Recent News
On May 7, 2026 the company posted fourth-quarter and full fiscal 2026 financial results on its investor site; filings and supplemental materials accompanied that release. In early June the company filed an 8-K announcing changes to its reportable segment structure to better align operations. The company repurchased 1,579,255 shares for $100.0 million during the fourth quarter under its previously announced $500.0 million share-repurchase program. Management presented at a major healthcare conference in early June.
Technical Analysis
ADX at 38.32 indicates a strong underlying trend; directional indicators show bullish dynamics as DI+ has completed a dip-and-reversal while DI- completed a peak-and-reversal, supporting a near-term price bias toward higher levels and reinforcing the constructive tone established by recent corporate actions.
MACD shows a dip-and-reversal, signaling building bullish momentum; however, MACD (3.17) currently sits below its signal line (3.39), so confirmation requires the MACD to cross above the signal line before momentum can be judged fully confirmed for a sustained advance.
MRO reads positive at 35.4, indicating the price trades above the model target and therefore carries a measurable mean-reversion risk; this suggests any continued upside could encounter short-term pullback pressure despite momentum signals.
RSI at 62.9 with a dip-and-reversal indicates renewed buying pressure without reaching overbought extremes, which aligns with a short-term bullish tilt while leaving room before an overbought constraint appears.
Price sits above key averages—200-day at $64.32, 50-day at $64.89 and 20-day at $75.84—with the 12-day EMA at $74.48 and the 26-day EMA at $71.32; that alignment supports a bullish near-term bias and gives technical context to WMDST’s valuation signal. Volume of ~1.6M exceeds the 10-day average (~1.02M), lending credibility to recent moves. The upper 1x Bollinger band at $78.78 and the super-trend upper at $79.86 provide nearby resistance to watch for short-term exhaustion or consolidation.
Fundamental Analysis
Revenue totaled $346,351,000 with revenue growth listed at 2.18%; quarterly and year-over-year rate indicators show recent compression (quarterly revenue growth down ~38.82% QoQ). Gross margin stands at 57.23% while operating margin equals 15.11%, reflecting solid operating profitability. Reported EBIT sits negative at -$23,025,000 (EBIT margin -6.65%), below the industry peer mean EBIT margin of 20.44% and below the industry peer median of 21.81%, indicating non-operating items or adjustments weigh on reported operating profit versus operating income metrics.
Net income recorded a loss of -$20,147,000, while operating cash flow equaled $70,941,000 and free cash flow reached $53,280,000 (free-cash-flow yield ~1.88%). Cash and short-term investments total $245,440,000 and the current ratio sits at 2.95 with a quick ratio of 1.87, supporting near-term liquidity. Debt measures show total debt of $1,224,580,000 and net debt of $979,140,000; debt-to-equity stands at 153.78% and debt-to-EBITDA appears elevated at ~285x, reflecting leverage relative to reported EBITDA levels and indicating capital structure will remain a monitorable risk amid non-operating items.
Earnings per share came in at $1.29 versus an estimate of $1.27, a modest beat of $0.02 (≈1.58%). Book value per share equals $17.14 and price-to-book stands at 3.55, below the industry peer mean price-to-book of 5.63. Valuation metrics show P/E of 47.19 and EV-to-revenue around 10.99; WMDST values the stock as under-valued, a view supported by positive free cash flow and active share repurchases totaling $100.0 million in the most recent quarter.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 363.4 M |
| Operating Cash Flow | $ 70.9 M | |
| Capital Expenditures | $ -17.66 M | |
| Change In Working Capital | $ 4.7 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -117.93 M | |
| End Period Cash Flow | $ 245.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 346.4 M | |
