Recent News
On October 17, 2025 the International Maritime Organization delayed adoption of a global carbon-pricing mechanism for international shipping by one year, a development that industry coverage linked to short-term regulatory relief for tanker operators including Teekay Tankers.
Technical Analysis
ADX at 24.57 indicates an emerging trend strength; the metric points to a trend developing rather than an established strong directional move.
DI+ stands at 22.26 and decreasing, a bearish signal for directional bias; DI- sits at 17.82 and increasing, which reinforces downside pressure on near-term price movement.
MACD registers 0.96 while the MACD signal reads 1.65 and MACD trend shows decreasing momentum; MACD currently sits below its signal line, indicating bearish momentum in the short run.
MRO came in positive at 29.25 with a decreasing trajectory; the positive MRO implies price above WMDST’s target, increasing likelihood of a correction toward fair-value levels.
RSI at 57.54 and decreasing indicates fading near-term buying momentum without an overbought reading; that level supports a consolidation or pullback scenario rather than an immediate reversal.
The 12-day EMA shows a peak-and-reversal pattern, which aligns with short-term exhaustion in the recent advance. Price closed at $57.67, below the 20-day average of $61.02 but above the 50-day average of $56.36 and the 200-day average of $46.11, implying short-term weakness inside a longer-term supportive band.
Fundamental Analysis
Operating profitability displays strength: EBIT reached $90,537,000 and EBITDA totaled $111,469,000, producing an EBIT margin of 39.53%. That margin exceeds the industry peer mean of 14.93% and the industry peer median of 13.23%, indicating above-peer operating efficiency. QoQ improvement in EBIT margin measured 46.21% and YoY improvement measured 62.84%, underscoring accelerating operating leverage.
Net income stood at $92,079,000 with operating cash flow at $74,873,000. Cash on hand totaled $764,670,000 and cash plus short-term investments reached $796,973,000, delivering an elevated cash ratio of 6.91 and a current ratio of 8.78—liquidity metrics that signal large short-term coverage for liabilities.
Leverage remained minimal: total debt $43,347,000 produced a debt-to-assets ratio of 2.05% and debt-to-equity of 2.24%, while interest expense stayed low and interest coverage reached 114.75x, indicating substantial capacity to service debt.
Revenue totaled $229,023,000 while reported revenue growth registered -1.65% (overall) and revenue growth QoQ showed -4.11%; revenue growth YoY registered -90.82%. Free cash flow registered a negative $53,319,000 and free cash flow yield read -3.03%; however free cash growth metrics showed positive QoQ and YoY momentum per the supplied measures. Operating margin measured 19.00% and gross margin 23.87%.
Earnings per share arrived at $1.54 against an estimate of $1.46, producing an EPS surprise of 5.48%. Trailing PE reached 33.05 while forward PE stood at 17.33 with forward EPS projected at $2.7975, a divergence that reflects higher forward earnings expectations embedded by the market. Price-to-book measured 0.91 and price-to-sales measured 7.68.
Dividend dynamics present steady income support: the company declared a fixed cash dividend of $0.25 per share for the quarter ended September 30, 2025, payable November 21, 2025, with a dividend payout ratio of 9.38% and dividend coverage of 10.66x, indicating conservative payout relative to earnings and available cash.
WMDST values the stock as over-valued. Key valuation signals include a trailing PE of 33.05 versus a forward PE of 17.33 and a negative free cash flow position; those elements, combined with a high cash balance and low leverage, create a tradeoff between balance-sheet strength and stretched market multiples.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-29 |
| NEXT REPORT DATE: | 2026-01-28 |
| CASH FLOW | Begin Period Cash Flow | $ 650.9 M |
| Operating Cash Flow | $ 74.9 M | |
| Capital Expenditures | $ -128.19 M | |
| Change In Working Capital | $ 11.9 M | |
| Dividends Paid | $ -8.63 M | |
| Cash Flow Delta | $ 114.6 M | |
| End Period Cash Flow | $ 765.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 229.0 M | |
| Forward Revenue | $ 60.1 M | |
| COSTS | ||
| Cost Of Revenue | $ 174.4 M | |
| Depreciation | $ 20.9 M | |
| Depreciation and Amortization | $ 20.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 185.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 54.7 M | |
| EBITDA | $ 111.5 M | |
| EBIT | $ 90.5 M | |
| Operating Income | $ 43.5 M | |
| Interest Income | $ 7.6 M | |
| Interest Expense | $ 789.0 K | |
| Net Interest Income | $ 6.8 M | |
| Income Before Tax | $ 89.7 M | |
| Tax Provision | $ -2.33 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 92.1 M | |
| Net Income From Continuing Operations | $ 92.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.46 | |
| EPS Actual | $ 1.54 | |
| EPS Difference | $ 0.08 | |
| EPS Surprise | 5.479 % | |
| Forward EPS | $ 2.80 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.1 B | |
| Intangible Assets | $ 69.0 K | |
| Net Tangible Assets | $ 1.9 B | |
| Total Current Assets | $ 1.0 B | |
| Cash and Short-Term Investments | $ 797.0 M | |
| Cash | $ 764.7 M | |
| Net Receivables | $ 68.3 M | |
| Inventory | $ 36.1 M | |
| Long-Term Investments | $ 24.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 19.1 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 115.3 M | |
| Net Debt | — | |
| Total Debt | $ 43.3 M | |
| Total Liabilities | $ 181.9 M | |
| EQUITY | ||
| Total Equity | $ 1.9 B | |
| Retained Earnings | $ 617.2 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 55.92 | |
| Shares Outstanding | 34.539 M | |
| Revenue Per-Share | $ 6.63 | |
| VALUATION | Market Capitalization | $ 1.8 B |
| Enterprise Value | $ 1.0 B | |
| Enterprise Multiple | 9.009 | |
| Enterprise Multiple QoQ | -11.475 % | |
| Enterprise Multiple YoY | -50.555 % | |
| Enterprise Multiple IPRWA | high: 63.145 mean: 30.761 median: 28.677 TNK: 9.009 low: -30.741 |
|
| EV/R | 4.385 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.094 | |
| Asset To Liability | 11.616 | |
| Debt To Capital | 0.022 | |
| Debt To Assets | 0.021 | |
| Debt To Assets QoQ | 3.901 % | |
| Debt To Assets YoY | 42.134 % | |
| Debt To Assets IPRWA | high: 0.585 mean: 0.225 median: 0.202 TNK: 0.021 low: 0.002 |
|
| Debt To Equity | 0.022 | |
| Debt To Equity QoQ | 1.954 % | |
| Debt To Equity YoY | 41.667 % | |
| Debt To Equity IPRWA | high: 1.777 mean: 0.695 median: 0.427 TNK: 0.022 low: 0.002 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.91 | |
| Price To Book QoQ | 8.906 % | |
| Price To Book YoY | -18.066 % | |
| Price To Book IPRWA | high: 5.433 median: 1.736 mean: 1.507 TNK: 0.91 low: -1.698 |
|
| Price To Earnings (P/E) | 33.048 | |
| Price To Earnings QoQ | 6.62 % | |
| Price To Earnings YoY | 7.777 % | |
| Price To Earnings IPRWA | high: 161.846 median: 59.729 mean: 56.285 TNK: 33.048 low: -72.568 |
|
| PE/G Ratio | 3.584 | |
| Price To Sales (P/S) | 7.675 | |
| Price To Sales QoQ | 15.766 % | |
| Price To Sales YoY | -3.671 % | |
| Price To Sales IPRWA | high: 41.067 TNK: 7.675 median: 6.142 mean: 5.856 low: 0.013 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 17.33 | |
| Forward PE/G | 1.88 | |
| Forward P/S | 29.258 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -26.542 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.11 | |
| Asset Turnover Ratio QoQ | -3.77 % | |
| Asset Turnover Ratio YoY | -14.343 % | |
| Asset Turnover Ratio IPRWA | high: 0.454 median: 0.171 mean: 0.158 TNK: 0.11 low: 0.001 |
|
| Receivables Turnover | 2.895 | |
| Receivables Turnover Ratio QoQ | 12.797 % | |
| Receivables Turnover Ratio YoY | 3.981 % | |
| Receivables Turnover Ratio IPRWA | high: 6.116 TNK: 2.895 mean: 2.131 median: 1.996 low: 0.185 |
|
| Inventory Turnover | 4.979 | |
| Inventory Turnover Ratio QoQ | 4.511 % | |
| Inventory Turnover Ratio YoY | 36.224 % | |
| Inventory Turnover Ratio IPRWA | high: 19.661 TNK: 4.979 mean: 2.963 median: 2.449 low: 0.169 |
|
| Days Sales Outstanding (DSO) | 31.525 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 38.947 | |
| Cash Conversion Cycle Days QoQ | 101.687 % | |
| Cash Conversion Cycle Days YoY | -12.229 % | |
| Cash Conversion Cycle Days IPRWA | high: 84.701 TNK: 38.947 median: 1.08 mean: -1.556 low: -100.341 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.255 | |
| CapEx To Revenue | -0.56 | |
| CapEx To Depreciation | -6.124 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.9 B | |
| Net Invested Capital | $ 1.9 B | |
| Invested Capital | $ 1.9 B | |
| Net Tangible Assets | $ 1.9 B | |
| Net Working Capital | $ 897.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 6.91 | |
| Current Ratio | 8.784 | |
| Current Ratio QoQ | 11.703 % | |
| Current Ratio YoY | 29.222 % | |
| Current Ratio IPRWA | TNK: 8.784 high: 3.911 mean: 1.234 median: 1.193 low: 0.331 |
|
| Quick Ratio | 8.47 | |
| Quick Ratio QoQ | 11.345 % | |
| Quick Ratio YoY | 33.436 % | |
| Quick Ratio IPRWA | TNK: 8.47 high: 2.792 mean: 0.954 median: 0.892 low: 0.285 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.389 | |
| Cost Of Debt | 1.341 % | |
| Interest Coverage Ratio | 114.749 | |
| Interest Coverage Ratio QoQ | 41.616 % | |
| Interest Coverage Ratio YoY | 60.297 % | |
| Interest Coverage Ratio IPRWA | TNK: 114.749 high: 20.571 mean: 6.989 median: 6.237 low: -10.268 |
|
| Operating Cash Flow Ratio | 1.114 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 11.188 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 10.663 | |
| Dividend Payout Ratio | 0.094 | |
| Dividend Rate | $ 0.25 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.608 % | |
| Revenue Growth | -1.65 % | |
| Revenue Growth QoQ | -411.321 % | |
| Revenue Growth YoY | -90.821 % | |
| Revenue Growth IPRWA | high: 22.858 % median: 4.2 % mean: 4.119 % TNK: -1.65 % low: -20.802 % |
|
| Earnings Growth | 9.22 % | |
| Earnings Growth QoQ | -125.887 % | |
| Earnings Growth YoY | -122.578 % | |
| Earnings Growth IPRWA | high: 200.0 % median: 14.634 % mean: 10.194 % TNK: 9.22 % low: -250.0 % |
|
| MARGINS | ||
| Gross Margin | 23.867 % | |
| Gross Margin QoQ | -9.137 % | |
| Gross Margin YoY | -16.206 % | |
| Gross Margin IPRWA | high: 81.109 % mean: 24.263 % TNK: 23.867 % median: 22.601 % low: -15.694 % |
|
| EBIT Margin | 39.532 % | |
| EBIT Margin QoQ | 46.214 % | |
| EBIT Margin YoY | 62.844 % | |
| EBIT Margin IPRWA | high: 96.372 % TNK: 39.532 % mean: 14.932 % median: 13.227 % low: -70.544 % |
|
| Return On Sales (ROS) | 19.001 % | |
| Return On Sales QoQ | -5.175 % | |
| Return On Sales YoY | -21.729 % | |
| Return On Sales IPRWA | high: 88.305 % TNK: 19.001 % mean: 13.556 % median: 11.014 % low: -22.163 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -53.32 M | |
| Free Cash Flow Yield | -3.033 % | |
| Free Cash Flow Yield QoQ | -411.396 % | |
| Free Cash Flow Yield YoY | -233.143 % | |
| Free Cash Flow Yield IPRWA | high: 20.745 % mean: 1.852 % median: 1.607 % TNK: -3.033 % low: -13.048 % |
|
| Free Cash Growth | -454.42 % | |
| Free Cash Growth QoQ | 544.458 % | |
| Free Cash Growth YoY | 572.866 % | |
| Free Cash Growth IPRWA | high: 279.983 % mean: 16.29 % median: 15.075 % low: -450.857 % TNK: -454.42 % |
|
| Free Cash To Net Income | -0.579 | |
| Cash Flow Margin | 56.093 % | |
| Cash Flow To Earnings | 1.395 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 4.413 % | |
| Return On Assets QoQ | 43.887 % | |
| Return On Assets YoY | 42.447 % | |
| Return On Assets IPRWA | high: 6.589 % TNK: 4.413 % median: 1.226 % mean: 1.069 % low: -6.854 % |
|
| Return On Capital Employed (ROCE) | 4.532 % | |
| Return On Equity (ROE) | 0.048 | |
| Return On Equity QoQ | 40.69 % | |
| Return On Equity YoY | 41.442 % | |
| Return On Equity IPRWA | high: 0.13 TNK: 0.048 median: 0.029 mean: 0.025 low: -0.061 |
|
| DuPont ROE | 4.874 % | |
| Return On Invested Capital (ROIC) | 3.703 % | |
| Return On Invested Capital QoQ | -151.373 % | |
| Return On Invested Capital YoY | -134.543 % | |
| Return On Invested Capital IPRWA | high: 8.109 % TNK: 3.703 % median: 2.588 % mean: 2.58 % low: -6.505 % |
|