Worthington Industries
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 24 days ago. More info.
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WOR Share Price and Events
7 Day Returns
1 Year Returns
WOR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Worthington Industries (WOR) | 2.1% | 3.6% | -1.8% | -14.1% | -9.9% | -2.8% |
| US Metals and Mining | 2.5% | 4.1% | 0.6% | -13.4% | 4.4% | -16.7% |
| US Market | -1.2% | 1.2% | 1.7% | 3.4% | 35.5% | 41.6% |
1 Year Return vs Industry and Market
- WOR matched the Metals and Mining industry (-13.4%) over the past year.
- WOR underperformed the Market in United States of America which returned 3.4% over the past year.
WOR Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Worthington Industries.
| 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 | 10.1% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.06 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.062 (1 + (1- 21%) (34.06%)) |
1.233 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.23 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.233 * 5.96%) |
10.08% |
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.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 10.08%) |
|
|---|---|---|---|
| 2020 | 261.50 | Analyst x2 | 237.55 |
| 2021 | 217.00 | Analyst x1 | 179.08 |
| 2022 | 240.00 | Analyst x1 | 179.92 |
| 2023 | 232.00 | Analyst x1 | 158.00 |
| 2024 | 235.00 | Analyst x1 | 145.39 |
| 2025 | 239.03 | Est @ 1.72% | 134.34 |
| 2026 | 243.86 | Est @ 2.02% | 124.51 |
| 2027 | 249.31 | Est @ 2.23% | 115.63 |
| 2028 | 255.25 | Est @ 2.38% | 107.55 |
| 2029 | 261.60 | Est @ 2.49% | 100.13 |
| Present value of next 10 years cash flows | $1,482.10 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= $261.60 × (1 + 2.73%) ÷ (10.08% – 2.73%) |
$3,656.36 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $3,656.36 ÷ (1 + 10.08%)10 |
$1,399.49 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,482.10 + $1,399.49 |
$2,881.58 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $2,881.58 / 55.47 |
$51.95 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $51.95 |
| Current discount | Discount to share price of
$39.66
= -1 x ($39.66 - $51.95) / $51.95 |
23.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- 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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-05-31) in USD | $2.68 |
| NYSE:WOR Share Price ** | NYSE (2019-07-19) in USD | $39.66 |
| United States of America Metals and Mining Industry PE Ratio | Median Figure of 45 Publicly-Listed Metals and Mining Companies | 10x |
| United States of America Market PE Ratio | Median Figure of 3,080 Publicly-Listed Companies | 17.88x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Worthington Industries.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:WOR Share Price ÷ EPS (both in USD) = 39.66 ÷ 2.68 |
14.78x |
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 good value 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?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 14.78x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts |
Not available |
| United States of America Metals and Mining Industry PEG Ratio | Median Figure of 23 Publicly-Listed Metals and Mining Companies | 0.67x |
| United States of America Market PEG Ratio | Median Figure of 2,119 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Worthington Industries, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Worthington Industries's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-05-31) in USD | $14.99 |
| NYSE:WOR Share Price * | NYSE (2019-07-19) in USD | $39.66 |
| United States of America Metals and Mining Industry PB Ratio | Median Figure of 106 Publicly-Listed Metals and Mining Companies | 1.42x |
| United States of America Market PB Ratio | Median Figure of 5,245 Publicly-Listed Companies | 1.79x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:WOR Share Price ÷ Book Value per Share (both in USD) = 39.66 ÷ 14.99 |
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.
Value checks
We assess Worthington Industries's value by looking at:- 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. )
- 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)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- Unable to compare Worthington Industries's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
- Unable to compare Worthington Industries's earnings growth to the United States of America market average as no estimate data is available.
- Worthington Industries's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:WOR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts | -0.1% |
| United States of America Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 19.6% |
| United States of America Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 5.6% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-05-31 | 3,706 | 1 | ||
| 2023-05-31 | 3,638 | 1 | ||
| 2022-05-31 | 3,597 | 1 | ||
| 2021-05-31 | 3,629 | 1 | ||
| 2020-05-31 | 3,416 | 267 | 197 | 2 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 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 |
| 2016-08-31 | 2,799 | 396 | 177 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month 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 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-05-31 | ||||
| 2023-05-31 | ||||
| 2022-05-31 | ||||
| 2021-05-31 | ||||
| 2020-05-31 | 3.40 | 3.40 | 3.40 | 1.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 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 |
| 2016-08-31 | 2.86 |
*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.
- Unable to establish if Worthington Industries will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Worthington Industries's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Worthington Industries has a total score of 0/6, 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
Past Earnings growth analysis
- Worthington Industries's year on year earnings growth rate has been positive over the past 5 years.
- 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
All data from Worthington Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 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 | |
| 2012-11-30 | 2,655.32 | 143.75 | 249.05 | |
| 2012-08-31 | 2,598.35 | 123.90 | 236.85 |
*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).
Past performance checks
We assess Worthington Industries's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.6x 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.
All data from Worthington Industries Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 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 |
| 2012-11-30 | 822.48 | 459.71 | 32.89 |
| 2012-08-31 | 792.38 | 467.13 | 30.48 |
- Worthington Industries's level of debt (79%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (70.9% vs 79% today).
