Recent News
On March 9, 2026 the company announced CEO Gary Owens will step down on April 12, 2026, and the board appointed Dr. Siddhartha Kadia as President and Chief Executive Officer effective April 13, 2026. The company presented at the J.P. Morgan Healthcare conference on January 14, 2026, outlining its commercial strategy and division-level priorities. The board affirmed the quarterly dividend of $0.16 per share in mid-January 2026.
Technical Analysis
ADX / DI+ / DI-: ADX at 25.45 signals a developing trend strength; DI- increasing while DI+ decreases points to prevailing downside directional pressure that reinforces a cautious near-term price bias.
MACD: MACD sits negative at -0.69 with the MACD trend decreasing and the signal at 1.14, indicating bearish momentum and no bullish MACD crossover to support an immediate momentum reversal.
MRO (Momentum/Regression Oscillator): MRO equals -20.96 and the MRO trend is decreasing; the negative reading implies the current price sits below the WMDST target and signals potential for mean reversion if momentum stabilizes, though the widening MRO gap currently favors continued recovery rather than immediate strength.
RSI: RSI at 52.47 with a decreasing trend reflects neutral-to-weak momentum, consistent with mixed short-term internals rather than an oversold or overbought extreme.
Price vs. Moving Averages and Bands: Last close at $80.60 sits marginally above the 200-day average ($80.38) but below the 20-day average ($90.23) and the 12/26-day EMAs (12-day EMA $86.92 decreasing; 26-day EMA $88.18). The close trades between the lower 2x and 1x Bollinger bands, indicating price near the lower volatility envelope and leaving room for either a stabilizing mean reversion or further downside if momentum picks up.
Volume & Volatility: Intraday volume of 292,256 exceeds 10- and 50-day averages, showing episodic interest; 42- and 52-week volatility both read 4%, and short-term beta (42-day 1.15) implies sensitivity to market moves with moderate idiosyncratic swings.
Fundamental Analysis
Profitability & Margins: EBIT equals $7,632,000, producing an EBIT margin of 11.72%, up approximately 10.78% year-over-year and up about 46.43% quarter-over-quarter. The EBIT margin sits below the industry peer mean of 20.83% but shows meaningful sequential improvement that supports margin-led valuation upside.
Revenue & Earnings: Total revenue stands at $65,126,000. Reported EPS equaled $1.76 versus an estimate of $1.47, a beat of $0.29 or roughly 19.7%. Forward EPS equals $1.3475 with a forward P/E of 57.09.
Cash Flow & Liquidity: Operating cash flow totaled $18,754,000 and free cash flow $18,022,000, yielding a free cash flow yield of 4.07%, which exceeds the industry peer mean of 0.91%. Cash and short-term investments equal $28,975,000 while net debt measures $137,152,000, leaving a net leverage profile that management has actively been managing through prior refinancing actions.
Leverage & Coverage: Total debt equals $180,979,000 with debt-to-assets at 41.62% and debt-to-equity near 0.97. Debt-to-EBITDA runs about 13.56x and interest coverage stands at 2.51x, indicating coverage remains limited and debt leverage sits above peer averages; however recent principal reductions and scheduled repayments target leverage reduction.
Efficiency & Returns: Asset turnover sits at 0.1506 and return on equity at 1.94%, both modest; QoQ improvements in return metrics outpace YoY figures, signaling operational gearing that has begun to lift returns during the latest reporting periods.
