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Worthington Industries Inc (WOR)

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Upturn Advisory Summary
12/08/2025: WOR (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $68.2
1 Year Target Price $68.2
| 2 | Strong Buy |
| 0 | Buy |
| 1 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 76.6% | Avg. Invested days 65 | Today’s Advisory PASS |
Upturn Star Rating ![]() | Upturn Advisory Performance | Stock Returns Performance |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.75B USD | Price to earnings Ratio 250.82 | 1Y Target Price 68.2 |
Price to earnings Ratio 250.82 | 1Y Target Price 68.2 | ||
Volume (30-day avg) 4 | Beta 1.22 | 52 Weeks Range 37.50 - 70.70 | Updated Date 12/8/2025 |
52 Weeks Range 37.50 - 70.70 | Updated Date 12/8/2025 | ||
Dividends yield (FY) 1.27% | Basic EPS (TTM) 0.22 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-12-16 | When - | Estimate 0.7162 | Actual - |
Profitability
Profit Margin 8.91% | Operating Margin (TTM) 3.86% |
Management Effectiveness
Return on Assets (TTM) 2.43% | Return on Equity (TTM) 11.36% |
Valuation
Trailing PE 250.82 | Forward PE 15.41 | Enterprise Value 2923132344 | Price to Sales(TTM) 2.29 |
Enterprise Value 2923132344 | Price to Sales(TTM) 2.29 | ||
Enterprise Value to Revenue 2.44 | Enterprise Value to EBITDA 15 | Shares Outstanding 49665056 | Shares Floating 31143467 |
Shares Outstanding 49665056 | Shares Floating 31143467 | ||
Percent Insiders 37.81 | Percent Institutions 54.32 |
Upturn AI SWOT
Worthington Industries Inc

Company Overview
History and Background
Worthington Industries Inc. was founded by John H. McConnell in 1955 in Columbus, Ohio. Initially a small metal fabrication business, it has grown into a diversified global manufacturing company. Key milestones include its expansion into various industrial and consumer markets through organic growth and strategic acquisitions, and its continuous innovation in metal processing and product development. The company has evolved significantly, adapting to market changes and diversifying its product portfolio to serve a wide range of industries.
Core Business Areas
- Steel Processing: This segment involves the processing, distribution, and repurposing of steel. Worthington Industries is a leading North American processor of flat-rolled steel, serving diverse markets with a range of steel products and custom solutions.
- Performance-Critical Components: This segment designs and manufactures a wide array of components and engineered products, including pressure cylinders, fuel systems, staged combustion systems, and consumer products. They serve industries such as automotive, industrial, energy, and agriculture.
- Consumer Products: This segment focuses on the manufacturing and marketing of a variety of consumer products, including propane tanks, grills, and outdoor living products. They cater to both retail and commercial markets.
Leadership and Structure
Worthington Industries Inc. is led by a seasoned management team with extensive experience in manufacturing and industrial sectors. The organizational structure is designed to manage its diverse business segments effectively, with dedicated leadership for each core area to foster specialization and drive performance.
Top Products and Market Share
Key Offerings
- Steel Processing Services: Worthington Industries is a major provider of steel processing services, including slitting, blanking, and cutting-to-length. They offer a wide range of steel grades and coatings. Their market share in this highly fragmented sector is significant, with key competitors including Ryerson Holding Corporation (RYI) and Nucor Corporation (NUE).
- Propane Cylinders and Tanks: The company is a leading manufacturer of propane cylinders for residential, commercial, and industrial use. They also produce other pressure vessels. Key competitors in this segment include Manchester Tank & Equipment Co. (a subsidiary of Trinity Industries, TRN) and various international manufacturers.
- Fuel Systems and Components: Worthington manufactures high-pressure cylinders, fuel tanks, and other engineered components for the automotive and industrial sectors. This includes components for traditional vehicles and emerging fuel technologies. Competitors vary by specific product but can include Magna International (MGA) and Valeo (FR.PA).
Market Dynamics
Industry Overview
Worthington Industries operates within the industrial manufacturing and metals processing sectors. These industries are cyclical, influenced by factors such as global economic growth, commodity prices (especially steel and energy), construction activity, and demand from end-user markets like automotive and agriculture. The industry is characterized by intense competition, the need for technological innovation, and an increasing focus on sustainability.
Positioning
Worthington Industries is well-positioned as a diversified manufacturer with strong capabilities in steel processing and the production of performance-critical components and consumer products. Its competitive advantages include its extensive processing network, broad product portfolio, strong customer relationships, and a history of operational excellence and innovation. The company's ability to serve multiple end markets provides resilience against sector-specific downturns.
Total Addressable Market (TAM)
The TAM for Worthington Industries is substantial, encompassing global markets for steel processing, industrial gas cylinders, automotive components, and consumer propane products. While precise TAM figures are difficult to quantify due to the breadth of their operations, the combined global market for these sectors is in the hundreds of billions of dollars annually. Worthington Industries holds a significant position within North America for its core offerings but is a smaller player on the global stage, indicating ample room for expansion.
Upturn SWOT Analysis
Strengths
- Diversified business model across multiple industries and product lines.
- Strong reputation for quality and reliability in its products and services.
- Extensive steel processing capabilities and a broad distribution network.
- Established relationships with a diverse customer base.
- Commitment to innovation and product development.
Weaknesses
- Exposure to cyclicality in end markets (e.g., automotive, construction).
- Sensitivity to fluctuations in raw material prices (especially steel).
- Potential for integration challenges with past or future acquisitions.
- Dependence on certain key customer relationships in specific segments.
Opportunities
- Growth in emerging markets and new applications for its products.
- Expansion into adjacent product categories or service offerings.
- Leveraging new technologies for manufacturing efficiency and product innovation.
- Increasing demand for sustainable products and solutions.
- Strategic acquisitions to expand market reach or technological capabilities.
Threats
- Intense competition from domestic and international players.
- Economic downturns impacting demand for its products.
- Rising raw material and energy costs.
- Changes in regulatory environments and trade policies.
- Disruptions in supply chains.
Competitors and Market Share
Key Competitors
- Ryerson Holding Corporation (RYI)
- Nucor Corporation (NUE)
- Trinity Industries, Inc. (TRN)
- Magna International Inc. (MGA)
- Valeo S.A. (FR.PA)
Competitive Landscape
Worthington Industries benefits from its diversified product portfolio and strong presence in North America. Its competitive advantages lie in its integrated steel processing capabilities, customer-centric approach, and established reputation. However, it faces strong competition from larger, more specialized players in certain segments and from global manufacturers with lower cost structures. The company must continually innovate and optimize operations to maintain its competitive edge.
Major Acquisitions
Worthington Steel
- Year: 2023
- Acquisition Price (USD millions):
- Strategic Rationale: This was a significant spin-off and combination of Worthington's steel processing business with Talen Energyu2019s steel processing assets to form a new, publicly traded company, Worthington Steel. This strategic move aimed to unlock value for shareholders by creating a more focused entity in the steel processing market.
Other Strategic Acquisitions
- Year:
- Acquisition Price (USD millions):
- Strategic Rationale: Over its history, Worthington Industries has made various strategic acquisitions to expand its product lines, enter new markets, and enhance its manufacturing capabilities, contributing to its diversification and growth.
Growth Trajectory and Initiatives
Historical Growth: Worthington Industries has experienced steady historical growth, driven by its strategic expansions into new markets and product lines, as well as successful acquisitions. The company has demonstrated an ability to adapt to changing industrial landscapes and to consistently reinvest in its operations and capabilities.
Future Projections: Future growth projections for Worthington Industries are typically based on analyst expectations that consider industry trends, economic forecasts, and the company's strategic initiatives. These projections often anticipate continued growth in its core segments, with potential upside from new product introductions and market penetration. Specific analyst consensus would need to be consulted for current quantitative projections.
Recent Initiatives: Recent initiatives by Worthington Industries may include investments in advanced manufacturing technologies, efforts to enhance supply chain efficiency, strategic partnerships, and a focus on developing products for emerging industries such as alternative fuels and renewable energy components.
Summary
Worthington Industries Inc. is a well-established, diversified manufacturer with strong capabilities in steel processing and performance-critical components. Its broad product portfolio and customer base provide resilience, while its commitment to innovation drives future growth. However, the company's performance is susceptible to economic cycles and commodity price volatility. Continuous operational efficiency and strategic market expansion are crucial for sustained success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations (SEC Filings)
- Financial News and Analysis Websites (e.g., Bloomberg, Reuters, Yahoo Finance)
- Industry Market Research Reports
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. Market share data and TAM figures are estimates and can vary based on methodology and reporting period.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Worthington Industries Inc
Exchange NYSE | Headquaters Columbus, OH, United States | ||
IPO Launch date 1990-03-26 | President, CEO & Director Mr. Joseph B. Hayek | ||
Sector Industrials | Industry Metal Fabrication | Full time employees 6000 | |
Full time employees 6000 | |||
Worthington Enterprises, Inc. operates as an industrial manufacturing company. It operates through two segments, Consumer Products and Building Products. The Consumer Products segment provides products in the tools, outdoor living, and celebrations end markets. The segment's products include hand-held torches, micro torches, lighters, accessories, and fuel for constructing, fixing making, and creating; precision and specialty hand, digital, and safety tools; drywall tools and accessories used for finishing and taping, cutting, siding, and roofing; propane-filled cylinders for torches, camping stoves and other applications, helium-filled balloon kits, and gas grills and pizza ovens. This segment sells its products primarily to mass merchandisers, retailers, and distributors under the Balloon Time, Bernzomatic, Coleman, Garden-Weasel, General, Halo, Hawkeye, Level5, Mag-Torch, Pactool International, and Worthington Pro Grade brands. The Building Products segment provides pressurized containment solutions, such as refrigerant gas cylinders used in holding refrigerant gases for commercial, residential, and automotive air conditioning, and refrigeration systems; liquefied petroleum gas cylinders that holds fuel for residential and light commercial heating systems, barbeque grills and recreational vehicle equipment, industrial forklifts, and commercial/residential cooking; well water and expansion tanks used primarily in the residential and commercial markets; specialty products, including various fire suppression tanks, chemical tanks, and foam and adhesive tanks; and ceiling suspension systems. The company was formerly known as Worthington Industries, Inc. Worthington Enterprises, Inc. was founded in 1955 and is headquartered in Columbus, Ohio.

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