Worthington Industries (WOR) financial statements
Worthington Industries reported revenue of $1.4B in fiscal 2026, down 8.3% a year over 9 years.
Net income was $156M and the operating margin 5.5%, against 7.1% in 2017.
Free cash flow was $170M, and the company returned $37M in dividends and $44M in net buybacks.
The diluted share count fell 23% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Worthington Industries's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B | $3.6B | $3.8B | $3.1B | $3.2B | $1.3B | $1.4B | $1.2B | $1.2B | $1.4B |
| Cost of revenue | $2.5B | $3.0B | $3.3B | $2.6B | $2.5B | $982M | $1.1B | $961M | $835M | $1.0B |
| Gross profit | $536M | $563M | $480M | $443M | $639M | $328M | $324M | $285M | $319M | $378M |
| Selling, general and admin | $316M | $367M | $338M | $328M | $351M | $281M | $287M | $283M | $268M | $295M |
| Operating income | $213M | $142M | $145M | $22M | $167M | $49M | $30M | -$73M | -$11M | $76M |
| Interest expense | $30M | $39M | $38M | $32M | $30M | $24M | $18M | $2M | $2M | $6M |
| Pre-tax income | $297M | $209M | $206M | $111M | $918M | $211M | $160M | $74M | $129M | $201M |
| Income tax | $79M | $8M | $43M | $26M | $176M | $53M | $35M | $39M | $34M | $46M |
| Net income | $205M | $195M | $153M | $79M | $724M | $379M | $257M | $111M | $96M | $156M |
| EPS (diluted) | $3.15 | $3.09 | $2.61 | $1.41 | $13.42 | $7.44 | $5.19 | $2.20 | $1.92 | $3.14 |
| Diluted shares | 65M | 63M | 59M | 56M | 54M | 51M | 49M | 50M | 50M | 50M |
| Gross margin | 17.8% | 15.7% | 12.8% | 14.5% | 20.2% | 25.0% | 22.8% | 22.9% | 27.7% | 27.4% |
| Operating margin | 7.1% | 4.0% | 3.9% | 0.7% | 5.3% | 3.7% | 2.1% | -5.9% | -0.9% | 5.5% |
| Net margin | 6.8% | 5.4% | 4.1% | 2.6% | 22.8% | 29.0% | 18.1% | 8.9% | 8.3% | 11.3% |
Balance sheet
Fiscal years, from Worthington Industries's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $278M | $122M | $92M | $147M | $640M | $34M | $422M | $244M | $250M | $28M |
| Receivables | $487M | $573M | $502M | $341M | $640M | $857M | $225M | $200M | $216M | $228M |
| Inventory | $354M | $454M | $484M | $405M | $565M | $759M | $194M | $165M | $169M | $207M |
| Total current assets | $1.2B | $1.2B | $1.2B | $983M | $2.0B | $1.8B | $1.9B | $674M | $685M | $524M |
| Property, plant and equipment | $570M | $585M | $579M | $573M | $515M | $696M | $256M | $227M | $270M | $311M |
| Goodwill | $248M | $345M | $335M | $321M | $351M | $321M | $336M | $332M | $376M | $501M |
| Total assets | $2.3B | $2.6B | $2.5B | $2.3B | $3.4B | $3.6B | $3.7B | $1.6B | $1.7B | $1.8B |
| Total current liabilities | $521M | $647M | $698M | $388M | $788M | $932M | $718M | $178M | $197M | $221M |
| Long-term debt | $572M | $749M | $598M | $700M | $710M | $696M | $690M | $298M | $303M | $306M |
| Total liabilities | $1.3B | $1.6B | $1.6B | $1.4B | $1.8B | $2.0B | $1.8B | $748M | $757M | $821M |
| Shareholders' equity | $952M | $919M | $831M | $821M | $1.4B | $1.5B | $1.7B | $889M | $937M | $1.0B |
| Net debt | $300M | $628M | $657M | $552M | $70M | $662M | $268M | $54M | $53M | $278M |
Cash flow
Fiscal years, from Worthington Industries's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $336M | $281M | $198M | $337M | $274M | $70M | $625M | $290M | $210M | $226M |
| Capital spending | $68M | $76M | $84M | $96M | $82M | $95M | $86M | $84M | $51M | $56M |
| Free cash flow | $267M | $205M | $113M | $241M | $192M | -$24M | $539M | $206M | $159M | $170M |
| Stock-based compensation | $14M | $14M | $12M | $12M | $19M | $16M | $19M | $17M | $16M | $14M |
| Dividends paid | $51M | $51M | $52M | $53M | $53M | $57M | $59M | $57M | $34M | $37M |
| Share buybacks (net) | $0 | -$204M | -$168M | -$51M | -$192M | -$180M | — | — | -$31M | -$44M |
| Net borrowing | -$3M | $166M | -$1M | -$155M | -$622,000 | $41M | -$52M | -$222M | — | -$2M |
| Free cash flow margin | 8.9% | 5.7% | 3.0% | 7.9% | 6.1% | -1.9% | 38.0% | 16.6% | 13.8% | 12.3% |
| Dividends per share | $0.78 | $0.81 | $0.89 | $0.95 | $0.98 | $1.12 | $1.20 | $1.13 | $0.68 | $0.74 |
Questions
What was Worthington Industries's revenue in 2026?
$1.4B in fiscal 2026, from its 10-K filing.
How much free cash flow does Worthington Industries generate?
$170M in fiscal 2026 (operating cash flow minus capital spending).
From Worthington Industries's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.