Recent News
On July 21, 2025 the company named Daniel Scavilla President and Chief Executive Officer, effective August 1, 2025, while reaffirming its 2025 outlook. On August 7, 2025 the company reported second-quarter results: net sales of $936 million, adjusted EPS of $0.52, an adjusted EBITDA margin of 21.1%, and a $214 million non‑cash goodwill and intangible asset impairment; management maintained full‑year guidance.
Technical Analysis
ADX / DI+/DI-: ADX at 18.29 signals no trend. DI+ shows a dip-and-reversal and DI- shows a peak-and-reversal, both implying bullish directional reversals but lack of trend strength suggests any advance may remain range-bound.
MACD: MACD reads -0.39 with a dip-and-reversal and a signal line at -0.35. The MACD sits below the signal line, indicating momentum improving but not yet confirmed by a bullish cross.
MRO (Momentum/Regression Oscillator): MRO at -27.75 (dip-and-reversal) indicates the price sits below the model target and carries potential to move higher toward that target.
RSI: RSI at 42.19 with a dip-and-reversal shows bullish recovery from lower momentum levels while remaining below neutral, consistent with a retracement rather than a full trend takeover.
Price vs Moving Averages / Bands: Last close $12.95 sits below the 20‑day average ($13.06), the 50‑day average ($13.97) and well below the 200‑day average ($15.72). The 12‑day EMA decreased, which creates short‑term resistance even as oscillators recover. Price sits just above the lower Bollinger band, indicating limited immediate downside buffer but also compressed volatility.
Volatility & Volume: 42‑day beta at 2.02 and higher-than‑average volume suggest above‑normal sensitivity to news; low ADX combined with elevated beta points to choppy moves around headline events.
Fundamental Analysis
Top‑line and Earnings: Second‑quarter net sales reported at $936 million. Adjusted EPS registered $0.52 versus an estimate of $0.50, an EPS surprise of approximately 4.0%. Adjusted EBITDA improved to $197 million, lifting adjusted EBITDA margin to 21.1% and signaling operating leverage in adjusted results.
GAAP Items and Impairment: The company recorded a $214 million net impairment to goodwill and indefinite-lived intangible assets in the quarter, producing a GAAP loss outcome despite positive adjusted operating results; GAAP EBIT in the provided metrics stands at -$129 million while operating income on an adjusted basis reads $110 million.
Margins & Trends: Operating margin reads 11.75% while EBIT margin stands at -13.78%, the latter depressed by the reported impairments. QoQ and YoY movements show deterioration in EBIT margin by -2.92 percentage points QoQ and -3.66 percentage points YoY, reflecting the impact of the non‑cash charges on reported profitability.
Cash Flow & Liquidity: Cash and short‑term investments total $359 million with operating cash flow of $48 million for the quarter and free cash flow of $16 million, producing a free cash flow yield near 0.54%. Net debt measures $2,043 million, and the company’s cash ratio sits at 0.31, indicating modest near‑term liquidity cushion relative to debt levels.
Leverage & Coverage: Debt to assets equals 41.09% and debt to equity approximates 1.27; interest coverage reads negative, reflecting operating losses on a GAAP basis after impairments and elevated interest expense. Dividend policy continues with a quarterly cash dividend of $0.16 per share (annualized yield about 1.03%).
Operational Metrics: Inventory at $675 million and days inventory outstanding near 142 days contribute to a cash conversion cycle above 140 days. Asset turnover of 0.15 and return on equity of -2.30% reflect heavy asset base and the near‑term profitability drag from one‑time charges.
