Recent News
On May 19, 2026 the company announced first-quarter 2026 unaudited results; regulatory filings and next-day disclosures show a sustained share-repurchase program active since March 30, with additional repurchases disclosed in April, May and mid-June 2026; the company also reported annual general meeting activity in June.
Technical Analysis
ADX / DI+ / DI-: ADX at 22.9 signals an emerging trend strength; DI+ decreasing and DI- increasing together create a bearish directional bias that pressures near-term price action relative to the current valuation.
MACD: MACD at -0.59 and decreasing, below the signal line (-0.39), indicates bearish momentum that weakens upside conviction until momentum reverses.
MRO: MRO at -12.49 (negative) shows the price sits below the target model, implying mean-reversion potential that could cap downside against the company’s undervalued standing.
RSI: RSI 42.9 and decreasing reflects mild bearish momentum without an oversold condition, leaving room for additional downside before technical exhaustion.
Price vs Moving Averages & Bands: Last close $14.26 sits below the 20-day ($15.56), 50-day ($16.73) and 200-day ($16.94) averages, reinforcing short-term bearish pressure; price trades near the lower Bollinger band (1x lower $14.60, 2x lower $13.64), increasing the probability of short-term oscillation around support levels.
Volatility & Beta: 42-day volatility 3% and 52-week volatility 2% with 42-day beta 0.97 suggest market-driven moves will track broader risk appetite; current volume near recent averages offers limited conviction for large directional moves.
Fundamental Analysis
Profitability: EBIT margin stands at 6.74%, up 166.07% year-over-year and down 35.40% quarter-over-quarter; the margin sits above the industry peer mean (approximately 3.11%) and median (approximately 1.99%), supporting the current valuation given WMDST’s assessment. EBIT and EBITDA both equal $1,272,720,000, and operating income matches that level.
Earnings & Estimates: Reported EPS $1.42 versus an estimate of $0.91 produced a $0.51 beat, a 56.04% surprise ratio, which improves near-term earnings credibility and underpins the stated undervaluation.
Top-line Dynamics: Total revenue $18,891,977,000 shows YoY revenue contraction of 40.69% while quarter-over-quarter revenue growth registers a 296.53% increase, indicating a volatile revenue base with a recent sequential rebound that needs confirmation in subsequent periods.
Cash Flow & Liquidity: Operating and free cash flow both show a deficit of $1,471,302,000, with free cash flow yield -2.58%; cash and short-term investments $44,985,887,000 and a cash ratio ~109.6% provide substantial liquidity, yet negative free cash flow limits near-term balance-sheet optionality absent sustained cash generation improvements.
Leverage & Coverage: Total debt $16,270,971,000 gives debt-to-equity 0.25 and debt-to-assets 0.14 while interest coverage near 45.2x signals extremely comfortable interest service capacity despite a debt-to-EBITDA metric of 12.78 that reflects low current EBITDA scale relative to nominal debt. Net working capital $26,036,018,000 and current ratio 1.63 indicate adequate short-term buffers.
Valuation Notes: P/E ~11.91 and P/B ~0.88 sit below the industry peer mean and median for price-to-book (industry peer mean ~2.81, median ~2.46), while forward P/E ~60.21 compresses materially versus trailing P/E; WMDST values the stock as under-valued given the mix of above-peer operating margin, liquidity, and EPS beat offset by volatile top-line and negative free cash flow.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-19 |
| NEXT REPORT DATE: | 2026-08-18 |
| CASH FLOW | Begin Period Cash Flow | $ 15.9 B |
| Operating Cash Flow | $ -1.47 B | |
| Capital Expenditures | — | |
| Change In Working Capital | $ -2.73 B | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 4.0 B | |
| End Period Cash Flow | $ 20.0 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 18.9 B | |
| Forward Revenue | $ 3.6 B | |
| COSTS | ||
| Cost Of Revenue | $ 14.3 B | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | $ 492.6 M | |
| Total Operating Expenses | $ 17.6 B | |
| PROFITABILITY | ||
| Gross Profit | $ 4.6 B | |
| EBITDA | $ 1.3 B | |
| EBIT | $ 1.3 B | |
| Operating Income | $ 1.3 B | |
| Interest Income | $ 134.9 M | |
| Interest Expense | — | |
| Net Interest Income | $ 134.9 M | |
| Income Before Tax | $ 1.8 B | |
| Tax Provision | $ 576.6 M | |
| Tax Rate | 31.481 % | |
| Net Income | $ 1.3 B | |
| Net Income From Continuing Operations | $ 1.3 B | |
| EARNINGS | ||
| EPS Estimate | $ 0.91 | |
| EPS Actual | $ 1.42 | |
| EPS Difference | $ 0.51 | |
| EPS Surprise | 56.044 % | |
| Forward EPS | $ 0.28 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 112.3 B | |
| Intangible Assets | $ 5.4 B | |
| Net Tangible Assets | $ 59.0 B | |
| Total Current Assets | $ 67.1 B | |
| Cash and Short-Term Investments | $ 45.0 B | |
| Cash | $ 11.1 B | |
| Net Receivables | $ 4.0 B | |
| Inventory | $ 2.8 B | |
| Long-Term Investments | $ 1.9 B | |
| LIABILITIES | ||
| Accounts Payable | $ 5.0 B | |
| Short-Term Debt | $ 817.5 M | |
| Total Current Liabilities | $ 41.0 B | |
| Net Debt | — | |
| Total Debt | $ 16.3 B | |
| Total Liabilities | $ 47.9 B | |
| EQUITY | ||
| Total Equity | $ 64.4 B | |
| Retained Earnings | $ 2.1 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 19.13 | |
| Shares Outstanding | 3.366 B | |
| Revenue Per-Share | $ 5.61 | |
| VALUATION | Market Capitalization | $ 56.9 B |
| Enterprise Value | $ 28.2 B | |
| Enterprise Multiple | 22.168 | |
| Enterprise Multiple QoQ | 72.45 % | |
| Enterprise Multiple YoY | -72.838 % | |
| Enterprise Multiple IPRWA | high: 218.433 median: 88.276 mean: 87.491 BEKE: 22.168 low: -182.291 |
|
| EV/R | 1.493 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.745 | |
| Asset To Liability | 2.345 | |
| Debt To Capital | 0.202 | |
| Debt To Assets | 0.145 | |
| Debt To Assets QoQ | -9.979 % | |
| Debt To Assets YoY | -15.301 % | |
| Debt To Assets IPRWA | high: 1.342 median: 0.299 mean: 0.291 BEKE: 0.145 low: 0.0 |
|
| Debt To Equity | 0.253 | |
| Debt To Equity QoQ | -10.552 % | |
| Debt To Equity YoY | -22.122 % | |
| Debt To Equity IPRWA | high: 4.543 median: 0.956 mean: 0.94 BEKE: 0.253 low: -2.299 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.884 | |
| Price To Book QoQ | 0.751 % | |
| Price To Book YoY | -13.664 % | |
| Price To Book IPRWA | high: 8.558 mean: 2.814 median: 2.463 BEKE: 0.884 low: -1.436 |
|
| Price To Earnings (P/E) | 11.911 | |
| Price To Earnings QoQ | -68.308 % | |
| Price To Earnings YoY | -29.832 % | |
| Price To Earnings IPRWA | high: 353.676 mean: 102.018 median: 90.79 BEKE: 11.911 low: -263.326 |
|
| PE/G Ratio | 0.057 | |
| Price To Sales (P/S) | 3.013 | |
| Price To Sales QoQ | 14.648 % | |
| Price To Sales YoY | -0.297 % | |
| Price To Sales IPRWA | high: 62.054 mean: 9.938 median: 4.066 BEKE: 3.013 low: 0.033 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 60.206 | |
| Forward PE/G | 0.288 | |
| Forward P/S | 16.059 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.028 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.165 | |
| Asset Turnover Ratio QoQ | -12.261 % | |
| Asset Turnover Ratio YoY | -6.716 % | |
| Asset Turnover Ratio IPRWA | high: 0.56 mean: 0.201 BEKE: 0.165 median: 0.13 low: 0.002 |
|
| Receivables Turnover | 4.738 | |
| Receivables Turnover Ratio QoQ | -17.628 % | |
| Receivables Turnover Ratio YoY | 5.992 % | |
| Receivables Turnover Ratio IPRWA | high: 20.641 BEKE: 4.738 mean: 3.163 median: 1.578 low: 0.281 |
|
| Inventory Turnover | 5.069 | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | high: 44.428 mean: 10.31 BEKE: 5.069 median: 1.057 low: 0.003 |
|
| Days Sales Outstanding (DSO) | 19.258 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 5.126 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | -140.502 % | |
| Cash Conversion Cycle Days IPRWA | high: 167.532 mean: 31.453 median: 9.285 BEKE: 5.126 low: -50.366 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.726 | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 65.1 B | |
| Net Invested Capital | $ 66.0 B | |
| Invested Capital | $ 66.0 B | |
| Net Tangible Assets | $ 59.0 B | |
| Net Working Capital | $ 26.0 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.096 | |
| Current Ratio | 1.634 | |
| Current Ratio QoQ | 1.741 % | |
| Current Ratio YoY | 22.893 % | |
| Current Ratio IPRWA | high: 10.921 mean: 1.811 BEKE: 1.634 median: 1.384 low: 0.471 |
|
| Quick Ratio | 1.566 | |
| Quick Ratio QoQ | 1.757 % | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | high: 11.239 mean: 1.907 BEKE: 1.566 median: 1.492 low: 0.448 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.784 | |
| Cost Of Debt | 0.106 % | |
| Interest Coverage Ratio | 45.207 | |
| Interest Coverage Ratio QoQ | -44.995 % | |
| Interest Coverage Ratio YoY | 115.509 % | |
| Interest Coverage Ratio IPRWA | BEKE: 45.207 high: 21.15 median: 3.119 mean: 2.904 low: -24.738 |
|
| Operating Cash Flow Ratio | 0.004 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 28.932 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -3.73 % | |
| Revenue Growth | -14.858 % | |
| Revenue Growth QoQ | 296.531 % | |
| Revenue Growth YoY | -40.687 % | |
| Revenue Growth IPRWA | high: 79.044 % mean: -3.085 % median: -5.215 % BEKE: -14.858 % low: -82.107 % |
|
| Earnings Growth | 208.696 % | |
| Earnings Growth QoQ | -454.148 % | |
| Earnings Growth YoY | 3239.136 % | |
| Earnings Growth IPRWA | BEKE: 208.696 % high: 163.636 % median: -41.026 % mean: -42.805 % low: -123.529 % |
|
| MARGINS | ||
| Gross Margin | 24.137 % | |
| Gross Margin QoQ | 12.6 % | |
| Gross Margin YoY | 16.801 % | |
| Gross Margin IPRWA | high: 100.0 % mean: 41.805 % median: 38.306 % BEKE: 24.137 % low: -50.277 % |
|
| EBIT Margin | 6.737 % | |
| EBIT Margin QoQ | -35.395 % | |
| EBIT Margin YoY | 166.074 % | |
| EBIT Margin IPRWA | high: 61.604 % BEKE: 6.737 % mean: 3.113 % median: 1.995 % low: -58.12 % |
|
| Return On Sales (ROS) | 6.737 % | |
| Return On Sales QoQ | 226.88 % | |
| Return On Sales YoY | 166.074 % | |
| Return On Sales IPRWA | high: 41.436 % BEKE: 6.737 % mean: 5.987 % median: 3.287 % low: -70.996 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -1.47 B | |
| Free Cash Flow Yield | -2.584 % | |
| Free Cash Flow Yield QoQ | -215.564 % | |
| Free Cash Flow Yield YoY | -54.054 % | |
| Free Cash Flow Yield IPRWA | high: 20.933 % mean: -1.472 % median: -2.117 % BEKE: -2.584 % low: -11.83 % |
|
| Free Cash Growth | -212.827 % | |
| Free Cash Growth QoQ | -499.961 % | |
| Free Cash Growth YoY | 8.235 % | |
| Free Cash Growth IPRWA | high: 507.935 % mean: -48.892 % median: -164.903 % BEKE: -212.827 % low: -498.104 % |
|
| Free Cash To Net Income | -1.172 | |
| Cash Flow Margin | 0.841 % | |
| Cash Flow To Earnings | 0.126 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.097 % | |
| Return On Assets QoQ | 1382.432 % | |
| Return On Assets YoY | 69.029 % | |
| Return On Assets IPRWA | high: 2.387 % BEKE: 1.097 % median: 0.627 % mean: 0.456 % low: -4.297 % |
|
| Return On Capital Employed (ROCE) | 1.786 % | |
| Return On Equity (ROE) | 0.019 | |
| Return On Equity QoQ | 1377.273 % | |
| Return On Equity YoY | 56.879 % | |
| Return On Equity IPRWA | high: 0.037 BEKE: 0.019 mean: 0.013 median: 0.01 low: -0.097 |
|
| DuPont ROE | 1.92 % | |
| Return On Invested Capital (ROIC) | 1.322 % | |
| Return On Invested Capital QoQ | -48.52 % | |
| Return On Invested Capital YoY | 149.905 % | |
| Return On Invested Capital IPRWA | high: 3.815 % BEKE: 1.322 % median: 0.96 % mean: 0.581 % low: -4.039 % |
|