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Insteel Industries vs Worthington Steel: revenue, profit, margins and growth compared

Insteel Industries brought in $647.7M of revenue in fiscal 2025, Worthington Steel $3.4B in fiscal 2026. Revenue changed by +22.4% at Insteel Industries and +11.3% at Worthington Steel on the year before, so Insteel Industries grew faster. Insteel Industries kept 6.3% of its revenue as net profit, Worthington Steel 0.2%. Free cash flow was $19M at Insteel Industries and $80M at Worthington Steel.

Side by side, latest fiscal year

IIINWS
Fiscal year endedFY2025 (September 27, 2025)FY2026 (May 31, 2026)
Revenue$647.7M$3.4B
Revenue growth+22.4%+11.3%
Net income$41M$8.5M
Net margin6.3%0.2%
Free cash flow$19M$80M
Free cash flow margin2.9%2.3%
Earnings per share (diluted)$2.10$0.17
Cash$38.6M$84.6M
Debtn/a$71.4M
Price to earnings14.0213.3
Market value$570.7M$1.8B
Dividend yield3.80%1.77%
Rank by revenue in sector#297 of 451 · Industrials#161 of 451 · Industrials

Over the years

Revenue
IIIN FY2018: $453.2MIIIN FY2019: $455.7MIIIN FY2020: $472.6MIIIN FY2021: $590.6MIIIN FY2022: $826.8MIIIN FY2023: $649.2MIIIN FY2024: $529.2MIIIN FY2025: $647.7MWS FY2022: $4.1BWS FY2024: $3.6BWS FY2024: $3.4BWS FY2025: $3.1BWS FY2026: $3.4BFY18FY19FY20FY21FY22FY23FY24FY25FY26
IIIN $647.7MWS $3.4B
Net income
IIIN FY2018: $36.3MIIIN FY2019: $5.6MIIIN FY2020: $19MIIIN FY2021: $66.6MIIIN FY2022: $125MIIIN FY2023: $32.4MIIIN FY2024: $19.3MIIIN FY2025: $41MWS FY2022: $180.4MWS FY2024: $87.1MWS FY2024: $154.7MWS FY2025: $110.7MWS FY2026: $8.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
IIIN $41MWS $8.5M
Net margin
IIIN FY2018: 8.0%IIIN FY2019: 1.2%IIIN FY2020: 4.0%IIIN FY2021: 11.3%IIIN FY2022: 15.1%IIIN FY2023: 5.0%IIIN FY2024: 3.6%IIIN FY2025: 6.3%WS FY2022: 4.4%WS FY2024: 2.4%WS FY2024: 4.5%WS FY2025: 3.6%WS FY2026: 0.2%FY18FY19FY20FY21FY22FY23FY24FY25FY26
IIIN 6.3%WS 0.2%
Revenue growth
IIIN FY2019: +0.6%IIIN FY2020: +3.7%IIIN FY2021: +25.0%IIIN FY2022: +40.0%IIIN FY2023: -21.5%IIIN FY2024: -18.5%IIIN FY2025: +22.4%WS FY2024: -11.3%WS FY2024: -4.9%WS FY2025: -9.8%WS FY2026: +11.3%FY19FY20FY21FY22FY23FY24FY25FY26
IIIN +22.4%WS +11.3%
Free cash flow
IIIN FY2018: $35.5MIIIN FY2019: -$3.9MIIIN FY2020: $49.1MIIIN FY2021: $52.4MIIIN FY2022: -$10.2MIIIN FY2023: $111.5MIIIN FY2024: $39.1MIIIN FY2025: $19MWS FY2022: $3.1MWS FY2024: $269.5MWS FY2024: $96.1MWS FY2025: $99.9MWS FY2026: $80MFY18FY19FY20FY21FY22FY23FY24FY25FY26
IIIN $19MWS $80M

Fiscal years as each company reports them; the two may end in different months.

Questions about Insteel Industries and Worthington Steel

Which is bigger by revenue, Insteel Industries or Worthington Steel?

Worthington Steel is bigger by revenue: $3.4B in fiscal 2026, against $647.7M for Insteel Industries in fiscal 2025.

Which keeps more of its revenue as profit, Insteel Industries or Worthington Steel?

Insteel Industries had a net margin of 6.3% in fiscal 2025; Worthington Steel had 0.2% in fiscal 2026.

Which grew revenue faster, Insteel Industries or Worthington Steel?

In their latest fiscal years revenue changed by +22.4% at Insteel Industries and +11.3% at Worthington Steel.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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