Worthington Steel Inc (WS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Worthington Steel Inc stock $19.08, price $36.72, that is 48.0% below the price, quality 54 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
35‑month range $21.02 – $48.03 · fair‑value band $14.50 – $24.10 · the $36.72 price screens above the $19.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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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.
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It also offers warehousing, logistics, and materials management services. 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.
Stock analysis
Worthington Steel Inc (WS) currently trades at $36.72, while our model-based Fair Value estimate is $19.08, 48% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $11.24 per share, and 1 of the 24 models we run sit above the $36.72 price.
Bear case: the Dividend Discount group reads lowest at $2.39, and 23 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $14.50 (bear) to $24.10 (bull), the price of $36.72 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Worthington Steel Inc reported revenue of $3.4B in FY2026 versus $4.1B in FY2022, a compound −4.1%/yr. Reported net income was $17.3M in FY2026, compounding −44.4%/yr from FY2022.
Key figures
Market cap $1.8B Small · P/S ratio 0.39 · EPS (TTM) $−0.7100 · Dividend yield 1.7% · Net margin −0.7% · Return on equity −3.4% · Return on assets (EBIT) 8.0% (5-year average) · Operating margin 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at −48%, WS screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($2.28 to $56.73). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$14.50Fair Value $19.08Bull$24.10
Price $36.72 · Downside -48.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF$7.16$8.84$11.7581
Growth DCF$7.32$8.91$11.4479
Owner Earnings$3.80$4.65$6.1377
All 24 models by family
DCF Models
FCF DCF$7.16$8.84$11.7581
Owner Earnings$3.80$4.65$6.1377
5Y Revenue Exit$7.73$10.91$15.6372
5Y EBITDA Exit$9.38$13.73$19.6074
5Y P/E Exit$5.54$7.17$9.1971
10Y Revenue Exit$7.25$9.54$12.0567
10Y EBITDA Exit$8.29$11.10$14.1869
10Y P/E Exit$6.26$7.46$8.6064
Earnings-Based
Graham-Dodd$2.35$3.41$4.0267
EPV$5.75$6.41$6.9673
Dividend Discount
Gordon GGM$2.08$2.28$2.5369
DDM Multi-Stage$2.08$2.50$2.9767
Multiples
P/E Multiple$4.41$5.87$7.3463
P/S Multiple$4.41$5.87$7.3457
P/B Multiple$42.55$56.73$70.9255
EV/EBIT$7.44$10.73$14.0164
EV/EBITDA$10.31$14.55$18.7866
EV/Revenue$6.13$9.79$13.4552
Asset-Based
NCAV (Graham)$7.42$11.24$14.0554
Growth DCF
Growth DCF$7.32$8.91$11.4479
Rev-Margin DCF$7.73$11.10$15.3172
Economic Profit
Residual Income$12.17$12.77$13.6876
ROIC Compounder$5.75$6.41$6.9671
Growth Earnings
Growth-Adj P/E$3.14$4.48$5.8367
The fair value above starts from this blend and is adjusted for a cyclical trough year.
In the last 6 months, one officer or director bought shares worth $31,492, on Oct 15, 2026. Over the same period, 3 people sold shares worth $2.5M.
SaleClifford LariveyPresident Flat Rolled Stl Proc4× since May 22, 2026: 37,943 shares, avg. $40.21$1.5MOct 19, 202610b5-1 plan
BuyGeorge John Ganem IIICEO Americas Kloeckner Metals800 shares at $39.37$31,492Oct 15, 2026
SaleJeffrey R KlinglerChief Operating Officer20,236 shares at $43.82$886,655Jun 2, 202610b5-1 plan
SaleTimothy A AdamsChief Financial Officer2,367 shares at $42.27$100,060Jun 1, 202610b5-1 plan
BuyJon J BowsherDirector2,500 shares at $40.15$100,375Jan 30, 2026
BuyScott J KellyDirector7,000 shares at $39.11$273,770Jan 27, 2026
Plus 36 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.1%
Start year 2021 (pandemic)
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−13.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.8%
Dividend (yield on the price)1.7%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.10% → 3%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+19.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +17.0% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Steel · 410 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−48.0% · Bottom 25%
Profitability
Return on assets1.7% · Below median
Net margin (12 months)−1.6% · Bottom 25%
Operating margin (12 months)2.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)212.4% · Top 25%
Dividend yield (12 months)1.7% · Below median
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Steel median · lower = cheaper
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Is Worthington Steel Inc (WS) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $19.08 versus a price of $36.72, about 48% lower (overvalued).
What is the fair value of WS?
Our model-based fair value for Worthington Steel Inc is $19.08 (as of Nov 7, 2026), built from audited fundamentals. The current price: $36.72.
What is the quality score of WS?
Worthington Steel Inc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Worthington Steel Inc (WS)?
