Recent News
On December 23, 2025 the company scheduled release of fourth-quarter and fiscal-year 2025 results and a January 13, 2026 investor webcast. Market commentary on January 6, 2026 highlighted the company’s upcoming results and analyst estimates for Q4, and November filings reported institutional adjustments and the company’s dividend increase announced in late October.
Technical Analysis
Directional Indicators (ADX / DI+ / DI-): ADX at 25.13 signals a strong trend environment. DI+ sits at 29.17 and shows an increasing trend, while DI- at 17.52 displays a peak-and-reversal pattern (DI- decreasing). That combination indicates bullish directional pressure, supporting the near-term positive bias implied by shorter-term moving averages.
MACD: MACD registers 1.00 with the signal line at 0.64 and a confirmed MACD above-signal condition; the MACD trend shows increasing momentum. That momentum breakout aligns with short-term bullishness in price action and supports the valuation view that market momentum could narrow the gap to WMDST’s valuation.
MRO (Momentum/Regression Oscillator): MRO reads 35.19 and trends higher, which denotes the current market price sits above the model target and may face mean-reverting pressure. This mechanical overextension suggests any continuation in rally could meet resistance from reversion forces.
RSI: RSI at 51.61 and rising indicates neutral-to-mild bullish momentum without overbought conditions, leaving room for further upside before momentum fatigue becomes likely.
Price vs. Moving Averages & Support/Resistance: Current close $43.88 trades above the 12-day EMA ($41.59), 20-day average ($41.38) and 50-day average ($38.65), while remaining below the 200-day average ($48.39). The ichimoku Tenkan ($41.19) sits below price, and the Senkou cloud spans roughly $37.59–$44.53, placing price near the upper cloud boundary. Bollinger bands center near $41.38 with upper 1x at $42.70 and lower 1x at $40.05, indicating recent price action moved toward the upper band. Volume shows a modest pickup versus the 10-day average and sits slightly below the 50-day average, suggesting participation supports the short-term push but lacks broad conviction.
Fundamental Analysis
Profitability & Margins: EBIT stands at $183,458,000 with an EBIT margin of 7.39%. That margin improved QoQ by 40.48% and improved YoY by 64.47%, yet it remains below the industry peer mean margin of 11.617% and below the industry peer median of 11.971%. Operating margin registers 5.92%, up 12.55% QoQ and up 31.77% YoY, reflecting operating leverage during recent revenue gains.
Revenue & Earnings Growth: Total revenue $2,483,253,000 with revenue growth of 2.73% on the most recent period and revenue growth YoY near 8.70%; revenue grew QoQ by about 43.20%, indicating seasonal or recent contract-driven acceleration. EPS arrived at $1.34 versus an estimate of $0.95, producing an EPS surprise of +41.05%, a notable beat that supports an upward revision to near-term earnings expectations.
Cash Flow & Liquidity: Operating cash flow tallied $224,803,000 and free cash flow reached $159,749,000, producing a free cash flow yield of 4.84% and cash conversion metrics that exceed the industry peer mean free cash flow yield. Cash and short-term investments total $350,259,000 while the cash ratio sits at 17.43% and the current ratio at 1.56, which closely matches the industry peer mean current ratio of 1.613.
Capital Structure & Leverage: Total debt $4,827,793,000 and net debt $4,477,534,000 produce a debt-to-equity of 1.11 and debt-to-EBITDA around 13.71. Debt-to-equity exceeds the industry peer mean of 0.7549, indicating a higher leverage profile that constrains flexibility despite improving earnings and cash flow. Interest coverage reads 2.55, showing limited but positive coverage of interest expense.
Returns & Efficiency: Return on equity measures 2.03% and return on assets 0.71%, both improving QoQ substantially but remaining modest in absolute terms. Asset turnover sits at 0.20 and tracks below the industry peer mean of 0.2613, pointing to lower revenue generation per dollar of assets.
Valuation Summary: Market multiples show a P/E of 39.61 and a price-to-book of 0.76. Forward P/E stands near 16.96 with forward revenue around $1.3427 billion. WMDST values the stock as under-valued given the combination of improving cash generation, an above-mean free cash flow yield, and forward earnings that compress multiples versus the current P/E.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-08-31 |
| REPORT DATE: | 2025-09-25 |
| NEXT REPORT DATE: | 2025-12-25 |
| CASH FLOW | Begin Period Cash Flow | $ 535.1 M |
| Operating Cash Flow | $ 224.8 M | |
| Capital Expenditures | $ -65.05 M | |
| Change In Working Capital | $ -15.07 M | |
| Dividends Paid | $ -21.87 M | |
| Cash Flow Delta | $ 3.4 M | |
| End Period Cash Flow | $ 538.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.5 B | |
| Forward Revenue | $ 1.3 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.6 B | |
| Depreciation | $ 56.8 M | |
| Depreciation and Amortization | $ 168.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 2.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 855.0 M | |
| EBITDA | $ 352.0 M | |
| EBIT | $ 183.5 M | |
| Operating Income | $ 147.0 M | |
| Interest Income | — | |
| Interest Expense | $ 72.0 M | |
| Net Interest Income | $ -72.01 M | |
| Income Before Tax | $ 111.4 M | |
| Tax Provision | $ 23.3 M | |
| Tax Rate | 20.9 % | |
| Net Income | $ 88.1 M | |
| Net Income From Continuing Operations | $ 88.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.95 | |
| EPS Actual | $ 1.34 | |
| EPS Difference | $ 0.39 | |
| EPS Surprise | 41.053 % | |
| Forward EPS | $ 3.06 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 12.4 B | |
| Intangible Assets | $ 7.3 B | |
| Net Tangible Assets | $ -2.93 B | |
| Total Current Assets | $ 3.1 B | |
| Cash and Short-Term Investments | $ 350.3 M | |
| Cash | $ 350.3 M | |
| Net Receivables | $ 1.1 B | |
| Inventory | — | |
| Long-Term Investments | $ 986.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 221.6 M | |
| Short-Term Debt | $ 37.5 M | |
| Total Current Liabilities | $ 2.0 B | |
| Net Debt | $ 4.5 B | |
| Total Debt | $ 4.8 B | |
| Total Liabilities | $ 8.1 B | |
| EQUITY | ||
| Total Equity | $ 4.3 B | |
| Retained Earnings | $ 1.3 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 69.83 | |
| Shares Outstanding | 62.209 M | |
| Revenue Per-Share | $ 39.92 | |
| VALUATION | Market Capitalization | $ 3.3 B |
| Enterprise Value | $ 7.8 B | |
| Enterprise Multiple | 22.099 | |
| Enterprise Multiple QoQ | -17.943 % | |
| Enterprise Multiple YoY | 56.02 % | |
| Enterprise Multiple IPRWA | high: 84.269 median: 60.477 mean: 46.21 CNXC: 22.099 low: -78.475 |
|
| EV/R | 3.133 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.857 | |
| Asset To Liability | 1.539 | |
| Debt To Capital | 0.526 | |
| Debt To Assets | 0.389 | |
| Debt To Assets QoQ | -1.399 % | |
| Debt To Assets YoY | 169039.13 % | |
| Debt To Assets IPRWA | high: 1.141 CNXC: 0.389 mean: 0.214 median: 0.125 low: 0.007 |
|
| Debt To Equity | 1.111 | |
| Debt To Equity QoQ | -2.774 % | |
| Debt To Equity YoY | 160963.768 % | |
| Debt To Equity IPRWA | high: 4.641 CNXC: 1.111 mean: 0.755 median: 0.218 low: -2.735 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.76 | |
| Price To Book QoQ | -2.276 % | |
| Price To Book YoY | -25.571 % | |
| Price To Book IPRWA | high: 12.644 median: 5.221 mean: 4.261 CNXC: 0.76 low: -1.616 |
|
| Price To Earnings (P/E) | 39.606 | |
| Price To Earnings QoQ | 102.233 % | |
| Price To Earnings YoY | 71.951 % | |
| Price To Earnings IPRWA | high: 222.024 mean: 83.509 median: 72.275 CNXC: 39.606 low: -68.555 |
|
| PE/G Ratio | -0.786 | |
| Price To Sales (P/S) | 1.33 | |
| Price To Sales QoQ | -3.414 % | |
| Price To Sales YoY | -25.434 % | |
| Price To Sales IPRWA | high: 12.808 median: 9.256 mean: 7.119 CNXC: 1.33 low: 0.004 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 16.958 | |
| Forward PE/G | -0.337 | |
| Forward P/S | 2.448 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 16.259 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.2 | |
| Asset Turnover Ratio QoQ | 0.593 % | |
| Asset Turnover Ratio YoY | 1.836 % | |
| Asset Turnover Ratio IPRWA | high: 0.543 median: 0.264 mean: 0.261 CNXC: 0.2 low: 0.037 |
|
| Receivables Turnover | 2.187 | |
| Receivables Turnover Ratio QoQ | 2.655 % | |
| Receivables Turnover Ratio YoY | -4.817 % | |
| Receivables Turnover Ratio IPRWA | high: 4.247 CNXC: 2.187 mean: 1.535 median: 1.297 low: 0.366 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 41.731 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.201 | |
| CapEx To Revenue | -0.026 | |
| CapEx To Depreciation | -1.146 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 9.1 B | |
| Net Invested Capital | $ 9.2 B | |
| Invested Capital | $ 9.2 B | |
| Net Tangible Assets | $ -2.93 B | |
| Net Working Capital | $ 1.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.174 | |
| Current Ratio | 1.562 | |
| Current Ratio QoQ | -2.809 % | |
| Current Ratio YoY | -0.724 % | |
| Current Ratio IPRWA | high: 3.07 mean: 1.613 CNXC: 1.562 median: 1.42 low: 0.345 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.715 | |
| Cost Of Debt | 1.254 % | |
| Interest Coverage Ratio | 2.548 | |
| Interest Coverage Ratio QoQ | 51.108 % | |
| Interest Coverage Ratio YoY | 91.995 % | |
| Interest Coverage Ratio IPRWA | high: 63.267 mean: 21.25 median: 19.06 CNXC: 2.548 low: -51.208 |
|
| Operating Cash Flow Ratio | 0.146 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 12.533 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.029 | |
| Dividend Payout Ratio | 0.248 | |
| Dividend Rate | $ 0.35 | |
| Dividend Yield | 0.007 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.113 % | |
| Revenue Growth | 2.725 % | |
| Revenue Growth QoQ | 43.195 % | |
| Revenue Growth YoY | 869.751 % | |
| Revenue Growth IPRWA | high: 8.642 % CNXC: 2.725 % mean: 0.3 % median: -0.742 % low: -9.629 % |
|
| Earnings Growth | -50.37 % | |
| Earnings Growth QoQ | 1461.376 % | |
| Earnings Growth YoY | -852.802 % | |
| Earnings Growth IPRWA | high: 93.333 % mean: -22.134 % median: -35.53 % CNXC: -50.37 % low: -162.5 % |
|
| MARGINS | ||
| Gross Margin | 34.431 % | |
| Gross Margin QoQ | -1.867 % | |
| Gross Margin YoY | -4.881 % | |
| Gross Margin IPRWA | high: 68.885 % CNXC: 34.431 % mean: 32.126 % median: 29.581 % low: 2.919 % |
|
| EBIT Margin | 7.388 % | |
| EBIT Margin QoQ | 40.483 % | |
| EBIT Margin YoY | 64.47 % | |
| EBIT Margin IPRWA | high: 19.722 % median: 11.971 % mean: 11.617 % CNXC: 7.388 % low: -9.64 % |
|
| Return On Sales (ROS) | 5.919 % | |
| Return On Sales QoQ | 12.55 % | |
| Return On Sales YoY | 31.768 % | |
| Return On Sales IPRWA | high: 18.799 % mean: 12.021 % median: 10.395 % CNXC: 5.919 % low: -5.051 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 159.7 M | |
| Free Cash Flow Yield | 4.839 % | |
| Free Cash Flow Yield QoQ | -10.917 % | |
| Free Cash Flow Yield YoY | 59.808 % | |
| Free Cash Flow Yield IPRWA | high: 11.995 % CNXC: 4.839 % median: 2.337 % mean: 2.011 % low: -12.113 % |
|
| Free Cash Growth | -11.616 % | |
| Free Cash Growth QoQ | -97.514 % | |
| Free Cash Growth YoY | -58.066 % | |
| Free Cash Growth IPRWA | high: 560.368 % mean: 51.891 % median: 8.277 % CNXC: -11.616 % low: -866.027 % |
|
| Free Cash To Net Income | 1.813 | |
| Cash Flow Margin | 11.804 % | |
| Cash Flow To Earnings | 3.327 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 0.71 % | |
| Return On Assets QoQ | 104.611 % | |
| Return On Assets YoY | 418.248 % | |
| Return On Assets IPRWA | high: 5.843 % mean: 1.916 % median: 1.477 % CNXC: 0.71 % low: -5.216 % |
|
| Return On Capital Employed (ROCE) | 1.764 % | |
| Return On Equity (ROE) | 0.02 | |
| Return On Equity QoQ | 106.098 % | |
| Return On Equity YoY | 408.271 % | |
| Return On Equity IPRWA | high: 0.176 mean: 0.045 median: 0.038 CNXC: 0.02 low: -0.101 |
|
| DuPont ROE | 2.044 % | |
| Return On Invested Capital (ROIC) | 1.582 % | |
| Return On Invested Capital QoQ | 40.124 % | |
| Return On Invested Capital YoY | -105.699 % | |
| Return On Invested Capital IPRWA | high: 9.634 % mean: 3.65 % median: 2.966 % CNXC: 1.582 % low: -1.884 % |
|