Recent News
August 14, 2026 — Cable One announced the appointment of Heather McCallion as Chief Operating Officer, with an expected start date of August 24, 2026. In late July/August the company disclosed preliminary second-quarter results in the context of contemplated financing activity and a related term loan exchange process.
Technical Analysis
Directional strength shows an emerging trend: ADX at 21.51 indicates trend formation rather than a strong directional move; both DI readings point toward downside momentum as DInegative shows a dip-and-reversal (bearish) and DIpositive shows a peak-and-reversal (bearish).
MACD sits negative at -4.08 with the MACD line declining and below the signal line (-2.85), which signals bearish momentum and decreasing upside momentum in near-term price action.
MRO reads -0.37, indicating price sits slightly below the model target and therefore implies modest upward potential from current levels; the oscillator’s peak-and-reversal on the short-term axis weakens conviction on that potential.
RSI at 39.2 and trending down signals persistent selling pressure without reaching oversold extremes; this aligns with price trading under short- and long-term averages (price close $22.82 versus 20-day average $34.07, 50-day $40.41, and 200-day $81.97), so moving-average structure favors continued downside bias until momentum indicators stabilize.
Price versus EMAs and bands: the 12-day EMA (price 12-day EMA $31.11) and 26-day EMA ($35.57) both exceed the close and trend lower, placing the market below immediate dynamic resistance; Bollinger band bounds (1x lower $26.23, 1x upper $41.91) show the close below the lower 1x band, consistent with elevated short-term volatility and mean-reversion potential.
Volume registered at 351,962, above the 10-day average (272,405) and the 50/200-day averages, indicating recent moves attract heavier participation and lending weight to the current directional signal.
Fundamental Analysis
Profitability: operating income registers positive at $80,771,000 and operating margin equals 23.15%, which contrasts sharply with reported EBIT of -$956,507,000 and an EBIT margin of -274.13%; the EBIT margin sits well below the industry peer mean of 14.81% and the industry peer median of 14.69% (industry peer range low -28.14% to high 26.49%). The divergence between operating margin and reported EBIT requires attention when reconciling non‑operating items and one‑time effects to operating performance.
Earnings and guidance context: reported EPS came in at $2.75 versus an estimate of $8.00, an EPS surprise of -65.63% (EPS difference -$5.25), indicating a materially lower per‑share result than forecasted and reducing near-term earnings visibility.
Cash flow and valuation signals: free cash flow equals $42,331,000 with a free-cash-flow yield of 14.56%, which exceeds the industry peer mean free-cash-flow yield (0.944% as provided), positioning the company as relatively favorable on cash generation per market cap. WMDST values the stock as under-valued based on the current free-cash-flow profile versus market capitalization.
Balance sheet and leverage: net debt stands at $2,878,994,000 while market capitalization equals $290,739,805, producing a highly levered capital structure and net tangible assets that are negative (-$1,861,597,000). Debt-to-assets equals 66.04% and debt-to-equity at 935.35% (both sizable); compare the debt-to-assets to the industry peer mean of 36.55% which highlights the company’s heavier leverage relative to peers. Interest expense remains modest at $33,737,000 with an interest coverage ratio deeply negative (-28.35), reflecting the current loss profile and non-operating charges affecting coverage metrics.
Revenue and growth: total revenue $348,926,000 with YoY revenue growth of -10.21% and QoQ revenue decline of -61.47% (as provided), indicating meaningful top-line contraction on a year-over-year basis. Asset turnover sits at 0.06874 (vs. industry peer mean 0.07817), showing lower capital efficiency compared with peer averages.
Liquidity: current ratio stands at 0.4752 (below the industry peer mean of 2.14613), and the cash ratio reads 0.27844, reflecting constrained short-term liquidity relative to operating liabilities and underlining the relevance of recent financing activity noted in public filings.
Valuation summary: trailing P/E equals 18.64x while forward P/E sits near 9.31x; price-to-book equals 0.89x versus an industry peer mean of 1.54x, placing the company below peer valuation on a P/B basis. The enterprise value to revenue and enterprise multiple metrics show distortions from sizable net debt; the enterprise multiple reads -3.63 in the provided dataset. Taken together, free-cash-flow yield and forward earnings multiples produce a valuation picture that WMDST determines to be under-valued, though leverage and recent earnings shortfall weigh materially on sustainable valuation prospects.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 165.6 M |
| Operating Cash Flow | $ 120.9 M | |
| Capital Expenditures | $ -78.53 M | |
| Change In Working Capital | $ 7.3 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 590.0 K | |
| End Period Cash Flow | $ 166.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 348.9 M | |
| Forward Revenue | $ -1.54 M | |
| COSTS | ||
| Cost Of Revenue | $ 98.7 M | |
| Depreciation | $ 81.8 M | |
| Depreciation and Amortization | $ 81.8 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 268.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 250.2 M | |
| EBITDA | $ -874.73 M | |
| EBIT | $ -956.51 M | |
| Operating Income | $ 80.8 M | |
| Interest Income | — | |
| Interest Expense | $ 33.7 M | |
| Net Interest Income | $ -33.74 M | |
| Income Before Tax | $ -990.24 M | |
| Tax Provision | $ -109.52 M | |
| Tax Rate | 11.06 % | |
| Net Income | $ -1.16 B | |
| Net Income From Continuing Operations | $ -1.16 B | |
| EARNINGS | ||
| EPS Estimate | $ 8.00 | |
| EPS Actual | $ 2.75 | |
| EPS Difference | $ -5.25 | |
| EPS Surprise | -65.625 % | |
| Forward EPS | $ 3.63 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 4.6 B | |
| Intangible Assets | $ 2.2 B | |
| Net Tangible Assets | $ -1.86 B | |
| Total Current Assets | $ 283.6 M | |
| Cash and Short-Term Investments | $ 166.2 M | |
| Cash | $ 166.2 M | |
| Net Receivables | $ 52.7 M | |
| Inventory | — | |
| Long-Term Investments | $ 17.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 25.6 M | |
| Short-Term Debt | $ 18.1 M | |
| Total Current Liabilities | $ 596.9 M | |
| Net Debt | $ 2.9 B | |
| Total Debt | $ 3.1 B | |
| Total Liabilities | $ 4.3 B | |
| EQUITY | ||
| Total Equity | $ 326.4 M | |
| Retained Earnings | $ 205.8 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 57.53 | |
| Shares Outstanding | 5.673 M | |
| Revenue Per-Share | $ 61.50 | |
| VALUATION | Market Capitalization | $ 290.7 M |
| Enterprise Value | $ 3.2 B | |
| Enterprise Multiple | -3.632 | |
| Enterprise Multiple QoQ | -119.765 % | |
| Enterprise Multiple YoY | -64.171 % | |
| Enterprise Multiple IPRWA | high: 57.419 mean: 23.727 median: 22.562 CABO: -3.632 low: -25.092 |
|
| EV/R | 9.106 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 14.164 | |
| Asset To Liability | 1.076 | |
| Debt To Capital | 0.903 | |
| Debt To Assets | 0.66 | |
| Debt To Assets QoQ | 17.292 % | |
| Debt To Assets YoY | 9.421 % | |
| Debt To Assets IPRWA | high: 0.834 CABO: 0.66 median: 0.372 mean: 0.366 low: 0.188 |
|
| Debt To Equity | 9.354 | |
| Debt To Equity QoQ | 344.277 % | |
| Debt To Equity YoY | 258.997 % | |
| Debt To Equity IPRWA | CABO: 9.354 high: 5.705 mean: 0.929 median: 0.862 low: -8.176 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.891 | |
| Price To Book QoQ | 126.336 % | |
| Price To Book YoY | 36.704 % | |
| Price To Book IPRWA | high: 2.107 median: 1.892 mean: 1.543 CABO: 0.891 low: -0.936 |
|
| Price To Earnings (P/E) | 18.635 | |
| Price To Earnings QoQ | 11.148 % | |
| Price To Earnings YoY | -9.152 % | |
| Price To Earnings IPRWA | high: 108.202 CABO: 18.635 mean: 4.764 median: -2.948 low: -34.239 |
|
| PE/G Ratio | -0.311 | |
| Price To Sales (P/S) | 0.833 | |
| Price To Sales QoQ | -49.469 % | |
| Price To Sales YoY | -63.564 % | |
| Price To Sales IPRWA | high: 15.818 median: 5.816 mean: 5.474 CABO: 0.833 low: 0.265 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 9.309 | |
| Forward PE/G | -0.156 | |
| Forward P/S | -188.215 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 851.962 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.069 | |
