Recent News
April 30, 2026: the company filed an 8‑K and related materials noting multiple licensing developments in Q1, including a renewal with Xiaomi and a new license with LG Electronics. February–April 2026: the company announced additional licensing activity and routine investor filings, including a notice for the 2026 annual meeting and ongoing press releases about license agreements with consumer electronics partners.
Technical Analysis
ADX at 26.87 indicates a strong directional trend in place; directional indicators show bearish dominance as DI+ declines and DI‑ rises, signaling sellers control momentum relative to buyers.
MACD sits negative at -2.30 and shows a peak‑and‑reversal pattern, indicating bearish momentum; MACD remains below its signal line (signal 3.37), so momentum favors further downside rather than a bullish crossover.
MRO reads 7.87 (positive), which implies price sits above the model target and therefore faces a propensity to decrease; the magnitude suggests only modest compression potential in the near term.
RSI at 47.32 with a peak‑and‑reversal pattern shows momentum shifting down from prior strength, consistent with weakening short‑term internals rather than oversold bounce conditions.
Price trades beneath short and intermediate moving averages: the 12‑day EMA at $340.08, 26‑day EMA at $343.78, 20‑day average $354.96 and 50‑day average $346.78 all sit above the close ($290.50), reinforcing downward pressure on price versus trend references.
Ichimoku components (Tenkan/Kijun ~ $333, Senkou cloud midpoints near $340) lie above the close, placing the price below the cloud and implying technical resistance near those levels. The super trend upper value at $333.16 aligns with these resistance bands.
Bollinger bands show the close below the 1x lower band ($324.31) and slightly below the 2x lower band ($293.66), signaling an extreme on a volatility basis; higher-than‑average recent volume (current volume ~665k vs. 10‑day avg ~328k) means that downward moves carry conviction from active participants rather than thin‑market noise.
Fundamental Analysis
Total revenue registers at $205,416,000 with reported revenue growth of 29.82%; reported YoY revenue growth in the provided metrics reads -278.25%, reflecting a dataset divergence between period snapshots. Operating income totaled $82,261,000 and EBIT reached $88,861,000, producing an EBIT margin of 43.26%—well above the industry peer mean (≈3.49%) and median (≈3.74%), indicating a materially higher profitability profile versus peers. EBIT margin improved QoQ by 12.70% but declined YoY by 35.91%.
Net income stands at $75,329,000 and EPS came in at $2.57 versus an estimate of $2.52, a $0.05 beat (≈1.98% surprise). Free cash flow remained minimal at $1,003,000, yielding ~0.01%, materially below the industry peer mean free cash flow yield (~6.63%), which constrains cash return potential despite a large cash and short‑term investment balance ($1,081,859,000).
Leverage metrics show total debt of $401,722,000 with debt/EBITDA ~3.72 and an interest coverage ratio ~9.80, consistent with manageable leverage and adequate coverage. Current ratio at 1.88 and a cash ratio of 1.47 reflect liquidity above the industry peer mean and median current ratios, supporting balance‑sheet flexibility.
Market multiples reflect elevated investor expectations: P/E ≈ 134.9x (above the industry peer mean and median), price/book ≈ 8.07x (above the industry peer mean ~1.81), and price/sales ≈ 43.36x (well above the peer mean). WMDST values the stock as over‑valued, a conclusion that aligns with rich valuation multiples, negligible free cash flow yield, and limited free cash conversion despite strong margins and sizable cash holdings.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-30 |
| NEXT REPORT DATE: | 2026-07-30 |
| CASH FLOW | Begin Period Cash Flow | $ 754.3 M |
| Operating Cash Flow | $ -36.68 M | |
| Capital Expenditures | $ -15.08 M | |
| Change In Working Capital | $ -181.96 M | |
| Dividends Paid | $ -17.98 M | |
| Cash Flow Delta | $ -136.68 M | |
| End Period Cash Flow | $ 617.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 205.4 M | |
| Forward Revenue | $ 49.2 M | |
| COSTS | ||
| Cost Of Revenue | $ 52.1 M | |
| Depreciation | $ 19.2 M | |
| Depreciation and Amortization | $ 19.2 M | |
| Research and Development | $ 55.8 M | |
| Total Operating Expenses | $ 123.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 153.3 M | |
| EBITDA | $ 108.1 M | |
| EBIT | $ 88.9 M | |
| Operating Income | $ 82.3 M | |
| Interest Income | $ 10.5 M | |
| Interest Expense | $ 9.1 M | |
| Net Interest Income | $ 1.5 M | |
| Income Before Tax | $ 79.8 M | |
| Tax Provision | $ 4.5 M | |
| Tax Rate | 5.596 % | |
| Net Income | $ 75.3 M | |
| Net Income From Continuing Operations | $ 75.3 M | |
| EARNINGS | ||
| EPS Estimate | $ 2.52 | |
| EPS Actual | $ 2.57 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 1.984 % | |
| Forward EPS | $ 2.81 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.1 B | |
| Intangible Assets | $ 343.2 M | |
| Net Tangible Assets | $ 760.9 M | |
| Total Current Assets | $ 1.4 B | |
| Cash and Short-Term Investments | $ 1.1 B | |
| Cash | $ 607.6 M | |
| Net Receivables | $ 208.3 M | |
| Inventory | — | |
| Long-Term Investments | $ 31.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 17.3 M | |
| Short-Term Debt | $ 377.8 M | |
| Total Current Liabilities | $ 738.3 M | |
| Net Debt | — | |
| Total Debt | $ 401.7 M | |
| Total Liabilities | $ 967.1 M | |
| EQUITY | ||
| Total Equity | $ 1.1 B | |
| Retained Earnings | $ 2.2 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 42.98 | |
| Shares Outstanding | 25.687 M | |
| Revenue Per-Share | $ 8.00 | |
| VALUATION | Market Capitalization | $ 8.9 B |
| Enterprise Value | $ 8.2 B | |
| Enterprise Multiple | 76.131 | |
| Enterprise Multiple QoQ | -20.448 % | |
| Enterprise Multiple YoY | 154.972 % | |
| Enterprise Multiple IPRWA | high: 160.781 IDCC: 76.131 mean: 75.731 median: 31.738 low: 0.637 |
|
| EV/R | 40.052 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.876 | |
| Asset To Liability | 2.142 | |
| Debt To Capital | 0.267 | |
| Debt To Assets | 0.194 | |
| Debt To Assets QoQ | -17.987 % | |
| Debt To Assets YoY | -25.743 % | |
| Debt To Assets IPRWA | high: 0.285 IDCC: 0.194 mean: 0.156 median: 0.135 low: 0.019 |
|
| Debt To Equity | 0.364 | |
| Debt To Equity QoQ | -17.935 % | |
| Debt To Equity YoY | -29.903 % | |
| Debt To Equity IPRWA | high: 2.985 mean: 0.466 median: 0.384 IDCC: 0.364 low: 0.04 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 8.068 | |
| Price To Book QoQ | 4.684 % | |
| Price To Book YoY | 45.823 % | |
| Price To Book IPRWA | high: 27.085 IDCC: 8.068 mean: 1.81 median: 1.192 low: 0.205 |
|
| Price To Earnings (P/E) | 134.932 | |
| Price To Earnings QoQ | -13.419 % | |
| Price To Earnings YoY | 133.288 % | |
| Price To Earnings IPRWA | high: 138.916 IDCC: 134.932 mean: 95.864 median: 92.924 low: -0.385 |
|
| PE/G Ratio | 6.357 | |
| Price To Sales (P/S) | 43.363 | |
| Price To Sales QoQ | -19.146 % | |
| Price To Sales YoY | 76.107 % | |
| Price To Sales IPRWA | IDCC: 43.363 high: 10.347 mean: 5.354 median: 3.175 low: 0.753 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 121.463 | |
| Forward PE/G | 5.722 | |
| Forward P/S | 180.98 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.553 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.099 | |
| Asset Turnover Ratio QoQ | 31.961 % | |
| Asset Turnover Ratio YoY | -12.76 % | |
| Asset Turnover Ratio IPRWA | high: 0.271 mean: 0.141 median: 0.123 IDCC: 0.099 low: 0.043 |
|
| Receivables Turnover | 1.477 | |
| Receivables Turnover Ratio QoQ | 7.564 % | |
| Receivables Turnover Ratio YoY | 72.809 % | |
