Recent News
June 11, 2026: Shareholder meetings approved routine matters but the redomestication-to-Texas proposal failed to reach the 75% threshold; management announced an updated plan to pursue redomestication to Delaware. July 16, 2026: Board declared a $0.275 per-share cash dividend payable September 3, 2026 (record date August 6). July 21, 2026: Weatherford reported second-quarter 2026 results, including $1,105M revenue, $39M net income, $139M adjusted free cash flow, and announced the acquisition of NCS Multistage; management reiterated a second-half margin ramp while adjusting full-year outlook.
Technical Analysis
ADX at 18.29 indicates no strong underlying trend in place; trend strength remains weak even as directional signals shift. This tempers expectations for an extended, one-way move and favors range-bound activity with directional bias emerging from other indicators.
DI+ at 25.91 (increasing) and DI– at 19.12 (peak-and-reversal) together present a bullish directional picture: DI+ gaining while DI– rolls over implies buyers currently exerting control, supporting the near-term positive price bias relative to the current valuation.
MACD at 1.72, rising and above its 1.18 signal line, shows bullish momentum continuation; the MACD configuration supports further upside while it remains above the signal line, aligning with the directional indicators’ tilt.
MRO at 36.81 (positive) indicates price sits materially above WMDST’s target today, implying a risk of mean reversion that could cap rallies; treat upward moves as technically vulnerable to pullback toward valuation-based anchors.
RSI at 50.74 with an upward slope signals mid-range momentum with an upward tilt; the indicator leaves room for further gains before reaching overbought conditions, consistent with a measured bullish pathway rather than an overheated advance.
Price relationships favor the bulls: price close $96.43 sits above the 12-day EMA ($93.65), the 20-day average ($92.59) and the 50-day average ($87.38), while Ichimoku Tenkan and Kijun (92.81 / 90.78) lie below price—technical structure supports a continuation of the recent up-leg but with nearby resistance around the upper Bollinger band (~$96.2–$99.8) and support near the super-trend lower at $89.10.
Fundamental Analysis
Margins & earnings: EBIT of $102M yields an EBIT margin of 9.23%, down QoQ by 19.44% and down YoY by 50.82%. Gross margin stands at 30.14% with slight QoQ improvement (+2.11%) but negative YoY drift (–3.24%). EPS came in at $0.61 versus an estimate of $0.90, an EPS surprise of –32.22% (difference –$0.29), signaling short-term profit-pressure despite cash flow strength.
Cash flow and liquidity: Operating cash flow totaled $175M and free cash flow $133M, producing a free cash flow yield of 2.01% (free cash flow yield QoQ up 65.57%). Cash and short-term investments total $1.10B and the current ratio equals 2.34, reflecting meaningful near-term liquidity to fund operations, dividends and M&A activity announced.
Leverage and returns: Total debt $1.622B with net debt $316M; debt-to-EBITDA sits at ~9.38x, a material leverage metric that warrants monitoring despite interest coverage of 3.78. Debt-to-equity at 0.91x and debt-to-assets of 31.79% indicate leverage below some peer means but still elevated relative to cash-generation needs. Return on equity equals 2.18% with QoQ and YoY declines, reflecting compressed profitability versus capital base.
Valuation multiples: P/B at 3.71 sits above the industry peer median (≈3.41) but below the industry peer mean (≈4.74). P/E at ~151.45x exceeds the industry peer mean (~71.10x), while free cash flow yield at 2.01% stands above the industry peer mean (~1.07%), supporting a valuation disconnect between earnings-based multiples and cash-flow-based metrics. Enterprise multiple near 41.36 roughly aligns with the industry peer average range.
Operational trends: Total revenue $1,105M with reported revenue growth YoY –5.43% and revenue growth QoQ –61.61% (provided metric); asset turnover 0.217 below the industry peer mean (~0.148), and cash conversion cycle of ~115 days sits above the industry peer mean (~63.57 days), suggesting working-capital intensity that management has improved modestly QoQ.
WMDST valuation view: The current valuation as determined by WMDST classifies the stock as under-valued, driven by above-mean free cash flow yield, a strong cash cushion ($1.10B), and ongoing shareholder return actions, partially offset by compressed margins, an EPS shortfall, and elevated debt-to-EBITDA.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-21 |
| NEXT REPORT DATE: | 2026-10-20 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ 175.0 M | |
| Capital Expenditures | $ -42.00 M | |
| Change In Working Capital | $ 48.0 M | |
| Dividends Paid | $ -20.00 M | |
| Cash Flow Delta | $ 87.0 M | |
| End Period Cash Flow | $ 1.1 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.1 B | |
| Forward Revenue | $ 897.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 772.0 M | |
| Depreciation | $ 71.0 M | |
| Depreciation and Amortization | $ 71.0 M | |
| Research and Development | $ 20.0 M | |
| Total Operating Expenses | $ 989.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 333.0 M | |
| EBITDA | $ 173.0 M | |
| EBIT | $ 102.0 M | |
| Operating Income | $ 116.0 M | |
| Interest Income | $ 11.0 M | |
| Interest Expense | $ 27.0 M | |
| Net Interest Income | $ -16.00 M | |
| Income Before Tax | $ 75.0 M | |
| Tax Provision | $ 33.0 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ 39.0 M | |
| Net Income From Continuing Operations | $ 42.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.90 | |
| EPS Actual | $ 0.61 | |
| EPS Difference | $ -0.29 | |
| EPS Surprise | -32.222 % | |
| Forward EPS | $ 1.76 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 5.1 B | |
| Intangible Assets | $ 265.0 M | |
| Net Tangible Assets | $ 1.5 B | |
| Total Current Assets | $ 3.3 B | |
| Cash and Short-Term Investments | $ 1.1 B | |
| Cash | $ 1.1 B | |
| Net Receivables | $ 1.1 B | |
| Inventory | $ 811.0 M | |
| Long-Term Investments | $ 290.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 625.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 1.4 B | |
| Net Debt | $ 316.0 M | |
| Total Debt | $ 1.6 B | |
| Total Liabilities | $ 3.3 B | |
| EQUITY | ||
| Total Equity | $ 1.8 B | |
| Retained Earnings | $ -1.02 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 24.90 | |
| Shares Outstanding | 71.800 M | |
| Revenue Per-Share | $ 15.39 | |
| VALUATION | Market Capitalization | $ 6.6 B |
| Enterprise Value | $ 7.2 B | |
| Enterprise Multiple | 41.361 | |
| Enterprise Multiple QoQ | 13.081 % | |
| Enterprise Multiple YoY | 149.508 % | |
| Enterprise Multiple IPRWA | high: 107.267 median: 44.843 mean: 43.173 WFRD: 41.361 low: -39.564 |
|
| EV/R | 6.475 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.853 | |
| Asset To Liability | 1.54 | |
| Debt To Capital | 0.476 | |
| Debt To Assets | 0.318 | |
| Debt To Assets QoQ | -0.824 % | |
| Debt To Assets YoY | -6.448 % | |
| Debt To Assets IPRWA | high: 0.865 mean: 0.343 WFRD: 0.318 median: 0.309 low: 0.0 |
|
| Debt To Equity | 0.907 | |
| Debt To Equity QoQ | -2.16 % | |
| Debt To Equity YoY | -21.59 % | |
| Debt To Equity IPRWA | high: 4.75 mean: 1.174 WFRD: 0.907 median: 0.745 low: 0.0 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.71 | |
| Price To Book QoQ | -3.667 % | |
| Price To Book YoY | 39.936 % | |
| Price To Book IPRWA | high: 11.468 mean: 4.737 WFRD: 3.71 median: 3.413 low: -0.296 |
|
| Price To Earnings (P/E) | 151.454 | |
| Price To Earnings QoQ | 139.654 % | |
| Price To Earnings YoY | 238.156 % | |
| Price To Earnings IPRWA | high: 302.331 WFRD: 151.454 median: 80.738 mean: 71.097 low: -202.033 |
|
| PE/G Ratio | -2.564 | |
| Price To Sales (P/S) | 6.003 | |
| Price To Sales QoQ | 2.144 % | |
| Price To Sales YoY | 80.544 % | |
| Price To Sales IPRWA | high: 25.655 mean: 11.094 median: 9.409 WFRD: 6.003 low: 0.524 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 53.657 | |
| Forward PE/G | -0.909 | |
| Forward P/S | 7.12 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.571 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.217 | |
| Asset Turnover Ratio QoQ | -3.186 % | |
| Asset Turnover Ratio YoY | -8.15 % | |
| Asset Turnover Ratio IPRWA | high: 0.57 WFRD: 0.217 mean: 0.148 median: 0.145 low: 0.03 |
|
| Receivables Turnover | 0.974 | |
| Receivables Turnover Ratio QoQ | 1.414 % | |
| Receivables Turnover Ratio YoY | -4.907 % | |
| Receivables Turnover Ratio IPRWA | high: 3.739 mean: 1.826 median: 1.399 WFRD: 0.974 low: 0.585 |
|
| Inventory Turnover | 0.944 | |
| Inventory Turnover Ratio QoQ | -3.472 % | |
| Inventory Turnover Ratio YoY | 0.813 % | |
| Inventory Turnover Ratio IPRWA | high: 14.393 mean: 2.71 median: 1.616 WFRD: 0.944 low: 0.4 |
|
| Days Sales Outstanding (DSO) | 93.727 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 115.079 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | 4.812 % | |
| Cash Conversion Cycle Days IPRWA | high: 289.787 WFRD: 115.079 median: 69.058 mean: 63.569 low: -88.914 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.584 | |
| CapEx To Revenue | -0.038 | |
| CapEx To Depreciation | -0.592 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 3.2 B | |
| Net Invested Capital | $ 3.2 B | |
| Invested Capital | $ 3.2 B | |
| Net Tangible Assets | $ 1.5 B | |
| Net Working Capital | $ 1.9 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.782 | |
| Current Ratio | 2.344 | |
| Current Ratio QoQ | 1.489 % | |
| Current Ratio YoY | 5.86 % | |
| Current Ratio IPRWA | high: 6.932 WFRD: 2.344 median: 2.018 mean: 2.013 low: 0.162 |
|
| Quick Ratio | 1.768 | |
| Quick Ratio QoQ | 2.262 % | |
| Quick Ratio YoY | 8.569 % | |
| Quick Ratio IPRWA | high: 5.317 WFRD: 1.768 median: 1.499 mean: 1.448 low: 0.148 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 9.376 | |
| Cost Of Debt | 0.996 % | |
| Interest Coverage Ratio | 3.778 | |
| Interest Coverage Ratio QoQ | -22.727 % | |
| Interest Coverage Ratio YoY | -41.495 % | |
| Interest Coverage Ratio IPRWA | high: 25.702 mean: 8.738 median: 5.247 WFRD: 3.778 low: -1.804 |
|
| Operating Cash Flow Ratio | 0.128 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 70.516 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.95 | |
| Dividend Payout Ratio | 0.513 | |
| Dividend Rate | $ 0.28 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.334 % | |
| Revenue Growth | -4.08 % | |
| Revenue Growth QoQ | -61.611 % | |
| Revenue Growth YoY | -542.516 % | |
| Revenue Growth IPRWA | high: 41.85 % mean: 3.563 % median: 2.315 % WFRD: -4.08 % low: -24.034 % |
|
| Earnings Growth | -59.06 % | |
| Earnings Growth QoQ | 168.577 % | |
| Earnings Growth YoY | -606.953 % | |
| Earnings Growth IPRWA | high: 238.462 % median: 10.345 % mean: 0.043 % WFRD: -59.06 % low: -129.508 % |
|
| MARGINS | ||
| Gross Margin | 30.136 % | |
| Gross Margin QoQ | 2.107 % | |
| Gross Margin YoY | -3.243 % | |
| Gross Margin IPRWA | high: 86.321 % mean: 37.062 % median: 33.191 % WFRD: 30.136 % low: -5.561 % |
|
| EBIT Margin | 9.231 % | |
| EBIT Margin QoQ | -19.436 % | |
| EBIT Margin YoY | -50.823 % | |
| EBIT Margin IPRWA | high: 78.229 % mean: 26.945 % median: 19.752 % WFRD: 9.231 % low: -54.293 % |
|
| Return On Sales (ROS) | 10.498 % | |
| Return On Sales QoQ | -11.079 % | |
| Return On Sales YoY | -28.991 % | |
| Return On Sales IPRWA | high: 74.843 % mean: 26.369 % median: 16.652 % WFRD: 10.498 % low: -28.155 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 133.0 M | |
| Free Cash Flow Yield | 2.005 % | |
| Free Cash Flow Yield QoQ | 65.566 % | |
| Free Cash Flow Yield YoY | 8.496 % | |
| Free Cash Flow Yield IPRWA | high: 8.358 % WFRD: 2.005 % mean: 1.069 % median: 0.763 % low: -12.123 % |
|
| Free Cash Growth | 62.195 % | |
| Free Cash Growth QoQ | -199.973 % | |
| Free Cash Growth YoY | 349.191 % | |
| Free Cash Growth IPRWA | high: 627.16 % WFRD: 62.195 % mean: 55.837 % median: 0.393 % low: -604.506 % |
|
| Free Cash To Net Income | 3.41 | |
| Cash Flow Margin | 16.29 % | |
| Cash Flow To Earnings | 4.615 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.766 % | |
| Return On Assets QoQ | -63.541 % | |
| Return On Assets YoY | -71.289 % | |
| Return On Assets IPRWA | high: 7.329 % median: 2.337 % mean: 2.313 % WFRD: 0.766 % low: -3.517 % |
|
| Return On Capital Employed (ROCE) | 2.76 % | |
| Return On Equity (ROE) | 0.022 | |
| Return On Equity QoQ | -64.496 % | |
| Return On Equity YoY | -75.786 % | |
| Return On Equity IPRWA | high: 0.209 mean: 0.067 median: 0.034 WFRD: 0.022 low: -0.147 |
|
| DuPont ROE | 2.199 % | |
| Return On Invested Capital (ROIC) | 1.91 % | |
| Return On Invested Capital QoQ | -23.478 % | |
| Return On Invested Capital YoY | -66.201 % | |
| Return On Invested Capital IPRWA | high: 11.567 % mean: 3.139 % median: 2.91 % WFRD: 1.91 % low: -3.654 % |
|