Valuation: WMDST values the stock as under‑valued. Current multiples show a P/E around 29.99 and a price‑to‑book near 1.51, while enterprise value measures and adjusted earnings performance lift relative valuation support despite GAAP impairments and elevated net debt.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-07 |
| NEXT REPORT DATE: | 2025-11-06 |
| CASH FLOW | Begin Period Cash Flow | $ 398.0 M |
| Operating Cash Flow | $ 48.0 M | |
| Capital Expenditures | $ -32.00 M | |
| Change In Working Capital | $ -113.00 M | |
| Dividends Paid | $ -32.00 M | |
| Cash Flow Delta | $ -39.00 M | |
| End Period Cash Flow | $ 359.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 936.0 M | |
| Forward Revenue | $ -518.18 M | |
| COSTS | ||
| Cost Of Revenue | $ 446.0 M | |
| Depreciation | $ 34.0 M | |
| Depreciation and Amortization | $ 88.0 M | |
| Research and Development | $ 37.0 M | |
| Total Operating Expenses | $ 826.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 490.0 M | |
| EBITDA | $ -41.00 M | |
| EBIT | $ -129.00 M | |
| Operating Income | $ 110.0 M | |
| Interest Income | — | |
| Interest Expense | $ 24.0 M | |
| Net Interest Income | $ -24.00 M | |
| Income Before Tax | $ -153.00 M | |
| Tax Provision | $ -109.00 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ -45.00 M | |
| Net Income From Continuing Operations | $ -44.00 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.50 | |
| EPS Actual | $ 0.52 | |
| EPS Difference | $ 0.02 | |
| EPS Surprise | 4.0 % | |
| Forward EPS | $ 0.50 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 6.1 B | |
| Intangible Assets | $ 2.7 B | |
| Net Tangible Assets | $ -701.00 M | |
| Total Current Assets | $ 2.0 B | |
| Cash and Short-Term Investments | $ 359.0 M | |
| Cash | $ 359.0 M | |
| Net Receivables | $ 646.0 M | |
| Inventory | $ 675.0 M | |
| Long-Term Investments | $ 463.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 268.0 M | |
| Short-Term Debt | $ 184.0 M | |
| Total Current Liabilities | $ 1.2 B | |
| Net Debt | $ 2.0 B | |
| Total Debt | $ 2.5 B | |
| Total Liabilities | $ 4.1 B | |
| EQUITY | ||
| Total Equity | $ 2.0 B | |
| Retained Earnings | $ -925.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 9.83 | |
| Shares Outstanding | 199.300 M | |
| Revenue Per-Share | $ 4.70 | |
| VALUATION | Market Capitalization | $ 3.0 B |
| Enterprise Value | $ 5.1 B | |
| Enterprise Multiple | -124.374 | |
| Enterprise Multiple QoQ | -449.828 % | |
| Enterprise Multiple YoY | -410.608 % | |
| Enterprise Multiple IPRWA | high: 123.29 median: 110.415 mean: 94.949 XRAY: -124.374 low: -147.649 |
|
| EV/R | 5.448 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.096 | |
| Asset To Liability | 1.477 | |
| Debt To Capital | 0.56 | |
| Debt To Assets | 0.411 | |
| Debt To Assets QoQ | 2.607 % | |
| Debt To Assets YoY | 682.892 % | |
| Debt To Assets IPRWA | high: 0.843 XRAY: 0.411 mean: 0.298 median: 0.289 low: 0.0 |
|
| Debt To Equity | 1.272 | |
| Debt To Equity QoQ | 5.556 % | |
| Debt To Equity YoY | 976.978 % | |
| Debt To Equity IPRWA | high: 3.369 XRAY: 1.272 mean: 0.628 median: 0.579 low: -0.395 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.512 | |
| Price To Book QoQ | 0.544 % | |
| Price To Book YoY | -14.228 % | |
| Price To Book IPRWA | high: 16.759 median: 6.869 mean: 6.303 XRAY: 1.512 low: -5.981 |
|
| Price To Earnings (P/E) | 29.993 | |
| Price To Earnings QoQ | -14.988 % | |
| Price To Earnings YoY | -44.89 % | |
| Price To Earnings IPRWA | high: 249.6 mean: 136.888 median: 121.658 XRAY: 29.993 low: -167.592 |
|
| PE/G Ratio | 1.433 | |
| Price To Sales (P/S) | 3.167 | |
| Price To Sales QoQ | -7.927 % | |
| Price To Sales YoY | -42.319 % | |
| Price To Sales IPRWA | high: 73.117 mean: 32.529 median: 24.499 XRAY: 3.167 low: 0.6 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 31.105 | |
| Forward PE/G | 1.486 | |
| Forward P/S | -5.721 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -46.997 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.154 | |
| Asset Turnover Ratio QoQ | 3.706 % | |
| Asset Turnover Ratio YoY | 10.045 % | |
| Asset Turnover Ratio IPRWA | high: 0.412 XRAY: 0.154 median: 0.124 mean: 0.121 low: 0.008 |
|
| Receivables Turnover | 1.498 | |
| Receivables Turnover Ratio QoQ | -1.182 % | |
| Receivables Turnover Ratio YoY | -5.106 % | |
| Receivables Turnover Ratio IPRWA | high: 3.133 mean: 1.735 median: 1.672 XRAY: 1.498 low: 0.374 |
|
| Inventory Turnover | 0.693 | |
| Inventory Turnover Ratio QoQ | -1.324 % | |
| Inventory Turnover Ratio YoY | -10.544 % | |
| Inventory Turnover Ratio IPRWA | high: 2.014 XRAY: 0.693 mean: 0.648 median: 0.568 low: 0.084 |
|
| Days Sales Outstanding (DSO) | 60.931 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 143.012 | |
| Cash Conversion Cycle Days QoQ | 13.758 % | |
| Cash Conversion Cycle Days YoY | 14.708 % | |
| Cash Conversion Cycle Days IPRWA | high: 448.876 mean: 171.068 median: 167.784 XRAY: 143.012 low: -175.55 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.17 | |
| CapEx To Revenue | -0.034 | |
| CapEx To Depreciation | -0.941 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 4.2 B | |
| Net Invested Capital | $ 4.4 B | |
| Invested Capital | $ 4.4 B | |
| Net Tangible Assets | $ -701.00 M | |
| Net Working Capital | $ 800.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.308 | |
| Current Ratio | 1.686 | |
| Current Ratio QoQ | 52.841 % | |
| Current Ratio YoY | 26.89 % | |
| Current Ratio IPRWA | high: 19.146 mean: 2.552 median: 1.718 XRAY: 1.686 low: 0.027 |
|
| Quick Ratio | 1.107 | |
| Quick Ratio QoQ | 45.33 % | |
| Quick Ratio YoY | 27.376 % | |
| Quick Ratio IPRWA | high: 12.697 mean: 1.883 median: 1.167 XRAY: 1.107 low: 0.315 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -60.829 | |
| Cost Of Debt | 0.771 % | |
| Interest Coverage Ratio | -5.375 | |
| Interest Coverage Ratio QoQ | -262.103 % | |
| Interest Coverage Ratio YoY | -279.167 % | |
| Interest Coverage Ratio IPRWA | high: 52.298 mean: 15.53 median: 11.456 XRAY: -5.375 low: -88.481 |
|
| Operating Cash Flow Ratio | -0.06 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 60.097 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -1.406 | |
| Dividend Payout Ratio | -0.711 | |
| Dividend Rate | $ 0.16 | |
| Dividend Yield | 0.01 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.314 % | |
| Revenue Growth | 6.485 % | |
| Revenue Growth QoQ | -325.722 % | |
| Revenue Growth YoY | 99.354 % | |
| Revenue Growth IPRWA | high: 26.158 % median: 8.281 % XRAY: 6.485 % mean: 6.315 % low: -39.052 % |
|
| Earnings Growth | 20.93 % | |
| Earnings Growth QoQ | -67.99 % | |
| Earnings Growth YoY | 25.577 % | |
| Earnings Growth IPRWA | high: 166.667 % XRAY: 20.93 % mean: 11.27 % median: 9.851 % low: -180.612 % |
|
| MARGINS | ||
| Gross Margin | 52.35 % | |
| Gross Margin QoQ | -1.254 % | |
| Gross Margin YoY | 0.807 % | |
| Gross Margin IPRWA | high: 91.006 % median: 63.683 % mean: 62.219 % XRAY: 52.35 % low: -7.085 % |
|
| EBIT Margin | -13.782 % | |
| EBIT Margin QoQ | -292.298 % | |
| EBIT Margin YoY | -365.908 % | |
| EBIT Margin IPRWA | high: 33.709 % mean: 18.57 % median: 17.478 % XRAY: -13.782 % low: -200.872 % |
|
| Return On Sales (ROS) | 11.752 % | |
| Return On Sales QoQ | 63.974 % | |
| Return On Sales YoY | 126.741 % | |
| Return On Sales IPRWA | high: 39.857 % mean: 18.891 % median: 18.374 % XRAY: 11.752 % low: -215.416 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 16.0 M | |
| Free Cash Flow Yield | 0.54 % | |
| Free Cash Flow Yield QoQ | -236.02 % | |
| Free Cash Flow Yield YoY | -81.295 % | |
| Free Cash Flow Yield IPRWA | high: 4.685 % median: 0.712 % mean: 0.676 % XRAY: 0.54 % low: -19.501 % |
|
| Free Cash Growth | -233.333 % | |
| Free Cash Growth QoQ | 75.0 % | |
| Free Cash Growth YoY | -87.273 % | |
| Free Cash Growth IPRWA | high: 310.383 % mean: 86.83 % median: 14.619 % XRAY: -233.333 % low: -376.098 % |
|
| Free Cash To Net Income | -0.356 | |
| Cash Flow Margin | -7.479 % | |
| Cash Flow To Earnings | 1.556 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -0.743 % | |
| Return On Assets QoQ | -319.174 % | |
| Return On Assets YoY | 1203.509 % | |
| Return On Assets IPRWA | high: 16.404 % mean: 1.749 % median: 1.686 % XRAY: -0.743 % low: -35.697 % |
|
| Return On Capital Employed (ROCE) | -2.631 % | |
| Return On Equity (ROE) | -0.023 | |
| Return On Equity QoQ | -330.754 % | |
| Return On Equity YoY | 1652.672 % | |
| Return On Equity IPRWA | high: 0.175 median: 0.032 mean: 0.029 XRAY: -0.023 low: -0.524 |
|
| DuPont ROE | -2.267 % | |
| Return On Invested Capital (ROIC) | -2.336 % | |
| Return On Invested Capital QoQ | -304.017 % | |
| Return On Invested Capital YoY | -104.812 % | |
| Return On Invested Capital IPRWA | high: 5.672 % median: 2.571 % mean: 2.237 % XRAY: -2.336 % low: -19.888 % |
|