Worthington Steel Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (May 31, 2026 · FY), Worthington Steel Inc reported revenue of $3.4B (+11.3% year on year) and net income of ($12.9M) (-110.8% year on year).
| Line item | May 31, 2026 · FY | May 31, 2025 · FY | May 31, 2024 · FY |
|---|---|---|---|
| Net sales | $3.4B | $3.1B | $3.4B |
| Cost of goods sold | $3.0B | $2.7B | $3.0B |
| Gross margin | $403.3M | $388.6M | $439.8M |
| Selling, general and administrative expense | $297.4M | $231.6M | $224.4M |
| Impairment of goodwill | $53.8M | — | — |
| Impairment of long-lived assets and other assets | $60.5M | — | — |
| Restructuring and other (income) expense, net | ($7.0M) | $2.6M | $0 |
| Separation costs | $0 | $0 | $19.5M |
| Operating income (loss) | ($1.4M) | $147.0M | $194.5M |
| Miscellaneous income, net | $16.6M | $3.8M | $5.3M |
| Interest expense, net | ($28.4M) | ($7.1M) | ($6.0M) |
| Equity in net income of unconsolidated affiliate | $20.3M | $4.4M | $22.4M |
| Earnings before income taxes | $7.1M | $148.1M | $216.2M |
| Income tax expense | $20.0M | $28.8M | $46.1M |
| Net earnings (loss) | ($12.9M) | $119.3M | $170.1M |
| Net earnings (loss) attributable to noncontrolling interests | ($21.4M) | $8.6M | $15.4M |
| Net earnings attributable to controlling interest | $8.5M | $110.7M | $154.7M |
| Weighted average common shares outstanding | 49.8M | 49.5M | 49.3M |
| Weighted average common shares outstanding | 50.8M | 50.5M | 49.8M |
| Earnings per share attributable to controlling interest | $0.17 | $2.24 | $3.14 |
| Line item | Aug 31, 2026 · Q1 | Feb 28, 2026 · Q3 | Nov 30, 2025 · Q2 | Aug 31, 2025 · Q1 |
|---|---|---|---|---|
| Net sales | $2.7B | $769.8M | $871.9M | $872.9M |
| Cost of goods sold | $2.5B | $693.7M | $778.7M | $757.7M |
| Gross margin | $261.2M | $76.1M | $93.2M | $115.2M |
| Selling, general and administrative expense | $208.8M | $77.5M | $70.9M | $67.9M |
| Restructuring and other (income) expense, net | ($3.6M) | ($6.0M) | $0 | ($1.0M) |
| Operating income | $56.0M | $3.1M | $21.7M | $48.3M |
| Miscellaneous income (expense), net | ($10.5M) | $9.8M | ($100.0K) | $200.0K |
| Interest expense, net | ($38.8M) | ($2.1M) | ($2.7M) | ($2.9M) |
| Equity in net income of unconsolidated affiliate | $5.3M | $3.5M | $6.8M | $6.4M |
| Earnings before income taxes | $12.0M | $14.3M | $25.7M | $52.0M |
| Income tax expense | $12.1M | $3.5M | $4.2M | $13.4M |
| Net earnings (loss) from continuing operations | ($100.0K) | — | — | — |
| Net loss from discontinued operations | ($4.9M) | — | — | — |
| Net earnings (loss) | ($5.0M) | $10.8M | $21.5M | $38.6M |
| Net earnings attributable to noncontrolling interests | $5.0M | $400.0K | $2.7M | $1.8M |
| Net earnings (loss) attributable to controlling interest | ($10.0M) | $10.4M | $18.8M | $36.8M |
| Net earnings (loss) from continuing operations | ($7.0M) | — | — | — |
| Net loss from discontinued operations | ($3.0M) | — | — | — |
| Consolidated earnings per share - basic | -$0.20 | $0.21 | $0.38 | $0.73 |
| Continuing operations | ($0.14) | — | — | — |
| Discontinued operations | ($0.06) | — | — | — |
| Consolidated earnings per share - diluted | -$0.20 | $0.20 | $0.37 | $0.72 |
| Weighted average common shares outstanding - basic | 50.0M | 49.9M | 49.8M | 49.6M |
| Weighted average common shares outstanding - diluted | 50.0M | 50.9M | 50.7M | 50.6M |
| Common shares outstanding at end of period | 50.1M | 49.9M | 49.9M | 49.6M |
| Cash dividends declared per share | $0.16 | $0.16 | $0.16 | $0.16 |
| Line item | May 31, 2026 · FY | May 31, 2025 · FY | May 31, 2024 · FY |
|---|---|---|---|
| Cash and cash equivalents | $84.6M | $38.0M | $40.2M |
| Restricted cash | $0 | $54.9M | — |
| Receivables, less allowances of $1.1 and $3.8, respectively | $496.2M | $438.7M | $472.6M |
| Raw materials | $168.5M | $179.4M | $150.2M |
| Work in process | $145.9M | $165.6M | $176.8M |
| Finished products | $101.3M | $77.0M | $78.3M |
| Total inventories | $415.7M | $422.0M | $405.3M |
| Income taxes receivable | $14.3M | $100.0K | $4.2M |
| Assets held for sale | $9.1M | $11.5M | $2.9M |
| Prepaid expenses and other current assets | $110.0M | $83.3M | $76.6M |
| Total current assets | $1.1B | $1.0B | $1.0B |
| Investment in unconsolidated affiliate | $123.4M | $126.6M | $135.0M |
| Operating lease right-of-use assets | $77.8M | $72.6M | $72.9M |
| Finance lease right-of-use assets, net of accumulated amortization of $4.4 and $, respectively | $7.5M | — | — |
| Goodwill | $44.5M | $79.6M | $79.6M |
| Other intangible assets, net of accumulated amortization of $65.9 and $50.3, respectively | $77.3M | $67.9M | $77.0M |
| Deferred income taxes | $12.7M | $11.4M | $8.5M |
| Equity securities | $122.2M | — | — |
| Other assets | $7.8M | $7.0M | $16.8M |
| Land | $57.2M | $38.6M | $37.9M |
| Buildings and improvements | $272.5M | $190.4M | $177.1M |
| Machinery and equipment | $1.1B | $942.6M | $893.8M |
| Construction in progress | $105.9M | $132.7M | $83.6M |
| Total property, plant and equipment | $1.5B | $1.3B | $1.2B |
| Less: accumulated depreciation | $851.3M | $756.1M | $717.6M |
| Total property, plant and equipment, net | $649.3M | $548.2M | $474.8M |
| Total assets | $2.3B | $2.0B | $1.9B |
| Accounts payable | $424.0M | $402.5M | $380.4M |
| Short-term borrowings | $185.4M | $149.2M | $148.0M |
| Accrued compensation, contributions to employee benefit plans and related taxes | $60.0M | $43.0M | $52.8M |
| Dividends payable | $9.2M | $9.3M | $8.7M |
| Other accrued items | $56.2M | $15.3M | $15.7M |
| Current operating lease liabilities | $10.4M | $7.7M | $7.6M |
| Current finance lease liabilities | $2.9M | — | — |
| Income taxes payable | $700.0K | $4.5M | $5.2M |
| Current maturities of long-term debt | $27.0M | — | $0 |
| Total current liabilities | $775.8M | $631.5M | $618.4M |
| Other liabilities | $51.5M | $32.8M | $34.3M |
| Long-term debt | $44.4M | $2.3M | — |
| Noncurrent operating lease liabilities | $78.7M | $68.7M | $68.3M |
| Noncurrent finance lease liabilities | $5.5M | — | — |
| Deferred income taxes | $33.6M | $28.6M | $27.9M |
| Total liabilities | $989.5M | $763.9M | $748.9M |
| Redeemable noncontrolling interest (Redeemable NCI) | $65.3M | — | — |
| Total mezzanine equity | $65.3M | — | — |
| Line item | Aug 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $248.2M | $90.0M | $89.8M | $78.3M |
| Receivables, less allowances of $1.6 and $1.1, respectively | $1.4B | $461.6M | $440.8M | $490.3M |
| Raw materials | $935.9M | $179.6M | $177.5M | $215.1M |
| Work in process | $182.1M | $149.4M | $131.1M | $169.5M |
| Finished products | $592.4M | $106.6M | $104.4M | $93.9M |
| Total inventories | $1.7B | $435.6M | $413.0M | $478.5M |
| Income taxes receivable | $35.4M | $2.7M | $4.8M | $1.6M |
| Assets held for sale | $9.1M | — | — | — |
| Prepaid expenses and other current assets | $256.8M | $116.0M | $91.7M | $88.6M |
| Current assets of discontinued operations | $180.1M | $600.0K | $10.2M | $11.2M |
| Total current assets | $3.8B | $1.1B | $1.1B | $1.1B |
| Investment in unconsolidated affiliates | $106.7M | $119.8M | $133.8M | $133.0M |
| Operating lease right-of-use assets | $366.0M | $89.1M | $84.4M | $87.3M |
| Finance lease right-of-use assets, net of accumulated amortization of $4.7 and $4.4, respectively | $21.8M | $9.4M | $9.7M | $8.4M |
| Goodwill | $44.5M | $103.3M | $101.5M | $101.7M |
| Other intangible assets, net of accumulated amortization of $67.6 and $65.9, respectively | $75.0M | $87.0M | $88.3M | $90.0M |
| Deferred income taxes | $81.9M | $12.7M | $10.7M | $10.4M |
| Equity securities | $0 | $101.3M | — | — |
| Prepaid pension assets | $332.7M | — | — | — |
| Other assets | $45.8M | $8.5M | $7.9M | $8.0M |
| Land | $277.0M | $42.3M | $42.1M | $44.2M |
| Buildings and improvements | $393.9M | $221.5M | $218.9M | $217.8M |
| Machinery and equipment | $1.2B | $1.0B | $1.0B | $1.0B |
| Construction in progress | $118.1M | $182.9M | $170.0M | $151.7M |
| Total property, plant and equipment | $2.0B | $1.5B | $1.5B | $1.4B |
| Less: accumulated depreciation | $874.3M | $807.6M | $792.7M | $773.3M |
| Total property, plant and equipment, net | $1.1B | $677.9M | $663.4M | $656.0M |
| Non-current assets held for sale | $19.3M | — | — | — |
| Non-current assets of discontinued operations | $700.0K | — | — | — |
| Total assets | $6.0B | $2.3B | $2.1B | $2.2B |
| Accounts payable | $1.2B | $401.9M | $339.2M | $385.7M |
| Short-term borrowings | $530.9M | $192.7M | $110.0M | $160.0M |
| Accrued compensation, contributions to employee benefit plans and related taxes | $107.4M | $55.3M | $53.8M | $54.8M |
| Dividends payable | $9.2M | $9.1M | $9.0M | $9.1M |
| Other accrued items | $120.3M | $43.8M | $28.6M | $24.2M |
| Current operating lease liabilities | $40.1M | $11.3M | $10.3M | $10.6M |
| Current finance lease liabilities | $4.9M | $2.4M | $2.4M | $2.4M |
| Income taxes payable | $6.6M | $2.0M | $1.2M | $16.5M |
| Current maturities of long-term debt | $10.7M | $27.1M | $30.4M | $30.3M |
| Current liabilities of discontinued operations | $108.4M | — | — | — |
| Total current liabilities | $2.1B | $745.6M | $584.9M | $693.6M |
| Other liabilities | $83.3M | $57.3M | $51.7M | $48.8M |
| Long-term debt, net | $1.7B | $31.6M | $41.7M | $43.1M |
| Non-current operating lease liabilities | $338.8M | $82.4M | $78.5M | $80.9M |
