Worthington Industries Inc (WOR)
Operating return on assets (Operating ROA)
| 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 |
| Total assets | US$ in thousands | 1,695,150 | 1,682,000 | 1,657,020 | 1,645,270 | 1,679,480 | 1,704,690 | 3,584,140 | 3,476,690 | 3,650,920 | 3,497,670 | 3,390,660 | 3,510,140 | 3,643,020 | 3,738,160 | 3,517,630 | 3,547,760 | 3,373,240 | 3,137,870 | 3,027,380 | 3,131,050 |
| Operating ROA | 1.37% | 1.46% | 0.61% | 0.04% | 4.94% | 15.69% | 7.40% | 8.84% | 8.83% | 7.13% | 9.84% | 11.05% | 11.83% | 11.36% | 10.99% | 9.40% | 4.96% | 2.02% | 0.40% | 0.22% |
May 31, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $23,304K ÷ $1,695,150K
= 1.37%
The operating return on assets (ROA) of Worthington Industries Inc. exhibits significant variability over the recent period, reflecting fluctuations in operational efficiency and asset utilization. Beginning with a modest 0.22% as of August 31, 2020, the ROA demonstrated gradual improvement, reaching 0.40% by November 30, 2020. A substantial increase ensued in the following quarters, with the figure rising sharply to 2.02% on February 28, 2021, and further escalating to 4.96% by May 31, 2021. This upward trend continued appreciably, with the ROA peaking at 9.40% as of August 31, 2021, and maintaining high levels through November 30, 2021 (10.99%) and February 28, 2022 (11.36%).
Throughout 2022, the operating ROA remained relatively stable, fluctuating slightly around the 11% mark, with record highs of 11.83% on May 31, 2022, and a modest decline to 11.05% on August 31, 2022. However, a downward trend emerged thereafter, with the ROA decreasing to 9.84% as of November 30, 2022, and further declining to 7.13% by February 28, 2023. In the subsequent quarters, the rate somewhat recovered to 8.83% and 8.84% as of May and August 2023, respectively. Nevertheless, a notable decline reappeared, with the figure dropping to 7.40% as of November 30, 2023.
An exceptionally anomalous data point appears on February 29, 2024, with a sharply elevated ROA of 15.69%, which may represent a temporary anomaly, extraordinary income, or a specific accounting adjustment. Following this, the ROA diminishes again to 4.94% by May 31, 2024, and continues to decline to minimal levels of 0.04% on August 31, 2024, and further to 0.61% as of November 30, 2024. The same downward trend persists into early 2025, with the ROA at approximately 1.46% on February 28, 2025, and slightly decreasing to 1.37% by May 31, 2025.
Overall, the data depict a period of robust profitability and operational efficiency improvements from late 2020 through mid-2022, followed by a period of volatility and decline in the subsequent quarters, with occasional spikes that may not reflect sustainable operational performance. The recent trend suggests a diminished operating efficiency, with the most recent figures indicating a return to very low levels of operating ROA.
Peer comparison
May 31, 2025