Recent News
On November 20, 2025 the company’s board declared a quarterly cash dividend of $0.30 per share, a 20% increase from $0.25, payable January 9, 2026 to shareholders of record as of December 11, 2025; the announcement emphasizes continued dividend growth.
Technical Analysis
Directional indicators show a strong trend environment: ADX stands at 40.78, signaling a very strong trend presence; however, DI+ has peaked and reversed while DI- dipped and reversed, which favors downside pressure on price relative to the prevailing trend strength.
MACD reads 0.42 with the MACD line below its 0.45 signal line and the MACD trend noted as peak-and-reversal, indicating bearish momentum despite a positive absolute MACD value.
MRO sits at 6.28 with a peak-and-reversal trend. The positive MRO indicates price above the modeled target and suggests a tendency for the price to decrease toward that target in the near term.
RSI at 62.9 shows recent strength but a peak-and-reversal pattern, consistent with loss of upward momentum and higher probability of a pullback or consolidation before renewed advances.
Price sits at $19.60, above the 200-day average of $16.08 but slightly below the 20-day average of $19.68 and the 12-day EMA at $19.65 (12-day EMA trend: peak & reversal). Those placements imply longer-term support intact while short-term momentum loses lift.
Bollinger bands compress (upper ~ $19.94, lower ~ $19.42) and the super trend lower at $19.13 provides a nearby technical support reference; reduced 10–day volume versus the 10-day average suggests less conviction behind recent moves.
Ichimoku short-term lines show Tenkan at $19.80 above Kijun at $19.31 but Tenkan’s peak-and-reversal warns that the short-term bullish bias has begun to weaken, aligning with other momentum signals that favor a short-term pullback.
Fundamental Analysis
EPS and revenue: Reported EPS of $0.48 exceeded the estimate of $0.39, producing an EPS surprise of 23.08%, reinforcing recent profitability strength. Total revenue for the reported period equals $45,183,000 and forward revenue is listed at $10,164,107, showing scale but modest top-line growth dynamics.
Profitability and cash flow: Net income totaled $15,684,000 with operating cash flow of $15,977,000 and free cash flow of $15,869,000. Free cash to net income approximates 101.18%, and the cash flow margin stands at 37.73%, both supporting cash-generative operations behind the dividend increases.
Returns and balance sheet: Return on assets measures 0.389% while return on equity measures 2.777%; return on assets slightly sits above the industry peer mean of 0.377% while return on equity sits below the industry peer mean of 4.703% (industry peer mean data provided). Total assets equal $4,101,209,000 with total equity of $564,724,000 and a debt-to-assets ratio of 1.282%—a notably low leverage position versus typical regional bank profiles.
Valuation multiples: Trailing PE stands at 34.51 and forward PE at 36.68. Price-to-book registers 0.95, which lies slightly above the industry peer mean book multiple of 0.89184 but below the industry peer median book multiple of 1.07133. Price-to-sales reads 11.89 while free cash flow yield equals 2.95%, below the industry peer mean free cash flow yield of 6.987%—attributes consistent with a premium on earnings and limited free-cash yield compared with peers.
Growth rates: YoY revenue growth registers at 2.06% while QoQ revenue change shows a markedly negative reading per the provided QoQ figure. Earnings growth appears positive at 11.63% (year-over-year). Asset growth sits at 3.73% year-over-year, and the company reports free cash growth of 18.53% though quarterly free cash growth shows contraction—mixed timing signals between annual and intra-year metrics.
Risk & capital: Cost of debt measures 17.265% and interest expense tallies $14,673,000 against interest income of $57,188,000. Tangible equity and net tangible assets remain solid at $434,363,000. Low debt-to-capital (8.52%) and debt-to-equity (9.31%) reduce financial leverage risk, supporting the dividend increases from a capital perspective.
Valuation view: WMDST values the stock as over-valued. The over-valued assessment aligns with a relatively high trailing and forward PE, low free cash flow yield versus the industry peer mean, and a high price-to-sales read, despite cash generation and a low-leverage balance sheet that underpin dividend capacity.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-28 |
| NEXT REPORT DATE: | 2026-01-27 |
| CASH FLOW | Begin Period Cash Flow | $ 430.1 M |
| Operating Cash Flow | $ 16.0 M | |
| Capital Expenditures | $ -108.00 K | |
| Change In Working Capital | $ 2.3 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 129.1 M | |
| End Period Cash Flow | $ 559.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 45.2 M | |
| Forward Revenue | $ 10.2 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 416.0 K | |
| Depreciation and Amortization | $ 1.4 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 57.2 M | |
| Interest Expense | $ 14.7 M | |
| Net Interest Income | $ 42.5 M | |
| Income Before Tax | $ 21.8 M | |
| Tax Provision | $ 6.1 M | |
| Tax Rate | 28.1 % | |
| Net Income | $ 15.7 M | |
| Net Income From Continuing Operations | $ 15.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.39 | |
| EPS Actual | $ 0.48 | |
| EPS Difference | $ 0.09 | |
| EPS Surprise | 23.077 % | |
| Forward EPS | $ 0.43 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 4.1 B | |
| Intangible Assets | $ 130.4 M | |
| Net Tangible Assets | $ 434.4 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 95.0 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 52.6 M | |
| Total Liabilities | $ 3.5 B | |
| EQUITY | ||
| Total Equity | $ 564.7 M | |
| Retained Earnings | $ 122.6 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 17.41 | |
| Shares Outstanding | 32.443 M | |
| Revenue Per-Share | $ 1.39 | |
| VALUATION | Market Capitalization | $ 537.4 M |
| Enterprise Value | $ 590.0 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 13.059 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 7.262 | |
| Asset To Liability | 1.16 | |
| Debt To Capital | 0.085 | |
| Debt To Assets | 0.013 | |
| Debt To Assets QoQ | -27.159 % | |
| Debt To Assets YoY | 191.364 % | |
| Debt To Assets IPRWA | high: 0.253 mean: 0.172 median: 0.167 BCAL: 0.013 low: 0.006 |
|
| Debt To Equity | 0.093 | |
| Debt To Equity QoQ | -26.719 % | |
| Debt To Equity YoY | 141.483 % | |
| Debt To Equity IPRWA | high: 4.219 median: 2.449 mean: 2.22 BCAL: 0.093 low: 0.06 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.952 | |
| Price To Book QoQ | 1.607 % | |
| Price To Book YoY | 2.632 % | |
| Price To Book IPRWA | high: 2.697 median: 1.071 BCAL: 0.952 mean: 0.892 low: 0.0 |
|
| Price To Earnings (P/E) | 34.512 | |
| Price To Earnings QoQ | -3.984 % | |
| Price To Earnings YoY | -112.009 % | |
| Price To Earnings IPRWA | high: 81.671 mean: 50.139 median: 49.662 BCAL: 34.512 low: -0.125 |
|
| PE/G Ratio | 2.968 | |
| Price To Sales (P/S) | 11.895 | |
| Price To Sales QoQ | 2.675 % | |
| Price To Sales YoY | -1.832 % | |
| Price To Sales IPRWA | high: 26.376 BCAL: 11.895 median: 7.39 mean: 6.598 low: 0.006 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 36.681 | |
| Forward PE/G | 3.155 | |
| Forward P/S | 51.399 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.011 | |
| Asset Turnover Ratio QoQ | 0.538 % | |
| Asset Turnover Ratio YoY | -2.009 % | |
| Asset Turnover Ratio IPRWA | high: 0.024 BCAL: 0.011 mean: 0.01 median: 0.01 low: 0.004 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 60.417 median: 29.484 mean: 29.061 low: 10.398 BCAL: 0 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.002 | |
| CapEx To Depreciation | -0.26 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 598.2 M | |
| Net Invested Capital | $ 598.2 M | |
| Invested Capital | $ 598.2 M | |
| Net Tangible Assets | $ 434.4 M | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 17.265 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 3.73 % | |
| Revenue Growth | 2.055 % | |
| Revenue Growth QoQ | -267.755 % | |
| Revenue Growth YoY | -97.135 % | |
| Revenue Growth IPRWA | high: 15.791 % BCAL: 2.055 % median: -5.459 % mean: -7.047 % low: -14.145 % |
|
| Earnings Growth | 11.628 % | |
| Earnings Growth QoQ | -167.183 % | |
| Earnings Growth YoY | -101.938 % | |
| Earnings Growth IPRWA | high: 39.326 % BCAL: 11.628 % mean: -11.061 % median: -16.667 % low: -61.932 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 15.9 M | |
| Free Cash Flow Yield | 2.953 % | |
| Free Cash Flow Yield QoQ | 13.142 % | |
| Free Cash Flow Yield YoY | -24.726 % | |
| Free Cash Flow Yield IPRWA | high: 15.733 % mean: 6.987 % median: 6.127 % BCAL: 2.953 % low: -0.474 % |
|
| Free Cash Growth | 18.532 % | |
| Free Cash Growth QoQ | -80.42 % | |
| Free Cash Growth YoY | -99.823 % | |
| Free Cash Growth IPRWA | high: 678.861 % BCAL: 18.532 % mean: -324.956 % median: -369.85 % low: -613.294 % |
|
| Free Cash To Net Income | 1.012 | |
| Cash Flow Margin | 37.731 % | |
| Cash Flow To Earnings | 1.087 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.05 | |
| Return On Assets (ROA) | 0.389 % | |
| Return On Assets QoQ | 9.577 % | |
| Return On Assets YoY | -178.586 % | |
| Return On Assets IPRWA | high: 0.582 % BCAL: 0.389 % mean: 0.377 % median: 0.368 % low: 0.079 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.028 | |
| Return On Equity QoQ | 7.845 % | |
| Return On Equity YoY | -183.999 % | |
| Return On Equity IPRWA | high: 0.054 median: 0.052 mean: 0.047 BCAL: 0.028 low: -0.007 |
|
| DuPont ROE | 2.82 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |