Worthington Enterprises, Inc. (WOR) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Materials / Mining & Chemicals · as of Sep 24, 2026
Worthington Enterprises, Inc. (WOR)
A forensic read on Worthington Enterprises, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
6.3
Distress distance
Clean
Earnings quality
3
Forensic signals
18.0
P / E (ttm)
15.2%
ROE
$2.9B
Market cap
1.43%
Dividend yield
19.7%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Worthington Enterprises, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 6.3, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+27.4%
FY2025→FY2026
Accruals ratio (% of NOA).Net operating assets grew +27.4% relative to their own average in FY2026 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by inventory up +22% against +20% in cost of sales and PP&E up +15% against revenue +20%. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 6% of net operating assets, against an accruals ratio of 27.4%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
3.7%
FY2026
Return on invested capital.Return on invested capital is 3.7% in the latest fiscal year and rising across FY2024–FY2026 from -4%. The capital base behind it grew +31% across FY2024–FY2026, from $1.2B to $1.6B, and the return did not fall doing it, so the dollars added over that window earned at least the -4% the older base was already earning.
-40%
FY2024→FY2025
Dividend — cut.The payout was CUT ~40% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.
Key fundamentals
Latest Revenue$1.38B
Revenue Growth YoY+19.7%
Revenue CAGR (2yr)+5.3%
Net Margin11.3%
Free Cash Flow$170.2M
Return on Equity15.2%
Debt / Equity0.30x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Worthington Enterprises, Inc.'s actual 10-K/10-Q/8-K filings?