Worthington Industries Inc (WOR)
Operating profit margin
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 23,304 | 24,580 | 10,051 | 598 | 83,002 | 267,545 | 265,206 | 307,350 | 322,197 | 249,537 | 333,579 | 387,832 | 431,077 | 424,762 | 386,492 | 333,391 | 167,473 | 63,360 | 12,202 | 6,956 |
| Revenue (ttm) | US$ in thousands | 1,153,762 | 1,154,679 | 1,166,910 | 1,979,784 | 2,915,736 | 3,825,795 | 3,855,355 | 3,943,975 | 4,159,375 | 4,450,815 | 5,482,740 | 5,540,060 | 5,242,220 | 4,700,239 | 4,081,108 | 3,579,340 | 3,171,429 | 2,804,737 | 2,809,624 | 2,906,169 |
| Operating profit margin | 2.02% | 2.13% | 0.86% | 0.03% | 2.85% | 6.99% | 6.88% | 7.79% | 7.75% | 5.61% | 6.08% | 7.00% | 8.22% | 9.04% | 9.47% | 9.31% | 5.28% | 2.26% | 0.43% | 0.24% |
May 31, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $23,304K ÷ $1,153,762K
= 2.02%
The operating profit margin of Worthington Industries Inc. has demonstrated significant fluctuations over the period from August 2020 through May 2025. Initially, at the end of August 2020, the margin was notably low at 0.24%, indicating minimal operating profitability during that period. The margin experienced a steady improvement over the subsequent quarters, reaching 0.43% in November 2020 and then increasing substantially to 2.26% by February 2021.
The upward trend continued into May 2021 with a margin of 5.28%, followed by a further notable increase to 9.31% in August 2021 and marginally higher at 9.47% in November 2021. During this period, the company achieved its peak operating profit margin of approximately 9.47%, reflecting a period of strong operating efficiency and profitability.
However, beginning in early 2022, the operating profit margin displayed a downward trend, falling to 9.04% in February 2022, then declining slightly to 8.22% in May 2022, and further decreasing to 7.00% by August 2022. This downward trajectory persisted into late 2022, with the margin diminishing to 6.08% in November 2022 and 5.61% in February 2023. During this period, the company's operating margins faced pressure, possibly due to market conditions, increased costs, or operational challenges.
In the subsequent quarters of 2023, a modest recovery was observed, with the margin increasing to 7.75% in May 2023 and slightly higher to 7.79% in August 2023, before dipping slightly to 6.88% in November 2023. At the start of 2024, the margin slightly increased again to 6.99% in February but then experienced a sharp decline to 2.85% in May 2024, followed by an even more pronounced drop to 0.03% in August 2024. This substantial contraction indicates an erosion of operating profitability during this timeframe.
In late 2024 and early 2025, the operating profit margin showed signs of modest recovery, moving upward to 0.86% in November 2024, then to 2.13% in February 2025, and stabilizing around 2.02% in May 2025. These recent figures reflect a partial rebound from the sharply contracting margins seen in mid-2024, though the margins remain relatively low compared to historical peaks.
Overall, the operating profit margin of Worthington Industries Inc. has experienced considerable volatility over the observed period. It has peaked at approximately 9.47% in late 2021 and has subsequently faced periods of decline, with notable sharp reductions beginning in mid-2024. The recent data suggest ongoing challenges in maintaining higher profitability levels, with a potential for variability driven by external market factors, operational efficiencies, cost pressures, or other strategic considerations.
Peer comparison
May 31, 2025