Worthington Enterprises, Inc. (WOR) Stock Price & How to Invest

Worthington Enterprises, Inc. was founded in 1955 as a value-added steel processor and spent most of its life as Worthington Industries. On December 1, 2023 it distributed its steel processing business to shareholders as a separate NYSE company, Worthington Steel (WS), renamed itself, and kept the WOR ticker. What stayed behind is two reportable segments. Building Products, about 62 percent of fiscal 2026 net sales at ~$861.5 million, makes pressurized containment products (LPG and refrigerant cylinders, well water and expansion tanks under Well-X-Trol, composite cylinders under Ragasco), HVAC ductwork and framing through Elgen, and standing-seam metal roof clips through LSI and Roof Hugger. Consumer Products, ~$519.8 million or 38 percent, sells handheld torches and fuel under Bernzomatic, helium balloon kits under Balloon Time, drywall and precision tools under Level5 and General, and grills and pizza ovens under Halo and a licensed Coleman brand, largely through mass retailers. Sitting outside all of that are the unconsolidated joint ventures accounted for on the equity method: WAVE, a 50 percent interest with Armstrong World Industries in ceiling suspension systems, and ClarkDietrich, a 25 percent interest in light gauge steel framing, plus smaller stakes in SES (49 percent, with Hexagon Composites) and Workhorse (20 percent). About 3,800 people work at the consolidated operations, which run 12 Building Products facilities and five Consumer Products facilities across the US, Norway and Portugal.

The investment picture turns on that structure. Fiscal 2026, which ended May 31, 2026, produced net sales of ~$1,381.3 million (up ~19.7 percent), operating income of ~$76.2 million, and net earnings of ~$155.0 million, or ~$3.14 per diluted share and ~$3.37 adjusted. Equity income from the joint ventures was ~$134.6 million of the ~$201.3 million pretax total, which is to say the wholly-owned factories generated well under half the profit while carrying all of the revenue. The trend inside that number diverged sharply: WAVE's net earnings rose to ~$235.6 million on ~$518.9 million of its own sales, an operating margin near 48 percent, while ClarkDietrich's net earnings fell to ~$87.5 million from ~$163.2 million in fiscal 2025 and ~$239.3 million in fiscal 2024 on essentially flat revenue, a pure margin compression in non-residential construction. The fourth quarter reported on June 23, 2026 missed on both lines (~$371.5 million of sales against estimates near $386.5 million, ~$0.97 adjusted EPS against ~$1.04 to ~$1.06) and the shares fell about 6 percent the next session. The dividend was raised 5 percent to $0.20 per quarter in June.

The next print reversed that reaction. Fiscal first quarter 2027 results (quarter ended August 31, 2026), released September 22, showed net sales of ~$344 million, up ~13 percent with ~7 percent organic growth and ~$19 million from acquisitions, adjusted EPS of ~$0.82 against estimates near ~$0.75, adjusted EBITDA of ~$74 million (up ~10 percent) and free cash flow of ~$54 million, nearly double the prior year. The company also renamed its segments: Building Products is now Building Performance Solutions (sales up ~16 percent to ~$215 million) and Consumer Products is now Trade and Specialty Solutions (sales up ~8 percent to ~$129 million, with margin helped by ~$4 million of IEEPA tariff refunds). Management highlighted ASME tanks for data-center liquid cooling, which shipped ~$13 million in all of fiscal 2026 and about ~$13 million in the August quarter alone. The shares rose about 15 percent on the release and closed at $64.46 on October 16, 2026, up ~24.1 percent year to date and ~13.8 percent over one year, near the top of a 52-week range of ~$45.01 to ~$67.54, for a market value near ~$3.18 billion. Fiscal second-quarter results are expected around mid-December 2026.

