Recent News
On May 21, 2026 the company announced the retirement of Chief Financial Officer William M. Clancy, effective December 31, 2026. On May 28, 2026 the company confirmed participation at investor conferences in June 2026 (Noble Growth Conference and East Coast IDEAS Conference), signaling active investor outreach.
Technical Analysis
Directional indicators and trend strength: ADX at 28.53 indicates a strong trend environment. DI+ sits at 18.67 and shows a decreasing pattern, which denotes diminishing upside pressure; DI– at 27.37 shows a peak-and-reversal pattern, indicating downside pressure recently faded. Together these directional reads suggest a contested directional bias rather than a clean trend breakout, which aligns with an over-valued attribution and a higher probability of mean reversion toward fair-value anchors.
MACD and momentum: MACD registers -3.13 with a dip-and-reversal pattern, which signals bullish momentum emerging from a prior trough. The MACD remains below its signal line (-1.33), so the bullish momentum lacks a confirmed crossover; the current state implies improving momentum but not a confirmed trend change that would justify sustained upside relative to the current valuation.
MRO and target gap: MRO reads 3.09 (positive), which indicates the price sits above WMDST’s internal target and therefore creates potential downward pressure. The MRO value remains modest, signaling limited immediate force for a large move, but the positive reading aligns with short-term reversion risk given the valuation status.
RSI and short-term price action: RSI at 52.01 with a dip-and-reversal pattern places the oscillator near neutral-to-mildly bullish territory; momentum attempts to recover from a short pullback but lacks strong overbought or oversold extremes, supporting a consolidation outlook rather than directional conviction.
Price vs moving averages and volatility context: Last close $110.54 sits slightly above the 20-day average ($109.28) but below the 50-day average ($120.05) and well above the 200-day average ($62.36). The 12-day EMA at $111.09 trends decreasing. Bollinger bands place the 1σ lower band at $103.08 and 1σ upper band at $115.49; price currently lives in the lower half of the 20-day band. Beta remains elevated (42-day beta 4.27, 52-week beta 2.81), implying outsized sensitivity to market moves and supporting expectations of volatile, range-driven swings rather than steady directional trends. Average short-term volume lags the 10-day average (current volume 325,819 vs 10-day avg 378,196), which suggests limited conviction behind the latest move and increases the likelihood that outsized intraday swings will dictate the near-term path.
Fundamental Analysis
Revenue and top-line dynamics: Total revenue registers at $84,353,000. Quarter-over-quarter revenue growth reads 3.43%, while year-over-year revenue growth stands at -4.74%; the picture shows modest sequential improvement but a contraction relative to the prior-year period. QoQ improvement supports the argument for operational stabilization, but YoY decline underscores demand challenges in some end markets.
Profitability and margins: Operating margin equals 0.94% and EBIT margin equals 0.20%. Operating margin declined QoQ by -0.53 percentage points and declined YoY by -1.91 percentage points. Industry peer mean operating margin measures roughly 15.68% (industry peer median 15.42%); EBIT margin sits well below the industry peer mean (15.29%, median 14.99%). The margin shortfall versus the industry peer mean and median places direct pressure on valuation, given limited current profitability despite positive gross margin (38.97%).
Cash flow, liquidity, and leverage: Cash and short-term investments total $82,486,000 and the current ratio equals 4.47 with a quick ratio of 2.97, both above the industry peer mean current ratio of approximately 2.48 and peer quick ratio mean of ~1.90. Free cash flow for the period shows a negative $3,656,000 and free-cash-flow-yield equals -0.54%. Total debt rounds to $44,387,000, debt-to-assets stands near 9.78%, and debt-to-equity at 13.26%—light leverage that supports balance-sheet resilience despite negative net income (-$319,000) and modest operating cash flow (-$596,000).
Valuation multiples and WMDST view: Reported trailing PE runs at ~733x while forward PE sits near 95.7x; price-to-sales equals 8.09x and price-to-book equals 2.04x (industry peer mean price-to-book ≈ 8.40x; peer mean price-to-sales ≈ 21.94x). WMDST values the stock as over-valued relative to intrinsic measures and the profile of compressed operating profitability; elevated trailing multiples and negative free cash flow reinforce that valuation classification even as balance-sheet liquidity remains strong.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-12 |
| NEXT REPORT DATE: | 2026-08-11 |
| CASH FLOW | Begin Period Cash Flow | $ 87.4 M |
| Operating Cash Flow | $ -596.00 K | |
| Capital Expenditures | $ -3.06 M | |
| Change In Working Capital | $ -5.40 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -4.88 M | |
| End Period Cash Flow | $ 82.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 84.4 M | |
| Forward Revenue | $ -397.88 M | |
| COSTS | ||
| Cost Of Revenue | $ 51.5 M | |
| Depreciation | $ 3.2 M | |
| Depreciation and Amortization | $ 4.2 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 83.6 M | |
| PROFITABILITY | ||
| Gross Profit | $ 32.9 M | |
| EBITDA | $ 4.4 M | |
| EBIT | $ 171.0 K | |
| Operating Income | $ 789.0 K | |
| Interest Income | $ 230.0 K | |
| Interest Expense | $ 329.0 K | |
| Net Interest Income | $ -99.00 K | |
| Income Before Tax | $ -158.00 K | |
| Tax Provision | $ 129.0 K | |
| Tax Rate | 40.0 % | |
| Net Income | $ -319.00 K | |
| Net Income From Continuing Operations | $ -287.00 K | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | $ 0.07 | |
| EPS Difference | $ 0.00 | |
| EPS Surprise | — | |
| Forward EPS | $ 0.45 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 453.8 M | |
| Intangible Assets | $ 84.4 M | |
| Net Tangible Assets | $ 250.3 M | |
| Total Current Assets | $ 246.1 M | |
| Cash and Short-Term Investments | $ 82.5 M | |
| Cash | $ 82.5 M | |
| Net Receivables | $ 61.4 M | |
| Inventory | $ 82.9 M | |
| Long-Term Investments | $ 25.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 11.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 55.0 M | |
| Net Debt | — | |
| Total Debt | $ 44.4 M | |
| Total Liabilities | $ 119.4 M | |
| EQUITY | ||
| Total Equity | $ 334.7 M | |
| Retained Earnings | $ 197.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 25.16 | |
| Shares Outstanding | 13.301 M | |
| Revenue Per-Share | $ 6.34 | |
| VALUATION | Market Capitalization | $ 682.7 M |
| Enterprise Value | $ 644.6 M | |
| Enterprise Multiple | 147.132 | |
| Enterprise Multiple QoQ | 6.489 % | |
| Enterprise Multiple YoY | 77.628 % | |
| Enterprise Multiple IPRWA | high: 364.265 VPG: 147.132 mean: 95.305 median: 85.823 low: -215.509 |
|
| EV/R | 7.642 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.356 | |
| Asset To Liability | 3.802 | |
| Debt To Capital | 0.117 | |
| Debt To Assets | 0.098 | |
| Debt To Assets QoQ | 0.246 % | |
| Debt To Assets YoY | -18.899 % | |
| Debt To Assets IPRWA | high: 0.98 mean: 0.274 median: 0.264 VPG: 0.098 low: 0.001 |
|
| Debt To Equity | 0.133 | |
| Debt To Equity QoQ | 0.287 % | |
| Debt To Equity YoY | -21.253 % | |
| Debt To Equity IPRWA | high: 2.759 mean: 0.711 median: 0.616 VPG: 0.133 low: -0.773 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.04 | |
| Price To Book QoQ | 22.289 % | |
| Price To Book YoY | 119.235 % | |
| Price To Book IPRWA | high: 17.798 median: 9.112 mean: 8.403 VPG: 2.04 low: -2.416 |
|
| Price To Earnings (P/E) | 733.225 | |
| Price To Earnings QoQ | -342.975 % | |
| Price To Earnings YoY | 28.604 % | |
| Price To Earnings IPRWA | VPG: 733.225 high: 398.734 mean: 134.726 median: 131.744 low: -220.021 |
|
| PE/G Ratio | -4.888 | |
| Price To Sales (P/S) | 8.093 | |
| Price To Sales QoQ | 16.233 % | |
| Price To Sales YoY | 92.038 % | |
| Price To Sales IPRWA | high: 99.122 median: 22.531 mean: 21.938 VPG: 8.093 low: 0.0 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 95.748 | |
| Forward PE/G | -0.638 | |
| Forward P/S | -1.716 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -33.746 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.185 | |
| Asset Turnover Ratio QoQ | 5.67 % | |
| Asset Turnover Ratio YoY | 16.944 % | |
| Asset Turnover Ratio IPRWA | high: 0.534 VPG: 0.185 median: 0.185 mean: 0.185 low: 0.001 |
|
| Receivables Turnover | 1.433 | |
| Receivables Turnover Ratio QoQ | 3.086 % | |
| Receivables Turnover Ratio YoY | 1.283 % | |
| Receivables Turnover Ratio IPRWA | high: 2.612 mean: 1.452 median: 1.439 VPG: 1.433 low: 0.528 |
|
| Inventory Turnover | 0.621 | |
| Inventory Turnover Ratio QoQ | 3.002 % | |
| Inventory Turnover Ratio YoY | 16.834 % | |
| Inventory Turnover Ratio IPRWA | high: 2.973 mean: 1.026 median: 1.009 VPG: 0.621 low: 0.128 |
|
| Days Sales Outstanding (DSO) | 63.696 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 192.28 | |
| Cash Conversion Cycle Days QoQ | -7.112 % | |
| Cash Conversion Cycle Days YoY | -10.741 % | |
| Cash Conversion Cycle Days IPRWA | high: 308.893 VPG: 192.28 mean: 100.383 median: 91.076 low: -44.852 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.441 | |
| CapEx To Revenue | -0.036 | |
| CapEx To Depreciation | -0.949 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 355.3 M | |
| Net Invested Capital | $ 355.3 M | |
| Invested Capital | $ 355.3 M | |
| Net Tangible Assets | $ 250.3 M | |
| Net Working Capital | $ 191.1 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.499 | |
| Current Ratio | 4.474 | |
| Current Ratio QoQ | 0.136 % | |
| Current Ratio YoY | -0.848 % | |
| Current Ratio IPRWA | high: 14.867 VPG: 4.474 mean: 2.481 median: 1.714 low: 0.37 |
|
| Quick Ratio | 2.967 | |
| Quick Ratio QoQ | -0.082 % | |
| Quick Ratio YoY | 0.802 % | |
| Quick Ratio IPRWA | high: 13.913 VPG: 2.967 mean: 1.904 median: 1.259 low: 0.247 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 10.132 | |
| Cost Of Debt | 0.444 % | |
| Interest Coverage Ratio | 0.52 | |
| Interest Coverage Ratio QoQ | -173.085 % | |
| Interest Coverage Ratio YoY | -138.788 % | |
| Interest Coverage Ratio IPRWA | high: 69.571 mean: 9.142 median: 7.828 VPG: 0.52 low: -197.838 |
|
| Operating Cash Flow Ratio | -0.001 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 19.935 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.449 % | |
| Revenue Growth | 4.693 % | |
| Revenue Growth QoQ | 343.154 % | |
| Revenue Growth YoY | -473.944 % | |
| Revenue Growth IPRWA | high: 25.82 % median: 7.12 % mean: 6.582 % VPG: 4.693 % low: -56.837 % |
|
| Earnings Growth | -150.0 % | |
| Earnings Growth QoQ | -2.5 % | |
| Earnings Growth YoY | -550.005 % | |
| Earnings Growth IPRWA | high: 58.333 % median: 9.278 % mean: 2.112 % VPG: -150.0 % low: -186.111 % |
|
| MARGINS | ||
| Gross Margin | 38.972 % | |
| Gross Margin QoQ | 5.848 % | |
| Gross Margin YoY | 3.379 % | |
| Gross Margin IPRWA | high: 99.349 % VPG: 38.972 % mean: 37.959 % median: 36.783 % low: -36.179 % |
|
| EBIT Margin | 0.203 % | |
| EBIT Margin QoQ | -155.769 % | |
| EBIT Margin YoY | -119.766 % | |
| EBIT Margin IPRWA | high: 48.781 % mean: 15.293 % median: 14.986 % VPG: 0.203 % low: -233.527 % |
|
| Return On Sales (ROS) | 0.935 % | |
| Return On Sales QoQ | -52.802 % | |
| Return On Sales YoY | -191.042 % | |
| Return On Sales IPRWA | high: 40.821 % mean: 15.679 % median: 15.42 % VPG: 0.935 % low: -176.472 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -3.66 M | |
| Free Cash Flow Yield | -0.536 % | |
| Free Cash Flow Yield QoQ | -322.407 % | |
| Free Cash Flow Yield YoY | -143.296 % | |
| Free Cash Flow Yield IPRWA | high: 5.592 % median: 0.346 % mean: 0.253 % VPG: -0.536 % low: -18.584 % |
|
| Free Cash Growth | -370.815 % | |
| Free Cash Growth QoQ | 166.524 % | |
| Free Cash Growth YoY | 1930.639 % | |
| Free Cash Growth IPRWA | high: 300.72 % mean: -9.914 % median: -43.487 % VPG: -370.815 % low: -399.154 % |
|
| Free Cash To Net Income | 11.461 | |
| Cash Flow Margin | -0.069 % | |
| Cash Flow To Earnings | 0.182 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -0.07 % | |
| Return On Assets QoQ | -82.843 % | |
| Return On Assets YoY | -66.346 % | |
| Return On Assets IPRWA | high: 12.143 % median: 2.381 % mean: 1.959 % VPG: -0.07 % low: -20.105 % |
|
| Return On Capital Employed (ROCE) | 0.043 % | |
| Return On Equity (ROE) | -0.001 | |
| Return On Equity QoQ | -82.914 % | |
| Return On Equity YoY | -67.241 % | |
| Return On Equity IPRWA | high: 0.162 mean: 0.046 median: 0.045 VPG: -0.001 low: -0.303 |
|
| DuPont ROE | -0.095 % | |
| Return On Invested Capital (ROIC) | 0.029 % | |
| Return On Invested Capital QoQ | -144.615 % | |
| Return On Invested Capital YoY | -118.954 % | |
| Return On Invested Capital IPRWA | high: 7.857 % mean: 2.715 % median: 2.694 % VPG: 0.029 % low: -10.75 % |
|