Recent News
On September 15, 2025 the company’s board declared a quarterly dividend of $0.45 per common share payable October 15, 2025 to holders of record September 30, 2025. On October 9, 2025 the company announced that third-quarter results for the period ended September 30, 2025 will release October 30, 2025 after market close with a management webcast scheduled October 31, 2025.
Technical Analysis
Directional indicators show a shift away from bullish internals despite low trend strength: the ADX at 16.34 signals no established trend, while DI+ at 23.73 has peaked and reversed (bearish) and DI- at 22.85 has dipped and reversed (bearish), implying a bias toward downward directional pressure without confirmed trend momentum; this suggests potential sideways-to-lower price action rather than a sustained trend.
MACD sits at 0.11 with a peak-and-reversal trend, which signifies weakening bullish momentum, yet MACD currently sits above its signal line (-0.01), creating a near-term bullish crossover signal; the coexistence implies short-lived bullish impulses inside a broader loss of momentum that traders should treat as contested.
The MRO registers -22.31 (negative), indicating the market price sits below the WMDST target and carries upward reversion potential; that signal supports valuation-driven upside pressure while technical momentum fails to align decisively.
RSI at 49.66 with a peak-and-reversal trend places momentum near neutral but tilting away from prior strength, consistent with a consolidation bias rather than clear breakout risk.
Price sits below major averages: close at $90.74 compares to the 20-day average $91.67, 50-day average $92.57 and 200-day average $93.79, while the 12-day EMA shows a peak-and-reversal; Ichimoku lines (Tenkan/Kijun both $92.14, cloud roughly $93.25/$91.42) place the market price beneath short-term conversion lines and beneath the cloud—technical alignment favors resistance above current price and limited near-term upside without a momentum shift.
Bollinger bands enclose price between $88.15 (lower) and $95.20 (upper), indicating present volatility remains contained; volume at 173,099 tracks below 10/50/200-day averages, which weakens breakout conviction and signals lower participation during recent moves.
Fundamental Analysis
Top-line and margins: total revenue stands at $2,037,621,000 and reported revenue growth reads 3.73%. YoY revenue growth shows -82.29% (reported value), and QoQ movement shows -168.82% (reported), both provided in the record; gross margin registers 13.05% while operating margin measures 8.18% and EBIT margin 8.22%. Each margin sits below the industry peer mean (gross margin mean 39.58%, operating margin mean 36.41%, EBIT margin mean 39.41%), indicating compressed profitability relative to peers.
Earnings and cash flow: reported EPS came in at $1.34 versus an estimate of $1.23, an EPS beat of $0.11 representing an 8.94% surprise. Operating cash flow tallied $246,680,000 with free cash flow $161,725,000; free cash flow yield equals 2.15%, above the industry peer mean of 0.76%, and free cash flow year-over-year improvement reads 108.63% (reported), supporting cash-based valuation arguments despite margin pressure.
Balance sheet and leverage: total debt equals $3,021,171,000 with net debt $2,421,911,000 and debt-to-EBITDA about 9.33x; interest coverage sits at 4.54x, below the industry peer mean of 8.76x, reflecting tighter coverage. Debt-to-assets at 41.91% marginally exceeds the peer mean of 37.42%, while debt-to-equity at 1.13x sits slightly below the peer mean 1.25x. These figures portray meaningful leverage with manageable short-term coverage but limited margin for stress.
Returns and efficiency: return on equity registers 3.67% (below industry peer mean 6.89%), return on assets 1.37% (below peer mean 2.27%), and asset turnover 0.284 (above the peer mean 0.093), showing operational throughput but low profit conversion. Cash conversion cycle near 7.7 days sits above the industry peer mean of about -1.6 days, indicating slower net cash conversion relative to peers.
Valuation: price-to-earnings at 67.08x compares below the industry peer mean of 76.79x; price-to-book stands at 2.81x versus a peer mean about 5.06x; forward P/E measures 41.46x. WMDST values the stock as under-valued based on cash-flow yield and adjusted enterprise metrics, yet current profitability and leverage constrain valuation upside until margin expansion or deleveraging materializes.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-28 |
| NEXT REPORT DATE: | 2025-10-22 |
| CASH FLOW | Begin Period Cash Flow | $ 16.4 M |
| Operating Cash Flow | $ 246.7 M | |
| Capital Expenditures | $ -84.95 M | |
| Change In Working Capital | $ 35.6 M | |
| Dividends Paid | $ -38.81 M | |
| Cash Flow Delta | $ 11.5 M | |
| End Period Cash Flow | $ 27.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.0 B | |
| Forward Revenue | $ 927.2 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.8 B | |
| Depreciation | $ 134.5 M | |
| Depreciation and Amortization | $ 156.4 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.9 B | |
| PROFITABILITY | ||
| Gross Profit | $ 266.0 M | |
| EBITDA | $ 323.8 M | |
| EBIT | $ 167.4 M | |
| Operating Income | $ 166.6 M | |
| Interest Income | $ 305.0 K | |
| Interest Expense | $ 36.9 M | |
| Net Interest Income | $ -40.30 M | |
| Income Before Tax | $ 130.5 M | |
| Tax Provision | $ 32.4 M | |
| Tax Rate | 24.8 % | |
| Net Income | $ 98.2 M | |
| Net Income From Continuing Operations | $ 98.2 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.23 | |
| EPS Actual | $ 1.34 | |
| EPS Difference | $ 0.11 | |
| EPS Surprise | 8.943 % | |
| Forward EPS | $ 2.15 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 7.2 B | |
| Intangible Assets | $ 2.7 B | |
| Net Tangible Assets | $ -3.08 M | |
| Total Current Assets | $ 1.1 B | |
| Cash and Short-Term Investments | $ 27.9 M | |
| Cash | $ 27.9 M | |
| Net Receivables | $ 931.8 M | |
| Inventory | $ 17.4 M | |
| Long-Term Investments | $ 21.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 682.6 M | |
| Short-Term Debt | $ 86.4 M | |
| Total Current Liabilities | $ 1.0 B | |
| Net Debt | $ 2.4 B | |
| Total Debt | $ 3.0 B | |
| Total Liabilities | $ 4.5 B | |
| EQUITY | ||
| Total Equity | $ 2.7 B | |
| Retained Earnings | $ 1.8 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 32.25 | |
| Shares Outstanding | 83.022 M | |
| Revenue Per-Share | $ 24.54 | |
| VALUATION | Market Capitalization | $ 7.5 B |
| Enterprise Value | $ 10.5 B | |
| Enterprise Multiple | 32.457 | |
| Enterprise Multiple QoQ | -21.928 % | |
| Enterprise Multiple YoY | -10.214 % | |
| Enterprise Multiple IPRWA | high: 74.098 median: 49.365 mean: 47.713 TFII: 32.457 low: 24.259 |
|
| EV/R | 5.158 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.692 | |
| Asset To Liability | 1.591 | |
| Debt To Capital | 0.53 | |
| Debt To Assets | 0.419 | |
| Debt To Assets QoQ | 0.932 % | |
| Debt To Assets YoY | 345.714 % | |
| Debt To Assets IPRWA | high: 0.665 TFII: 0.419 median: 0.393 mean: 0.374 low: 0.0 |
|
| Debt To Equity | 1.128 | |
| Debt To Equity QoQ | 0.473 % | |
| Debt To Equity YoY | 323.651 % | |
| Debt To Equity IPRWA | high: 2.089 mean: 1.251 median: 1.174 TFII: 1.128 low: 0.0 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.808 | |
| Price To Book QoQ | -7.308 % | |
| Price To Book YoY | -39.511 % | |
| Price To Book IPRWA | high: 8.157 mean: 5.064 median: 5.06 TFII: 2.808 low: 0.999 |
|
| Price To Earnings (P/E) | 67.076 | |
| Price To Earnings QoQ | -46.289 % | |
| Price To Earnings YoY | -19.995 % | |
| Price To Earnings IPRWA | high: 148.709 mean: 76.787 median: 72.327 TFII: 67.076 low: 52.242 |
|
| PE/G Ratio | 0.879 | |
| Price To Sales (P/S) | 3.689 | |
| Price To Sales QoQ | -9.065 % | |
| Price To Sales YoY | -31.54 % | |
| Price To Sales IPRWA | high: 23.472 median: 19.358 mean: 18.749 TFII: 3.689 low: 2.095 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 41.463 | |
| Forward PE/G | 0.543 | |
| Forward P/S | 8.108 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 13.601 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.284 | |
| Asset Turnover Ratio QoQ | 3.267 % | |
| Asset Turnover Ratio YoY | -9.878 % | |
| Asset Turnover Ratio IPRWA | high: 0.305 TFII: 0.284 mean: 0.093 median: 0.083 low: 0.043 |
|
| Receivables Turnover | 2.158 | |
| Receivables Turnover Ratio QoQ | 1.634 % | |
| Receivables Turnover Ratio YoY | -3.721 % | |
