What is Worthington Steel, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Worthington Steel, Inc.'s reported free cash flow gives $17.27 per share. The share price was $36.26 on September 25, 2026, 110% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -9.0% | 10.0% | $11.02 | -70% |
| Base | -4.0% | 9.0% | $17.27 | -52% |
| Bull | 1.0% | 8.0% | $28.93 | -20% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $21.46 | $22.70 | $24.21 | $26.11 | $28.54 |
| 8.0% | $18.36 | $19.17 | $20.12 | $21.26 | $22.65 |
| 9.0% | $16.09 | $16.63 | $17.27 | $18.01 | $18.88 |
| 10.0% | $14.34 | $14.73 | $15.17 | $15.68 | $16.26 |
| 11.0% | $12.95 | $13.24 | $13.56 | $13.92 | $14.33 |
Where the presets come from
Base: years 1 to 5 grow at Worthington Steel, Inc.'s revenue growth rate over the last 4 fiscal years (-4.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions