Recent News
Sept. 10, 2025: Zions scheduled a presentation at the Barclays Global Financial Services Conference. Mid‑October 2025: Zions disclosed a $50 million third‑quarter charge related to two C&I loans from its California unit, prompting legal action and sector scrutiny. Oct. 31, 2025: the board declared a regular quarterly common dividend of $0.45 per share payable Nov. 20, 2025.
Technical Analysis
ADX at 16.81 indicates no established trend; the lack of trend strength reduces conviction for extended directional moves and makes short-term signals more dependency-driven on momentum and headline flow.
DI+ reads 21.18 with a dip & reversal, while DI– reads 28.12 and shows decreasing — both directional indicators align with a bullish tilt that supports the introduction’s near-term recovery narrative.
MACD stands at -0.77, trending increasing and above its signal line (-0.91); the MACD crossing above the signal line signals a shift toward bullish momentum and complements the DI+/DI– alignment for a probable short-term lift.
MRO registers -29.38 with a peak & reversal; the negative MRO indicates the price sits below the oscillator’s target and implies potential for price to move upward toward balance with valuation targets, which supports a rebound thesis tied to the earnings beat.
RSI at 47.83 with a dip & reversal suggests momentum recovered from a recent pullback and permits additional upside without immediate overbought risk, supporting a controlled bounce scenario tied to the MACD signal.
Price sits at $52.61, above the 200‑day average ($51.49) and near the 12‑day EMA ($52.11) which shows a dip & reversal; this position versus moving averages favors stability around current levels and aligns with the modest bullish momentum in oscillators. Bollinger bands compress near $50.81–$53.24, indicating contained volatility that may favor range-bound recovery unless headlines expand volatility.
Fundamental Analysis
WMDST values the stock as over‑valued. Quarterly results showed EPS of $1.48 versus an estimate of $1.40, an EPS surprise of 5.71%, which underpins the short-term bullish technical signals by confirming earnings resilience.
Profitability metrics: return on equity stands at 3.74% and return on assets at 0.276%; both show QoQ improvement (ROE QoQ +37.64%, ROA QoQ +43.75%) and place ROE above the industry peer mean of 2.687% and above the industry peer median of 2.83%.
Revenue and earnings growth: revenue growth year‑over‑year ran 60.55% while revenue growth QoQ shows a contraction; earnings growth year‑over‑year equals 28.72% with a large QoQ deceleration. Strong YoY expansion contrasts with short‑term sequential softness, which supports the recovery thesis only if sequential trends stabilize.
Valuation multiples: trailing P/E equals 31.21, below the industry peer mean P/E of 44.70 and below the peer median of 43.99; price‑to‑book sits at 1.20, slightly below the industry peer mean of 1.256 and effectively in line with the industry peer median of 1.1918. Forward P/E near 39.53 sits below the industry peer mean forward P/E of 46.09. These relative positions indicate valuation compression versus peers despite WMDST’s over‑valued determination, which reflects WMDST’s internal criteria beyond simple multiples.
Capital, liquidity and credit: cash totals $2.561B, total assets $88.893B, and tangible equity stands at $5.5B. Net interest income of $648M against interest income of $1.051B and interest expense of $403M shows persistent yield capture but elevated funding costs. Provisioning and the disclosed $50M charge highlight credit monitoring as the principal fundamental risk near term.
Cash flow and dividends: free cash flow totaled negative $93M with a free cash flow yield of -1.19% and free cash growth showing material YoY weakness; the board maintained a quarterly common dividend of $0.45 (dividend yield ~0.83%), supported by a payout ratio of ~26.64% and dividend coverage of 3.75x, indicating payout sustainability under current earnings levels.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-10-20 |
| NEXT REPORT DATE: | 2026-01-19 |
| CASH FLOW | Begin Period Cash Flow | $ 833.0 M |
| Operating Cash Flow | $ -62.00 M | |
| Capital Expenditures | $ -31.00 M | |
| Change In Working Capital | $ -322.00 M | |
| Dividends Paid | $ -65.00 M | |
| Cash Flow Delta | $ -53.00 M | |
| End Period Cash Flow | $ 780.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 838.0 M | |
| Forward Revenue | $ 154.9 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 29.0 M | |
| Depreciation and Amortization | $ 29.0 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 1.1 B | |
| Interest Expense | $ 403.0 M | |
| Net Interest Income | $ 648.0 M | |
| Income Before Tax | $ 312.0 M | |
| Tax Provision | $ 68.0 M | |
| Tax Rate | 21.8 % | |
| Net Income | $ 244.0 M | |
| Net Income From Continuing Operations | $ 244.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.40 | |
| EPS Actual | $ 1.48 | |
| EPS Difference | $ 0.08 | |
| EPS Surprise | 5.714 % | |
| Forward EPS | $ 1.22 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 88.9 B | |
| Intangible Assets | $ 1.1 B | |
| Net Tangible Assets | $ 5.5 B | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 2.6 B | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 970.0 M | |
| Total Liabilities | $ 82.3 B | |
| EQUITY | ||
| Total Equity | $ 6.5 B | |
| Retained Earnings | $ 7.0 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 44.24 | |
| Shares Outstanding | 147.603 M | |
| Revenue Per-Share | $ 5.68 | |
| VALUATION | Market Capitalization | $ 7.8 B |
| Enterprise Value | $ 8.8 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 10.487 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 13.613 | |
| Asset To Liability | 1.08 | |
| Debt To Capital | 0.129 | |
| Debt To Assets | 0.011 | |
| Debt To Assets QoQ | -0.456 % | |
| Debt To Assets YoY | -83.085 % | |
| Debt To Assets IPRWA | high: 0.165 median: 0.063 mean: 0.061 ZION: 0.011 low: 0.001 |
|
| Debt To Equity | 0.149 | |
| Debt To Equity QoQ | -3.52 % | |
| Debt To Equity YoY | -85.319 % | |
| Debt To Equity IPRWA | high: 1.774 mean: 0.612 median: 0.553 ZION: 0.149 low: -0.158 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.197 | |
| Price To Book QoQ | 2.364 % | |
| Price To Book YoY | 6.638 % | |
| Price To Book IPRWA | high: 2.06 mean: 1.256 ZION: 1.197 median: 1.192 low: 0.014 |
|
| Price To Earnings (P/E) | 31.213 | |
| Price To Earnings QoQ | -28.924 % | |
| Price To Earnings YoY | -5.166 % | |
| Price To Earnings IPRWA | high: 85.266 mean: 44.7 median: 43.985 ZION: 31.213 low: 29.155 |
|
| PE/G Ratio | 0.705 | |
| Price To Sales (P/S) | 9.33 | |
| Price To Sales QoQ | 1.284 % | |
| Price To Sales YoY | 14.118 % | |
| Price To Sales IPRWA | high: 24.824 mean: 13.279 median: 12.564 ZION: 9.33 low: 0.128 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 39.531 | |
| Forward PE/G | 0.893 | |
| Forward P/S | 50.462 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.009 | |
| Asset Turnover Ratio QoQ | 5.451 % | |
| Asset Turnover Ratio YoY | 7.973 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 mean: 0.01 median: 0.01 ZION: 0.009 low: 0.006 |
|
| 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 | -0.037 | |
| CapEx To Depreciation | -1.069 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 7.6 B | |
| Net Invested Capital | $ 7.5 B | |
| Invested Capital | $ 7.5 B | |
| Net Tangible Assets | $ 5.5 B | |
| 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 | 32.59 % | |
| 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 | 3.754 | |
| Dividend Payout Ratio | 0.266 | |
| Dividend Rate | $ 0.44 | |
| Dividend Yield | 0.008 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.024 % | |
| Revenue Growth | 5.409 % | |
| Revenue Growth QoQ | -277.402 % | |
| Revenue Growth YoY | 60.552 % | |
| Revenue Growth IPRWA | high: 19.743 % ZION: 5.409 % mean: 3.939 % median: 3.469 % low: -10.94 % |
|
| Earnings Growth | 44.248 % | |
| Earnings Growth QoQ | -382.338 % | |
| Earnings Growth YoY | 28.721 % | |
| Earnings Growth IPRWA | high: 62.857 % ZION: 44.248 % mean: 13.103 % median: 13.068 % low: -39.535 % |
|
| 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) | $ -93.00 M | |
| Free Cash Flow Yield | -1.19 % | |
| Free Cash Flow Yield QoQ | -157.322 % | |
| Free Cash Flow Yield YoY | -131.886 % | |
| Free Cash Flow Yield IPRWA | high: 8.216 % mean: 2.464 % median: 2.071 % ZION: -1.19 % low: -4.487 % |
|
| Free Cash Growth | -161.184 % | |
| Free Cash Growth QoQ | 133.885 % | |
| Free Cash Growth YoY | -12508.314 % | |
| Free Cash Growth IPRWA | high: 603.019 % median: 1.088 % mean: -24.254 % ZION: -161.184 % low: -480.617 % |
|
| Free Cash To Net Income | -0.381 | |
| Cash Flow Margin | 32.578 % | |
| Cash Flow To Earnings | 1.119 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.07 | |
| Return On Assets (ROA) | 0.276 % | |
| Return On Assets QoQ | 43.75 % | |
| Return On Assets YoY | 20.0 % | |
| Return On Assets IPRWA | high: 0.612 % mean: 0.287 % median: 0.279 % ZION: 0.276 % low: -0.094 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.037 | |
| Return On Equity QoQ | 37.643 % | |
| Return On Equity YoY | 3.834 % | |
| Return On Equity IPRWA | high: 0.044 ZION: 0.037 median: 0.028 mean: 0.027 low: -0.015 |
|
| DuPont ROE | 3.817 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |