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Worthington Industries

NYSE:WOR
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WOR
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Materials
Company description

Worthington Industries, Inc., a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The last earnings update was 56 days ago. More info.


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WOR Share Price and Events
7 Day Returns
-2.1%
NYSE:WOR
0%
US Metals and Mining
-1.4%
US Market
1 Year Returns
-3.7%
NYSE:WOR
8%
US Metals and Mining
14.5%
US Market
WOR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Worthington Industries (WOR) -2.1% -2.1% 7.4% -3.7% -35.4% 3.9%
US Metals and Mining 0% 0.1% 7.8% 8% -7% 11.7%
US Market -1.4% 1.3% 4.6% 14.5% 35.7% 48.6%
1 Year Return vs Industry and Market
  • WOR underperformed the Metals and Mining industry which returned 8% over the past year.
  • WOR underperformed the Market in United States of America which returned 14.5% over the past year.
Price Volatility
WOR
Industry
5yr Volatility vs Market

WOR Value

 Is Worthington Industries undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Worthington Industries to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Worthington Industries.

NYSE:WOR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:WOR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.16
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.156 (1 + (1- 21%) (35.05%))
1.319
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.319 * 5.44%)
8.92%

Discounted Cash Flow Calculation for NYSE:WOR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Worthington Industries is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:WOR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.92%)
2020 211.70 Analyst x3 194.37
2021 196.00 Analyst x2 165.22
2022 218.00 Analyst x1 168.72
2023 222.00 Analyst x1 157.75
2024 227.00 Analyst x1 148.10
2025 231.43 Est @ 1.95% 138.63
2026 235.81 Est @ 1.89% 129.68
2027 240.16 Est @ 1.84% 121.26
2028 244.51 Est @ 1.81% 113.35
2029 248.89 Est @ 1.79% 105.93
Present value of next 10 years cash flows $1,443.00
NYSE:WOR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $248.89 × (1 + 1.74%) ÷ (8.92% – 1.74%)
$3,528.04
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,528.04 ÷ (1 + 8.92%)10
$1,501.63
NYSE:WOR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,443.00 + $1,501.63
$2,944.63
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,944.63 / 55.92
$52.65
NYSE:WOR Discount to Share Price
Calculation Result
Value per share (USD) From above. $52.65
Current discount Discount to share price of $38.04
= -1 x ($38.04 - $52.65) / $52.65
27.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Worthington Industries is available for.
Intrinsic value
28%
Share price is $38.04 vs Future cash flow value of $52.65
Current Discount Checks
For Worthington Industries to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Worthington Industries's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Worthington Industries's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Worthington Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Worthington Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:WOR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-08-31) in USD $1.66
NYSE:WOR Share Price ** NYSE (2019-12-05) in USD $38.04
United States of America Metals and Mining Industry PE Ratio Median Figure of 39 Publicly-Listed Metals and Mining Companies 11.95x
United States of America Market PE Ratio Median Figure of 2,924 Publicly-Listed Companies 18.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Worthington Industries.

NYSE:WOR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:WOR Share Price ÷ EPS (both in USD)

= 38.04 ÷ 1.66

22.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Worthington Industries is overvalued based on earnings compared to the US Metals and Mining industry average.
  • Worthington Industries is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Worthington Industries's expected growth come at a high price?
Raw Data
NYSE:WOR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
26.1%per year
United States of America Metals and Mining Industry PEG Ratio Median Figure of 24 Publicly-Listed Metals and Mining Companies 0.85x
United States of America Market PEG Ratio Median Figure of 2,045 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

NYSE:WOR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.86x ÷ 26.1%

0.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Worthington Industries is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Worthington Industries's assets?
Raw Data
NYSE:WOR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-08-31) in USD $14.36
NYSE:WOR Share Price * NYSE (2019-12-05) in USD $38.04
United States of America Metals and Mining Industry PB Ratio Median Figure of 107 Publicly-Listed Metals and Mining Companies 1.53x
United States of America Market PB Ratio Median Figure of 5,086 Publicly-Listed Companies 1.77x
NYSE:WOR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:WOR Share Price ÷ Book Value per Share (both in USD)

= 38.04 ÷ 14.36

2.65x

* Primary Listing of Worthington Industries.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Worthington Industries is overvalued based on assets compared to the US Metals and Mining industry average.
X
Value checks
We assess Worthington Industries's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Worthington Industries has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

WOR Future Performance

 How is Worthington Industries expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
26.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Worthington Industries expected to grow at an attractive rate?
  • Worthington Industries's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Worthington Industries's earnings growth is expected to exceed the United States of America market average.
  • Worthington Industries's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:WOR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:WOR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 26.1%
NYSE:WOR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 1.2%
United States of America Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 13.2%
United States of America Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:WOR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:WOR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-05-31 3,622 1
2023-05-31 3,547 1
2022-05-31 3,490 263 175 2
2021-05-31 3,359 251 167 3
2020-05-31 3,331 255 108 3
2019-12-05
NYSE:WOR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-08-31 3,627 232 94
2019-05-31 3,760 198 153
2019-02-28 3,841 206 146
2018-11-30 3,808 254 199
2018-08-31 3,721 228 204
2018-05-31 3,582 281 195
2018-02-28 3,407 283 221
2017-11-30 3,268 286 177
2017-08-31 3,125 298 184
2017-05-31 3,014 336 205
2017-02-28 2,883 372 207
2016-11-30 2,827 376 201

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Worthington Industries's earnings are expected to grow significantly at over 20% yearly.
  • Worthington Industries's revenue is expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:WOR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Worthington Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:WOR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-05-31
2023-05-31
2022-05-31 3.17 3.17 3.17 1.00
2021-05-31 3.02 3.13 2.91 2.00
2020-05-31 1.96 1.97 1.94 2.00
2019-12-05
NYSE:WOR Past Financials Data
Date (Data in USD Millions) EPS *
2019-08-31 1.66
2019-05-31 2.68
2019-02-28 2.52
2018-11-30 3.37
2018-08-31 3.40
2018-05-31 3.20
2018-02-28 3.57
2017-11-30 2.84
2017-08-31 2.95
2017-05-31 3.28
2017-02-28 3.33
2016-11-30 3.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Worthington Industries is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Worthington Industries's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Worthington Industries has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

WOR Past Performance

  How has Worthington Industries performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Worthington Industries's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Worthington Industries's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Worthington Industries's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Worthington Industries's 1-year earnings growth is negative, it can't be compared to the US Metals and Mining industry average.
Earnings and Revenue History
Worthington Industries's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Worthington Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:WOR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-08-31 3,627.31 93.74 338.57
2019-05-31 3,759.56 153.46 338.39
2019-02-28 3,841.17 146.49 356.02
2018-11-30 3,808.45 198.80 365.10
2018-08-31 3,721.49 204.20 369.85
2018-05-31 3,581.62 194.79 367.46
2018-02-28 3,406.50 220.52 345.52
2017-11-30 3,268.28 177.32 336.50
2017-08-31 3,124.80 184.48 323.57
2017-05-31 3,014.11 204.52 316.37
2017-02-28 2,883.44 206.55 311.40
2016-11-30 2,827.08 200.50 306.27
2016-08-31 2,799.12 177.31 302.51
2016-05-31 2,819.71 143.72 297.40
2016-02-29 2,951.07 114.06 294.68
2015-11-30 3,108.77 58.50 291.29
2015-08-31 3,279.97 64.59 295.88
2015-05-31 3,384.23 76.79 295.92
2015-02-28 3,429.22 81.08 294.54
2014-11-30 3,397.66 147.40 303.46
2014-08-31 3,296.55 140.91 304.54
2014-05-31 3,126.43 151.30 304.40
2014-02-28 2,939.48 151.66 296.20
2013-11-30 2,785.78 148.19 283.74
2013-08-31 2,638.50 157.04 270.44
2013-05-31 2,612.24 136.44 258.32
2013-02-28 2,663.59 155.00 249.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Worthington Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Worthington Industries used its assets less efficiently than the US Metals and Mining industry average last year based on Return on Assets.
  • Worthington Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Worthington Industries's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Worthington Industries has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

WOR Health

 How is Worthington Industries's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Worthington Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Worthington Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Worthington Industries's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Worthington Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Worthington Industries Company Filings, last reported 3 months ago.

NYSE:WOR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-08-31 907.44 699.23 45.58
2019-05-31 948.39 749.30 92.36
2019-02-28 977.01 749.49 113.12
2018-11-30 986.26 749.78 93.03
2018-08-31 1,037.37 750.06 96.84
2018-05-31 1,036.38 750.37 121.97
2018-02-28 1,073.99 782.27 147.42
2017-11-30 1,042.78 780.68 122.21
2017-08-31 1,082.73 780.73 195.86
2017-05-31 1,073.93 578.77 278.08
2017-02-28 1,022.05 577.28 227.28
2016-11-30 1,010.76 577.60 175.18
2016-08-31 981.08 580.13 181.53
2016-05-31 919.85 581.31 84.19
2016-02-29 813.81 611.47 25.43
2015-11-30 803.77 629.64 27.35
2015-08-31 838.89 603.87 18.77
2015-05-31 840.05 670.94 31.07
2015-02-28 851.67 700.10 42.47
2014-11-30 971.01 685.83 96.54
2014-08-31 958.73 668.74 146.92
2014-05-31 944.88 670.51 190.08
2014-02-28 957.91 441.84 52.89
2013-11-30 981.39 452.30 109.06
2013-08-31 970.39 471.15 121.05
2013-05-31 872.24 524.92 51.39
2013-02-28 860.80 444.06 37.36
  • Worthington Industries's level of debt (77.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (69.8% vs 77.1% today).
  • Debt is well covered by operating cash flow (33.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.1x coverage).
X
Financial health checks
We assess Worthington Industries's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Worthington Industries has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

WOR Dividends

 What is Worthington Industries's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.52%
Current annual income from Worthington Industries dividends. Estimated to be 2.6% next year.
If you bought $2,000 of Worthington Industries shares you are expected to receive $50 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Worthington Industries's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Worthington Industries's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Upcoming dividend payment

Purchase Worthington Industries before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:WOR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1958 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:WOR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-05-31 1.06 1.00
2023-05-31 1.03 1.00
2022-05-31 1.01 2.00
2021-05-31 0.97 3.00
2020-05-31 0.96 3.00
2019-12-05
NYSE:WOR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-09-25 0.960 2.618
2019-06-26 0.960 2.551
2019-03-20 0.920 2.439
2018-12-18 0.920 2.495
2018-09-26 0.920 2.235
2018-06-27 0.920 2.020
2018-03-28 0.840 1.837
2017-12-19 0.840 1.852
2017-09-27 0.840 1.942
2017-06-28 0.840 1.664
2017-03-29 0.800 1.841
2016-12-20 0.800 1.635
2016-12-19 0.800 1.495
2016-06-29 0.800 1.709
2016-03-23 0.760 2.044
2016-03-22 0.760 2.129
2015-09-23 0.760 2.550
2015-06-24 0.760 2.859
2015-03-25 0.720 2.628
2014-12-17 0.720 2.550
2014-09-24 0.720 1.958
2014-06-25 0.720 1.770
2014-03-26 0.600 1.541
2013-12-18 0.600 1.474
2013-09-25 0.600 1.520
2013-06-26 0.600 1.735
2012-12-10 0.520 1.753
2012-09-27 0.520 2.355
2012-06-27 0.520 2.360
2012-03-28 0.480 2.758
2011-12-14 0.480 2.699
2011-10-03 0.480 2.928
2011-06-29 0.480 2.767
2011-05-27 0.400 1.986
2011-02-28 0.400 1.978
2010-11-29 0.400 2.143
2010-08-30 0.400 2.594
2010-06-01 0.400 2.886
2010-02-25 0.400 2.498
2009-11-23 0.400 2.877
2009-08-27 0.400 3.037
2009-05-28 0.400 3.027
2009-03-02 0.680 6.242
2008-12-18 0.680 6.594

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Worthington Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4x coverage).
X
Income/ dividend checks
We assess Worthington Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Worthington Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Worthington Industries has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

WOR Management

 What is the CEO of Worthington Industries's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
John McConnell
COMPENSATION $3,738,833
AGE 65
TENURE AS CEO 26.5 years
CEO Bio

Mr. John P. McConnell has been the Chairman of the Board of Worthington Industries, Inc. since September 1996 and Chief Executive Officer since June 1993 at Worthington Cylinder Corporation. Mr. McConnell is the Owner and Governor of Colhoc Limited Partnership. He served in various positions with Worthington Industries from 1975 to June 1993. He has been a Director at Worthington Industries, Inc., since 1990. He serves as Vice Chairman and has been a director of OhioHealth since 2014. He serves as Chairman of JMAC Inc. Mr. McConnell has solid public company and overall management and operations experience as Chief Executive Officer and Chairman of the Board. In addition, in his more than 40 years of service to Worthington, Mr. McConnell has served in various roles with it spanning not only executive management, but prior to that, time in production, sales, human resources and management at plant, business unit and corporate levels. He served as a Director of Alltel Corporation from 1990 to November 16, 2007. Mr. McConnell served as a Member of Association Board of Columbus Zoo and Aquarium.

CEO Compensation
  • John's compensation has been consistent with company performance over the past year, both up more than 20%.
  • John's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Worthington Industries management team in years:

1.3
Average Tenure
60
Average Age
  • The average tenure for the Worthington Industries management team is less than 2 years, this suggests a new team.
Management Team

John McConnell

TITLE
Chairman of the Board & CEO
COMPENSATION
$4M
AGE
65
TENURE
26.5 yrs

Andy Rose

TITLE
President
COMPENSATION
$6M
AGE
49
TENURE
1.3 yrs

Joe Hayek

TITLE
VP & CFO
COMPENSATION
$1M
AGE
47
TENURE
1.1 yrs

Geoff Gilmore

TITLE
Executive VP
COMPENSATION
$5M
AGE
47
TENURE
1.3 yrs

Dale Brinkman

TITLE
Senior VP of Administration
COMPENSATION
$1M
AGE
66
TENURE
21 yrs

Virgil Winland

TITLE
Senior Vice President of Manufacturing
COMPENSATION
$1M
AGE
71
TENURE
18.9 yrs

Matt Schlabig

TITLE
Chief Information Officer
TENURE
4.6 yrs

Marcus Rogier

TITLE
Investor Relations Officer & Treasurer
TENURE
1.3 yrs

Sonya Higginbotham

TITLE
Vice President of Corporate Communications & Brand Management
TENURE
1.3 yrs

Cathy Lyttle

TITLE
Senior VP & Chief Human Resources Officer
AGE
60
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Worthington Industries board of directors in years:

17.5
Average Tenure
66.5
Average Age
  • The average tenure for the Worthington Industries board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

John McConnell

TITLE
Chairman of the Board & CEO
COMPENSATION
$4M
AGE
65
TENURE
23.3 yrs

John Blystone

TITLE
Lead Independent Director
COMPENSATION
$294K
AGE
65
TENURE
12.9 yrs

Peter Karmanos

TITLE
Independent Director
COMPENSATION
$210K
AGE
76
TENURE
22.9 yrs

Carl Nelson

TITLE
Independent Director
COMPENSATION
$215K
AGE
73
TENURE
15.1 yrs

Mike Endres

TITLE
Independent Director
COMPENSATION
$200K
AGE
71
TENURE
20.9 yrs

Mary Schiavo

TITLE
Independent Director
COMPENSATION
$200K
AGE
63
TENURE
21.9 yrs

Sidney Ribeau

TITLE
Independent Director
COMPENSATION
$200K
AGE
72
TENURE
19.9 yrs

Kerrii Anderson

TITLE
Independent Director
COMPENSATION
$200K
AGE
62
TENURE
9.3 yrs

Mark Davis

TITLE
Independent Director
COMPENSATION
$200K
AGE
59
TENURE
8.8 yrs

Ozey Horton

TITLE
Independent Director
COMPENSATION
$200K
AGE
68
TENURE
8.5 yrs
Who owns this company?
Recent Insider Trading
  • Worthington Industries individual insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
06. Nov 19 Sell Jeffrey Klingler Individual 06. Nov 19 06. Nov 19 -961 $38.46 $-36,960
02. Jul 19 Buy John Blystone Individual 28. Jun 19 02. Jul 19 25,000 $40.00 $997,068
20. Dec 18 Buy John Blystone Individual 19. Dec 18 19. Dec 18 25,000 $36.67 $916,750
X
Management checks
We assess Worthington Industries's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Worthington Industries has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

WOR News

Simply Wall St News

Should We Worry About Worthington Industries, Inc.'s (NYSE:WOR) P/E Ratio?

Worthington Industries has a price to earnings ratio of 12.93, based on the last twelve months. … See our latest analysis for Worthington Industries How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Worthington Industries: P/E of 12.93 = $34.7 ÷ $2.68 (Based on the trailing twelve months to May 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

How Good Is Worthington Industries, Inc. (NYSE:WOR) At Creating Shareholder Value?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Worthington Industries: 0.078 = US$142m ÷ (US$2.5b - US$698m) (Based on the trailing twelve months to May 2019.) So, Worthington Industries has an ROCE of 7.8%. … See our latest analysis for Worthington Industries Is Worthington Industries's ROCE Good? … What Are Current Liabilities, And How Do They Affect Worthington Industries's ROCE?

Simply Wall St -

Did Changing Sentiment Drive Worthington Industries's (NYSE:WOR) Share Price Down By 13%?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. … As it happens, Worthington Industries's TSR for the last year was -11%, which exceeds the share price return mentioned earlier. … A Different Perspective Investors in Worthington Industries had a tough year, with a total loss of 11% (including dividends), against a market gain of about 6.0%.

Simply Wall St -

What Kind Of Investor Owns Most Of Worthington Industries, Inc. (NYSE:WOR)?

As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' Worthington Industries has a market capitalization of US$2.2b, so we would expect some institutional investors to have noticed the stock. … Check out our latest analysis for Worthington Industries NYSE:WOR Ownership Summary, July 20th 2019 What Does The Institutional Ownership Tell Us About Worthington Industries? … We can see that Worthington Industries does have institutional investors; and they hold 52% of the stock.

Simply Wall St -

Is Worthington Industries, Inc.'s (NYSE:WOR) CEO Being Overpaid?

Check out our latest analysis for Worthington Industries How Does John McConnell's Compensation Compare With Similar Sized Companies? … Given the total loss of 8.0% over three years, many shareholders in Worthington Industries, Inc. … CEO compensation is one thing, but it is also interesting to check if the CEO is buying or selling Worthington Industries (free visualization of insider trades).

Simply Wall St -

Is Worthington Industries (NYSE:WOR) A Risky Investment?

