 m | 227.2 m | 270.2 m | 310.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Goodwill | 351.1 m | 321.4 m | 336.2 m | 331.6 m | 376.5 m | 500.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Intangibles (excl. goodwill) | 240.4 m | 299.0 m | 230.9 m | 221.1 m | 190.4 m | 322.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Total assets | 3.4 bn | 3.6 bn | 3.7 bn | 1.6 bn | 1.7 bn | 1.8 bn | SEC (XBRL)· 30 Jul 2026verified |
| Accounts payable | 567.4 m | 668.4 m | 126.7 m | 91.6 m | 103.2 m | 115.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Short-term debt | 458.0 k | 48.3 m | 264.0 k | — | — | — | SEC (XBRL)· 09 Apr 2024verified |
| Long-term debt | 710.0 m | 696.3 m | 689.7 m | 298.1 m | 302.9 m | 305.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Current liabilities | 787.9 m | 932.3 m | 717.6 m | 178.4 m | 196.8 m | 221.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Total liabilities | 1.8 bn | 2.0 bn | 1.8 bn | 747.6 m | 756.9 m | 821.0 m | SEC (XBRL)· 30 Jul 2026verified |
| Equity | 1.6 bn | 1.6 bn | 1.8 bn | 891.0 m | 938.2 m | 1.0 bn | SEC (XBRL)· 30 Jul 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 274.4 m | 70.1 m | 625.4 m | 290.0 m | 209.7 m | 226.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Capex | 82.2 m | 94.6 m | 86.4 m | 83.5 m | 50.6 m | 55.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Free cash flow | 192.2 m ≈ | -24.5 m ≈ | 539.0 m ≈ | 206.4 m ≈ | 159.2 m ≈ | 170.2 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Investing cash flow | 468.5 m | -438.2 m | -71.8 m | -140.8 m | -135.1 m | -360.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Financing cash flow | -249.8 m | -237.8 m | -133.1 m | -359.9 m | -68.8 m | -88.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Dividends paid | 53.0 m | 57.2 m | 59.2 m | 56.8 m | 33.9 m | 36.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Share repurchases | 192.1 m | 180.2 m | — | — | 30.9 m | 43.7 m | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 50 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet82
- Growth0
- Quality66
- Returns65
- Valuation39
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 45.17 – 73.16 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)45.17 – 73.16 (Mid 55.91)WACC 8.9% · starting FCFF 202.7 m USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 5.1%
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)outside the aggregate9.99 – 13.43 (Mid 11.46)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 50/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 5.1% | 24 (on a fixed band) | 10% |
| Net margin · Quality | 11.5% | 100 (vs peers) | 6% |
| FCF conversion · Quality | 120.1% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | -0.9% | 0 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | -15.4% | 0 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 1.8x | 63 (on a fixed band) | 10% |
| Interest coverage · Balance sheet | 9.7x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 2.7x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 19.6x | 47 (on a fixed band) | 10% |
| EV/EBITDA · Valuation | 24.7x | 0 (on a fixed band) | 10% |
| FCF yield · Valuation | 6.1% | 77 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 2.9% | 42 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 19.2% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet82/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality66/100 · 3/3 factors with a value
- Returns65/100 · 2/2 factors with a value
- Valuation39/100 · 3/3 factors with a value
Memo
WORTHINGTON ENTERPRISES, INC (WOR). Latest full fiscal year: 2026; data up to 2026-08-31.
Figures computed from the financial statements: revenue 1.4 bn USD in 2026; YoY growth 19.7%; net margin 11.5%; ROE 16.3%; net debt/EBITDA 1.8x.
