At a glance
Worthington Industries Inc is worth $3.13B, about 20 times its fiscal 2026 earnings. Revenue grew 19.7% to $1.38B in fiscal 2026, with 11.3% kept as profit; over 4 years it has grown 1.3% a year. It pays a 1.21% dividend yield, and returned $498.9M to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +15.3% over the past year with dividends reinvested and +15.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 44.6% in the 2020 crash (S&P 500: 33.7%) and 37.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 4 months after the lows.
The business in plain English
Worthington Enterprises makes metal products for buildings and consumers. Founded in 1955 as a steel processor, it spun off that business as a separate company, Worthington Steel, in December 2023 and changed its name from Worthington Industries. Sales were $1.38 billion in the fiscal year ended May 31, 2026, about 88% in the US and most of the rest in Europe.
Building Products, 62% of sales ($861 million), serves home building, commercial construction, and repair and remodeling. It makes cylinders and tanks that hold gas or water under pressure, such as refrigerant and propane cylinders and well water tanks, plus HVAC (heating and cooling) parts and roofing clips. Worthington also owns 50% of WAVE, a maker of ceiling suspension systems co-owned with Armstrong World Industries, and 25% of ClarkDietrich, which makes steel framing such as drywall studs. Because these joint ventures are unconsolidated, their sales are not counted in Worthington's revenue; it records its share of their profit.
Consumer Products, the other 38% ($520 million), sells tools, outdoor living and celebration products under brands such as Bernzomatic, Coleman (under license), Balloon Time and Level5. Products include propane cylinders for torches and camping stoves, helium balloon kits, drywall tools, gas grills and pizza ovens, sold mostly to mass merchandisers, retailers and distributors. One retailer accounted for 10% of total sales.
Price history
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WOR +15.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Building Products | $861.5M | 62.4% |
| Consumer Products | $519.8M | 37.6% |
By geography
| US | $1.22B | 88.1% |
| International | $164.4M | 11.9% |
Latest results
- In Q1 FY2027 (ended Aug 31, 2026), revenue was $343.9M, up 13.2% from a year earlier, and net income was $42.6M (+21.1%).
- For fiscal 2026, revenue was $1.38B (+19.7% year over year; +1.3% a year from FY2022 to FY2026) with a 11.3% net margin.
Financial health check
| Revenue growth a year (FY2022–FY2026) | +1.3% watch |
|---|---|
| Operating margin | 5.5% watch |
| Free cash flow margin | 12.3% good |
| Return on equity (FY2026) | 15.2% good |
| Return on assets (FY2026) | 8.4% good |
| Net cash (cash minus debt) | $-250.5M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.17B | $723.8M | $192.2M |
| FY2022 | $1.31B | $379.4M | $-24.5M |
| FY2023 | $1.42B | $256.5M | $539.0M |
| FY2024 | $1.25B | $110.6M | $206.4M |
| FY2025 | $1.15B | $96.1M | $159.2M |
| FY2026 | $1.38B | $156.1M | $170.2M |
Valuation snapshot
| Market value | $3.13B |
|---|---|
| P/E ratio | 20.2 |
| Dividend yield | 1.21% |
Rank among 1514 US companies
Market value at each year end
Worthington Industries’s market value went from $2.88B at the end of 2023 to $3.13B on Oct 28, 2026, up 9%; since the end of 2025 it is up 22%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $3.13B | +22.3% |
| 2025 | $2.56B | +27.0% |
| 2024 | $2.02B | -29.9% |
| 2023 | $2.88B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| WOR price data to Oct 28, 2026 | +24.6% | +15.3% | +20.5% | +15.4% | +10.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +24.6% |
| 2025 | +30.3% |
| 2024 | -29.3% |
| 2023 | +89.4% |
| 2022 | -6.9% |
| 2021 | +8.5% |
| 2020 | +25.3% |
| 2019 | +24.1% |
| 2018 | -19.3% |
| 2017 | -5.5% |
| 2016 | +60.4% |
| 2015 | +3.0% |
| 2014 | -27.3% |
| 2013 | +63.2% |
| 2012 | +64.4% |
| 2011 | -9.5% |
| 2010 | +43.0% |
| 2009 | +21.9% |
| 2008 | -36.7% |
| 2007 | +3.0% |
| 2006 | -5.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 70.5% over that stretch · deepest drop along the way 71.5%, back to its old high 42.1 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 43.3% over that stretch · deepest drop along the way 44.6%, back to its old high 2.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 21% over that stretch · deepest drop along the way 37.8%, back to its old high 4.1 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 6 sales ($6.7M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 28, 2026 | John P/Oh Mcconnell 10% owner | sell | $2.4M |
| Sep 24, 2026 | John P/Oh Mcconnell 10% owner | sell | $1.8M |
| Sep 25, 2026 | John P/Oh Mcconnell 10% owner | sell | $1.4M |
| Sep 25, 2026 | John P/Oh Mcconnell 10% owner | sell | $735K |
| Sep 24, 2026 | John P/Oh Mcconnell 10% owner | sell | $255K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 9.3% | Mar 31, 2025 |
ETFs with the most weight in WOR
| DGRS WisdomTree US Smallcap Quality Dividend Growth Fund | 0.71% |
| PSCI Invesco S&P SmallCap Industrials ETF | 0.68% |
| DSMC Distillate Small/Mid Cash Flow ETF | 0.6% |
| XSHQ Invesco S&P SmallCap Quality ETF | 0.57% |
| SVAL iShares US Small Cap Value Factor ETF | 0.31% |
| JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 0.27% |
| DES WisdomTree U.S. SmallCap Dividend Fund | 0.26% |
| TPSC Timothy Plan US Small Cap Core ETF | 0.26% |
What could go wrong
- Profits lean on partly owned joint ventures. Worthington owns 50% of WAVE and 25% of ClarkDietrich and runs neither alone. Fiscal 2026 net income ($156 million) was about double operating income ($76 million), so much profit came from outside its own operations.
- One retailer is 10% of sales. A single retail customer made up 10% of fiscal 2026 sales, and Consumer Products sells mainly to mass merchandisers. Losing shelf space or facing price pressure from big chains could hurt results.
- Tied to construction and housing cycles. Building Products, 62% of fiscal 2026 sales, depends on housing activity, interest rates and commercial building. Commercial construction revenue can lag starts by up to 24 months, so slowdowns may hit late.
- A quick run of acquisitions, with debt. It bought Elgen, LSI and Hydrostat's propane assets from June 2025 to January 2026, and acquisitions can disappoint. Debt was $306 million against $55 million of cash as of August 31, 2026.
- Price competition, including foreign rivals. Its propane and refrigerant cylinders and well water tanks face foreign rivals, and competition turns on price, service and quality. Consumer products compete with many well-established domestic and foreign makers.
- Hexagon shares can swing in value. Worthington was paid in shares of Hexagon Composites and Hexagon Purus for its 49% stake in the SES composite business. Changes in their market value can show up in reported earnings.
Recent events
- Investor presentation or announcement
- Quarterly results released; Executive or board change; Shareholder vote results
- Quarterly results released; Other company announcement
- Investor presentation or announcement
- Major agreement signed; New debt or financial obligation
- Investor presentation or announcement
- Quarterly results released; Executive or board change
- Quarterly results released; Executive or board change; Other company announcement
- Quarterly results released
- Quarterly results released; Other company announcement
For income and retirement investors
Worthington pays a dividend but lacks a long record of raises. Dividends per share fell from $1.24 in fiscal 2023 to $0.68 in fiscal 2025, spanning the December 2023 spin-off of its steel business, then rose to $0.76 in fiscal 2026 (ended May 31, 2026), the first increase after two years of declines. That payout used about 24% of earnings and 22% of free cash flow (cash left after capital spending). The yield was a modest 1.21% as of October 28, 2026. Buybacks totaled about $255 million from fiscal 2022 through 2026, and the share count fell 3.3% between December 2021 and October 2026.
The shares have fallen hard in past downturns, all before the steel spin-off. They dropped 71.5% in the 2008 financial crisis and took about 42 months to recover. They fell 44.6% in the 2020 COVID crash, recovering in under three months, and 37.8% in 2022. Single stocks like WOR carry more risk than diversified funds.
Questions investors ask
How does Worthington Enterprises make money?
Worthington Enterprises makes money by selling manufactured metal products through two segments. In the fiscal year ended May 31, 2026, Building Products brought in about 62% of $1.38 billion in sales from cylinders and tanks, HVAC parts and roofing clips. Consumer Products brought in about 38% from propane cylinders, torches, helium balloon kits and tools sold under brands such as Bernzomatic and Balloon Time. It also earns a share of profits from WAVE and ClarkDietrich, joint ventures that make ceiling systems and steel framing.
Does Worthington Enterprises raise its dividend every year?
No. Dividends per share rose from $0.68 in fiscal 2025 to $0.76 in fiscal 2026, but that was the first increase after two years of declines. The dividend was $1.24 per share in fiscal 2023, before the December 2023 steel spin-off. From fiscal 2021 to 2026, the regular dividend shrank about 5.9% a year on average. The fiscal 2026 payout used about 24% of earnings, and the yield was 1.21% as of October 28, 2026.
What is the difference between Worthington Enterprises and Worthington Steel?
They were one company until December 1, 2023, when Worthington Industries spun off its steel processing business as a separate public company, Worthington Steel, which began trading on the NYSE as WS. The deal was intended to be tax-free to shareholders. The remaining company renamed itself Worthington Enterprises and kept the WOR ticker. It focuses on building products, such as pressurized cylinders, water tanks and HVAC parts, and consumer products, such as torches, propane cylinders and balloon kits.
How has Worthington Enterprises stock performed?
It has risen over the long run, with big swings. Based on share prices as of October 28, 2026, WOR returned about 15.4% a year over five years and 10.3% a year over ten years. Calendar years vary widely: up 89.4% in 2023, down 29.3% in 2024 and up 30.3% in 2025. From the start of 2026 through October 28, 2026, it was up 24.6%. The longer figures include years before the 2023 steel spin-off. On October 28, 2026, the shares traded at about 20 times fiscal 2026 earnings.
Are Worthington Enterprises insiders selling shares?
Yes. Insider filings reviewed for October 29, 2025, to October 29, 2026, showed six sales worth about $6.7 million and no purchases. The largest came in late September 2026 from John P. McConnell, a 10% owner, and none were reported as made under pre-arranged trading plans. Insider sales happen for many reasons, such as taxes or diversification, so they are not always a signal. BlackRock reported owning 9.3% of the shares as of March 31, 2025.