Recent News
On February 2, 2026 the company scheduled Fourth Quarter and Year‑End 2025 earnings release for February 23 and an earnings call for February 24. On January 20, 2026 Ziff Davis announced participation in the Susquehanna Technology Conference on February 26. In mid‑November 2025 the company announced participation in two investor conferences for December.
Technical Analysis
Directional indicators show a bearish bias: DI+ reached a peak and reversed while DI− experienced a dip-and-reversal; ADX at 20.32 registers emerging strength, which suggests the recent directional moves carry limited conviction for now.
MACD sits at 0.41 below its signal line at 0.79 with a peak-and-reversal MACD trend, which indicates bearish momentum and reduces the probability of a sustained bullish breakout in the immediate term.
MRO stands at 24.11 and trends downward; that positive reading implies price currently sits above the model target and carries downside pressure as momentum decelerates relative to the target.
RSI at 51.15 has undergone a peak-and-reversal, which signals fading upside momentum despite a neutral absolute reading; this complements the MACD signal for near-term downside preference among momentum traders.
Price structure favors short-term resistance: shares trade at $34.41, matching the 200‑day average ($34.41) while remaining below the 20‑day average ($38.12) and the 12‑day EMA ($37.26 — peak and reversal). Bollinger bands show the close beneath the 1× lower band, adding evidence of elevated short-term volatility. Ichimoku values place price inside/near the cloud (Senkou A $34.31; Senkou B $34.50), implying limited trend conviction until price clears the cloud. SuperTrend upper boundary at $38.87 provides a nearer resistance level to monitor.
Fundamental Analysis
Revenue totaled $363,711,000 with YoY revenue growth at 3.27% and QoQ revenue contraction of -54.47%; the QoQ decline reflects period timing rather than a sustained sales trend. Gross margin stands at 85.39%, essentially flat YoY (+0.52% YoY). Operating margin registers 7.82% with an EBIT margin of 4.30%.
EBIT margin (4.30%) compares below the industry peer mean (41.148%) and below the industry peer median (24.838%), placing the company on the lower end of the industry peer range for EBIT margin despite positive absolute earnings before interest and taxes. EBIT margin fell -52.73% QoQ and -147.61% YoY, signaling material margin compression versus the prior periods.
EPS came in at $1.76 versus an estimate of $1.78, producing an EPS surprise of -1.12%. Forward EPS equals $1.83 with a forward P/E near 19.23; trailing P/E at 20.48 declined -22.28% QoQ and -29.24% YoY in percentage terms, reflecting multiple contraction over recent periods.
Balance-sheet and cash metrics provide defensive footing: cash and short‑term investments total $503,368,000 with free cash flow at $108,163,000 and a free‑cash‑flow yield of 7.50%, which sits above the industry peer mean of 0.812% and inside the higher end of the industry peer range. Current ratio at 1.61 and net debt $362,569,000 (total debt $865,937,000) produce an interest‑coverage ratio of 2.41, which declined QoQ and YoY.
Operational efficiency shows mixed signals: asset turnover at 0.10397 lags the industry peer mean (0.18929) but improved slightly QoQ (+3.84%). Return on equity registers -0.20% and return on assets -0.10%, both negative and weaker YoY, while earnings growth stands positive at 41.94% (QoQ growth +378.06%).
Valuation summary: WMDST values the stock as under‑valued. That conclusion rests on a free‑cash‑flow yield of ~7.5%, a trailing P/E near 20.5 with a forward P/E near 19.2, and enterprise metrics that imply a conservative multiple relative to expected cash generation; margin compression and short‑term operating volatility explain the valuation discount.
