Recent News
On July 1, the company filed an 8‑K disclosing amendments to the employment agreements for the CEO and CFO, effective June 1. On August 3, the board declared regular quarterly cash dividends of $0.06 per Class A share and $0.07 per Class B share. On August 11, the company announced launches of the SWI6D and SMI6D 5 W–6 W external power supplies added to its CUI portfolio.
Technical Analysis
ADX at 13.56 signals no established trend; directional indicators show bearish directional pressure as DI+ has peak‑and‑reversed and DI‑ has dip‑and‑reversed, implying sellers currently outweigh buyers despite the absence of a strong trend.
MACD sits below zero at ‑$1.21 with a peak‑and‑reversal trend, indicating bearish momentum; note MACD currently sits above its signal line (‑$2.20), which registers as a short‑term bullish cross but conflicts with the broader momentum deterioration.
MRO at ‑2.08 places the price modestly below the model target, suggesting limited upside potential for mean reversion rather than a strong reversal move.
RSI at 46.56 with a peak‑and‑reversal pattern confirms waning short‑term momentum and supports the near‑term downside bias implied by other oscillators.
Price sits at $220.42, below the 20‑day average ($232.18) and 50‑day average ($241.00) while remaining above the 200‑day average ($201.92). Short EMAs show a recent peak‑and‑reversal and the 12‑day EMA sits below the 26‑day EMA, reinforcing short‑term weakness even as the 200‑day average offers a longer‑term support reference.
Bollinger positioning places the close marginally below the 1× lower band ($220.75), indicating a slight short‑term oversold condition that could attract mean‑reversion attempts; however, volume on the move remains below recent averages, reducing conviction for sustained directional follow‑through. Elevated short‑term beta (42‑day 2.59) signals higher volatility risk for swing positions.
Fundamental Analysis
Top‑line and margin profile: Total revenue totaled $210,685,000 with quarterly revenue growth of 11.43% and year‑over‑year revenue growth of 70.97%, reflecting strong demand expansion. Gross margin stands at 39.85% and operating margin at 18.36%; EBIT margin registers 18.78%, above the industry peer mean of 14.73% and above the industry peer median of 16.49%, signaling superior margin capture relative to peers.
Profitability and earnings: EPS came in at $2.76 versus an estimate of $2.29, a positive surprise of 20.52%. Reported EBIT $39,562,000 and EBITDA $46,473,000 show operating profitability; earnings growth year‑over‑year measures 157.98% while earnings growth quarter‑over‑quarter declined, reflecting period timing differences.
Balance sheet and liquidity: Cash and short‑term investments total $306,106,000, supporting a strong current ratio of 4.48 and quick ratio of 3.20, both above the industry peer means of 2.45 and 1.89 respectively. Total debt remains low at $34,262,000, with debt‑to‑assets about 2.71%, well below the industry peer mean of 21.07% and indicating minimal leverage risk.
Working capital and cash conversion: Cash conversion cycle near 156 days exceeds the industry peer mean of 105 days, and inventory turnover of 0.66 trails the peer mean of 0.92, highlighting slower operating cash conversion that could pressure working capital if growth accelerates further.
Valuation context: Trailing P/E reads 85.79 while forward P/E approximates 120.03; price‑to‑book sits at 3.76 versus the industry peer mean of 9.82, and the enterprise multiple of 67.72 sits below the industry peer mean of 112.28. Free cash flow yield equals roughly 0.46%, modest relative to the peer mean of 0.58%. WMDST values the stock as fair‑valued given the combination of strong margins and cash balances offset by stretched working capital and elevated short‑term multiples.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-29 |
| NEXT REPORT DATE: | 2026-10-28 |
| CASH FLOW | Begin Period Cash Flow | $ 59.4 M |
| Operating Cash Flow | $ 17.9 M | |
| Capital Expenditures | $ -2.25 M | |
| Change In Working Capital | $ -25.78 M | |
| Dividends Paid | $ -844.00 K | |
