Recent News
On July 1, 2026 Daniel M. Bendheim assumed the role of Chief Executive Officer and President, with Jack C. Bendheim moving to Executive Chairman. On July 28, 2026 the Board declared a quarterly cash dividend of $0.12 per share, payable September 23, 2026 (record date September 2, 2026).
Technical Analysis
ADX at 20.11 indicates only an emerging trend strength, limiting conviction for a sustained directional breakout relative to the current fair-valued assessment.
DI+ at 20.96 trending down while DI- at 17.70 trending up points to a bearish directional bias in the short term, increasing the probability of lower highs against resistance levels near the 20-day average.
MACD shows a decreasing momentum profile with MACD below its signal line (MACD 0.00 vs signal 0.38), a bearish momentum reading that weakens the immediate upside case versus the stated valuation.
MRO registers -23.0 and is decreasing; the negative reading implies the price sits below the internal target, indicating mean-reversion potential that could support price recovery if momentum stabilizes.
RSI at 51.0 with a decreasing trend reflects neutral positioning that has recently softened, consistent with price trading below short- and medium-term moving averages (price $34.56 vs 20‑day average $36.73 and 50‑day average $35.35).
Price sits below the 12‑day and 26‑day EMAs (12‑day EMA $35.80; 26‑day EMA $35.91) and below the 200‑day average ($41.29), reinforcing short-term bearish pressure while Bollinger lower band proximity (1× lower $34.86) flags limited oversold room before a larger mean reversion.
Fundamental Analysis
Profitability: Operating margin stands at 11.64% and EBIT margin at 11.06%. EBIT of $42,422,000 and EBITDA of $54,870,000 show positive operating profitability, though the EBIT margin compares below the industry peer mean of 29.33% and the industry peer median of 28.17%.
Margins trended slightly lower QoQ: EBIT margin declined about 14.32% quarter-over-quarter and declined 0.76% year-over-year, signaling compression versus recent quarters despite positive absolute margins.
Earnings: Reported EPS of $0.85 beat the estimate of $0.73 by $0.12, an EPS surprise of +16.44%, reflecting better-than-expected near-term earnings execution; forward EPS sits at $0.94 with a forward P/E of 57.86.
Growth: Revenue year-over-year contracted roughly 79.34%, with quarter-over-quarter revenue down about 6.43%, indicating sharp YoY comparability effects; WMDST notes this sharp YoY decline alongside positive segment-level commentary in the annual results.
Cash flow and liquidity: Operating cash flow $16,206,000 and free cash flow $890,000 translate to a free-cash-flow yield of ~0.04%. Cash and short-term investments total $77,451,000 and the current ratio equals 3.17, providing short-term liquidity cushion despite low free cash conversion.
Leverage: Total debt $787,444,000 produces net debt of $680,587,000 against market capitalization $2,121,427,150. Debt-to-equity equals 217.63%, above the industry peer mean of 108.50%; debt-to-EBITDA rounds to 14.35, signaling elevated leverage relative to operating cash flow coverage. Interest coverage sits at 4.20, below the industry peer mean of 20.82.
Capital returns: The Board declared a quarterly cash dividend of $0.12 per share; dividend yield equals about 0.23% and the dividend payout ratio about 20.26% of earnings.
Valuation context: Price ratios show P/E ≈ 68.8 (slightly below the industry peer mean ~70.27), P/B ≈ 5.86 (slightly below the industry peer mean ~6.32), and EV/Revenue and enterprise multiple consistent with the stated WMDST valuation. WMDST values the stock as fair-valued given compressed growth, leverage profile, and mixed margin performance balanced by recent EPS outperformance.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-08-26 |
| NEXT REPORT DATE: | 2026-11-25 |
| CASH FLOW | Begin Period Cash Flow | $ 55.5 M |
| Operating Cash Flow | $ 16.2 M | |
| Capital Expenditures | $ -15.32 M | |
| Change In Working Capital | $ -26.71 M | |
| Dividends Paid | $ -4.87 M | |
| Cash Flow Delta | $ -557.00 K | |
| End Period Cash Flow | $ 54.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 383.5 M | |
| Forward Revenue | $ 152.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 257.9 M | |
| Depreciation | $ 10.7 M | |
| Depreciation and Amortization | $ 12.4 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 338.9 M | |
| PROFITABILITY | ||
| Gross Profit | $ 125.7 M | |
| EBITDA | $ 54.9 M | |
| EBIT | $ 42.4 M | |
| Operating Income | $ 44.7 M | |
| Interest Income | $ 250.0 K | |
| Interest Expense | $ 10.1 M | |
| Net Interest Income | $ -10.43 M | |
| Income Before Tax | $ 32.3 M | |
| Tax Provision | $ 8.3 M | |
| Tax Rate | 25.7 % | |
| Net Income | $ 24.0 M | |
| Net Income From Continuing Operations | $ 24.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.73 | |
| EPS Actual | $ 0.85 | |
| EPS Difference | $ 0.12 | |
| EPS Surprise | 16.438 % | |
| Forward EPS | $ 0.94 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.4 B | |
| Intangible Assets | $ 91.6 M | |
| Net Tangible Assets | $ 270.3 M | |
| Total Current Assets | $ 894.1 M | |
| Cash and Short-Term Investments | $ 77.5 M | |
| Cash | $ 54.9 M | |
| Net Receivables | $ 221.5 M | |
| Inventory | $ 539.7 M | |
| Long-Term Investments | $ 21.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 129.6 M | |
| Short-Term Debt | $ 22.8 M | |
| Total Current Liabilities | $ 281.9 M | |
| Net Debt | $ 680.6 M | |
| Total Debt | $ 787.4 M | |
| Total Liabilities | $ 1.1 B | |
| EQUITY | ||
| Total Equity | $ 361.8 M | |
| Retained Earnings | $ 336.1 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 8.92 | |
| Shares Outstanding | 40.565 M | |
| Revenue Per-Share | $ 9.46 | |
| VALUATION | Market Capitalization | $ 2.1 B |
| Enterprise Value | $ 2.8 B | |
| Enterprise Multiple | 51.602 | |
| Enterprise Multiple QoQ | 36.612 % | |
| Enterprise Multiple YoY | 74.64 % | |
| Enterprise Multiple IPRWA | high: 186.073 median: 72.06 mean: 70.858 PAHC: 51.602 low: -65.796 |
|
| EV/R | 7.382 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.994 | |
| Asset To Liability | 1.334 | |
| Debt To Capital | 0.685 | |
| Debt To Assets | 0.545 | |
| Debt To Assets QoQ | -0.942 % | |
| Debt To Assets YoY | -6.785 % | |
| Debt To Assets IPRWA | high: 0.965 PAHC: 0.545 median: 0.372 mean: 0.363 low: 0.001 |
|
| Debt To Equity | 2.176 | |
| Debt To Equity QoQ | -6.448 % | |
| Debt To Equity YoY | -24.823 % | |
| Debt To Equity IPRWA | high: 2.857 PAHC: 2.176 mean: 1.085 median: 1.071 low: -0.494 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 5.863 | |
| Price To Book QoQ | 20.92 % | |
| Price To Book YoY | 90.503 % | |
| Price To Book IPRWA | high: 15.559 median: 6.346 mean: 6.321 PAHC: 5.863 low: -2.867 |
|
| Price To Earnings (P/E) | 68.812 | |
| Price To Earnings QoQ | 50.579 % | |
| Price To Earnings YoY | 114.648 % | |
| Price To Earnings IPRWA | high: 206.5 median: 80.612 mean: 70.266 PAHC: 68.812 low: -89.846 |
|
| PE/G Ratio | -5.442 | |
| Price To Sales (P/S) | 5.531 | |
| Price To Sales QoQ | 28.334 % | |
| Price To Sales YoY | 135.006 % | |
| Price To Sales IPRWA | high: 42.912 mean: 24.625 median: 23.386 PAHC: 5.531 low: 0.845 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 57.864 | |
| Forward PE/G | -4.576 | |
| Forward P/S | 15.673 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -4.702 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.269 | |
| Asset Turnover Ratio QoQ | 0.433 % | |
| Asset Turnover Ratio YoY | 0.681 % | |
| Asset Turnover Ratio IPRWA | high: 0.28 PAHC: 0.269 mean: 0.133 median: 0.123 low: 0.004 |
|
| Receivables Turnover | 1.754 | |
| Receivables Turnover Ratio QoQ | 1.72 % | |
| Receivables Turnover Ratio YoY | -1.859 % | |
| Receivables Turnover Ratio IPRWA | high: 2.066 PAHC: 1.754 mean: 1.235 median: 1.197 low: 0.109 |
|
| Inventory Turnover | 0.488 | |
| Inventory Turnover Ratio QoQ | 0.018 % | |
| Inventory Turnover Ratio YoY | -12.19 % | |
| Inventory Turnover Ratio IPRWA | high: 1.256 PAHC: 0.488 mean: 0.486 median: 0.408 low: 0.041 |
|
| Days Sales Outstanding (DSO) | 52.034 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 202.212 | |
| Cash Conversion Cycle Days QoQ | 7.288 % | |
| Cash Conversion Cycle Days YoY | 4.847 % | |
| Cash Conversion Cycle Days IPRWA | high: 418.272 PAHC: 202.212 mean: 169.598 median: 109.537 low: -17.659 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.626 | |
| CapEx To Revenue | -0.04 | |
| CapEx To Depreciation | -1.428 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.1 B | |
| Net Invested Capital | $ 1.1 B | |
| Invested Capital | $ 1.1 B | |
| Net Tangible Assets | $ 270.3 M | |
| Net Working Capital | $ 612.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.275 | |
| Current Ratio | 3.172 | |
| Current Ratio QoQ | 3.882 % | |
| Current Ratio YoY | 8.922 % | |
| Current Ratio IPRWA | high: 7.935 PAHC: 3.172 mean: 1.185 median: 1.025 low: 0.276 |
|
| Quick Ratio | 1.257 | |
| Quick Ratio QoQ | 2.946 % | |
| Quick Ratio YoY | 2.257 % | |
| Quick Ratio IPRWA | high: 3.901 PAHC: 1.257 mean: 0.86 median: 0.773 low: 0.069 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 14.351 | |
| Cost Of Debt | 0.963 % | |
| Interest Coverage Ratio | 4.196 | |
| Interest Coverage Ratio QoQ | 2.971 % | |
| Interest Coverage Ratio YoY | -1.705 % | |
| Interest Coverage Ratio IPRWA | high: 54.443 mean: 20.824 median: 13.838 PAHC: 4.196 low: -48.677 |
|
| Operating Cash Flow Ratio | 0.017 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 49.726 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.935 | |
| Dividend Payout Ratio | 0.203 | |
| Dividend Rate | $ 0.12 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.815 % | |
| Revenue Growth | 2.576 % | |
| Revenue Growth QoQ | -6.429 % | |
| Revenue Growth YoY | -79.342 % | |
| Revenue Growth IPRWA | high: 23.323 % PAHC: 2.576 % mean: -2.001 % median: -2.044 % low: -34.135 % |
|
| Earnings Growth | -12.644 % | |
| Earnings Growth QoQ | -165.93 % | |
| Earnings Growth YoY | -175.862 % | |
| Earnings Growth IPRWA | high: 80.0 % median: 9.549 % mean: -4.352 % PAHC: -12.644 % low: -171.429 % |
|
| MARGINS | ||
| Gross Margin | 32.767 % | |
| Gross Margin QoQ | -7.641 % | |
| Gross Margin YoY | 8.994 % | |
| Gross Margin IPRWA | high: 90.321 % mean: 75.05 % median: 74.423 % PAHC: 32.767 % low: 7.704 % |
|
| EBIT Margin | 11.061 % | |
| EBIT Margin QoQ | -14.316 % | |
| EBIT Margin YoY | -0.763 % | |
| EBIT Margin IPRWA | high: 72.336 % mean: 29.325 % median: 28.172 % PAHC: 11.061 % low: -113.582 % |
|
| Return On Sales (ROS) | 11.642 % | |
| Return On Sales QoQ | -13.5 % | |
| Return On Sales YoY | 4.45 % | |
| Return On Sales IPRWA | high: 77.585 % mean: 31.434 % median: 30.056 % PAHC: 11.642 % low: -113.597 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 890.0 K | |
| Free Cash Flow Yield | 0.042 % | |
| Free Cash Flow Yield QoQ | -91.797 % | |
| Free Cash Flow Yield YoY | -99.029 % | |
| Free Cash Flow Yield IPRWA | high: 8.308 % mean: 0.935 % median: 0.606 % PAHC: 0.042 % low: -7.735 % |
|
| Free Cash Growth | -89.219 % | |
| Free Cash Growth QoQ | -68.505 % | |
| Free Cash Growth YoY | -89.455 % | |
| Free Cash Growth IPRWA | high: 242.307 % mean: -14.323 % median: -44.294 % PAHC: -89.219 % low: -213.333 % |
|
| Free Cash To Net Income | 0.037 | |
| Cash Flow Margin | 1.25 % | |
| Cash Flow To Earnings | 0.2 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.685 % | |
| Return On Assets QoQ | -14.38 % | |
| Return On Assets YoY | 5.05 % | |
| Return On Assets IPRWA | high: 8.812 % mean: 3.037 % median: 2.701 % PAHC: 1.685 % low: -20.654 % |
|
| Return On Capital Employed (ROCE) | 3.647 % | |
| Return On Equity (ROE) | 0.066 | |
| Return On Equity QoQ | -19.632 % | |
| Return On Equity YoY | -15.414 % | |
| Return On Equity IPRWA | high: 0.239 mean: 0.088 PAHC: 0.066 median: 0.065 low: -0.557 |
|
| DuPont ROE | 6.922 % | |
| Return On Invested Capital (ROIC) | 2.872 % | |
| Return On Invested Capital QoQ | -16.072 % | |
| Return On Invested Capital YoY | 4.627 % | |
| Return On Invested Capital IPRWA | high: 14.677 % mean: 5.786 % median: 4.113 % PAHC: 2.872 % low: -9.485 % |
|