Recent News
On October 28, 2025 the company announced redemption of $10.0 million of 5.00% fixed-to-floating subordinated notes, scheduled for November 30, 2025. On October 24–27, 2025 the board declared a $0.12 per-share cash dividend payable November 26, 2025 to holders of record November 10, 2025. Filings in mid-November 2025 show a large asset manager trimming its stake, and several broker reports updated coverage or targets through late November 2025.
Technical Analysis
Directional indicators show mixed pressure: DI- registered a dip & reversal while DI+ shows a peak & reversal, a configuration that reads as bearish directional shifts even though ADX at 14.14 indicates no strong underlying trend; expect range-bound movement rather than a sustained trend extension.
MACD sits at 0.26 with a MACD signal of 0.17 and a MACD trend of peak & reversal; the indicator currently sits above its signal line, a condition that typically signals near-term bullish momentum, but the peak & reversal points to weakening momentum and raises the chance of a momentum fade.
MRO stands at 22.73 and shows an increasing trajectory; a positive, rising MRO implies price sits above WMDST’s target, placing pressure on the share price and increasing the probability of mean reversion toward valuation targets in the near term.
RSI at 47.39 with a peak & reversal signals momentum rolling lower into neutral territory; that pattern supports the view of compressed price action with potential for limited downside before buyers re-emerge.
Price relationships convey mixed signals: the close at $28.87 sits below the 20-day average ($29.20) and the 200-day average ($30.63) while trading modestly above the 50-day average ($28.44). The 12-day EMA shows a peak & reversal, reinforcing short-term weakness within a mid-term neutral band. Bollinger bands (1x) run roughly $28.62–$29.78; the current price sits near the lower band, consistent with a consolidation band rather than a volatility expansion.
Ichimoku lines sit close to price: Tenkan-sen at $29.00 lies above the close, Kijun-sen at $28.29 sits below, and the cloud spans $28.77–$31.01; price positioning near Senkou A indicates near-term support around current levels, while the Senkou B level provides higher resistance.
Volume and volatility remain subdued: daily volume near 53,238 vs a 10-day average of 48,849 and 50/200-day averages near 48–58k; 42-day and 52-week volatility measure low. Low volatility and ADX <20 favor consolidation and make breakout signals less reliable until momentum indicators confirm direction.
Fundamental Analysis
Earnings metrics: reported EPS of $0.72 missed the $0.83 estimate by $0.11, an EPS surprise of -13.25%. Forward EPS sits at $0.825 with a forward P/E of 42.58. WMDST valuation judgment labels the equity fair-valued, supported by current book and cash metrics.
Valuation multiples: trailing P/E at 43.72 sits below the industry peer mean P/E of 50.14 and the industry peer median P/E of 49.66. Price-to-book at 1.32286 sits above the industry peer mean book multiple of 0.89182 and above the industry peer median of 1.07133. Price-to-sales at 8.42654 stands above the industry peer mean of 6.59816 and above the industry peer median of 7.39039. These comparisons indicate relative premium on capital and revenue measures while earnings multiple shows less premium than peers.
QoQ and YoY dynamics: price-to-book declined roughly 7.61% QoQ but rose about 9.80% YoY. Trailing P/E increased roughly 13.02% QoQ and about 19.01% YoY. Price-to-sales fell about 7.44% QoQ and rose about 12.34% YoY. Revenue growth registered 2.01% on the most recent period with revenue down roughly 15.27% YoY; earnings growth readings show a QoQ surge of roughly 348.64% contrasted with a large negative year-over-year reading of -228.91% (data fields reflect significant base effects). Return on assets equals 0.445% and return on equity equals 3.816%, with both ROA and ROE improving on a QoQ basis (+14.10% and +10.39% QoQ respectively) and markedly higher YoY percentages reported.
Cash and balance-sheet metrics strengthen the valuation case: cash on hand stands at $188.8 million, operating cash flow $32.9 million, free cash flow $31.65 million and free cash flow yield 6.06%, slightly below the industry peer mean free cash flow yield of 6.99% but near the industry peer median of 6.13%. Debt levels remain modest: total debt $34.06 million versus total assets ≈ $3.389 billion (debt-to-assets 1.01%), and debt-to-equity sits at 8.63% with a YoY reduction of about 62.27% in debt-to-equity, indicating deleveraging relative to the prior year.
Other operational metrics: net interest income equals $52.02 million, total revenue $61.97 million, and book value per share sits at $23.80. Dividend coverage and payout remain conservative with a dividend rate of $0.12 per share, a dividend payout ratio near 13.22% and dividend coverage around 7.57x. These factors support the fair-valued assessment while highlighting capital return via dividend alongside ongoing capital management actions such as note redemption.
Valuation summary: WMDST values the stock as fair-valued, balancing P/B and P/S premiums against a trailing P/E below the industry peer mean and moderate free cash flow generation. Ongoing capital actions (dividend, note redemption) will influence near-term capital structure and liquidity but do not change the current WMDST fair-value conclusion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-27 |
| NEXT REPORT DATE: | 2026-01-26 |
| CASH FLOW | Begin Period Cash Flow | $ 274.6 M |
| Operating Cash Flow | $ 32.9 M | |
| Capital Expenditures | $ -1.25 M | |
| Change In Working Capital | $ 10.0 M | |
| Dividends Paid | $ -1.99 M | |
| Cash Flow Delta | $ -85.75 M | |
| End Period Cash Flow | $ 188.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 62.0 M | |
| Forward Revenue | $ 14.1 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 807.0 K | |
| Depreciation and Amortization | $ 1.1 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 64.9 M | |
| Interest Expense | $ 12.9 M | |
| Net Interest Income | $ 52.0 M | |
| Income Before Tax | $ 19.9 M | |
| Tax Provision | $ 4.8 M | |
| Tax Rate | 24.2 % | |
| Net Income | $ 15.1 M | |
| Net Income From Continuing Operations | $ 15.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.83 | |
| EPS Actual | $ 0.72 | |
| EPS Difference | $ -0.11 | |
| EPS Surprise | -13.253 % | |
| Forward EPS | $ 0.82 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.4 B | |
| Intangible Assets | $ 41.0 M | |
| Net Tangible Assets | $ 353.8 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 188.8 M | |
| Net Receivables | $ 19.0 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 8.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 34.1 M | |
| Total Liabilities | $ 3.0 B | |
| EQUITY | ||
| Total Equity | $ 394.8 M | |
| Retained Earnings | $ 274.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 23.80 | |
| Shares Outstanding | 16.589 M | |
| Revenue Per-Share | $ 3.74 | |
| VALUATION | Market Capitalization | $ 522.2 M |
| Enterprise Value | $ 556.3 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 8.976 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 8.586 | |
| Asset To Liability | 1.132 | |
| Debt To Capital | 0.079 | |
| Debt To Assets | 0.01 | |
| Debt To Assets QoQ | 0.0 % | |
| Debt To Assets YoY | -59.832 % | |
| Debt To Assets IPRWA | high: 0.253 mean: 0.172 median: 0.167 CBNK: 0.01 low: 0.006 |
|
| Debt To Equity | 0.086 | |
| Debt To Equity QoQ | -3.738 % | |
| Debt To Equity YoY | -62.274 % | |
