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On January 30, 2026 the Board declared an irregular cash dividend of $0.70 per share, payable on or about February 24, 2026 to shareholders of record as of February 9, 2026; the company also scheduled its third-quarter fiscal 2026 results and investor call for early February. On March 26, 2026 the company published forward chartering estimates for the quarter ending March 31, 2026, reporting that it had fixed approximately 99% of calendar days at rates in excess of $58,000 per day.
Technical Analysis
ADX at 20.77 indicates an emerging strength in the market’s directional momentum, supporting the view that recent price action has moved beyond noise but has not yet established a very strong trend; this context aligns with the stock trading above its long-term average and supports a valuation narrative that values realized cash returns.
Directional indicators show DI+ at 24.88 and DI- at 16.26; DI+ has decreased while DI- has also decreased. The net configuration—DI+ above DI-—still implies directional bias toward bulls, but the recent decrease in DI+ signals waning upward conviction and the potential for consolidation against the current valuation.
MACD exhibits a peak-and-reversal pattern, which signals a shift toward bearish momentum despite MACD’s current positive reading; momentum indicators therefore caution that prior upside may be losing force and that near-term price action may test support near moving-average levels.
MRO stands at -9.13, which places the price below the model target and implies upward pressure toward convergence; the negative MRO points to modest potential for price appreciation as valuation gaps close.
RSI at 56.45 with a peak-and-reversal profile shows momentum moderating from a recent high rather than collapsing, consistent with a setup that favors range-bound trading with occasional tests of resistance rather than sustained breakouts.
Price sits above key averages: the 12-day EMA at $35.29 (increasing), the 26-day EMA at $34.58, and the 200-day average at $29.65. The 20-day band places price nearer the upper band (upper1σ $36.02), indicating the market trades in the upper portion of its short-term range; that dynamic supports an outlook of limited near-term upside unless fresh bullish momentum arrives.
Fundamental Analysis
Profitability and cash generation remain central to the valuation case. EBIT equals $54,255,176 and EBITDA $72,384,512, producing an EBIT margin of 45.23%, which sits above the industry peer mean of 23.22% and the industry peer median of 20.65%. QoQ the EBIT margin contracted by 10.91%, while YoY it expanded by 20.62%, signaling stronger operating leverage year-over-year even as recent quarter-to-quarter pressure emerged.
Revenue totaled $119,964,287 with YoY revenue growth of 54.22% and a reported overall revenue growth figure of -3.31%; QoQ revenue shows a decline of 106.98% by the supplied metric. Operating margin stands at 43.32% with operating margin YoY improvement of 15.54% and QoQ contraction of 9.44%, reflecting meaningful year-over-year recovery in rates and utilization despite short-term quarter-to-quarter variability.
EPS for the reported period came in at $1.11 versus an estimate of $1.16, a miss of $0.05 or -4.31% on the EPS surprise ratio. Trailing PE equals 24.55 while forward PE sits near 35.70; the trailing PE sits below the industry peer mean of 81.03 and below the industry peer median of 61.89, indicating comparatively lower market multiple versus peers.
Balance-sheet and cash metrics support capital returns. Cash and short-term investments total $294,492,379, net debt $218,691,032, and the cash ratio registers 1.81 with a current ratio of 2.41. Debt to assets equals 37.89%—above the industry peer mean of 30.43% but within the industry peer range—and debt-to-equity stands at 0.62. Interest coverage runs 7.68x, below the industry peer mean of 12.03x but above critical distress levels.
Free cash flow reached $67,422,628, producing a free cash flow yield of 5.79%, which compares favorably to the industry peer mean of 2.47% (industry peer mean shown for context). Dividends reflect active capital return: dividend rate $0.6479 and a dividend payout ratio of 58.69% with dividend coverage of 1.70; recent irregular cash distributions total roughly $29.9 million tied to the January declaration. These cash returns, combined with a strong cash position, underpin WMDST’s valuation stance.
Valuation conclusion: WMDST values the stock as under-valued. The valuation case rests on above-peer operating margins, robust free cash flow yield, a substantial cash balance, and recurring irregular dividends, offset by moderate leverage metrics and a forward PE that implies slower near-term earnings growth embedded in market pricing.