- Debt is well covered by operating cash flow (26.4%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 3.7x coverage).
Financial health checks
We assess Worthington Industries's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Worthington Industries has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
$2,000 of
Worthington Industries
shares you are expected to receive
$48
in your first year as a dividend.
Dividend Amount
- Worthington Industries's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Worthington Industries's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
Upcoming dividend payment
Purchase Worthington Industries before the 'Buy Limit' to receive their next dividend payment.
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.
| 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 32 Stocks | 2.4% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2016 Stocks | 2.4% |
| 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 | 3.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| 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 | 1.00 |
| 2021-05-31 | 0.98 | 1.00 |
| 2020-05-31 | 0.96 | 1.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-06-26 | 0.960 | 2.444 |
| 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 |
| 2008-08-19 | 0.680 | 5.139 |
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 well covered by earnings (2.9x coverage).
- Dividends after 3 years are expected to be well covered by earnings (4.5x coverage).
Income/ dividend checks
We assess Worthington Industries's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| COMPENSATION | $4,428,242 |
| AGE | 65 |
| TENURE AS CEO | 26.1 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. 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:
- The average tenure for the Worthington Industries management team is less than 2 years, this suggests a new team.
Management Team
John McConnell
Chairman of the Board & CEO
$4M
65
26.1 yrs
Andy Rose
President
$3M
49
0.9 yrs
Geoff Gilmore
Executive VP
$3M
47
0.9 yrs
Virgil Winland
Senior Vice President of Manufacturing
$1M
71
18.5 yrs
Joe Hayek
VP & CFO
47
0.7 yrs
Matt Schlabig
Chief Information Officer
4.2 yrs
Dale Brinkman
Senior VP of Administration
66
20.6 yrs
Marcus Rogier
Investor Relations Officer & Treasurer
0.8 yrs
Sonya Higginbotham
Vice President of Corporate Communications & Brand Management
0.8 yrs
Cathy Lyttle
Senior VP & Chief Human Resources Officer
60
0.8 yrs
Board of Directors Tenure
Average tenure and age of the Worthington Industries board of directors in years:
- 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
Chairman of the Board & CEO
$4M
65
22.8 yrs
John Blystone
Lead Independent Director
$295K
65
12.5 yrs
Peter Karmanos
Director
$210K
76
22.5 yrs
Carl Nelson
Director
$215K
73
14.7 yrs
Mike Endres
Director
$200K
71
20.5 yrs
Mary Schiavo
Director
$200K
63
21.5 yrs
Sidney Ribeau
Director
$200K
72
19.5 yrs
Kerrii Anderson
Director
$200K
62
8.8 yrs
Mark Davis
Director
$200K
59
8.3 yrs
Ozey Horton
Director
$200K
68
8.1 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Worthington Industries individual insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | ||
| 30. Jul 18 | Sell | Dale Brinkman | Individual | 26. Jul 18 | 26. Jul 18 | -4,396 | $46.73 | $-205,425 | ||
| 25. Jul 18 | Sell | Terrence Dyer | Individual | 24. Jul 18 | 25. Jul 18 | -14,551 | $46.94 | $-681,104 | ||
Management checks
We assess Worthington Industries's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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
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 - – Full articleIs 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 - – Full articleIs 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 - – Full articleNeed 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 & 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 - – Full articleIs 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 - – Full articleShould 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 - – Full articleWhat 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 - – Full articleLooking At Worthington Industries, Inc. (NYSE:WOR) From All Angles
Help shape the future of investing tools and you could win a $250 gift card! … (NYSE:WOR) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective.
Simply Wall St - – Full articleIs There An Opportunity With Worthington Industries, Inc.'s (NYSE:WOR) 28% Undervaluation?
Today, we will estimate the stock's intrinsic value. … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleDoes Market Volatility Impact Worthington Industries, Inc.'s (NYSE:WOR) Share Price?
(NYSE:WOR), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.
Simply Wall St - – Full articleWOR 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. The company 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, HVAC, lawn and garden, leisure and recreation, and office furniture and equipment markets. It also toll processes steel for steel mills, large end-users, service centers, and other processors; and designs and manufactures reusable custom steel platforms, racks, and pallets for supporting, protecting, and handling products in the shipping process. The Pressure Cylinders segment manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, oil and gas equipment, and various accessories and related products for a range of end-use market applications, including industrial products, consumer products, alternative fuels, oil and gas equipment, and cryogenics. 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 agricultural, construction, forestry, military, and mining industries; and machined structural components, complex and painted weldments, and engine doors. Worthington Industries, Inc. was founded in 1955 and is headquartered in Columbus, Ohio.
Details
| Name: | Worthington Industries, Inc. |
| WOR | |
| Exchange: | NYSE |
| Founded: | 1955 |
| $2,199,860,880 | |
| 55,468,000 | |
| 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
Industry
| Steel | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/20 23:50 |
| End of day share price update: | 2019/07/19 00:00 |
| Last estimates confirmation: | 2019/07/17 |
| Last earnings filing: | 2019/06/26 |
| Last earnings reported: | 2019/05/31 |
| 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.
