Recent News
On January 14, 2026, the company announced expansion of its paper and packaging footprint in Asia, noting three new satellite plants started in 2025, a doubled capacity at an Indian satellite, and an additional satellite expected to commission in early 2026. On January 21, 2026, Minerals Technologies declared a quarterly cash dividend of $0.12 per share, payable March 6, 2026, with a record date of February 13, 2026. On February 27, 2026, the company announced participation at upcoming investor conferences.
Technical Analysis
Directional indicators show a strong trend environment (ADX 27.5) with downside bias: DI- at 24.41 trending higher while DI+ at 14.93 trends lower. This configuration signals a strengthening bearish directional bias that increases the likelihood of further short-term price pressure against the current valuation.
Momentum measures confirm the bearish tilt. MACD sits negative at -0.07 and is declining, while the MACD signal line remains higher at 0.56; negative, falling MACD below its signal line indicates continuing bearish momentum that undermines near-term upside potential.
MRO reads 10.91 and is decreasing; the positive MRO indicates price currently sits above the model target and, combined with its downward trend, implies pressure for price to converge toward the assessed value over coming weeks.
RSI at 54.68 and trending down points to weakening buying pressure without an immediate oversold condition; the indicator suggests consolidation with a slight bearish bias rather than an abrupt reversal.
Price versus averages: the last close $67.87 stands above the 200-day average ($61.64), signaling longer-term support, yet below the 20-day average (≈$69.60) and with short-term EMAs trending down (12-day EMA $69.15, 26-day EMA $69.45). This mix indicates that while medium-term structural support exists, short-term moving averages apply resistance to immediate rallies.
Bollinger placement shows the price sitting near the lower 1-standard-deviation band (~$67.86), suggesting limited immediate downside room within the recent range but leaving room for a break if bearish momentum accelerates. Ichimoku readings place price below the Kijun-sen ($70.08), adding a short-term resistance reference; the SuperTrend upper band at $71.54 also sits above current price as a near-term cap. Volume sits modestly above the 10-day average but below the 200-day average, indicating the recent moves occur on mixed participation and do not yet show broad conviction.
Fundamental Analysis
Earnings: Reported EPS $1.27 versus an estimate of $1.28 (EPS difference -$0.01, surprise ratio -0.78%), a marginal miss that aligns with near-term margin pressure. Net income stands at $37,200,000 with operating income $66,500,000 and EBIT $59,500,000.
Margins and margin trends show compression. Gross margin equals 23.965%, while EBIT margin equals 11.453%; EBIT margin declined QoQ by 13.39% and YoY by 27.64%. Compared with the industry peer mean EBIT margin (21.514%) and industry peer median EBIT margin (26.061%), the company’s EBIT margin sits below those central measures but above the industry peer low. Operating margin at 12.801% fell QoQ by 13.07% and YoY by 19.12%, reinforcing reduced operating leverage through the period.
Revenues and growth: Total revenue $519,500,000. Reported revenue growth shows a short-term decline of -2.42% while year-over-year revenue growth reads 92.61% (reported figure). Cash flow: operating cash flow $64,300,000 and free cash flow $31,900,000; free cash flow yield 1.64%, which sits above the industry peer mean free cash flow yield (1.184%). Free cash flow declined QoQ and YoY, indicating pressure on cash generation relative to prior periods.
Balance sheet and leverage: Cash and short-term investments $332,600,000 against net debt $632,700,000. Debt-to-EBITDA registers at 11.61, and interest coverage equals 4.61, indicating elevated leverage relative to earnings and tighter interest coverage. Current ratio 2.08 provides near-term liquidity, though the current ratio fell YoY by 26.84%.
Valuation context: Price-to-earnings ratio sits at 49.33 (forward PE ~34.41) while price-to-book equals 1.13, below the industry peer mean price-to-book of 4.20 and the industry peer median of 5.32. WMDST values the stock as under-valued. The combination of a below-average price-to-book, modest free cash flow yield above the industry peer mean, and compressed margins supports WMDST’s under-valued conclusion, albeit offset by elevated leverage and declining margin trends.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-01-29 |
| NEXT REPORT DATE: | 2026-04-30 |
| CASH FLOW | Begin Period Cash Flow | $ 319.6 M |
| Operating Cash Flow | $ 64.3 M | |
| Capital Expenditures | $ -32.40 M | |
| Change In Working Capital | $ -17.20 M | |
| Dividends Paid | $ -3.80 M | |
| Cash Flow Delta | $ 9.4 M | |
| End Period Cash Flow | $ 329.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 519.5 M | |
| Forward Revenue | $ 190.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 395.0 M | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | $ 5.8 M | |
| Total Operating Expenses | $ 453.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 124.5 M | |
| EBITDA | $ 82.8 M | |
| EBIT | $ 59.5 M | |
| Operating Income | $ 66.5 M | |
| Interest Income | — | |
| Interest Expense | $ 12.9 M | |
| Net Interest Income | $ -12.90 M | |
| Income Before Tax | $ 46.6 M | |
| Tax Provision | $ 9.6 M | |
| Tax Rate | 20.601 % | |
| Net Income | $ 37.2 M | |
| Net Income From Continuing Operations | $ 38.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.28 | |
| EPS Actual | $ 1.27 | |
| EPS Difference | $ -0.01 | |
| EPS Surprise | -0.781 % | |
| Forward EPS | $ 1.75 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.5 B | |
| Intangible Assets | $ 1.1 B | |
| Net Tangible Assets | $ 588.8 M | |
| Total Current Assets | $ 1.2 B | |
| Cash and Short-Term Investments | $ 332.6 M | |
| Cash | $ 329.0 M | |
| Net Receivables | $ 400.1 M | |
| Inventory | $ 350.2 M | |
| Long-Term Investments | $ 148.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 187.9 M | |
| Short-Term Debt | $ 6.7 M | |
| Total Current Liabilities | $ 555.4 M | |
| Net Debt | $ 632.7 M | |
| Total Debt | $ 961.7 M | |
| Total Liabilities | $ 1.7 B | |
| EQUITY | ||
| Total Equity | $ 1.7 B | |
| Retained Earnings | $ 2.5 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 55.21 | |
| Shares Outstanding | 31.034 M | |
| Revenue Per-Share | $ 16.74 | |
| VALUATION | Market Capitalization | $ 1.9 B |
| Enterprise Value | $ 2.6 B | |
| Enterprise Multiple | 31.081 | |
| Enterprise Multiple QoQ | 13.114 % | |
| Enterprise Multiple YoY | 55.361 % | |
| Enterprise Multiple IPRWA | high: 201.531 mean: 70.071 median: 69.978 MTX: 31.081 low: -23.043 |
|
| EV/R | 4.954 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.025 | |
| Asset To Liability | 2.018 | |
| Debt To Capital | 0.359 | |
| Debt To Assets | 0.277 | |
| Debt To Assets QoQ | -1.925 % | |
| Debt To Assets YoY | 8006.14 % | |
| Debt To Assets IPRWA | high: 0.677 mean: 0.368 median: 0.323 MTX: 0.277 low: 0.005 |
|
| Debt To Equity | 0.561 | |
| Debt To Equity QoQ | -3.829 % | |
| Debt To Equity YoY | 8353.012 % | |
| Debt To Equity IPRWA | high: 3.443 mean: 1.186 median: 0.734 MTX: 0.561 low: -2.333 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.135 | |
| Price To Book QoQ | 0.028 % | |
| Price To Book YoY | -19.149 % | |
| Price To Book IPRWA | high: 7.87 median: 5.316 mean: 4.205 MTX: 1.135 low: -7.896 |
|
| Price To Earnings (P/E) | 49.334 | |
| Price To Earnings QoQ | 10.721 % | |
| Price To Earnings YoY | -3.744 % | |
| Price To Earnings IPRWA | high: 152.705 median: 134.49 mean: 115.439 MTX: 49.334 low: -140.562 |
|
| PE/G Ratio | -2.731 | |
| Price To Sales (P/S) | 3.743 | |
| Price To Sales QoQ | 4.849 % | |
| Price To Sales YoY | -20.918 % | |
| Price To Sales IPRWA | high: 23.197 median: 18.503 mean: 17.002 MTX: 3.743 low: 0.853 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 34.406 | |
| Forward PE/G | -1.905 | |
| Forward P/S | 10.233 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 6.39 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.15 | |
| Asset Turnover Ratio QoQ | -2.623 % | |
| Asset Turnover Ratio YoY | -1.749 % | |
| Asset Turnover Ratio IPRWA | high: 0.321 MTX: 0.15 mean: 0.13 median: 0.101 low: 0.003 |
|
| Receivables Turnover | 1.277 | |
| Receivables Turnover Ratio QoQ | 0.672 % | |
| Receivables Turnover Ratio YoY | -1.677 % | |
| Receivables Turnover Ratio IPRWA | high: 3.579 mean: 1.708 median: 1.702 MTX: 1.277 low: 0.278 |
|
| Inventory Turnover | 1.107 | |
| Inventory Turnover Ratio QoQ | 1.215 % | |
| Inventory Turnover Ratio YoY | -1.759 % | |
| Inventory Turnover Ratio IPRWA | high: 2.952 median: 2.174 mean: 1.837 MTX: 1.107 low: 0.542 |
|
| Days Sales Outstanding (DSO) | 71.445 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 109.42 | |
| Cash Conversion Cycle Days QoQ | -0.661 % | |
| Cash Conversion Cycle Days YoY | 2.797 % | |
| Cash Conversion Cycle Days IPRWA | high: 328.394 MTX: 109.42 mean: 54.025 median: 40.342 low: -25.808 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.866 | |
| CapEx To Revenue | -0.062 | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.7 B | |
| Net Invested Capital | $ 2.7 B | |
| Invested Capital | $ 2.7 B | |
| Net Tangible Assets | $ 588.8 M | |
| Net Working Capital | $ 600.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.599 | |
| Current Ratio | 2.081 | |
| Current Ratio QoQ | 4.893 % | |
| Current Ratio YoY | -26.837 % | |
| Current Ratio IPRWA | high: 4.382 MTX: 2.081 mean: 1.191 median: 0.877 low: 0.797 |
|
| Quick Ratio | 1.45 | |
| Quick Ratio QoQ | 5.948 % | |
| Quick Ratio YoY | -26.896 % | |
| Quick Ratio IPRWA | high: 2.933 MTX: 1.45 mean: 0.9 median: 0.742 low: 0.471 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 11.615 | |
| Cost Of Debt | 1.071 % | |
| Interest Coverage Ratio | 4.612 | |
| Interest Coverage Ratio QoQ | -9.586 % | |
| Interest Coverage Ratio YoY | -29.127 % | |
| Interest Coverage Ratio IPRWA | high: 16.611 mean: 8.391 median: 8.366 MTX: 4.612 low: -5.752 |
|
| Operating Cash Flow Ratio | 0.099 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 44.402 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 9.789 | |
| Dividend Payout Ratio | 0.102 | |
| Dividend Rate | $ 0.12 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.295 % | |
| Revenue Growth | -2.423 % | |
| Revenue Growth QoQ | -466.012 % | |
| Revenue Growth YoY | 92.607 % | |
| Revenue Growth IPRWA | high: 42.575 % median: -2.019 % MTX: -2.423 % mean: -2.812 % low: -23.729 % |
|
| Earnings Growth | -18.065 % | |
| Earnings Growth QoQ | 55.558 % | |
| Earnings Growth YoY | 2628.852 % | |
| Earnings Growth IPRWA | high: 18.265 % MTX: -18.065 % median: -20.293 % mean: -22.277 % low: -217.241 % |
|
| MARGINS | ||
| Gross Margin | 23.965 % | |
| Gross Margin QoQ | -6.871 % | |
| Gross Margin YoY | -6.434 % | |
| Gross Margin IPRWA | high: 60.41 % median: 48.117 % mean: 43.185 % MTX: 23.965 % low: 7.604 % |
|
| EBIT Margin | 11.453 % | |
| EBIT Margin QoQ | -13.386 % | |
| EBIT Margin YoY | -27.636 % | |
| EBIT Margin IPRWA | high: 34.241 % median: 26.061 % mean: 21.514 % MTX: 11.453 % low: -6.716 % |
|
| Return On Sales (ROS) | 12.801 % | |
| Return On Sales QoQ | -13.072 % | |
| Return On Sales YoY | -19.119 % | |
| Return On Sales IPRWA | high: 36.378 % median: 24.384 % mean: 21.402 % MTX: 12.801 % low: -3.006 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 31.9 M | |
| Free Cash Flow Yield | 1.641 % | |
| Free Cash Flow Yield QoQ | -28.466 % | |
| Free Cash Flow Yield YoY | -4.87 % | |
| Free Cash Flow Yield IPRWA | high: 12.585 % MTX: 1.641 % mean: 1.184 % median: 0.773 % low: -6.674 % |
|
| Free Cash Growth | -26.835 % | |
| Free Cash Growth QoQ | -192.554 % | |
| Free Cash Growth YoY | -235.325 % | |
| Free Cash Growth IPRWA | high: 228.736 % median: -5.981 % mean: -17.933 % MTX: -26.835 % low: -332.845 % |
|
| Free Cash To Net Income | 0.858 | |
| Cash Flow Margin | 10.587 % | |
| Cash Flow To Earnings | 1.478 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.074 % | |
| Return On Assets QoQ | -13.666 % | |
| Return On Assets YoY | -32.495 % | |
| Return On Assets IPRWA | high: 4.12 % median: 1.771 % mean: 1.595 % MTX: 1.074 % low: -2.408 % |
|
| Return On Capital Employed (ROCE) | 2.042 % | |
| Return On Equity (ROE) | 0.022 | |
| Return On Equity QoQ | -15.427 % | |
| Return On Equity YoY | -29.764 % | |
| Return On Equity IPRWA | high: 0.104 mean: 0.051 median: 0.04 MTX: 0.022 low: -0.055 |
|
| DuPont ROE | 2.196 % | |
| Return On Invested Capital (ROIC) | 1.766 % | |
| Return On Invested Capital QoQ | -12.531 % | |
| Return On Invested Capital YoY | -109.145 % | |
| Return On Invested Capital IPRWA | high: 6.545 % mean: 2.786 % median: 2.664 % MTX: 1.766 % low: -1.282 % |
|