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 | $ 268.4 M |
| Operating Cash Flow | $ 80.8 M | |
| Capital Expenditures | $ -13.35 M | |
| Change In Working Capital | $ 4.5 M | |
| Dividends Paid | $ -27.69 M | |
| Cash Flow Delta | $ 26.2 M | |
| End Period Cash Flow | $ 294.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 120.0 M | |
| Forward Revenue | $ 23.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 57.9 M | |
| Depreciation | $ 18.1 M | |
| Depreciation and Amortization | $ 18.1 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 68.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 62.1 M | |
| EBITDA | $ 72.4 M | |
| EBIT | $ 54.3 M | |
| Operating Income | $ 52.0 M | |
| Interest Income | $ 2.7 M | |
| Interest Expense | $ 7.1 M | |
| Net Interest Income | $ -4.33 M | |
| Income Before Tax | $ 47.2 M | |
| Tax Provision | — | |
| Tax Rate | 21.0 % | |
| Net Income | $ 47.2 M | |
| Net Income From Continuing Operations | $ 47.2 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.16 | |
| EPS Actual | $ 1.11 | |
| EPS Difference | $ -0.05 | |
| EPS Surprise | -4.31 % | |
| Forward EPS | $ 0.86 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.8 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.1 B | |
| Total Current Assets | $ 392.3 M | |
| Cash and Short-Term Investments | $ 294.5 M | |
| Cash | $ 294.5 M | |
| Net Receivables | $ 1.6 M | |
| Inventory | $ 2.3 M | |
| Long-Term Investments | $ 3.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 6.7 M | |
| Short-Term Debt | $ 97.7 M | |
| Total Current Liabilities | $ 162.5 M | |
| Net Debt | $ 218.7 M | |
| Total Debt | $ 673.6 M | |
| Total Liabilities | $ 692.1 M | |
| EQUITY | ||
| Total Equity | $ 1.1 B | |
| Retained Earnings | $ 348.9 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 25.40 | |
| Shares Outstanding | 42.744 M | |
| Revenue Per-Share | $ 2.81 | |
| VALUATION | Market Capitalization | $ 1.2 B |
| Enterprise Value | $ 1.5 B | |
| Enterprise Multiple | 21.332 | |
| Enterprise Multiple QoQ | 4.099 % | |
| Enterprise Multiple YoY | 25.09 % | |
| Enterprise Multiple IPRWA | high: 144.859 median: 51.908 mean: 51.36 LPG: 21.332 low: -65.226 |
|
| EV/R | 12.871 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.638 | |
| Asset To Liability | 2.569 | |
| Debt To Capital | 0.383 | |
| Debt To Assets | 0.379 | |
| Debt To Assets QoQ | -3.425 % | |
| Debt To Assets YoY | 1180.135 % | |
| Debt To Assets IPRWA | high: 1.127 LPG: 0.379 mean: 0.304 median: 0.212 low: 0.001 |
|
| Debt To Equity | 0.62 | |
| Debt To Equity QoQ | -5.254 % | |
| Debt To Equity YoY | 1130.399 % | |
| Debt To Equity IPRWA | high: 3.344 mean: 0.843 LPG: 0.62 median: 0.446 low: -3.329 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.073 | |
| Price To Book QoQ | -6.778 % | |
| Price To Book YoY | 5.692 % | |
| Price To Book IPRWA | high: 8.357 mean: 3.681 median: 2.592 LPG: 1.073 low: -0.575 |
|
| Price To Earnings (P/E) | 24.553 | |
| Price To Earnings QoQ | 12.235 % | |
| Price To Earnings YoY | -58.341 % | |
| Price To Earnings IPRWA | high: 504.154 mean: 81.032 median: 61.889 LPG: 24.553 low: -287.212 |
|
| PE/G Ratio | -1.608 | |
| Price To Sales (P/S) | 9.711 | |
| Price To Sales QoQ | -1.866 % | |
| Price To Sales YoY | -27.791 % | |
| Price To Sales IPRWA | high: 30.237 LPG: 9.711 mean: 9.211 median: 8.204 low: 0.004 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 35.703 | |
| Forward PE/G | -2.339 | |
| Forward P/S | 58.794 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.192 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.067 | |
| Asset Turnover Ratio QoQ | -4.082 % | |
| Asset Turnover Ratio YoY | 53.867 % | |
| Asset Turnover Ratio IPRWA | high: 0.449 mean: 0.16 median: 0.156 LPG: 0.067 low: -0.007 |
|
| Receivables Turnover | 59.099 | |
| Receivables Turnover Ratio QoQ | -5.294 % | |
| Receivables Turnover Ratio YoY | -25.815 % | |
| Receivables Turnover Ratio IPRWA | LPG: 59.099 high: 5.354 mean: 2.366 median: 1.431 low: -0.071 |
|
| Inventory Turnover | 24.964 | |
| Inventory Turnover Ratio QoQ | 12.26 % | |
| Inventory Turnover Ratio YoY | 18.186 % | |
| Inventory Turnover Ratio IPRWA | LPG: 24.964 high: 22.314 mean: 3.065 median: 1.549 low: 0.0 |
