WORWorthington Enterprises, Inc.
Is the business good?
A genuinely good business: 7 of 9 health tests passed and earnings fully cash-backed (3.9×).
High fundamental quality. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash.
Margins have held roughly steady, a stable cost structure.
A balanced mix of margins, efficiency, and leverage. ROE 12% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is WOR?
Worthington Enterprises, Inc. earns 4.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 4.4 points below what the capital costs: growth destroys value
- Operating margin
- 5.5%
Operating margin · Metal Fabrication median 7.6% · 12 months to Q4 2026
- Cash conversion
- 3.85×
Cash conversion · operating cash flow covers the operating profit after tax
- Gross margin
- 27%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | 5.3% |
| FY2022 | 3.7% |
| FY2023 | 2.1% |
| FY2024 | −5.9% |
| FY2025 | −0.93% |
| FY2026 | 5.5% |
Details›
- Gross margin12 months to Q4 2026
- 27%
- Operating margin12 months to Q4 2026
- 5.5%
- Net margin12 months to Q4 2026
- 11%
- Free cash flow margin
- 12%
- Revenue, trailing twelve months
- $1.38B
- Free cash flow, trailing twelve months
- $170M
- Net income, trailing twelve months
- $156M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.6%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.