Recent News
On January 20, 2026 the Board approved a quarterly cash dividend increase to $0.125 per share, a 25% raise payable March 5, 2026 to shareholders of record February 17, 2026. On December 15, 2025 Investor’s Business Daily upgraded the company’s composite technical rating into the 95-plus club, noting strong relative earnings momentum and a consolidation pattern.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX at 27.48 indicates a strong directional regime. DI+ shows a peak & reversal while DI- shows a peak & reversal; DI+ peaking implies diminishing bullish push, while DI- peaking implies retreating bearish pressure, creating a transitionary directional posture that retains trend strength.
MACD: MACD sits at 0.22 with the MACD signal at 0.18 and the MACD_trend listed as increasing; the MACD currently crosses above its signal line, a bullish momentum confirmation that supports continuation of the recent upward bias in price.
MRO (Momentum/Regression Oscillator): MRO reads 13.71 with a dip & reversal; the positive MRO level indicates the price sits above the oscillator’s target and therefore faces compressive pressure toward the target despite the recent reversal signal.
RSI: RSI at 55.59 with a peak & reversal signals the index recently topped and reversed, implying momentum has eased from the highest short-term levels while remaining above the midline.
Price vs. moving averages and bands: Last close $19.81 sits above the 20-day average $19.52 and the 50-day average $19.02 and above the 200-day average $17.51; the 12-day EMA is rising, reinforcing that recent price action remains constructive versus longer-term averages. Bollinger bands show a 1x upper band near $20.31 and a 1x lower band near $18.73, placing current price inside the upper half of the channel.
Volatility & liquidity: 42-day beta at 0.18 and 52-week beta at 0.73 indicate below-average market sensitivity; average daily volume runs thin relative to sporadic spikes, so technical moves may amplify on lower liquidity.
Fundamental Analysis
Earnings and guidance: Reported EPS of $0.24 versus an estimate of $0.50 resulted in an EPS surprise of -52%; the earnings release dated January 22, 2026 corresponds with the period ending September 30, 2025 and the next scheduled report on April 23, 2026. The EPS shortfall compresses near-term headline momentum despite operating profitability.
Profitability & returns: Return on equity measures 4.28% and return on assets 0.33%, both above their stated peer means; return on equity QoQ rose 21.62% and YoY rose 31.62%, indicating improving capital efficiency on a trailing basis.
Valuation multiples vs. industry peers (IPRWA): Price/book at 1.48 sits above the industry peer mean of 1.25 and above the peer median of 1.16 while remaining inside the peer range (0.28–2.04). Price/earnings at 38.07 sits below the industry peer mean 43.01 and median 41.79. PEG at 3.05 falls below the peer mean 4.46 and just under the peer median 3.24. Price/sales at 12.43 reads slightly below the peer mean 12.81 and peer median 12.49. These comparisons show mixed alignment with peers depending on the multiple used and support WMDST’s current view that the stock appears under-valued on a composite basis.
Growth and cash generation: Reported revenue growth shows a QoQ decline of -67.05% and a YoY decline of -54.56%, while free cash flow yield equals 6.46% (well above the peer mean of 2.70%) and free cash flow rose QoQ by 22.29% and YoY by 63.99%. Operating cash flow and free cash flow remain sizable at $20.15M and $20.03M respectively, supporting dividend capacity and the Board’s recent increase.
Capital structure and credit metrics: Debt to assets sits at 2.04% and debt to equity at 27.04%, both below peer means, indicating a conservative leverage profile. Tangible book value per share (book value $11.55) plus retained earnings dynamics require monitoring given an accumulated deficit in retained earnings, but capital adequacy remains intact for current dividend policy.
Valuation summary: WMDST values the stock as under-valued based on elevated free cash flow yield, improving returns, conservative leverage, and a P/E that trades below peer mean despite the recent EPS miss; revenue contractions represent the primary headwind to multiple expansion absent clear revenue stabilization.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2026-01-22 |
| NEXT REPORT DATE: | 2026-04-23 |
| CASH FLOW | Begin Period Cash Flow | $ 54.8 M |
| Operating Cash Flow | $ 20.1 M | |
| Capital Expenditures | $ -114.00 K | |
| Change In Working Capital | $ 7.7 M | |
| Dividends Paid | $ -2.01 M | |
| Cash Flow Delta | $ 2.0 M | |
| End Period Cash Flow | $ 56.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 25.0 M | |
| Forward Revenue | $ 7.1 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 158.0 K | |
| Depreciation and Amortization | $ 158.0 K | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 37.7 M | |
| Interest Expense | $ 16.4 M | |
| Net Interest Income | $ 21.3 M | |
| Income Before Tax | $ 11.8 M | |
| Tax Provision | $ 2.9 M | |
| Tax Rate | 24.28 % | |
| Net Income | $ 8.9 M | |
| Net Income From Continuing Operations | $ 8.9 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.50 | |
| EPS Actual | $ 0.24 | |
| EPS Difference | $ -0.26 | |
| EPS Surprise | -52.0 % | |
| Forward EPS | $ 0.56 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.8 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 209.1 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 56.8 M | |
| Net Receivables | $ 12.1 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 56.5 M | |
| Total Liabilities | $ 2.6 B | |
| EQUITY | ||
| Total Equity | $ 209.1 M | |
| Retained Earnings | $ -49.09 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 11.55 | |
| Shares Outstanding | 18.107 M | |
| Revenue Per-Share | $ 1.38 | |
| VALUATION | Market Capitalization | $ 310.2 M |
| Enterprise Value | $ 366.7 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 14.694 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 13.238 | |
| Asset To Liability | 1.082 | |
| Debt To Capital | 0.213 | |
| Debt To Assets | 0.02 | |
| Debt To Assets QoQ | -51.702 % | |
| Debt To Assets YoY | -59.783 % | |
| Debt To Assets IPRWA | high: 0.165 mean: 0.056 median: 0.053 USCB: 0.02 low: 0.0 |
|
| Debt To Equity | 0.27 | |
| Debt To Equity QoQ | -45.565 % | |
| Debt To Equity YoY | -54.521 % | |
| Debt To Equity IPRWA | high: 1.525 mean: 0.51 median: 0.455 USCB: 0.27 low: -0.109 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.484 | |
| Price To Book QoQ | 0.838 % | |
| Price To Book YoY | 12.186 % | |
| Price To Book IPRWA | high: 2.042 USCB: 1.484 mean: 1.245 median: 1.156 low: 0.284 |
|
| Price To Earnings (P/E) | 38.069 | |
| Price To Earnings QoQ | -10.393 % | |
| Price To Earnings YoY | -7.583 % | |
| Price To Earnings IPRWA | high: 75.793 mean: 43.01 median: 41.79 USCB: 38.069 low: 9.669 |
|
| PE/G Ratio | 3.046 | |
| Price To Sales (P/S) | 12.429 | |
| Price To Sales QoQ | -10.975 % | |
| Price To Sales YoY | -5.329 % | |
| Price To Sales IPRWA | high: 24.051 mean: 12.812 median: 12.491 USCB: 12.429 low: 0.117 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 44.779 | |
| Forward PE/G | 3.582 | |
| Forward P/S | 64.164 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.009 | |
| Asset Turnover Ratio QoQ | 0.664 % | |
| Asset Turnover Ratio YoY | 4.839 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 mean: 0.01 median: 0.01 USCB: 0.009 low: 0.005 |
|
| Receivables Turnover | 2.132 | |
| Receivables Turnover Ratio QoQ | -2.544 % | |
| Receivables Turnover Ratio YoY | 10.348 % | |
| Receivables Turnover Ratio IPRWA | high: 4.407 median: 2.631 mean: 2.613 USCB: 2.132 low: 0.56 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 42.797 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 42.797 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 56.945 USCB: 42.797 mean: 35.753 median: 34.679 low: 20.707 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.005 | |
| CapEx To Depreciation | -0.722 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 259.4 M | |
| Net Invested Capital | $ 259.4 M | |
| Invested Capital | $ 259.4 M | |
| Net Tangible Assets | $ 209.1 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 | 14.515 % | |
| 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 | 4.452 | |
| Dividend Payout Ratio | 0.225 | |
| Dividend Rate | $ 0.11 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.782 % | |
| Revenue Growth | 2.27 % | |
| Revenue Growth QoQ | -67.054 % | |
| Revenue Growth YoY | -54.555 % | |
| Revenue Growth IPRWA | high: 23.369 % mean: 4.949 % median: 4.033 % USCB: 2.27 % low: -9.66 % |
|
| Earnings Growth | 12.5 % | |
| Earnings Growth QoQ | 137.507 % | |
| Earnings Growth YoY | -3.123 % | |
| Earnings Growth IPRWA | high: 63.889 % USCB: 12.5 % median: 8.235 % mean: 7.516 % low: -37.5 % |
|
| 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) | $ 20.0 M | |
| Free Cash Flow Yield | 6.458 % | |
| Free Cash Flow Yield QoQ | 22.287 % | |
| Free Cash Flow Yield YoY | 63.992 % | |
| Free Cash Flow Yield IPRWA | high: 9.076 % USCB: 6.458 % mean: 2.695 % median: 2.634 % low: -3.401 % |
|
| Free Cash Growth | 11.349 % | |
| Free Cash Growth QoQ | -51.469 % | |
| Free Cash Growth YoY | -130.304 % | |
| Free Cash Growth IPRWA | high: 435.53 % mean: 17.587 % USCB: 11.349 % median: 4.44 % low: -394.679 % |
|
| Free Cash To Net Income | 2.241 | |
| Cash Flow Margin | 33.08 % | |
| Cash Flow To Earnings | 0.924 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.05 | |
| Return On Assets (ROA) | 0.326 % | |
| Return On Assets QoQ | 7.947 % | |
| Return On Assets YoY | 16.429 % | |
| Return On Assets IPRWA | high: 0.657 % USCB: 0.326 % mean: 0.305 % median: 0.301 % low: 0.027 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.043 | |
| Return On Equity QoQ | 21.622 % | |
| Return On Equity YoY | 31.619 % | |
| Return On Equity IPRWA | high: 0.052 USCB: 0.043 median: 0.03 mean: 0.028 low: 0.002 |
|
| DuPont ROE | 4.058 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |