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Makes pressure cylinders, propane tanks and tools (Bernzomatic) after spinning off its steel processing business.
Makes pressure cylinders, propane tanks and tools (Bernzomatic) after spinning off its steel processing business.
A large part of profit comes from an equal joint venture with Armstrong that makes suspended-ceiling grid systems for commercial buildings, booked as equity income rather than sales. The consumer and cylinder lines sell to home-improvement chains and gas distributors, so retailer orders and weather affect them.
Moat: narrow (brand, scale, distribution). Established brands and manufacturing scale in niche pressure-cylinder and torch categories.
Headquarters: Columbus, Ohio, United States · Founded: 1955 · Employees: 3,800
Size Worthington Enterprises (WOR) is a United States Industrials company (Industrial Machinery) with a market value of $2.98B, the 1561st largest of 3,117 United States companies the cockpit tracks. Shares closed at $60.50 on 6 Nov 2026.
Performance Over six months the shares gained 11.1%, against -17.4% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 18.4% over the last twelve months (peer median +14.8%); the operating margin is 5.9% (peer median 10.0%).
Valuation It trades at 15.7× forward earnings against a peer median of 25.8× (4th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is -15%, so the hurdle is +40 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.0 points below its cost of capital (11.0% WACC).
Credit Worthington Enterprises has 1 bond outstanding ($200M), rated BBB- by the agencies and trading like BB at a weighted spread of 172 bp.
Short interest Short interest is 2.3% of the free float (15 Oct 2026).
Next results Next results expected around 22 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.42B | $1.38B | $1.15B | $1.25B | $1.42B |
| Revenue growth | — | +20% | -7% | -12% | — |
| Gross profit | $386M | $377M | $318M | $286M | $339M |
| EBITDA | $144M | $139M | $98.1M | $83.2M | $165M |
| Net income | $164M | $156M | $96.1M | $111M | $257M |
| Free cash flow | $196M | $170M | $159M | $208M | $539M |
| Capital expenditure | $55.5M | $55.9M | $50.6M | $83.5M | $86.4M |
| Total debt | $348M | $350M | $326M | $317M | $715M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Worthington Enterprises WOR | $2.98B | +11% | +18% | 6% | 15.7× | 24.7% |
| Stanley Black & Decker SWK | $17.3B | +43% | 0% | 10% | 18.3× | 6.8% |
| Luxfer LXFR | $463M | +11% | -9% | 10% | 16.6× | 9.1% |
| Hexagon Composites HEX.OL | $423M | +26% | -39% | -7% | n/a | 34.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WOR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.2% | -13.7% | 6th highest of 21 |
| 6-month return | +11.1% | -17.4% | 3rd highest of 21 |
| Distance from 52-week high | -10.4% | -42.8% | highest of 21 |
| Revenue growth (TTM) | +18.4% | +14.8% | 9th highest of 21 |
| Operating margin | 5.9% | 10.0% | 5th lowest of 21 |
| Forward P/E | 15.7× | 25.8× | 4th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 24.7% | 20.4% | 4th most demanding of 14 |
| Growth delivered (Del g) | -15.3% | +11.4% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | +40.1 pp | +9.1 pp | most demanding of 14 |
| ROIC minus cost of capital | -6.0 pp | +0.4 pp | 3rd lowest of 21 |
| EV / EBITDA | 22.7× | 19.4× | 3rd most expensive of 10 |
| Net debt / EBITDA | 2.0× | -0.7× | 2nd most indebted of 10 |
| Bond spread | 172 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Worthington Enterprises WOR | United States | $2.98B | +11% | +18% | 6% | 15.7× | 24.7% | -15.3% |
| China First Heavy Industries 601106.SS | China | $2.98B | -36% | 0% | 0% | n/a | n/a | n/a |
| Catcher Technology 2474.TW | Taiwan | $2.99B | -14% | -18% | 10% | 16.3× | 12.4% | -25.7% |
| Bozhon Precision Industry Technology 688097.SS | China | $3.00B | -23% | +74% | 7% | 23.6× | n/a | n/a |
| Formosa Sumco Technology 3532.TW | Taiwan | $3.01B | +12% | +9% | 4% | 50.5× | n/a | n/a |
| AIA Engineering AIAENG.NS | India | $3.08B | -22% | +7% | 24% | 22.8× | 20.4% | +9.1% |
| Jack Technology 603337.SS | China | $3.09B | +15% | +13% | 10% | 22.8× | 4.2% | +13.3% |
| Fuji 6134.T | Japan | $2.85B | -23% | +45% | 20% | 9.9× | n/a | n/a |
| SIASUN Robot & Automation 300024.SZ | China | $3.12B | -11% | +11% | -7% | 235.7× | n/a | n/a |
| Takasago Thermal Engineering 1969.T | Japan | $3.13B | -21% | +2% | 11% | 10.8× | 3.8% | +9.0% |
| Infore Environment Technology 000967.SZ | China | $3.14B | -53% | +20% | 8% | 26.5× | -0.8% | -0.7% |
| Shenzhen Zhaowei Machinery & Electronics 2692.HK | Hong Kong | $3.16B | -52% | +5% | 9% | 34.8× | 33.0% | +6.8% |
| Tokyo Seimitsu 7729.T | Japan | $3.16B | -29% | +17% | 22% | 15.2× | 16.0% | +11.4% |
| Nabtesco 6268.T | Japan | $2.77B | -28% | -8% | 9% | 17.6× | 7.8% | +2.0% |
| Carel Industries CRL.MI | Italy | $3.24B | -11% | +17% | 15% | 30.5× | 23.3% | +13.7% |
| Beijing Jingyi Automation Equipment 688652.SS | China | $2.73B | -10% | +34% | 9% | 77.6× | 49.0% | +32.4% |
| Guangzhou Haozhi Industrial 300503.SZ | China | $2.70B | -8% | +55% | 20% | n/a | n/a | n/a |
| SINOMACH Heavy Equipment 601399.SS | China | $3.33B | -28% | 0% | 4% | n/a | n/a | n/a |
| Kaori Heat Treatment 8996.TW | Taiwan | $3.34B | -1% | +108% | 16% | 42.6× | 46.0% | +25.9% |
| Moon Environment Technology 000811.SZ | China | $3.34B | -10% | +27% | 10% | 25.8× | 20.9% | +11.8% |
| Dongguan Yiheda Automation 301029.SZ | China | $2.65B | -2% | +31% | 18% | 27.1× | 21.6% | +19.5% |
Worthington Enterprises has 1 bond outstanding with $200M face value. The agencies rate it BBB-; its bonds trade like BB. Weighted yield 6.44%, a spread of 172 bp over government bonds.