LinkedIn
WebsiteIntroduction
Worthington Enterprises Inc (NYSE: WOR) is a Columbus, Ohio–based designer and manufacturer of brands in the building and consumer products industries. The company was formed on December 1, 2023, through the separation of Worthington Industries and focuses on cooking, heating, cooling and water solutions, architectural and acoustical grid ceilings, metal framing, and consumer tools, outdoor living, and celebration products.
Corporate Structure
Worthington Enterprises operates two primary business segments:
- Building Products: cooking, heating, cooling and water solutions; architectural and acoustical grid ceilings; metal framing and accessories.
- Consumer Products: tools, outdoor living, and celebrations categories under brands such as Balloon Time®, Bernzomatic®, Coleman®, HALO™, Garden Weasel®, Level5 Tools®, and Ragasco®.
The company employs approximately 6,000 people across North America and Europe and maintains joint ventures including WAVE (a collaboration with Armstrong World Industries) and ClarkDietrich (with ClarkWestern Building Systems and Dietrich Metal Framing).
In July 2025, Worthington was recognized as one of 43 companies worldwide in the Machines & Industrial Equipment category of Newsweek and Statista’s “World’s Most Trustworthy Companies.”
Building Products by Andhika Y. Wiguna
Recent Developments and News
September 24, 2025
- Stock Performance: Shares closed at $51.02, down 15.33% on a trading volume of 204,144. Year-to-date, the stock price has fluctuated between $37.88 and $70.91.
- Q1 2026 Earnings: On September 24, Worthington reported that volume growth in the Building Products segment and increased contributions from WAVE contributed to earnings improvement, while the Consumer Products segment showed continued performance amidst a challenging macro environment. Joe Hayek, president and CEO, mentioned that the company benefited from strong customer relationships and its portfolio of established brands.
- Ragasco Anniversary: On September 23, Ragasco marked its 25th anniversary, reaching the production milestone of 25 million composite LPG cylinders.
Financial and Strategic Analysis
As of September 24, 2025:
- Market Capitalization: $3.00 billion
- Revenue (TTM): $1.20 billion
- Net Income (TTM): $106.95 million
- Profit Margin: 8.91%
- Return on Equity: 11.36%
- Total Cash (MRQ): $167.12 million
- Total Debt/Equity (MRQ): 36.08%
- Forward P/E: 16.89
- Dividend Yield: 1.26%
The balance sheet reflects moderate leverage, with debt comprising 36% of equity and $167 million in cash on hand. Free cash flow for the trailing twelve months was $13.19 million. Analyst consensus on Yahoo Finance assigns a “Buy” rating with a 12-month target price of $69.00.
Strategically, Worthington’s joint ventures and brand acquisitions—including HALO in 2024 and the Ragasco composite cylinder division—aim to diversify end markets and enhance its presence in sustainable energy and outdoor living segments.
Market Position and Industry Context
Worthington Enterprises is the only manufacturer of disposable 1 lb propane cylinders in North America, catering to both consumer and industrial applications. Its Building Products segment competes in markets such as construction, HVAC, water systems, and architectural interiors, while the Consumer Products segment serves home improvement, mass retail, and specialty channels.
Within the global hydrogen ecosystem, the company engages in a joint venture focused on on-board fueling systems and gas containment solutions. Industry metrics indicate Worthington has an enterprise value/revenue multiple of 2.67Ă— and an enterprise value/EBITDA multiple of 17.17Ă—, consistent with peers in industrial manufacturing.
tl;dr
On September 24, 2025, Worthington Enterprises shares fell 15.33% to $51.02 following reactions to Q1 2026 earnings. The company reported volume increases in the Building Products segment and stable performance in Consumer Products. Market capitalization is $3 billion, with trailing revenue of $1.20 billion and net income of $106.95 million. Analysts maintain a “Buy” rating with a target price of $69.00. Future outlook focuses on integrating recent acquisitions (HALO and Ragasco) and leveraging joint ventures for growth in sustainable energy and hydrogen markets.
