Technical Analysis
Directional indicators show no established trend (ADX 18.72) but short-term direction favors buyers: DI+ at 19.31 registered a dip & reversal (bullish), and DI- at 27.84 registered a peak & reversal (bullish). The low ADX signals a weak trend despite these directional shifts, so any bullish signal lacks broad strength.
MACD sits negative at -0.52 with a dip & reversal in momentum, indicating bullish momentum developing; however MACD remains below its signal line (-0.46), so momentum improvement requires confirmation from a cross above the signal to become decisive.
MRO registers -2.7 (negative), indicating price below target and a bias toward mean reversion higher; the MRO pattern shows a peak & reversal, reducing immediate strength of that reversion signal.
RSI at 44.32 and trending lower reflects below‑neutral momentum, implying limited buying pressure and vulnerability to further pullbacks if volume rises on down days.
Price sits at $18.98 above the 200‑day average ($17.98) but below the 50‑day average ($20.35) and the 20‑day average ($19.05). Shorter EMAs show a recent dip & reversal (12‑day EMA 18.95), placing price near the mid‑short-term band; Bollinger band position shows room toward the lower band (~$17.67) and the upper band (~$20.42). SuperTrend upper resistance resides near $20.04.
Volume slightly above the 10‑day average (today ~184k vs 10‑day avg 156k) without a confirming breakout reduces conviction for immediate trend continuation; 42‑day beta 1.22 and 52‑week beta 1.42 indicate above‑market volatility should momentum strengthen.
Fundamental Analysis
Profitability: EBIT margin stands at -0.823%, a decline QoQ of -59.81% and YoY of -14.72%, placing the company well below the industry peer mean EBIT margin (≈20.12%). Operating margin equals -0.976%, consistent with negative operating income ($-5,099,000) and net income ($-12,616,000), reflecting near‑term profitability pressure.
Revenue and growth: Total revenue reached $522,381,000 with YoY revenue change of -14.59% and a strong QoQ bounce of +43.85%. The YoY contraction signals soft end‑market demand versus the prior year, while the QoQ gain suggests seasonal or timing effects concentrated in the most recent period.
Cash and liquidity: Cash and short‑term investments total $29,578,000 while free cash flow shows a $-25,636,000 outflow and free cash flow yield of -5.47%. Cash conversion cycle at 156.0 days sits above the industry peer mean cash conversion cycle (~102.9 days), highlighting elevated working capital tied to inventory ($914,825,000) and receivables dynamics.
Balance sheet and leverage: Total debt $858,315,000 produces debt‑to‑assets of 53.15% and debt‑to‑equity of 1.515, slightly below the industry peer mean debt‑to‑equity (~1.84) but above the peer mean debt‑to‑assets (~49.69%). Net debt remains elevated ($736,029,000), and interest coverage stands negative at -0.526, limiting margin for additional interest costs.
Efficiency and margins: Asset turnover at 0.323 sits above the industry peer mean (≈0.176), indicating relatively higher revenue per asset dollar, but gross margin at 17.09% remains below the industry peer mean (~35.36%), compressing operating leverage and net profitability.
Earnings per share and valuation metrics: Reported EPS -$0.55 versus estimate -$0.53 produced a small negative surprise (-3.77%). Price multiples show a negative trailing P/E and a price‑to‑book of 0.83, well below the industry peer mean price‑to‑book (~5.44). WMDST values the stock as over‑valued given current fundamentals, elevated net debt, and weak earnings metrics despite an above‑median asset turnover.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-04-30 |
| REPORT DATE: | 2026-06-09 |
| NEXT REPORT DATE: | 2026-09-08 |
| CASH FLOW | Begin Period Cash Flow | $ 28.2 M |
| Operating Cash Flow | $ 710.0 K | |
| Capital Expenditures | $ -2.54 M | |
| Change In Working Capital | $ -21.81 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 1.4 M | |
| End Period Cash Flow | $ 29.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 522.4 M | |
| Forward Revenue | $ 25.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 433.1 M | |
| Depreciation | $ 9.0 M | |
| Depreciation and Amortization | $ 9.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 527.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 89.3 M | |
| EBITDA | $ 4.7 M | |
| EBIT | $ -4.30 M | |
| Operating Income | $ -5.10 M | |
| Interest Income | $ 1.3 M | |
| Interest Expense | $ 8.2 M | |
| Net Interest Income | $ -6.87 M | |
| Income Before Tax | $ -12.47 M | |
| Tax Provision | $ 141.0 K | |
| Tax Rate | 40.0 % | |
| Net Income | $ -12.62 M | |
| Net Income From Continuing Operations | $ -12.62 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.53 | |
| EPS Actual | $ -0.55 | |
| EPS Difference | $ -0.02 | |
| EPS Surprise | -3.774 % | |
| Forward EPS | $ -0.11 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.6 B | |
| Intangible Assets | $ 118.4 M | |
| Net Tangible Assets | $ 448.1 M | |
| Total Current Assets | $ 1.1 B | |
| Cash and Short-Term Investments | $ 29.6 M | |
| Cash | $ 29.6 M | |
| Net Receivables | $ 70.9 M | |
| Inventory | $ 914.8 M | |
| Long-Term Investments | $ 593.0 K | |
| LIABILITIES | ||
| Accounts Payable | $ 43.8 M | |
| Short-Term Debt | $ 615.1 M | |
| Total Current Liabilities | $ 788.5 M | |
| Net Debt | $ 736.0 M | |
| Total Debt | $ 858.3 M | |
| Total Liabilities | $ 1.0 B | |
| EQUITY | ||
| Total Equity | $ 566.5 M | |
| Retained Earnings | $ 293.5 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 24.30 | |
| Shares Outstanding | 23.309 M | |
| Revenue Per-Share | $ 22.41 | |
| VALUATION | Market Capitalization | $ 469.1 M |
| Enterprise Value | $ 1.3 B | |
| Enterprise Multiple | 274.444 | |
| Enterprise Multiple QoQ | -185.222 % | |
| Enterprise Multiple YoY | -37.482 % | |
| Enterprise Multiple IPRWA | TITN: 274.444 high: 58.234 median: 58.234 mean: 55.657 low: 18.454 |
|
| EV/R | 2.484 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.851 | |
| Asset To Liability | 1.54 | |
| Debt To Capital | 0.602 | |
| Debt To Assets | 0.532 | |
| Debt To Assets QoQ | 4.05 % | |
| Debt To Assets YoY | -5.543 % | |
| Debt To Assets IPRWA | high: 0.6 median: 0.6 TITN: 0.532 mean: 0.497 low: 0.007 |
|
| Debt To Equity | 1.515 | |
| Debt To Equity QoQ | 6.264 % | |
| Debt To Equity YoY | -9.317 % | |
| Debt To Equity IPRWA | high: 2.341 median: 2.341 mean: 1.837 TITN: 1.515 low: 0.02 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.828 | |
| Price To Book QoQ | 16.517 % | |
| Price To Book YoY | 23.534 % | |
| Price To Book IPRWA | high: 6.44 median: 5.647 mean: 5.44 TITN: 0.828 low: 0.557 |
|
| Price To Earnings (P/E) | -36.592 | |
| Price To Earnings QoQ | 196.935 % | |
| Price To Earnings YoY | 20.922 % | |
| Price To Earnings IPRWA | high: 138.864 median: 89.726 mean: 84.088 low: 75.229 TITN: -36.592 |
|
| PE/G Ratio | 0.595 | |
| Price To Sales (P/S) | 0.898 | |
| Price To Sales QoQ | 39.992 % | |
| Price To Sales YoY | 31.503 % | |
| Price To Sales IPRWA | high: 13.866 median: 11.821 mean: 10.61 low: 1.511 TITN: 0.898 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -173.774 | |
| Forward PE/G | 2.824 | |
| Forward P/S | 18.298 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.616 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.323 | |
| Asset Turnover Ratio QoQ | -14.717 % | |
| Asset Turnover Ratio YoY | -1.771 % | |
| Asset Turnover Ratio IPRWA | high: 0.423 TITN: 0.323 mean: 0.176 median: 0.124 low: 0.12 |
|
| Receivables Turnover | 7.004 | |
| Receivables Turnover Ratio QoQ | -6.832 % | |
| Receivables Turnover Ratio YoY | -9.852 % | |
| Receivables Turnover Ratio IPRWA | TITN: 7.004 high: 2.927 mean: 2.009 median: 1.93 low: 0.857 |
|
| Inventory Turnover | 0.476 | |
| Inventory Turnover Ratio QoQ | -17.828 % | |
| Inventory Turnover Ratio YoY | 4.498 % | |
| Inventory Turnover Ratio IPRWA | high: 7.68 mean: 1.076 median: 1.004 TITN: 0.476 low: 0.267 |
