Worthington Steel, Inc. (WS) Income Statement
WS FY2026 at a glance
Fiscal year ended May 31, 2026 · U.S. dollarsWS revenue and net income
Where WS's revenue goes
FY2026Each bar shows an amount and its share of revenue. WS kept 0.5% of revenue as net income.
WS profit margins
WS growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.3% | −1.5% | +10.1% | — |
| Gross profit | +3.6% | +6.2% | +1.7% | — |
| Operating income | −28.5% | −4.4% | −13.9% | — |
| Net income | −84.4% | −41.7% | −36.8% | — |
| EPS (diluted) | +0.5% | +6.9% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WS quarterly EPS vs estimates
Worthington Steel beat the analyst EPS estimate in 3 of the last 8 quarters.
WS income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | $3.44B | $3.09B | $3.43B | $3.61B | $4.07B | $2.13B |
| Cost of revenue | $3.04B | $2.70B | $2.99B | $3.27B | $3.67B | $1.76B |
| Gross profit | $402.6M | $388.6M | $439.8M | $336.5M | $395.5M | $370.8M |
| Sales, general & admin | $297.4M | $228.9M | $224.4M | $200.8M | $180.3M | $147.4M |
| Total operating expenses | $297.5M | $241.6M | $245.3M | $216.2M | $168.9M | $149.3M |
| Operating income | $105.1M | $147.0M | $194.5M | $120.3M | $226.6M | $221.5M |
| Interest income | — | $2.7M | $16.4M | $4.7M | — | — |
| Interest expense | $26.9M | $7.1M | $6.0M | $3.0M | $3.0M | — |
| Income before taxes | $25.5M | $148.1M | $216.2M | $128.7M | $254.3M | $237.2M |
| Income taxes | $22.6M | $28.8M | $46.1M | $29.0M | $54.0M | $48.5M |
| Net income | $17.3M | $110.7M | $154.7M | $87.1M | $180.4M | $171.0M |
| EBITDA | $189.9M | $221.2M | $287.5M | $201.3M | $316.8M | $268.4M |
| EPS (diluted) | $2.16 | $2.15 | $3.34 | $1.77 | $3.66 | — |
| Gross margin | 11.7% | 12.6% | 12.8% | 9.3% | 9.7% | 17.4% |
| Operating margin | 3.1% | 4.8% | 5.7% | 3.3% | 5.6% | 10.4% |
| Net margin | 0.5% | 3.6% | 4.5% | 2.4% | 4.4% | 8.0% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.73B | $929.2M | $769.8M | $871.9M | $872.9M | $832.9M | $687.4M | $739.0M | $834.0M | $911.0M | $805.8M | $808.0M |
| Cost of revenue | $2.47B | $811.1M | $693.7M | $778.7M | $757.7M | $705.9M | $606.2M | $659.0M | $733.6M | $780.0M | $685.7M | $747.8M |
| Gross profit | $261.2M | $118.1M | $76.1M | $93.2M | $115.2M | $127.0M | $81.2M | $80.0M | $100.4M | $131.0M | $120.1M | $60.2M |
| Sales, general & admin | $208.8M | $81.1M | $77.5M | $70.9M | $67.9M | $56.2M | $54.6M | $61.1M | $57.0M | $63.7M | $52.8M | $52.8M |
| Total operating expenses | $205.2M | $81.2M | $77.5M | $70.9M | $66.9M | $60.6M | $62.9M | $61.1M | $57.0M | $63.7M | $53.8M | $69.0M |
| Operating income | $56.0M | $36.9M | −$1.4M | $22.3M | $48.3M | $66.4M | $18.3M | $18.9M | $43.4M | $67.3M | $66.3M | −$8.8M |
| Interest income | — | — | $1.4M | $4.1M | $3.5M | $3.0M | $1.4M | $3.0M | — | — | — | — |
| Interest expense | $38.8M | $19.2M | $2.1M | $2.7M | $2.9M | $1.0M | $1.4M | $2.1M | $2.6M | $2.4M | $2.9M | $200,000 |
| Income before taxes | $12.0M | −$66.5M | $14.3M | $25.7M | $52.0M | $75.1M | $17.1M | $19.7M | $36.2M | $75.3M | $66.4M | −$4.6M |
| Income taxes | $12.1M | $1.5M | $3.5M | $4.2M | $13.4M | $16.2M | $5.0M | $3.6M | $4.0M | $17.6M | $14.0M | −$2.5M |
| Net income | −$10.0M | −$48.7M | $10.4M | $18.8M | $36.3M | $55.7M | $13.8M | $12.8M | $28.4M | $53.2M | $49.0M | −$6.0M |
| EBITDA | $78.6M | $58.1M | $38.0M | $50.1M | $75.2M | $93.0M | $35.1M | $38.1M | $55.0M | $93.8M | $85.2M | $12.0M |
| EPS (diluted) | $0.57 | $0.74 | $0.27 | $0.38 | $0.77 | $1.05 | $0.35 | $0.19 | $0.56 | $1.06 | $0.99 | $0.11 |
| Gross margin | 9.6% | 12.7% | 9.9% | 10.7% | 13.2% | 15.2% | 11.8% | 10.8% | 12.0% | 14.4% | 14.9% | 7.5% |
| Operating margin | 2.1% | 4.0% | −0.2% | 2.6% | 5.5% | 8.0% | 2.7% | 2.6% | 5.2% | 7.4% | 8.2% | −1.1% |
| Net margin | −0.4% | −5.2% | 1.4% | 2.2% | 4.2% | 6.7% | 2.0% | 1.7% | 3.4% | 5.8% | 6.1% | −0.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WS's financial statements (latest annual report filed July 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WS financial results
In fiscal year 2026 (ended May 31, 2026), Worthington Steel reported revenue of $3.4 billion, up 11.3% from the year before. It had net income of $17.3 million (down 84.4%), a net profit margin of 0.5%. Diluted earnings per share came to $2.16. Over five years revenue grew at an average rate of 10.1% a year.
See the WS stock overview for the latest quote and news, or the WS chart for price history and technical indicators.
WS income statement FAQ
What is Worthington Steel's annual revenue?
Worthington Steel reported total revenue of $3.4 billion for fiscal year 2026, which ended on May 31, 2026. That was up 11.3% from $3.1 billion the previous year.
Is Worthington Steel profitable?
Yes. Worthington Steel reported net income of $17.3 million in fiscal 2026, a net profit margin of 0.5%; its operating margin was 3.1%.
What is Worthington Steel's gross margin?
Worthington Steel's gross margin was 11.7% in fiscal 2026: for every $100 of revenue, Worthington Steel kept $12 after the direct cost of its products and services.
How fast is Worthington Steel growing?
Revenue grew 10.1% a year on average over the last five fiscal years, from $2.1 billion to $3.4 billion.
What are Worthington Steel's earnings per share?
Worthington Steel earned $2.16 per diluted share in fiscal 2026, compared with $2.15 a year earlier.
When does Worthington Steel's fiscal year end?
Worthington Steel's fiscal year ends in May. The latest annual report covers the year ended May 31, 2026 and was filed on July 30, 2026.