Recent News
On June 26, the company announced conference-call timing for second-quarter results to be released July 24 and discussed on a July 25 webcast; on July 16 the Board declared a quarterly cash dividend of $0.11 per share payable September 5, 2025; on August 7 the company confirmed management participation at Seaport Research (Aug. 19) and Jefferies Industrials (Sept. 4).
Technical Analysis
ADX / DI+/DI-: ADX at 31.19 indicates a strong underlying trend. DI+ at 32.82 shows a peak & reversal, which signals a bearish reversal in directional momentum; DI- at 14.52 also shows a peak & reversal, which signals bullish directional momentum. The combination produces an opposing directional read: trend strength supports directional moves, but recent peak-and-reverse readings point toward near-term struggle to sustain further upside.
MACD: MACD sits at 1.46 with the signal line at 1.29, so MACD currently trades above its signal line, a bullish crossing. The MACD trend shows a peak & reversal, which signals developing bearish momentum despite the current above-signal position; momentum therefore risks rolling back toward the signal line over the near term.
MRO: MRO reads 25.67 and shows a dip & reversal. A positive MRO indicates price sits above the modeled target and faces potential downward pressure, while the dip & reversal pattern signals a recovery in the oscillator that may partially offset immediate downside pressure.
RSI: RSI at 57.77 displays a peak & reversal, a bearish signal that aligns with MACD’s developing negative momentum and with MRO’s above-target status; momentum oscillators therefore bias toward pullback or consolidation rather than extension of a sharp move higher.
Price vs. Moving Averages, Ichimoku, Bollinger: Price closed at $63.27, marginally above the 20‑day average ($63.13) and below the 200‑day average ($65.25). Price crosses above the -1x standard-deviation Bollinger band, indicating recent upside reclaiming of near-term support. The Chikou span sits above the Ichimoku cloud while Tenkan/Kijun levels cluster near $63, signaling longer-horizon bullish structure but near-term reversion risk as shorter EMAs show peak & reversal.
Fundamental Analysis
Top-line and margins: Total revenue for the period reached $528,900,000 with YoY revenue growth of 5.02% and QoQ revenue change of -248.62% (reported QoQ figure). Reported EBIT equals $72,700,000 and EBITDA equals $94,700,000. Operating margin measures 14.94% and EBIT margin equals 13.75% YoY improvement of 50.30%, while EBIT margin QoQ shows a -141.70% change. EBIT margin at 13.75% sits below the industry peer mean of 23.42% and the industry peer median of 28.41%, and above the industry peer low of -4.45%.
Profitability and cash flow: Gross margin equals 25.88% and reported net income equals $45,400,000. Operating cash flow reached $62,900,000 with free cash flow of $33,800,000 and a free cash flow yield of 1.77%; free cash flow rose YoY by 55.91%. Cash conversion cycle stands at 111.5 days, above the industry peer mean of 33.52 days and below the industry peer high of 143.48 days, signaling working-capital intensity relative to many peers.
Leverage and liquidity: Total debt equals $983,300,000 with net debt of $669,500,000. Debt-to-EBITDA measures 10.38x and debt-to-assets equals 28.46%. Interest coverage reads 5.35x. Current ratio equals 1.95 and quick ratio equals 1.35; cash and short-term investments total $319,900,000. High debt-to-EBITDA elevates leverage sensitivity despite adequate near-term liquidity.
Capital allocation and shareholder returns: Dividend payout ratio equals 7.49% with a $0.11 per-share quarterly cash dividend declared; dividend yield measures 0.18%. Retained earnings total $2,408,900,000 and capital expenditures ran -$29,100,000, consistent with moderate reinvestment.
Valuation: Forward EPS equals $1.7025 producing a forward P/E of 34.23. Enterprise value equals $2,575,386,037 with an enterprise multiple near 27.20. WMDST values the stock as under-valued given the combination of improving sequential operating income, positive free cash flow conversion, and near-term momentum that may revert toward fundamentals.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-24 |
| NEXT REPORT DATE: | 2025-10-23 |
| CASH FLOW | Begin Period Cash Flow | $ 306.6 M |
| Operating Cash Flow | $ 62.9 M | |
| Capital Expenditures | $ -29.10 M | |
| Change In Working Capital | $ -14.90 M | |
| Dividends Paid | $ -3.40 M | |
| Cash Flow Delta | $ 7.2 M | |
| End Period Cash Flow | $ 313.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 528.9 M | |
| Forward Revenue | $ 157.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 392.0 M | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | $ 5.7 M | |
| Total Operating Expenses | $ 449.9 M | |
| PROFITABILITY | ||
| Gross Profit | $ 136.9 M | |
| EBITDA | $ 94.7 M | |
| EBIT | $ 72.7 M | |
| Operating Income | $ 79.0 M | |
| Interest Income | — | |
| Interest Expense | $ 13.6 M | |
| Net Interest Income | $ -13.60 M | |
| Income Before Tax | $ 59.1 M | |
| Tax Provision | $ 13.9 M | |
| Tax Rate | 23.519 % | |
| Net Income | $ 45.4 M | |
| Net Income From Continuing Operations | $ 46.3 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 1.70 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.5 B | |
| Intangible Assets | $ 1.1 B | |
| Net Tangible Assets | $ 523.6 M | |
| Total Current Assets | $ 1.2 B | |
| Cash and Short-Term Investments | $ 319.9 M | |
| Cash | $ 313.8 M | |
| Net Receivables | $ 425.9 M | |
| Inventory | $ 359.6 M | |
| Long-Term Investments | $ 129.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 198.0 M | |
| Short-Term Debt | $ 24.3 M | |
| Total Current Liabilities | $ 602.8 M | |
| Net Debt | $ 669.5 M | |
| Total Debt | $ 983.3 M | |
| Total Liabilities | $ 1.8 B | |
| EQUITY | ||
| Total Equity | $ 1.7 B | |
| Retained Earnings | $ 2.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 51.98 | |
| Shares Outstanding | 31.820 M | |
| Revenue Per-Share | $ 16.62 | |
| VALUATION | Market Capitalization | $ 1.9 B |
| Enterprise Value | $ 2.6 B | |
| Enterprise Multiple | 27.195 | |
| Enterprise Multiple QoQ | -237.026 % | |
| Enterprise Multiple YoY | -17.221 % | |
| Enterprise Multiple IPRWA | high: 123.612 median: 72.016 mean: 63.434 MTX: 27.195 low: -27.186 |
|
| EV/R | 4.869 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.089 | |
| Asset To Liability | 1.955 | |
| Debt To Capital | 0.373 | |
| Debt To Assets | 0.285 | |
| Debt To Assets QoQ | -1.862 % | |
| Debt To Assets YoY | 916.5 % | |
| Debt To Assets IPRWA | high: 0.671 mean: 0.359 median: 0.301 MTX: 0.285 low: 0.006 |
|
| Debt To Equity | 0.595 | |
| Debt To Equity QoQ | -3.676 % | |
| Debt To Equity YoY | 954.826 % | |
| Debt To Equity IPRWA | high: 4.382 mean: 1.212 median: 0.673 MTX: 0.595 low: -2.382 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.156 | |
| Price To Book QoQ | -11.031 % | |
| Price To Book YoY | -27.127 % | |
| Price To Book IPRWA | high: 5.724 median: 5.724 mean: 4.411 MTX: 1.156 low: -2.623 |
|
| 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) | 3.615 | |
| Price To Sales QoQ | -14.384 % | |
| Price To Sales YoY | -25.818 % | |
| Price To Sales IPRWA | high: 25.954 median: 21.249 mean: 17.748 MTX: 3.615 low: 1.202 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 34.232 | |
| Forward PE/G | — | |
| Forward P/S | 12.118 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -19.201 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.154 | |
| Asset Turnover Ratio QoQ | 6.591 % | |
| Asset Turnover Ratio YoY | -4.706 % | |
| Asset Turnover Ratio IPRWA | high: 0.48 MTX: 0.154 mean: 0.145 median: 0.101 low: 0.002 |
|
| Receivables Turnover | 1.272 | |
| Receivables Turnover Ratio QoQ | 2.282 % | |
| Receivables Turnover Ratio YoY | -5.845 % | |
| Receivables Turnover Ratio IPRWA | high: 3.294 mean: 1.773 median: 1.669 MTX: 1.272 low: 0.464 |
|
| Inventory Turnover | 1.101 | |
| Inventory Turnover Ratio QoQ | 2.731 % | |
| Inventory Turnover Ratio YoY | -8.692 % | |
| Inventory Turnover Ratio IPRWA | high: 3.403 median: 2.097 mean: 1.852 MTX: 1.101 low: 0.577 |
|
| Days Sales Outstanding (DSO) | 71.754 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 111.495 | |
| Cash Conversion Cycle Days QoQ | 0.284 % | |
| Cash Conversion Cycle Days YoY | 11.944 % | |
| Cash Conversion Cycle Days IPRWA | high: 143.481 MTX: 111.495 median: 44.435 mean: 33.523 low: -58.861 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.928 | |
| CapEx To Revenue | -0.055 | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.6 B | |
| Net Invested Capital | $ 2.6 B | |
| Invested Capital | $ 2.6 B | |
| Net Tangible Assets | $ 523.6 M | |
| Net Working Capital | $ 570.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.531 | |
| Current Ratio | 1.946 | |
| Current Ratio QoQ | 2.725 % | |
| Current Ratio YoY | -20.765 % | |
| Current Ratio IPRWA | high: 3.224 MTX: 1.946 mean: 1.177 median: 0.926 low: 0.717 |
|
| Quick Ratio | 1.349 | |
| Quick Ratio QoQ | 3.266 % | |
| Quick Ratio YoY | -21.628 % | |
| Quick Ratio IPRWA | high: 2.843 MTX: 1.349 mean: 0.904 median: 0.782 low: 0.442 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 10.383 | |
| Cost Of Debt | 1.056 % | |
| Interest Coverage Ratio | 5.346 | |
| Interest Coverage Ratio QoQ | -146.828 % | |
| Interest Coverage Ratio YoY | 60.908 % | |
| Interest Coverage Ratio IPRWA | high: 36.015 mean: 21.538 median: 15.508 MTX: 5.346 low: -7.177 |
|
| Operating Cash Flow Ratio | 0.044 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 47.55 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 13.353 | |
| Dividend Payout Ratio | 0.075 | |
| Dividend Rate | $ 0.11 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.576 % | |
| Revenue Growth | 7.544 % | |
| Revenue Growth QoQ | -248.621 % | |
| Revenue Growth YoY | 501.595 % | |
| Revenue Growth IPRWA | high: 41.002 % mean: 8.933 % MTX: 7.544 % median: 4.721 % low: -26.89 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 25.884 % | |
| Gross Margin QoQ | 6.435 % | |
| Gross Margin YoY | -2.651 % | |
| Gross Margin IPRWA | high: 55.786 % median: 49.311 % mean: 42.394 % MTX: 25.884 % low: 5.77 % |
|
| EBIT Margin | 13.746 % | |
| EBIT Margin QoQ | -141.704 % | |
| EBIT Margin YoY | 50.295 % | |
| EBIT Margin IPRWA | high: 35.397 % median: 28.405 % mean: 23.42 % MTX: 13.746 % low: -4.454 % |
|
| Return On Sales (ROS) | 14.937 % | |
| Return On Sales QoQ | -145.317 % | |
| Return On Sales YoY | 63.317 % | |
| Return On Sales IPRWA | high: 34.18 % median: 25.553 % mean: 22.24 % MTX: 14.937 % low: -0.148 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 33.8 M | |
| Free Cash Flow Yield | 1.768 % | |
| Free Cash Flow Yield QoQ | -261.757 % | |
| Free Cash Flow Yield YoY | 55.908 % | |
| Free Cash Flow Yield IPRWA | high: 9.3 % MTX: 1.768 % mean: 0.718 % median: 0.433 % low: -6.232 % |
|
| Free Cash Growth | -248.899 % | |
| Free Cash Growth QoQ | 61.976 % | |
| Free Cash Growth YoY | 932.262 % | |
| Free Cash Growth IPRWA | high: 134.666 % median: 7.071 % mean: -113.181 % MTX: -248.899 % low: -471.845 % |
|
| Free Cash To Net Income | 0.744 | |
| Cash Flow Margin | 4.991 % | |
| Cash Flow To Earnings | 0.582 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.324 % | |
| Return On Assets QoQ | -131.241 % | |
| Return On Assets YoY | 124.788 % | |
| Return On Assets IPRWA | high: 3.22 % mean: 2.102 % median: 2.093 % MTX: 1.324 % low: -1.434 % |
|
| Return On Capital Employed (ROCE) | 2.549 % | |
| Return On Equity (ROE) | 0.027 | |
| Return On Equity QoQ | -130.466 % | |
| Return On Equity YoY | 131.646 % | |
| Return On Equity IPRWA | high: 0.171 mean: 0.066 median: 0.046 MTX: 0.027 low: -0.068 |
|
| DuPont ROE | 2.792 % | |
| Return On Invested Capital (ROIC) | 2.108 % | |
| Return On Invested Capital QoQ | -141.092 % | |
| Return On Invested Capital YoY | -112.005 % | |
| Return On Invested Capital IPRWA | high: 6.532 % mean: 3.31 % median: 2.83 % MTX: 2.108 % low: -1.079 % |
|