| Receivables Turnover Ratio IPRWA | high: 3.67 median: 3.172 mean: 3.042 TFII: 2.158 low: 1.461 |
|
| Inventory Turnover | 102.491 | |
| Inventory Turnover Ratio QoQ | 3.061 % | |
| Inventory Turnover Ratio YoY | 29.221 % | |
| Inventory Turnover Ratio IPRWA | TFII: 102.491 high: 6.399 mean: 4.734 median: 4.352 low: 0.82 |
|
| Days Sales Outstanding (DSO) | 42.281 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 7.689 | |
| Cash Conversion Cycle Days QoQ | -46.194 % | |
| Cash Conversion Cycle Days YoY | 189.305 % | |
| Cash Conversion Cycle Days IPRWA | high: 107.173 TFII: 7.689 mean: -1.597 median: -7.03 low: -31.38 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 40.837 | |
| CapEx To Revenue | -0.042 | |
| CapEx To Depreciation | -0.632 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 5.0 B | |
| Net Invested Capital | $ 5.1 B | |
| Invested Capital | $ 5.1 B | |
| Net Tangible Assets | $ -3.08 M | |
| Net Working Capital | $ 49.9 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.027 | |
| Current Ratio | 1.048 | |
| Current Ratio QoQ | 1.418 % | |
| Current Ratio YoY | 11.808 % | |
| Current Ratio IPRWA | high: 2.301 TFII: 1.048 mean: 0.84 median: 0.793 low: 0.648 |
|
| Quick Ratio | 1.031 | |
| Quick Ratio QoQ | 1.404 % | |
| Quick Ratio YoY | 12.311 % | |
| Quick Ratio IPRWA | high: 1.356 TFII: 1.031 mean: 0.638 median: 0.632 low: 0.528 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 9.329 | |
| Cost Of Debt | 0.928 % | |
| Interest Coverage Ratio | 4.539 | |
| Interest Coverage Ratio QoQ | 50.195 % | |
| Interest Coverage Ratio YoY | -4.2 % | |
| Interest Coverage Ratio IPRWA | high: 455.2 mean: 8.759 median: 7.904 TFII: 4.539 low: 1.384 |
|
| Operating Cash Flow Ratio | 0.275 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 35.495 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.529 | |
| Dividend Payout Ratio | 0.395 | |
| Dividend Rate | $ 0.47 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.3 % | |
| Revenue Growth | 3.728 % | |
| Revenue Growth QoQ | -168.82 % | |
| Revenue Growth YoY | -82.286 % | |
| Revenue Growth IPRWA | high: 12.437 % TFII: 3.728 % median: 2.107 % mean: 1.219 % low: -13.529 % |
|
| Earnings Growth | 76.316 % | |
| Earnings Growth QoQ | -311.203 % | |
| Earnings Growth YoY | 101.346 % | |
| Earnings Growth IPRWA | high: 80.0 % TFII: 76.316 % median: 16.667 % mean: 14.464 % low: -34.483 % |
|
| MARGINS | ||
| Gross Margin | 13.052 % | |
| Gross Margin QoQ | 18.343 % | |
| Gross Margin YoY | -9.631 % | |
| Gross Margin IPRWA | high: 46.214 % median: 39.711 % mean: 39.578 % low: 13.917 % TFII: 13.052 % |
|
| EBIT Margin | 8.217 % | |
| EBIT Margin QoQ | 45.279 % | |
| EBIT Margin YoY | -8.649 % | |
| EBIT Margin IPRWA | high: 48.635 % median: 41.667 % mean: 39.413 % TFII: 8.217 % low: 1.98 % |
|
| Return On Sales (ROS) | 8.176 % | |
| Return On Sales QoQ | 44.554 % | |
| Return On Sales YoY | -9.105 % | |
| Return On Sales IPRWA | high: 41.03 % median: 38.343 % mean: 36.409 % TFII: 8.176 % low: 1.98 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 161.7 M | |
| Free Cash Flow Yield | 2.151 % | |
| Free Cash Flow Yield QoQ | 12.148 % | |
| Free Cash Flow Yield YoY | 108.632 % | |
| Free Cash Flow Yield IPRWA | TFII: 2.151 % high: 1.536 % median: 1.0 % mean: 0.761 % low: -5.507 % |
|
| Free Cash Growth | 5.808 % | |
| Free Cash Growth QoQ | -130.727 % | |
| Free Cash Growth YoY | 129.929 % | |
| Free Cash Growth IPRWA | high: 131.758 % median: 7.132 % TFII: 5.808 % mean: -8.772 % low: -237.098 % |
|
| Free Cash To Net Income | 1.647 | |
| Cash Flow Margin | 13.964 % | |
| Cash Flow To Earnings | 2.898 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.371 % | |
| Return On Assets QoQ | 74.427 % | |
| Return On Assets YoY | -16.504 % | |
| Return On Assets IPRWA | high: 4.865 % mean: 2.268 % median: 2.053 % TFII: 1.371 % low: 0.161 % |
|
| Return On Capital Employed (ROCE) | 2.711 % | |
| Return On Equity (ROE) | 0.037 | |
| Return On Equity QoQ | 72.24 % | |
| Return On Equity YoY | -18.129 % | |
| Return On Equity IPRWA | high: 0.115 mean: 0.069 median: 0.064 TFII: 0.037 low: 0.005 |
|
| DuPont ROE | 3.698 % | |
| Return On Invested Capital (ROIC) | 2.456 % | |
| Return On Invested Capital QoQ | 47.596 % | |
| Return On Invested Capital YoY | -88.916 % | |
| Return On Invested Capital IPRWA | high: 6.104 % mean: 3.463 % median: 3.186 % TFII: 2.456 % low: 0.417 % |
|