| Cash Flow Delta | $ 246.7 M | |
| End Period Cash Flow | $ 306.1 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 210.7 M | |
| Forward Revenue | $ 59.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 126.7 M | |
| Depreciation | $ 6.9 M | |
| Depreciation and Amortization | $ 6.9 M | |
| Research and Development | $ 9.0 M | |
| Total Operating Expenses | $ 172.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 84.0 M | |
| EBITDA | $ 46.5 M | |
| EBIT | $ 39.6 M | |
| Operating Income | $ 38.7 M | |
| Interest Income | $ 1.3 M | |
| Interest Expense | $ 1.8 M | |
| Net Interest Income | $ -522.00 K | |
| Income Before Tax | $ 37.8 M | |
| Tax Provision | $ 3.8 M | |
| Tax Rate | 10.024 % | |
| Net Income | $ 25.5 M | |
| Net Income From Continuing Operations | $ 34.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 2.29 | |
| EPS Actual | $ 2.76 | |
| EPS Difference | $ 0.47 | |
| EPS Surprise | 20.524 % | |
| Forward EPS | $ 2.00 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.3 B | |
| Intangible Assets | $ 435.8 M | |
| Net Tangible Assets | $ 473.6 M | |
| Total Current Assets | $ 698.7 M | |
| Cash and Short-Term Investments | $ 306.1 M | |
| Cash | $ 306.1 M | |
| Net Receivables | $ 155.9 M | |
| Inventory | $ 200.2 M | |
| Long-Term Investments | $ 34.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 87.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 155.9 M | |
| Net Debt | — | |
| Total Debt | $ 34.3 M | |
| Total Liabilities | $ 252.2 M | |
| EQUITY | ||
| Total Equity | $ 909.4 M | |
| Retained Earnings | $ 438.2 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 62.98 | |
| Shares Outstanding | 14.439 M | |
| Revenue Per-Share | $ 14.59 | |
| VALUATION | Market Capitalization | $ 3.4 B |
| Enterprise Value | $ 3.1 B | |
| Enterprise Multiple | 67.719 | |
| Enterprise Multiple QoQ | -33.613 % | |
| Enterprise Multiple YoY | 101.412 % | |
| Enterprise Multiple IPRWA | high: 302.042 mean: 112.278 median: 110.654 BELFA: 67.719 low: -146.873 |
|
| EV/R | 14.938 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.39 | |
| Asset To Liability | 5.012 | |
| Debt To Capital | 0.036 | |
| Debt To Assets | 0.027 | |
| Debt To Assets QoQ | -88.593 % | |
| Debt To Assets YoY | -90.745 % | |
| Debt To Assets IPRWA | high: 0.705 median: 0.235 mean: 0.211 BELFA: 0.027 low: 0.006 |
|
| Debt To Equity | 0.038 | |
| Debt To Equity QoQ | -92.686 % | |
| Debt To Equity YoY | -94.521 % | |
| Debt To Equity IPRWA | high: 2.204 median: 0.57 mean: 0.529 BELFA: 0.038 low: -0.8 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.76 | |
| Price To Book QoQ | -36.084 % | |
| Price To Book YoY | 19.807 % | |
| Price To Book IPRWA | high: 17.779 median: 12.106 mean: 9.819 BELFA: 3.76 low: -2.382 |
|
| Price To Earnings (P/E) | 85.79 | |
| Price To Earnings QoQ | -27.29 % | |
| Price To Earnings YoY | 67.353 % | |
| Price To Earnings IPRWA | high: 454.629 mean: 167.296 median: 112.447 BELFA: 85.79 low: -148.034 |
|
| PE/G Ratio | 1.419 | |
| Price To Sales (P/S) | 16.228 | |
| Price To Sales QoQ | 12.183 % | |
| Price To Sales YoY | 115.026 % | |
| Price To Sales IPRWA | high: 91.147 median: 33.752 mean: 27.784 BELFA: 16.228 low: 0.798 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 120.03 | |
| Forward PE/G | 1.985 | |
| Forward P/S | 57.2 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.249 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.19 | |
| Asset Turnover Ratio QoQ | 0.513 % | |
| Asset Turnover Ratio YoY | 6.82 % | |
| Asset Turnover Ratio IPRWA | high: 0.547 mean: 0.201 BELFA: 0.19 median: 0.143 low: 0.003 |
|
| Receivables Turnover | 1.527 | |
| Receivables Turnover Ratio QoQ | 3.323 % | |
| Receivables Turnover Ratio YoY | 2.03 % | |
| Receivables Turnover Ratio IPRWA | high: 2.33 median: 1.607 mean: 1.605 BELFA: 1.527 low: 0.626 |
|
| Inventory Turnover | 0.664 | |
| Inventory Turnover Ratio QoQ | 6.314 % | |
| Inventory Turnover Ratio YoY | 6.034 % | |
| Inventory Turnover Ratio IPRWA | high: 2.694 mean: 0.921 median: 0.858 BELFA: 0.664 low: 0.165 |
|