Our model-based price target is the fair value of $19.08 (as of Nov 7, 2026) from 24 valuation models. Cautious scenario $14.50, optimistic scenario $24.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Worthington Steel Inc stock forecast for 2026?
Our models put fair value at $19.08, about 48% lower versus a price of $36.72 (overvalued). Cautious scenario $14.50, optimistic scenario $24.10. The calculation is refreshed regularly with new filings.
What is the revenue of Worthington Steel Inc (WS)?
Worthington Steel Inc reported trailing-twelve-month revenue of about $5.3B (latest available figure, as of Nov 7, 2026).
Does Worthington Steel Inc pay a dividend?
Worthington Steel Inc currently shows a dividend yield of 1.74% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Worthington Steel Inc (WS) and when is the ex-dividend date?
Worthington Steel Inc pays a dividend of $0.64 per share a year, a dividend yield of 1.7%. The next ex-dividend date is Dec 14, 2026, with payment on Dec 28, 2026. The payout ratio is 28.7% of earnings (on adjusted earnings, reported 185%). Free cash flow covers the dividend 2.50 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Worthington Steel Inc (WS)?
For today's price to be fair in a discounted-cash-flow model, Worthington Steel Inc would have to grow free cash flow by +19.8 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.1 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of WS use?
Our models discount Worthington Steel Inc at 12.2 %: a base by market capitalisation (mid), damped by beta 2.23, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Worthington Steel Inc that is +19.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Worthington Steel Inc (WS) delivered so far?
Over the past 5 years revenue at Worthington Steel Inc grew +10.1 % a year. The price currently implies free-cash-flow growth of +19.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Worthington Steel Inc (WS) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Worthington Steel Inc (+19.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Worthington Steel Inc (WS)?
The free-cash-flow yield on the price is 4.37 %: that much free cash flow Worthington Steel Inc produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Worthington Steel Inc (WS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Worthington Steel Inc it is $19.08 per share (as of Nov 7, 2026), against a price of $36.72. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Worthington Steel Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, WS trades above its calculated fair value: price $36.72, fair value $19.08, a gap of about −48% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WS?
No. The price is what the market pays today ($36.72); the fair value is what the company's own numbers justify ($19.08). For Worthington Steel Inc the two are $17.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Worthington Steel Inc worth?
The market values Worthington Steel Inc at about $1.8B (market capitalisation, as of Nov 7, 2026). Per share that is $36.72; our models calculate a fair value of $19.08 per share.
What do the bullish and bearish scenarios say about WS?
Our models span a range for Worthington Steel Inc: cautious scenario $14.50, base $19.08, optimistic $24.10 per share (as of Nov 7, 2026, price $36.72). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Worthington Steel Inc (WS)?
Balance-sheet figures for Worthington Steel Inc (as of Nov 7, 2026): return on equity −3.4%, debt of 0.04 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is WS from its 52-week high?
Worthington Steel Inc trades at $36.72, about 24% below its 52-week high of $48.03 and 32% above the low of $27.86 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $19.08 is for.
Which stocks are comparable to Worthington Steel Inc?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Worthington Steel Inc stock attractive at the current price?
The data as of Nov 7, 2026: price $36.72, calculated fair value $19.08 (−48%), Quality Score 54/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WS calculated?
We run Worthington Steel Inc through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $19.08 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Worthington Steel Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Worthington Steel Inc (WS)?
The closing price on Nov 6, 2026 was $36.72. Our model-based fair value is $19.08, about 48% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Worthington Steel Inc right now?
The price sits above even our optimistic bull case ($24.10). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Worthington Steel Inc
How large is the market capitalisation of Worthington Steel Inc (WS)?
The market capitalisation of Worthington Steel Inc is $1.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Worthington Steel Inc (WS)?
The price-to-sales ratio of Worthington Steel Inc is 0.39 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Worthington Steel Inc (WS)?
Earnings per share at Worthington Steel Inc are $−0.7100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Worthington Steel Inc (WS)?
The dividend yield of Worthington Steel Inc is 1.7% (payout 28.7%, on adjusted earnings, reported 185%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Worthington Steel Inc (WS)?
The net margin of Worthington Steel Inc is −0.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Worthington Steel Inc (WS)?
The return on equity (ROE) of Worthington Steel Inc is −3.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Worthington Steel Inc (WS)?
On an EBIT basis the return on assets of Worthington Steel Inc is 8.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Worthington Steel Inc (WS)?
The operating margin of Worthington Steel Inc is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Worthington Steel Inc (WS)?
Revenue at Worthington Steel Inc is growing +212% versus a year earlier (3y avg −1.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Worthington Steel Inc (WS)?
Earnings per share at Worthington Steel Inc are growing −25.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Worthington Steel Inc (WS) carry?
The net debt of Worthington Steel Inc is $270M (fiscal year 2026, ≈ 3.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 7, 2026