Recent News
On January 9, 2026 Haemonetics completed the acquisition of Vivasure, a percutaneous vessel-closure business, closing the deal announced earlier in the quarter. A related announcement on January 12, 2026 noted that a partner seller expects up to $21.0 million in proceeds tied to that transaction. The company recently signaled plans to settle approximately $300.0 million of convertible notes due in March 2026 using cash on hand and borrowing under its existing credit facility.
Technical Analysis
Directional indicators show an emerging trend: ADX at 26.37 indicates developing trend strength while DI+ (21.08) increases and DI- (24.21) decreases, a configuration that reads as bullish directional momentum tied to the recent operational narrative.
MACD sits negative at -1.51 but the MACD trend rises and the MACD line recently crossed above its signal line (-2.56), which constitutes a bullish shift in momentum despite the still-negative absolute reading.
MRO registers at -2.85 and is increasing; a negative MRO implies the price sits below the WMDST target, implying upward pressure toward that target if momentum persists.
RSI at 44.38 and rising reflects building buying interest without overbought conditions, supporting the case that momentum has room to run while price attempts to rejoin longer-term averages.
Price relationships tighten near short-term support/resistance: the close at $64.67 sits above the 12-day EMA ($62.95) and 20-day average ($61.54) but below the 50-day ($69.83) and 200-day ($66.08) averages; Bollinger upper band (1σ) sits at $64.25, placing the current price marginally above the one‑sigma band and indicating short-term upside exhaustion while trend indicators continue improving. Volume near the 10‑day average confirms participation in the move without significant divergence.
Fundamental Analysis
Revenue totaled $338.97 million and gross profit reached $202.39 million, yielding a gross margin of 59.71%, up 7.52 percentage points year-over-year. WMDST notes YoY margin expansion supports operating leverage even amid revenue transition.
Operating income stands at $68.11 million with an operating margin of 20.09% and EBIT of $67.40 million producing an EBIT margin of 19.88%. That EBIT margin registers slightly below the industry peer mean of 21.69% but sits well above the industry peer low; margin expansion QoQ of 11.27% and YoY improvement of 17.40% point to improving profitability dynamics.
Earnings per share arrived at $1.31 versus an estimate of $1.25, an EPS beat of $0.06 or a 4.8% surprise, reflecting margin gains and cash-flow strength rather than revenue growth alone.
Cash generation shows strength: operating cash flow $93.56 million and free cash flow $87.22 million translate to a cash flow margin of 25.23% and free cash flow yield of 2.59%. Cash and short-term investments total $363.37 million against net debt of $861.37 million; management indicated intent to retire convertible notes, which would alter the leverage profile if executed as planned.
Leverage metrics run high: total debt $1,224.73 million, debt-to-EBITDA ~12.92, and debt-to-equity 1.34. Interest coverage near 9.08x reduces near-term solvency pressure, but absolute leverage remains a valuation consideration until the convertible notes settlement completes.
Growth metrics show moderate top-line expansion on an annual basis: revenue growth 3.56% and a substantial sequential increase quarter-over-quarter; earnings growth remains subdued but trending positive on a trailing basis. Return on equity 4.91% and return on assets 1.81% improved YoY, consistent with margin-led earnings recovery rather than accelerated revenue growth.
Valuation context: WMDST values the stock as under-valued. Market multiples show a P/E of 54.99 and a price-to-book of 3.70; the P/E sits below the industry peer mean while the price-to-book sits below the industry peer mean as well, which aligns with WMDST’s under-valued assessment when combined with strong cash conversion and improving margins.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-05 |
| NEXT REPORT DATE: | 2026-05-07 |
