Recent News
On November 6, 2025 the company declared an irregular cash dividend of $0.65 per share, returning approximately $27.8 million to shareholders and scheduled an earnings conference call for the same day; the dividend payable date referenced on the release sits on or about December 2, 2025.
On October 30, 2025 the company announced the timing of its second quarter fiscal 2026 earnings release and conference call for November 6, 2025.
Technical Analysis
ADX at 28.45 signals a strong underlying trend without direction; both directional indicators show reversal signals: DI+ registers a dip & reversal while DI- shows a peak & reversal, which together imply a shift toward bullish directional pressure even though DI- currently exceeds DI+ in level.
MACD sits negative at -0.87 with a documented dip & reversal in momentum; the MACD line remains just below the signal line (-0.82), indicating bullish momentum attempting a lift but not yet confirming a cross above the signal line.
MRO reads -29.33, indicating price sits materially below the WMDST target and therefore presents measurable upside potential relative to that target. The MRO peak & reversal label accompanies that gap but the primary implication remains that mean-reversion toward target carries significance for near-term upside.
RSI at 42.46 with a dip & reversal suggests momentum recovering from a near-term pullback; the level keeps the stock out of oversold territory yet offers room for a move higher if buying interest strengthens.
Price behavior sits below several short- and medium-term averages: current close $24.99 under the 12-day EMA ($25.15) and 20-day average ($25.16), while the 50-day average ($27.33) and the Ichimoku cloud (Senkou A $28.14 / Senkou B $29.14) remain above price—these conditions limit momentum until price recaptures short-term averages.
Volumetrics show subdued participation today with volume at 349,624 versus a 10-day average of 444,383 and 50/200-day averages above current trade; lower-than-average volume reduces the conviction behind any immediate breakout attempts.
Fundamental Analysis
Revenue totaled $124,064,281 for the period, while net income reached $55,382,036 and operating cash flow equaled $46,406,491—cash generation supports recurring capital returns and balance-sheet flexibility.
Margins stand materially strong: gross margin at 57.00% and operating margin at 47.83% produce an EBIT margin of 50.77%, which sits above the industry peer mean (21.92%) and industry peer median (20.29%). EBIT measured $62,981,144 and EBITDA reached $80,903,013, reflecting operational leverage from the fleet.
Profitability and returns register as modest in absolute terms but improved QoQ and YoY: EBIT margin increased +140.22% QoQ and +121.81% YoY; operating margin rose +158.35% QoQ and +109.00% YoY. Revenue growth shows +47.32% on the reported growth metric, while the provided YoY revenue growth figure reads -269.54% (use caution interpreting large negative multiples in comparative fields).
Per-share metrics show EPS actual $1.31 versus an estimate of $1.50, yielding an EPS surprise ratio of -12.67%. Forward EPS stands at $0.98 with a forward P/E near 30.24 versus a trailing P/E of 21.88; the difference reflects analyst expectations embedded in forward estimates.
- Balance sheet: cash and short-term investments $268,302,758 with a cash ratio of 2.33 and current ratio 3.32, indicating strong near-term liquidity.
- Leverage: total debt $698,470,254 with debt-to-assets ~39.24% and debt-to-equity ~65.49%; interest coverage ~8.29x provides meaningful cushion on interest obligations.
- Cash returns: dividend yield ~2.15% with dividend coverage ~2.10 and dividends paid $26,344,428 in the period; free cash flow $33,150,311 equates to a free cash flow yield of ~2.70%.
WMDST values the stock as undervalued. The valuation reflects strong margin profile, robust operating cash flow, and a large cash balance relative to obligations; forward multiples show higher forward P/E versus trailing P/E, implying some near-term consensus caution despite solid cash metrics.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-06 |
| NEXT REPORT DATE: | 2026-02-05 |
| CASH FLOW | Begin Period Cash Flow | $ 278.0 M |
| Operating Cash Flow | $ 46.4 M | |
| Capital Expenditures | $ -13.26 M | |
| Change In Working Capital | $ -33.53 M | |
| Dividends Paid | $ -26.34 M | |
| Cash Flow Delta | $ -9.62 M | |
| End Period Cash Flow | $ 268.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 124.1 M | |
| Forward Revenue | $ 23.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 53.4 M | |
| Depreciation | $ 17.9 M | |
| Depreciation and Amortization | $ 17.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 64.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 70.7 M | |
| EBITDA | $ 80.9 M | |
| EBIT | $ 63.0 M | |
| Operating Income | $ 59.3 M | |
| Interest Income | $ 3.0 M | |
| Interest Expense | $ 7.6 M | |
| Net Interest Income | $ -4.60 M | |
| Income Before Tax | $ 55.4 M | |
| Tax Provision | — | |
| Tax Rate | 21.0 % | |
| Net Income | $ 55.4 M | |
| Net Income From Continuing Operations | $ 55.4 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.50 | |
| EPS Actual | $ 1.31 | |
| EPS Difference | $ -0.19 | |
| EPS Surprise | -12.667 % | |
| Forward EPS | $ 0.98 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.8 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.1 B | |
| Total Current Assets | $ 381.9 M | |
| Cash and Short-Term Investments | $ 268.3 M | |
| Cash | $ 268.3 M | |
| Net Receivables | $ 2.4 M | |
| Inventory | $ 2.4 M | |
| Long-Term Investments | $ 2.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 6.6 M | |
| Short-Term Debt | $ 54.2 M | |
| Total Current Liabilities | $ 115.0 M | |
| Net Debt | $ 258.1 M | |
| Total Debt | $ 698.5 M | |
| Total Liabilities | $ 713.6 M | |
| EQUITY | ||
| Total Equity | $ 1.1 B | |
| Retained Earnings | $ 329.6 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 24.90 | |
| Shares Outstanding | 42.838 M | |
| Revenue Per-Share | $ 2.90 | |
| VALUATION | Market Capitalization | $ 1.2 B |
| Enterprise Value | $ 1.7 B | |
| Enterprise Multiple | 20.492 | |
| Enterprise Multiple QoQ | -53.713 % | |
| Enterprise Multiple YoY | -32.442 % | |
| Enterprise Multiple IPRWA | high: 80.266 median: 41.597 mean: 38.431 LPG: 20.492 low: -39.124 |
|
| EV/R | 13.363 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.669 | |
| Asset To Liability | 2.495 | |
| Debt To Capital | 0.396 | |
| Debt To Assets | 0.392 | |
| Debt To Assets QoQ | -0.595 % | |
| Debt To Assets YoY | 1258.117 % | |
| Debt To Assets IPRWA | high: 0.955 LPG: 0.392 mean: 0.34 median: 0.328 low: 0.001 |
|
| Debt To Equity | 0.655 | |
| Debt To Equity QoQ | -1.838 % | |
| Debt To Equity YoY | 1225.44 % | |
| Debt To Equity IPRWA | high: 6.629 mean: 1.82 LPG: 0.655 median: 0.477 low: 0.001 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.151 | |
| Price To Book QoQ | 0.172 % | |
| Price To Book YoY | -10.773 % | |
| Price To Book IPRWA | high: 8.239 mean: 3.934 median: 2.833 LPG: 1.151 low: -0.551 |
|
| Price To Earnings (P/E) | 21.877 | |
| Price To Earnings QoQ | -76.892 % | |
| Price To Earnings YoY | -76.655 % | |
| Price To Earnings IPRWA | high: 210.205 median: 66.119 mean: 52.613 LPG: 21.877 low: -205.39 |
|
| PE/G Ratio | 0.057 | |
| Price To Sales (P/S) | 9.895 | |
| Price To Sales QoQ | -29.92 % | |
| Price To Sales YoY | -41.897 % | |
| Price To Sales IPRWA | high: 26.398 LPG: 9.895 mean: 8.626 median: 8.247 low: 0.202 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 30.243 | |
| Forward PE/G | 0.079 | |
| Forward P/S | 52.35 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.365 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.07 | |
| Asset Turnover Ratio QoQ | 47.277 % | |
| Asset Turnover Ratio YoY | 60.892 % | |
| Asset Turnover Ratio IPRWA | high: 0.527 mean: 0.146 median: 0.146 LPG: 0.07 low: 0.025 |
|
| Receivables Turnover | 62.403 | |
| Receivables Turnover Ratio QoQ | 7.728 % | |
| Receivables Turnover Ratio YoY | -33.286 % | |
| Receivables Turnover Ratio IPRWA | LPG: 62.403 high: 6.266 mean: 2.557 median: 1.95 low: 0.342 |
|
| Inventory Turnover | 22.238 | |
| Inventory Turnover Ratio QoQ | 4.469 % | |
| Inventory Turnover Ratio YoY | 12.46 % | |
| Inventory Turnover Ratio IPRWA | high: 25.021 LPG: 22.238 mean: 3.583 median: 1.539 low: 0.137 |
|
| Days Sales Outstanding (DSO) | 1.462 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -12.405 | |
| Cash Conversion Cycle Days QoQ | -22.752 % | |
| Cash Conversion Cycle Days YoY | 10.33 % | |
| Cash Conversion Cycle Days IPRWA | high: 283.261 median: 62.82 mean: 61.751 LPG: -12.405 low: -106.205 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.465 | |
| CapEx To Revenue | -0.107 | |
| CapEx To Depreciation | -0.74 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.5 B | |
| Net Invested Capital | $ 1.6 B | |
| Invested Capital | $ 1.6 B | |
| Net Tangible Assets | $ 1.1 B | |
| Net Working Capital | $ 266.9 M | |
| LIQUIDITY | ||
| Cash Ratio | 2.333 | |
| Current Ratio | 3.321 | |
| Current Ratio QoQ | -0.071 % | |
| Current Ratio YoY | -21.399 % | |
| Current Ratio IPRWA | high: 8.853 LPG: 3.321 mean: 1.997 median: 1.409 low: 0.121 |
|
| Quick Ratio | 3.3 | |
| Quick Ratio QoQ | -0.048 % | |
| Quick Ratio YoY | -21.456 % | |
| Quick Ratio IPRWA | high: 5.886 LPG: 3.3 mean: 1.418 median: 1.004 low: 0.119 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.633 | |
| Cost Of Debt | 0.865 % | |
| Interest Coverage Ratio | 8.288 | |
| Interest Coverage Ratio QoQ | 259.277 % | |
| Interest Coverage Ratio YoY | 314.61 % | |
| Interest Coverage Ratio IPRWA | high: 24.78 LPG: 8.288 mean: 7.229 median: 4.924 low: -18.692 |
|
| Operating Cash Flow Ratio | 0.565 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 18.049 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.102 | |
| Dividend Payout Ratio | 0.476 | |
| Dividend Rate | $ 0.61 | |
| Dividend Yield | 0.021 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.777 % | |
| Revenue Growth | 47.324 % | |
| Revenue Growth QoQ | 331.473 % | |
| Revenue Growth YoY | -269.541 % | |
| Revenue Growth IPRWA | LPG: 47.324 % high: 37.301 % median: -2.556 % mean: -3.898 % low: -41.644 % |
|
| Earnings Growth | 385.185 % | |
| Earnings Growth QoQ | 4714.813 % | |
| Earnings Growth YoY | -633.335 % | |
| Earnings Growth IPRWA | LPG: 385.185 % high: 116.667 % median: 5.455 % mean: -3.444 % low: -300.0 % |
|
| MARGINS | ||
| Gross Margin | 56.996 % | |
| Gross Margin QoQ | 50.667 % | |
| Gross Margin YoY | 34.548 % | |
| Gross Margin IPRWA | high: 86.511 % LPG: 56.996 % mean: 33.639 % median: 30.384 % low: -11.703 % |
|
| EBIT Margin | 50.765 % | |
| EBIT Margin QoQ | 140.217 % | |
| EBIT Margin YoY | 121.807 % | |
| EBIT Margin IPRWA | high: 86.674 % LPG: 50.765 % mean: 21.922 % median: 20.288 % low: -36.813 % |
|
| Return On Sales (ROS) | 47.834 % | |
| Return On Sales QoQ | 158.353 % | |
| Return On Sales YoY | 109.001 % | |
| Return On Sales IPRWA | high: 86.674 % LPG: 47.834 % mean: 23.168 % median: 20.034 % low: -53.182 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 33.2 M | |
| Free Cash Flow Yield | 2.7 % | |
| Free Cash Flow Yield QoQ | -1528.571 % | |
| Free Cash Flow Yield YoY | -32.007 % | |
| Free Cash Flow Yield IPRWA | high: 9.049 % LPG: 2.7 % median: 1.414 % mean: 1.184 % low: -14.958 % |
|
| Free Cash Growth | -1578.397 % | |
| Free Cash Growth QoQ | 1388.029 % | |
| Free Cash Growth YoY | -4097.561 % | |
| Free Cash Growth IPRWA | high: 203.349 % mean: 21.464 % median: 6.034 % low: -303.183 % LPG: -1578.397 % |
|
| Free Cash To Net Income | 0.599 | |
| Cash Flow Margin | 52.409 % | |
| Cash Flow To Earnings | 1.174 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 3.138 % | |
| Return On Assets QoQ | 448.601 % | |
| Return On Assets YoY | 527.6 % | |
| Return On Assets IPRWA | high: 5.354 % LPG: 3.138 % median: 2.006 % mean: 1.65 % low: -7.223 % |
|
| Return On Capital Employed (ROCE) | 3.782 % | |
| Return On Equity (ROE) | 0.052 | |
| Return On Equity QoQ | 433.162 % | |
| Return On Equity YoY | 499.654 % | |
| Return On Equity IPRWA | high: 0.234 mean: 0.075 LPG: 0.052 median: 0.05 low: -0.117 |
|
| DuPont ROE | 5.271 % | |
| Return On Invested Capital (ROIC) | 3.123 % | |
| Return On Invested Capital QoQ | 249.72 % | |
| Return On Invested Capital YoY | -163.852 % | |
| Return On Invested Capital IPRWA | high: 8.654 % LPG: 3.123 % mean: 3.025 % median: 2.722 % low: -8.039 % |
|