Sylvamo vs Worthington Steel
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The short version
- Worthington Steel is the larger business, with $3.4B of revenue in fiscal 2026 against $3.4B for Sylvamo.
- Worthington Steel grew revenue faster (11.3%, against −11.2%).
- Sylvamo kept more of each dollar of sales as operating profit (7.5% operating margin, against −0.0%).
- Worthington Steel turned more of its sales into free cash flow (2.3% FCF margin, against 1.3%).
- Sylvamo earned a higher return on the capital invested in it (10.9%, against −0.1%).
| Latest fiscal year | SLVM · FY25 | WS · FY26 |
|---|---|---|
| Size | ||
| Market cap | $1.3B | $2.0B |
| Revenue | $3.4B | $3.4B |
| Free cash flow | $44.0M | $80.0M |
| Net income | $132M | $8.5M |
| Growth | ||
| Revenue growth | −11.2% | 11.3% |
| 5-year growth | 7.0% | — |
| Share count change | −3.1% | 0.6% |
| Profitability | ||
| Gross margin | — | 11.7% |
| Operating margin | 7.5% | −0.0% |
| Net margin | 3.9% | 0.3% |
| FCF margin | 1.3% | 2.3% |
| Return on capital | 10.9% | −0.1% |
| Return on equity | 14.6% | 0.8% |
| Balance sheet | ||
| Net debt | $651M | $181M |
| Net debt / EBITDA | 1.5x | 2.2x |
| Dividends and buybacks | $155M | $32.6M |
| Valuation & quality | ||
| P/E | 17.4x | — |
| Piotroski F-score | 5 | 5 |
Revenue
FY19
SLVM $4.0B
WS —
FY20
SLVM $2.4B
WS —
FY21
SLVM $2.8B
WS —
FY22
SLVM $3.6B
WS $4.1B
FY23
SLVM $3.7B
WS $3.6B
FY24
SLVM $3.8B
WS $3.4B
FY25
SLVM $3.4B
WS $3.1B
FY26
SLVM —
WS $3.4B
SLVM
WS
Operating margin
FY19
SLVM —
WS —
FY20
SLVM —
WS —
FY21
SLVM —
WS —
FY22
SLVM 15.2%
WS 5.6%
FY23
SLVM 11.9%
WS 3.3%
FY24
SLVM 12.0%
WS 5.7%
FY25
SLVM 7.5%
WS 4.8%
FY26
SLVM —
WS −0.0%
SLVM
WS
Free cash flow
FY19
SLVM $406M
WS —
FY20
SLVM $293M
WS —
FY21
SLVM $480M
WS —
FY22
SLVM $289M
WS $3.1M
FY23
SLVM $294M
WS $270M
FY24
SLVM $248M
WS $96.1M
FY25
SLVM $44.0M
WS $99.9M
FY26
SLVM —
WS $80.0M
SLVM
WS
Return on capital
FY19
SLVM —
WS —
FY20
SLVM —
WS —
FY21
SLVM 14.5%
WS —
FY22
SLVM 29.0%
WS —
FY23
SLVM 20.2%
WS —
FY24
SLVM 21.9%
WS 12.9%
FY25
SLVM 10.9%
WS 8.8%
FY26
SLVM —
WS −0.1%
SLVM
WS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.