Recent News
Analyst coverage shifted in mid-December 2025 with at least one upgrade and mixed price targets; a major bank maintained an equal-weight view while trimming its objective in early December. The company’s latest quarter and investor materials in February 2026 highlighted continued branded-product momentum, guidance for materially higher capital spending in 2026, and an announced special dividend program that reduced net leverage. Market commentary around the quarter emphasized margin contraction versus the prior year alongside growth in prepared-foods and branded volumes.
Technical Analysis
ADX at 26.47 indicates a strong trend presence; the strength supports the near-term price bias rather than revealing direction by itself.
Directional indicators show bullish alignment: DI+ displays a dip-and-reversal (bullish) while DI- shows a peak-and-reversal (bullish), implying positive directional convergence that supports upside continuation.
MACD registers a dip-and-reversal that signals improving bullish momentum, but the MACD line (0.16) remains below its signal line (0.39), so momentum has begun to recover without yet producing a confirming bullish cross.
MRO sits at -16.02 (negative), which implies the market price trades below the oscillator’s target and therefore contains upward potential as the oscillator reverts toward equilibrium.
RSI at 55.31 with a dip-and-reversal indicates modestly rising buying interest without overbought readings, consistent with scope for additional gains before momentum extremes.
Price trades above the 12-day and 26-day EMAs (price vs. EMA) and sits above the 50-day and 200-day averages, reinforcing short- to medium-term upside bias; the close near the upper Bollinger band (upper ~43.50) suggests upside may be compressed without a new momentum impulse.
Fundamental Analysis
Profitability: EBIT equals $499,537,000 and EBIT margin measures 10.496%. That margin sits slightly below the industry peer mean of 10.662% and below the industry peer median of 13.551%, remaining well inside the peer range (low -2.094% to high 27.02%). QoQ EBIT margin declined by 3.618% and YoY EBIT margin declined by 8.019%, showing recent margin pressure versus prior periods.
Earnings and consensus: Reported EPS came in at $0.68 versus an estimate of $0.76, a negative surprise of approximately -10.53%, reflecting the quarter’s margin compression despite positive operational lines.
Cash flow and liquidity: Operating cash flow reached $458,337,000 with free cash flow of $276,474,000, producing a free cash flow yield of 2.825%. Free cash flow yield exceeds the industry peer mean of 1.812%, providing relatively stronger cash-generation on WMDST’s measures. The cash conversion cycle stands at 34.77 days, above the industry peer mean of 12.04 days, indicating a longer working-capital cycle versus peers.
Leverage and coverage: Total debt of $3,344,083,000 produces net debt of $2,479,993,000 and debt-to-EBITDA of 5.43x; interest coverage equals 13.09x, indicating adequate earnings cover for interest expense despite elevated leverage ratios. Debt-to-assets equals 33.60% and debt-to-equity equals 0.944, roughly in line with typical capital structures for the group.
Growth and efficiency: Reported total revenue equals $4,759,342,000 with revenue growth essentially flat at 0.042% year-over-year and dramatic reported QoQ movement in the provided metric (–99.363% QoQ); asset turnover stands at 0.474 (above the industry peer mean of 0.205), signaling relatively efficient asset use in generating sales.
Valuation: WMDST values the stock as under-valued. Market multiples show a P/E of 27.10 and a price-to-book of 2.76 (below the industry peer mean P/B of 3.362), while enterprise multiple measures at 20.32. Forward P/E reads near 40.46, reflecting lower near-term earnings consensus; free cash flow yield and strong cash generation underpin WMDST’s under-valued conclusion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2026-02-11 |
| NEXT REPORT DATE: | 2026-05-13 |
| CASH FLOW | Begin Period Cash Flow | $ 858.3 M |
| Operating Cash Flow | $ 458.3 M | |
| Capital Expenditures | $ -181.86 M | |
| Change In Working Capital | $ 6.2 M | |
| Dividends Paid | $ -498.85 M | |
| Cash Flow Delta | $ -242.98 M | |
| End Period Cash Flow | $ 615.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 4.8 B | |
| Forward Revenue | $ 867.1 M | |
| COSTS | ||
| Cost Of Revenue | $ 4.1 B | |
| Depreciation | $ 116.4 M | |
| Depreciation and Amortization | $ 116.4 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 4.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 659.4 M | |
| EBITDA | $ 616.0 M | |
| EBIT | $ 499.5 M | |
| Operating Income | $ 494.4 M | |
| Interest Income | $ 9.2 M | |
| Interest Expense | $ 38.2 M | |
| Net Interest Income | $ -28.99 M | |
| Income Before Tax | $ 461.4 M | |
| Tax Provision | $ 118.3 M | |
| Tax Rate | 25.6 % | |
| Net Income | $ 342.8 M | |
| Net Income From Continuing Operations | $ 343.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.76 | |
| EPS Actual | $ 0.68 | |
| EPS Difference | $ -0.08 | |
| EPS Surprise | -10.526 % | |
| Forward EPS | $ 1.05 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 10.0 B | |
| Intangible Assets | $ 2.2 B | |
| Net Tangible Assets | $ 1.4 B | |
| Total Current Assets | $ 4.1 B | |
| Cash and Short-Term Investments | $ 612.6 M | |
| Cash | $ 612.6 M | |
| Net Receivables | $ 1.1 B | |
| Inventory | $ 2.0 B | |
| Long-Term Investments | $ 93.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.3 B | |
| Short-Term Debt | $ 912.0 K | |
| Total Current Liabilities | $ 2.7 B | |
| Net Debt | $ 2.5 B | |
| Total Debt | $ 3.3 B | |
| Total Liabilities | $ 6.4 B | |
| EQUITY | ||
| Total Equity | $ 3.5 B | |
| Retained Earnings | $ 2.2 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 14.91 | |
| Shares Outstanding | 237.547 M | |
| Revenue Per-Share | $ 20.04 | |
| VALUATION | Market Capitalization | $ 9.8 B |
| Enterprise Value | $ 12.5 B | |
| Enterprise Multiple | 20.322 | |
| Enterprise Multiple QoQ | -3.356 % | |
| Enterprise Multiple YoY | 51.169 % | |
| Enterprise Multiple IPRWA | high: 94.534 mean: 63.533 median: 61.837 PPC: 20.322 low: -8.252 |
|
| EV/R | 2.63 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.81 | |
| Asset To Liability | 1.556 | |
| Debt To Capital | 0.486 | |
| Debt To Assets | 0.336 | |
| Debt To Assets QoQ | 1.037 % | |
| Debt To Assets YoY | 4.054 % | |
| Debt To Assets IPRWA | high: 0.493 PPC: 0.336 mean: 0.32 median: 0.307 low: 0.003 |
|
| Debt To Equity | 0.944 | |
| Debt To Equity QoQ | 4.871 % | |
| Debt To Equity YoY | 726161.538 % | |
| Debt To Equity IPRWA | high: 1.753 PPC: 0.944 mean: 0.908 median: 0.838 low: 0.004 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.763 | |
| Price To Book QoQ | -4.061 % | |
| Price To Book YoY | 11.636 % | |
| Price To Book IPRWA | high: 8.176 mean: 3.362 median: 3.085 PPC: 2.763 low: 0.31 |
|
| Price To Earnings (P/E) | 27.102 | |
| Price To Earnings QoQ | -1.296 % | |
| Price To Earnings YoY | 0.667 % | |
| Price To Earnings IPRWA | high: 141.564 median: 85.75 mean: 77.407 PPC: 27.102 low: -19.064 |
|
| PE/G Ratio | -2.56 | |
| Price To Sales (P/S) | 2.056 | |
| Price To Sales QoQ | -9.125 % | |
| Price To Sales YoY | -9.404 % | |
| Price To Sales IPRWA | high: 11.73 median: 8.289 mean: 6.54 PPC: 2.056 low: 0.375 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 40.458 | |
| Forward PE/G | -3.821 | |
| Forward P/S | 10.936 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -86.025 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.474 | |
| Asset Turnover Ratio QoQ | 5.083 % | |
| Asset Turnover Ratio YoY | 7.464 % | |
| Asset Turnover Ratio IPRWA | high: 0.574 PPC: 0.474 mean: 0.205 median: 0.137 low: 0.002 |
|
| Receivables Turnover | 4.325 | |
| Receivables Turnover Ratio QoQ | -0.637 % | |
| Receivables Turnover Ratio YoY | -3.421 % | |
| Receivables Turnover Ratio IPRWA | high: 5.569 PPC: 4.325 mean: 3.072 median: 2.525 low: 0.79 |
|
| Inventory Turnover | 2.097 | |
| Inventory Turnover Ratio QoQ | -1.488 % | |
| Inventory Turnover Ratio YoY | -3.565 % | |
| Inventory Turnover Ratio IPRWA | high: 4.912 PPC: 2.097 mean: 1.567 median: 1.419 low: 0.925 |
|
| Days Sales Outstanding (DSO) | 21.1 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 34.766 | |
| Cash Conversion Cycle Days QoQ | 1.196 % | |
| Cash Conversion Cycle Days YoY | 4.286 % | |
| Cash Conversion Cycle Days IPRWA | high: 174.071 PPC: 34.766 median: 13.67 mean: 12.039 low: -38.924 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 3.454 | |
| CapEx To Revenue | -0.038 | |
| CapEx To Depreciation | -1.562 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 6.6 B | |
| Net Invested Capital | $ 6.6 B | |
| Invested Capital | $ 6.6 B | |
| Net Tangible Assets | $ 1.4 B | |
| Net Working Capital | $ 1.4 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.228 | |
| Current Ratio | 1.512 | |
| Current Ratio QoQ | -6.945 % | |
| Current Ratio YoY | -22.595 % | |
| Current Ratio IPRWA | high: 2.751 PPC: 1.512 median: 1.058 mean: 1.037 low: 0.124 |
|
| Quick Ratio | 0.78 | |
| Quick Ratio QoQ | -11.782 % | |
| Quick Ratio YoY | -38.351 % | |
| Quick Ratio IPRWA | high: 2.146 PPC: 0.78 mean: 0.629 median: 0.443 low: 0.374 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 5.429 | |
| Cost Of Debt | 0.846 % | |
| Interest Coverage Ratio | 13.092 | |
| Interest Coverage Ratio QoQ | 7.337 % | |
| Interest Coverage Ratio YoY | 4.086 % | |
| Interest Coverage Ratio IPRWA | high: 35.9 PPC: 13.092 mean: 5.982 median: 5.427 low: -16.386 |
|
| Operating Cash Flow Ratio | 0.155 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 30.463 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 0.687 | |
| Dividend Payout Ratio | 1.455 | |
| Dividend Rate | $ 2.10 | |
| Dividend Yield | 0.051 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.643 % | |
| Revenue Growth | 0.042 % | |
| Revenue Growth QoQ | -99.363 % | |
| Revenue Growth YoY | -92.54 % | |
| Revenue Growth IPRWA | high: 21.673 % mean: 4.214 % median: 1.78 % PPC: 0.042 % low: -16.405 % |
|
| Earnings Growth | -10.588 % | |
| Earnings Growth QoQ | -135.565 % | |
| Earnings Growth YoY | 342.088 % | |
| Earnings Growth IPRWA | high: 42.5 % mean: 0.022 % median: -1.075 % PPC: -10.588 % low: -90.909 % |
|
| MARGINS | ||
| Gross Margin | 13.855 % | |
| Gross Margin QoQ | -7.854 % | |
| Gross Margin YoY | -7.126 % | |
| Gross Margin IPRWA | high: 47.927 % median: 26.806 % mean: 25.962 % PPC: 13.855 % low: 5.238 % |
|
| EBIT Margin | 10.496 % | |
| EBIT Margin QoQ | -3.618 % | |
| EBIT Margin YoY | -8.019 % | |
| EBIT Margin IPRWA | high: 27.02 % median: 13.551 % mean: 10.662 % PPC: 10.496 % low: -2.094 % |
|
| Return On Sales (ROS) | 10.388 % | |
| Return On Sales QoQ | -4.196 % | |
| Return On Sales YoY | -8.965 % | |
| Return On Sales IPRWA | high: 27.02 % median: 11.586 % mean: 10.46 % PPC: 10.388 % low: 0.368 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 276.5 M | |
| Free Cash Flow Yield | 2.825 % | |
| Free Cash Flow Yield QoQ | -9.018 % | |
| Free Cash Flow Yield YoY | -46.303 % | |
| Free Cash Flow Yield IPRWA | high: 9.152 % PPC: 2.825 % mean: 1.812 % median: 1.273 % low: -0.58 % |
|
| Free Cash Growth | -17.274 % | |
| Free Cash Growth QoQ | -101.618 % | |
| Free Cash Growth YoY | 59.737 % | |
| Free Cash Growth IPRWA | high: 104.762 % PPC: -17.274 % mean: -35.287 % median: -36.456 % low: -514.513 % |
|
| Free Cash To Net Income | 0.806 | |
| Cash Flow Margin | 8.783 % | |
| Cash Flow To Earnings | 1.219 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 3.416 % | |
| Return On Assets QoQ | 1.275 % | |
| Return On Assets YoY | 1.455 % | |
| Return On Assets IPRWA | high: 6.347 % PPC: 3.416 % mean: 1.451 % median: 1.044 % low: -6.96 % |
|
| Return On Capital Employed (ROCE) | 6.878 % | |
| Return On Equity (ROE) | 0.097 | |
| Return On Equity QoQ | 1.756 % | |
| Return On Equity YoY | 16.32 % | |
| Return On Equity IPRWA | high: 0.127 PPC: 0.097 mean: 0.041 median: 0.028 low: -0.113 |
|
| DuPont ROE | 9.418 % | |
| Return On Invested Capital (ROIC) | 5.602 % | |
| Return On Invested Capital QoQ | -1.007 % | |
| Return On Invested Capital YoY | -127.8 % | |
| Return On Invested Capital IPRWA | high: 6.991 % PPC: 5.602 % mean: 1.978 % median: 1.44 % low: -0.771 % |
|