| Debt To Equity IPRWA | high: 4.219 median: 2.449 mean: 2.22 CBNK: 0.086 low: 0.06 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.323 | |
| Price To Book QoQ | -7.61 % | |
| Price To Book YoY | 9.802 % | |
| Price To Book IPRWA | high: 2.697 CBNK: 1.323 median: 1.071 mean: 0.892 low: 0.0 |
|
| Price To Earnings (P/E) | 43.722 | |
| Price To Earnings QoQ | 13.021 % | |
| Price To Earnings YoY | 19.01 % | |
| Price To Earnings IPRWA | high: 81.671 mean: 50.139 median: 49.662 CBNK: 43.722 low: -0.125 |
|
| PE/G Ratio | -2.859 | |
| Price To Sales (P/S) | 8.427 | |
| Price To Sales QoQ | -7.436 % | |
| Price To Sales YoY | 12.336 % | |
| Price To Sales IPRWA | high: 26.376 CBNK: 8.427 median: 7.39 mean: 6.598 low: 0.006 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 42.576 | |
| Forward PE/G | -2.784 | |
| Forward P/S | 39.624 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.018 | |
| Asset Turnover Ratio QoQ | 3.1 % | |
| Asset Turnover Ratio YoY | 1.611 % | |
| Asset Turnover Ratio IPRWA | high: 0.024 CBNK: 0.018 mean: 0.01 median: 0.01 low: 0.004 |
|
| Receivables Turnover | 3.628 | |
| Receivables Turnover Ratio QoQ | 5.039 % | |
| Receivables Turnover Ratio YoY | 7.118 % | |
| Receivables Turnover Ratio IPRWA | high: 3.906 CBNK: 3.628 median: 3.095 mean: 2.726 low: 0.168 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 25.148 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 60.417 median: 29.484 mean: 29.061 low: 10.398 CBNK: 0 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.02 | |
| CapEx To Depreciation | -1.546 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 428.8 M | |
| Net Invested Capital | $ 428.8 M | |
| Invested Capital | $ 428.8 M | |
| Net Tangible Assets | $ 353.8 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 | 38.206 % | |
| 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 | 7.567 | |
| Dividend Payout Ratio | 0.132 | |
| Dividend Rate | $ 0.12 | |
| Dividend Yield | 0.004 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.023 % | |
| Revenue Growth | 2.009 % | |
| Revenue Growth QoQ | 0.0 % | |
| Revenue Growth YoY | -15.268 % | |
| Revenue Growth IPRWA | high: 15.791 % CBNK: 2.009 % median: -5.459 % mean: -7.047 % low: -14.145 % |
|
| Earnings Growth | -15.294 % | |
| Earnings Growth QoQ | 348.636 % | |
| Earnings Growth YoY | -228.911 % | |
| Earnings Growth IPRWA | high: 39.326 % mean: -11.059 % CBNK: -15.294 % median: -16.667 % low: -61.932 % |
|
| 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) | $ 31.7 M | |
| Free Cash Flow Yield | 6.061 % | |
| Free Cash Flow Yield QoQ | -798.272 % | |
| Free Cash Flow Yield YoY | 11335.849 % | |
| Free Cash Flow Yield IPRWA | high: 15.733 % mean: 6.987 % median: 6.127 % CBNK: 6.061 % low: -0.474 % |
|
| Free Cash Growth | -770.025 % | |
| Free Cash Growth QoQ | 535.848 % | |
| Free Cash Growth YoY | 681.64 % | |
| Free Cash Growth IPRWA | high: 511.08 % mean: -295.399 % median: -369.85 % low: -558.175 % CBNK: -770.025 % |
|
| Free Cash To Net Income | 2.101 | |
| Cash Flow Margin | 19.62 % | |
| Cash Flow To Earnings | 0.807 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.06 | |
| Return On Assets (ROA) | 0.445 % | |
| Return On Assets QoQ | 14.103 % | |
| Return On Assets YoY | 28.242 % | |
| Return On Assets IPRWA | high: 0.582 % CBNK: 0.445 % mean: 0.377 % median: 0.368 % low: 0.079 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.038 | |
| Return On Equity QoQ | 10.385 % | |
| Return On Equity YoY | 23.256 % | |
| Return On Equity IPRWA | high: 0.054 median: 0.052 mean: 0.047 CBNK: 0.038 low: -0.007 |
|
| DuPont ROE | 3.89 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |