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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#760
Positioning
Market Dominance
Manufacturing
Steel Works
$1.7B
Pending
Detailed business profile pending verification.
Headcount
—
HQ Base
COLUMBUS, Ohio
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Dates updated upon official exchange announcement.
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = WS ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$WS Worthington Steel, Inc. | 59 | 50 | 61 | 72 | 25.4x | 12.4x | 7.1% | 4.1% | 11.6% | 3.3% | 2.7% | 18.0% | 1.9% | 6.0x | $1.7B | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
Worthington Steel, Inc. (WS) receives a "Hold" rating with a composite score of 59.3/100. It ranks #760 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Executive Directory Unavailable for WS
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
50
28
70
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for WS
Outperforming peers — winners tend to keep winning over 3-12 months
Trading at a discount to fundamentals — favorable entry valuation
Average quality profile
Low volatility — smoother ride and historically better risk-adjusted returns
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for WS.
View All RatingsMaterial decline in asset turnover efficiency detected
ROE proxy 7.1% (sector -2.5%)
GM 12% vs sector 43%, OM 3% vs sector 1%
Capital turnover N/A
Rev growth 18%, 3yr history
Interest coverage 8.0x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our model assigns Worthington Steel, Inc. a Hold rating, with a composite score of 59.3/100 and 3 out of 5 stars. Ranked #760 of 7,333 stocks, WS presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
With a quality score of 50/100, WS shows adequate but unremarkable business quality. The company reports a return on equity of 7.1% (sector avg: -2.5%), gross margins of 11.6% (sector avg: 42.5%), net margins of 2.7% (sector avg: -0.2%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
WS's value score of 61/100 indicates the stock is fairly valued based on its current fundamentals. Key valuation metrics include a P/E ratio of 25.36x, an EV/EBITDA of 12.43x, a P/B ratio of 1.79x. At this level, neither a clear bargain nor overpriced, the stock's attractiveness depends more on forward growth expectations and qualitative factors.
Worthington Steel, Inc.'s investment score of 28/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 18.0% vs. a sector average of 5.9% and a return on assets of 4.1% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
WS shows strong momentum characteristics with a score of 72/100. The stock has been trending above key moving averages, indicating solid demand from institutional buyers. Revenue growth stands at 18.0% year-over-year, while a beta of 1.18 reflects its sensitivity to broader market moves. This level of momentum typically signals sustained investor confidence and favorable near-term price action.
WS shows good financial stability with a score of 70/100. Key stability metrics include a beta of 1.18 and a debt-to-equity ratio of 6.00x (sector avg: 0.2x). This suggests manageable leverage and moderate price volatility, making it appropriate for investors seeking a balance between growth potential and capital preservation.
WS carries a short interest score of 60/100, indicating moderate short selling activity. This is a neutral reading — not enough to signal systemic bearishness, but worth monitoring. Specific risk factors include elevated leverage (D/E: 6.00x), small-cap liquidity risk. At $1.7B market cap (small-cap), Worthington Steel, Inc. offers reasonable institutional liquidity.
WS offers a modest dividend yield of 1.9%. While the income contribution is relatively small, even a small dividend signals management's commitment to shareholder returns and can serve as a signal of financial discipline.
Worthington Steel, Inc. is a small-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #760 of 7,333 overall (90th percentile). Key comparisons include ROE of 7.1% exceeding the -2.5% sector median and operating margins of 3.3% above the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While WS currently exhibits a HOLD profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Manufacturing Alpha →Quant Factor Profile
Key factor gap
Momentum (72) vs Investment (28) — closing this gap could shift the rating.
EV/EBITDA 8% ABOVE SECTOR MEDIAN
ROE 385% BELOW SECTOR MEDIAN
Gross Margin 73% BELOW SECTOR MEDIAN
AUDIT DATA AS OF NOV 30, 2025 (Q3 FY2025)
We rate Worthington Steel, Inc. (WS) as a Hold with a composite score of 59.3/100 at a current price of $43.05. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling for existing holders. Our factors are split, and the overall profile suggests patience is warranted.
The rating is primarily driven by strength in momentum (72th percentile) and stability (70th percentile), which together account for the majority of the composite score. Offsetting weakness in investment (28th percentile) and quality (50th percentile) tempers our overall conviction. We assign a No Moat rating (36/100), Low uncertainty, and Standard capital allocation.
Key items to watch: quarterly earnings execution and sector-level competitive dynamics. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
Worthington Steel, Inc. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 59.3/100 places it at rank #760 in our full 7,333-stock universe. At $1.7B in market capitalization, Worthington Steel, Inc. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
The near-term outlook is constructive, with revenue growing at 18% and momentum in the 72th percentile confirming positive market sentiment and institutional accumulation. The combination of strong top-line growth and favorable price dynamics suggests the company is executing well on its growth strategy. Investment factor at the 28th percentile indicates reinvestment patterns that investors should monitor for sustainability.
The margin cascade tells an important story: gross margins of 12% (-30.9pp vs sector) narrow to operating margins of 3% (+2.0pp vs sector) and net margins of 2.7%, yielding a gross-to-net conversion rate of 23%. This conversion rate is typical for the sector, suggesting a standard cost structure without notable efficiency advantages or disadvantages.
At a current price of $43.05, Worthington Steel, Inc. is trading near fair value based on current fundamentals. Our value factor score of 61/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. Valuation metrics are mixed, with no strong signal of mispricing in either direction.
The stock currently trades at a P/E of 25.4x (roughly in line with the sector median of 22.3x), EV/EBITDA of 12.4x (near the sector median), P/B of 1.8x, P/S of 0.7x. The above-sector P/E multiple suggests the market is pricing in superior growth or quality, which our analysis finds only partially justified by current fundamentals.
Revenue growth of 18% confirms the business is expanding its addressable market — growth at this level typically supports multiple expansion and attracts institutional capital.
A conservative balance sheet (6% D/E) provides financial flexibility for acquisitions, buybacks, or weathering economic downturns without dilution.
Positive momentum (72th percentile) indicates institutional accumulation and favorable technical dynamics that tend to persist in the intermediate term.
Thin net margins of 2.7% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
We assign a Low uncertainty rating to Worthington Steel, Inc.. The company exhibits strong financial stability with a beta of 1.18, conservative leverage (6% D/E), and a stability factor in the 70th percentile. The predictable nature of the business model and solid financial position reduce the range of potential outcomes, giving us confidence in our fair value estimate.
We identify no major risk factors at this time. The company's stability factor sits at the 70th percentile with quality at the 50th percentile, both of which support our low-risk assessment. The absence of material leverage, profitability, or volatility concerns reduces the likelihood of a permanent capital loss scenario.
Key risk mitigants include: conservative leverage (6% D/E) limits balance sheet risk; above-average stability (70th percentile) suggests predictable business dynamics. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile is favorable for long-term investors.
We rate Worthington Steel, Inc.'s capital allocation as Standard. Management has shown adequate — though not exceptional — stewardship of shareholder capital. Returns on equity stand at 7.1%, and the balance sheet is managed within acceptable parameters (D/E: 6%). Exemplary allocators typically sustain ROE above 20% and D/E below 50%; Worthington Steel, Inc. falls short on at least one dimension.
There is room for improvement in optimizing the capital structure or enhancing shareholder returns. The 1.90% dividend yield provides some income return, but the overall capital allocation framework would benefit from either higher reinvestment returns, improved balance sheet efficiency, or increased shareholder distributions. We will monitor for signs of strategic improvement that could warrant an upgrade.
In summary, Worthington Steel, Inc. receives a Hold rating with a composite score of 59.3/100 (rank #760 of 7,333). Our quantitative framework assigns a No Moat (36/100, trend: stable), Low uncertainty, and Standard capital allocation. The average factor score across quality, value, momentum, stability, and investment is 56/100.
Our analysis supports a neutral stance on Worthington Steel, Inc.. While the quantitative profile is not weak enough to warrant selling, it lacks the multi-factor strength required for a buy recommendation. Existing holders should maintain positions and monitor for catalysts — either fundamental improvement or valuation compression — that would shift the risk-reward balance.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign Worthington Steel, Inc. a meaningful economic moat, scoring 36/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, financial resilience, reached only 15.5/20.
The strongest moat sources are financial resilience (15.5/20) and margin superiority (9.5/20). Interest coverage 8.0x. GM 12% vs sector 43%, OM 3% vs sector 1%. These pillars form the core of Worthington Steel, Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and growth durability (4.6/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect Worthington Steel, Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include robust top-line growth of 18% expanding the revenue base. The margin cascade from 12% gross to 3% operating to 2.7% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 50th percentile.
The margin profile shows gross margins of 12%, operating margins of 3%, net margins of 2.7%. Return metrics include ROE of 7.1% and ROA of 4.1%. Relative to the Manufacturing sector, gross margins are 30.9 percentage points below the sector median of 43%, and ROE of 7.1% compares to a sector median of -2.5%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 6%, a dividend yield of 1.90%, revenue growth of 18%. The sector median D/E is 0%, putting Worthington Steel, Inc. at higher leverage than the typical peer. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
Meros Investment Management fully exited its position in Worthington Steel in Q3, selling shares worth $5.3 million. Despite the sell-off, the company shows improving fundamentals with recent revenue growth and stable earnings.
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