| Forward Revenue | $ -280.03 M | |
| COSTS | ||
| Cost Of Revenue | $ 148.1 M | |
| Depreciation | $ 16.8 M | |
| Depreciation and Amortization | $ 27.3 M | |
| Research and Development | $ 14.4 M | |
| Total Operating Expenses | $ 294.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 198.2 M | |
| EBITDA | $ 4.3 M | |
| EBIT | $ -23.02 M | |
| Operating Income | $ 52.3 M | |
| Interest Income | — | |
| Interest Expense | $ 5.4 M | |
| Net Interest Income | $ -5.37 M | |
| Income Before Tax | $ -28.40 M | |
| Tax Provision | $ -8.25 M | |
| Tax Rate | 29.057 % | |
| Net Income | $ -20.15 M | |
| Net Income From Continuing Operations | $ -20.15 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.27 | |
| EPS Actual | $ 1.29 | |
| EPS Difference | $ 0.02 | |
| EPS Surprise | 1.575 % | |
| Forward EPS | $ 1.44 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.4 B | |
| Intangible Assets | $ 1.1 B | |
| Net Tangible Assets | $ -307.70 M | |
| Total Current Assets | $ 834.9 M | |
| Cash and Short-Term Investments | $ 245.4 M | |
| Cash | $ 245.4 M | |
| Net Receivables | $ 216.9 M | |
| Inventory | $ 306.4 M | |
| Long-Term Investments | $ 141.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 51.1 M | |
| Short-Term Debt | $ 5.0 M | |
| Total Current Liabilities | $ 282.6 M | |
| Net Debt | $ 979.1 M | |
| Total Debt | $ 1.2 B | |
| Total Liabilities | $ 1.6 B | |
| EQUITY | ||
| Total Equity | $ 796.3 M | |
| Retained Earnings | $ 279.3 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 17.14 | |
| Shares Outstanding | 45.253 M | |
| Revenue Per-Share | $ 7.45 | |
| VALUATION | Market Capitalization | $ 2.8 B |
| Enterprise Value | $ 3.8 B | |
| Enterprise Multiple | 886.806 | |
| Enterprise Multiple QoQ | 1884.942 % | |
| Enterprise Multiple YoY | 2095.221 % | |
| Enterprise Multiple IPRWA | HAE: 886.806 high: 167.868 mean: 82.388 median: 80.811 low: -193.913 |
|
| EV/R | 10.994 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.009 | |
| Asset To Liability | 1.498 | |
| Debt To Capital | 0.606 | |
| Debt To Assets | 0.511 | |
| Debt To Assets QoQ | 3.952 % | |
| Debt To Assets YoY | 2.279 % | |
| Debt To Assets IPRWA | high: 0.725 HAE: 0.511 mean: 0.268 median: 0.249 low: 0.002 |
|
| Debt To Equity | 1.538 | |
| Debt To Equity QoQ | 14.443 % | |
| Debt To Equity YoY | 3.061 % | |
| Debt To Equity IPRWA | high: 4.524 HAE: 1.538 mean: 0.539 median: 0.426 low: -0.465 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.552 | |
| Price To Book QoQ | -4.012 % | |
| Price To Book YoY | -6.037 % | |
| Price To Book IPRWA | high: 20.943 mean: 5.629 median: 4.227 HAE: 3.552 low: -12.173 |
|
| Price To Earnings (P/E) | 47.188 | |
| Price To Earnings QoQ | -14.181 % | |
| Price To Earnings YoY | -9.086 % | |
| Price To Earnings IPRWA | high: 194.313 mean: 120.583 median: 98.047 HAE: 47.188 low: -198.766 |
|
| PE/G Ratio | 1.318 | |
| Price To Sales (P/S) | 8.167 | |
| Price To Sales QoQ | -17.925 % | |
| Price To Sales YoY | -12.989 % | |
| Price To Sales IPRWA | high: 62.134 mean: 29.586 median: 21.968 HAE: 8.167 low: 0.285 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 44.088 | |
| Forward PE/G | 1.232 | |
| Forward P/S | -9.825 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -61.589 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.142 | |
| Asset Turnover Ratio QoQ | 3.143 % | |
| Asset Turnover Ratio YoY | 6.812 % | |
| Asset Turnover Ratio IPRWA | high: 0.411 HAE: 0.142 median: 0.128 mean: 0.122 low: 0.002 |
|
| Receivables Turnover | 1.679 | |
| Receivables Turnover Ratio QoQ | -0.246 % | |
| Receivables Turnover Ratio YoY | 5.284 % | |
| Receivables Turnover Ratio IPRWA | high: 3.141 mean: 1.938 HAE: 1.679 median: 1.582 low: 0.361 |
|
| Inventory Turnover | 0.472 | |
| Inventory Turnover Ratio QoQ | 13.619 % | |
| Inventory Turnover Ratio YoY | 24.38 % | |
| Inventory Turnover Ratio IPRWA | high: 2.164 mean: 0.607 median: 0.509 HAE: 0.472 low: 0.137 |
|
| Days Sales Outstanding (DSO) | 54.347 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 230.661 | |
| Cash Conversion Cycle Days QoQ | -4.87 % | |
| Cash Conversion Cycle Days YoY | -0.704 % | |
| Cash Conversion Cycle Days IPRWA | high: 587.726 HAE: 230.661 median: 180.7 mean: 160.138 low: -133.614 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.627 | |
| CapEx To Revenue | -0.051 | |
| CapEx To Depreciation | -1.05 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.0 B | |
| Net Invested Capital | $ 2.0 B | |
| Invested Capital | $ 2.0 B | |
| Net Tangible Assets | $ -307.70 M | |
| Net Working Capital | $ 552.3 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.869 | |
| Current Ratio | 2.954 | |
| Current Ratio QoQ | 69.013 % | |
| Current Ratio YoY | 82.669 % | |
| Current Ratio IPRWA | high: 14.36 HAE: 2.954 mean: 2.728 median: 2.112 low: 0.038 |
|
| Quick Ratio | 1.87 | |
| Quick Ratio QoQ | 62.195 % | |
| Quick Ratio YoY | 89.734 % | |
| Quick Ratio IPRWA | high: 12.588 mean: 2.016 HAE: 1.87 median: 1.518 low: 0.37 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 285.184 | |
| Cost Of Debt | 0.311 % | |
| Interest Coverage Ratio | -4.285 | |
| Interest Coverage Ratio QoQ | -147.177 % | |
| Interest Coverage Ratio YoY | -103.592 % | |
| Interest Coverage Ratio IPRWA | high: 87.935 mean: 18.005 median: 13.911 HAE: -4.285 low: -102.892 |
|
| Operating Cash Flow Ratio | 0.011 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 33.322 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -3.812 % | |
| Revenue Growth | 2.178 % | |
| Revenue Growth QoQ | -38.82 % | |
| Revenue Growth YoY | -142.308 % | |
| Revenue Growth IPRWA | high: 16.503 % HAE: 2.178 % median: -6.009 % mean: -7.868 % low: -65.483 % |
|
| Earnings Growth | 35.789 % | |
| Earnings Growth QoQ | 1036.159 % | |
| Earnings Growth YoY | 751.713 % | |
| Earnings Growth IPRWA | high: 200.0 % HAE: 35.789 % median: -7.623 % mean: -14.509 % low: -145.833 % |
|
| MARGINS | ||
| Gross Margin | 57.229 % | |
| Gross Margin QoQ | -4.15 % | |
| Gross Margin YoY | -1.995 % | |
| Gross Margin IPRWA | high: 95.029 % mean: 63.543 % median: 63.289 % HAE: 57.229 % low: 7.731 % |
|
| EBIT Margin | -6.648 % | |
| EBIT Margin QoQ | -133.436 % | |
| EBIT Margin YoY | -130.809 % | |
| EBIT Margin IPRWA | high: 63.148 % median: 21.811 % mean: 20.437 % HAE: -6.648 % low: -233.035 % |
|
| Return On Sales (ROS) | 15.112 % | |
| Return On Sales QoQ | -24.793 % | |
| Return On Sales YoY | -29.966 % | |
| Return On Sales IPRWA | high: 63.148 % median: 20.603 % mean: 20.477 % HAE: 15.112 % low: -219.267 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 53.3 M | |
| Free Cash Flow Yield | 1.883 % | |
| Free Cash Flow Yield QoQ | -27.185 % | |
| Free Cash Flow Yield YoY | -42.097 % | |
| Free Cash Flow Yield IPRWA | high: 7.748 % HAE: 1.883 % mean: 0.511 % median: 0.47 % low: -15.26 % |
|
| Free Cash Growth | -38.91 % | |
| Free Cash Growth QoQ | 116.672 % | |
| Free Cash Growth YoY | -120.86 % | |
| Free Cash Growth IPRWA | high: 324.237 % mean: -32.269 % median: -37.858 % HAE: -38.91 % low: -397.308 % |
|
| Free Cash To Net Income | -2.645 | |
| Cash Flow Margin | 0.924 % | |
| Cash Flow To Earnings | -0.159 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -0.825 % | |
| Return On Assets QoQ | -145.48 % | |
| Return On Assets YoY | -135.438 % | |
| Return On Assets IPRWA | high: 5.251 % mean: 2.057 % median: 1.583 % HAE: -0.825 % low: -28.223 % |
|
| Return On Capital Employed (ROCE) | -1.09 % | |
| Return On Equity (ROE) | -0.025 | |
| Return On Equity QoQ | -151.538 % | |
| Return On Equity YoY | -135.815 % | |
| Return On Equity IPRWA | high: 0.413 median: 0.032 mean: 0.031 HAE: -0.025 low: -0.899 |
|
| DuPont ROE | -2.359 % | |
| Return On Invested Capital (ROIC) | -0.808 % | |
| Return On Invested Capital QoQ | -134.325 % | |
| Return On Invested Capital YoY | -128.272 % | |
| Return On Invested Capital IPRWA | high: 8.753 % mean: 2.458 % median: 2.32 % HAE: -0.808 % low: -14.938 % |
|