Worthington Steel Inc (WS)
Pretax 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 148,100 | 148,300 | 197,600 | 173,300 | 216,732 | 232,862 | 176,562 | 163,162 | 125,065 | 75,170 |
| Revenue (ttm) | US$ in thousands | 3,093,300 | 3,171,400 | 3,289,800 | 3,358,800 | 3,431,528 | 3,408,415 | 3,383,315 | 3,443,715 | 3,611,627 | 3,798,380 |
| Pretax margin | 4.79% | 4.68% | 6.01% | 5.16% | 6.32% | 6.83% | 5.22% | 4.74% | 3.46% | 1.98% |
May 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $148,100K ÷ $3,093,300K
= 4.79%
The pretax margin of Worthington Steel Inc. has exhibited a general upward trend over the analyzed period, starting at 1.98% as of February 28, 2023. This initial figure indicates a relatively modest profitability before taxes. By May 31, 2023, the pretax margin increased more than proportional to reach 3.46%, reflecting improvement in operational efficiency or margin expansion.
The upward trajectory continued into August 31, 2023, with the pretax margin reaching 4.74%, further signifying enhanced profitability. The peak within this period appeared on November 30, 2023, at 5.22%, suggesting sustained operational improvements or favorable market conditions. The trend persisted into the next fiscal year, with the margin rising significantly to 6.83% as of February 29, 2024, indicating a robust period of profitability.
Subsequently, a slight decline occurred, with the margin decreasing to 6.32% on May 31, 2024. Despite this decline, the margin remained relatively high, maintaining strength compared to earlier figures. By August 31, 2024, the pretax margin declined further to 5.16%, but then experienced a modest recovery, reaching 6.01% on November 30, 2024.
Into early 2025, the pretax margin showed signs of contraction, falling to 4.68% by February 28, 2025, and slightly increasing again to 4.79% by May 31, 2025. Overall, the data indicates that Worthington Steel Inc. has experienced periods of rising pretax profitability, with the peak around late 2023 and early 2024, followed by fluctuations in the subsequent quarters. The patterns suggest potential influences from operating costs, market conditions, or strategic adjustments, impacting the company's pre-tax earnings relative to sales during this timeframe.
Peer comparison
May 31, 2025