|
| Days Sales Outstanding (DSO) | 1.544 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -5.889 | |
| Cash Conversion Cycle Days QoQ | -52.524 % | |
| Cash Conversion Cycle Days YoY | -53.679 % | |
| Cash Conversion Cycle Days IPRWA | high: 241.381 mean: 70.076 median: 50.09 LPG: -5.889 low: -110.041 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.522 | |
| CapEx To Revenue | -0.111 | |
| CapEx To Depreciation | -0.737 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.5 B | |
| Net Invested Capital | $ 1.6 B | |
| Invested Capital | $ 1.6 B | |
| Net Tangible Assets | $ 1.1 B | |
| Net Working Capital | $ 229.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.813 | |
| Current Ratio | 2.415 | |
| Current Ratio QoQ | -27.283 % | |
| Current Ratio YoY | -39.148 % | |
| Current Ratio IPRWA | high: 9.333 LPG: 2.415 mean: 1.867 median: 1.347 low: 0.134 |
|
| Quick Ratio | 2.401 | |
| Quick Ratio QoQ | -27.246 % | |
| Quick Ratio YoY | -39.153 % | |
| Quick Ratio IPRWA | high: 4.561 LPG: 2.401 mean: 1.263 median: 0.986 low: 0.132 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 9.306 | |
| Cost Of Debt | 0.814 % | |
| Interest Coverage Ratio | 7.678 | |
| Interest Coverage Ratio QoQ | -7.359 % | |
| Interest Coverage Ratio YoY | 125.534 % | |
| Interest Coverage Ratio IPRWA | high: 39.087 mean: 12.032 LPG: 7.678 median: 7.432 low: -33.464 |
|
| Operating Cash Flow Ratio | 0.408 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 11.4 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.704 | |
| Dividend Payout Ratio | 0.587 | |
| Dividend Rate | $ 0.65 | |
| Dividend Yield | 0.024 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.136 % | |
| Revenue Growth | -3.305 % | |
| Revenue Growth QoQ | -106.984 % | |
| Revenue Growth YoY | 54.223 % | |
| Revenue Growth IPRWA | high: 34.86 % mean: 4.85 % median: 3.138 % LPG: -3.305 % low: -35.909 % |
|
| Earnings Growth | -15.267 % | |
| Earnings Growth QoQ | -103.964 % | |
| Earnings Growth YoY | -166.794 % | |
| Earnings Growth IPRWA | high: 100.0 % median: 8.725 % mean: -2.802 % LPG: -15.267 % low: -180.0 % |
|
| MARGINS | ||
| Gross Margin | 51.736 % | |
| Gross Margin QoQ | -9.229 % | |
| Gross Margin YoY | 38.224 % | |
| Gross Margin IPRWA | high: 112.815 % LPG: 51.736 % mean: 33.239 % median: 23.734 % low: -55.164 % |
|
| EBIT Margin | 45.226 % | |
| EBIT Margin QoQ | -10.911 % | |
| EBIT Margin YoY | 20.619 % | |
| EBIT Margin IPRWA | high: 89.962 % LPG: 45.226 % mean: 23.224 % median: 20.651 % low: -37.704 % |
|
| Return On Sales (ROS) | 43.321 % | |
| Return On Sales QoQ | -9.435 % | |
| Return On Sales YoY | 15.538 % | |
| Return On Sales IPRWA | high: 89.962 % LPG: 43.321 % mean: 23.617 % median: 17.014 % low: -39.283 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 67.4 M | |
| Free Cash Flow Yield | 5.788 % | |
| Free Cash Flow Yield QoQ | 114.37 % | |
| Free Cash Flow Yield YoY | 193.212 % | |
| Free Cash Flow Yield IPRWA | high: 16.533 % LPG: 5.788 % median: 2.575 % mean: 2.468 % low: -11.389 % |
|
| Free Cash Growth | 103.385 % | |
| Free Cash Growth QoQ | -106.55 % | |
| Free Cash Growth YoY | -267.863 % | |
| Free Cash Growth IPRWA | high: 667.847 % mean: 120.651 % LPG: 103.385 % median: 100.993 % low: -381.04 % |
|
| Free Cash To Net Income | 1.429 | |
| Cash Flow Margin | 55.264 % | |
| Cash Flow To Earnings | 1.405 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 2.653 % | |
| Return On Assets QoQ | -15.456 % | |
| Return On Assets YoY | 128.51 % | |
| Return On Assets IPRWA | high: 9.738 % LPG: 2.653 % median: 2.132 % mean: 2.065 % low: -7.028 % |
|
| Return On Capital Employed (ROCE) | 3.359 % | |
| Return On Equity (ROE) | 0.043 | |
| Return On Equity QoQ | -16.291 % | |
| Return On Equity YoY | 117.459 % | |
| Return On Equity IPRWA | high: 0.291 mean: 0.073 LPG: 0.043 median: 0.04 low: -0.247 |
|
| DuPont ROE | 4.386 % | |
| Return On Invested Capital (ROIC) | 2.681 % | |
| Return On Invested Capital QoQ | -14.153 % | |
| Return On Invested Capital YoY | -130.369 % | |
| Return On Invested Capital IPRWA | high: 10.203 % mean: 3.441 % median: 2.72 % LPG: 2.681 % low: -9.387 % |
|