|
| Days Sales Outstanding (DSO) | 13.029 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 156.017 | |
| Cash Conversion Cycle Days QoQ | -7.598 % | |
| Cash Conversion Cycle Days YoY | 5.21 % | |
| Cash Conversion Cycle Days IPRWA | TITN: 156.017 high: 146.889 median: 121.251 mean: 102.905 low: -10.819 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.764 | |
| CapEx To Revenue | -0.005 | |
| CapEx To Depreciation | -0.282 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 717.0 M | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ 448.1 M | |
| Net Working Capital | $ 296.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.038 | |
| Current Ratio | 1.376 | |
| Current Ratio QoQ | -2.573 % | |
| Current Ratio YoY | 3.314 % | |
| Current Ratio IPRWA | high: 4.372 median: 2.264 mean: 2.2 low: 1.53 TITN: 1.376 |
|
| Quick Ratio | 0.215 | |
| Quick Ratio QoQ | -11.037 % | |
| Quick Ratio YoY | 18.719 % | |
| Quick Ratio IPRWA | high: 2.46 median: 2.022 mean: 1.875 low: 0.719 TITN: 0.215 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 181.5 | |
| Cost Of Debt | 0.583 % | |
| Interest Coverage Ratio | -0.526 | |
| Interest Coverage Ratio QoQ | -61.798 % | |
| Interest Coverage Ratio YoY | 5.867 % | |
| Interest Coverage Ratio IPRWA | high: 55.263 mean: 7.356 median: 4.221 low: 1.461 TITN: -0.526 |
|
| Operating Cash Flow Ratio | 0.001 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 6.491 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.133 % | |
| Revenue Growth | -18.611 % | |
| Revenue Growth QoQ | 4384.578 % | |
| Revenue Growth YoY | -14.589 % | |
| Revenue Growth IPRWA | high: 40.111 % median: 40.111 % mean: 33.951 % low: -8.823 % TITN: -18.611 % |
|
| Earnings Growth | -61.538 % | |
| Earnings Growth QoQ | -97.921 % | |
| Earnings Growth YoY | -52.971 % | |
| Earnings Growth IPRWA | high: 74.39 % mean: 60.311 % low: 10.0 % median: 10.0 % TITN: -61.538 % |
|
| MARGINS | ||
| Gross Margin | 17.092 % | |
| Gross Margin QoQ | 26.15 % | |
| Gross Margin YoY | 11.712 % | |
| Gross Margin IPRWA | high: 56.771 % median: 36.862 % mean: 35.358 % TITN: 17.092 % low: 14.068 % |
|
| EBIT Margin | -0.823 % | |
| EBIT Margin QoQ | -59.814 % | |
| EBIT Margin YoY | -14.715 % | |
| EBIT Margin IPRWA | high: 24.443 % median: 22.953 % mean: 20.118 % TITN: -0.823 % low: -3.291 % |
|
| Return On Sales (ROS) | -0.976 % | |
| Return On Sales QoQ | -28.341 % | |
| Return On Sales YoY | 1.14 % | |
| Return On Sales IPRWA | high: 24.69 % median: 20.837 % mean: 18.579 % TITN: -0.976 % low: -1.678 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -25.64 M | |
| Free Cash Flow Yield | -5.465 % | |
| Free Cash Flow Yield QoQ | -145.364 % | |
| Free Cash Flow Yield YoY | 1136.425 % | |
| Free Cash Flow Yield IPRWA | high: 4.201 % mean: 0.768 % median: 0.565 % low: -0.79 % TITN: -5.465 % |
|
| Free Cash Growth | -151.685 % | |
| Free Cash Growth QoQ | -358.451 % | |
| Free Cash Growth YoY | 49.148 % | |
| Free Cash Growth IPRWA | high: 522.778 % mean: -88.622 % TITN: -151.685 % median: -155.387 % low: -322.706 % |
|
| Free Cash To Net Income | 2.032 | |
| Cash Flow Margin | 0.136 % | |
| Cash Flow To Earnings | -0.056 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -0.781 % | |
| Return On Assets QoQ | -63.436 % | |
| Return On Assets YoY | 6.84 % | |
| Return On Assets IPRWA | high: 3.925 % mean: 2.057 % median: 1.685 % TITN: -0.781 % low: -0.911 % |
|
| Return On Capital Employed (ROCE) | -0.52 % | |
| Return On Equity (ROE) | -0.022 | |
| Return On Equity QoQ | -64.328 % | |
| Return On Equity YoY | 2.109 % | |
| Return On Equity IPRWA | high: 0.106 mean: 0.065 median: 0.065 low: -0.012 TITN: -0.022 |
|
| DuPont ROE | -2.202 % | |
| Return On Invested Capital (ROIC) | -0.194 % | |
| Return On Invested Capital QoQ | -67.72 % | |
| Return On Invested Capital YoY | -31.69 % | |
| Return On Invested Capital IPRWA | high: 8.213 % mean: 3.192 % median: 2.551 % TITN: -0.194 % low: -0.489 % |
|