Worthington Steel (WS) Cash Flow: Operating & Free Cash Flow

Worthington Steel Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Worthington Steel, Inc. (WS) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period ending	May 2026	May 2025	May 2024	May 2023	May 2022	May 2021
Operating Activities
Net Income	-12.90	119.30	154.70	99.70	200.25	188.67
Depreciation & Amortization	84.20	66.00	65.30	69.58	59.50	44.95
Deferred Income Tax	-10.40	-3.10	1.10	-9.72	13.64	-5.19
Stock Based Compensation	13.90	11.00	10.30	10.35	8.67	10.14
Change in Working Capital	28.80	20.20	-30.40	139.93	-203.98	-72.75
Change in Accounts Receivable	-16.30	34.10	-1.40	107.19	-121.98	-220.59
Change in Inventory	47.20	-16.70	16.40	154.53	-50.67	-178.38
Change in Accounts Payable	-17.40	15.80	-26.70	-124.34	-14.95	293.08
Change in Other Working Capital	9.90	-3.20	-18.70	2.56	-16.39	33.13
Other Operating Activities	87.20	13.80	-1.50	5.16	-38.59	-13.27
Net Cash from Operating Activities	201.20	230.30	199.50	315.01	39.49	152.55
Investing Activities
Capital Expenditures	-121.20	-130.40	-103.40	-45.47	-36.44	-28.80
Acquisitions	-2.90	0.00	-28.60	0.00	-383.52	0.93
Purchases of Investments	-106.20	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.30	-129.10	0.00	23.32	24.62	0.19
Net Cash from Investing Activities	-213.40	-129.10	-132.00	-22.15	-395.35	-27.69
Financing Activities
Debt Repayment	-22.40	-522.50	145.20	-60.20	76.70	0.00
Common Stock Issued	-5.90	-3.10	0.30	0.00	0.00	0.00
Common Stock Repurchased	0.00	-3.10	0.00	0.00	0.00	0.00
Dividends Paid	-32.60	-31.90	-7.90	0.00	0.00	0.00
Other Financing Activities	-10.40	-17.00	-197.60	-220.03	281.75	-10.69
Net Cash from Financing Activities	3.00	-48.50	-60.00	-280.23	358.45	-116.68
Summary
Effect of Forex Changes on Cash	0.90	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	-8.30	52.70	7.50	12.63	2.59	8.18
Cash at Beginning of Period	92.90	40.20	32.70	20.05	17.46	9.28
Cash at End of Period	84.60	92.90	40.20	32.68	20.05	17.46
Free Cash Flow	80.00	99.90	96.10	269.54	3.05	123.75
Supplemental Disclosures
Interest Paid	-	7.70	4.50	-	-	-
Income Taxes Paid	-	26.20	37.60	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Aug 31, 2026. Data sources and methodology

Frequently Asked Questions About Worthington Steel Cash Flow

What is Worthington Steel's free cash flow?

Worthington Steel generated free cash flow of $80.00M in fiscal 2026 (fiscal year ended May 31, 2026), operating cash flow of $201.20M minus $121.20M of capital expenditures. That was down 19.9% from $99.90M a year earlier. Free cash flow equaled 2.3% of revenue.

How much does Worthington Steel spend on capital expenditures?

Worthington Steel spent $121.20M on capital expenditures in fiscal 2026, compared with $130.40M a year earlier. That equals 60.2% of operating cash flow.

Does Worthington Steel pay dividends or buy back shares?

Yes. In fiscal 2026 Worthington Steel returned $32.60M in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition