Recent News
March 4, 2026 — Controlling shareholders executed a sale of a 45.9% stake to Nofar; the transaction closed in early March and triggered governance changes. March 11, 2026 — A Schedule 13D filing reported the new block-holder position and immediate board adjustments. March 30, 2026 — The company announced a planned sale of its indirect holdings in Dorad Energy Ltd., citing an underlying Dorad valuation of NIS 4.4 billion; the notice addressed structuring and separation processes.
Technical Analysis
Directional indicators present divergent signals: ADX at 25.13 signals a measurable trend strength, while DI+ (18.61, decreasing) signals bearish directional pressure and DI– (35.12, peak-and-reversal) signals a recent retreat in selling pressure that supports a short-term stabilization scenario. Together the readings imply a trend with established strength but conflicting directional forces; that mix raises the probability of range-bound action with downside bias relative to WMDST’s valuation.
MACD stands negative at -0.49 with the MACD line decreasing and sitting below the signal line (-0.31); that configuration communicates bearish momentum and reinforces near-term downside pressure on price relative to valuation.
The Momentum/Regression Oscillator registers 12.96 and shows a peak-and-reversal. Because the MRO sits positive, price currently sits above the model target and the indicator implies a higher likelihood of mean reversion downward toward the valuation anchor in the coming weeks.
RSI at 45.39 and trending down signals diminishing upside momentum without oversold conditions; RSI dynamics reinforce the MACD signal and align with a near-term bias toward lower or sideways prices rather than a breakout higher.
Price vs moving averages and bands: the close of $23.00 sits below the 50-day average ($24.82) and near the 1× lower Bollinger band ($22.92), while the 200-day average rests at $22.57. The short-term EMAs (12-day $23.72 decreasing; 26-day $24.27) indicate recent downside pressure. Convergence of price near the lower band plus the EMA/MA configuration favors consolidation with downside risk relative to the current WMDST valuation level.
Volume lacked conviction today (volume 871 vs 10-day average 26,357 and 50-day average 8,497), reducing the chance of an immediate, sustained directional move; low participation increases sensitivity to headline flow tied to the recent governance and asset-sale developments.
Fundamental Analysis
Profitability shows mixed operational performance versus bottom-line losses. Total revenue equals $1,026,000 with year-over-year revenue change of -10.21% and quarter-over-quarter change of -8.13%. Operating income registers $4,409,000, producing an operating margin of 4.30% and a QoQ operating-margin expansion of 58.45%, while EBIT prints negative at -$9,768,000 and EBIT margin equals -9.52%, which sits below the industry peer mean of 4.32% and below the industry peer median of 8.77%.
Cash flow metrics highlight negative free cash flow of -$45,041,000 and a free-cash-flow yield of -12.93%, weaker than the industry peer mean free-cash-flow yield of approximately -3.62%. Operating cash flow shows an outflow of -$6,095,000 and the company reports a cash conversion ratio of 4.63%, limiting internal liquidity generation relative to capital needs.
Balance-sheet and leverage picture: total assets $843,515,000 against total debt $637,258,000 produce debt-to-assets of 75.55%, materially above the industry peer mean of 44.37% and above the peer median. Debt-to-equity runs at 453.28%, underscoring heavy leverage and a capital structure tilted toward creditors; net debt equals $513,309,000. Cash and short-term investments of $87,614,000 provide a liquidity buffer but do not offset total leverage at current scale.
Valuation multiples and operating efficiency: price-to-book sits at 2.48x while price-to-sales reads 339.56x, reflecting very low trailing revenue relative to equity value. Asset turnover stands at 0.128% and trails the industry peer mean asset turnover of 3.264%, indicating low revenue generation per asset dollar. Enterprise value measures place EV around $898.0M with an enterprise multiple deeply negative on reported earnings metrics, consistent with elevated capital intensity and current negative operating returns.
Capital allocation and investment: capital expenditures total -$38,946,000 producing a capex-to-depreciation ratio of -10.73 and capex-to-revenue of -37.96%, reflecting heavy ongoing project spending relative to near-term revenue. The company reports a strong pipeline of development projects and an advancing pumped-storage asset timed to reach operation during 2026; those investments explain negative free cash flow but also extend funding needs into the near term.
WMDST valuation summary: WMDST values the stock as over-valued. High leverage, negative free cash flow, low asset turnover and an EBIT margin below the industry peer mean support a valuation premium that does not align with current operating returns; upcoming portfolio transactions and the modest cash cushion will dictate whether the gap narrows.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-03-30 |
| NEXT REPORT DATE: | 2026-06-29 |
| CASH FLOW | Begin Period Cash Flow | $ 49.3 M |
| Operating Cash Flow | $ -6.09 M | |
| Capital Expenditures | $ -38.95 M | |
| Change In Working Capital | $ -4.54 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 38.3 M | |
| End Period Cash Flow | $ 87.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.0 M | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | $ 8.7 M | |
| Depreciation | $ 3.6 M | |
| Depreciation and Amortization | $ 3.6 M | |
| Research and Development | $ -732.00 K | |
| Total Operating Expenses | $ -3.38 M | |
| PROFITABILITY | ||
| Gross Profit | $ -7.65 M | |
| EBITDA | $ -6.14 M | |
| EBIT | $ -9.77 M | |
| Operating Income | $ 4.4 M | |
| Interest Income | $ -7.28 M | |
| Interest Expense | $ 5.8 M | |
| Net Interest Income | $ -7.57 M | |
| Income Before Tax | $ -15.61 M | |
| Tax Provision | $ -738.00 K | |
| Tax Rate | 4.727 % | |
| Net Income | $ -12.57 M | |
| Net Income From Continuing Operations | $ -14.87 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | — | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 843.5 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 140.6 M | |
| Total Current Assets | $ 114.2 M | |
| Cash and Short-Term Investments | $ 87.6 M | |
| Cash | $ 87.6 M | |
| Net Receivables | $ 958.0 K | |
| Inventory | $ 583.0 K | |
| Long-Term Investments | $ 16.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 6.7 M | |
| Short-Term Debt | $ 60.7 M | |
| Total Current Liabilities | $ 92.0 M | |
| Net Debt | $ 513.3 M | |
| Total Debt | $ 637.3 M | |
| Total Liabilities | $ 678.4 M | |
| EQUITY | ||
| Total Equity | $ 140.6 M | |
| Retained Earnings | $ -13.69 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 10.20 | |
| Shares Outstanding | 13.781 M | |
| Revenue Per-Share | $ 0.07 | |
| VALUATION | Market Capitalization | $ 348.4 M |
| Enterprise Value | $ 898.0 M | |
| Enterprise Multiple | -146.331 | |
| Enterprise Multiple QoQ | -432.005 % | |
| Enterprise Multiple YoY | 37.42 % | |
| Enterprise Multiple IPRWA | high: 360.067 median: 189.173 mean: 183.764 low: -12.079 ELLO: -146.331 |
|
| EV/R | 875.278 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 6.0 | |
| Asset To Liability | 1.243 | |
| Debt To Capital | 0.819 | |
| Debt To Assets | 0.755 | |
| Debt To Assets QoQ | 4.904 % | |
| Debt To Assets YoY | -1.805 % | |
| Debt To Assets IPRWA | high: 0.774 ELLO: 0.755 median: 0.457 mean: 0.444 low: 0.331 |
|
| Debt To Equity | 4.533 | |
| Debt To Equity QoQ | 18.706 % | |
| Debt To Equity YoY | 3.191 % | |
| Debt To Equity IPRWA | ELLO: 4.533 high: 3.034 median: 1.123 mean: -9.851 low: -38.335 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.478 | |
| Price To Book QoQ | 24.959 % | |
| Price To Book YoY | 45.449 % | |
| Price To Book IPRWA | high: 3.876 median: 2.794 ELLO: 2.478 mean: -2.914 low: -17.333 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | 339.562 | |
| Price To Sales QoQ | 1421.723 % | |
| Price To Sales YoY | 1358.023 % | |
| Price To Sales IPRWA | ELLO: 339.562 high: 30.038 median: 25.753 mean: 19.906 low: 1.458 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | — | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.882 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.001 | |
| Asset Turnover Ratio QoQ | -92.515 % | |
| Asset Turnover Ratio YoY | -90.288 % | |
| Asset Turnover Ratio IPRWA | high: 0.045 mean: 0.033 median: 0.027 low: 0.02 ELLO: 0.001 |
|
| Receivables Turnover | 0.32 | |