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 | $ 457.3 M |
| Operating Cash Flow | $ 138.3 M | |
| Capital Expenditures | $ -30.14 M | |
| Change In Working Capital | $ 26.5 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 46.1 M | |
| End Period Cash Flow | $ 503.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 363.7 M | |
| Forward Revenue | $ -1.85 B | |
| COSTS | ||
| Cost Of Revenue | $ 53.2 M | |
| Depreciation | $ 57.3 M | |
| Depreciation and Amortization | $ 57.3 M | |
| Research and Development | $ 15.4 M | |
| Total Operating Expenses | $ 335.3 M | |
| PROFITABILITY | ||
| Gross Profit | $ 310.6 M | |
| EBITDA | $ 73.0 M | |
| EBIT | $ 15.6 M | |
| Operating Income | $ 28.4 M | |
| Interest Income | — | |
| Interest Expense | $ 6.5 M | |
| Net Interest Income | $ -6.50 M | |
| Income Before Tax | $ 9.1 M | |
| Tax Provision | $ 12.8 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ -3.60 M | |
| Net Income From Continuing Operations | $ -3.60 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.78 | |
| EPS Actual | $ 1.76 | |
| EPS Difference | $ -0.02 | |
| EPS Surprise | -1.124 % | |
| Forward EPS | $ 1.83 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.5 B | |
| Intangible Assets | $ 2.0 B | |
| Net Tangible Assets | $ -182.60 M | |
| Total Current Assets | $ 1.1 B | |
| Cash and Short-Term Investments | $ 503.4 M | |
| Cash | $ 503.4 M | |
| Net Receivables | $ 473.2 M | |
| Inventory | — | |
| Long-Term Investments | $ 36.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 147.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 698.0 M | |
| Net Debt | $ 362.6 M | |
| Total Debt | $ 865.9 M | |
| Total Liabilities | $ 1.7 B | |
| EQUITY | ||
| Total Equity | $ 1.8 B | |
| Retained Earnings | $ 1.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 44.98 | |
| Shares Outstanding | 39.993 M | |
| Revenue Per-Share | $ 9.09 | |
| VALUATION | Market Capitalization | $ 1.4 B |
| Enterprise Value | $ 1.8 B | |
| Enterprise Multiple | 24.728 | |
| Enterprise Multiple QoQ | 21.157 % | |
| Enterprise Multiple YoY | -70.956 % | |
| Enterprise Multiple IPRWA | high: 279.681 mean: 59.406 median: 55.385 ZD: 24.728 low: -157.057 |
|
| EV/R | 4.96 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.933 | |
| Asset To Liability | 2.072 | |
| Debt To Capital | 0.325 | |
| Debt To Assets | 0.249 | |
| Debt To Assets QoQ | 1.285 % | |
| Debt To Assets YoY | 8038.889 % | |
| Debt To Assets IPRWA | high: 0.89 ZD: 0.249 mean: 0.095 median: 0.057 low: 0.001 |
|
| Debt To Equity | 0.481 | |
| Debt To Equity QoQ | 2.498 % | |
| Debt To Equity YoY | 7963.149 % | |
| Debt To Equity IPRWA | high: 1.778 ZD: 0.481 mean: 0.145 median: 0.064 low: -0.923 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.801 | |
| Price To Book QoQ | 3.876 % | |
| Price To Book YoY | -30.78 % | |
| Price To Book IPRWA | high: 11.238 mean: 7.742 median: 7.289 ZD: 0.801 low: -1.614 |
|
| Price To Earnings (P/E) | 20.48 | |
| Price To Earnings QoQ | -22.279 % | |
| Price To Earnings YoY | -29.235 % | |
| Price To Earnings IPRWA | high: 247.775 mean: 80.906 median: 69.381 ZD: 20.48 low: -128.849 |
|
| PE/G Ratio | 0.488 | |
| Price To Sales (P/S) | 3.963 | |
| Price To Sales QoQ | -1.798 % | |
| Price To Sales YoY | -30.918 % | |
| Price To Sales IPRWA | high: 54.08 mean: 29.277 median: 27.551 ZD: 3.963 low: 0.003 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 19.225 | |
| Forward PE/G | 0.458 | |
| Forward P/S | -0.764 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -15.674 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.104 | |
| Asset Turnover Ratio QoQ | 3.835 % | |
| Asset Turnover Ratio YoY | 4.137 % | |
| Asset Turnover Ratio IPRWA | high: 0.5 mean: 0.189 median: 0.182 ZD: 0.104 low: 0.003 |
|
| Receivables Turnover | 0.73 | |
| Receivables Turnover Ratio QoQ | 7.899 % | |
| Receivables Turnover Ratio YoY | -4.903 % | |
| Receivables Turnover Ratio IPRWA | high: 11.52 mean: 2.135 median: 1.643 ZD: 0.73 low: 0.143 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 124.962 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -143.408 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 125.332 median: 15.557 mean: 3.883 ZD: -143.408 low: -343.916 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.853 | |
| CapEx To Revenue | -0.083 | |
| CapEx To Depreciation | -0.526 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.7 B | |
| Net Invested Capital | $ 2.7 B | |
| Invested Capital | $ 2.7 B | |
| Net Tangible Assets | $ -182.60 M | |
| Net Working Capital | $ 426.5 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.721 | |
| Current Ratio | 1.611 | |
| Current Ratio QoQ | 1.247 % | |
| Current Ratio YoY | 13.061 % | |
| Current Ratio IPRWA | high: 8.871 mean: 1.816 ZD: 1.611 median: 1.508 low: 0.217 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 11.869 | |
| Cost Of Debt | 0.593 % | |
| Interest Coverage Ratio | 2.407 | |
| Interest Coverage Ratio QoQ | -50.985 % | |
| Interest Coverage Ratio YoY | -130.332 % | |
| Interest Coverage Ratio IPRWA | high: 197.383 mean: 82.775 median: 8.431 ZD: 2.407 low: -113.554 |
|
| Operating Cash Flow Ratio | 0.159 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 268.37 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.207 % | |
| Revenue Growth | 3.266 % | |
| Revenue Growth QoQ | -54.468 % | |
| Revenue Growth YoY | -68.037 % | |
| Revenue Growth IPRWA | high: 25.814 % mean: 6.719 % median: 4.74 % ZD: 3.266 % low: -28.624 % |
|
| Earnings Growth | 41.935 % | |
| Earnings Growth QoQ | 378.055 % | |
| Earnings Growth YoY | 7.573 % | |
| Earnings Growth IPRWA | high: 177.966 % ZD: 41.935 % median: 11.765 % mean: -1.771 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 85.386 % | |
| Gross Margin QoQ | -0.824 % | |
| Gross Margin YoY | 0.523 % | |
| Gross Margin IPRWA | high: 97.596 % ZD: 85.386 % mean: 65.054 % median: 54.61 % low: -1.845 % |
|
| EBIT Margin | 4.3 % | |
| EBIT Margin QoQ | -52.726 % | |
| EBIT Margin YoY | -147.609 % | |
| EBIT Margin IPRWA | high: 49.713 % mean: 41.148 % median: 24.838 % ZD: 4.3 % low: -49.635 % |
|
| Return On Sales (ROS) | 7.82 % | |
| Return On Sales QoQ | -17.745 % | |
| Return On Sales YoY | -186.581 % | |
| Return On Sales IPRWA | high: 49.713 % mean: 31.418 % median: 15.318 % ZD: 7.82 % low: -59.443 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 108.2 M | |
| Free Cash Flow Yield | 7.503 % | |
| Free Cash Flow Yield QoQ | 295.937 % | |
| Free Cash Flow Yield YoY | 89.997 % | |
| Free Cash Flow Yield IPRWA | high: 14.053 % ZD: 7.503 % median: 0.868 % mean: 0.812 % low: -14.281 % |
|
| Free Cash Growth | 301.481 % | |
| Free Cash Growth QoQ | -147.241 % | |
| Free Cash Growth YoY | 37.223 % | |
| Free Cash Growth IPRWA | high: 483.929 % ZD: 301.481 % mean: 265.912 % median: 155.77 % low: -537.101 % |
|
| Free Cash To Net Income | -30.062 | |
| Cash Flow Margin | 30.476 % | |
| Cash Flow To Earnings | -30.807 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -0.103 % | |
| Return On Assets QoQ | -113.752 % | |
| Return On Assets YoY | -92.493 % | |
| Return On Assets IPRWA | high: 8.647 % mean: 5.054 % median: 3.291 % ZD: -0.103 % low: -11.927 % |
|
| Return On Capital Employed (ROCE) | 0.563 % | |
| Return On Equity (ROE) | -0.002 | |
| Return On Equity QoQ | -113.986 % | |
| Return On Equity YoY | -92.785 % | |
| Return On Equity IPRWA | high: 0.135 mean: 0.069 median: 0.037 ZD: -0.002 low: -0.144 |
|
| DuPont ROE | -0.198 % | |
| Return On Invested Capital (ROIC) | 0.464 % | |
| Return On Invested Capital QoQ | -52.846 % | |
| Return On Invested Capital YoY | -93.091 % | |
| Return On Invested Capital IPRWA | high: 16.42 % mean: 7.88 % median: 3.592 % ZD: 0.464 % low: -14.369 % |
|