Recent News
On June 8, 2026 the company held its Annual Meeting of Stockholders, during which directors were elected and Ernst & Young LLP was ratified as auditor. On August 7, 2026 the Board declared a quarterly dividend of $5.05 per share payable September 24, 2026 with a record date of September 10, 2026. Multiple Form 4 filings in June and July 2026 documented routine insider transactions.
Technical Analysis
Directional indicators: ADX at 17.58 indicates no trend; DI+ shows a peak-and-reversal and DI- shows a dip-and-reversal, both signaling a short-term shift toward bearish directional pressure that weakens conviction for an immediate trend.
MACD: MACD reads 2.42 and trends decreasing while below its signal line (2.54), which signals weakening bullish momentum and favors consolidation or pullback in the near term.
MRO: MRO sits at 31.88 with a peak-and-reversal pattern; the positive MRO indicates price currently sits above model target levels and therefore carries a propensity to correct toward intrinsic levels.
RSI: RSI at 58.82 with a peak-and-reversal denotes faded upward momentum after recent strength, leaving room for sideways to modestly lower price action absent a momentum refresh.
Price vs moving averages: The close at $98.81 trades above the 20-day ($97.15), 50-day ($90.61) and 200-day ($69.41) averages, with the 12-day EMA increasing; that placement establishes technical support from short- and long-term averages even while momentum indicators cool.
Ichimoku and Bollinger context: Price sits above the Ichimoku cloud (Senkou A 83.77 / Senkou B 81.51), signaling institutional/structural support; the close lies below the 1x upper Bollinger band ($100.88), suggesting limited immediate upside expansion within current volatility.
Volume and volatility: Daily volume near 463,500 remains below the 10/50/200-day averages and 42-day volatility remains low, consistent with a low-trend, rangebound environment where directional signals require confirmation before trending resumes.
Fundamental Analysis
Earnings and cash returns: Reported EPS of $5.91 exceeded the $5.27 estimate by $0.64, a 12.14% EPS surprise; the company recorded its second-quarter results and accompanying disclosures in early August 2026. The Board simultaneously declared a $5.05 quarterly dividend payable in September 2026.
Profitability and margins: EBIT totaled $295,577,000 and EBITDA $336,144,000; EBIT margin sits at 90.81%, well above the industry peer mean of 16.66% and near the provided industry peer high of 91.39%, reflecting exceptional margin conversion on reported revenues for the period.
Revenue and growth: Total revenue reached $325,476,000. Reported revenue growth reads 21.50% (presented) while quarter-over-quarter revenue change shows contraction; reported year-over-year growth metrics require careful reading of published figures, but operating leverage remains evident given the margin profile.
Liquidity and leverage: Cash stands at $141,847,000 with cash and short-term investments totaling $376,847,000; the current ratio equals 7.34 and the quick ratio 7.28, both above the industry peer high, indicating exceptional near-term liquidity. Net debt totals $460,241,000 with debt-to-EBITDA at 1.82 and interest coverage at 31.33, demonstrating conservative leverage relative to operating cash generation.
Cash flow and capital allocation: Operating cash flow reached $141,061,000 and free cash flow $70,087,000 with a cash-flow-to-earnings multiple slightly above parity; dividend payout metrics show a payout ratio of 37.20% and dividend coverage around 2.69, supporting the company’s stated practice of returning a material portion of adjusted net income to shareholders.
Valuation: WMDST values the stock as under-valued. Market multiples include a trailing PE of 18.60 and an enterprise multiple near 11.38; the P/B ratio at 1.64 sits below the industry peer mean of 2.13. Free cash flow yield registers roughly 1.95%, above the industry peer mean provided, supporting the stated valuation view when combined with an unusually strong balance sheet and outsized recent cash returns.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-08-10 |
| NEXT REPORT DATE: | 2026-11-09 |
| CASH FLOW | Begin Period Cash Flow | $ 116.9 M |
| Operating Cash Flow | $ 141.1 M | |
| Capital Expenditures | $ -70.97 M | |
| Change In Working Capital | $ -82.00 M | |
| Dividends Paid | $ -106.44 M | |
| Cash Flow Delta | $ 24.9 M | |
| End Period Cash Flow | $ 141.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 325.5 M | |
| Forward Revenue | $ 22.2 M | |
| COSTS | ||
| Cost Of Revenue | $ 117.5 M | |
| Depreciation | $ 40.6 M | |
| Depreciation and Amortization | $ 40.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 125.1 M | |
| PROFITABILITY | ||
| Gross Profit | $ 207.9 M | |
| EBITDA | $ 336.1 M | |
| EBIT | $ 295.6 M | |
| Operating Income | $ 200.4 M | |
| Interest Income | $ 475.0 K | |
| Interest Expense | $ 9.4 M | |
| Net Interest Income | $ -8.96 M | |
| Income Before Tax | $ 286.1 M | |
| Tax Provision | — | |
| Tax Rate | 40.0 % | |
| Net Income | $ 286.1 M | |
| Net Income From Continuing Operations | $ 286.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 5.27 | |
| EPS Actual | $ 5.91 | |
| EPS Difference | $ 0.64 | |
| EPS Surprise | 12.144 % | |
| Forward EPS | $ 1.57 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.9 B | |
| Intangible Assets | $ 7.4 M | |
| Net Tangible Assets | $ 2.2 B | |
| Total Current Assets | $ 666.5 M | |
| Cash and Short-Term Investments | $ 376.8 M | |
| Cash | $ 141.8 M | |
| Net Receivables | $ 30.1 M | |
| Inventory | $ 5.4 M | |
| Long-Term Investments | $ 14.1 M | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 28.2 M | |
| Total Current Liabilities | $ 90.8 M | |
| Net Debt | $ 460.2 M | |
| Total Debt | $ 610.1 M | |
| Total Liabilities | $ 677.1 M | |
| EQUITY | ||
| Total Equity | $ 2.2 B | |
| Retained Earnings | $ 703.5 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 44.32 | |
| Shares Outstanding | 49.505 M | |
| Revenue Per-Share | $ 6.57 | |
| VALUATION | Market Capitalization | $ 3.6 B |
| Enterprise Value | $ 3.8 B | |
| Enterprise Multiple | 11.378 | |
| Enterprise Multiple QoQ | -37.443 % | |
| Enterprise Multiple YoY | -47.028 % | |
| Enterprise Multiple IPRWA | high: 104.904 median: 40.509 mean: 35.923 INSW: 11.378 low: -85.14 |
|
| EV/R | 11.751 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.309 | |
| Asset To Liability | 4.241 | |
| Debt To Capital | 0.218 | |
| Debt To Assets | 0.212 | |
| Debt To Assets QoQ | -1.589 % | |
| Debt To Assets YoY | -11.998 % | |
| Debt To Assets IPRWA | high: 0.622 mean: 0.214 INSW: 0.212 median: 0.199 low: 0.006 |
|
| Debt To Equity | 0.278 | |
| Debt To Equity QoQ | -2.514 % | |
| Debt To Equity YoY | -15.353 % | |
| Debt To Equity IPRWA | high: 2.445 mean: 0.685 median: 0.436 INSW: 0.278 low: 0.008 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.637 | |
| Price To Book QoQ | 17.054 % | |
| Price To Book YoY | 80.445 % | |
| Price To Book IPRWA | high: 5.391 median: 2.225 mean: 2.135 INSW: 1.637 low: -1.668 |
|
| Price To Earnings (P/E) | 18.602 | |
| Price To Earnings QoQ | -20.295 % | |
| Price To Earnings YoY | -56.686 % | |
| Price To Earnings IPRWA | high: 202.32 mean: 64.98 median: 36.225 INSW: 18.602 low: -49.343 |
|
| PE/G Ratio | 0.314 | |
| Price To Sales (P/S) | 11.034 | |
| Price To Sales QoQ | 4.637 % | |
| Price To Sales YoY | 19.379 % | |
| Price To Sales IPRWA | high: 32.045 INSW: 11.034 mean: 7.469 median: 7.465 low: 0.049 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 43.185 | |
| Forward PE/G | 0.73 | |
| Forward P/S | 171.057 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.424 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.117 | |
| Asset Turnover Ratio QoQ | 19.703 % | |
| Asset Turnover Ratio YoY | 65.914 % | |
| Asset Turnover Ratio IPRWA | high: 0.453 median: 0.18 mean: 0.166 INSW: 0.117 low: 0.001 |
|
| Receivables Turnover | 16.954 | |
| Receivables Turnover Ratio QoQ | -44.121 % | |
| Receivables Turnover Ratio YoY | -52.515 % | |
| Receivables Turnover Ratio IPRWA | INSW: 16.954 high: 5.198 mean: 2.25 median: 1.729 low: 0.065 |
|
| Inventory Turnover | 39.06 | |
| Inventory Turnover Ratio QoQ | -81.059 % | |
| Inventory Turnover Ratio YoY | -60.465 % | |
| Inventory Turnover Ratio IPRWA | INSW: 39.06 high: 17.806 mean: 2.936 median: 2.702 low: 0.115 |
|
| Days Sales Outstanding (DSO) | 5.382 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 7.624 | |
| Cash Conversion Cycle Days QoQ | 119.913 % | |
| Cash Conversion Cycle Days YoY | 121.303 % | |
| Cash Conversion Cycle Days IPRWA | high: 141.82 median: 9.147 INSW: 7.624 mean: 0.393 low: -191.36 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.565 | |
| CapEx To Revenue | -0.218 | |
| CapEx To Depreciation | -1.75 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.8 B | |
| Net Invested Capital | $ 2.8 B | |
| Invested Capital | $ 2.8 B | |
| Net Tangible Assets | $ 2.2 B | |
| Net Working Capital | $ 575.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 4.151 | |
| Current Ratio | 7.341 | |
| Current Ratio QoQ | 97.785 % | |
| Current Ratio YoY | 166.21 % | |
| Current Ratio IPRWA | INSW: 7.341 high: 6.171 mean: 1.161 median: 1.132 low: 0.401 |
|
| Quick Ratio | 7.281 | |
| Quick Ratio QoQ | 96.508 % | |
| Quick Ratio YoY | 164.515 % | |
| Quick Ratio IPRWA | INSW: 7.281 high: 2.754 mean: 0.86 median: 0.855 low: 0.358 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 1.815 | |
| Cost Of Debt | 0.954 % | |
| Interest Coverage Ratio | 31.331 | |
| Interest Coverage Ratio QoQ | 114.915 % | |
| Interest Coverage Ratio YoY | 512.657 % | |
| Interest Coverage Ratio IPRWA | INSW: 31.331 high: 24.617 mean: 11.102 median: 7.268 low: -51.648 |
|
| Operating Cash Flow Ratio | 3.305 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.688 | |
| Dividend Payout Ratio | 0.372 | |
| Dividend Rate | $ 2.15 | |
| Dividend Yield | 0.03 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 7.596 % | |
| Revenue Growth | 21.501 % | |
| Revenue Growth QoQ | -40.936 % | |
| Revenue Growth YoY | -472.958 % | |
| Revenue Growth IPRWA | high: 74.257 % INSW: 21.501 % median: 7.819 % mean: 7.433 % low: -53.835 % |
|
| Earnings Growth | 59.184 % | |
| Earnings Growth QoQ | -47.645 % | |
| Earnings Growth YoY | -632.661 % | |
| Earnings Growth IPRWA | high: 300.0 % median: 69.444 % INSW: 59.184 % mean: 49.554 % low: -279.592 % |
|
| MARGINS | ||
| Gross Margin | 63.889 % | |
| Gross Margin QoQ | 17.718 % | |
| Gross Margin YoY | 87.578 % | |
| Gross Margin IPRWA | high: 80.204 % INSW: 63.889 % mean: 26.661 % median: 24.168 % low: -31.917 % |
|
| EBIT Margin | 90.814 % | |
| EBIT Margin QoQ | 78.283 % | |
| EBIT Margin YoY | 170.312 % | |
| EBIT Margin IPRWA | high: 91.389 % INSW: 90.814 % mean: 16.662 % median: 15.498 % low: -140.178 % |
|
| Return On Sales (ROS) | 61.57 % | |
| Return On Sales QoQ | 24.631 % | |
| Return On Sales YoY | 83.266 % | |
| Return On Sales IPRWA | high: 91.389 % INSW: 61.57 % mean: 15.689 % median: 14.874 % low: -40.585 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 70.1 M | |
| Free Cash Flow Yield | 1.951 % | |
| Free Cash Flow Yield QoQ | -916.318 % | |
| Free Cash Flow Yield YoY | -346.65 % | |
| Free Cash Flow Yield IPRWA | high: 11.076 % INSW: 1.951 % mean: 0.861 % median: 0.36 % low: -13.55 % |
|
| Free Cash Growth | -1138.788 % | |
| Free Cash Growth QoQ | 3916.464 % | |
| Free Cash Growth YoY | 650.57 % | |
| Free Cash Growth IPRWA | high: 379.182 % median: -57.258 % mean: -76.152 % low: -590.685 % INSW: -1138.788 % |
|
| Free Cash To Net Income | 0.245 | |
| Cash Flow Margin | 92.195 % | |
| Cash Flow To Earnings | 1.049 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 10.33 % | |
| Return On Assets QoQ | 121.104 % | |
| Return On Assets YoY | 439.707 % | |
| Return On Assets IPRWA | INSW: 10.33 % high: 6.63 % mean: 1.325 % median: 1.324 % low: -16.545 % |
|
| Return On Capital Employed (ROCE) | 10.63 % | |
| Return On Equity (ROE) | 0.13 | |
| Return On Equity QoQ | 106.623 % | |
| Return On Equity YoY | 391.704 % | |
| Return On Equity IPRWA | INSW: 0.13 high: 0.109 mean: 0.038 median: 0.033 low: -0.293 |
|
| DuPont ROE | 13.579 % | |
| Return On Invested Capital (ROIC) | 6.342 % | |
| Return On Invested Capital QoQ | 52.232 % | |
| Return On Invested Capital YoY | 220.951 % | |
| Return On Invested Capital IPRWA | high: 8.567 % INSW: 6.342 % median: 3.05 % mean: 2.864 % low: -18.473 % |
|