WSWorthington Steel, Inc.
Steel Works, Blast Furnaces & Rolling & Finishing Mills
- Revenue
- $3.4B
- 11% YoY
- Operating margin
- -0.0%
- 101% YoY
- EBITDA
- $83M
- 61% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 23.5×
- $1.9B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear0% of revenueOver 10% of revenue
- Payouts exceed cash flowClear16% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear1% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $4.1B | $3.6B | $3.4B | $3.1B | $3.4B | 11% |
| Operating income | $227M | $120M | $195M | $147M | −$1M | 101% |
| Net income | $180M | $87M | $170M | $119M | −$13M | 111% |
| Operating cash flow | $40M | $315M | $200M | $230M | $201M | 13% |
| Capex | $36M | $46M | $103M | $130M | $121M | 7.1% |
| Stock-based comp | $9M | $10M | $10M | $11M | $14M | 26% |
| Dividends | $0 | $0 | $8M | $32M | $33M | 2.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $31K · 1
- Open-market sells, 12 mo
- $1M · 5
- Net
- −$1M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $7M | $13M | 199 | 179 |
| FY2025 | $5M | $2M | 115 | 94 |
| FY2024 | $9M | $9M | 149 | 109 |