WORTHINGTON ENTERPRISES, INC. (WOR) FY2025 10-K Annual Report
WORTHINGTON ENTERPRISES, INC. (WOR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Jul 30, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
WORTHINGTON ENTERPRISES, INC. FY2025 10-K Analysis
Business Overview
- • Core business model: Manufacture and sale of tools, outdoor living products, propane cylinders, and pressurized containment solutions via Consumer and Building Products segments
- • New emphasis on acquisitions: Acquired Ragasco ($108.6M) expanding composite propane cylinders, and majority stake in Halo ($9.6M) for outdoor cooking tech solutions
- • Strategic shift: Building Products segment growth to 57% of net sales (from 50% in 2024), Consumer Products share increased modestly to 43%
- • Notable quantitative metric: Capital expenditures rose to $50.6M in FY 2025 from $47.4M in FY 2024, with international PPE nearly doubling to $47.1M
- • Unusual fact: $50.1M impairment charge in Q4 FY 2025 related to intangible assets from GTI acquisition, along with restructuring expense tied to Ragasco earnout adjustment
Management Discussion & Analysis
- • Operating cash flow $209.7M in FY2025, down from $290.0M in FY2024, decrease due to lower net earnings and joint venture dividends
- • Investing cash outflow $135.1M in FY2025 driven by $95.0M Ragasco acquisition and $50.6M capex, partially offset by $11.5M asset sale proceeds
- • Financing cash outflow $68.8M in FY2025 including $30.9M share repurchases (700,000 shares) and $33.9M dividends paid
- • Dividend payout $33.9M in FY2025, $0.68 per share declared vs $56.8M and $0.96 per share in FY2024
- • Impairment charge recognized in Q4 FY2025 on intangible assets of GTI segment within Consumer Products; goodwill impairment not recognized in other segments
Risk Factors
- • Regulatory risk: U.S. Section 232 aluminum tariffs increased from 25% to 50% in Q4 fiscal 2025, raising costs for aluminum-intensive components
- • Macroeconomic threat: U.S. GDP contracted 0.5% annualized in Q1 calendar 2025, signaling weakening demand across key end markets
- • Supply chain vulnerability: Elevated aluminum tariffs expected to increase input costs into fiscal 2026 despite mitigation efforts via forward buying
- • Competitive risk: Joint venture with Hexagon exposes Company to competition in composite gas cylinders, challenging legacy product lines
- • Financial risk: $108.6M acquisition of Ragasco includes $11.5M contingent consideration settled in March 2025, impacting restructuring expense
WORTHINGTON ENTERPRISES, INC. FY2025 Key Financial MetricsXBRL
Revenue
$1.2B
▼ -7.4% YoY
Net Income
$96M
▼ -13.2% YoY
Gross Margin
27.7%
▲ +477bp YoY
Operating Margin
-0.9%
▲ +497bp YoY
Net Margin
8.3%
▼ -56bp YoY
ROE
10.2%
▼ -220bp YoY
Total Assets
$1.7B
▲ +3.4% YoY
EPS (Diluted)
$1.92
▼ -12.7% YoY
Operating Cash Flow
$210M
▼ -27.7% YoY
Source: XBRL data from WORTHINGTON ENTERPRISES, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on WORTHINGTON ENTERPRISES, INC.
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.