Technical Analysis
Directional Indicators (ADX/DI+/DI-): ADX registers 24.47, indicating an emerging trend strength. DI+ at 21.73 carried a dip-and-reverse, a bullish development; DI- at 11.98 also carried a dip-and-reverse, which reflects increased bearish pressure on directional downside. Net directional bias favors the upside given DI+ above DI- while ADX confirms only an emerging trend.
MACD: MACD reads 0.41 with the MACD line rising above the signal at 0.37; the cross above the signal line signals bullish momentum and supports continuation of the current upward price bias.
MRO (Momentum/Regression Oscillator): MRO at 28.81 paired with a peak-and-reversal indicates bearish pressure coming from a price that sits above the WMDST target, suggesting elevated risk of a near-term pullback toward technical supports.
RSI and Short-Term Price Structure: RSI at 54.59 and rising signals mild bullish momentum without clear overbought conditions. Price at $34.13 sits above the 12-day EMA ($33.80), 20-day average ($33.57), 50-day average ($32.76) and the 200-day average ($26.71), reflecting short-to-intermediate bullish structure.
Bollinger Bands & Ichimoku: Price trades near the upper 1x standard-deviation band ($34.26), which limits immediate upside room. Ichimoku Tenkan at $33.92 and Kijun at $33.87 track just below current price, providing a nearby dynamic support band.
Volume & Volatility: Daily volume at 69,701 sits well below the 10-day average of 264,537 and the 200-day average of 229,676, reducing conviction behind recent moves. 42-day and 52-week volatility both read 2%, indicating low realized price variability while beta (42-day 0.69; 52-week 0.68) shows below-market sensitivity.
Support/Resistance Context: SuperTrend lower at $32.04 provides a nearby structural support level. Short-term resistance appears near the upper Bollinger band ($34.26–$34.95 range) and market consensus target mean of $37.89 serves as a mid-term upside reference.
Fundamental Analysis
Revenue Growth: Trailing revenue growth reads -40.35% year-over-year while quarter-over-quarter revenue growth shows a 75.31% increase; the YoY decline reflects commodity-price and volume dynamics while the QoQ spike signals sequential recovery in sales activity.
Profitability: EBIT margin at 15.90% sits above the industry peer mean of 9.68% and marginally above the industry peer median of 15.30%, indicating stronger operating profitability than the peer average. Gross margin at 20.57% falls below the industry peer mean of 30.96 and below the industry peer median of 34.82%, highlighting cost-of-sales pressure relative to peers despite healthy operating margin performance.
Cash, Liquidity, Leverage: Cash and short-term investments total $335,541,000 while market capitalization reads $1,024,229,837 and enterprise value equals $711,627,837. Current ratio stands at 7.16x and quick ratio at 6.68x, reflecting robust short-term liquidity compared with typical sector norms. Total debt equals $22,939,000, placing debt-to-assets at 3.06% and debt-to-equity at 4.05%, both indicating very low financial leverage.
Cash Flow & Capital Allocation: Operating cash flow reads $51,239,000 and free cash flow registers $24,510,000, producing a free cash flow yield of 2.39%, slightly above the industry peer mean of 2.04%. Free cash to net income stands at 104.69%, showing cash-based earnings quality that supports ongoing capital investment and buybacks noted earlier in the year.
Returns: Return on equity at 4.13% sits above the industry peer mean of 2.54% and below the industry peer high; return on assets reads 3.23% and exceeds the industry peer mean of 0.60%, reflecting efficient asset utilization relative to peers.
Other Valuation Metrics: Forward P/E stands at a multiple of 53.06, close to the industry peer mean multiple of 52.01; enterprise multiple reads 20.95, below the industry peer mean of 31.78. WMDST values the stock as fair-valued, with strong liquidity and low leverage offsetting compressed gross margins and a high forward multiple.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-10-31 |
| REPORT DATE: | 2025-11-26 |
| NEXT REPORT DATE: | 2026-02-25 |
| CASH FLOW | Begin Period Cash Flow | $ 241.0 M |
| Operating Cash Flow | $ 51.2 M | |
| Capital Expenditures | $ -26.73 M | |
| Change In Working Capital | $ 17.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 31.0 M | |
| End Period Cash Flow | $ 272.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 175.6 M | |
| Forward Revenue | $ 35.1 M | |
| COSTS | ||
| Cost Of Revenue | $ 139.5 M | |
| Depreciation | $ 6.0 M | |
| Depreciation and Amortization | $ 6.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 147.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 36.1 M | |
| EBITDA | $ 34.0 M | |
| EBIT | $ 27.9 M | |
| Operating Income | $ 27.9 M | |
| Interest Income | $ 3.2 M | |
| Interest Expense | — | |
| Net Interest Income | $ 3.2 M | |
| Income Before Tax | $ 35.5 M | |
| Tax Provision | $ 8.0 M | |
| Tax Rate | 22.529 % | |
| Net Income | $ 23.4 M | |
| Net Income From Continuing Operations | $ 27.5 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.57 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 750.1 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 566.9 M | |
| Total Current Assets | $ 411.7 M | |
| Cash and Short-Term Investments | $ 335.5 M | |
| Cash | $ 272.0 M | |
| Net Receivables | $ 27.4 M | |
| Inventory | $ 27.7 M | |
| Long-Term Investments | $ 1.3 M | |
| LIABILITIES | ||
| Accounts Payable | $ 33.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 57.5 M | |
| Net Debt | — | |
| Total Debt | $ 22.9 M | |
| Total Liabilities | $ 93.9 M | |
| EQUITY | ||
| Total Equity | $ 566.9 M | |
| Retained Earnings | $ 566.6 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 17.21 | |
| Shares Outstanding | 32.938 M | |
| Revenue Per-Share | $ 5.33 | |
| VALUATION | Market Capitalization | $ 1.0 B |
| Enterprise Value | $ 711.6 M | |
| Enterprise Multiple | 20.955 | |
| Enterprise Multiple QoQ | -48.412 % | |
| Enterprise Multiple YoY | 70.455 % | |
| Enterprise Multiple IPRWA | high: 158.339 median: 43.595 mean: 31.783 REX: 20.955 low: -39.178 |
|
| EV/R | 4.052 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.323 | |
| Asset To Liability | 7.992 | |
| Debt To Capital | 0.039 | |
| Debt To Assets | 0.031 | |
| Debt To Assets QoQ | -12.828 % | |
| Debt To Assets YoY | 273.839 % | |
| Debt To Assets IPRWA | high: 0.538 mean: 0.441 median: 0.422 low: 0.19 REX: 0.031 |
|
| Debt To Equity | 0.04 | |
| Debt To Equity QoQ | -10.169 % | |
| Debt To Equity YoY | 289.788 % | |
| Debt To Equity IPRWA | high: 2.248 mean: 1.503 median: 1.474 low: 0.322 REX: 0.04 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.807 | |
| Price To Book QoQ | 16.089 % | |
| Price To Book YoY | 27.386 % | |
| Price To Book IPRWA | high: 8.573 median: 2.725 mean: 2.58 REX: 1.807 low: 1.053 |
|
| 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) | 5.832 | |
| Price To Sales QoQ | 8.874 % | |
| Price To Sales YoY | 27.389 % | |
| Price To Sales IPRWA | high: 8.995 REX: 5.832 median: 5.085 mean: 4.593 low: 2.861 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 53.059 | |
| Forward PE/G | — | |
| Forward P/S | 29.219 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 22.667 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.242 | |
| Asset Turnover Ratio QoQ | 6.468 % | |
| Asset Turnover Ratio YoY | -3.38 % | |
| Asset Turnover Ratio IPRWA | REX: 0.242 high: 0.222 mean: 0.159 median: 0.148 low: 0.132 |
|
| Receivables Turnover | 6.72 | |
| Receivables Turnover Ratio QoQ | 11.892 % | |
| Receivables Turnover Ratio YoY | -10.48 % | |
| Receivables Turnover Ratio IPRWA | REX: 6.72 high: 5.315 mean: 3.107 median: 2.63 low: 2.136 |
|
| Inventory Turnover | 4.704 | |
| Inventory Turnover Ratio QoQ | 1.328 % | |
| Inventory Turnover Ratio YoY | 1.407 % | |
| Inventory Turnover Ratio IPRWA | REX: 4.704 high: 1.544 mean: 1.314 median: 1.287 low: 1.024 |
|
| Days Sales Outstanding (DSO) | 13.579 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 16.14 | |
| Cash Conversion Cycle Days QoQ | -28.725 % | |
| Cash Conversion Cycle Days YoY | 16.389 % | |
| Cash Conversion Cycle Days IPRWA | high: 69.41 median: 25.952 mean: 19.109 REX: 16.14 low: -19.889 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.496 | |
| CapEx To Revenue | -0.152 | |
| CapEx To Depreciation | -4.424 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 566.9 M | |
| Net Invested Capital | $ 566.9 M | |
| Invested Capital | $ 566.9 M | |
| Net Tangible Assets | $ 566.9 M | |
| Net Working Capital | $ 354.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 5.837 | |
| Current Ratio | 7.162 | |
| Current Ratio QoQ | -31.989 % | |
| Current Ratio YoY | -27.874 % | |
| Current Ratio IPRWA | REX: 7.162 high: 1.851 mean: 0.865 median: 0.819 low: 0.657 |
|
| Quick Ratio | 6.68 | |
| Quick Ratio QoQ | -30.97 % | |
| Quick Ratio YoY | -27.912 % | |
| Quick Ratio IPRWA | REX: 6.68 high: 1.383 mean: 0.404 median: 0.392 low: 0.284 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.675 | |
| Cost Of Debt | 25.593 % | |
| Interest Coverage Ratio | 3.557 | |
| Interest Coverage Ratio QoQ | 243.903 % | |
| Interest Coverage Ratio YoY | -10.677 % | |
| Interest Coverage Ratio IPRWA | high: 5.907 median: 4.229 REX: 3.557 mean: 3.352 low: -16.907 |
|
| Operating Cash Flow Ratio | 0.815 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 16.198 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 7.06 % | |
| Revenue Growth | 10.76 % | |
| Revenue Growth QoQ | 7531.206 % | |
| Revenue Growth YoY | -40.345 % | |
| Revenue Growth IPRWA | high: 34.275 % REX: 10.76 % mean: 8.748 % median: 7.599 % low: -9.809 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 20.573 % | |
| Gross Margin QoQ | 127.829 % | |
| Gross Margin YoY | -9.334 % | |
| Gross Margin IPRWA | high: 37.333 % median: 34.819 % mean: 30.957 % REX: 20.573 % low: 20.042 % |
|
| EBIT Margin | 15.896 % | |
| EBIT Margin QoQ | 210.469 % | |
| EBIT Margin YoY | -11.061 % | |
| EBIT Margin IPRWA | high: 17.896 % REX: 15.896 % median: 15.3 % mean: 9.677 % low: -25.861 % |
|
| Return On Sales (ROS) | 15.896 % | |
| Return On Sales QoQ | 210.469 % | |
| Return On Sales YoY | -11.061 % | |
| Return On Sales IPRWA | high: 18.201 % median: 17.489 % REX: 15.896 % mean: 15.07 % low: 1.741 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 24.5 M | |
| Free Cash Flow Yield | 2.393 % | |
| Free Cash Flow Yield QoQ | -453.994 % | |
| Free Cash Flow Yield YoY | 5.326 % | |
| Free Cash Flow Yield IPRWA | high: 2.662 % median: 2.471 % REX: 2.393 % mean: 2.041 % low: -1.145 % |
|
| Free Cash Growth | -527.003 % | |
| Free Cash Growth QoQ | 1079.505 % | |
| Free Cash Growth YoY | 52.636 % | |
| Free Cash Growth IPRWA | high: 135.026 % median: -24.806 % mean: -115.121 % REX: -527.003 % low: -629.771 % |
|
| Free Cash To Net Income | 1.047 | |
| Cash Flow Margin | 26.659 % | |
| Cash Flow To Earnings | 2.0 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.05 | |
| Return On Assets (ROA) | 3.228 % | |
| Return On Assets QoQ | 216.471 % | |
| Return On Assets YoY | -8.06 % | |
| Return On Assets IPRWA | REX: 3.228 % high: 1.364 % median: 1.26 % mean: 0.602 % low: -3.26 % |
|
| Return On Capital Employed (ROCE) | 4.031 % | |
| Return On Equity (ROE) | 0.041 | |
| Return On Equity QoQ | 216.961 % | |
| Return On Equity YoY | -4.839 % | |
| Return On Equity IPRWA | high: 0.049 median: 0.044 REX: 0.041 mean: 0.025 low: -0.082 |
|
| DuPont ROE | 4.208 % | |
| Return On Invested Capital (ROIC) | 3.815 % | |
| Return On Invested Capital QoQ | 232.607 % | |
| Return On Invested Capital YoY | -157.541 % | |
| Return On Invested Capital IPRWA | REX: 3.815 % high: 2.475 % median: 2.337 % mean: 1.555 % low: -3.646 % |
|