Recent News
On November 17, 2025 the board declared a quarterly cash dividend of $0.155 per share payable December 15, 2025 to shareholders of record as of December 1, 2025, reaffirming the company’s ongoing capital-return program.
Technical Analysis
ADX at 30.7 indicates a strong directional move currently active; that strength raises the probability that the current directional bias will persist into the near term.
DI+ sits at 30.44 with a peak-and-reversal pattern, which reads as bearish for directional bias; DI- at 15.98 shows a dip-and-reversal pattern that also signals increasing downside pressure under the rules governing directional-index shifts.
MACD measures 0.67 against a signal line of 0.65 and therefore registers a slight cross above the signal line; however, the MACD trend shows a peak-and-reversal, which indicates waning bullish momentum despite the near-term crossover.
MRO at 25.03 (peak-and-reversal) places the market price above the WMDST target and signals potential for mean reversion; the positive MRO implies pressure toward downside to reconcile price and target.
RSI at 56.27 with a peak-and-reversal pattern points to weakening short-term momentum from a modestly bullish level rather than an overbought condition.
Price trades above the 200-day average ($26.46) and near the 20-day average ($32.79), so long-term trend remains constructive while very-short-term momentum shows hesitation; the 12-day EMA at $32.54 carries a peak-and-reversal tag, reinforcing the short-term exhaustion signal.
Bollinger bands place the close ($33.07) just below the upper 1σ band ($33.62), suggesting limited immediate upside without renewed momentum; volume sits below recent averages, indicating muted participation behind the current price level.
Fundamental Analysis
Earnings per share came in at $1.03 versus an estimate of $0.90, producing an EPS surprise of +14.44%, which supports the recent positive headline on profitability.
Operating (EBIT) margin stands at 9.58%; QoQ operating-margin improvement reached +41.36% while YoY operating-margin change measured +8.93%. The EBIT margin sits above the industry peer median (7.91%) but below the industry peer mean (12.546%), indicating margin performance better than many peers but not yet sector-leading.
Revenue totaled $122,540,000. Reported revenue growth shows 15.99% on one measure, while YoY revenue growth reads -3.59% on the year-over-year metric—those figures highlight mixed top-line signals across different measurement windows and merit watchfulness as the company lapped varying comparisons.
Gross margin reached 40.21%, up 5.54 percentage points YoY, reflecting favorable brand mix and pricing actions during the period. Operating expense ratio increased modestly, leaving operating margin expansion smaller than gross-margin gains but still positive.
Working-capital dynamics show a cash-conversion cycle of 242.47 days—well above the industry peer mean of ~106.84 days—indicating inventory and receivables remain elevated and tying significant capital into operations; inventories total $193.6M. Net working capital sits at $181.1M and change in working capital posted a $14.456M outflow over the period.
Leverage measures present mixed signals: debt-to-EBITDA approaches 9.92x while interest-coverage runs at ~4.71x. Total debt approximates $141.2M with net debt of $135.7M; while coverage remains positive, debt multiple relative to EBITDA signals higher leverage than typical low-leverage peers.
Cash flow shows operating cash flow of -$3.33M and free cash flow of -$5.17M; free-cash-flow yield equals -2.49%. Net income registered $7.21M, producing a retained-earnings base of $170.65M and book value near $32.86 per share. The firm continues dividend distributions (quarterly $0.155) with a dividend coverage ratio of 6.22 and payout ratio of 16.07%.
Valuation context: P/E sits at 26.88 with a forward P/E of 33.70; price-to-book trades near 0.84 while the enterprise multiple measures 24.24. The current valuation as determined by WMDST: over-valued. These valuation multiples, alongside elevated leverage and negative free cash flow, constrain the fundamental upside despite stronger gross margins and an EPS beat.
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 | $ 2.8 M |
| Operating Cash Flow | $ -3.33 M | |
| Capital Expenditures | $ -1.84 M | |
| Change In Working Capital | $ -14.46 M | |
| Dividends Paid | $ -1.16 M | |
| Cash Flow Delta | $ 540.0 K | |
| End Period Cash Flow | $ 3.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 122.5 M | |
| Forward Revenue | $ 24.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 73.3 M | |
| Depreciation | $ 2.5 M | |
| Depreciation and Amortization | $ 2.5 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 110.8 M | |
| PROFITABILITY | ||
| Gross Profit | $ 49.3 M | |
| EBITDA | $ 14.2 M | |
| EBIT | $ 11.7 M | |
| Operating Income | $ 11.7 M | |
| Interest Income | — | |
| Interest Expense | $ 2.5 M | |
| Net Interest Income | $ -2.49 M | |
| Income Before Tax | $ 9.2 M | |
| Tax Provision | $ 2.0 M | |
| Tax Rate | 22.0 % | |
| Net Income | $ 7.2 M | |
| Net Income From Continuing Operations | $ 7.2 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.90 | |
| EPS Actual | $ 1.03 | |
| EPS Difference | $ 0.13 | |
| EPS Surprise | 14.444 % | |
| Forward EPS | $ 0.78 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 494.0 M | |
| Intangible Assets | $ 151.6 M | |
| Net Tangible Assets | $ 94.5 M | |
| Total Current Assets | $ 285.2 M | |
| Cash and Short-Term Investments | $ 3.3 M | |
| Cash | $ 3.3 M | |
| Net Receivables | $ 82.6 M | |
| Inventory | $ 193.6 M | |
| Long-Term Investments | $ 1.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 63.3 M | |
| Short-Term Debt | $ 8.4 M | |
| Total Current Liabilities | $ 104.2 M | |
| Net Debt | $ 135.7 M | |
| Total Debt | $ 141.2 M | |
| Total Liabilities | $ 247.9 M | |
| EQUITY | ||
| Total Equity | $ 246.1 M | |
| Retained Earnings | $ 170.6 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 32.86 | |
| Shares Outstanding | 7.488 M | |
| Revenue Per-Share | $ 16.36 | |
| VALUATION | Market Capitalization | $ 207.3 M |
| Enterprise Value | $ 345.2 M | |
| Enterprise Multiple | 24.243 | |
| Enterprise Multiple QoQ | -26.953 % | |
| Enterprise Multiple YoY | 36.403 % | |
| Enterprise Multiple IPRWA | high: 97.054 median: 84.66 mean: 73.486 RCKY: 24.243 low: -16.472 |
|
| EV/R | 2.817 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.007 | |
| Asset To Liability | 1.993 | |
| Debt To Capital | 0.365 | |
| Debt To Assets | 0.286 | |
| Debt To Assets QoQ | -0.021 % | |
| Debt To Assets YoY | 1524.318 % | |
| Debt To Assets IPRWA | high: 0.783 mean: 0.327 median: 0.296 RCKY: 0.286 low: 0.038 |
|
| Debt To Equity | 0.574 | |
| Debt To Equity QoQ | 1.862 % | |
| Debt To Equity YoY | 1466.667 % | |
| Debt To Equity IPRWA | high: 6.666 mean: 0.91 median: 0.821 RCKY: 0.574 low: 0.046 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.842 | |
| Price To Book QoQ | 7.871 % | |
| Price To Book YoY | -13.352 % | |
| Price To Book IPRWA | high: 9.067 median: 7.923 mean: 6.807 RCKY: 0.842 low: -1.48 |
|
| Price To Earnings (P/E) | 26.875 | |
| Price To Earnings QoQ | -32.642 % | |
| Price To Earnings YoY | -30.526 % | |
| Price To Earnings IPRWA | high: 147.441 mean: 104.172 median: 98.424 RCKY: 26.875 low: -120.802 |
|
| PE/G Ratio | 0.308 | |
| Price To Sales (P/S) | 1.692 | |
| Price To Sales QoQ | -4.264 % | |
| Price To Sales YoY | -12.665 % | |
| Price To Sales IPRWA | high: 17.59 mean: 9.437 median: 9.104 RCKY: 1.692 low: 0.27 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 33.698 | |
| Forward PE/G | 0.386 | |
| Forward P/S | 8.146 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.002 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.254 | |
| Asset Turnover Ratio QoQ | 12.891 % | |
| Asset Turnover Ratio YoY | 4.519 % | |
| Asset Turnover Ratio IPRWA | high: 0.375 median: 0.317 mean: 0.308 RCKY: 0.254 low: 0.026 |
|
| Receivables Turnover | 1.646 | |
| Receivables Turnover Ratio QoQ | 9.673 % | |
| Receivables Turnover Ratio YoY | 0.627 % | |
| Receivables Turnover Ratio IPRWA | high: 9.456 mean: 2.971 median: 2.422 RCKY: 1.646 low: 0.693 |
|
| Inventory Turnover | 0.385 | |
| Inventory Turnover Ratio QoQ | 11.881 % | |
| Inventory Turnover Ratio YoY | -5.811 % | |
| Inventory Turnover Ratio IPRWA | high: 0.869 median: 0.744 mean: 0.732 RCKY: 0.385 low: 0.226 |
|
| Days Sales Outstanding (DSO) | 55.451 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 242.471 | |
| Cash Conversion Cycle Days QoQ | 9.432 % | |
| Cash Conversion Cycle Days YoY | 6.858 % | |
| Cash Conversion Cycle Days IPRWA | high: 302.197 RCKY: 242.471 mean: 106.844 median: 95.172 low: -55.897 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.677 | |
| CapEx To Revenue | -0.015 | |
| CapEx To Depreciation | -0.734 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 376.8 M | |
| Net Invested Capital | $ 385.1 M | |
| Invested Capital | $ 385.1 M | |
| Net Tangible Assets | $ 94.5 M | |
| Net Working Capital | $ 181.1 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.032 | |
| Current Ratio | 2.739 | |
| Current Ratio QoQ | -0.73 % | |
| Current Ratio YoY | -1.989 % | |
| Current Ratio IPRWA | high: 3.928 RCKY: 2.739 median: 2.19 mean: 2.136 low: 0.339 |
|
| Quick Ratio | 0.88 | |
| Quick Ratio QoQ | 11.725 % | |
| Quick Ratio YoY | -5.757 % | |
| Quick Ratio IPRWA | high: 2.318 median: 1.447 mean: 1.345 RCKY: 0.88 low: 0.065 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 9.918 | |
| Cost Of Debt | 1.41 % | |
| Interest Coverage Ratio | 4.707 | |
| Interest Coverage Ratio QoQ | 65.699 % | |
| Interest Coverage Ratio YoY | 48.633 % | |
| Interest Coverage Ratio IPRWA | high: 47.355 RCKY: 4.707 mean: -1.51 median: -13.836 low: -25.85 |
|
| Operating Cash Flow Ratio | -0.11 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 91.304 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 6.223 | |
| Dividend Payout Ratio | 0.161 | |
| Dividend Rate | $ 0.15 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.882 % | |
| Revenue Growth | 15.99 % | |
| Revenue Growth QoQ | -316.491 % | |
| Revenue Growth YoY | -3.588 % | |
| Revenue Growth IPRWA | high: 59.184 % RCKY: 15.99 % mean: 10.404 % median: 5.614 % low: -33.951 % |
|
| Earnings Growth | 87.273 % | |
| Earnings Growth QoQ | -453.934 % | |
| Earnings Growth YoY | -75.273 % | |
| Earnings Growth IPRWA | high: 335.294 % median: 95.699 % RCKY: 87.273 % mean: 80.935 % low: -600.0 % |
|
| MARGINS | ||
| Gross Margin | 40.212 % | |
| Gross Margin QoQ | -1.845 % | |
| Gross Margin YoY | 5.541 % | |
| Gross Margin IPRWA | high: 76.294 % mean: 50.899 % median: 42.176 % RCKY: 40.212 % low: 27.732 % |
|
| EBIT Margin | 9.576 % | |
| EBIT Margin QoQ | 41.364 % | |
| EBIT Margin YoY | 8.93 % | |
| EBIT Margin IPRWA | high: 23.963 % mean: 12.546 % RCKY: 9.576 % median: 7.91 % low: -7.117 % |
|
| Return On Sales (ROS) | 9.576 % | |
| Return On Sales QoQ | 41.364 % | |
| Return On Sales YoY | 8.93 % | |
| Return On Sales IPRWA | high: 23.209 % mean: 12.601 % RCKY: 9.576 % median: 7.91 % low: -6.481 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -5.17 M | |
| Free Cash Flow Yield | -2.492 % | |
| Free Cash Flow Yield QoQ | 97.152 % | |
| Free Cash Flow Yield YoY | -259.949 % | |
| Free Cash Flow Yield IPRWA | high: 10.581 % mean: 0.061 % median: 0.014 % RCKY: -2.492 % low: -20.114 % |
|
| Free Cash Growth | 118.949 % | |
| Free Cash Growth QoQ | -121.788 % | |
| Free Cash Growth YoY | -571.608 % | |
| Free Cash Growth IPRWA | high: 221.465 % RCKY: 118.949 % mean: -93.921 % median: -95.868 % low: -285.423 % |
|
| Free Cash To Net Income | -0.716 | |
| Cash Flow Margin | -9.318 % | |
| Cash Flow To Earnings | -1.583 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.495 % | |
| Return On Assets QoQ | 94.661 % | |
| Return On Assets YoY | 33.482 % | |
| Return On Assets IPRWA | high: 7.035 % mean: 3.093 % median: 1.967 % RCKY: 1.495 % low: -10.003 % |
|
| Return On Capital Employed (ROCE) | 3.01 % | |
| Return On Equity (ROE) | 0.029 | |
| Return On Equity QoQ | 94.235 % | |
| Return On Equity YoY | 26.719 % | |
| Return On Equity IPRWA | high: 0.245 mean: 0.067 median: 0.054 RCKY: 0.029 low: -0.216 |
|
| DuPont ROE | 2.973 % | |
| Return On Invested Capital (ROIC) | 2.378 % | |
| Return On Invested Capital QoQ | 58.745 % | |
| Return On Invested Capital YoY | -98.565 % | |
| Return On Invested Capital IPRWA | high: 15.734 % mean: 5.201 % median: 3.405 % RCKY: 2.378 % low: -3.04 % |
|