WOR
Worthington Industries Inc
NYSE: WOR · INDUSTRIALS · METAL FABRICATION
$54.40
-0.69% today
Updated 2026-06-05
Market cap
$2.81B
P/E ratio
172.03
P/S ratio
2.12x
EPS (TTM)
$0.33
Dividend yield
1.31%
52W range
$45 – $70
Volume
0.2M
Worthington Industries Inc (WOR) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed WOR price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$54.40
Today
Analyst consensus
$65.40
+20.22% · 12M
2030 Base
$57.71
+6.08% future
NPV today
$35.67
@ 11% WACC
6 analysts:
2 Buy2 Hold1 Sell
Management guidance
Management has not provided explicit multi-year revenue targets through 2030. However, Q3 FY2026 earnings call emphasized 'resilient business system,' innovation-driven growth, and strategic acquisitions (LSI, Elgen) as growth engines. CEO Joseph Hayek maintains 35.1% ownership stake, signaling confidence in execution. Company targeting margin expansion and disciplined M&A to drive shareholder value.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
WOR · Worthington Industries Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$57.71
NPV today: $35.67
Base case (2030)
$57.71
NPV today: $35.67
Bull case (2030)
$96.25
NPV today: $59.49
WallStSmart.com
WOR financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.4B | $1.5B | $1.7B | $1.8B | $1.9B |
| Revenue growth | -7.4% | 22.2% | 8.5% | 9.8% | 8.3% | 7.1% |
| Net margin | — | 12.2% | 13.8% | 14.5% | 14.8% | 15.2% |
| EPS | $1.39 | $3.47 | $4.25 | $4.85 | $5.35 | $5.85 |
| Diluted shares | — | 50M | 50M | 50M | 50M | 51M |
| Net debt | — | $-163.01M | $-339.89M | $-534.11M | $-744.52M | $-969.96M |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $31.75 | $37.51 | $44.20 | $50.94 | $57.71 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $1.9B | $1.9B | $1.9B |
| P/S multiple | 1.0x | 1.0x | 2.0x |
| Diluted shares | 51M | 51M | 51M |
| Net debt | $-969.96M | $-969.96M | $-969.96M |
| Implied P/E † | 10x | 10x | 17x |
| 2030 Price | $57.71 | $57.71 | $96.25 |
| NPV @ 11% | $35.67 | $35.67 | $59.49 |
† Implied P/E: Multiples remain elevated across all three scenarios because WOR is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $57.71 base case
WOR catalysts and risks
Growth catalysts
+ LSI Group acquisition (completed Jan 2026) contribution to Building Products revenue and margin expansion
+ Data center liquid cooling market penetration — emerging high-margin opportunity tied to hyperscaler capex cycles
+ Steel price stabilization and tariff regime clarity — removal of uncertainty could unlock demand in building products and industrial end-markets
+ Margin expansion from operational synergies and new product launches across Building Products and Engineered Cabs segments
+ Continued strategic M&A in specialty metal fabrication and value-added processing to drive inorganic growth
Key risks
- Cyclical exposure to construction, automotive, and industrial end-markets — downturns could compress 2028-2030 growth rates
- Steel price volatility and input cost inflation — limited pricing power in commodity-linked products
- Trade tariffs and geopolitical uncertainty — potential disruption to supply chains and customer demand, particularly in automotive and building products
- Integration execution risk on recent acquisitions (LSI, Elgen) — synergy realization critical to achieving margin targets
- Competition from larger diversified industrials (Commercial Metals, Ryerson) and regional players — market share defense required to maintain growth
Methodology · Worthington Industries Inc 2030 stock forecast model
Worthington Industries Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 6 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (3% cumulative for WOR by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-969.96M by 2030) |
| 3. Time value | NPV calculated using 11% WACC (CAPM: beta 1.182) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 2.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
WOR price target FAQ
What is the WOR price target for 2030?
WallStSmart's Worthington Industries Inc 2030 base case is $57.71 per share, with a bull case of $96.25 and bear case of $57.71. The NPV of the base case discounted to today at 11% WACC is $35.67.
How is the Worthington Industries Inc 2030 stock forecast calculated?
The WOR 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the WOR price target account for dilution?
Worthington Industries Inc is projected to grow diluted share count from 49M to 51M by 2030 (a 3% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 3%.
What is the analyst consensus on WOR stock?
6 analysts cover WOR with an average 12-month price target of $65.40. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.