Worthington Steel, Inc. (WS) Balance Sheet
WS balance sheet, FY2026
May 31, 2026 · U.S. dollars$2.27B assets = $990.2M liabilities + $1.28B equity
Both columns are drawn to the same scale: what WS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WS financial health
Descriptive bands, not a rating. Fiscal FY2026.
WS balance sheet trends, FY2021–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.37BFY2021 | $2.27BFY2026 | +10.7%/yr | |
| Total liabilities | $551.8MFY2021 | $990.2MFY2026 | +12.4%/yr | |
| Shareholders’ equity | $661.3MFY2021 | $1.07BFY2026 | +10.1%/yr | |
| Cash & short-term investments | $17.5MFY2021 | $84.6MFY2026 | +37.1%/yr | |
| Total debt | $8.1MFY2021 | $354.4MFY2026 | +112.9%/yr | |
| Net cash (debt) | $9.4MFY2021 | −$269.8MFY2026 | −$279.2M | |
| Working capital | $434.0MFY2021 | $355.3MFY2026 | −$78.7M | |
| Book value per share | $13.22FY2021 | $21.53FY2026 | +10.2%/yr | |
| Current ratio | 1.86FY2021 | 1.46FY2026 | −0.40 | |
| Debt / equity | 0.01FY2021 | 0.33FY2026 | +0.32 | |
| Shares outstanding | 50.0MFY2021 | 49.8MFY2026 | −0.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WS assets
WS liabilities and equity
WS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WS balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $84.6M | $38.0M | $40.2M | $32.7M | $20.1M | $17.5M |
| Cash & equivalents | $84.6M | $38.0M | $40.2M | $32.7M | $20.1M | $17.5M |
| Receivables | $510.1M | $438.8M | $476.8M | $472.3M | $600.9M | $405.2M |
| Inventory | $415.7M | $422.0M | $405.3M | $414.8M | $569.5M | $442.9M |
| Other current assets | $119.1M | $149.7M | $79.5M | $61.1M | $76.7M | $74.5M |
| Total current assets | $1.13B | $1.05B | $1.00B | $980.9M | $1.27B | $940.1M |
| Property, plant & equipment (net) | $748.2M | $620.8M | $547.7M | $489.7M | $511.1M | $283.6M |
| Goodwill & intangible assets | $125.2M | $147.5M | $156.6M | $162.0M | $169.8M | $37.6M |
| Long-term investments | $245.6M | $126.6M | $135.0M | $114.5M | $119.3M | $92.0M |
| Other non-current assets | $20.5M | $18.4M | $25.3M | $17.2M | $16.8M | $13.3M |
| Total assets | $2.27B | $1.96B | $1.87B | $1.76B | $2.08B | $1.37B |
| Liabilities | ||||||
| Accounts payable | $422.4M | $402.5M | $380.4M | $402.2M | $524.1M | $452.3M |
| Short-term debt | $225.7M | $156.9M | $155.6M | $8.7M | $68.6M | $2.9M |
| Deferred revenue | — | — | $13.9M | — | — | — |
| Total current liabilities | $774.2M | $631.5M | $618.4M | $478.4M | $657.9M | $506.1M |
| Long-term debt | $44.4M | $2.3M | $0 | $0 | $20.0M | $0 |
| Lease obligations | $97.5M | $76.4M | $75.9M | $77.6M | $70.9M | $8.1M |
| Other long-term liabilities | $171.6M | $130.1M | $130.5M | $131.4M | $139.7M | $45.7M |
| Total liabilities | $990.2M | $763.9M | $748.9M | $609.8M | $817.7M | $551.8M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | — | — | — | $1.03B | $1.13B | $622.9M |
| Retained earnings (deficit) | $148.8M | $164.2M | $86.1M | $0 | — | — |
| Accumulated other comprehensive income | $3.9M | −$4.0M | −$6.1M | −$2.1M | $1.8M | $38.4M |
| Minority interest | $199.6M | $123.8M | $132.2M | $125.6M | — | — |
| Total shareholders' equity | $1.07B | $1.07B | $985.3M | $1.03B | $1.13B | $661.3M |
| Key figures | ||||||
| Total debt | $354.4M | $227.9M | $223.9M | $80.4M | $153.9M | $8.1M |
| Net cash (debt) | −$269.8M | −$189.9M | −$183.7M | −$47.7M | −$133.8M | $9.4M |
