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 -$11.55 per share. The share price was $39.65 on November 10, 2026, 443% below 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% | -$17.80 | -145% |
| Base | -4.0% | 9.0% | -$11.55 | -129% |
| Bull | 1.0% | 8.0% | $0.11 | -100% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | -$7.35 | -$6.12 | -$4.60 | -$2.71 | -$0.28 |
| 8.0% | -$10.45 | -$9.65 | -$8.70 | -$7.56 | -$6.17 |
| 9.0% | -$12.73 | -$12.18 | -$11.55 | -$10.81 | -$9.94 |
| 10.0% | -$14.48 | -$14.09 | -$13.65 | -$13.14 | -$12.56 |
| 11.0% | -$15.87 | -$15.58 | -$15.26 | -$14.90 | -$14.49 |
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