Technical Analysis
Directional indicators (ADX/DI+/DI-): ADX at 24.46 signals an emerging trend strength; DI+ at 21.61 trending higher and DI- at 24.83 trending lower combine to bias price action toward the upside over the immediate term because directional indicators show improving bullish participation.
MACD: MACD sits at -$0.27 while the MACD signal line reads -$0.61; the MACD has crossed above its signal line, which signals bullish momentum amplification despite the indicator remaining below zero.
MRO (Momentum/Regression Oscillator): MRO at 5.33, rising, places price above the model target and therefore creates a potential headwind for further advances since the oscillator implies mean-reversion pressure from current levels.
RSI: RSI at 40.58 and rising indicates improving buying pressure without overbought conditions, supporting a controlled recovery rather than an extended breakout at this stage.
Price vs Moving Averages and Bands: Price closed at $16.90, above the 20‑day average of $16.22 and above the 12‑day EMA of $16.46 (both rising), yet below the 50‑day average of $17.67 and the 200‑day average of $19.74; this configuration favors a short-term bullish bias while longer-term averages cap upside. Price sits marginally above the 1× Bollinger upper band ($16.89), signaling short-term strength but limited room before volatility-based resistance near $17.56 (upper 2× band).
Volume, Support, Volatility: Daily volume at 5,520,800 exceeds the 10‑day average of 2,483,830, which reinforces the recent directional move. SuperTrend lower support sits at $15.81. Beta measures show 42‑day beta 0.80 and 52‑week beta 1.16, suggesting recent moves carry less intraday sensitivity than longer‑term market swings.
Fundamental Analysis
Profitability: EBIT of $327,393,000 and EBITDA of $485,772,000 translate into an EBIT margin of 69.62%, which sits above the industry peer mean and industry peer median for EBIT margin. Operating margin of 19.02% and return on sales of 19.02% support operating efficiency despite top‑line pressure.
Earnings and Cash Flow: Reported EPS came in at $0.44 versus an estimate of $0.08, an EPS surprise of +450% (actual $0.44, estimate $0.08). Operating cash flow reached $347,564,000 while free cash flow totaled $3,498,000, yielding a free cash flow yield of 0.062%, which falls below the industry peer mean free cash flow yield. Cash conversion dynamics appear stretched given a cash conversion ratio of -98.141% and free cash flow growth showing large negative QoQ movement.
Liquidity and Leverage: Cash balance stands at $25,859,000 against total current liabilities of $748,147,000, producing a current ratio of 0.36—well under the industry peer mean and median current ratio and signaling constrained short‑term liquidity. Total debt equals $3,109,469,000 with net debt at $2,992,150,000 and debt‑to‑equity at 1.39x; interest coverage measures 5.93x, below the industry peer mean, indicating limited cushion if operating income weakens.
Growth & Efficiency: Total revenue reached $470,262,000 while YoY revenue growth registered -8.31% and QoQ movement showed further contraction; asset turnover equals 0.07074 and sits slightly below the industry peer mean, though asset turnover YoY improved markedly. Return on equity at 5.56% sits above the industry peer mean for ROE, while return on assets at 1.88% remains below the peer mean.
Valuation: Price multiples show a P/E of 52.44, which sits slightly below the industry peer mean P/E and slightly above the industry peer median P/E; P/B at 2.52 sits above the industry peer mean and median. Enterprise value multiples place EV/EBIT at about 18.59 and enterprise multiple at 17.99. WMDST values the stock as over‑valued, reflecting stretched multiples relative to operating cash conversion and liquidity metrics.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-30 |
| NEXT REPORT DATE: | 2025-10-29 |
| CASH FLOW | Begin Period Cash Flow | $ 32.9 M |
| Operating Cash Flow | $ 347.6 M | |
| Capital Expenditures | $ -344.07 M | |
| Change In Working Capital | $ 137.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -7.02 M | |
| End Period Cash Flow | $ 25.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 470.3 M | |
| Forward Revenue | $ 30.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 368.5 M | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | $ 380.8 M | |
| PROFITABILITY | ||
| Gross Profit | $ 101.7 M | |
| EBITDA | $ 485.8 M | |
| EBIT | $ 327.4 M | |
| Operating Income | $ 89.4 M | |
| Interest Income | — | |
| Interest Expense | $ 55.2 M | |
| Net Interest Income | $ -55.18 M | |
| Income Before Tax | $ 272.2 M | |
| Tax Provision | $ 141.5 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 124.8 M | |
| Net Income From Continuing Operations | $ 130.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.08 | |
| EPS Actual | $ 0.44 | |
| EPS Difference | $ 0.36 | |
| EPS Surprise | 450.0 % | |
| Forward EPS | $ 0.11 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 6.7 B | |
| Intangible Assets | $ 335.9 M | |
| Net Tangible Assets | $ 1.9 B | |
| Total Current Assets | $ 269.0 M | |
| Cash and Short-Term Investments | $ 25.9 M | |
| Cash | $ 25.9 M | |
| Net Receivables | $ 173.5 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 460.1 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 748.1 M | |
| Net Debt | $ 3.0 B | |
| Total Debt | $ 3.1 B | |
| Total Liabilities | $ 4.3 B | |
| EQUITY | ||
| Total Equity | $ 2.2 B | |
| Retained Earnings | $ 732.2 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 7.66 | |
| Shares Outstanding | 293.069 M | |
| Revenue Per-Share | $ 1.61 | |
| VALUATION | Market Capitalization | $ 5.7 B |
| Enterprise Value | $ 8.7 B | |
| Enterprise Multiple | 17.994 | |
| Enterprise Multiple QoQ | -107.537 % | |
| Enterprise Multiple YoY | -55.072 % | |
| Enterprise Multiple IPRWA | high: 116.188 mean: 28.889 median: 22.553 CRK: 17.994 low: -238.66 |
|
| EV/R | 18.588 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.984 | |
| Asset To Liability | 1.572 | |
| Debt To Capital | 0.581 | |
| Debt To Assets | 0.464 | |
| Debt To Assets QoQ | -2.725 % | |
| Debt To Assets YoY | 7464.495 % | |
| Debt To Assets IPRWA | high: 0.47 CRK: 0.464 mean: 0.141 median: 0.099 low: 0.003 |
|
| Debt To Equity | 1.386 | |
| Debt To Equity QoQ | -6.718 % | |
| Debt To Equity YoY | 8179.211 % | |
| Debt To Equity IPRWA | CRK: 1.386 high: 1.237 mean: 0.249 median: 0.157 low: -0.274 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.522 | |
| Price To Book QoQ | -2.043 % | |
| Price To Book YoY | 91.391 % | |
| Price To Book IPRWA | high: 40.027 CRK: 2.522 median: 2.223 mean: 2.044 low: -0.64 |
|
| Price To Earnings (P/E) | 52.443 | |
| Price To Earnings QoQ | -49.369 % | |
| Price To Earnings YoY | -200.272 % | |
| Price To Earnings IPRWA | high: 105.894 mean: 55.22 CRK: 52.443 median: 50.88 low: 8.944 |
|
| PE/G Ratio | 0.363 | |
| Price To Sales (P/S) | 12.03 | |
| Price To Sales QoQ | 12.977 % | |
| Price To Sales YoY | -2.866 % | |
| Price To Sales IPRWA | high: 47.131 median: 12.14 CRK: 12.03 mean: 11.37 low: 1.605 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 214.413 | |
| Forward PE/G | 1.484 | |
| Forward P/S | 186.45 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 31.381 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.071 | |
| Asset Turnover Ratio QoQ | -10.456 % | |
| Asset Turnover Ratio YoY | 81.152 % | |
| Asset Turnover Ratio IPRWA | high: 0.179 median: 0.115 mean: 0.108 CRK: 0.071 low: 0.002 |
|
| Receivables Turnover | 2.462 | |
| Receivables Turnover Ratio QoQ | -7.988 % | |
| Receivables Turnover Ratio YoY | 43.232 % | |
| Receivables Turnover Ratio IPRWA | high: 2.676 CRK: 2.462 median: 2.09 mean: 1.971 low: 1.041 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 37.065 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -0.981 | |
| CapEx To Revenue | -0.732 | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 5.3 B | |
| Net Invested Capital | $ 5.3 B | |
| Invested Capital | $ 5.3 B | |
| Net Tangible Assets | $ 1.9 B | |
| Net Working Capital | $ -479.17 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.035 | |
| Current Ratio | 0.36 | |
| Current Ratio QoQ | -8.989 % | |
| Current Ratio YoY | -38.604 % | |
| Current Ratio IPRWA | high: 6.346 median: 1.786 mean: 1.502 CRK: 0.36 low: 0.065 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.401 | |
| Cost Of Debt | 1.392 % | |
| Interest Coverage Ratio | 5.933 | |
| Interest Coverage Ratio QoQ | -259.627 % | |
| Interest Coverage Ratio YoY | -362.413 % | |
| Interest Coverage Ratio IPRWA | high: 126.768 median: 35.333 mean: 26.658 CRK: 5.933 low: -50.859 |
|
| Operating Cash Flow Ratio | 0.249 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 109.202 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.414 % | |
| Revenue Growth | -8.305 % | |
| Revenue Growth QoQ | -120.798 % | |
| Revenue Growth YoY | -68.647 % | |
| Revenue Growth IPRWA | high: 12.94 % CRK: -8.305 % median: -8.336 % mean: -9.063 % low: -36.994 % |
|
| Earnings Growth | 144.444 % | |
| Earnings Growth QoQ | 1055.552 % | |
| Earnings Growth YoY | -74.51 % | |
| Earnings Growth IPRWA | CRK: 144.444 % high: 61.989 % median: -19.164 % mean: -23.748 % low: -55.693 % |
|
| MARGINS | ||
| Gross Margin | 21.636 % | |
| Gross Margin QoQ | -20.4 % | |
| Gross Margin YoY | -164.878 % | |
| Gross Margin IPRWA | high: 80.13 % median: 64.444 % mean: 54.098 % CRK: 21.636 % low: 14.551 % |
|
| EBIT Margin | 69.619 % | |
| EBIT Margin QoQ | -275.164 % | |
| EBIT Margin YoY | -246.344 % | |
| EBIT Margin IPRWA | high: 114.608 % CRK: 69.619 % median: 33.651 % mean: 30.968 % low: -68.326 % |
|
| Return On Sales (ROS) | 19.02 % | |
| Return On Sales QoQ | -147.855 % | |
| Return On Sales YoY | -139.982 % | |
| Return On Sales IPRWA | high: 93.565 % median: 31.354 % mean: 29.175 % CRK: 19.02 % low: 4.668 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 3.5 M | |
| Free Cash Flow Yield | 0.062 % | |
| Free Cash Flow Yield QoQ | -102.741 % | |
| Free Cash Flow Yield YoY | -101.238 % | |
| Free Cash Flow Yield IPRWA | high: 7.604 % mean: 1.014 % median: 0.368 % CRK: 0.062 % low: -7.353 % |
|
| Free Cash Growth | -102.832 % | |
| Free Cash Growth QoQ | -111.991 % | |
| Free Cash Growth YoY | 591.215 % | |
| Free Cash Growth IPRWA | high: 28.866 % mean: -59.366 % median: -70.347 % CRK: -102.832 % low: -165.003 % |
|
| Free Cash To Net Income | 0.028 | |
| Cash Flow Margin | 39.57 % | |
| Cash Flow To Earnings | 1.491 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.878 % | |
| Return On Assets QoQ | -200.535 % | |
| Return On Assets YoY | -193.994 % | |
| Return On Assets IPRWA | high: 22.476 % median: 2.884 % mean: 2.365 % CRK: 1.878 % low: -11.591 % |
|
| Return On Capital Employed (ROCE) | 5.505 % | |
| Return On Equity (ROE) | 0.056 | |
| Return On Equity QoQ | -197.324 % | |
| Return On Equity YoY | -202.204 % | |
| Return On Equity IPRWA | high: 0.39 CRK: 0.056 median: 0.046 mean: 0.036 low: -0.277 |
|
| DuPont ROE | 5.72 % | |
| Return On Invested Capital (ROIC) | 4.916 % | |
| Return On Invested Capital QoQ | -307.865 % | |
| Return On Invested Capital YoY | -101.126 % | |
| Return On Invested Capital IPRWA | high: 8.04 % CRK: 4.916 % median: 4.145 % mean: 3.474 % low: -9.134 % |
|