The most structural risk is that roughly two thirds of pretax earnings come from ventures Worthington does not control, at 50 percent and 25 percent ownership, so an operating decision, a distribution policy change or a partner dispute at WAVE or ClarkDietrich would move reported results without any change at the company's own plants. End-market exposure is cyclical on both sides: Building Products depends on residential and non-residential construction and repair and remodel activity, while Consumer Products sells discretionary grills, pizza ovens, torches and balloon kits whose demand follows retail traffic and consumer confidence. Customer concentration is real, with one retail customer accounting for about 10 percent of consolidated net sales and roughly 28 percent of Consumer Products sales, so a shelf-space or inventory decision at a single buyer carries weight. Input costs are exposed to steel, aluminum, copper, propane and helium, and the 10-K names the evolving tariff environment as a particularly significant driver of unpredictable domestic steel pricing, with the added wrinkle that steel is bought partly from the spun-off Worthington Steel under a supply agreement. Finally, results have swung against expectations in both directions: the June 2026 quarter missed and the shares fell about 6 percent, then the August quarter beat and they rose about 15 percent. After a ~24 percent gain in 2026 through October 16, the stock sits near its 52-week high, so the data-center tank story now carries expectations of its own, and insiders sold roughly $6.7 million of shares in late September 2026 according to SEC filings.

5 analysts publish price targets on WOR, averaging $70.40 against a $64.24 price as of October 2026, or +9.6%. The published targets run from $56.00 to $76.00, a narrow spread, and the ratings split 3 buy, 0 hold, 1 sell. Over the last six months there has been 1 raise and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full WOR forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Worthington Enterprises, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. WAVE is the earnings engine and it never appears in revenue. The 50 percent ceiling suspension venture with Armstrong World Industries earned ~$250.6 million of operating income on ~$518.9 million of its own net sales in fiscal 2026, a margin near 48 percent, and grew net earnings in each of the last three years (~$206.0 million, ~$221.5 million, ~$235.6 million). The most optimistic published target, $76.00, assumes this works close to its best case.

The case against. The most structural risk is that roughly two thirds of pretax earnings come from ventures Worthington does not control, at 50 percent and 25 percent ownership, so an operating decision, a distribution policy change or a partner dispute at WAVE or ClarkDietrich would move reported results without any change at the company's own plants. The most pessimistic target, $56.00, is roughly what WOR is worth if this bites instead.

Read the full bull and bear case on WOR, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Worthington Enterprises, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$1.42 billion through August 31, 2026; fiscal 2026 (ended May 31) ~$1.38 billion
• Q1 FY2027 (reported September 22, 2026): net sales ~$344 million (+13%), adjusted EPS ~$0.82 vs ~$0.75 consensus
• Equity income from joint ventures (FY2026): ~$134.6 million, about two thirds of ~$201.3 million pretax earnings
• Profitability: trailing adjusted EBITDA ~$303 million; trailing free cash flow a record ~$196 million
• P/E: ~19x trailing, ~15x forward
• Dividend: $0.20 quarterly ($0.80 annual), yield ~1.2%
• Market cap and net debt: ~$3.18 billion at $64.46 (Oct 16, 2026); net debt ~$250 million

The ~$1.42 billion trailing revenue figure understates the economics, so a price-to-sales ratio computed from it (near 2.2x) is not a meaningful comparison to a fully consolidated manufacturer. WAVE and ClarkDietrich are equity-method investments, which means none of WAVE's ~$518.9 million or ClarkDietrich's ~$1,160.7 million of fiscal 2026 sales flows through Worthington's top line while their combined ~$134.6 million of attributed profit flows straight to pretax earnings. Using ~$3.18 billion of equity value plus ~$250 million of net debt, enterprise value of roughly ~$3.4 billion against ~$303 million of trailing adjusted EBITDA works out near 11x, though that EBITDA itself includes equity income the company collects as distributions rather than as operating cash. Five analysts cover the stock in Yahoo Finance's data, with an average target near $70.

Other names that sit close to WOR: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get WOR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so WOR sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where WOR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

WOR is a mid-cap industrial whose consolidated income statement understates the business it controls and overstates how much of the profit its own factories produce, so a view on the stock is mostly a view on WAVE's ceiling grid economics and on when non-residential construction turns back in ClarkDietrich's favor. Since September 2026 a third question has joined them: how large the new data-center liquid-cooling tank business can become.

Whether WOR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is WOR a buy or a sell?, and where the stock could go from here in the WOR stock forecast.

For income investors, whether WOR pays a dividend and how the payout looks is covered in does WOR pay a dividend? And to weigh WOR against a peer, read the full side-by-side comparisons: WOR vs WTS and WOR vs LPG.