| Receivables Turnover Ratio QoQ | -91.48 % | |
| Receivables Turnover Ratio YoY | -65.416 % | |
| Receivables Turnover Ratio IPRWA | high: 2.397 mean: 1.936 median: 1.787 low: 1.727 ELLO: 0.32 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 285.445 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 74.12 mean: 15.6 ELLO: 0 median: -23.927 low: -24.64 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.046 | |
| CapEx To Revenue | -37.959 | |
| CapEx To Depreciation | -10.726 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 680.8 M | |
| Net Invested Capital | $ 741.5 M | |
| Invested Capital | $ 741.5 M | |
| Net Tangible Assets | $ 140.6 M | |
| Net Working Capital | $ 22.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.952 | |
| Current Ratio | 1.241 | |
| Current Ratio QoQ | 5.024 % | |
| Current Ratio YoY | 71.156 % | |
| Current Ratio IPRWA | high: 4.937 ELLO: 1.241 mean: 1.183 median: 0.673 low: 0.255 |
|
| Quick Ratio | 1.235 | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | 72.781 % | |
| Quick Ratio IPRWA | high: 1.58 ELLO: 1.235 mean: 1.094 median: 1.02 low: 0.253 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -103.839 | |
| Cost Of Debt | 0.464 % | |
| Interest Coverage Ratio | -1.671 | |
| Interest Coverage Ratio QoQ | -141.533 % | |
| Interest Coverage Ratio YoY | -37.005 % | |
| Interest Coverage Ratio IPRWA | high: 1.749 median: -0.55 ELLO: -1.671 mean: -3.652 low: -25.093 |
|
| Operating Cash Flow Ratio | -0.106 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 89.716 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 11.07 % | |
| Revenue Growth | -91.94 % | |
| Revenue Growth QoQ | -813.488 % | |
| Revenue Growth YoY | -1020.505 % | |
| Revenue Growth IPRWA | high: 57.254 % mean: 16.9 % median: 10.535 % low: -13.989 % ELLO: -91.94 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | -746.004 % | |
| Gross Margin QoQ | -3056.345 % | |
| Gross Margin YoY | 39142.714 % | |
| Gross Margin IPRWA | high: 82.308 % median: 56.93 % mean: 48.545 % low: 9.146 % ELLO: -746.004 % |
|
| EBIT Margin | -952.047 % | |
| EBIT Margin QoQ | -1006.202 % | |
| EBIT Margin YoY | 730.336 % | |
| EBIT Margin IPRWA | high: 22.182 % median: 8.77 % mean: 4.32 % low: -25.586 % ELLO: -952.047 % |
|
| Return On Sales (ROS) | 429.727 % | |
| Return On Sales QoQ | 5845.31 % | |
| Return On Sales YoY | -474.79 % | |
| Return On Sales IPRWA | ELLO: 429.727 % high: 23.525 % median: 21.109 % mean: 19.484 % low: -19.477 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -45.04 M | |
| Free Cash Flow Yield | -12.928 % | |
| Free Cash Flow Yield QoQ | 77.412 % | |
| Free Cash Flow Yield YoY | 22.436 % | |
| Free Cash Flow Yield IPRWA | high: 1.589 % mean: -3.623 % median: -5.031 % low: -8.08 % ELLO: -12.928 % |
|
| Free Cash Growth | 117.6 % | |
| Free Cash Growth QoQ | 177.627 % | |
| Free Cash Growth YoY | -770.009 % | |
| Free Cash Growth IPRWA | high: 545.938 % ELLO: 117.6 % median: -60.786 % mean: -581.737 % low: -1963.158 % |
|
| Free Cash To Net Income | 3.583 | |
| Cash Flow Margin | -946.686 % | |
| Cash Flow To Earnings | 0.773 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -1.568 % | |
| Return On Assets QoQ | -215.209 % | |
| Return On Assets YoY | -7.765 % | |
| Return On Assets IPRWA | high: 0.508 % median: 0.174 % mean: -0.348 % ELLO: -1.568 % low: -24.295 % |
|
| Return On Capital Employed (ROCE) | -1.3 % | |
| Return On Equity (ROE) | -0.089 | |
| Return On Equity QoQ | -226.46 % | |
| Return On Equity YoY | -5.245 % | |
| Return On Equity IPRWA | high: 1.739 mean: 0.519 median: 0.012 low: 0.008 ELLO: -0.089 |
|
| DuPont ROE | -8.858 % | |
| Return On Invested Capital (ROIC) | -1.255 % | |
| Return On Invested Capital QoQ | -179.936 % | |
| Return On Invested Capital YoY | -14.1 % | |
| Return On Invested Capital IPRWA | high: 1.382 % median: 0.205 % mean: -0.204 % ELLO: -1.255 % low: -35.133 % |
|