HIGHBuilt-inCommodity
70%
hot-rolled steel
“10-K Item 1: 'During fiscal 2025, we purchased approximately 2.44 million tons of steel (70% hot-rolled, 20% cold-rolled and 10% galvanized).'”
WS · Concentration risk · 10-K extracted
Worthington Steel (WS) concentration risks
Updated
The most significant concentration Worthington Steel discloses is hot-rolled steel at 70%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Worthington Steel’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 6 disclosed concentrations
HIGH2
MEDIUM3
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inProduct / Revenue mix
52%
automotive
“10-K Item 1A: 'The automotive and construction industries account for approximately 52.0% and 11.0%, respectfully, of our net sales'”
MEDIUMOutside partyCustomer
33%
top three customers
“10-K Item 1: 'During fiscal 2025, our top three customers represented approximately 33.0% of total net sales.'”
MEDIUMOutside partyCustomer
Detroit Three automakers
“10-K Item 1A: 'Although we do sell to the domestic operations of foreign automakers and their suppliers, a significant portion of our automotive sales are to the Detroit Three automakers and their suppliers.'”
MEDIUMOutside partySupplier
zinc
“10-K Item 1A: 'For certain raw materials, such as, zinc, there are limited suppliers and our purchases are generally at market prices.'”
LOWBuilt-inProduct / Revenue mix
11%
construction
“10-K Item 1A: 'The automotive and construction industries account for approximately 52.0% and 11.0%, respectfully, of our net sales'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-09-06Worthington Steel's concentration risk runs through its raw material mix, end markets, customers, and a specific input category. Hot-rolled steel made up approximately 70% of the roughly 2.44 million tons of steel purchased in fiscal 2025, a high-share structural concentration in a single steel type. On the demand side, the automotive industry accounted for approximately 52% of net sales, a high-share structural exposure, compared with construction at approximately 11%, a low-share structural exposure — together showing the end-market mix is heavily weighted toward one cyclical industry. Customer concentration adds a dependency layer: the top three customers represented approximately 33% of total net sales in fiscal 2025, a medium-share dependency, and a significant portion of automotive sales specifically go to the Detroit Three automakers and their suppliers, another medium-share dependency layered on top of the broader automotive exposure. On the input side, zinc is sourced from limited suppliers, a medium-share dependency for a specific raw material. Netting these out, the automotive weighting and the related Detroit Three customer dependency compound each other — a downturn in North American auto production would hit both the demand mix and the customer base at once.
For the engine’s reasoning on WS’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Steel
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| WS● | Worthington Steel, Inc. | 2 | 3 | 1 | 6 |
| NWPX | NWPX Infrastructure, Inc. | 1 | 1 | 0 | 2 |
| CLF | Cleveland-Cliffs Inc. | 0 | 1 | 0 | 1 |
| MTUS | Metallus Inc. | 0 | 0 | 1 | 1 |
| NUE | Nucor Corporation | 0 | 0 | 0 | 0 |
| RS | Reliance, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.