| CASH FLOW | Begin Period Cash Flow | $ 296.4 M |
| Operating Cash Flow | $ 93.6 M | |
| Capital Expenditures | $ -6.35 M | |
| Change In Working Capital | $ 11.8 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 66.9 M | |
| End Period Cash Flow | $ 363.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 339.0 M | |
| Forward Revenue | $ 118.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 136.6 M | |
| Depreciation | $ 16.5 M | |
| Depreciation and Amortization | $ 27.4 M | |
| Research and Development | $ 14.2 M | |
| Total Operating Expenses | $ 270.9 M | |
| PROFITABILITY | ||
| Gross Profit | $ 202.4 M | |
| EBITDA | $ 94.8 M | |
| EBIT | $ 67.4 M | |
| Operating Income | $ 68.1 M | |
| Interest Income | — | |
| Interest Expense | $ 7.4 M | |
| Net Interest Income | $ -7.42 M | |
| Income Before Tax | $ 60.0 M | |
| Tax Provision | $ 15.2 M | |
| Tax Rate | 25.4 % | |
| Net Income | $ 44.7 M | |
| Net Income From Continuing Operations | $ 44.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.25 | |
| EPS Actual | $ 1.31 | |
| EPS Difference | $ 0.06 | |
| EPS Surprise | 4.8 % | |
| Forward EPS | $ 1.33 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.5 B | |
| Intangible Assets | $ 1.0 B | |
| Net Tangible Assets | $ -115.11 M | |
| Total Current Assets | $ 943.7 M | |
| Cash and Short-Term Investments | $ 363.4 M | |
| Cash | $ 363.4 M | |
| Net Receivables | $ 195.7 M | |
| Inventory | $ 321.2 M | |
| Long-Term Investments | $ 216.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 48.7 M | |
| Short-Term Debt | $ 304.7 M | |
| Total Current Liabilities | $ 539.9 M | |
| Net Debt | $ 861.4 M | |
| Total Debt | $ 1.2 B | |
| Total Liabilities | $ 1.6 B | |
| EQUITY | ||
| Total Equity | $ 911.5 M | |
| Retained Earnings | $ 381.1 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 19.46 | |
| Shares Outstanding | 46.829 M | |
| Revenue Per-Share | $ 7.24 | |
| VALUATION | Market Capitalization | $ 3.4 B |
| Enterprise Value | $ 4.2 B | |
| Enterprise Multiple | 44.677 | |
| Enterprise Multiple QoQ | 12.694 % | |
| Enterprise Multiple YoY | 11.191 % | |
| Enterprise Multiple IPRWA | high: 158.913 mean: 87.055 median: 85.622 HAE: 44.677 low: -16.761 |
|
| EV/R | 12.492 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.733 | |
| Asset To Liability | 1.577 | |
| Debt To Capital | 0.573 | |
| Debt To Assets | 0.492 | |
| Debt To Assets QoQ | -1.956 % | |
| Debt To Assets YoY | 24484.0 % | |
| Debt To Assets IPRWA | high: 0.717 HAE: 0.492 mean: 0.284 median: 0.262 low: 0.011 |
|
| Debt To Equity | 1.344 | |
| Debt To Equity QoQ | -6.832 % | |
| Debt To Equity YoY | 23895.0 % | |
| Debt To Equity IPRWA | high: 2.909 HAE: 1.344 mean: 0.535 median: 0.472 low: 0.012 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.701 | |
| Price To Book QoQ | 25.171 % | |
| Price To Book YoY | -12.913 % | |
| Price To Book IPRWA | high: 10.911 mean: 6.033 median: 5.854 HAE: 3.701 low: 0.61 |
|
| Price To Earnings (P/E) | 54.985 | |
| Price To Earnings QoQ | 30.021 % | |
| Price To Earnings YoY | -14.708 % | |
| Price To Earnings IPRWA | high: 269.298 mean: 125.774 median: 79.324 HAE: 54.985 low: -92.377 |
|
| PE/G Ratio | 17.456 | |
| Price To Sales (P/S) | 9.951 | |
| Price To Sales QoQ | 29.733 % | |
| Price To Sales YoY | -10.0 % | |
| Price To Sales IPRWA | high: 26.836 median: 23.476 mean: 20.573 HAE: 9.951 low: 0.541 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 53.918 | |
| Forward PE/G | 17.117 | |
| Forward P/S | 28.584 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.277 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.137 | |
| Asset Turnover Ratio QoQ | 2.959 % | |
| Asset Turnover Ratio YoY | -0.312 % | |
| Asset Turnover Ratio IPRWA | high: 0.371 HAE: 0.137 mean: 0.125 median: 0.122 low: 0.024 |
|
| Receivables Turnover | 1.683 | |
| Receivables Turnover Ratio QoQ | 4.857 % | |
| Receivables Turnover Ratio YoY | 2.736 % | |
| Receivables Turnover Ratio IPRWA | high: 2.907 mean: 1.907 median: 1.867 HAE: 1.683 low: 0.47 |
|
| Inventory Turnover | 0.416 | |
| Inventory Turnover Ratio QoQ | 9.189 % | |
| Inventory Turnover Ratio YoY | -0.577 % | |
| Inventory Turnover Ratio IPRWA | high: 1.343 mean: 0.662 median: 0.548 HAE: 0.416 low: 0.186 |
|
| Days Sales Outstanding (DSO) | 54.213 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 242.468 | |
| Cash Conversion Cycle Days QoQ | -8.48 % | |
| Cash Conversion Cycle Days YoY | 4.687 % | |
| Cash Conversion Cycle Days IPRWA | high: 433.862 HAE: 242.468 mean: 171.31 median: 165.533 low: -2.143 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.839 | |
| CapEx To Revenue | -0.019 | |
| CapEx To Depreciation | -0.386 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.8 B | |
| Net Invested Capital | $ 2.1 B | |
| Invested Capital | $ 2.1 B | |
| Net Tangible Assets | $ -115.11 M | |
| Net Working Capital | $ 403.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.673 | |
| Current Ratio | 1.748 | |
| Current Ratio QoQ | 6.532 % | |
| Current Ratio YoY | -55.994 % | |
| Current Ratio IPRWA | high: 10.0 mean: 2.679 median: 1.893 HAE: 1.748 low: 0.168 |
|
| Quick Ratio | 1.153 | |
| Quick Ratio QoQ | 12.203 % | |
| Quick Ratio YoY | -54.818 % | |
| Quick Ratio IPRWA | high: 9.809 mean: 2.027 median: 1.508 HAE: 1.153 low: 0.437 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.922 | |
| Cost Of Debt | 0.452 % | |
| Interest Coverage Ratio | 9.082 | |
| Interest Coverage Ratio QoQ | 11.886 % | |
| Interest Coverage Ratio YoY | 40.191 % | |
| Interest Coverage Ratio IPRWA | high: 33.446 median: 25.964 mean: 21.849 HAE: 9.082 low: -29.155 |
|
| Operating Cash Flow Ratio | 0.158 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 37.99 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.996 % | |
| Revenue Growth | 3.56 % | |
| Revenue Growth QoQ | 93.268 % | |
| Revenue Growth YoY | 305.929 % | |
| Revenue Growth IPRWA | high: 20.682 % median: 12.969 % mean: 10.379 % HAE: 3.56 % low: -10.847 % |
|
| Earnings Growth | 3.15 % | |
| Earnings Growth QoQ | -79.618 % | |
| Earnings Growth YoY | -49.6 % | |
| Earnings Growth IPRWA | high: 500.0 % mean: 10.58 % median: 5.417 % HAE: 3.15 % low: -383.333 % |
|
| MARGINS | ||
| Gross Margin | 59.707 % | |
| Gross Margin QoQ | 0.353 % | |
| Gross Margin YoY | 7.522 % | |
| Gross Margin IPRWA | high: 89.02 % median: 64.538 % mean: 62.902 % HAE: 59.707 % low: 13.674 % |
|
| EBIT Margin | 19.883 % | |
| EBIT Margin QoQ | 11.265 % | |
| EBIT Margin YoY | 17.401 % | |
| EBIT Margin IPRWA | high: 30.155 % mean: 21.686 % median: 20.883 % HAE: 19.883 % low: -16.946 % |
|
| Return On Sales (ROS) | 20.094 % | |
| Return On Sales QoQ | -1.942 % | |
| Return On Sales YoY | 18.647 % | |
| Return On Sales IPRWA | high: 35.479 % mean: 22.895 % median: 21.965 % HAE: 20.094 % low: -4.912 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 87.2 M | |
| Free Cash Flow Yield | 2.586 % | |
| Free Cash Flow Yield QoQ | -38.923 % | |
| Free Cash Flow Yield YoY | 182.932 % | |
| Free Cash Flow Yield IPRWA | high: 4.073 % HAE: 2.586 % median: 0.969 % mean: 0.906 % low: -5.003 % |
|
| Free Cash Growth | -17.958 % | |
| Free Cash Growth QoQ | -102.644 % | |
| Free Cash Growth YoY | 69.639 % | |
| Free Cash Growth IPRWA | high: 152.763 % mean: 5.711 % median: -0.761 % HAE: -17.958 % low: -145.018 % |
|
| Free Cash To Net Income | 1.949 | |
| Cash Flow Margin | 25.226 % | |
| Cash Flow To Earnings | 1.911 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.814 % | |
| Return On Assets QoQ | 14.956 % | |
| Return On Assets YoY | 22.32 % | |
| Return On Assets IPRWA | high: 5.088 % mean: 2.107 % HAE: 1.814 % median: 1.556 % low: -6.678 % |
|
| Return On Capital Employed (ROCE) | 3.454 % | |
| Return On Equity (ROE) | 0.049 | |
| Return On Equity QoQ | 7.772 % | |
| Return On Equity YoY | 18.747 % | |
| Return On Equity IPRWA | high: 0.061 HAE: 0.049 mean: 0.031 median: 0.028 low: -0.036 |
|
| DuPont ROE | 5.082 % | |
| Return On Invested Capital (ROIC) | 2.354 % | |
| Return On Invested Capital QoQ | 10.672 % | |
| Return On Invested Capital YoY | -116.768 % | |
| Return On Invested Capital IPRWA | high: 5.899 % mean: 2.752 % HAE: 2.354 % median: 2.127 % low: -1.411 % |
|