Worthington Financials
This page shows Worthington (WOR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Worthington has an operating margin of -0.9%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -5.9% the prior year.
Worthington's revenue declined 7.4% year-over-year, from $1.2B to $1.2B. This contraction results in a growth score of 7/100.
Worthington carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.48, Worthington holds $3.48 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Worthington converts 13.8% of revenue into free cash flow ($159.2M). This strong cash generation earns a score of 69/100.
Worthington's ROE of 10.3% shows moderate profitability relative to equity, earning a score of 41/100. This is down from 12.4% the prior year.
Worthington passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Worthington generates $2.18 in operating cash flow ($209.7M OCF vs $96.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Worthington earns $-5.1 in operating income for every $1 of interest expense (-$10.7M vs $2.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Worthington generated $1.2B in revenue in fiscal year 2025. This represents a decrease of 7.4% from the prior year.
Worthington's EBITDA was $37.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 418.2% from the prior year.
Worthington generated $159.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 22.9% from the prior year.
Worthington reported $96.1M in net income in fiscal year 2025. This represents a decrease of 13.2% from the prior year.
Worthington earned $1.92 per diluted share (EPS) in fiscal year 2025. This represents an increase of 174.3% from the prior year.
Worthington held $250.1M in cash against $302.9M in long-term debt as of fiscal year 2025.
Worthington had 50M shares outstanding in fiscal year 2025. This represents a decrease of 0.4% from the prior year.
Worthington's gross margin was 27.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.8 percentage points from the prior year.
Worthington's operating margin was -0.9% in fiscal year 2025, reflecting core business profitability. This is up 5.0 percentage points from the prior year.
Worthington's net profit margin was 8.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Worthington's ROE was 10.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.2 percentage points from the prior year.
Worthington spent $30.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Worthington invested $50.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 39.4% from the prior year.
WOR Income Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $327.5M+7.8% | $303.7M-0.3% | $304.5M+11.1% | $274.0M+6.5% | $257.3M-18.8% | $316.8M-70.9% | $1.1B-8.9% | $1.2B |
| Cost of Revenue | $242.8M+9.7% | $221.4M+2.9% | $215.3M+7.6% | $200.0M+2.7% | $194.8M-20.0% | $243.6M+3.7% | $235.0M-3.0% | $242.3M |
| Gross Profit | $84.6M+2.8% | $82.3M-7.8% | $89.2M+20.5% | $74.1M+18.5% | $62.5M-14.5% | $73.1M+15.5% | $63.3M-9.1% | $69.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $70.7M+0.2% | $70.6M+12.0% | $63.0M-7.2% | $67.9M+2.8% | $66.0M+1.4% | $65.1M-7.7% | $70.6M-5.3% | $74.5M |
| Operating Income | $12.3M+32.7% | $9.2M-55.7% | $20.9M+492.7% | $3.5M+174.9% | -$4.7M-209.8% | $4.3M+129.8% | -$14.4M-96.2% | -$7.3M |
| Interest Expense | $1.5M+2236.5% | $63K-90.0% | $628K-39.2% | $1.0M+111.2% | $489K+878.0% | $50K-89.4% | $472K-56.1% | $1.1M |
| Income Tax | $8.8M-19.4% | $10.9M-18.0% | $13.2M+45.5% | $9.1M+34.2% | $6.8M-63.3% | $18.5M+179.5% | $6.6M-26.2% | $9.0M |
| Net Income | $27.3M-22.2% | $35.1M-11.4% | $39.7M+40.4% | $28.3M+16.5% | $24.3M+10.2% | $22.0M-9.5% | $24.3M-74.7% | $96.1M |
| EPS (Diluted) | N/A | N/A | $0.79+41.1% | $0.56+16.7% | $0.48+9.1% | $0.44+22.2% | $0.36-33.3% | $0.54 |
WOR Balance Sheet
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.8B+0.9% | $1.7B+3.3% | $1.7B+1.5% | $1.7B+0.7% | $1.6B-3.5% | $1.7B-52.4% | $3.6B+3.1% | $3.5B |
| Current Assets | $648.8M+3.6% | $626.0M-1.2% | $634.0M+5.1% | $603.0M+4.6% | $576.4M-16.6% | $691.1M-61.0% | $1.8B+4.8% | $1.7B |
| Cash & Equivalents | $180.3M+7.9% | $167.1M-25.0% | $222.8M+15.0% | $193.8M+8.5% | $178.5M-21.5% | $227.3M-47.2% | $430.9M+114.4% | $201.0M |
| Inventory | $198.4M-1.5% | $201.6M+21.9% | $165.3M-7.9% | $179.5M-4.2% | $187.3M-2.3% | $191.7M-66.7% | $576.4M-14.3% | $672.3M |
| Accounts Receivable | $207.3M-3.2% | $214.1M+5.5% | $202.8M+9.7% | $184.9M+9.7% | $168.5M-23.2% | $219.4M-65.8% | $640.8M-8.2% | $698.3M |
| Goodwill | $412.8M+0.1% | $412.3M+12.0% | $368.0M-0.5% | $369.8M-1.0% | $373.4M+8.1% | $345.4M-17.1% | $416.9M+0.3% | $415.8M |
| Total Liabilities | $790.3M+1.5% | $778.3M+4.7% | $743.5M-0.1% | $744.1M+0.3% | $742.0M-6.1% | $790.2M-52.4% | $1.7B+5.4% | $1.6B |
| Current Liabilities | $199.1M+4.9% | $189.8M+5.2% | $180.4M+6.4% | $169.5M+1.9% | $166.2M-17.8% | $202.3M-78.6% | $945.3M+8.8% | $868.9M |
| Long-Term Debt | $305.3M-0.2% | $306.0M+4.1% | $293.9M-0.6% | $295.7M-1.4% | $300.0M+0.8% | $297.7M-0.3% | $298.5M+0.2% | $298.1M |
| Total Equity | $962.6M+0.4% | $959.1M+2.3% | $937.2M+2.8% | $911.3M+1.1% | $901.4M-1.2% | $912.1M-49.1% | $1.8B+1.0% | $1.8B |
| Retained Earnings | $624.5M | N/A | N/A | $589.4M | N/A | N/A | $1.4B | N/A |
WOR Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $51.5M+25.5% | $41.1M-28.1% | $57.1M+16.5% | $49.1M+19.2% | $41.1M-17.9% | $50.1M-62.9% | $135.0M+126.1% | $59.7M |
| Capital Expenditures | $12.4M-5.8% | $13.2M+3.9% | $12.7M-16.2% | $15.2M+57.5% | $9.6M-3.9% | $10.0M-69.5% | $32.9M+12.2% | $29.3M |
| Free Cash Flow | $39.1M+40.3% | $27.9M-37.3% | $44.4M+31.1% | $33.9M+7.5% | $31.5M-21.4% | $40.1M-60.7% | $102.1M+235.9% | $30.4M |
| Investing Cash Flow | -$12.5M+88.2% | -$105.4M-682.2% | -$13.5M-4.9% | -$12.9M+85.5% | -$88.7M-375.5% | -$18.7M+65.1% | -$53.6M-20.9% | -$44.3M |
| Financing Cash Flow | -$25.9M-39.2% | -$18.6M-27.2% | -$14.6M+30.2% | -$20.9M-15.8% | -$18.1M+92.3% | -$235.1M-258.3% | $148.5M+155.1% | -$269.3M |
| Dividends Paid | $9.6M+12.2% | $8.6M+1.8% | $8.4M-6.1% | $9.0M+10.5% | $8.1M-48.8% | $15.8M-8.6% | $17.3M+10.2% | $15.7M |
| Share Buybacks | $13.7M+118.8% | $6.3M+1.4% | $6.2M-23.6% | $8.1M+18.8% | $6.8M | N/A | N/A | N/A |
WOR Financial Ratios
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.8%-1.2pp | 27.1%-2.2pp | 29.3%+2.3pp | 27.0%+2.7pp | 24.3%+1.2pp | 23.1%+17.3pp | 5.8%-0.0pp | 5.8% |
| Operating Margin | 3.8%+0.7pp | 3.0%-3.8pp | 6.9%+5.6pp | 1.3%+3.1pp | -1.8%-3.2pp | 1.4%+2.7pp | -1.3%-0.7pp | -0.6% |
| Net Margin | 8.3%-3.2pp | 11.6%-1.5pp | 13.0%+2.7pp | 10.3%+0.9pp | 9.4%+2.5pp | 7.0%+4.7pp | 2.2%-5.8pp | 8.1% |
| Return on Equity | 2.8%-0.8pp | 3.7%-0.6pp | 4.2%+1.1pp | 3.1%+0.4pp | 2.7%+0.3pp | 2.4%+1.1pp | 1.4%-4.1pp | 5.4% |
| Return on Assets | 1.6%-0.5pp | 2.0%-0.3pp | 2.4%+0.6pp | 1.7%+0.2pp | 1.5%+0.2pp | 1.3%+0.6pp | 0.7%-2.1pp | 2.8% |
| Current Ratio | 3.26-0.0 | 3.30-0.2 | 3.51-0.0 | 3.56+0.1 | 3.47+0.1 | 3.42+1.5 | 1.88-0.1 | 1.95 |
| Debt-to-Equity | 0.320.0 | 0.320.0 | 0.31-0.0 | 0.320.0 | 0.330.0 | 0.33+0.2 | 0.170.0 | 0.17 |
| FCF Margin | 11.9%+2.8pp | 9.2%-5.4pp | 14.6%+2.2pp | 12.4%+0.1pp | 12.3%-0.4pp | 12.7%+3.3pp | 9.4%+6.8pp | 2.5% |
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Frequently Asked Questions
What is Worthington's annual revenue?
Worthington (WOR) reported $1.2B in total revenue for fiscal year 2025. This represents a -7.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Worthington's revenue growing?
Worthington (WOR) revenue declined by 7.4% year-over-year, from $1.2B to $1.2B in fiscal year 2025.
Is Worthington profitable?
Yes, Worthington (WOR) reported a net income of $96.1M in fiscal year 2025, with a net profit margin of 8.3%.
What is Worthington's earnings per share (EPS)?
Worthington (WOR) reported diluted earnings per share of $1.92 for fiscal year 2025. This represents a 174.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Worthington's EBITDA?
Worthington (WOR) had EBITDA of $37.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Worthington have?
As of fiscal year 2025, Worthington (WOR) had $250.1M in cash and equivalents against $302.9M in long-term debt.
What is Worthington's gross margin?
Worthington (WOR) had a gross margin of 27.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Worthington's operating margin?
Worthington (WOR) had an operating margin of -0.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Worthington's net profit margin?
Worthington (WOR) had a net profit margin of 8.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Worthington's return on equity (ROE)?
Worthington (WOR) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Worthington's free cash flow?
Worthington (WOR) generated $159.2M in free cash flow during fiscal year 2025. This represents a -22.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Worthington's operating cash flow?
Worthington (WOR) generated $209.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Worthington's total assets?
Worthington (WOR) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Worthington's capital expenditures?
Worthington (WOR) invested $50.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Worthington buy back shares?
Yes, Worthington (WOR) spent $30.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Worthington have outstanding?
Worthington (WOR) had 50M shares outstanding as of fiscal year 2025.
What is Worthington's current ratio?
Worthington (WOR) had a current ratio of 3.48 as of fiscal year 2025, which is generally considered healthy.
What is Worthington's debt-to-equity ratio?
Worthington (WOR) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Worthington's return on assets (ROA)?
Worthington (WOR) had a return on assets of 5.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Worthington's Piotroski F-Score?
Worthington (WOR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Worthington's earnings high quality?
Worthington (WOR) has an earnings quality ratio of 2.18x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Worthington cover its interest payments?
Worthington (WOR) has an interest coverage ratio of -5.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Worthington?
Worthington (WOR) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.