Recent News
On February 27, 2026 the company disclosed issuance of 45 million Class A ordinary shares for future ADS issuance and reported ongoing share repurchases in March 2026. A February 12, 2026 deadline closed claims related to a $4.95M investor settlement. On April 24, 2026 the company filed its annual report and published a 2025 ESG report. On April 27, 2026 an insider-related entity moved 7,177,119 Class A ordinary shares between affiliated entities in a Form 4 filing.
Technical Analysis
ADX at 15.0 shows no trend, weighing against a strong directional bias despite other bullish signals; this limits conviction for a sustained breakout absent a rising ADX.
DI+ at 28.46 (dip & reversal) indicates bullish directional pressure, which supports a near-term upside bias relative to short-term moving averages.
DI- at 22.28 (peak & reversal) indicates declining downside pressure, a second bullish directional sign that reinforces the DI+ signal.
MACD at 0.10 with a dip & reversal and a reading above the signal line signals bullish momentum; continued MACD strength would favor further short-term gains.
MRO at -13.83 (dip & reversal) reads negative, implying price sits below WMDST’s target and carries potential for mean-reversion gains toward valuation levels.
RSI 50.55 (dip & reversal) sits near neutral with a modest upward bias, supporting momentum continuation if volume confirms the move.
Price trades at $17.13 above the 20-day ($16.18) and 50-day ($15.99) averages but slightly below the 200-day average ($17.19), which positions the stock in a short-term uptrend inside a longer-term neutral band.
Price exceeds the 2x Bollinger upper band (~$16.96), indicating recent upside has stretched volatility bands; traders should watch for consolidation or follow-through on volume.
Ichimoku readings place price between Senkou A $16.74 and Senkou B $17.25, consistent with a market that sits near the cloud and requires confirmation before declaring trend strength.
Volume at 6,777,051 sits above the 10-day average of 4,232,126 and the 200-day average of 4,921,005, lending conviction to the recent move if elevated volume continues.
Fundamental Analysis
Total revenue reached $22,188,765,000 with YoY revenue growth +11.45% and QoQ revenue contraction -67.05%, reflecting a strong annual top-line advance but meaningful sequential volatility; sequential declines require monitoring for cyclic recovery or seasonality effects.
EBIT $2,313,817,000 yields an EBIT margin of 10.43%, above the industry peer mean of 9.04% and above the industry peer median of 4.69%, signaling relative operating efficiency versus the peer set. EBIT margin QoQ rose roughly +247.14%, while EBIT margin YoY fell about -20.71%.
Net income totaled $87,854,000 and EPS came in at $0.46 versus an estimate of $0.74, producing an EPS miss of -$0.28 and an EPS surprise of -37.84%.
P/B at 0.88x sits well below the industry peer mean of 3.46x and the industry peer median of 3.28x, indicating a materially lower price-to-book valuation relative to peers. Free cash flow $1,304,031,000 yields ~2.24%, above the industry peer mean free cash flow yield of ~1.68%.
Return on equity ~0.13% and return on assets ~0.07% remain minimal; operating margin 2.06% shows compression versus historical peer medians. Earnings growth displays a negative headline figure (-58.93%) but quarter-over-quarter and year-over-year growth rates reported positive short-term spikes; mixed growth metrics point to recovery intermittence rather than steady expansion.
Balance sheet strength shows $47,353,143,000 in cash and short-term investments against total debt $18,775,969,000 and a current ratio ~1.61 and quick ratio ~1.54, supporting liquidity and buyback capacity noted in recent filings.
Valuation context: WMDST values the stock as under-valued. Market multiples show a trailing P/E ~37.58x and forward P/E ~68.58x with an enterprise multiple ~12.85x; lower P/B and positive free cash flow yield support the WMDST under-valued assessment despite elevated forward multiples tied to lower forward EPS.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-03-16 |
| NEXT REPORT DATE: | 2026-06-15 |
| CASH FLOW | Begin Period Cash Flow | $ 16.0 B |
| Operating Cash Flow | $ 1.9 B | |
| Capital Expenditures | — | |
| Change In Working Capital | $ 1.8 B | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -22.68 M | |
| End Period Cash Flow | $ 15.9 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 22.2 B | |
| Forward Revenue | $ 53.3 B | |
| COSTS | ||
| Cost Of Revenue | $ 17.4 B | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | $ 715.2 M | |
| Total Operating Expenses | $ 21.7 B | |
| PROFITABILITY | ||
| Gross Profit | $ 4.8 B | |
| EBITDA | $ 2.3 B | |
| EBIT | $ 2.3 B | |
| Operating Income | $ 457.4 M | |
| Interest Income | $ 165.4 M | |
| Interest Expense | — | |
| Net Interest Income | $ 138.4 M | |
| Income Before Tax | $ 279.1 M | |
| Tax Provision | $ 196.8 M | |
| Tax Rate | 25.0 % | |
| Net Income | $ 87.9 M | |
| Net Income From Continuing Operations | $ 87.9 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.74 | |
| EPS Actual | $ 0.46 | |
| EPS Difference | $ -0.28 | |
| EPS Surprise | -37.838 % | |
| Forward EPS | $ 0.25 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 116.7 B | |
| Intangible Assets | $ 5.8 B | |
| Net Tangible Assets | $ 60.7 B | |
| Total Current Assets | $ 68.1 B | |
| Cash and Short-Term Investments | $ 47.4 B | |
| Cash | $ 7.8 B | |
| Net Receivables | $ 3.9 B | |
| Inventory | $ 2.9 B | |
| Long-Term Investments | $ 148.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 6.1 B | |
| Short-Term Debt | $ 705.7 M | |
| Total Current Liabilities | $ 42.4 B | |
| Net Debt | — | |
| Total Debt | $ 18.8 B | |
| Total Liabilities | $ 50.1 B | |
| EQUITY | ||
| Total Equity | $ 66.4 B | |
| Retained Earnings | $ 1.1 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 19.70 | |
| Shares Outstanding | 3.373 B | |
| Revenue Per-Share | $ 6.58 | |
| VALUATION | Market Capitalization | $ 58.3 B |
| Enterprise Value | $ 29.7 B | |
| Enterprise Multiple | 12.854 | |
| Enterprise Multiple QoQ | -75.474 % | |
| Enterprise Multiple YoY | 21.255 % | |
| Enterprise Multiple IPRWA | high: 206.439 median: 139.477 mean: 114.951 BEKE: 12.854 low: -76.71 |
|
| EV/R | 1.34 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.756 | |
| Asset To Liability | 2.327 | |
| Debt To Capital | 0.22 | |
| Debt To Assets | 0.161 | |
| Debt To Assets QoQ | -9.002 % | |
| Debt To Assets YoY | -5.419 % | |
| Debt To Assets IPRWA | high: 1.375 median: 0.311 mean: 0.262 BEKE: 0.161 low: 0.0 |
|
| Debt To Equity | 0.283 | |
| Debt To Equity QoQ | -9.129 % | |
| Debt To Equity YoY | -11.032 % | |
| Debt To Equity IPRWA | high: 6.047 mean: 0.858 median: 0.747 BEKE: 0.283 low: -2.288 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.878 | |
| Price To Book QoQ | -7.221 % | |
| Price To Book YoY | -14.826 % | |
| Price To Book IPRWA | high: 9.731 mean: 3.461 median: 3.284 BEKE: 0.878 low: -1.833 |
|
| Price To Earnings (P/E) | 37.585 | |
| Price To Earnings QoQ | 131.319 % | |
| Price To Earnings YoY | 106.404 % | |
| Price To Earnings IPRWA | high: 346.806 mean: 88.208 median: 59.876 BEKE: 37.585 low: -287.178 |
|
| PE/G Ratio | -0.638 | |
| Price To Sales (P/S) | 2.628 | |
| Price To Sales QoQ | -5.6 % | |
| Price To Sales YoY | 11.299 % | |
| Price To Sales IPRWA | high: 34.149 mean: 11.805 median: 4.795 BEKE: 2.628 low: 0.022 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 68.578 | |
| Forward PE/G | -1.164 | |
| Forward P/S | 1.094 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -62.49 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.188 | |
| Asset Turnover Ratio QoQ | -0.88 % | |
| Asset Turnover Ratio YoY | -22.675 % | |
| Asset Turnover Ratio IPRWA | high: 0.603 mean: 0.21 BEKE: 0.188 median: 0.118 low: 0.004 |
|
| Receivables Turnover | 5.752 | |
| Receivables Turnover Ratio QoQ | -2.323 % | |
| Receivables Turnover Ratio YoY | -20.76 % | |
| Receivables Turnover Ratio IPRWA | high: 21.769 BEKE: 5.752 mean: 3.405 median: 2.918 low: 0.522 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 15.863 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 174.938 mean: 19.189 median: 11.204 BEKE: 0 low: -85.948 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.863 | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 66.9 B | |
| Net Invested Capital | $ 67.6 B | |
| Invested Capital | $ 67.6 B | |
| Net Tangible Assets | $ 60.7 B | |
| Net Working Capital | $ 25.7 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.117 | |
| Current Ratio | 1.606 | |
| Current Ratio QoQ | 0.04 % | |
| Current Ratio YoY | 10.602 % | |
| Current Ratio IPRWA | high: 9.494 mean: 2.032 BEKE: 1.606 median: 1.426 low: 0.378 |
|
| Quick Ratio | 1.539 | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | 6.691 % | |
| Quick Ratio IPRWA | high: 7.63 mean: 2.049 median: 2.015 BEKE: 1.539 low: 0.41 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.115 | |
| Cost Of Debt | 0.098 % | |
| Interest Coverage Ratio | 82.187 | |
| Interest Coverage Ratio QoQ | 234.129 % | |
| Interest Coverage Ratio YoY | -43.478 % | |
| Interest Coverage Ratio IPRWA | BEKE: 82.187 high: 24.6 median: 3.406 mean: 3.154 low: -21.053 |
|
| Operating Cash Flow Ratio | 0.001 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 30.238 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.203 % | |
| Revenue Growth | -3.747 % | |
| Revenue Growth QoQ | -67.054 % | |
| Revenue Growth YoY | 11.452 % | |
| Revenue Growth IPRWA | high: 79.718 % median: 7.953 % mean: 7.888 % BEKE: -3.747 % low: -59.284 % |
|
| Earnings Growth | -58.929 % | |
| Earnings Growth QoQ | 112.418 % | |
| Earnings Growth YoY | 119.909 % | |
| Earnings Growth IPRWA | high: 185.366 % median: 34.783 % mean: 22.574 % BEKE: -58.929 % low: -163.636 % |
|
| MARGINS | ||
| Gross Margin | 21.436 % | |
| Gross Margin QoQ | 0.131 % | |
| Gross Margin YoY | -6.95 % | |
| Gross Margin IPRWA | high: 100.0 % mean: 42.817 % median: 35.24 % BEKE: 21.436 % low: -31.263 % |
|
| EBIT Margin | 10.428 % | |
| EBIT Margin QoQ | 247.137 % | |
| EBIT Margin YoY | -20.712 % | |
| EBIT Margin IPRWA | high: 67.324 % BEKE: 10.428 % mean: 9.04 % median: 4.69 % low: -17.436 % |
|
| Return On Sales (ROS) | 2.061 % | |
| Return On Sales QoQ | -31.391 % | |
| Return On Sales YoY | -84.329 % | |
| Return On Sales IPRWA | high: 50.395 % mean: 6.117 % median: 4.19 % BEKE: 2.061 % low: -51.742 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.3 B | |
| Free Cash Flow Yield | 2.236 % | |
| Free Cash Flow Yield QoQ | 68.627 % | |
| Free Cash Flow Yield YoY | -59.95 % | |
| Free Cash Flow Yield IPRWA | high: 21.034 % BEKE: 2.236 % mean: 1.684 % median: 1.153 % low: -14.056 % |
|
| Free Cash Growth | 53.212 % | |
| Free Cash Growth QoQ | -63.928 % | |
| Free Cash Growth YoY | -93.464 % | |
| Free Cash Growth IPRWA | high: 330.07 % BEKE: 53.212 % median: -42.663 % mean: -70.624 % low: -505.085 % |
|
| Free Cash To Net Income | 14.843 | |
| Cash Flow Margin | 0.114 % | |
| Cash Flow To Earnings | 0.288 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.074 % | |
| Return On Assets QoQ | -88.006 % | |
| Return On Assets YoY | -83.371 % | |
| Return On Assets IPRWA | high: 3.446 % mean: 0.704 % median: 0.571 % BEKE: 0.074 % low: -8.325 % |
|
| Return On Capital Employed (ROCE) | 3.116 % | |
| Return On Equity (ROE) | 0.001 | |
| Return On Equity QoQ | -88.043 % | |
| Return On Equity YoY | -83.479 % | |
| Return On Equity IPRWA | high: 0.193 median: 0.028 mean: 0.022 BEKE: 0.001 low: -0.179 |
|
| DuPont ROE | 0.131 % | |
| Return On Invested Capital (ROIC) | 2.568 % | |
| Return On Invested Capital QoQ | 239.234 % | |
| Return On Invested Capital YoY | -40.098 % | |
| Return On Invested Capital IPRWA | high: 8.75 % BEKE: 2.568 % mean: 1.459 % median: 1.056 % low: -11.344 % |
|