Valuation: WMDST values the stock as under-valued. Market capitalization equals $442,509,400 with enterprise value $594,513,400 producing an enterprise multiple near 44.54 and an EV-to-revenue ratio of 9.13. Price multiples show a P/E of 45.51 and a price-to-book of 2.37x; relative to the industry peer medians and means provided, several cash-flow and margin metrics imply a valuation gap supportive of re-rating if margins and leverage improvements continue.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-03 |
| NEXT REPORT DATE: | 2026-05-05 |
| CASH FLOW | Begin Period Cash Flow | $ 20.4 M |
| Operating Cash Flow | $ 18.8 M | |
| Capital Expenditures | $ -732.00 K | |
| Change In Working Capital | $ 4.5 M | |
| Dividends Paid | $ -884.00 K | |
| Cash Flow Delta | $ 8.6 M | |
| End Period Cash Flow | $ 29.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 65.1 M | |
| Forward Revenue | $ 33.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 23.3 M | |
| Depreciation | $ 1.3 M | |
| Depreciation and Amortization | $ 5.7 M | |
| Research and Development | $ 5.0 M | |
| Total Operating Expenses | $ 57.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 41.8 M | |
| EBITDA | $ 13.3 M | |
| EBIT | $ 7.6 M | |
| Operating Income | $ 8.0 M | |
| Interest Income | — | |
| Interest Expense | $ 3.0 M | |
| Net Interest Income | $ -3.04 M | |
| Income Before Tax | $ 4.6 M | |
| Tax Provision | $ 966.0 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ 3.6 M | |
| Net Income From Continuing Operations | $ 3.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.47 | |
| EPS Actual | $ 1.76 | |
| EPS Difference | $ 0.29 | |
| EPS Surprise | 19.728 % | |
| Forward EPS | $ 1.35 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 434.8 M | |
| Intangible Assets | $ 278.9 M | |
| Net Tangible Assets | $ -92.26 M | |
| Total Current Assets | $ 105.6 M | |
| Cash and Short-Term Investments | $ 29.0 M | |
| Cash | $ 29.0 M | |
| Net Receivables | $ 40.2 M | |
| Inventory | $ 26.6 M | |
| Long-Term Investments | $ 17.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 5.3 M | |
| Short-Term Debt | $ 5.2 M | |
| Total Current Liabilities | $ 54.4 M | |
| Net Debt | $ 137.2 M | |
| Total Debt | $ 181.0 M | |
| Total Liabilities | $ 248.2 M | |
| EQUITY | ||
| Total Equity | $ 186.7 M | |
| Retained Earnings | $ -180.73 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 33.79 | |
| Shares Outstanding | 5.525 M | |
| Revenue Per-Share | $ 11.79 | |
| VALUATION | Market Capitalization | $ 442.5 M |
| Enterprise Value | $ 594.5 M | |
| Enterprise Multiple | 44.543 | |
| Enterprise Multiple QoQ | -17.325 % | |
| Enterprise Multiple YoY | -65.041 % | |
| Enterprise Multiple IPRWA | high: 158.913 median: 85.622 mean: 83.337 MLAB: 44.543 low: -144.328 |
|
| EV/R | 9.129 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.329 | |
| Asset To Liability | 1.752 | |
| Debt To Capital | 0.492 | |
| Debt To Assets | 0.416 | |
| Debt To Assets QoQ | -5.946 % | |
| Debt To Assets YoY | 80.294 % | |
| Debt To Assets IPRWA | high: 0.717 MLAB: 0.416 mean: 0.279 median: 0.262 low: 0.009 |
|
| Debt To Equity | 0.969 | |
| Debt To Equity QoQ | -9.15 % | |
| Debt To Equity YoY | 49.104 % | |
| Debt To Equity IPRWA | high: 2.909 MLAB: 0.969 mean: 0.536 median: 0.472 low: 0.01 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.37 | |
| Price To Book QoQ | 3.932 % | |
| Price To Book YoY | -48.189 % | |
| Price To Book IPRWA | high: 10.911 mean: 5.97 median: 5.854 MLAB: 2.37 low: 0.42 |
|
| Price To Earnings (P/E) | 45.508 | |
| Price To Earnings QoQ | 29.79 % | |
| Price To Earnings YoY | -109.054 % | |
| Price To Earnings IPRWA | high: 269.298 mean: 119.908 median: 86.718 MLAB: 45.508 low: -315.07 |
|
| PE/G Ratio | 0.156 | |
| Price To Sales (P/S) | 6.795 | |
| Price To Sales QoQ | 1.394 % | |
| Price To Sales YoY | -39.869 % | |
| Price To Sales IPRWA | high: 30.65 median: 23.476 mean: 20.13 MLAB: 6.795 low: 0.541 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 57.092 | |
| Forward PE/G | 0.196 | |
| Forward P/S | 13.252 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 7.889 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.151 | |
| Asset Turnover Ratio QoQ | 7.344 % | |
| Asset Turnover Ratio YoY | 6.758 % | |
| Asset Turnover Ratio IPRWA | high: 0.371 MLAB: 0.151 median: 0.133 mean: 0.127 low: 0.003 |
|
| Receivables Turnover | 1.622 | |
| Receivables Turnover Ratio QoQ | 5.671 % | |
| Receivables Turnover Ratio YoY | 1.774 % | |
| Receivables Turnover Ratio IPRWA | high: 2.907 mean: 1.882 median: 1.867 MLAB: 1.622 low: 0.47 |
|
| Inventory Turnover | 0.859 | |
| Inventory Turnover Ratio QoQ | 2.52 % | |
| Inventory Turnover Ratio YoY | 7.69 % | |
| Inventory Turnover Ratio IPRWA | high: 1.821 MLAB: 0.859 mean: 0.671 median: 0.548 low: 0.167 |
|
| Days Sales Outstanding (DSO) | 56.273 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 141.954 | |
| Cash Conversion Cycle Days QoQ | -4.892 % | |
| Cash Conversion Cycle Days YoY | -8.238 % | |
| Cash Conversion Cycle Days IPRWA | high: 453.393 mean: 171.614 median: 165.533 MLAB: 141.954 low: -118.454 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.271 | |
| CapEx To Revenue | -0.011 | |
| CapEx To Depreciation | -0.576 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 347.7 M | |
| Net Invested Capital | $ 352.8 M | |
| Invested Capital | $ 352.8 M | |
| Net Tangible Assets | $ -92.26 M | |
| Net Working Capital | $ 51.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.533 | |
| Current Ratio | 1.942 | |
| Current Ratio QoQ | -3.743 % | |
| Current Ratio YoY | 173.09 % | |
| Current Ratio IPRWA | high: 12.891 mean: 2.701 MLAB: 1.942 median: 1.893 low: 0.168 |
|
| Quick Ratio | 1.454 | |
| Quick Ratio QoQ | 0.734 % | |
| Quick Ratio YoY | 173.923 % | |
| Quick Ratio IPRWA | high: 12.347 mean: 2.054 median: 1.508 MLAB: 1.454 low: 0.437 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.56 | |
| Cost Of Debt | 1.291 % | |
| Interest Coverage Ratio | 2.514 | |
| Interest Coverage Ratio QoQ | 48.006 % | |
| Interest Coverage Ratio YoY | 1043.066 % | |
| Interest Coverage Ratio IPRWA | high: 33.446 median: 25.964 mean: 20.981 MLAB: 2.514 low: -66.822 |
|
| Operating Cash Flow Ratio | 0.194 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 20.161 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.106 | |
| Dividend Payout Ratio | 0.244 | |
| Dividend Rate | $ 0.16 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.045 % | |
| Revenue Growth | 7.226 % | |
| Revenue Growth QoQ | 260.399 % | |
| Revenue Growth YoY | -16.54 % | |
| Revenue Growth IPRWA | high: 20.682 % median: 12.969 % mean: 10.148 % MLAB: 7.226 % low: -11.548 % |
|
| Earnings Growth | 291.111 % | |
| Earnings Growth QoQ | 2279.524 % | |
| Earnings Growth YoY | -319.706 % | |
| Earnings Growth IPRWA | MLAB: 291.111 % high: 188.889 % mean: 10.336 % median: 6.383 % low: -142.105 % |
|
| MARGINS | ||
| Gross Margin | 64.176 % | |
| Gross Margin QoQ | 4.414 % | |
| Gross Margin YoY | 1.445 % | |
| Gross Margin IPRWA | high: 89.02 % median: 64.538 % MLAB: 64.176 % mean: 62.803 % low: 1.515 % |
|
| EBIT Margin | 11.719 % | |
| EBIT Margin QoQ | 46.433 % | |
| EBIT Margin YoY | 1077.789 % | |
| EBIT Margin IPRWA | high: 33.51 % median: 20.883 % mean: 20.828 % MLAB: 11.719 % low: -143.917 % |
|
| Return On Sales (ROS) | 12.245 % | |
| Return On Sales QoQ | 57.431 % | |
| Return On Sales YoY | 1130.653 % | |
| Return On Sales IPRWA | high: 35.479 % mean: 22.141 % median: 21.965 % MLAB: 12.245 % low: -146.78 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 18.0 M | |
| Free Cash Flow Yield | 4.073 % | |
| Free Cash Flow Yield QoQ | 132.477 % | |
| Free Cash Flow Yield YoY | 64.102 % | |
| Free Cash Flow Yield IPRWA | MLAB: 4.073 % high: 3.107 % median: 0.969 % mean: 0.91 % low: -10.193 % |
|
| Free Cash Growth | 152.763 % | |
| Free Cash Growth QoQ | -78.379 % | |
| Free Cash Growth YoY | -62.379 % | |
| Free Cash Growth IPRWA | MLAB: 152.763 % high: 115.002 % mean: 4.771 % median: -0.761 % low: -446.345 % |
|
| Free Cash To Net Income | 4.965 | |
| Cash Flow Margin | 16.195 % | |
| Cash Flow To Earnings | 2.906 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.839 % | |
| Return On Assets QoQ | 46.678 % | |
| Return On Assets YoY | -323.138 % | |
| Return On Assets IPRWA | high: 5.088 % mean: 1.999 % median: 1.556 % MLAB: 0.839 % low: -17.15 % |
|
| Return On Capital Employed (ROCE) | 2.006 % | |
| Return On Equity (ROE) | 0.019 | |
| Return On Equity QoQ | 40.159 % | |
| Return On Equity YoY | -280.0 % | |
| Return On Equity IPRWA | high: 0.174 mean: 0.031 median: 0.028 MLAB: 0.019 low: -0.303 |
|
| DuPont ROE | 1.988 % | |
| Return On Invested Capital (ROIC) | 1.708 % | |
| Return On Invested Capital QoQ | 57.13 % | |
| Return On Invested Capital YoY | 153.037 % | |
| Return On Invested Capital IPRWA | high: 5.899 % mean: 2.696 % median: 2.127 % MLAB: 1.708 % low: -14.233 % |
|