| Receivables Turnover Ratio IPRWA | high: 10.529 IDCC: 1.477 mean: 1.318 median: 1.238 low: 0.943 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 61.778 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 23.138 | |
| Cash Conversion Cycle Days QoQ | 4.679 % | |
| Cash Conversion Cycle Days YoY | -59.68 % | |
| Cash Conversion Cycle Days IPRWA | high: 75.889 median: 68.857 mean: 60.485 IDCC: 23.138 low: -108.637 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.317 | |
| CapEx To Revenue | -0.073 | |
| CapEx To Depreciation | -0.785 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.1 B | |
| Net Invested Capital | $ 1.5 B | |
| Invested Capital | $ 1.5 B | |
| Net Tangible Assets | $ 760.9 M | |
| Net Working Capital | $ 648.3 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.465 | |
| Current Ratio | 1.878 | |
| Current Ratio QoQ | 1.823 % | |
| Current Ratio YoY | 6.508 % | |
| Current Ratio IPRWA | high: 2.129 IDCC: 1.878 mean: 1.275 median: 1.121 low: 0.913 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 3.717 | |
| Cost Of Debt | 1.924 % | |
| Interest Coverage Ratio | 9.8 | |
| Interest Coverage Ratio QoQ | 69.992 % | |
| Interest Coverage Ratio YoY | -31.916 % | |
| Interest Coverage Ratio IPRWA | high: 48.917 mean: 22.092 median: 21.0 IDCC: 9.8 low: -174.79 |
|
| Operating Cash Flow Ratio | -0.05 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 38.64 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.19 | |
| Dividend Payout Ratio | 0.239 | |
| Dividend Rate | $ 0.70 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.335 % | |
| Revenue Growth | 29.821 % | |
| Revenue Growth QoQ | -861.128 % | |
| Revenue Growth YoY | -278.249 % | |
| Revenue Growth IPRWA | IDCC: 29.821 % high: -0.331 % mean: -21.003 % median: -26.58 % low: -28.798 % |
|
| Earnings Growth | 21.226 % | |
| Earnings Growth QoQ | -225.873 % | |
| Earnings Growth YoY | -235.647 % | |
| Earnings Growth IPRWA | high: 333.333 % IDCC: 21.226 % mean: -39.918 % median: -68.421 % low: -76.923 % |
|
| MARGINS | ||
| Gross Margin | 74.628 % | |
| Gross Margin QoQ | -6.2 % | |
| Gross Margin YoY | -18.531 % | |
| Gross Margin IPRWA | IDCC: 74.628 % high: 65.663 % median: 44.207 % mean: 43.381 % low: 35.91 % |
|
| EBIT Margin | 43.259 % | |
| EBIT Margin QoQ | 12.698 % | |
| EBIT Margin YoY | -35.912 % | |
| EBIT Margin IPRWA | IDCC: 43.259 % high: 6.311 % median: 3.738 % mean: 3.491 % low: 1.401 % |
|
| Return On Sales (ROS) | 40.046 % | |
| Return On Sales QoQ | 32.603 % | |
| Return On Sales YoY | -40.672 % | |
| Return On Sales IPRWA | IDCC: 40.046 % high: 6.311 % median: 3.444 % mean: 3.392 % low: 1.401 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.0 M | |
| Free Cash Flow Yield | 0.011 % | |
| Free Cash Flow Yield QoQ | -98.06 % | |
| Free Cash Flow Yield YoY | -101.222 % | |
| Free Cash Flow Yield IPRWA | high: 17.232 % mean: 6.631 % median: 2.062 % low: 0.362 % IDCC: 0.011 % |
|
| Free Cash Growth | -97.916 % | |
| Free Cash Growth QoQ | 12.082 % | |
| Free Cash Growth YoY | -23.718 % | |
| Free Cash Growth IPRWA | high: 177.093 % mean: 34.114 % median: -58.154 % low: -82.004 % IDCC: -97.916 % |
|
| Free Cash To Net Income | 0.013 | |
| Cash Flow Margin | -17.856 % | |
| Cash Flow To Earnings | -0.487 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.643 % | |
| Return On Assets QoQ | 78.229 % | |
| Return On Assets YoY | -41.74 % | |
| Return On Assets IPRWA | IDCC: 3.643 % high: 0.906 % mean: 0.363 % median: 0.312 % low: 0.23 % |
|
| Return On Capital Employed (ROCE) | 6.667 % | |
| Return On Equity (ROE) | 0.068 | |
| Return On Equity QoQ | 74.859 % | |
| Return On Equity YoY | -44.704 % | |
| Return On Equity IPRWA | high: 0.134 IDCC: 0.068 mean: 0.012 median: 0.009 low: -0.526 |
|
| DuPont ROE | 6.832 % | |
| Return On Invested Capital (ROIC) | 5.621 % | |
| Return On Invested Capital QoQ | 70.385 % | |
| Return On Invested Capital YoY | -36.284 % | |
| Return On Invested Capital IPRWA | IDCC: 5.621 % high: 4.674 % median: 0.759 % mean: 0.661 % low: 0.16 % |
|