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On March 25, 2026 the Board declared a quarterly dividend of $0.33 per share. The company scheduled its 2026 annual meeting for April 29, 2026 at 9:00 a.m. and filed its Form 10‑Q for the quarter ended March 31, 2026 in late April.
Technical Analysis
ADX sits at 18.03, indicating no strong trend; the lack of trend strength supports a near-term consolidation bias rather than a directional breakout, consistent with the stock’s WMDST valuation of over‑valued.
Directional indicators show DI+ at 25.66 and DI+ trending increasing, which reads as a bullish signal. DI‑ sits at 19.39 and shows a dip-and-reversal; that pattern corresponds to increasing DI‑ and therefore a bearish impulse. The simultaneous DI+ strength and DI‑ reversal produce offsetting forces that favor sideways price action.
MACD stands at 0.32 with a signal line at 0.14; the MACD currently sits above its signal line (a bullish cross), but the MACD trend registers a peak-and-reversal, indicating waning momentum. That combination suggests recent bullish momentum faces the risk of rolling over.
MRO registers 8.36 and shows a dip-and-reversal; the positive MRO implies price sits above target and faces modest downward pressure, signaling limited upside before mean reversion.
RSI at 51.29 with a peak-and-reversal indicates momentum has peaked and supports a cautious short-term view rather than an immediate directional push.
Price sits at $48.15, above the 200‑day average of $46.14 and near short-term averages (20‑day $47.81, 50‑day $48.03). The 12‑day EMA shows a peak-and-reversal while Ichimoku Tenkan/Kijun (Tenkan $48.34, Kijun $48.22) cluster near the current price, placing the market at a technical inflection with Bollinger 1σ band range $46.47–$49.15. Volume has ticked above recent averages (10‑day avg 1,063,499 vs current 1,443,979), but ADX suggests that higher volume has not yet produced a sustained trend.
Fundamental Analysis
Operating results show diluted operating EPS of $0.70 versus an estimate of $0.67, an EPS beat of $0.03 or about 4.48% (EPS actual $0.70; EPS estimate $0.67; EPS surprise 4.478%). Net income for the period totaled $82,144,000. WMDST treats earnings performance and liquidity as drivers of the current premium valuation.
Revenue metrics: total revenue $299,591,000. Reported revenue growth QoQ equals 122.57% and revenue growth YoY equals 159.75%; sequential revenue expansion appears substantial on the reported basis. Operating cash flow ended at $1,385,237,000 and free cash flow totaled $74,350,000, yielding a free cash flow yield of 1.224%.
Profitability and returns: return on assets equals 0.258% and return on equity equals 1.933%; both show QoQ improvement (ROA QoQ +23.445 percentage points; ROE QoQ +27.675 percentage points) and YoY gains. Earnings growth reads 27.27% on the provided measure, though short‑term QoQ and YoY growth rates show volatility.
Capital structure and liquidity remain conservative: total assets $31,734,082,000, total equity $4,248,499,000, total debt $322,262,000; debt‑to‑equity equals 0.07585 and debt‑to‑assets equals 0.01016, both down meaningfully QoQ and YoY, indicating lower leverage versus recent periods. Cash balance $1,385,237,000 supports strong short‑term liquidity.
Valuation metrics versus industry peer measures: price‑to‑book at 1.43x compares above the industry peer mean of 1.24822 and above the industry peer median of 1.21571. Price‑to‑earnings at 66.68x sits above the industry peer mean of 47.1592 and above the industry peer median of 44.92866. Forward PE 50.49x also exceeds the industry peer mean of 38.43895. WMDST values the stock as over‑valued, reflecting these premium multiples alongside modest profitability and low payout.
Dividends and shareholder return: the Board declared a quarterly dividend of $0.33 per share (announced March 25, 2026). Dividend payout ratio on the provided trailing basis stands at 0.41% and dividend coverage remains robust at 243.75, indicating capacity to sustain distributions without pressuring capital.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-23 |
| NEXT REPORT DATE: | 2026-07-23 |
| CASH FLOW | Begin Period Cash Flow | $ 1.2 B |
| Operating Cash Flow | $ 87.9 M | |
| Capital Expenditures | $ -13.53 M | |
| Change In Working Capital | $ -20.40 M | |
| Dividends Paid | $ -337.00 K | |
| Cash Flow Delta | $ 150.0 M | |
| End Period Cash Flow | $ 1.4 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 299.6 M | |
| Forward Revenue | $ 108.2 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 9.1 M | |
| Depreciation and Amortization | $ 13.9 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 362.3 M | |
| Interest Expense | $ 93.7 M | |
| Net Interest Income | $ 268.7 M | |
| Income Before Tax | $ 100.2 M | |
| Tax Provision | $ 18.0 M | |
| Tax Rate | 17.992 % | |
| Net Income | $ 82.1 M | |
| Net Income From Continuing Operations | $ 82.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.67 | |
| EPS Actual | $ 0.70 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 4.478 % | |
| Forward EPS | $ 0.91 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 31.7 B | |
| Intangible Assets | $ 1.5 B | |
| Net Tangible Assets | $ 2.8 B | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 1.4 B | |
| Net Receivables | $ 122.8 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 30.5 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 322.3 M | |
| Total Liabilities | $ 27.5 B | |
| EQUITY | ||
| Total Equity | $ 4.2 B | |
| Retained Earnings | $ 1.2 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 32.65 | |
| Shares Outstanding | 130.124 M | |
| Revenue Per-Share | $ 2.30 | |
| VALUATION | Market Capitalization | $ 6.1 B |
| Enterprise Value | $ 6.4 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 21.349 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 7.469 | |
| Asset To Liability | 1.155 | |
| Debt To Capital | 0.071 | |
| Debt To Assets | 0.01 | |
| Debt To Assets QoQ | -57.293 % | |
| Debt To Assets YoY | -84.053 % | |
| Debt To Assets IPRWA | high: 0.145 median: 0.065 mean: 0.058 GBCI: 0.01 low: -0.0 |
|
| Debt To Equity | 0.076 | |
| Debt To Equity QoQ | -57.98 % | |
| Debt To Equity YoY | -85.95 % | |
| Debt To Equity IPRWA | high: 1.682 median: 0.612 mean: 0.549 GBCI: 0.076 low: -0.315 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.43 | |
| Price To Book QoQ | 2.654 % | |
| Price To Book YoY | -6.654 % | |
| Price To Book IPRWA | high: 1.989 GBCI: 1.43 mean: 1.248 median: 1.216 low: 0.287 |
|
| Price To Earnings (P/E) | 66.681 | |
| Price To Earnings QoQ | -18.775 % | |
| Price To Earnings YoY | -27.839 % | |
| Price To Earnings IPRWA | high: 76.809 GBCI: 66.681 mean: 47.159 median: 44.929 low: 28.296 |
|
| PE/G Ratio | 2.445 | |
| Price To Sales (P/S) | 20.274 | |
| Price To Sales QoQ | 3.398 % | |
| Price To Sales YoY | -12.674 % | |
| Price To Sales IPRWA | high: 26.503 GBCI: 20.274 mean: 14.192 median: 13.162 low: 0.11 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 50.492 | |
| Forward PE/G | 1.851 | |
| Forward P/S | 56.153 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.009 | |
| Asset Turnover Ratio QoQ | -4.179 % | |
| Asset Turnover Ratio YoY | 20.823 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 mean: 0.01 median: 0.01 GBCI: 0.009 low: 0.005 |
|
| Receivables Turnover | 2.467 | |
| Receivables Turnover Ratio QoQ | -0.949 % | |
| Receivables Turnover Ratio YoY | 15.596 % | |
| Receivables Turnover Ratio IPRWA | high: 4.518 mean: 2.613 median: 2.475 GBCI: 2.467 low: 0.805 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 36.989 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.045 | |
| CapEx To Depreciation | -1.49 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 4.5 B | |
| Net Invested Capital | $ 4.5 B | |
| Invested Capital | $ 4.5 B | |
| Net Tangible Assets | $ 2.8 B | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 9.23 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 243.751 | |
| Dividend Payout Ratio | 0.004 | |
| Dividend Rate | $ 0.00 | |
| Dividend Yield | 0.0 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.763 % | |
| Revenue Growth | 18.004 % | |
| Revenue Growth QoQ | 122.574 % | |
| Revenue Growth YoY | 15975.0 % | |
| Revenue Growth IPRWA | high: 29.228 % GBCI: 18.004 % mean: 5.07 % median: 1.084 % low: -23.976 % |
|
| Earnings Growth | 27.273 % | |
| Earnings Growth QoQ | -341.568 % | |
| Earnings Growth YoY | -345.459 % | |
| Earnings Growth IPRWA | high: 41.86 % GBCI: 27.273 % mean: -2.734 % median: -3.008 % low: -43.519 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 74.3 M | |
| Free Cash Flow Yield | 1.224 % | |
| Free Cash Flow Yield QoQ | -38.338 % | |
| Free Cash Flow Yield YoY | 31.755 % | |
| Free Cash Flow Yield IPRWA | high: 9.54 % mean: 1.782 % median: 1.744 % GBCI: 1.224 % low: -3.189 % |
|
| Free Cash Growth | -36.167 % | |
| Free Cash Growth QoQ | -423.874 % | |
| Free Cash Growth YoY | -14.471 % | |
| Free Cash Growth IPRWA | high: 299.762 % GBCI: -36.167 % median: -50.617 % mean: -59.432 % low: -368.012 % |
|
| Free Cash To Net Income | 0.905 | |
| Cash Flow Margin | 30.391 % | |
| Cash Flow To Earnings | 1.108 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.258 % | |
| Return On Assets QoQ | 23.445 % | |
| Return On Assets YoY | 31.633 % | |
| Return On Assets IPRWA | high: 0.612 % GBCI: 0.258 % median: 0.255 % mean: 0.253 % low: 0.065 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.019 | |
| Return On Equity QoQ | 27.675 % | |
| Return On Equity YoY | 16.446 % | |
| Return On Equity IPRWA | high: 0.043 median: 0.023 mean: 0.022 GBCI: 0.019 low: 0.001 |
|
| DuPont ROE | 1.94 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |