Restructuring and cost reductionsnegative · 4 filings
“The Company does no t expect to incur additional material severance expenses in fiscal 2026 or beyond due to these announced plans.”10-Q · Apr 9, 2026 ↗
Worthington Steel, Inc.
WS
Market read
Worthington Steel, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Company+0.3% todayVolume comparison unavailable
Market group0 of 13 activeTransportation & Finance · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- WS's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if WS's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- WS's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods5
Price observations320
Usable filing statements157
Verified relationships4
Evidence supporting the case
- Latest annual revenue changed +11.3% year over year.
- Operating cash flow covered net income at 23.67x in the latest annual period.
Evidence challenging the case
- Operating margin changed -4.8 percentage points in the latest annual period.
- Net margin changed -3.3 percentage points in the latest annual period.
- Demand and volume has repeated adverse evidence across 3 filings.
Questions before a position
- P/E is 490% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 72% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
33.926m-19.5%12m+1.6%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-05-31$4.1B—$3.66—
2023-05-31$3.6B-11.3%$1.77+0.0%
2024-05-31$3.4B-4.9%$3.11+1.0%
2025-05-31$3.1B-9.8%$2.19+1.4%
2026-05-31$3.4B+11.3%$0.17+0.6%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesmixed · 3 filings
“Interest Expense, Net Six Months Ended November 30, Change (In millions) 2025 2024 $ % Interest expense, net $ 5.6 $ 4.7 $ 0.9 19.1 % 39 Table of Contents Interest expense increased $0.9 million from the prior year period primarily due to higher average debt…”10-Q · Jan 8, 2026 ↗
Demand and volumenegative · 3 filings
“Toll margins, down $21.5 million, were impacted by a $15.8 million unfavorable impact due to lower volumes and a $5.6 million unfavorable change in toll mix.”10-Q · Jan 8, 2026 ↗
Foreign exchangepositive · 3 filings
“Amounts recorded in AOCI include both (i) changes attributable to spot exchange rates and (ii) amounts related to excluded components that are deferred in other comprehensive income.”10-Q · Apr 9, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.5× · EV/sales 0.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
33.92+0.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:50 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for WS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for WS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind WS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
GMGeneral Motors CompanycompetitorApr 9, 2026 ▾
“The automotive industry is the largest end market for the Company, which is largely driven by the production schedules of Ford, General Motors and Stellantis North America (the “Detroit Three Automakers”).”
STLAStellantis N.V.competitorApr 9, 2026 ▾
“The automotive industry is the largest end market for the Company, which is largely driven by the production schedules of Ford, General Motors and Stellantis North America (the “Detroit Three Automakers”).”
CLFCleveland-Cliffs Inc.supplierJul 29, 2025 ▾
“During fiscal 2025, we purchased steel from the following major suppliers, in alphabetical order: Cleveland-Cliffs Steel Inc.; NLMK Indiana LLC; North Star BlueScope Steel, LLC; Nucor Corporation; Steel Dynamics, Inc; and United States Steel Corporation.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
WS is currently a Leader in the organic co-movement group Transportation & Finance. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for WS; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.