NYSE:WOR Historical Debt, July 1st 2019 A Look At Worthington Industries's Liabilities We can see from the most recent balance sheet that Worthington Industries had liabilities of US$698.0m falling due within a year, and liabilities of US$864.4m due beyond that. … Because it carries more debt than cash, we think it's worth watching Worthington Industries's balance sheet over time. … But it is future earnings, more than anything, that will determine Worthington Industries's ability to maintain a healthy balance sheet going forward.

Simply Wall St -

Need To Know: Worthington Industries, Inc. (NYSE:WOR) Insiders Have Been Selling Shares

So we'll take a look at whether insiders have been buying or selling shares in Worthington Industries, Inc. … View our latest analysis for Worthington Industries Worthington Industries Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the Chairman of the Board &amp; CEO, John McConnell, sold US$4.6m worth of shares at a price of US$46.00 per share. … It's great to see high levels of insider ownership, but looking back at the last year, we don't gain confidence from the Worthington Industries insiders selling.

Simply Wall St -

Is Worthington Industries, Inc.'s (NYSE:WOR) Balance Sheet A Threat To Its Future?

View our latest analysis for Worthington Industries WOR’s Debt (And Cash Flows) WOR has sustained its debt level by about US$749m over the last 12 months which accounts for long term debt. … Additionally, WOR has generated US$206m in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 27%, signalling that WOR’s debt is appropriately covered by operating cash. … At the current liabilities level of US$565m, it seems that the business has been able to meet these commitments with a current assets level of US$1.2b, leading to a 2.13x current account ratio.

Simply Wall St -

Should We Be Delighted With Worthington Industries, Inc.'s (NYSE:WOR) ROE Of 16%?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Worthington Industries: 16% = US$146m ÷ US$977m (Based on the trailing twelve months to February 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Worthington Industries Have A Good Return On Equity? … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

What Does Worthington Industries, Inc.'s (NYSE:WOR) Balance Sheet Tell Us About It?

WOR’s Debt (And Cash Flows) Over the past year, WOR has maintained its debt levels at around US$749m including long-term debt. … Moreover, WOR has generated cash from operations of US$206m in the last twelve months, resulting in an operating cash to total debt ratio of 27%, signalling that WOR’s operating cash is sufficient to cover its debt. … Next Steps: WOR’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

WOR Company Info

Description

Worthington Industries, Inc., a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. It operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs. The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, heavy-truck, HVAC, lawn and garden, leisure and recreation, office furniture, and office equipment markets. It also toll processes steel for steel mills, large end-users, service centers, and other processors. The Pressure Cylinders segment manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, well water and expansion tanks, and oil and gas equipment, as well as various accessories and related products for end-use market applications, including industrial products, consumer products, and oil and gas equipment. The Engineered Cabs segment designs and manufactures custom-engineered open and enclosed cabs, as well as operator stations and custom fabrications for heavy mobile equipment used in the agricultural, construction, forestry, military, and mining industries; and machined structural components, complex and painted weldments, and engine doors. It also designs and manufactures reusable custom steel platforms, racks, and pallets for supporting, protecting, and handling products in the shipping process. The company was founded in 1955 and is headquartered in Columbus, Ohio.

Details
Name: Worthington Industries, Inc.
WOR
Exchange: NYSE
Founded: 1955
$2,108,887,327
55,923,822
Website: http://www.worthingtonindustries.com
Address: Worthington Industries, Inc.
200 Old Wilson Bridge Road,
Columbus,
Ohio, 43085,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE WOR Common Shares New York Stock Exchange US USD 14. Dec 1972
DB WTH Common Shares Deutsche Boerse AG DE EUR 14. Dec 1972
Number of employees
Current staff
Staff numbers
12,000
Worthington Industries employees.
Industry
Steel
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/05 23:43
End of day share price update: 2019/12/05 00:00
Last estimates confirmation: 2019/11/15
Last earnings filing: 2019/10/10
Last earnings reported: 2019/08/31
Last annual earnings reported: 2019/05/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.