The estimated value range is 45.17–73.16 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 55.91 USD, the price of 64.90 USD leaves a potential of -13.9% (value / price − 1) and a margin of safety of -16.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 50/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 11.5%
- FCF conversion: 120.1%
- Interest coverage: 9.7x
- Current ratio: 2.7x
- FCF yield: 6.1%
- Payout ratio (FCF): 19.2%
What contradicts it
- ROIC: 5.1%
- Revenue CAGR 3Y: -0.9%
- EPS CAGR 3Y: -15.4%
- EV/EBITDA: 24.7x
Versus the vertical median
Steel Works, Blast Furnaces & Rolling & Finishing Mills (SIC 3310) · same industry (4-digit SIC) · compared with 6 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| WORWorthington Enterprises, Inc | 3.2 bn | 19.6 | 16.3% | 11.5% | +19.7% | +18% / +66% |
| WSWorthington Steel, Inc. | 2.1 bn | — | -3.6% | -0.7% | +11.3% | +20% / +47% |
| ROCKGibraltar Industries, Inc. | 1.3 bn | — | -15.6% | -10.4% | +11.0% | −13% / −35% |
| IIINInsteel Industries Inc. | 559.5 m | 19.1 | 7.9% | 4.0% | +14.2% | −5% / −15% |
| FRDFriedman Industries Inc | 279.8 m | 17.9 | 10.4% | 2.7% | −13.9% | +91% / +223% |
| SIDNational Steel Co | — | — | -17.4% | -5.9% | −3.9% | −51% / −76% |
| GGBGerdau S.A. | — | — | 2.5% | 2.0% | +4.2% | +28% / +24% |
1- and 3-year price returns: for WOR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 36.34 Total return -43% · Per year -43% | 64.42 Total return 0% · Per year 0% | 97.27 Total return 51% · Per year 51% |
| 3 years | 31.56 Total return -49% · Per year -20% | 63.29 Total return 1% · Per year 0% | 105.45 Total return 67% · Per year 19% |
| 5 years | 27.40 Total return -54% · Per year -14% | 62.18 Total return 2% · Per year 0% | 114.31 Total return 84% · Per year 13% |
- Exit P/E± 15.82
- Net margin± 11.08
- Annual revenue growth± 9.59
- Annual dilution± 0.93
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 25 Sept 2026; since then the company filed 10-Q (09 Oct 2026).
In brief
Worthington Enterprises makes consumer goods, sold mostly through retail, and building components through its Building Products and Consumer Products segments. In the first quarter of fiscal 2027 consolidated sales rose to $344 million 2, and the company reported free cash flow of $54 million 2, showing how it balances growth and cash generation.
SWOT
Strengths
- The company has established brands and large-scale manufacturing capacity, giving it strong positions in several categories 1.
- The Worthington Business System supports continuous improvement in costs and quality 1.
- Cash generation has been strong in recent quarters, with a record trailing twelve-month free cash flow 2.
Weaknesses
Opportunities
Risks
- Steel price volatilityhigh
Steel prices have fluctuated significantly, and the company may find it hard to pass all cost increases on to customers 1.
- Dependence on retail customershigh
One major retail customer represents a significant share of Consumer Products, and losing it could affect sales 1.
- Construction cyclicalitymedium
Demand in residential and non-residential construction depends on interest rates and economic confidence, and a decline could reduce orders 1.
- Acquisition integration riskmedium
Integrating LSI and other acquisitions may prove harder than expected and could affect results if expected benefits do not materialize 1.
- Supply interruptionsmedium
If steel suppliers fail to deliver on time, production and customer schedules could be affected 2.
Investment thesis
What would need to be true (bull case)
- If demand for data-center cooling tanks keeps growing, the Building Products segment could add a meaningful new revenue source.
- Cash generation has remained strong, giving the company flexibility for acquisitions and capacity investment.
- Diversification across construction and consumer goods may cushion a slowdown in either market.
What would break the thesis
- If steel prices stay volatile, margins could be squeezed, especially when not all costs can be passed on to customers.
- Dependence on a major retail customer and contracts that can be terminated at any time could make revenue harder to predict.
- Revenue from data-center cooling is still uncertain, and a pipeline is not the same as confirmed revenue.
What to watch
- Trajectory of revenue from ASME tanks for data centersQ2 2027
- Recovery of gross margin in the Building Performance Solutions segmentQ2 2027
- Investor Day in New York and long-term targetsNovember 2026
- Steel availability and lead times affecting productionnext quarterly report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 25 Sept 2026; since then the company filed 10-Q (09 Oct 2026).
The business
Founded in 1955, the company designs and manufactures products sold to consumers, primarily through retail, in tools, outdoor living and celebrations, as well as specialized components for residential and non-residential construction 1. Its strategy rests on the Worthington Business System, a continuous-improvement approach aimed at lower costs and better operational efficiency 1. The company is managed through two operating segments, Building Products and Consumer Products 1.
Following the separation of the steel business on December 1, 2023, Worthington Industries renamed itself Worthington Enterprises, and its shares trade on the NYSE under WOR, with the former steel operations reported as discontinued 1. The fiscal year ends May 31 1.
The company extended its portfolio through recent acquisitions, including LSI, a major U.S. maker of standing-seam metal roof clips acquired in January 2026 1, and Elgen, acquired in June 2025, a provider of HVAC components and structural framing for commercial buildings 1. These deals broaden its construction capabilities.
Market context
Steel is the most important raw material, and its prices and availability have been volatile, particularly because of tariff policy 1. The company describes data-center liquid cooling, where engineered ASME tanks are used, as a new growth avenue, although revenue there is still small next to its established segments 2.
Trends
- Liquid cooling in data centerstailwind
Demand for ASME tanks used in liquid cooling of data centers could keep growing as processors generate more heat 2. The company reported that first-quarter revenue from this area matched the whole prior fiscal year 2.
- Tight steel supply chainsheadwind
Steel availability remains constrained across the industry and lead times have lengthened, causing production disruptions 2. If this pressure persists, costs and production scheduling could remain affected 2.
- Weak demand in cooling and constructionheadwind
Channel inventories are being reduced and new home sales are muted, lowering demand for newly mandated A2L refrigerant cylinders compared with a year earlier 2. This pressured gross margin in the Building Performance Solutions segment 2.
- Acquisitions and integrationmixed
Integration of LSI is progressing and the company is reaching out to new prospective customers 2. Acquisitions can add capabilities, but integration and the price paid can shape future results 1.
Competitive position
In Building Products the company faces domestic and foreign competitors, and competition is based on price, service and quality 1. In Consumer Products it competes with established national brands as well as private-label products, particularly in tools and outdoor living 1.
WAVE is one of four major North American makers of ceiling suspension systems, and ClarkDietrich is a leader in light gauge steel framing in the U.S. 1. In cylinders the company competes with domestic and foreign producers, and no single competitor dominates every category 1.
- Armstrong World IndustriesAWI
Partner in the WAVE joint venture, which also competes in ceiling suspension systems 1.
- Hexagon Composites
Partner in the SES joint venture and holder of shares Worthington received for its composite-business stake 1.
- U.S. makers of cylinders and pressure vessels
Competitors in gas cylinders and water tanks, with varying shares depending on the product 1.
- Established national tool and outdoor brands
Competitors in the Consumer Products segment, which also faces private-label products 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Why Worthington Enterprises Stock Jumped 10% TodayYahoo Finance — News · 16 Sept 2026 · EN
The latest news item in our archive is from 16 Sept 2026; the newest SEC filing is from 23 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report23 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report09 Oct 2026
- Current report25 Sept 2026Results of operations · Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report22 Sept 2026Results of operations · Other events · Financial statements and exhibits
- Current report15 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report31 Aug 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report14 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Proxy statement13 Aug 2026
- Current report07 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Annual report30 Jul 2026
Sources
- [1] Form 10-K, fiscal year ended 2026-05-31 · SEC / Worthington Enterprises, Inc. · 30 Jul 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Worthington Enterprises, Inc. · 25 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.