| Non-current finance lease liabilities | $14.4M | $5.1M | $5.5M | $6.0M |
| Line item | May 31, 2026 · FY | May 31, 2025 · FY | May 31, 2024 · FY |
|---|---|---|---|
| Net earnings (loss) | ($12.9M) | $119.3M | $170.1M |
| Depreciation and amortization | $84.2M | $66.0M | $65.3M |
| Impairment of goodwill, long-lived assets, and other assets | $114.3M | $7.4M | $1.4M |
| Provision for (benefit from) deferred income taxes | ($10.4M) | ($3.1M) | $1.1M |
| Bad debt expense | $800.0K | $1.8M | $1.1M |
| Equity in net income of unconsolidated affiliate, net of distributions | $3.2M | $8.4M | ($20.4M) |
| Net (gain) loss on sale of assets | ($4.7M) | ($700.0K) | $1.0M |
| Stock-based compensation | $13.9M | $11.0M | $10.3M |
| Unrealized gain on equity securities | ($16.0M) | — | — |
| Receivables | ($16.3M) | $34.1M | ($1.4M) |
| Inventories | $47.2M | ($16.7M) | $16.4M |
| Accounts payable | ($17.4M) | $15.8M | ($26.7M) |
| Accrued compensation and employee benefits | $5.4M | ($9.8M) | $7.9M |
| Other operating items, net | $9.9M | ($3.2M) | ($26.6M) |
| Net cash provided by operating activities | $201.2M | $230.3M | $199.5M |
| Investment in property, plant and equipment | ($121.2M) | ($130.4M) | ($103.4M) |
| Acquisitions, net of cash acquired | ($2.9M) | $0 | ($21.0M) |
| Proceeds from sale of assets, net of selling costs | $16.6M | $1.3M | $1.2M |
| Purchases of equity securities | ($106.2M) | — | $0 |
| Other investing activities | $300.0K | — | — |
| Net cash used in investing activities | ($213.4M) | ($129.1M) | ($123.2M) |
| Distribution to the Former Parent in connection with the Separation | $0 | $0 | ($150.0M) |
| Transfers to the Former Parent, net | $0 | $0 | — |
| Proceeds from short-term borrowings, net | $25.0M | $15.0M | $127.2M |
| Proceeds from revolving credit facility borrowings - swing loans | $1.6B | $508.7M | $266.1M |
| Repayment of revolving credit facility borrowings - swing loans | ($1.6B) | ($522.5M) | ($248.1M) |
| Proceeds from long-term debt, net of issuance costs | $38.1M | $2.3M | — |
| Principal payments on long-term debt | ($22.4M) | $0 | $0 |
| Payments of tax withholdings, net of proceeds from issuance of common shares | -5.9M | — | — |
| Payments to noncontrolling interests | ($6.0M) | ($17.0M) | ($8.8M) |
| Dividends paid | ($32.6M) | ($31.9M) | ($7.9M) |
| Payments of debt issuance costs | ($4.4M) | — | — |
| Net cash provided by (used in) financing activities | $3.0M | ($48.5M) | ($68.8M) |
| Effects of exchange rate changes on cash, cash equivalents, and restricted cash | $900.0K | — | — |
| Increase (decrease) in cash, cash equivalents and restricted cash | ($8.3M) | $52.7M | $7.5M |
| Cash, cash equivalents, and restricted cash at beginning of year | $92.9M | $40.2M | $32.7M |
| Cash, cash equivalents, and restricted cash at end of year | $84.6M | $92.9M | — |
| Line item | Aug 31, 2026 · Q1 | Feb 28, 2026 · YTD | Nov 30, 2025 · YTD | Aug 31, 2025 · Q1 |
|---|---|---|---|---|
| Net earnings (loss) | ($5.0M) | $70.9M | $60.1M | $38.6M |
| Loss from discontinued operations, net | $4.9M | — | — | — |
| Depreciation and amortization | $27.8M | $63.6M | $42.0M | $20.3M |
| Benefit from deferred income taxes | ($4.4M) | ($7.9M) | ($900.0K) | ($1.4M) |
| Bad debt expense (income) | $200.0K | $600.0K | $200.0K | ($100.0K) |
| Equity in net income of unconsolidated affiliate, net of distributions | $16.7M | $6.8M | ($7.2M) | ($6.4M) |
| Net gain on sale of assets | ($4.7M) | ($5.3M) | ($700.0K) | ($800.0K) |
| Stock-based compensation | $2.3M | $11.8M | $11.4M | $7.4M |
| Realized loss on equity investment | $15.5M | — | — | — |
| Noncash restructuring and other expense | $1.0M | — | — | — |
| Receivables | ($42.4M) | $24.6M | $34.8M | ($15.9M) |
| Inventories | ($42.9M) | $28.5M | $49.6M | ($16.4M) |
| Accounts payable | $30.7M | ($33.2M) | ($93.6M) | ($46.7M) |
| Accrued compensation and employee benefits | ($8.5M) | $700.0K | ($1.6M) | ($200.0K) |
| Other operating items, net | $2.8M | ($6.9M) | ($1.7M) | $15.3M |
| Net cash used in operating activities | ($6.0M) | — | — | — |
| Investment in property, plant and equipment | ($63.0M) | ($84.1M) | ($54.1M) | ($29.4M) |
| Acquisitions, net of cash acquired | ($545.2M) | ($1.6M) | ($1.6M) | ($1.6M) |
| Proceeds from sale of assets, net of selling costs | $20.1M | $16.6M | $1.4M | $1.4M |
| Other investing activities | $1.3M | $400.0K | — | — |
| Net cash used in investing activities | ($586.8M) | ($170.1M) | ($54.3M) | ($29.6M) |
| Proceeds from (repayments of) short-term borrowings, net | ($170.0M) | $35.0M | — | $15.0M |
| Proceeds from revolving credit facility borrowings - swing loans | $336.7M | $1.2B | $845.2M | $437.4M |
| Repayments of revolving credit facility borrowings - swing loans | ($286.0M) | ($1.2B) | ($849.4M) | ($441.6M) |
| Proceeds from long-term debt, net of issuance costs | $1.6B | $23.4M | $23.8M | $22.6M |
| Principal payments on long-term debt | ($642.1M) | ($23.0M) | ($5.2M) | ($2.7M) |
| Payments of tax withholdings, net of proceeds from issuance of common shares | -2.7M | -6.0M | — | — |
| Payments to noncontrolling interests | ($10.5M) | $0 | $0 | $0 |
| Dividends paid | ($8.2M) | ($24.6M) | ($16.5M) | ($8.1M) |
| Purchase of noncontrolling interest in Kloeckner | ($15.9M) | — | — | — |
| Payments of debt issuance costs | ($34.4M) | $2.3M | — | — |
| Net cash provided by financing activities | $735.6M | $11.0M | ($41.9M) | $21.0M |
| Net cash provided by operating activities of discontinued operations | $15.5M | — | — | — |
| Net cash provided by investing activities of discontinued operations | $5.9M | — | — | — |
| Net cash provided by discontinued operations | $21.4M | — | — | — |
| Effects of exchange rate changes on cash, cash equivalents, and restricted cash | ($600.0K) | ($100.0K) | $100.0K | $300.0K |
| Increase (decrease) in cash, cash equivalents and restricted cash | $163.6M | ($2.9M) | ($3.1M) | ($14.6M) |
| Cash, cash equivalents, and restricted cash at beginning of period | $84.6M | $92.9M | $92.9M | $92.9M |
| Cash, cash equivalents, and restricted cash at end of period | $248.2M | $90.0M | $89.8M | $78.3M |
Worthington Steel Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.