Recent News
On July 28, 2025 the company announced the resignation of board member Kevin W. Williams, effective August 1, 2025. On October 16, 2025 the company amended and extended its $575 million senior secured revolving credit facility, improving operational flexibility and extending maturity.
Technical Analysis
Directional indicators present conflicting signals: DI+ registered at 24.05 with a peak-and-reverse pattern, which indicates bearish pressure from weakening positive directional movement, while DI- at 18.17 showed a dip-and-reverse pattern that also points toward increased negative directional influence. ADX at 15.28 signals no established trend, which limits conviction that directional readings will produce a sustained move.
Momentum measures split the picture. MACD sits at 0.62 and trades above its 0.45 signal line with an increasing trend, signaling bullish momentum and the potential for further upside attempts over days to weeks. At the same time MRO registers 29.42 with a peak-and-reversal pattern, indicating the price currently sits above the model target and exposing the stock to pullback risk from a technical topping process.
Price sits above short, medium and long-term averages: the 12-day EMA at 78.97 and the 20-day average at 78.93 sit below the close of $79.75, while the 50-day average at 77.21 and the 200-day average at 72.31 also sit well under price, supporting a bullish bias for trend-following participants. Bollinger bands place the upper 1x band at 80.67; the close near that band suggests limited immediate upside breadth without a volatility expansion.
RSI reads 51.87 and trends higher, indicating neutral-to-positive momentum without overbought conditions. Volume at 107,600 tracks the 10-day average, offering no strong volume confirmation for recent price moves. Short-term volatility shows elevated beta (42-day 1.53), implying price moves could amplify on incoming news or macro shifts.
Fundamental Analysis
Total revenue reached $823.1M. YoY revenue growth measured 20.77%, while the trailing revenue growth rate registered 5.88%, reflecting recent sequential improvement in top-line activity. Gross profit reached $100.3M, producing a gross margin of 12.19%.
- Profitability: EBIT of $42.4M produces an EBIT margin of 5.15%, up 165.65% year-over-year and up 0.12 percentage points QoQ, but that margin sits well below the industry peer mean of 31.49% and the industry peer median of 31.54%.
- Earnings: Reported EPS came in at $1.21 versus an estimate of $0.76, an EPS surprise of 59.21% (difference $0.45). Forward EPS stood at $1.3625 with a forward P/E of 52.56x.
- Cash Flow: Free cash flow registered negative $27.7M and a free cash flow yield of -2.20%, while operating cash flow equaled $15.9M. The cash conversion cycle ran 78.2 days, slightly above the industry peer mean of 73.11 days, indicating marginally slower working-capital conversion versus peers.
- Balance Sheet and Leverage: Total debt reached $1,106.3M with net debt about $1,062.1M. Debt-to-equity stands at 142.56%, markedly above the industry peer mean of 24.60%, and debt-to-assets at 44.03%. Interest coverage measured 3.39x.
- Returns and Efficiency: Return on equity measured 2.99%, below the industry peer mean of 3.93%. Asset turnover sits at 0.33, above the industry peer mean of 0.1517, reflecting relatively efficient asset utilization despite lower margin levels.
- Valuation: Trailing P/E registered 64.44x with price-to-book 1.63x (below the industry peer mean of 3.10x). Enterprise multiple measured 32.70x. The current valuation, as determined by WMDST, values the stock as over-valued.
Summary: profitability gains and an EPS beat support the improved earnings narrative, but negative free cash flow and elevated leverage contrast with modest margins. The leverage profile and cash-flow shortfall create fundamental limits to re-rating, which underpins WMDST’s over-valued conclusion despite short-term earnings strength.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-23 |
| NEXT REPORT DATE: | 2025-10-22 |
| CASH FLOW | Begin Period Cash Flow | $ 41.3 M |
| Operating Cash Flow | $ 15.9 M | |
| Capital Expenditures | $ -43.60 M | |
| Change In Working Capital | $ -50.50 M | |
| Dividends Paid | $ -12.80 M | |
| Cash Flow Delta | $ -8.40 M | |
| End Period Cash Flow | $ 32.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 823.1 M | |
| Forward Revenue | $ 195.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 722.8 M | |
| Depreciation | $ 28.4 M | |
| Depreciation and Amortization | $ 29.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 785.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 100.3 M | |
| EBITDA | $ 72.0 M | |
| EBIT | $ 42.4 M | |
| Operating Income | $ 38.1 M | |
| Interest Income | $ 200.0 K | |
| Interest Expense | $ 12.5 M | |
| Net Interest Income | $ -12.30 M | |
| Income Before Tax | $ 29.9 M | |
| Tax Provision | $ 6.7 M | |
| Tax Rate | 22.0 % | |
| Net Income | $ 23.2 M | |
| Net Income From Continuing Operations | $ 23.2 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.76 | |
| EPS Actual | $ 1.21 | |
| EPS Difference | $ 0.45 | |
| EPS Surprise | 59.211 % | |
| Forward EPS | $ 1.36 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.5 B | |
| Intangible Assets | $ 62.0 M | |
| Net Tangible Assets | $ 714.0 M | |
| Total Current Assets | $ 1.2 B | |
| Cash and Short-Term Investments | $ 13.1 M | |
| Cash | $ 13.1 M | |
| Net Receivables | $ 378.7 M | |
| Inventory | $ 595.6 M | |
| Long-Term Investments | $ 68.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 317.8 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 426.2 M | |
| Net Debt | $ 1.1 B | |
| Total Debt | $ 1.1 B | |
| Total Liabilities | $ 1.7 B | |
| EQUITY | ||
| Total Equity | $ 776.0 M | |
| Retained Earnings | $ 100.4 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 47.97 | |
| Shares Outstanding | 16.178 M | |
| Revenue Per-Share | $ 50.88 | |
| VALUATION | Market Capitalization | $ 1.3 B |
| Enterprise Value | $ 2.4 B | |
| Enterprise Multiple | 32.704 | |
| Enterprise Multiple QoQ | 10.457 % | |
| Enterprise Multiple YoY | 6.539 % | |
| Enterprise Multiple IPRWA | high: 194.158 mean: 51.156 KALU: 32.704 median: 23.701 low: -189.617 |
|
| EV/R | 2.861 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.238 | |
| Asset To Liability | 1.447 | |
| Debt To Capital | 0.588 | |
| Debt To Assets | 0.44 | |
| Debt To Assets QoQ | 0.016 % | |
| Debt To Assets YoY | 10407.637 % | |
| Debt To Assets IPRWA | high: 0.485 KALU: 0.44 median: 0.138 mean: 0.137 low: 0.0 |
|
| Debt To Equity | 1.426 | |
| Debt To Equity QoQ | 0.468 % | |
| Debt To Equity YoY | 9631.331 % | |
| Debt To Equity IPRWA | KALU: 1.426 high: 1.084 mean: 0.246 median: 0.237 low: 0.0 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.626 | |
| Price To Book QoQ | 20.622 % | |
| Price To Book YoY | -24.244 % | |
| Price To Book IPRWA | high: 12.847 mean: 3.102 median: 2.798 KALU: 1.626 low: 0.467 |
|
| Price To Earnings (P/E) | 64.444 | |
| Price To Earnings QoQ | 46.979 % | |
| Price To Earnings YoY | -52.564 % | |
| Price To Earnings IPRWA | high: 199.465 KALU: 64.444 mean: 40.546 median: 36.378 low: -190.951 |
|
| PE/G Ratio | -4.035 | |
| Price To Sales (P/S) | 1.533 | |
| Price To Sales QoQ | 16.815 % | |
| Price To Sales YoY | -16.56 % | |
| Price To Sales IPRWA | high: 25.697 median: 13.165 mean: 12.262 KALU: 1.533 low: 0.608 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 52.557 | |
| Forward PE/G | -3.291 | |
| Forward P/S | 6.452 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.021 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.332 | |
| Asset Turnover Ratio QoQ | 1.645 % | |
| Asset Turnover Ratio YoY | -0.815 % | |
| Asset Turnover Ratio IPRWA | high: 0.462 KALU: 0.332 median: 0.154 mean: 0.152 low: 0.005 |
|
| Receivables Turnover | 2.267 | |
| Receivables Turnover Ratio QoQ | -2.725 % | |
| Receivables Turnover Ratio YoY | 4.286 % | |
| Receivables Turnover Ratio IPRWA | high: 30.072 median: 6.082 mean: 5.41 KALU: 2.267 low: 1.305 |
|
| Inventory Turnover | 1.238 | |
| Inventory Turnover Ratio QoQ | -1.091 % | |
| Inventory Turnover Ratio YoY | -17.71 % | |
| Inventory Turnover Ratio IPRWA | high: 2.589 KALU: 1.238 median: 1.152 mean: 1.076 low: 0.34 |
|
| Days Sales Outstanding (DSO) | 40.248 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 78.224 | |
| Cash Conversion Cycle Days QoQ | 6.108 % | |
| Cash Conversion Cycle Days YoY | 15.534 % | |
| Cash Conversion Cycle Days IPRWA | high: 126.513 KALU: 78.224 mean: 73.114 median: 64.45 low: -49.475 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.136 | |
| CapEx To Revenue | -0.053 | |
| CapEx To Depreciation | -1.535 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.9 B | |
| Net Invested Capital | $ 1.9 B | |
| Invested Capital | $ 1.9 B | |
| Net Tangible Assets | $ 714.0 M | |
| Net Working Capital | $ 724.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.031 | |
| Current Ratio | 2.7 | |
| Current Ratio QoQ | 1.195 % | |
| Current Ratio YoY | 5.903 % | |
| Current Ratio IPRWA | high: 16.134 mean: 2.705 KALU: 2.7 median: 2.681 low: 0.014 |
|
| Quick Ratio | 1.302 | |
| Quick Ratio QoQ | 2.398 % | |
| Quick Ratio YoY | -8.411 % | |
| Quick Ratio IPRWA | high: 2.842 median: 1.585 mean: 1.583 KALU: 1.302 low: 0.525 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 15.365 | |
| Cost Of Debt | 0.89 % | |
| Interest Coverage Ratio | 3.392 | |
| Interest Coverage Ratio QoQ | -5.024 % | |
| Interest Coverage Ratio YoY | 151.008 % | |
| Interest Coverage Ratio IPRWA | high: 65.805 mean: 23.752 median: 18.382 KALU: 3.392 low: -124.147 |
|
| Operating Cash Flow Ratio | 0.062 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 41.16 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.812 | |
| Dividend Payout Ratio | 0.552 | |
| Dividend Rate | $ 0.79 | |
| Dividend Yield | 0.01 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 3.0 % | |
| Revenue Growth | 5.879 % | |
| Revenue Growth QoQ | 274.936 % | |
| Revenue Growth YoY | 20.768 % | |
| Revenue Growth IPRWA | high: 87.493 % mean: 12.011 % median: 6.128 % KALU: 5.879 % low: -50.608 % |
|
| Earnings Growth | -15.972 % | |
| Earnings Growth QoQ | -104.748 % | |
| Earnings Growth YoY | -55.97 % | |
| Earnings Growth IPRWA | high: 425.0 % mean: 88.37 % median: 46.667 % KALU: -15.972 % low: -166.667 % |
|
| MARGINS | ||
| Gross Margin | 12.186 % | |
| Gross Margin QoQ | -8.91 % | |
| Gross Margin YoY | 13.686 % | |
| Gross Margin IPRWA | high: 82.056 % median: 42.607 % mean: 35.341 % KALU: 12.186 % low: -39.531 % |
|
| EBIT Margin | 5.151 % | |
| EBIT Margin QoQ | 0.117 % | |
| EBIT Margin YoY | 165.652 % | |
| EBIT Margin IPRWA | high: 59.865 % median: 31.537 % mean: 31.488 % KALU: 5.151 % low: -119.363 % |
|
| Return On Sales (ROS) | 4.629 % | |
| Return On Sales QoQ | -10.029 % | |
| Return On Sales YoY | 138.731 % | |
| Return On Sales IPRWA | high: 49.338 % median: 40.859 % mean: 27.58 % KALU: 4.629 % low: -67.951 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -27.70 M | |
| Free Cash Flow Yield | -2.196 % | |
| Free Cash Flow Yield QoQ | -219.154 % | |
| Free Cash Flow Yield YoY | 79.265 % | |
| Free Cash Flow Yield IPRWA | high: 3.837 % mean: 1.168 % median: 1.003 % KALU: -2.196 % low: -6.393 % |
|
| Free Cash Growth | -247.34 % | |
| Free Cash Growth QoQ | -0.749 % | |
| Free Cash Growth YoY | 62.454 % | |
| Free Cash Growth IPRWA | high: 284.532 % median: 41.909 % mean: -49.105 % KALU: -247.34 % low: -451.584 % |
|
| Free Cash To Net Income | -1.194 | |
| Cash Flow Margin | 3.207 % | |
| Cash Flow To Earnings | 1.138 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.937 % | |
| Return On Assets QoQ | 3.08 % | |
| Return On Assets YoY | 599.254 % | |
| Return On Assets IPRWA | high: 5.442 % median: 2.623 % mean: 2.236 % KALU: 0.937 % low: -25.167 % |
|
| Return On Capital Employed (ROCE) | 2.032 % | |
| Return On Equity (ROE) | 0.03 | |
| Return On Equity QoQ | 4.765 % | |
| Return On Equity YoY | 538.889 % | |
| Return On Equity IPRWA | high: 0.133 median: 0.042 mean: 0.039 KALU: 0.03 low: -0.328 |
|
| DuPont ROE | 3.028 % | |
| Return On Invested Capital (ROIC) | 1.777 % | |
| Return On Invested Capital QoQ | 6.535 % | |
| Return On Invested Capital YoY | -109.103 % | |
| Return On Invested Capital IPRWA | high: 10.141 % mean: 3.988 % median: 3.984 % KALU: 1.777 % low: -12.344 % |
|