| Asset Turnover Ratio QoQ | 8.269 % | |
| Asset Turnover Ratio YoY | 10.002 % | |
| Asset Turnover Ratio IPRWA | high: 0.271 mean: 0.078 CABO: 0.069 low: 0.062 median: 0.062 |
|
| Receivables Turnover | 7.031 | |
| Receivables Turnover Ratio QoQ | -8.103 % | |
| Receivables Turnover Ratio YoY | -22.303 % | |
| Receivables Turnover Ratio IPRWA | CABO: 7.031 high: 3.778 median: 2.62 mean: 2.463 low: 0.931 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 12.979 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 129.867 CABO: 0 mean: -89.928 low: -110.02 median: -110.02 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -1.114 | |
| CapEx To Revenue | -0.225 | |
| CapEx To Depreciation | -0.96 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 3.4 B | |
| Net Invested Capital | $ 3.4 B | |
| Invested Capital | $ 3.4 B | |
| Net Tangible Assets | $ -1.86 B | |
| Net Working Capital | $ -313.23 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.278 | |
| Current Ratio | 0.475 | |
| Current Ratio QoQ | -72.911 % | |
| Current Ratio YoY | 28.467 % | |
| Current Ratio IPRWA | high: 3.169 median: 2.399 mean: 2.146 CABO: 0.475 low: 0.361 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -3.49 | |
| Cost Of Debt | 0.724 % | |
| Interest Coverage Ratio | -28.352 | |
| Interest Coverage Ratio QoQ | -883.257 % | |
| Interest Coverage Ratio YoY | 91.987 % | |
| Interest Coverage Ratio IPRWA | high: 98.333 mean: 4.613 median: 1.179 low: -21.33 CABO: -28.352 |
|
| Operating Cash Flow Ratio | -1.837 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 28.525 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -16.399 % | |
| Revenue Growth | -1.142 % | |
| Revenue Growth QoQ | -61.471 % | |
| Revenue Growth YoY | -1020.968 % | |
| Revenue Growth IPRWA | high: 17.166 % CABO: -1.142 % mean: -1.166 % median: -1.541 % low: -5.121 % |
|
| Earnings Growth | -59.854 % | |
| Earnings Growth QoQ | 45.241 % | |
| Earnings Growth YoY | 55.251 % | |
| Earnings Growth IPRWA | high: 66.667 % CABO: -59.854 % mean: -114.378 % median: -148.718 % low: -450.0 % |
|
| MARGINS | ||
| Gross Margin | 71.706 % | |
| Gross Margin QoQ | -2.308 % | |
| Gross Margin YoY | -1.961 % | |
| Gross Margin IPRWA | high: 97.999 % CABO: 71.706 % mean: 42.515 % median: 38.751 % low: 37.208 % |
|
| EBIT Margin | -274.129 % | |
| EBIT Margin QoQ | -983.091 % | |
| EBIT Margin YoY | 108.636 % | |
| EBIT Margin IPRWA | high: 26.486 % mean: 14.812 % median: 14.692 % low: -28.139 % CABO: -274.129 % |
|
| Return On Sales (ROS) | 23.148 % | |
| Return On Sales QoQ | -8.6 % | |
| Return On Sales YoY | -12.318 % | |
| Return On Sales IPRWA | high: 25.736 % CABO: 23.148 % mean: 12.52 % median: 11.698 % low: 2.893 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 42.3 M | |
| Free Cash Flow Yield | 14.56 % | |
| Free Cash Flow Yield QoQ | 68.285 % | |
| Free Cash Flow Yield YoY | 79.576 % | |
| Free Cash Flow Yield IPRWA | CABO: 14.56 % high: 10.274 % mean: 0.944 % median: 0.241 % low: -10.464 % |
|
| Free Cash Growth | -15.938 % | |
| Free Cash Growth QoQ | -42.153 % | |
| Free Cash Growth YoY | -135.683 % | |
| Free Cash Growth IPRWA | high: 125.919 % median: 11.603 % mean: -5.579 % CABO: -15.938 % low: -298.003 % |
|
| Free Cash To Net Income | -0.036 | |
| Cash Flow Margin | -314.245 % | |
| Cash Flow To Earnings | 0.942 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.01 | |
| Return On Assets (ROA) | -22.942 % | |
| Return On Assets QoQ | -3662.422 % | |
| Return On Assets YoY | 219.437 % | |
| Return On Assets IPRWA | high: 3.197 % mean: 0.157 % median: -0.215 % low: -1.258 % CABO: -22.942 % |
|
| Return On Capital Employed (ROCE) | -23.759 % | |
| Return On Equity (ROE) | -3.568 | |
| Return On Equity QoQ | -14850.351 % | |
| Return On Equity YoY | 989.566 % | |
| Return On Equity IPRWA | high: 0.076 mean: 0.004 median: -0.005 low: -0.434 CABO: -3.568 |
|
| DuPont ROE | -129.031 % | |
| Return On Invested Capital (ROIC) | -25.232 % | |
| Return On Invested Capital QoQ | -1498.67 % | |
| Return On Invested Capital YoY | 211.045 % | |
| Return On Invested Capital IPRWA | high: 9.834 % mean: 1.051 % median: 0.69 % low: -7.189 % CABO: -25.232 % |
|