Recent News
June 11, 2026 — Company filings confirm the ongoing stock repurchase program authorized up to $1 billion, with periodic updates showing continued repurchase activity; the filings restate the authorization and related disclosure. June 1–2, 2026 — an 8-K and related press release restated corporate disclosures and investor communications, including presentation timing. May 6–7, 2026 — management presented at a technology/media conference and released fiscal third-quarter results (quarter ended March 31, 2026).
Technical Analysis
Directional indicators (ADX/DI+/DI-): ADX at 24.04 signals an emerging trend; DI+ at 29.4 increasing while DI- at 15.55 decreasing indicates bullish directional momentum supporting the near-term price bias toward the valuation-driven upside.
MACD: MACD at 0.47 above the signal line at 0.21 with an increasing MACD trend indicates bullish momentum and a recent bullish MACD cross, reinforcing upward price pressure consistent with the introduction.
MRO (Momentum/Regression Oscillator): MRO at -9.16 (negative) indicates the current price sits below the model target and therefore carries potential to move higher; the MRO trend increasing suggests that upside potential remains present but is moderating as the oscillator moves toward zero.
RSI and momentum breadth: RSI at 61.98 and increasing denotes positive momentum without reaching overbought territory; this level supports additional short-term gains while leaving limited room before higher RSI thresholds.
Price vs moving averages, bands, and cloud: Current close $28.68 trades above the 12-day EMA $27.25 and the 200-day average $25.74, indicating price strength across horizons. Price sits near the upper Bollinger band (upper 1x = $28.05; upper 2x = $29.31), suggesting short-term extension but not a parabolic move beyond the 2x band. Ichimoku components (Tenkan $26.65; Kijun $26.52; cloud supports $25.62–$26.41) provide support below current price.
Volume and volatility: Daily volume (~3.09M) runs below the 10-, 50- and 200-day averages, indicating recent advances occur on lighter-than-average participation. 42-day and 52-week volatilities remain low (~2%), and beta metrics show muted correlation (42-day beta -0.46; 52-week beta 0.37), consistent with subdued market-driven swings rather than high speculative turnover.
Fundamental Analysis
Profitability and margins: Operating (EBIT) margin at 10.114% improved 15.443% year-over-year while declining 40.722% quarter-over-quarter; EBIT stands at $221.0M and EBITDA at $343.0M. Operating margin sits below the industry peer mean (15.892%) and industry peer median (19.967%) but above the industry peer low (-43.459%). These margin dynamics align with a company showing YoY improvement yet facing sequential pressure this quarter.
Revenue and earnings growth: Total revenue $2,185.0M; revenue growth shows -7.494% (reported revenueGrowth) and a year-over-year contraction of -26.759% on the revenueGrowthYoY metric, while quarter-over-quarter revenue growth registered a sharp -551.446% (revenueGrowthQoQ). Net income $89.0M and EPS $0.21 beat the estimate of $0.20 by $0.01, an EPS surprise of 5.0%.
Capital structure, cash flow, and liquidity: Cash and short-term investments $2,171.0M, operating cash flow $493.0M, and free cash flow $393.0M produce a free cash flow yield of 2.828%. Current ratio 1.70 and quick ratio 1.59 show coverage of short-term obligations; debt-to-EBITDA at 8.54 indicates leverage measured against earnings while interest coverage remains robust at 73.67, reflecting low interest expense relative to operating profit.
Valuation context: Price-to-earnings at 120.28 and enterprise multiple 42.73 reflect a marked valuation premium versus the industry peer mean P/E of 8.73 and industry peer median P/E of 1.55; price-to-sales 6.36 sits above the industry peer mean of 5.61. Forward P/E near 77.34 and forward free cash flow yield compression underscore the premium. The current valuation, as determined by WMDST, classifies the stock as over-valued.
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 | $ 2.1 B |
| Operating Cash Flow | $ 493.0 M | |
| Capital Expenditures | $ -100.00 M | |
| Change In Working Capital | $ 205.0 M | |
| Dividends Paid | $ -45.00 M | |
| Cash Flow Delta | $ 120.0 M | |
| End Period Cash Flow | $ 2.2 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.2 B | |
| Forward Revenue | $ 1.1 B | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 122.0 M | |
| Depreciation and Amortization | $ 122.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 2.0 B | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ 343.0 M | |
| EBIT | $ 221.0 M | |
| Operating Income | $ 221.0 M | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | $ 5.0 M | |
| Income Before Tax | $ 189.0 M | |
| Tax Provision | $ 68.0 M | |
| Tax Rate | 35.979 % | |
| Net Income | $ 89.0 M | |
| Net Income From Continuing Operations | $ 121.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.20 | |
| EPS Actual | $ 0.21 | |
| EPS Difference | $ 0.01 | |
| EPS Surprise | 5.0 % | |
| Forward EPS | $ 0.32 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 15.5 B | |
| Intangible Assets | $ 6.4 B | |
| Net Tangible Assets | $ 2.2 B | |
| Total Current Assets | $ 4.6 B | |
| Cash and Short-Term Investments | $ 2.2 B | |
| Cash | $ 2.2 B | |
| Net Receivables | $ 1.8 B | |
| Inventory | $ 303.0 M | |
| Long-Term Investments | $ 136.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 384.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 2.7 B | |
| Net Debt | — | |
| Total Debt | $ 2.9 B | |
| Total Liabilities | $ 6.2 B | |
| EQUITY | ||
| Total Equity | $ 8.6 B | |
| Retained Earnings | $ -452.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 15.60 | |
| Shares Outstanding | 550.237 M | |
| Revenue Per-Share | $ 3.97 | |
| VALUATION | Market Capitalization | $ 13.9 B |
| Enterprise Value | $ 14.7 B | |
| Enterprise Multiple | 42.73 | |
| Enterprise Multiple QoQ | 42.517 % | |
| Enterprise Multiple YoY | -23.425 % | |
| Enterprise Multiple IPRWA | high: 137.3 median: 137.3 mean: 117.212 NWSA: 42.73 low: -36.86 |
|
| EV/R | 6.708 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.808 | |
| Asset To Liability | 2.489 | |
| Debt To Capital | 0.254 | |
| Debt To Assets | 0.189 | |
| Debt To Assets QoQ | 0.164 % | |
| Debt To Assets YoY | 7.073 % | |
| Debt To Assets IPRWA | high: 1.73 median: 0.391 mean: 0.388 NWSA: 0.189 low: 0.001 |
|
| Debt To Equity | 0.341 | |
| Debt To Equity QoQ | 2.635 % | |
| Debt To Equity YoY | -4.24 % | |
| Debt To Equity IPRWA | high: 5.909 mean: 1.046 median: 0.934 NWSA: 0.341 low: -5.424 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.619 | |
| Price To Book QoQ | -3.483 % | |
| Price To Book YoY | -13.501 % | |
| Price To Book IPRWA | high: 2.697 median: 1.731 mean: 1.699 NWSA: 1.619 low: -0.475 |
|
| Price To Earnings (P/E) | 120.281 | |
| Price To Earnings QoQ | 81.905 % | |
| Price To Earnings YoY | -24.542 % | |
| Price To Earnings IPRWA | high: 137.735 NWSA: 120.281 mean: 8.732 median: 1.545 low: -45.776 |
|
| PE/G Ratio | -2.532 | |
| Price To Sales (P/S) | 6.361 | |
| Price To Sales QoQ | 1.868 % | |
| Price To Sales YoY | -16.774 % | |
| Price To Sales IPRWA | high: 17.816 NWSA: 6.361 median: 5.913 mean: 5.613 low: 0.008 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 77.335 | |
| Forward PE/G | -1.628 | |
| Forward P/S | 12.881 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 6.027 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.141 | |
| Asset Turnover Ratio QoQ | -8.007 % | |
| Asset Turnover Ratio YoY | 14.773 % | |
| Asset Turnover Ratio IPRWA | high: 0.243 NWSA: 0.141 mean: 0.079 median: 0.064 low: 0.063 |
|
| Receivables Turnover | 1.19 | |
| Receivables Turnover Ratio QoQ | -11.096 % | |
| Receivables Turnover Ratio YoY | -5.397 % | |
| Receivables Turnover Ratio IPRWA | high: 3.782 median: 2.634 mean: 2.494 NWSA: 1.19 low: 0.407 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 76.675 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 76.675 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | 5.705 % | |
| Cash Conversion Cycle Days IPRWA | high: 160.345 NWSA: 76.675 mean: -79.45 low: -102.184 median: -102.184 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.157 | |
| CapEx To Revenue | -0.046 | |
| CapEx To Depreciation | -0.82 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 10.6 B | |
| Net Invested Capital | $ 10.6 B | |
| Invested Capital | $ 10.6 B | |
| Net Tangible Assets | $ 2.2 B | |
| Net Working Capital | $ 1.9 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.807 | |
| Current Ratio | 1.702 | |
| Current Ratio QoQ | -6.122 % | |
| Current Ratio YoY | 1.547 % | |
| Current Ratio IPRWA | high: 2.896 median: 2.387 mean: 2.114 NWSA: 1.702 low: 0.401 |
|
| Quick Ratio | 1.59 | |
| Quick Ratio QoQ | -6.048 % | |
| Quick Ratio YoY | -0.565 % | |
| Quick Ratio IPRWA | high: 2.645 mean: 2.364 median: 2.363 NWSA: 1.59 low: 0.729 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.539 | |
| Cost Of Debt | 0.066 % | |
| Interest Coverage Ratio | 73.667 | |
| Interest Coverage Ratio QoQ | -45.161 % | |
| Interest Coverage Ratio YoY | 25.568 % | |
| Interest Coverage Ratio IPRWA | NWSA: 73.667 high: 3.652 median: 1.752 mean: 1.643 low: -13.464 |
|
| Operating Cash Flow Ratio | 0.107 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.978 | |
| Dividend Payout Ratio | 0.506 | |
| Dividend Rate | $ 0.08 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.039 % | |
| Revenue Growth | -7.494 % | |
| Revenue Growth QoQ | -551.446 % | |
| Revenue Growth YoY | -26.759 % | |
| Revenue Growth IPRWA | high: 17.106 % median: -0.245 % mean: -1.971 % NWSA: -7.494 % low: -44.154 % |
|
| Earnings Growth | -47.5 % | |
| Earnings Growth QoQ | -158.056 % | |
| Earnings Growth YoY | -2.032 % | |
| Earnings Growth IPRWA | high: 134.615 % NWSA: -47.5 % mean: -152.888 % low: -189.45 % median: -189.45 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | 10.114 % | |
| EBIT Margin QoQ | -40.722 % | |
| EBIT Margin YoY | 15.443 % | |
| EBIT Margin IPRWA | high: 31.042 % median: 19.967 % mean: 15.892 % NWSA: 10.114 % low: -43.459 % |
|
| Return On Sales (ROS) | 10.114 % | |
| Return On Sales QoQ | -40.722 % | |
| Return On Sales YoY | 15.443 % | |
| Return On Sales IPRWA | high: 25.326 % mean: 11.763 % median: 11.175 % NWSA: 10.114 % low: -42.683 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 393.0 M | |
| Free Cash Flow Yield | 2.828 % | |
| Free Cash Flow Yield QoQ | 204.413 % | |
| Free Cash Flow Yield YoY | -24.486 % | |
| Free Cash Flow Yield IPRWA | high: 18.513 % NWSA: 2.828 % mean: 0.878 % median: 0.201 % low: -18.904 % |
|
| Free Cash Growth | 186.861 % | |
| Free Cash Growth QoQ | -101.354 % | |
| Free Cash Growth YoY | -32.854 % | |
| Free Cash Growth IPRWA | high: 251.322 % median: 251.322 % NWSA: 186.861 % mean: 177.338 % low: -360.87 % |
|
| Free Cash To Net Income | 4.416 | |
| Cash Flow Margin | 13.227 % | |
| Cash Flow To Earnings | 3.247 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.574 % | |
| Return On Assets QoQ | -54.117 % | |
| Return On Assets YoY | -8.744 % | |
| Return On Assets IPRWA | high: 3.311 % NWSA: 0.574 % median: 0.454 % mean: 0.339 % low: -5.963 % |
|
| Return On Capital Employed (ROCE) | 1.723 % | |
| Return On Equity (ROE) | 0.01 | |
| Return On Equity QoQ | -52.756 % | |
| Return On Equity YoY | -17.436 % | |
| Return On Equity IPRWA | high: 0.081 median: 0.011 NWSA: 0.01 mean: 0.008 low: -0.134 |
|
| DuPont ROE | 1.024 % | |
| Return On Invested Capital (ROIC) | 1.338 % | |
| Return On Invested Capital QoQ | -45.918 % | |
| Return On Invested Capital YoY | 9.046 % | |
| Return On Invested Capital IPRWA | high: 4.237 % median: 1.392 % NWSA: 1.338 % mean: 1.163 % low: -3.636 % |
|