Forensic Analysis · Materials / Mining & Chemicals · as of Aug 11, 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
6.2
Distress distance
Clean
Earnings quality
5
Forensic signals
18.1
P / E (ttm)
15.2%
ROE
$2.8B
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). 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 6.2, placing it in the Safe zone. 5 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 total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by inventory up +22% against +20% in cost of sales and PP&E up +15% against revenue +20%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 6% of net operating assets, diverging from the balance-sheet accrual read.
3.7%
FY2026
Return on invested capital.Return on invested capital is 3.7% in the latest fiscal year and rising from 1% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
+0.2%/yr
FY2023–FY2026
Share count.Diluted share count changed +1% over the last 3 years to FY2026 (+0.2%/yr). Roughly flat — buybacks ($44M) are about offsetting stock comp ($14M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
$22M
FY2020–FY2020
Goodwill impairments.Took $22M of goodwill writedowns across 1 year (FY2020 ($22M)) — about 28% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.
-40%
FY2024→FY2025
Key fundamentals
Latest Revenue$1.38B
Revenue Growth YoY+19.7%
Revenue CAGR (3yr)-0.9%
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?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Worthington Enterprises, Inc. (WOR) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
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.