| Working capital | $355.3M | $417.0M | $383.4M | $502.5M | $609.2M | $434.0M |
| Tangible book value | $946.9M | $926.6M | $828.7M | $867.0M | $963.4M | $623.7M |
| Book value per share | $21.53 | $21.70 | $19.79 | $20.57 | $22.65 | $13.22 |
| Shares outstanding | 49.8M | 49.5M | 49.8M | 50.0M | 50.0M | 50.0M |
| Current ratio | 1.46 | 1.66 | 1.62 | 2.05 | 1.93 | 1.86 |
| Quick ratio | 0.77 | 0.76 | 0.84 | 1.06 | 0.94 | 0.84 |
| Debt / equity | 0.33 | 0.21 | 0.23 | 0.08 | 0.14 | 0.01 |
| Equity / assets | 47.2% | 54.8% | 52.8% | 58.3% | 54.4% | 48.4% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $248.2M | $84.6M | $90.0M | $89.8M | $78.3M | $38.0M | $63.3M | $52.0M | $36.0M | $40.2M | $60.8M | $214.4M |
| Cash & equivalents | $248.2M | $84.6M | $90.0M | $89.8M | $78.3M | $38.0M | $63.3M | $52.0M | $36.0M | $40.2M | $60.8M | $214.4M |
| Receivables | $1.42B | $496.2M | $464.3M | $445.6M | $491.9M | $438.8M | $420.7M | $382.1M | $451.0M | $476.8M | $475.0M | $430.1M |
| Inventory | $0 | $415.7M | $435.6M | $413.0M | $478.5M | $422.0M | $342.3M | $343.0M | $392.1M | $405.3M | $408.2M | $373.8M |
| Other current assets | $2.16B | $133.0M | $116.6M | $101.9M | $99.8M | $149.7M | $86.3M | $80.3M | $76.4M | $79.5M | $78.9M | $68.2M |
| Total current assets | $3.83B | $1.13B | $1.11B | $1.05B | $1.15B | $1.05B | $912.6M | $857.4M | $955.5M | $1.00B | $1.02B | $1.09B |
| Property, plant & equipment (net) | $0 | $748.2M | $776.4M | $757.5M | $751.7M | $620.8M | $590.3M | $574.0M | $557.4M | $547.7M | $519.6M | $505.5M |
| Goodwill & intangible assets | $119.5M | $125.2M | $190.3M | $189.8M | $191.7M | $147.5M | $148.6M | $153.4M | $155.2M | $156.6M | $158.3M | $159.4M |
| Long-term investments | $0 | $245.6M | $221.1M | $133.8M | $133.0M | $126.6M | $122.6M | $130.4M | $136.3M | $135.0M | $130.3M | $130.3M |
| Other non-current assets | $2.08B | $20.5M | $21.2M | $18.6M | $18.4M | $18.4M | $25.6M | $24.1M | $25.0M | $25.3M | $17.9M | $15.7M |
| Total assets | $6.02B | $2.27B | $2.32B | $2.15B | $2.24B | $1.96B | $1.80B | $1.74B | $1.83B | $1.87B | $1.85B | $1.90B |
| Liabilities | ||||||||||||
| Accounts payable | $1.17B | $422.4M | $401.9M | $339.2M | $385.7M | $402.5M | $334.9M | $285.5M | $359.3M | $380.4M | $407.3M | $349.9M |
| Short-term debt | $586.6M | $225.7M | $233.5M | $153.1M | $203.3M | $156.9M | $117.4M | $122.4M | $129.6M | $155.6M | $153.9M | $200.8M |
| Deferred revenue | — | — | — | — | — | — | — | — | $7.3M | $13.9M | $22.2M | $22.2M |
| Total current liabilities | $2.11B | $774.2M | $745.6M | $584.9M | $693.6M | $631.5M | $521.0M | $467.7M | $557.9M | $618.4M | $645.4M | $595.3M |
| Long-term debt | $0 | $44.4M | $36.7M | $47.2M | $49.1M | $2.3M | $2.2M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $97.5M | $101.2M | $96.7M | $99.9M | $76.4M | $77.0M | $72.0M | $73.8M | $75.9M | $75.1M | $75.1M |
| Other long-term liabilities | $2.21B | $171.6M | $175.8M | $171.0M | $169.7M | $130.1M | $133.4M | $126.5M | $128.3M | $130.5M | $133.3M | $130.6M |
| Total liabilities | $4.32B | $990.2M | $958.1M | $803.1M | $912.4M | $763.9M | $656.6M | $594.2M | $686.2M | $748.9M | $778.7M | $725.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | $0 | — | $0 | — | — | — | — | — | — | $1.04B |
| Retained earnings (deficit) | $121.8M | $148.8M | $205.7M | $203.5M | $192.5M | $164.2M | $116.5M | $111.0M | $106.3M | $86.1M | $40.9M | $40.9M |
| Accumulated other comprehensive income | −$15.6M | $3.9M | $2.1M | −$1.5M | −$2.9M | −$4.0M | −$15.4M | −$9.8M | −$3.9M | −$6.1M | −$6.3M | $800,000 |
| Minority interest | — | $199.6M | $232.9M | $229.8M | $226.0M | $123.8M | — | — | — | — | — | — |
| Total shareholders' equity | $1.03B | $1.07B | $1.12B | $1.12B | $1.10B | $1.07B | $1.01B | $1.01B | $1.01B | $985.3M | $937.6M | $1.04B |
| Key figures | ||||||||||||
| Total debt | $2.58B | $354.4M | $352.6M | $278.8M | $333.3M | $227.9M | $189.2M | $187.0M | $196.0M | $223.9M | $222.3M | $269.8M |
| Net cash (debt) | −$2.34B | −$269.8M | −$262.6M | −$189.0M | −$255.0M | −$189.9M | −$125.9M | −$135.0M | −$160.0M | −$183.7M | −$161.5M | −$55.4M |
| Working capital | $1.72B | $355.3M | $360.9M | $465.4M | $454.9M | $417.0M | $391.6M | $389.7M | $397.6M | $383.4M | $377.5M | $491.2M |
| Tangible book value | $912.8M | $946.9M | $934.2M | $927.3M | $913.2M | $926.6M | $863.7M | $857.4M | $853.9M | $828.7M | $779.3M | $880.9M |
| Book value per share | $20.65 | $21.53 | $22.58 | $22.48 | $22.28 | $21.70 | $20.05 | $19.98 | $20.02 | $19.97 | $19.02 | $21.10 |
| Shares outstanding | 50.0M | 49.8M | 49.8M | 49.7M | 49.6M | 49.5M | 50.5M | 50.6M | 50.4M | 49.3M | 49.3M | 49.3M |
| Current ratio | 1.81 | 1.46 | 1.48 | 1.80 | 1.66 | 1.66 | 1.75 | 1.83 | 1.71 | 1.62 | 1.58 | 1.83 |
| Quick ratio | 0.79 | 0.75 | 0.74 | 0.92 | 0.82 | 0.76 | 0.93 | 0.93 | 0.87 | 0.84 | 0.83 | 1.08 |
| Debt / equity | 2.50 | 0.33 | 0.31 | 0.25 | 0.30 | 0.21 | 0.19 | 0.19 | 0.19 | 0.23 | 0.24 | 0.26 |
| Equity / assets | 17.1% | 47.2% | 48.6% | 52.0% | 49.3% | 54.8% | 56.2% | 58.1% | 55.2% | 52.8% | 50.7% | 54.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 30, 2026); data from EODHD.
WS financial position
At the end of fiscal 2026 (May 31, 2026), Worthington Steel had total assets of $2.3 billion (up 15.7% from a year earlier), total liabilities of $990.2 million and shareholders' equity of $1.1 billion. It held $84.6 million in cash and short-term investments against $354.4 million of debt, net debt of $269.8 million. Its current ratio was 1.46. In the latest quarter (ended August 31, 2026) total assets were $6.0 billion and equity $1.0 billion.
Related: WS income statement, WS cash flow statement, WS key metrics. See the WS stock overview for the latest quote and news.
WS balance sheet FAQ
What are Worthington Steel's total assets?
Worthington Steel reported total assets of $2.3 billion at the end of fiscal 2026 (May 31, 2026), compared with $2.0 billion a year earlier.
How much debt does Worthington Steel have?
Worthington Steel had $354.4 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.33.
How much cash does Worthington Steel have?
Worthington Steel held $84.6 million in cash and short-term investments at the end of fiscal 2026; with $354.4 million of debt that is net debt of $269.8 million.
What is Worthington Steel's book value?
Worthington Steel's shareholders' equity (book value) was $1.1 billion at the end of fiscal 2026, or $21.53 per share.
What is Worthington Steel's current ratio?
Worthington Steel had current assets of $1.1 billion and current liabilities of $774.2 million, a current ratio of 1.46 (it can cover its short-term obligations).
How much goodwill does Worthington Steel have?
Worthington Steel carried $125.2 million of goodwill and intangible assets, 5.5% of total assets, at the end of fiscal 2026.