| Days Sales Outstanding (DSO) | 59.752 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 156.071 | |
| Cash Conversion Cycle Days QoQ | -2.987 % | |
| Cash Conversion Cycle Days YoY | -9.855 % | |
| Cash Conversion Cycle Days IPRWA | high: 389.683 BELFA: 156.071 mean: 105.355 median: 93.299 low: -166.342 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.388 | |
| CapEx To Revenue | -0.011 | |
| CapEx To Depreciation | -0.325 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 909.4 M | |
| Net Invested Capital | $ 909.4 M | |
| Invested Capital | $ 909.4 M | |
| Net Tangible Assets | $ 473.6 M | |
| Net Working Capital | $ 542.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.963 | |
| Current Ratio | 4.481 | |
| Current Ratio QoQ | 40.761 % | |
| Current Ratio YoY | 46.864 % | |
| Current Ratio IPRWA | high: 13.249 BELFA: 4.481 mean: 2.452 median: 1.813 low: 0.516 |
|
| Quick Ratio | 3.197 | |
| Quick Ratio QoQ | 84.718 % | |
| Quick Ratio YoY | 85.407 % | |
| Quick Ratio IPRWA | high: 12.292 BELFA: 3.197 mean: 1.885 median: 1.244 low: 0.332 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.737 | |
| Cost Of Debt | 0.952 % | |
| Interest Coverage Ratio | 21.954 | |
| Interest Coverage Ratio QoQ | 173.324 % | |
| Interest Coverage Ratio YoY | 132.581 % | |
| Interest Coverage Ratio IPRWA | high: 109.8 BELFA: 21.954 mean: 11.863 median: 7.904 low: -65.527 |
|
| Operating Cash Flow Ratio | 0.008 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 63.509 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 30.19 | |
| Dividend Payout Ratio | 0.033 | |
| Dividend Rate | $ 0.06 | |
| Dividend Yield | 0.0 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 32.803 % | |
| Revenue Growth | 18.037 % | |
| Revenue Growth QoQ | 1143.074 % | |
| Revenue Growth YoY | 70.967 % | |
| Revenue Growth IPRWA | high: 57.54 % BELFA: 18.037 % mean: 9.86 % median: 8.711 % low: -22.909 % |
|
| Earnings Growth | 60.465 % | |
| Earnings Growth QoQ | -111.867 % | |
| Earnings Growth YoY | 157.978 % | |
| Earnings Growth IPRWA | high: 200.0 % BELFA: 60.465 % mean: 8.797 % median: 7.527 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 39.854 % | |
| Gross Margin QoQ | 2.211 % | |
| Gross Margin YoY | 3.059 % | |
| Gross Margin IPRWA | high: 86.78 % BELFA: 39.854 % mean: 39.129 % median: 36.138 % low: -8.541 % |
|
| EBIT Margin | 18.778 % | |
| EBIT Margin QoQ | 64.936 % | |
| EBIT Margin YoY | -16.155 % | |
| EBIT Margin IPRWA | high: 29.361 % BELFA: 18.778 % median: 16.493 % mean: 14.726 % low: -101.864 % |
|
| Return On Sales (ROS) | 18.357 % | |
| Return On Sales QoQ | 34.503 % | |
| Return On Sales YoY | 18.532 % | |
| Return On Sales IPRWA | high: 29.361 % BELFA: 18.357 % median: 15.494 % mean: 14.006 % low: -101.864 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 15.7 M | |
| Free Cash Flow Yield | 0.459 % | |
| Free Cash Flow Yield QoQ | 6.005 % | |
| Free Cash Flow Yield YoY | -65.28 % | |
| Free Cash Flow Yield IPRWA | high: 2.95 % median: 0.852 % mean: 0.579 % BELFA: 0.459 % low: -7.33 % |
|
| Free Cash Growth | 40.25 % | |
| Free Cash Growth QoQ | -170.345 % | |
| Free Cash Growth YoY | -81.139 % | |
| Free Cash Growth IPRWA | high: 230.113 % BELFA: 40.25 % median: 15.971 % mean: -30.163 % low: -359.143 % |
|
| Free Cash To Net Income | 0.616 | |
| Cash Flow Margin | 0.569 % | |
| Cash Flow To Earnings | 0.047 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 2.3 % | |
| Return On Assets QoQ | 90.713 % | |
| Return On Assets YoY | -19.043 % | |
| Return On Assets IPRWA | high: 5.859 % BELFA: 2.3 % mean: 2.044 % median: 1.741 % low: -15.317 % |
|
| Return On Capital Employed (ROCE) | 3.57 % | |
| Return On Equity (ROE) | 0.028 | |
| Return On Equity QoQ | 8.102 % | |
| Return On Equity YoY | -57.782 % | |
| Return On Equity IPRWA | high: 0.149 mean: 0.05 median: 0.045 BELFA: 0.028 low: -0.189 |
|
| DuPont ROE | 3.78 % | |
| Return On Invested Capital (ROIC) | 3.914 % | |
| Return On Invested Capital QoQ | 47.143 % | |
| Return On Invested Capital YoY | -14.054 % | |
| Return On Invested Capital IPRWA | high: 4.276 % BELFA: 3.914 % median: 3.323 % mean: 2.886 % low: -4.912 % |
|