Recent News
On July 21, 2025 the company declared a quarterly cash dividend of $0.16 per common share and scheduled a conference call to discuss second-quarter results; management previously announced the Q2 release date and call details on July 1, 2025.
Technical Analysis
Directional indicators present conflicting impulses: ADX at 23.05 indicates an emerging trend rather than a strong directional move, while DI+ at 27.19 (peak & reversal) and DI– at 22.50 (dip & reversal) together signal increasing bearish directional pressure that could restrain near-term upside.
MACD sits at 0.44 below the signal line at 0.47 and shows a peak & reversal; momentum therefore reads as bearish and fails to confirm upside implied by valuation metrics, reducing the likelihood of sustained advance until MACD re-crosses above its signal line.
MRO at 27.75 registers positive and displays a dip & reversal; positive MRO implies price currently sits above target and may face pullback, while the dip & reversal indicates momentum recently shifted toward higher MRO values, which tempers the immediate downside pressure.
RSI at 61.42 with a peak & reversal signals waning upside momentum after a recent push; that pattern supports a consolidation-biased near-term outlook rather than a fresh breakout.
Price sits at $19.99 above the 200-day average of $18.29 and above the 50-day average of $18.82, giving longer-term trend support; the 12-day EMA at $19.98 shows a recent peak & reversal, aligning with shorter-term momentum cooling. Ichimoku components place the Chikou span above the cloud, which maintains a constructive backdrop despite shorter-term softening.
Bollinger bands place the 1x lower band at $19.48 and the 1x upper band at $20.51; the price recently experienced a dip & reversal below the lower 2x band and has recovered toward the middle band, implying a recent oversold reversal that might limit immediate downside but does not yet confirm a sustained rally.
Fundamental Analysis
Net income totaled $9.33 million for the quarter ended June 30, 2025; management reported an Employee Retention Credit of $5.2 million included in other income, and the board declared a quarterly dividend of $0.16 per common share payable in August 2025. Book value per share rose to $29.25 at quarter end.
Revenue behavior shows mixed signals: recorded revenue growth at 25.84%, while YoY revenue growth reads –10.17%; sequential dynamics show a sharp QoQ revenue decline of –30.91%, which merits attention for near-term top-line momentum.
Profitability measures remain modest: return on assets equals 0.23% and return on equity equals 1.80%; both improved QoQ (ROA up ~303.51% QoQ, ROE up ~301.56% QoQ) and rose YoY (ROA +22.99% YoY, ROE +27.24% YoY), indicating recovery versus recent quarters but still below industry peer mean levels for ROA (0.288%) and ROE (2.716%).
Capital structure shows conservative leverage: debt-to-assets at 8.37% and debt-to-equity at 66.13%; debt-to-assets increased ~3.78 percentage points QoQ and expanded materially YoY, reflecting balance-sheet adjustments while total assets stand at $4.09 billion and total equity at $517.58 million.
Valuation metrics show an asymmetry supportive of WMDST’s view: price-to-book at 0.64 sits below the industry peer mean of 1.26 and below the industry peer median of 1.19 while remaining above the industry peer low of 0.29. Price-to-sales at 9.18 falls below the industry peer mean of 13.27 and the median of 12.55. Forward P/E at 39.2 remains below the industry peer mean of 46.01. Free cash flow yield equals 6.56%, well above the industry peer mean of 2.46% and up roughly 159.9% QoQ and 88.1% YoY, reinforcing cash-generation strength relative to peers.
WMDST values the stock as under-valued based on the combination of book value growth, elevated free cash flow yield, and forward multiple compression versus the industry peer mean and median; enterprise value stands at $670,992,182 with market capitalization at $328,713,182 and net debt of $122,533,000, offering additional context for valuation comparisons.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-28 |
| NEXT REPORT DATE: | 2025-10-27 |
| CASH FLOW | Begin Period Cash Flow | $ 238.8 M |
| Operating Cash Flow | $ 21.7 M | |
| Capital Expenditures | $ -98.00 K | |
| Change In Working Capital | $ -1.65 M | |
| Dividends Paid | $ -2.85 M | |
| Cash Flow Delta | $ -46.97 M | |
| End Period Cash Flow | $ 191.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 35.8 M | |
| Forward Revenue | $ 7.3 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 1.7 M | |
| Depreciation and Amortization | $ 2.2 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 53.9 M | |
| Interest Expense | $ 26.9 M | |
| Net Interest Income | $ 27.0 M | |
| Income Before Tax | $ 12.9 M | |
| Tax Provision | $ 3.6 M | |
| Tax Rate | 27.83 % | |
| Net Income | $ 9.3 M | |
| Net Income From Continuing Operations | $ 9.3 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.43 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 4.1 B | |
| Intangible Assets | $ 73.2 M | |
| Net Tangible Assets | $ 444.4 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 192.5 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | $ 122.5 M | |
| Total Debt | $ 342.3 M | |
| Total Liabilities | $ 3.6 B | |
| EQUITY | ||
| Total Equity | $ 517.6 M | |
| Retained Earnings | $ 270.2 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 29.24 | |
| Shares Outstanding | 17.699 M | |
| Revenue Per-Share | $ 2.02 | |
| VALUATION | Market Capitalization | $ 328.7 M |
| Enterprise Value | $ 671.0 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 18.737 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 7.902 | |
| Asset To Liability | 1.145 | |
| Debt To Capital | 0.398 | |
| Debt To Assets | 0.084 | |
| Debt To Assets QoQ | 3.782 % | |
| Debt To Assets YoY | 13398.387 % | |
| Debt To Assets IPRWA | high: 0.165 RBB: 0.084 median: 0.06 mean: 0.06 low: 0.001 |
|
| Debt To Equity | 0.661 | |
| Debt To Equity QoQ | 4.362 % | |
| Debt To Equity YoY | 14091.202 % | |
| Debt To Equity IPRWA | high: 1.774 RBB: 0.661 mean: 0.602 median: 0.55 low: -0.158 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.635 | |
| Price To Book QoQ | 7.712 % | |
| Price To Book YoY | -1.762 % | |
| Price To Book IPRWA | high: 2.06 mean: 1.26 median: 1.192 RBB: 0.635 low: 0.291 |
|
| 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) | 9.179 | |
| Price To Sales QoQ | -13.176 % | |
| Price To Sales YoY | -23.755 % | |
| Price To Sales IPRWA | high: 24.824 mean: 13.272 median: 12.551 RBB: 9.179 low: 0.128 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 39.195 | |
| Forward PE/G | — | |
| Forward P/S | 45.288 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.009 | |
| Asset Turnover Ratio QoQ | 24.332 % | |
| Asset Turnover Ratio YoY | 24.683 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 mean: 0.01 median: 0.01 RBB: 0.009 low: 0.003 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| 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 | — | |
| CapEx To Revenue | -0.003 | |
| CapEx To Depreciation | -0.056 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 832.6 M | |
| Net Invested Capital | $ 832.6 M | |
| Invested Capital | $ 832.6 M | |
| Net Tangible Assets | $ 444.4 M | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 5.827 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 3.27 | |
| Dividend Payout Ratio | 0.306 | |
| Dividend Rate | $ 0.16 | |
| Dividend Yield | 0.009 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.011 % | |
| Revenue Growth | 25.842 % | |
| Revenue Growth QoQ | -3090.972 % | |
| Revenue Growth YoY | -1017.033 % | |
| Revenue Growth IPRWA | RBB: 25.842 % high: 19.743 % mean: 3.958 % median: 3.469 % low: -10.94 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 21.6 M | |
| Free Cash Flow Yield | 6.559 % | |
| Free Cash Flow Yield QoQ | 159.865 % | |
| Free Cash Flow Yield YoY | 88.099 % | |
| Free Cash Flow Yield IPRWA | high: 8.216 % RBB: 6.559 % mean: 2.456 % median: 2.071 % low: -4.244 % |
|
| Free Cash Growth | 183.933 % | |
| Free Cash Growth QoQ | -428.687 % | |
| Free Cash Growth YoY | 26.702 % | |
| Free Cash Growth IPRWA | high: 457.53 % RBB: 183.933 % median: 1.088 % mean: -28.777 % low: -480.617 % |
|
| Free Cash To Net Income | 2.31 | |
| Cash Flow Margin | 32.296 % | |
| Cash Flow To Earnings | 1.239 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.23 % | |
| Return On Assets QoQ | 303.509 % | |
| Return On Assets YoY | 22.995 % | |
| Return On Assets IPRWA | high: 0.612 % mean: 0.288 % median: 0.279 % RBB: 0.23 % low: -0.094 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.018 | |
| Return On Equity QoQ | 301.559 % | |
| Return On Equity YoY | 27.241 % | |
| Return On Equity IPRWA | high: 0.044 median: 0.028 mean: 0.027 RBB: 0.018 low: -0.015 |
|
| DuPont ROE | 1.815 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |