Technical Analysis
ADX at 17.88 indicates no established trend; directional indicators deliver competing signals: DI+ at 24.63 and increasing signals buy-side pressure, while DI- at 28.54 (dip & reversal) signals returning downside pressure. Together, directional strength fails to signal a dominant trend, which limits conviction for sustained moves and ties directly to the valuation headwind.
MACD sits at -0.30 with the MACD line above the signal line (-0.39); that crossover constitutes a bullish momentum trigger despite MACD remaining negative. Momentum gains require volume confirmation given the broader technical context.
MRO at -29.43 (dip & reversal) indicates price below the model target and therefore short-term upside potential; the magnitude suggests a meaningful gap toward target levels unless offset by weakening momentum.
RSI at 50.83 with a peak & reversal trend signals recent exhaustion of upside and raises the risk of pullback if momentum indicators fail to extend their gains. RSI behavior connects directly to near-term range control around moving averages and Bollinger bands.
Price sits at $42.10, above the 200-day average ($41.57) and roughly in line with the 12-day EMA ($42.13) while remaining below the 50-day average ($43.70). Bollinger band placement (1x upper ~ $42.66, lower ~ $41.07) places current price inside the upper half of the band but below immediate supertrend resistance at $43.90, implying limited upside before encountering technical resistance. Average volumes (10/50/200-day averages exceed current 552k shares) fail to support a high-confidence breakout, constraining the near-term outlook.
Fundamental Analysis
Earnings and operating metrics show operational resilience alongside cash-flow stress. EBIT of $151.0M produces an EBIT margin of 9.19%, effectively in line with the industry peer mean of 9.19%; QoQ margin improved ~14.29% while YoY margin declined ~15.55%. EPS topped estimates modestly at $0.98 versus $0.96, a 2.08% surprise. The company filed quarterly results covering the period ended June 30, 2026, and discussed the quarter in its July 29 release.
Revenue growth measures show modest expansion: trailing revenue growth registers 5.25% while year-over-year revenue growth equals 6.27%; both figures trail the industry peer mean revenue growth (~10.89%), indicating slower top-line momentum relative to peers. Asset turnover at 0.174 remains below the industry peer mean (~0.195), reflecting lower sales generation per dollar of assets and linking directly to the middling returns profile.
Returns and profitability sit below stronger peers. Return on equity equals 3.18% (QoQ improvement present but YoY decline), versus an industry peer mean near 3.46%; return on invested capital at 1.51% falls short of the industry peer mean. Operating margin equals 10.30%, modestly above the peer low but near the peer mean level.
Cash flow and leverage create the primary valuation constraint. Free cash flow stands negative at -$258.5M with a free cash flow yield of -5.69%, materially below the industry peer mean of roughly 2.98%. Operating cash flow registered -$194.3M while net debt reached $4.48B against a market cap of $4.55B, producing a debt-to-EBITDA multiple around 20.6x and an interest coverage near 3.21x—well below the industry peer mean coverage. Those debt and cash-flow characteristics underpin WMDST’s current valuation view.
Market multiples display divergence: trailing P/E near 43.9 sits below the industry peer mean (~51.68), while enterprise multiple (~38.45) roughly aligns with the industry peer mean (~38.85). The analyst price-target mean (~$39.06) lies below the current $42.10 market price, producing an implied mismatch between market level and consensus targets that corresponds with WMDST’s assessment that the stock appears over-valued.
Dividend metrics remain intact but modest relative to cash-flow stress: dividend payout ratio ~29.3% and yield about 0.49%, consistent with the company’s maintained distribution policy noted in filings.
Valuation summary: WMDST values the stock as over-valued. The over-valuation assessment rests on negative free cash flow, elevated leverage (net debt roughly equal to market cap and debt-to-EBITDA ~20.6x), and analyst targets that sit below the current market price despite some operational margin recovery.
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 | $ 435.4 M |
| Operating Cash Flow | $ -194.28 M | |
| Capital Expenditures | $ -64.24 M | |
| Change In Working Capital | $ -379.81 M | |
| Dividends Paid | $ -22.22 M | |
| Cash Flow Delta | $ -83.90 M | |
| End Period Cash Flow | $ 351.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.6 B | |
| Forward Revenue | $ 586.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.3 B | |
| Depreciation | $ 83.7 M | |
| Depreciation and Amortization | $ 83.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 294.9 M | |
| EBITDA | $ 234.8 M | |
| EBIT | $ 151.0 M | |
| Operating Income | $ 169.2 M | |
| Interest Income | — | |
| Interest Expense | $ 47.1 M | |
| Net Interest Income | $ -47.12 M | |
| Income Before Tax | $ 103.9 M | |
| Tax Provision | $ 29.2 M | |
| Tax Rate | 28.05 % | |
| Net Income | $ 75.8 M | |
| Net Income From Continuing Operations | $ 75.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.96 | |
| EPS Actual | $ 0.98 | |
| EPS Difference | $ 0.02 | |
| EPS Surprise | 2.083 % | |
| Forward EPS | $ 1.02 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 9.6 B | |
| Intangible Assets | $ 3.3 B | |
| Net Tangible Assets | $ -938.29 M | |
| Total Current Assets | $ 3.3 B | |
| Cash and Short-Term Investments | $ 351.5 M | |
| Cash | $ 351.5 M | |
| Net Receivables | $ 1.5 B | |
| Inventory | $ 1.2 B | |
| Long-Term Investments | $ 654.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 891.8 M | |
| Short-Term Debt | $ 1.2 B | |
| Total Current Liabilities | $ 2.6 B | |
| Net Debt | $ 4.5 B | |
| Total Debt | $ 4.8 B | |
| Total Liabilities | $ 7.2 B | |
| EQUITY | ||
| Total Equity | $ 2.4 B | |
| Retained Earnings | $ 3.7 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 22.51 | |
| Shares Outstanding | 105.680 M | |
| Revenue Per-Share | $ 15.55 | |
| VALUATION | Market Capitalization | $ 4.5 B |
| Enterprise Value | $ 9.0 B | |
| Enterprise Multiple | 38.452 | |
| Enterprise Multiple QoQ | -6.234 % | |
| Enterprise Multiple YoY | -7.321 % | |
| Enterprise Multiple IPRWA | high: 43.734 median: 43.734 mean: 38.855 SLGN: 38.452 low: 30.074 |
|
| EV/R | 5.494 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.035 | |
| Asset To Liability | 1.329 | |
| Debt To Capital | 0.67 | |
| Debt To Assets | 0.503 | |
| Debt To Assets QoQ | 0.71 % | |
| Debt To Assets YoY | -6.218 % | |
| Debt To Assets IPRWA | SLGN: 0.503 high: 0.429 median: 0.359 mean: 0.351 low: 0.216 |
|
| Debt To Equity | 2.032 | |
| Debt To Equity QoQ | 1.157 % | |
| Debt To Equity YoY | -10.641 % | |
| Debt To Equity IPRWA | SLGN: 2.032 high: 1.316 median: 1.257 mean: 1.135 low: 0.411 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.911 | |
| Price To Book QoQ | 0.592 % | |
| Price To Book YoY | -20.909 % | |
| Price To Book IPRWA | high: 2.802 median: 2.802 mean: 2.292 SLGN: 1.911 low: 1.339 |
|
| Price To Earnings (P/E) | 43.894 | |
| Price To Earnings QoQ | -17.909 % | |
| Price To Earnings YoY | -18.541 % | |
| Price To Earnings IPRWA | high: 87.499 median: 59.073 mean: 51.678 SLGN: 43.894 low: 34.732 |
|
| PE/G Ratio | 1.712 | |
| Price To Sales (P/S) | 2.766 | |
| Price To Sales QoQ | -2.008 % | |
| Price To Sales YoY | -20.681 % | |
| Price To Sales IPRWA | high: 4.028 median: 4.028 mean: 3.674 SLGN: 2.766 low: 2.75 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 39.604 | |
| Forward PE/G | 1.545 | |
| Forward P/S | 7.765 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.861 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.174 | |
| Asset Turnover Ratio QoQ | 4.118 % | |
| Asset Turnover Ratio YoY | 2.563 % | |
| Asset Turnover Ratio IPRWA | high: 0.206 median: 0.2 mean: 0.195 SLGN: 0.174 low: 0.171 |
|
| Receivables Turnover | 1.258 | |
| Receivables Turnover Ratio QoQ | -29.596 % | |
| Receivables Turnover Ratio YoY | -7.882 % | |
| Receivables Turnover Ratio IPRWA | high: 2.134 median: 2.134 mean: 2.018 low: 1.603 SLGN: 1.258 |
|
| Inventory Turnover | 1.142 | |
| Inventory Turnover Ratio QoQ | -2.615 % | |
| Inventory Turnover Ratio YoY | 6.569 % | |
| Inventory Turnover Ratio IPRWA | high: 2.482 mean: 1.528 median: 1.392 low: 1.208 SLGN: 1.142 |
|
| Days Sales Outstanding (DSO) | 72.559 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 95.523 | |
| Cash Conversion Cycle Days QoQ | 69.559 % | |
| Cash Conversion Cycle Days YoY | -2.621 % | |
| Cash Conversion Cycle Days IPRWA | SLGN: 95.523 high: 59.343 mean: 10.412 low: -13.11 median: -13.11 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.334 | |
| CapEx To Revenue | -0.039 | |
| CapEx To Depreciation | -0.767 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 6.0 B | |
| Net Invested Capital | $ 7.2 B | |
| Invested Capital | $ 7.2 B | |
| Net Tangible Assets | $ -938.29 M | |
| Net Working Capital | $ 704.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.136 | |
| Current Ratio | 1.272 | |
| Current Ratio QoQ | 1.077 % | |
| Current Ratio YoY | 32.497 % | |
| Current Ratio IPRWA | high: 1.289 SLGN: 1.272 mean: 1.089 median: 1.069 low: 0.995 |
|
| Quick Ratio | 0.796 | |
| Quick Ratio QoQ | 2.123 % | |
| Quick Ratio YoY | 42.568 % | |
| Quick Ratio IPRWA | high: 0.99 SLGN: 0.796 mean: 0.692 median: 0.665 low: 0.547 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 20.587 | |
| Cost Of Debt | 0.676 % | |
| Interest Coverage Ratio | 3.206 | |
| Interest Coverage Ratio QoQ | 5.767 % | |
| Interest Coverage Ratio YoY | -6.813 % | |
| Interest Coverage Ratio IPRWA | high: 13.974 mean: 5.94 median: 4.519 low: 4.129 SLGN: 3.206 |
|
| Operating Cash Flow Ratio | -0.064 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 60.181 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 3.409 | |
| Dividend Payout Ratio | 0.293 | |
| Dividend Rate | $ 0.21 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.986 % | |
| Revenue Growth | 5.253 % | |
| Revenue Growth QoQ | -16.738 % | |
| Revenue Growth YoY | 6.271 % | |
| Revenue Growth IPRWA | high: 12.469 % median: 10.935 % mean: 10.887 % low: 8.65 % SLGN: 5.253 % |
|
| Earnings Growth | 25.641 % | |
| Earnings Growth QoQ | 56.176 % | |
| Earnings Growth YoY | 10.66 % | |
| Earnings Growth IPRWA | high: 46.364 % SLGN: 25.641 % mean: 18.747 % low: 9.574 % median: 9.574 % |
|
| MARGINS | ||
| Gross Margin | 17.945 % | |
| Gross Margin QoQ | 5.416 % | |
| Gross Margin YoY | -7.652 % | |
| Gross Margin IPRWA | high: 23.387 % mean: 19.074 % SLGN: 17.945 % low: 17.438 % median: 17.438 % |
|
| EBIT Margin | 9.192 % | |
| EBIT Margin QoQ | 14.286 % | |
| EBIT Margin YoY | -15.554 % | |
| EBIT Margin IPRWA | high: 9.96 % SLGN: 9.192 % mean: 9.19 % low: 8.932 % median: 8.932 % |
|
| Return On Sales (ROS) | 10.297 % | |
| Return On Sales QoQ | 18.52 % | |
| Return On Sales YoY | -10.655 % | |
| Return On Sales IPRWA | high: 10.561 % SLGN: 10.297 % mean: 9.639 % low: 9.232 % median: 9.232 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -258.52 M | |
| Free Cash Flow Yield | -5.687 % | |
| Free Cash Flow Yield QoQ | -71.581 % | |
| Free Cash Flow Yield YoY | 3.758 % | |
| Free Cash Flow Yield IPRWA | high: 4.57 % mean: 2.976 % median: 2.901 % low: 1.222 % SLGN: -5.687 % |
|
| Free Cash Growth | -70.69 % | |
| Free Cash Growth QoQ | -58.936 % | |
| Free Cash Growth YoY | 14.745 % | |
| Free Cash Growth IPRWA | high: -17.893 % SLGN: -70.69 % mean: -129.936 % median: -149.787 % low: -155.102 % |
|
| Free Cash To Net Income | -3.412 | |
| Cash Flow Margin | -10.047 % | |
| Cash Flow To Earnings | -2.179 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 0.801 % | |
| Return On Assets QoQ | 18.843 % | |
| Return On Assets YoY | -18.182 % | |
| Return On Assets IPRWA | high: 1.377 % mean: 1.119 % median: 1.108 % low: 0.952 % SLGN: 0.801 % |
|
| Return On Capital Employed (ROCE) | 2.154 % | |
| Return On Equity (ROE) | 0.032 | |
| Return On Equity QoQ | 17.231 % | |
| Return On Equity YoY | -20.44 % | |
| Return On Equity IPRWA | high: 0.038 median: 0.038 mean: 0.035 SLGN: 0.032 low: 0.026 |
|
| DuPont ROE | 3.224 % | |
| Return On Invested Capital (ROIC) | 1.507 % | |
| Return On Invested Capital QoQ | 13.994 % | |
| Return On Invested Capital YoY | -12.026 % | |
| Return On Invested Capital IPRWA | high: 2.192 % median: 2.109 % mean: 2.036 % low: 1.688 % SLGN: 1.507 % |
|