Recent News
On June 17, 2026 the Board declared a quarterly cash dividend of $0.12 per share payable July 24, 2026 to holders of record on July 10, 2026. On July 14, 2026 the company announced scheduling details for its second-quarter 2026 results and conference call.
Technical Analysis
Directional indicators show a strong trend environment: ADX sits at 32.24, indicating trend strength rather than direction, while DI+ at 11.08 trending down and DI- at 26.76 trending up together signal dominant downside pressure versus recent valuation levels; that directional setup raises the likelihood of continued directional follow-through unless DI+ stabilizes.
MACD remains negative at -2.42 but the MACD trend registered a dip-and-reversal, signalling bullish momentum emerging from a decline; the oscillator has not yet crossed above the signal line (-2.09), so early momentum improvements merit confirmation before signaling a momentum shift relative to the current valuation.
MRO reads 3.94 and trends higher, indicating the market price sits modestly above the internal target and implying mild downward pressure on price; the magnitude suggests limited near-term mean reversion rather than a large corrective move away from the WMDST valuation.
RSI at 40.83 shows recovery from a dip and registers a dip-and-reversal pattern; the level remains below neutral 50, so momentum has begun rebuilding but not reached broad bullish conviction that would conflict with the directional indicator bias.
Price sits at $70.66, below the 12-day EMA ($71.89, decreasing) and under the 20-day average ($72.09), while the 200-day average ($71.09) lies marginally above the close. Price trades near the lower Bollinger band (1σ lower $69.90), suggesting proximity to short-term support yet below multiple short-to-intermediate moving averages; combined with ADX strength, technicals favor continued downside risk with the potential for a contained bounce if MACD crosses above its signal and DI+ halts its decline.
Fundamental Analysis
Profitability expanded: operating margin equals 14.015% and EBIT margin equals 14.144%, up 5.23% quarter-over-quarter and up 37.24% year-over-year, reflecting margin recovery versus prior periods. Gross margin improved to 34.584%, up 5.46% QoQ and 8.88% YoY, supporting the current valuation and WMDST’s under-valued assessment.
Revenue trends show contraction: reported revenue growth equals 1.53% on the last measure, but sequential and twelve‑month comparisons show sharp declines—revenue fell roughly 81.65% QoQ and 82.38% YoY on the provided measures—indicating uneven top-line timing versus improved margin performance; operating leverage remains high at 4.46, amplifying margin sensitivity to revenue swings.
Liquidity and balance-sheet metrics present resilience: current ratio stands at 2.74 and quick ratio at 1.53, both above the industry peer mean (current ratio mean ~2.05, quick ratio mean ~1.41), while cash and short-term investments total $68,000,000 and operating cash flow reached $41,900,000. The cash conversion cycle equals ~117 days, slightly below the industry peer mean of ~125 days and near the industry peer median.
Leverage and coverage: total debt totals $331,500,000 and net debt about $263,500,000, producing debt-to-EBITDA near 6.91x and an interest coverage ratio of ~6.98x—below the industry peer mean interest coverage of ~12.67x—so coverage improved versus prior periods but remains tighter than peer-average cushions.
Valuation multiples provide mixed signals: price-to-book at 2.78 sits below the industry peer mean (~3.93) and median (~4.02), while price-to-sales at 11.35 sits below the industry peer mean (~15.22). Forward P/E (≈87.62) and trailing P/E (≈90.54) align near the industry peer mean (~87.20) and median (~93.42). Free cash flow yield equals ~1.14%, modestly above the industry peer mean of ~0.94%. WMDST values the stock as under-valued, driven by a combination of improving margins, cash-flow generation, and relative discounts on price-to-book and price-to-sales versus the industry peer mean and median.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-10 |
| NEXT REPORT DATE: | 2026-11-09 |
| CASH FLOW | Begin Period Cash Flow | $ 64.2 M |
| Operating Cash Flow | $ 41.9 M | |
| Capital Expenditures | $ -12.00 M | |
| Change In Working Capital | $ 1.0 M | |
| Dividends Paid | $ -3.90 M | |
| Cash Flow Delta | $ 3.8 M | |
| End Period Cash Flow | $ 68.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 231.9 M | |
| Forward Revenue | $ 78.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 151.7 M | |
| Depreciation | $ 7.7 M | |
| Depreciation and Amortization | $ 15.2 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 199.4 M | |
| PROFITABILITY | ||
| Gross Profit | $ 80.2 M | |
| EBITDA | $ 48.0 M | |
| EBIT | $ 32.8 M | |
| Operating Income | $ 32.5 M | |
| Interest Income | — | |
| Interest Expense | $ 4.7 M | |
| Net Interest Income | $ -4.70 M | |
| Income Before Tax | $ 28.1 M | |
| Tax Provision | $ 6.2 M | |
| Tax Rate | 22.1 % | |
| Net Income | $ 21.9 M | |
| Net Income From Continuing Operations | $ 21.9 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.80 | |
| EPS Actual | $ 0.88 | |
| EPS Difference | $ 0.08 | |
| EPS Surprise | 10.0 % | |
| Forward EPS | $ 0.90 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.5 B | |
| Intangible Assets | $ 842.0 M | |
| Net Tangible Assets | $ 106.3 M | |
| Total Current Assets | $ 438.7 M | |
| Cash and Short-Term Investments | $ 68.0 M | |
| Cash | $ 68.0 M | |
| Net Receivables | $ 140.6 M | |
| Inventory | $ 194.0 M | |
| Long-Term Investments | $ 23.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 87.9 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 159.9 M | |
| Net Debt | $ 263.5 M | |
| Total Debt | $ 331.5 M | |
| Total Liabilities | $ 567.7 M | |
| EQUITY | ||
| Total Equity | $ 948.3 M | |
| Retained Earnings | $ 572.7 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 28.70 | |
| Shares Outstanding | 33.046 M | |
| Revenue Per-Share | $ 7.02 | |
| VALUATION | Market Capitalization | $ 2.6 B |
| Enterprise Value | $ 2.9 B | |
| Enterprise Multiple | 60.345 | |
| Enterprise Multiple QoQ | 10.402 % | |
| Enterprise Multiple YoY | 26.832 % | |
| Enterprise Multiple IPRWA | high: 171.892 median: 67.168 mean: 65.735 HLIO: 60.345 low: -93.983 |
|
| EV/R | 12.491 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.599 | |
| Asset To Liability | 2.67 | |
| Debt To Capital | 0.259 | |
| Debt To Assets | 0.219 | |
| Debt To Assets QoQ | -5.149 % | |
| Debt To Assets YoY | -20.179 % | |
| Debt To Assets IPRWA | high: 0.613 mean: 0.364 median: 0.331 HLIO: 0.219 low: 0.01 |
|
| Debt To Equity | 0.35 | |
| Debt To Equity QoQ | -6.072 % | |
| Debt To Equity YoY | -26.448 % | |
| Debt To Equity IPRWA | high: 4.566 mean: 1.462 median: 0.616 HLIO: 0.35 low: 0.012 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.777 | |
| Price To Book QoQ | 17.166 % | |
| Price To Book YoY | 78.5 % | |
| Price To Book IPRWA | high: 9.429 median: 4.018 mean: 3.934 HLIO: 2.777 low: 0.557 |
|
| Price To Earnings (P/E) | 90.543 | |
| Price To Earnings QoQ | 8.066 % | |
| Price To Earnings YoY | 55.386 % | |
| Price To Earnings IPRWA | high: 209.077 median: 93.424 HLIO: 90.543 mean: 87.2 low: -20.917 |
|
| PE/G Ratio | 9.054 | |
| Price To Sales (P/S) | 11.354 | |
| Price To Sales QoQ | 16.864 % | |
| Price To Sales YoY | 70.133 % | |
| Price To Sales IPRWA | high: 46.599 median: 17.493 mean: 15.221 HLIO: 11.354 low: 0.756 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 87.617 | |
| Forward PE/G | 8.762 | |
| Forward P/S | 33.579 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.464 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.153 | |
| Asset Turnover Ratio QoQ | 1.484 % | |
| Asset Turnover Ratio YoY | 12.03 % | |
| Asset Turnover Ratio IPRWA | high: 0.418 mean: 0.196 median: 0.184 HLIO: 0.153 low: 0.023 |
|
| Receivables Turnover | 1.668 | |
| Receivables Turnover Ratio QoQ | -7.449 % | |
| Receivables Turnover Ratio YoY | -3.938 % | |
| Receivables Turnover Ratio IPRWA | high: 3.271 HLIO: 1.668 mean: 1.408 median: 1.38 low: 0.451 |
|
| Inventory Turnover | 0.788 | |
| Inventory Turnover Ratio QoQ | -2.559 % | |
| Inventory Turnover Ratio YoY | 2.447 % | |
| Inventory Turnover Ratio IPRWA | high: 1.38 mean: 1.035 median: 0.967 HLIO: 0.788 low: 0.088 |
|
| Days Sales Outstanding (DSO) | 54.715 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 117.163 | |
| Cash Conversion Cycle Days QoQ | -3.497 % | |
| Cash Conversion Cycle Days YoY | -12.114 % | |
| Cash Conversion Cycle Days IPRWA | high: 202.657 mean: 125.201 median: 118.903 HLIO: 117.163 low: 11.079 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.832 | |
| CapEx To Revenue | -0.052 | |
| CapEx To Depreciation | -1.558 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.3 B | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ 106.3 M | |
| Net Working Capital | $ 278.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.425 | |
| Current Ratio | 2.744 | |
| Current Ratio QoQ | -3.92 % | |
| Current Ratio YoY | 11.843 % | |
| Current Ratio IPRWA | high: 8.052 HLIO: 2.744 mean: 2.054 median: 1.987 low: 0.133 |
|
| Quick Ratio | 1.53 | |
| Quick Ratio QoQ | -3.058 % | |
| Quick Ratio YoY | 8.745 % | |
| Quick Ratio IPRWA | high: 3.587 HLIO: 1.53 mean: 1.409 median: 1.151 low: 0.444 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.906 | |
| Cost Of Debt | 1.077 % | |
| Interest Coverage Ratio | 6.979 | |
| Interest Coverage Ratio QoQ | 15.933 % | |
| Interest Coverage Ratio YoY | 123.064 % | |
| Interest Coverage Ratio IPRWA | high: 30.86 median: 14.671 mean: 12.667 HLIO: 6.979 low: -24.009 |
|
| Operating Cash Flow Ratio | 0.2 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 51.956 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 5.615 | |
| Dividend Payout Ratio | 0.178 | |
| Dividend Rate | $ 0.12 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.284 % | |
| Revenue Growth | 1.532 % | |
| Revenue Growth QoQ | -81.65 % | |
| Revenue Growth YoY | -82.383 % | |
| Revenue Growth IPRWA | high: 27.212 % mean: 7.977 % median: 7.097 % HLIO: 1.532 % low: -19.856 % |
|
| Earnings Growth | 10.0 % | |
| Earnings Growth QoQ | -909.717 % | |
| Earnings Growth YoY | -94.054 % | |
| Earnings Growth IPRWA | high: 83.333 % mean: 13.321 % HLIO: 10.0 % median: 8.796 % low: -72.727 % |
|
| MARGINS | ||
| Gross Margin | 34.584 % | |
| Gross Margin QoQ | 5.462 % | |
| Gross Margin YoY | 8.875 % | |
| Gross Margin IPRWA | high: 74.667 % median: 44.129 % mean: 43.824 % HLIO: 34.584 % low: 7.784 % |
|
| EBIT Margin | 14.144 % | |
| EBIT Margin QoQ | 5.23 % | |
| EBIT Margin YoY | 37.24 % | |
| EBIT Margin IPRWA | high: 41.986 % median: 22.018 % mean: 21.711 % HLIO: 14.144 % low: -55.433 % |
|
| Return On Sales (ROS) | 14.015 % | |
| Return On Sales QoQ | 7.058 % | |
| Return On Sales YoY | 35.989 % | |
| Return On Sales IPRWA | high: 41.481 % median: 25.202 % mean: 21.901 % HLIO: 14.015 % low: -53.436 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 29.9 M | |
| Free Cash Flow Yield | 1.136 % | |
| Free Cash Flow Yield QoQ | 54.558 % | |
| Free Cash Flow Yield YoY | -47.015 % | |
| Free Cash Flow Yield IPRWA | high: 4.677 % HLIO: 1.136 % mean: 0.944 % median: 0.871 % low: -11.95 % |
|
| Free Cash Growth | 83.436 % | |
| Free Cash Growth QoQ | -243.613 % | |
| Free Cash Growth YoY | -44.07 % | |
| Free Cash Growth IPRWA | high: 522.778 % HLIO: 83.436 % mean: 45.127 % median: 19.508 % low: -404.564 % |
|
| Free Cash To Net Income | 1.365 | |
| Cash Flow Margin | 13.756 % | |
| Cash Flow To Earnings | 1.457 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 1.447 % | |
| Return On Assets QoQ | 11.137 % | |
| Return On Assets YoY | 97.139 % | |
| Return On Assets IPRWA | high: 7.697 % mean: 3.072 % median: 3.038 % HLIO: 1.447 % low: -9.591 % |
|
| Return On Capital Employed (ROCE) | 2.419 % | |
| Return On Equity (ROE) | 0.023 | |
| Return On Equity QoQ | 9.743 % | |
| Return On Equity YoY | 84.72 % | |
| Return On Equity IPRWA | high: 0.145 mean: 0.039 median: 0.036 HLIO: 0.023 low: -0.158 |
|
| DuPont ROE | 2.324 % | |
| Return On Invested Capital (ROIC) | 1.996 % | |
| Return On Invested Capital QoQ | 8.537 % | |
| Return On Invested Capital YoY | 60.193 % | |
| Return On Invested Capital IPRWA | high: 10.368 % mean: 4.312 % median: 3.807 % HLIO: 1.996 % low: -8.568 % |
|