Recent News
Sep 29, 2025 — Board declared a quarterly cash dividend of $0.165 per Class A share and $0.15 per Class B share, payable mid‑October. Sep 19–23, 2025 — Board adopted Second Amended and Restated Bylaws updating nomination requirements, officer roles, and indemnification provisions. Aug 26, 2025 — Gamco Investors reduced its stake in Ingles. Oct 21, 2025 — Allspring Global Investments increased its reported holding in the company.
Technical Analysis
ADX at 16.75 indicates little established trend strength; that low ADX reduces conviction behind momentum signals and supports a near‑term range bias against the valuation backdrop.
Directional indicators show DI+ at 25.51 with a recorded peak‑and‑reversal and DI‑ at 17.74 with a dip‑and‑reversal; both patterns align toward bearish directional pressure, which increases the risk of price weakness versus the current valuation level.
MACD sits slightly below its signal line (MACD 1.18 vs signal 1.20) and exhibits a peak‑and‑reversal; that combination signals waning bullish momentum and supports a bearish near‑term bias relative to the company’s undervalued status.
MRO registers positive 31.51, indicating price currently sits above the model target and therefore carries downward pressure toward fair value; the magnitude suggests notable force behind that adjustment toward valuation.
RSI at 58.04 with a peak‑and‑reversal points to recently lost upside momentum while remaining below overbought extremes, consistent with consolidation and potential pullback toward support levels that would better align price with WMDST valuation.
Price sits above the 200‑day average ($64.64) and marginally above short‑term averages (20‑day $72.61, 12‑day EMA $72.65) while the 12‑day EMA shows a peak‑and‑reversal; that layout creates a tension between longer‑term bullish bias and short‑term bearish momentum, favoring sideways to modest downside movement near current levels.
Bollinger band positions place price near the upper‑half of the band range (upper 1σ $74.13, lower 1σ $71.09) and volume trails 10/50/200‑day averages, implying weak participation behind recent moves and limited conviction should momentum attempt continuation.
Fundamental Analysis
Revenue reached $1,346,221,519 with net income $26,198,955 and operating income $37,198,425. YoY revenue growth registered -41.081%, while quarter‑over‑quarter revenue growth showed -66.488%; those declines present a meaningful headwind to margin expansion and near‑term earnings leverage.
Gross margin measured 24.315%, up 2.755 percentage points YoY and 4.093 percentage points QoQ, providing some pricing or cost recovery. Operating margin at 2.763% improved 50.245% QoQ but fell -19.281% YoY; EBIT margin at 2.98% rose 62.045% QoQ yet dropped -12.942% YoY. Operating improvements QoQ help support the current WMDST valuation, while YoY deterioration warrants caution.
Return on equity reached 1.644% (ROE QoQ +71.072%, ROE YoY -19.491%), and return on assets 1.037% (QoQ +71.689%, YoY -17.764%), indicating limited profitability against invested capital, though QoQ recovery trends appear constructive relative to recent troughs.
Liquidity presented strong buffers: cash and short‑term investments $336,087,418 with current ratio 3.14 and quick ratio 1.53. Cash conversion cycle at 34.12 days exceeds the industry peer mean of about 4.27 days, indicating a longer working capital cycle versus peers, but ample cash balances mitigate short‑term funding risk.
Leverage remained moderate: total debt $548,154,558, debt‑to‑assets 21.52% (debt‑to‑equity 0.344), and interest coverage ~8.26x. Debt metrics tightened YoY (debt‑to‑assets +30.28% YoY; debt‑to‑equity +29.49% YoY) but coverage stays above the industry peer mean, preserving financial flexibility.
Market multiples show price‑to‑book 0.77, below the industry peer low of 1.10063, and price‑to‑sales 0.912. Free cash flow yield 3.70% sits above the industry peer mean of roughly 0.22%, supporting the WMDST under‑valued stance. Forward P/E equals 52.79, reflecting low forward earnings per share relative to market cap and suggesting elevated multiple risk if earnings fail to recover.
Enterprise multiple registers 20.34, slightly below the industry peer low near 20.61, lending additional context to WMDST’s under‑valued classification while cautioning that multiple compression or earnings weakness could offset that positioning.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-07 |
| NEXT REPORT DATE: | 2025-11-06 |
| CASH FLOW | Begin Period Cash Flow | $ 297.3 M |
| Operating Cash Flow | $ 74.8 M | |
| Capital Expenditures | $ -29.41 M | |
| Change In Working Capital | $ 10.6 M | |
| Dividends Paid | $ -3.07 M | |
| Cash Flow Delta | $ 38.8 M | |
| End Period Cash Flow | $ 336.1 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.3 B | |
| Forward Revenue | $ 286.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.0 B | |
| Depreciation | $ 30.7 M | |
| Depreciation and Amortization | $ 30.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 327.3 M | |
| EBITDA | $ 70.8 M | |
| EBIT | $ 40.1 M | |
| Operating Income | $ 37.2 M | |
| Interest Income | — | |
| Interest Expense | $ 4.9 M | |
| Net Interest Income | $ -4.86 M | |
| Income Before Tax | $ 35.3 M | |
| Tax Provision | $ 9.1 M | |
| Tax Rate | 25.7 % | |
| Net Income | $ 26.2 M | |
| Net Income From Continuing Operations | $ 26.2 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 1.18 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.5 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.6 B | |
| Total Current Assets | $ 947.7 M | |
| Cash and Short-Term Investments | $ 336.1 M | |
| Cash | $ 336.1 M | |
| Net Receivables | $ 102.3 M | |
| Inventory | $ 487.5 M | |
| Long-Term Investments | $ 48.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 189.7 M | |
| Short-Term Debt | $ 17.5 M | |
| Total Current Liabilities | $ 301.4 M | |
| Net Debt | $ 181.9 M | |
| Total Debt | $ 548.2 M | |
| Total Liabilities | $ 953.3 M | |
| EQUITY | ||
| Total Equity | $ 1.6 B | |
| Retained Earnings | $ 1.6 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 83.91 | |
| Shares Outstanding | 18.994 M | |
| Revenue Per-Share | $ 70.87 | |
| VALUATION | Market Capitalization | $ 1.2 B |
| Enterprise Value | $ 1.4 B | |
| Enterprise Multiple | 20.338 | |
| Enterprise Multiple QoQ | -23.115 % | |
| Enterprise Multiple YoY | 48.144 % | |
| Enterprise Multiple IPRWA | high: 80.109 median: 80.109 mean: 75.639 low: 20.614 IMKTA: 20.338 |
|
| EV/R | 1.069 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.598 | |
| Asset To Liability | 2.672 | |
| Debt To Capital | 0.256 | |
| Debt To Assets | 0.215 | |
| Debt To Assets QoQ | -2.479 % | |
| Debt To Assets YoY | 3027.907 % | |
| Debt To Assets IPRWA | high: 0.541 mean: 0.278 median: 0.256 IMKTA: 0.215 low: 0.086 |
|
| Debt To Equity | 0.344 | |
| Debt To Equity QoQ | -2.262 % | |
| Debt To Equity YoY | 2948.936 % | |
| Debt To Equity IPRWA | high: 4.44 mean: 0.978 median: 0.802 IMKTA: 0.344 low: 0.127 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.77 | |
| Price To Book QoQ | 0.785 % | |
| Price To Book YoY | -14.347 % | |
| Price To Book IPRWA | high: 11.097 median: 8.869 mean: 8.568 low: 1.101 IMKTA: 0.77 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | 0.912 | |
| Price To Sales QoQ | 1.065 % | |
| Price To Sales YoY | -9.051 % | |
| Price To Sales IPRWA | high: 6.779 median: 4.488 mean: 4.244 IMKTA: 0.912 low: 0.458 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 52.791 | |
| Forward PE/G | — | |
| Forward P/S | 4.282 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 56.85 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.533 | |
| Asset Turnover Ratio QoQ | 0.045 % | |
| Asset Turnover Ratio YoY | -3.808 % | |
| Asset Turnover Ratio IPRWA | high: 0.935 mean: 0.649 median: 0.633 IMKTA: 0.533 low: 0.358 |
|
| Receivables Turnover | 13.363 | |
| Receivables Turnover Ratio QoQ | 2.343 % | |
| Receivables Turnover Ratio YoY | 0.237 % | |
| Receivables Turnover Ratio IPRWA | high: 33.34 mean: 17.57 median: 16.846 low: 14.894 IMKTA: 13.363 |
|
| Inventory Turnover | 2.082 | |
| Inventory Turnover Ratio QoQ | 0.193 % | |
| Inventory Turnover Ratio YoY | -5.791 % | |
| Inventory Turnover Ratio IPRWA | high: 7.944 mean: 2.394 median: 2.183 low: 2.088 IMKTA: 2.082 |
|
| Days Sales Outstanding (DSO) | 6.828 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 34.116 | |
| Cash Conversion Cycle Days QoQ | -4.346 % | |
| Cash Conversion Cycle Days YoY | 7.179 % | |
| Cash Conversion Cycle Days IPRWA | IMKTA: 34.116 high: 23.297 median: 4.591 mean: 4.269 low: -7.085 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.083 | |
| CapEx To Revenue | -0.022 | |
| CapEx To Depreciation | -0.959 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.1 B | |
| Net Invested Capital | $ 2.1 B | |
| Invested Capital | $ 2.1 B | |
| Net Tangible Assets | $ 1.6 B | |
| Net Working Capital | $ 646.3 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.115 | |
| Current Ratio | 3.144 | |
| Current Ratio QoQ | -1.3 % | |
| Current Ratio YoY | 5.283 % | |
| Current Ratio IPRWA | IMKTA: 3.144 high: 1.209 mean: 0.794 median: 0.78 low: 0.768 |
|
| Quick Ratio | 1.527 | |
| Quick Ratio QoQ | 4.237 % | |
| Quick Ratio YoY | 2.704 % | |
| Quick Ratio IPRWA | IMKTA: 1.527 high: 1.043 mean: 0.243 median: 0.221 low: 0.144 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 7.743 | |
| Cost Of Debt | 0.655 % | |
| Interest Coverage Ratio | 8.26 | |
| Interest Coverage Ratio QoQ | 64.594 % | |
| Interest Coverage Ratio YoY | -7.212 % | |
| Interest Coverage Ratio IPRWA | high: 18.889 median: 10.41 mean: 10.217 IMKTA: 8.26 low: 1.825 |
|
| Operating Cash Flow Ratio | 0.226 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 16.478 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 8.541 | |
| Dividend Payout Ratio | 0.117 | |
| Dividend Rate | $ 0.16 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.625 % | |
| Revenue Growth | 1.123 % | |
| Revenue Growth QoQ | -66.488 % | |
| Revenue Growth YoY | -41.081 % | |
| Revenue Growth IPRWA | high: 32.348 % IMKTA: 1.123 % mean: -5.313 % low: -8.277 % median: -8.277 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 24.315 % | |
| Gross Margin QoQ | 4.093 % | |
| Gross Margin YoY | 2.755 % | |
| Gross Margin IPRWA | high: 38.845 % mean: 25.047 % median: 24.942 % IMKTA: 24.315 % low: 18.813 % |
|
| EBIT Margin | 2.98 % | |
| EBIT Margin QoQ | 62.045 % | |
| EBIT Margin YoY | -12.942 % | |
| EBIT Margin IPRWA | high: 4.004 % median: 4.004 % mean: 3.903 % IMKTA: 2.98 % low: 1.168 % |
|
| Return On Sales (ROS) | 2.763 % | |
| Return On Sales QoQ | 50.245 % | |
| Return On Sales YoY | -19.281 % | |
| Return On Sales IPRWA | high: 4.004 % median: 4.004 % mean: 3.902 % IMKTA: 2.763 % low: 1.678 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 45.4 M | |
| Free Cash Flow Yield | 3.696 % | |
| Free Cash Flow Yield QoQ | 14.25 % | |
| Free Cash Flow Yield YoY | -11.895 % | |
| Free Cash Flow Yield IPRWA | IMKTA: 3.696 % high: 2.494 % mean: 0.218 % median: 0.057 % low: -2.002 % |
|
| Free Cash Growth | 16.776 % | |
| Free Cash Growth QoQ | -111.356 % | |
| Free Cash Growth YoY | -74.634 % | |
| Free Cash Growth IPRWA | high: 112.5 % IMKTA: 16.776 % mean: -80.773 % median: -93.399 % low: -232.971 % |
|
| Free Cash To Net Income | 1.732 | |
| Cash Flow Margin | 5.07 % | |
| Cash Flow To Earnings | 2.605 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.037 % | |
| Return On Assets QoQ | 71.689 % | |
| Return On Assets YoY | -17.764 % | |
| Return On Assets IPRWA | high: 3.555 % mean: 1.735 % median: 1.715 % IMKTA: 1.037 % low: 0.15 % |
|
| Return On Capital Employed (ROCE) | 1.786 % | |
| Return On Equity (ROE) | 0.016 | |
| Return On Equity QoQ | 71.072 % | |
| Return On Equity YoY | -19.491 % | |
| Return On Equity IPRWA | high: 0.099 mean: 0.057 median: 0.054 IMKTA: 0.016 low: 0.004 |
|
| DuPont ROE | 1.655 % | |
| Return On Invested Capital (ROIC) | 1.411 % | |
| Return On Invested Capital QoQ | 56.604 % | |
| Return On Invested Capital YoY | -113.318 % | |
| Return On Invested Capital IPRWA | high: 9.877 % mean: 4.082 % median: 3.948 % IMKTA: 1.411 % low: 0.661 % |
|