One-glance verdict
Within fair range
$78.56 our estimate vs market $64.21
Wall Street consensus: $70.40 (-10.4% lower than our fair-value estimate)
18% below our estimate
Fundamentals snapshot
Worthington Enterprises, Inc.
WOR · NYQ · Industrials · Metal Fabrication
Current price
$64.21
52-week range
$45.01 - $67.54
Market cap
$3.16B
Balance sheet
Healthy
13.33x Strong cushion
Net debt $292.48M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 2.9% last year.
- Reward Returns 16.2% on equity, ahead of 33% of its peers.
- Reward Free cash flow was positive in 9/10 years.
- Risk Net debt grew 10.0% over 3 years.
What this company does
Worthington Enterprises, Inc.
Worthington Enterprises makes a variety of industrial and consumer products, from propane tanks and grilling accessories to tools and drywall equipment, with money coming mainly from selling these goods to retailers and distributors. This matters because it shows how diverse their offerings are across different markets like outdoor living and construction.
How the company got here
Worthington Enterprises started in 1955 as a steel processing business founded by John H. McConnell. Over the decades, the company grew by expanding into new areas like pressure cylinders, consumer products, and building products, often through partnerships and acquisitions. A major turning point occurred in December 2023 when the company separated its steel business, Worthington Steel, and was renamed Worthington Enterprises. This strategic move refocused the company on its consumer and building product lines, aiming for higher profit margins and less exposure to commodity markets.
What it actually does
Worthington Enterprises designs and manufactures a variety of products that are sold to consumers and businesses. These products range from everyday items like propane tanks and torches to components used in construction and building systems. The company focuses on creating branded products that serve specific needs in markets where manufacturing expertise, safety certifications, and strong customer relationships are important.
Consumer Products
This segment offers a wide array of products for consumers, including tools, items for outdoor living, and products for celebrations. You'll find things like handheld torches and lighters used for DIY projects and crafts, specialized tools for tasks like drywall installation, and propane cylinders for camping stoves and grills. They also make helium-filled balloon kits. These products are sold under well-known brand names and are typically found in mass merchandiser stores, retailers, and through distributors.
Building Products
The Building Products segment provides essential components for construction and building systems. This includes pressurized tanks that hold gases like propane for heating and cooking, as well as tanks for water systems. They also manufacture products used in interior construction, such as ceiling suspension systems and metal framing for walls. These products are crucial for both residential and commercial building projects, serving contractors and builders through specialized distributors.
What management is betting on now
Worthington Enterprises is focusing on becoming a business with higher profit margins by concentrating on specialized, branded products rather than basic commodities. Management's strategy involves growing the consumer products business through innovation and expanding the building products segment into new areas. They are also working to improve operational efficiency and make disciplined investments in businesses where they can be a market leader.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q2
$33.89M
FY2025 Q3
$44.43M
FY2025 Q4
$49.33M
FY2026 Q1
$27.87M
FY2026 Q2
$39.09M
FY2026 Q3
$48.14M
FY2026 Q4
$55.11M
FY2027 Q1
$53.98M
Revenue
$343.89M
Net income
$42.57M
Diluted EPS
0.87
Operating cash flow
$66.73M
Free cash flow
$53.98M
Fetching…
Sources
Revenue
$371.46M
Net income
$48.15M
Diluted EPS
0.97
Operating cash flow
$71.60M
Free cash flow
$55.11M
Fetching…
Sources
Revenue
$378.68M
Net income
$45.46M
Diluted EPS
0.92
Operating cash flow
$61.94M
Free cash flow
$48.14M
Fetching…
Sources
Revenue
$327.45M
Net income
$27.33M
Diluted EPS
0.55
Operating cash flow
$51.52M
Free cash flow
$39.09M
Fetching…
Sources
Revenue
$303.71M
Net income
$35.15M
Diluted EPS
0.70
Operating cash flow
$41.06M
Free cash flow
$27.87M
Fetching…
Sources
Revenue
$317.88M
Net income
$3.88M
Diluted EPS
0.09
Operating cash flow
$62.41M
Free cash flow
$49.33M
Fetching…
Sources
Revenue
$304.52M
Net income
$39.66M
Diluted EPS
0.79
Operating cash flow
$57.13M
Free cash flow
$44.43M
Fetching…
Sources
Revenue
$274.05M
Net income
$28.26M
Diluted EPS
0.56
Operating cash flow
$49.05M
Free cash flow
$33.89M
Fetching…
Sources
Is it cheap or expensive?
Fair value $78.56 vs current price $64.21
Wall Street consensus is the average analyst price target: $70.40 (-10.4% lower than our fair-value estimate).
Our most-likely fair value is $78.56 a share — about 22.3% away from today's price of $64.21, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net debt $292.5M. Interest coverage 13.3x.
Net debt
$292.48M
Interest coverage
13.33x
Worthington Enterprises, Inc.'s profit covers its interest bill about 13.3 times over. which is stronger than most peers shown here.
Healthy
Worse cushion
Baseline
Better cushion
WOR
BASELINE
Worthington Enterprises, Inc.
Total debt $347.55M Interest coverage 13.33x This is the baseline the peer rows are being compared against.
Total debt $1.37B Interest coverage 40.89x +207% vs WOR Carries about 3.1x more debt cushion than WOR.
Total debt $677.20M Interest coverage 53.93x +304% vs WOR Carries about 4.0x more debt cushion than WOR.
Total debt $3.49B Interest coverage 12.41x -7% vs WOR Has roughly the same debt cushion as WOR.
Total debt $671.40M Interest coverage 11.74x -12% vs WOR Has roughly the same debt cushion as WOR.
Total debt $1.77B Interest coverage 6.80x -49% vs WOR Carries about 2.0x less debt cushion than WOR.
What you should know
The case for and against WOR
3 Rewards
1 Risk
Rewards
-
Revenue grew 2.9% last year.
-
Returns 16.2% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 9/10 years.
Risks
-
Net debt grew 10.0% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
19.40x
Forward P/E
15.22x
P/B
3.02x
P/S
2.23x
EV/EBITDA
23.32x
PEG ratio
1.97x
Profitability
How much profit each dollar creates
Gross margin
27.4%
Operating margin
4.0%
Net margin
11.5%
ROE
16.2%
ROA
3.1%
Health
Liquidity and balance-sheet strength
Debt / equity
0.33x
Current ratio
2.67x
Quick ratio
1.28x
Total debt
$347.55M
Total cash
$55.07M
Growth
How the business has been compounding
Revenue TTM
$1.42B
Revenue 5Y CAGR
1.3%
EPS TTM
3.31
EPS 5Y CAGR
-15.4%
Cash flow
How much cash the business throws off
Operating CF TTM
$251.79M
Free CF TTM
$170.21M
FCF margin
12.0%
Dividend
Shareholder payout
Yield
1.3%
Payout ratio
23.0%
Last ex-div date
2026-12-15