Recent News
On June 25, 2026 the company announced an agreement to acquire Synaptics in an all-stock transaction with an implied enterprise value near $7.0 billion. On July 7, 2026 the company disclosed definitive agreements to divest two manufacturing facilities as part of its “Fab Right” strategy to optimize manufacturing costs and improve gross margin.
Technical Analysis
ADX / DI+ / DI-: ADX at 29.78 indicates a strong directional regime; DI+ shows a dip-and-reversal while DI- shows a peak-and-reversal, both actions signaling buy-side re-acceleration and reducing downside directional pressure relative to recent price weakness.
MACD: MACD sits negative at -3.07 but the MACD line has increased and crossed above the signal line (signal -3.60), which constitutes a bullish momentum shift that supports near-term upward price pressure.
MRO (Momentum/Regression Oscillator): MRO at -13.61 indicates the price sits below the model target, implying upward pressure as the market re-tests fair-value levels and supporting the case for mean reversion toward the valuation gap.
RSI: RSI at 41.33 with a peak-and-reversal trend warns of residual short-term exhaustion after prior strength, introducing a risk of transient pullbacks even as momentum indicators flip bullish.
Price Structure & Moving Averages: Current close $71.65 sits below the 200-day average ($79.00) and near the 20-day average ($72.88), with the 12-day EMA showing a dip-and-reversal; this alignment supports a tactical bounce that would still need follow-through above the 50-day average ($81.53) to confirm a sustained trend change.
Bands, Cloud & Volatility: Price trades near the lower Bollinger band ($71.04 one-std), Ichimoku components lie well above the market price (Senkou A $93.28 / Senkou B $106.86), and 42‑day beta (2.31) shows elevated short-term sensitivity; these elements favor fast, directional moves rather than grind higher.
Fundamental Analysis
Revenue & Margins: Total revenue $1,603,500,000 with reported revenue growth of 5.96%. Gross margin stands at 38.435% and operating margin at 18.697%; EBIT margin equals 17.749%, which sits below the industry peer mean of 51.605% and below the industry peer median of 65.849% (industry peer range low -171.079% to high 80.114%).
Profitability Trends: EBIT margin improved year-over-year by 18.437% while quarter-over-quarter the EBIT margin showed a decline of -9.41983% from the prior quarter; operating margin rose 0.0255 QoQ and shows a YoY improvement of 13.192%—these dynamics indicate margin expansion drivers alongside near-term compression versus the immediate prior quarter.
Cash, Liquidity & Leverage: Cash $3,514,500,000 and cash and short-term investments $3,864,500,000 support a cash ratio of 1.8386 and a current ratio of 3.4644, signaling ample near-term liquidity. Total debt stands at $4,482,700,000 with net debt $944,900,000 and debt-to-EBITDA at 10.53, which reflects elevated leverage relative to earnings and amplifies sensitivity to operating cash flow swings.
Cash Flow & Capital Allocation: Operating cash flow $347,600,000 and free cash flow $425,400,000 yield a free cash flow yield of 1.141%, slightly below the industry peer mean of 1.238%; free cash flow grew materially over the period but sequential growth shows volatility.
Earnings & Valuation Metrics: Reported EPS $0.74 versus an estimate $0.72, an EPS surprise of +2.78%. Trailing P/E 129.43 and forward P/E 91.03 sit at a steep premium; enterprise multiple registers at 88.99 and EV/revenue approx 23.64, placing the company in a valuation premium despite improving margins. WMDST values the stock as over-valued based on the gap between current multiples and operating cash-flow fundamentals.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-03 |
| NEXT REPORT DATE: | 2026-11-02 |
| CASH FLOW | Begin Period Cash Flow | $ 2.0 B |
| Operating Cash Flow | $ 347.6 M | |
| Capital Expenditures | $ -34.30 M | |
| Change In Working Capital | $ 44.6 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 1.5 B | |
