Technical Analysis
ADX sits at 20.46, indicating an emerging trend rather than a well-established directional move; the reading suggests the market recently found directional conviction but lacks strong trend strength to sustain large directional swings. That limited trend strength amplifies the significance of short-term signals for the next few weeks.
Directional indicators show DInegative at 29.54 (dip & reversal) and DIpositive at 19.60 (dip & reversal). DInegative exceeding DIpositive introduces a near-term bearish pressure, even as DIpositive’s dip-and-reverse behavior signals renewed buying interest; the net directional bias favors sellers until DIpositive overtakes DInegative.
MACD registers -1.80 with the MACD line above the signal line (-1.92), and the MACD trend shows increasing momentum. The MACD crossing above its signal line qualifies as a bullish momentum shift, yet the negative MACD level indicates that momentum remains recovering from prior weakness rather than firmly in a long-run expansion phase.
MRO sits at 4.72 and positive, indicating price above the model target and a modest likelihood of mean reversion downward; the magnitude implies weak pressure rather than a strong overextension. That dynamic complements the ADX reading and the DI balance when assessing short-term pullback risk.
RSI at 45.89 with a dip & reversal describes a recovery from lower readings into a neutral band below 50. This pattern supports a short-term stabilization thesis but does not confirm a sustained breakout while the 50-day and 200-day averages remain above the current price.
Price context: last close $41.10 sits above the 20-day average ($38.62) and the 12-day EMA ($39.10) but below the 50-day average ($45.16) and the 200-day average ($42.31). Price trades just beneath the 2x Bollinger upper band ($41.24), indicating recent strength that edges toward the band ceiling. Volume at 3,679,067 exceeds the 10-day average (1,505,874), signaling above-normal participation behind recent moves.
Fundamental Analysis
Profitability: operating (EBIT) margin equals 15.26%, effectively in line with the industry peer mean of 15.202% and marginally below the industry peer median of 16.705%. EBIT totals $8,911,000 with EBITDA at $10,512,000, supporting improved operating leverage versus recent periods; EBIT margin QoQ rose +7.63% and operating margin YoY improved +14.00%.
Revenue and cash flow: total revenue registers $58,393,000 with operating cash flow $4,235,000 and free cash flow $2,527,000. QoQ and YoY growth fields report mixed signals: revenue growth reads 0.084% (overall) while YoY revenue growth shows -99.632%; interpret those numbers conservatively within the restated period metrics. Cash and short-term investments total $59,792,000 and the cash conversion ratio equals 89.06%, indicating strong liquidity conversion from earnings to cash.
Balance sheet and capital structure: current ratio stands at 2.86684 (above the industry peer mean of 1.67212), cash ratio at 1.70241, and debt-to-assets at 3.184% (well below the industry peer mean of 24.838%). Interest coverage at 342.73x signals negligible interest burden and ample coverage from operating earnings.
Market multiples and valuation signals: price-to-book equals 15.78, above the industry peer mean of 4.47 and above the peer high of 12.82; price-to-sales equals 23.43, above the industry peer mean of 9.13 and above the peer high of 17.20. Free cash flow yield measures 0.185%, below the industry peer mean of 1.197%. Forward P/E sits near 342.0 and enterprise multiple at 124.88. Taken together, WMDST’s current valuation assessment classifies the stock as over-valued relative to peer benchmarks and intrinsic measures.
Returns: return on equity equals 8.324% and return on assets equals 5.6%, both above their respective industry peer means, indicating efficient capital deployment on the operating side even as valuation multiples imply market expectations priced for substantially higher growth.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-08 |
| NEXT REPORT DATE: | 2025-11-07 |
| CASH FLOW | Begin Period Cash Flow | $ 56.6 M |
| Operating Cash Flow | $ 4.2 M | |
| Capital Expenditures | $ -1.71 M | |
| Change In Working Capital | $ -8.84 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 3.2 M | |
| End Period Cash Flow | $ 59.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 58.4 M | |
| Forward Revenue | $ 7.9 M | |
| COSTS | ||
| Cost Of Revenue | $ 35.4 M | |
| Depreciation | $ 1.6 M | |
| Depreciation and Amortization | $ 1.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 49.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 23.0 M | |
| EBITDA | $ 10.5 M | |
| EBIT | $ 8.9 M | |
| Operating Income | $ 8.9 M | |
| Interest Income | $ 577.0 K | |
| Interest Expense | — | |
| Net Interest Income | $ 577.0 K | |
| Income Before Tax | $ 9.5 M | |
| Tax Provision | $ 2.3 M | |
| Tax Rate | 23.914 % | |
| Net Income | $ 7.2 M | |
| Net Income From Continuing Operations | $ 7.2 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.12 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 132.6 M | |
| Intangible Assets | $ 16.0 M | |
| Net Tangible Assets | $ 70.7 M | |
| Total Current Assets | $ 100.7 M | |
| Cash and Short-Term Investments | $ 59.8 M | |
| Cash | $ 59.8 M | |
| Net Receivables | $ 34.1 M | |
| Inventory | — | |
| Long-Term Investments | $ 1.3 M | |
| LIABILITIES | ||
| Accounts Payable | $ 4.5 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 35.1 M | |
| Net Debt | — | |
| Total Debt | $ 4.2 M | |
| Total Liabilities | $ 46.0 M | |
| EQUITY | ||
| Total Equity | $ 86.7 M | |
| Retained Earnings | $ 34.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 2.72 | |
| Shares Outstanding | 31.845 M | |
| Revenue Per-Share | $ 1.83 | |
| VALUATION | Market Capitalization | $ 1.4 B |
| Enterprise Value | $ 1.3 B | |
| Enterprise Multiple | 124.882 | |
| Enterprise Multiple QoQ | 2.852 % | |
| Enterprise Multiple YoY | -47.99 % | |
| Enterprise Multiple IPRWA | high: 140.798 INOD: 124.882 median: 58.931 mean: 51.522 low: -43.256 |
|
| EV/R | 22.482 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.529 | |
| Asset To Liability | 2.884 | |
| Debt To Capital | 0.046 | |
| Debt To Assets | 0.032 | |
| Debt To Assets QoQ | -10.335 % | |
| Debt To Assets YoY | 153.705 % | |
| Debt To Assets IPRWA | high: 0.613 mean: 0.248 median: 0.129 INOD: 0.032 low: 0.006 |
|
| Debt To Equity | 0.049 | |
| Debt To Equity QoQ | -17.334 % | |
| Debt To Equity YoY | 70.364 % | |
| Debt To Equity IPRWA | high: 5.382 mean: 0.858 median: 0.253 INOD: 0.049 low: -3.312 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 15.778 | |
| Price To Book QoQ | -4.436 % | |
| Price To Book YoY | 4.929 % | |
| Price To Book IPRWA | INOD: 15.778 high: 12.822 median: 4.588 mean: 4.474 low: -1.349 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | 23.433 | |
| Price To Sales QoQ | 9.702 % | |
| Price To Sales YoY | 75.097 % | |
| Price To Sales IPRWA | INOD: 23.433 high: 17.197 median: 11.089 mean: 9.134 low: 0.008 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 341.999 | |
| Forward PE/G | — | |
| Forward P/S | 173.456 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 91.979 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.453 | |
| Asset Turnover Ratio QoQ | -7.359 % | |
| Asset Turnover Ratio YoY | -9.873 % | |
| Asset Turnover Ratio IPRWA | INOD: 0.453 high: 0.445 median: 0.287 mean: 0.24 low: 0.038 |
|
| Receivables Turnover | 1.833 | |
| Receivables Turnover Ratio QoQ | -9.517 % | |
| Receivables Turnover Ratio YoY | -9.253 % | |
| Receivables Turnover Ratio IPRWA | high: 3.883 INOD: 1.833 mean: 1.538 median: 1.268 low: 0.415 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 49.772 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.891 | |
| CapEx To Revenue | -0.029 | |
| CapEx To Depreciation | -1.067 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 86.7 M | |
| Net Invested Capital | $ 86.7 M | |
| Invested Capital | $ 86.7 M | |
| Net Tangible Assets | $ 70.7 M | |
| Net Working Capital | $ 65.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.702 | |
| Current Ratio | 2.867 | |
| Current Ratio QoQ | 21.489 % | |
| Current Ratio YoY | 97.225 % | |
| Current Ratio IPRWA | high: 3.358 INOD: 2.867 mean: 1.672 median: 1.461 low: 0.767 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.402 | |
| Cost Of Debt | 0.456 % | |
| Interest Coverage Ratio | 342.731 | |
| Interest Coverage Ratio QoQ | 7.725 % | |
| Interest Coverage Ratio YoY | 5594.924 % | |
| Interest Coverage Ratio IPRWA | INOD: 342.731 high: 46.876 mean: 26.221 median: 26.047 low: -8.303 |
|
| Operating Cash Flow Ratio | 0.121 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 11.69 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 5.92 % | |
| Revenue Growth | 0.084 % | |
| Revenue Growth QoQ | -105.945 % | |
| Revenue Growth YoY | -99.632 % | |
| Revenue Growth IPRWA | high: 15.386 % median: 6.33 % mean: 4.39 % INOD: 0.084 % low: -11.52 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 39.428 % | |
| Gross Margin QoQ | -1.066 % | |
| Gross Margin YoY | 37.26 % | |
| Gross Margin IPRWA | high: 68.47 % INOD: 39.428 % median: 32.867 % mean: 31.278 % low: 3.216 % |
|
| EBIT Margin | 15.26 % | |
| EBIT Margin QoQ | 7.632 % | |
| EBIT Margin YoY | 1400.492 % | |
| EBIT Margin IPRWA | high: 40.753 % median: 16.705 % INOD: 15.26 % mean: 15.202 % low: -4.292 % |
|
| Return On Sales (ROS) | 15.26 % | |
| Return On Sales QoQ | 7.632 % | |
| Return On Sales YoY | 1400.492 % | |
| Return On Sales IPRWA | high: 19.395 % median: 16.057 % INOD: 15.26 % mean: 14.662 % low: -5.114 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 2.5 M | |
| Free Cash Flow Yield | 0.185 % | |
| Free Cash Flow Yield QoQ | -72.914 % | |
| Free Cash Flow Yield YoY | -125.342 % | |
| Free Cash Flow Yield IPRWA | high: 5.432 % median: 1.788 % mean: 1.197 % INOD: 0.185 % low: -8.336 % |
|
| Free Cash Growth | -70.33 % | |
| Free Cash Growth QoQ | 61.156 % | |
| Free Cash Growth YoY | -55.662 % | |
| Free Cash Growth IPRWA | high: 428.407 % median: 20.62 % mean: 13.408 % INOD: -70.33 % low: -467.291 % |
|
| Free Cash To Net Income | 0.35 | |
| Cash Flow Margin | 7.302 % | |
| Cash Flow To Earnings | 0.591 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 5.6 % | |
| Return On Assets QoQ | -14.189 % | |
| Return On Assets YoY | -25554.545 % | |
| Return On Assets IPRWA | high: 8.172 % INOD: 5.6 % median: 2.924 % mean: 2.559 % low: -6.078 % |
|
| Return On Capital Employed (ROCE) | 9.139 % | |
| Return On Equity (ROE) | 0.083 | |
| Return On Equity QoQ | -19.31 % | |
| Return On Equity YoY | -17441.667 % | |
| Return On Equity IPRWA | high: 0.157 INOD: 0.083 median: 0.062 mean: 0.056 low: -0.139 |
|
| DuPont ROE | 8.901 % | |
| Return On Invested Capital (ROIC) | 7.818 % | |
| Return On Invested Capital QoQ | -23.051 % | |
| Return On Invested Capital YoY | -569.268 % | |
| Return On Invested Capital IPRWA | high: 7.923 % INOD: 7.818 % mean: 4.407 % median: 4.105 % low: -7.46 % |
|