| End Period Cash Flow | $ 3.5 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.6 B | |
| Forward Revenue | $ 777.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 987.2 M | |
| Depreciation | $ 130.8 M | |
| Depreciation and Amortization | $ 141.3 M | |
| Research and Development | $ 140.8 M | |
| Total Operating Expenses | $ 1.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 616.3 M | |
| EBITDA | $ 425.9 M | |
| EBIT | $ 284.6 M | |
| Operating Income | $ 299.8 M | |
| Interest Income | $ 17.4 M | |
| Interest Expense | $ 13.7 M | |
| Net Interest Income | $ 3.7 M | |
| Income Before Tax | $ 270.9 M | |
| Tax Provision | $ 43.4 M | |
| Tax Rate | 16.0 % | |
| Net Income | $ 226.8 M | |
| Net Income From Continuing Operations | $ 227.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.72 | |
| EPS Actual | $ 0.74 | |
| EPS Difference | $ 0.02 | |
| EPS Surprise | 2.778 % | |
| Forward EPS | $ 1.13 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 13.5 B | |
| Intangible Assets | $ 2.0 B | |
| Net Tangible Assets | $ 5.2 B | |
| Total Current Assets | $ 7.3 B | |
| Cash and Short-Term Investments | $ 3.9 B | |
| Cash | $ 3.5 B | |
| Net Receivables | $ 897.2 M | |
| Inventory | $ 2.0 B | |
| Long-Term Investments | $ 247.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 498.3 M | |
| Short-Term Debt | $ 802.1 M | |
| Total Current Liabilities | $ 2.1 B | |
| Net Debt | $ 944.9 M | |
| Total Debt | $ 4.5 B | |
| Total Liabilities | $ 6.2 B | |
| EQUITY | ||
| Total Equity | $ 7.2 B | |
| Retained Earnings | $ 8.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 18.54 | |
| Shares Outstanding | 389.291 M | |
| Revenue Per-Share | $ 4.12 | |
| VALUATION | Market Capitalization | $ 37.3 B |
| Enterprise Value | $ 37.9 B | |
| Enterprise Multiple | 88.995 | |
| Enterprise Multiple QoQ | -21.839 % | |
| Enterprise Multiple YoY | 54.442 % | |
| Enterprise Multiple IPRWA | high: 457.147 ON: 88.995 mean: 62.614 median: 23.495 low: -212.588 |
|
| EV/R | 23.638 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.868 | |
| Asset To Liability | 2.159 | |
| Debt To Capital | 0.383 | |
| Debt To Assets | 0.332 | |
| Debt To Assets QoQ | 32.798 % | |
| Debt To Assets YoY | 29.296 % | |
| Debt To Assets IPRWA | high: 0.529 ON: 0.332 mean: 0.116 median: 0.048 low: 0.0 |
|
| Debt To Equity | 0.621 | |
| Debt To Equity QoQ | 50.815 % | |
| Debt To Equity YoY | 46.116 % | |
| Debt To Equity IPRWA | high: 1.588 ON: 0.621 mean: 0.226 median: 0.063 low: 0.0 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 5.165 | |
| Price To Book QoQ | 32.752 % | |
| Price To Book YoY | 93.948 % | |
| Price To Book IPRWA | high: 34.003 median: 8.494 mean: 8.095 ON: 5.165 low: 0.14 |
|
| Price To Earnings (P/E) | 129.427 | |
| Price To Earnings QoQ | -114.283 % | |
| Price To Earnings YoY | 29.47 % | |
| Price To Earnings IPRWA | high: 629.789 ON: 129.427 mean: 79.668 median: -0.751 low: -277.891 |
|
| PE/G Ratio | 8.283 | |
| Price To Sales (P/S) | 23.252 | |
| Price To Sales QoQ | 23.861 % | |
| Price To Sales YoY | 61.489 % | |
| Price To Sales IPRWA | high: 123.387 mean: 27.849 ON: 23.252 median: 20.637 low: 0.291 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 91.035 | |
| Forward PE/G | 5.826 | |
| Forward P/S | 47.969 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -166.457 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.126 | |
| Asset Turnover Ratio QoQ | 1.962 % | |
| Asset Turnover Ratio YoY | 12.959 % | |
| Asset Turnover Ratio IPRWA | high: 0.352 median: 0.352 mean: 0.254 ON: 0.126 low: 0.001 |
|
| Receivables Turnover | 1.822 | |
| Receivables Turnover Ratio QoQ | 6.611 % | |
| Receivables Turnover Ratio YoY | 8.682 % | |
| Receivables Turnover Ratio IPRWA | high: 4.724 mean: 2.012 median: 1.961 ON: 1.822 low: 0.607 |
|
| Inventory Turnover | 0.482 | |
| Inventory Turnover Ratio QoQ | 4.628 % | |
| Inventory Turnover Ratio YoY | 9.482 % | |
| Inventory Turnover Ratio IPRWA | high: 1.86 mean: 0.823 median: 0.76 ON: 0.482 low: 0.281 |
|
| Days Sales Outstanding (DSO) | 50.078 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 202.732 | |
| Cash Conversion Cycle Days QoQ | 5.44 % | |
| Cash Conversion Cycle Days YoY | 12.037 % | |
| Cash Conversion Cycle Days IPRWA | high: 304.92 ON: 202.732 mean: 123.226 median: 119.759 low: -60.285 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.31 | |
| CapEx To Revenue | -0.021 | |
| CapEx To Depreciation | -0.262 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 10.9 B | |
| Net Invested Capital | $ 11.7 B | |
| Invested Capital | $ 11.7 B | |
| Net Tangible Assets | $ 5.2 B | |
| Net Working Capital | $ 5.2 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.839 | |
| Current Ratio | 3.464 | |
| Current Ratio QoQ | -28.902 % | |
| Current Ratio YoY | -31.017 % | |
| Current Ratio IPRWA | high: 24.455 ON: 3.464 median: 3.425 mean: 3.279 low: 0.565 |
|
| Quick Ratio | 2.49 | |
| Quick Ratio QoQ | -20.789 % | |
| Quick Ratio YoY | -26.144 % | |
| Quick Ratio IPRWA | high: 18.499 median: 2.985 mean: 2.678 ON: 2.49 low: 0.483 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 10.525 | |
| Cost Of Debt | 0.307 % | |
| Interest Coverage Ratio | 20.774 | |
| Interest Coverage Ratio QoQ | -927.042 % | |
| Interest Coverage Ratio YoY | 68.946 % | |
| Interest Coverage Ratio IPRWA | high: 291.602 mean: 27.651 ON: 20.774 median: 14.831 low: -165.996 |
|
| Operating Cash Flow Ratio | 0.165 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 48.283 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 12.275 % | |
| Revenue Growth | 5.96 % | |
| Revenue Growth QoQ | -642.805 % | |
| Revenue Growth YoY | 274.607 % | |
| Revenue Growth IPRWA | high: 76.753 % median: 52.495 % mean: 42.042 % ON: 5.96 % low: -8.961 % |
|
| Earnings Growth | 15.625 % | |
| Earnings Growth QoQ | -113.889 % | |
| Earnings Growth YoY | -529.73 % | |
| Earnings Growth IPRWA | high: 105.82 % median: 100.0 % mean: 63.137 % ON: 15.625 % low: -148.0 % |
|
| MARGINS | ||
| Gross Margin | 38.435 % | |
| Gross Margin QoQ | -0.252 % | |
| Gross Margin YoY | 2.283 % | |
| Gross Margin IPRWA | high: 87.442 % median: 81.276 % mean: 66.832 % ON: 38.435 % low: -24.532 % |
|
| EBIT Margin | 17.749 % | |
| EBIT Margin QoQ | -941.983 % | |
| EBIT Margin YoY | 18.437 % | |
| EBIT Margin IPRWA | high: 80.114 % median: 65.849 % mean: 51.605 % ON: 17.749 % low: -171.079 % |
|
| Return On Sales (ROS) | 18.697 % | |
| Return On Sales QoQ | 2.55 % | |
| Return On Sales YoY | 13.192 % | |
| Return On Sales IPRWA | high: 80.37 % median: 65.849 % mean: 50.095 % ON: 18.697 % low: -171.079 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 425.4 M | |
| Free Cash Flow Yield | 1.141 % | |
| Free Cash Flow Yield QoQ | 49.15 % | |
| Free Cash Flow Yield YoY | 127.291 % | |
| Free Cash Flow Yield IPRWA | high: 2.053 % median: 2.053 % mean: 1.238 % ON: 1.141 % low: -4.696 % |
|
| Free Cash Growth | 95.856 % | |
| Free Cash Growth QoQ | -273.486 % | |
| Free Cash Growth YoY | -225.031 % | |
| Free Cash Growth IPRWA | high: 229.3 % median: 153.333 % mean: 113.914 % ON: 95.856 % low: -297.562 % |
|
| Free Cash To Net Income | 1.876 | |
| Cash Flow Margin | 21.678 % | |
| Cash Flow To Earnings | 1.533 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 1.779 % | |
| Return On Assets QoQ | -754.044 % | |
| Return On Assets YoY | 37.8 % | |
| Return On Assets IPRWA | high: 10.44 % mean: 3.061 % median: 2.452 % ON: 1.779 % low: -11.699 % |
|
| Return On Capital Employed (ROCE) | 2.5 % | |
| Return On Equity (ROE) | 0.031 | |
| Return On Equity QoQ | -787.527 % | |
| Return On Equity YoY | 46.48 % | |
| Return On Equity IPRWA | high: 0.28 median: 0.28 mean: 0.166 ON: 0.031 low: -0.234 |
|
| DuPont ROE | 3.124 % | |
| Return On Invested Capital (ROIC) | 2.047 % | |
| Return On Invested Capital QoQ | -993.886 % | |
| Return On Invested Capital YoY | 23.686 % | |
| Return On Invested Capital IPRWA | high: 10.073 % mean: 3.499 % median: 2.956 % ON: 2.047 % low: -11.928 % |
|