Recent News
On December 23, 2025 the company amended and restated change-in-control agreements for senior lending and credit executives, updating terms and extending the initial agreement to December 31, 2028.
Insider transactions reported in mid-December show director-level open-market sales, including a notable block sold on December 11, 2025, disclosed via Form 4 filings.
On January 20, 2026 the board declared a quarterly cash dividend of $0.125 per share, payable March 5, 2026 to holders of record on February 17, 2026.
Technical Analysis
Directional indicators show an emerging trend: ADX at 21.49 signals trend emergence while DI+ stands at 14.04 and DI- at 23.86; DI+ trend decreasing and DI- showing a dip-and-reversal together convey a bearish directional bias that pressures near-term price momentum.
MACD sits negative at -0.22 with a declining MACD_trend and the MACD signal line at -0.07; the negative, falling MACD confirms bearish momentum and reinforces the immediate downside skew in price action.
MRO reads 0.1 and is decreasing, indicating price sits just above WMDST’s target and the momentum oscillator suggests limited downside potential from current levels but an overall bias toward mild mean reversion.
RSI at 49.14 with a decreasing trend places momentum near neutral-to-weak, consistent with consolidation rather than a decisive breakout; short-term oscillators therefore favor range-bound trading with downside susceptibility.
Price context: last close $18.26 below the 50-day average $19.23 and the 12-day EMA is decreasing, while the 200-day average $17.76 remains below price; this mixed alignment implies shorter-term resistance at the 50-day band and structural support near the 200-day average.
Volatility and volume show subdued participation: 10-day average volume 50,286 versus today’s 24,270 indicates lower trading interest; Bollinger bands compress (upper ~$19.53, lower ~$18.41), pointing to consolidation that typically precedes directional resolution.
Fundamental Analysis
Reported EPS of $0.24 missed the estimate of $0.50 by $0.26, an EPS surprise of -52%, reflecting the fourth-quarter dynamics documented in the company’s recent filings. QoQ and YoY earnings movements show mixed signals: earnings growth stands at 12.5% year-over-year for the latest period, while earnings growth QoQ accelerated by 137.5% compared to the prior quarter.
Profitability metrics remain modest: return on assets 0.33% and return on equity 4.28%, both showing QoQ strength (ROA QoQ +7.95%, ROE QoQ +21.62%). Net income for the period totaled $8.94 million and operating cash flow approximated $20.15 million, with free cash flow $20.03 million and a free cash flow yield of 6.46%, which sits above the industry peer mean free cash flow yield of 2.70%.
Balance-sheet and capital ratios show conservative leverage: debt-to-assets 2.04% and debt-to-equity 27.04% both contracted QoQ and YoY, indicating a de-risked balance sheet and improved capital flexibility. Tangible book value per share improved to $11.97 at year-end, supported by stable capital and dividend coverage (dividend payout ratio 22.46%, dividend coverage ~4.45x).
Valuation multiples present a mixed picture versus peers: the P/E of 38.07 sits below the industry peer mean P/E of 42.99, while the price-to-book of 1.48 exceeds the industry peer mean book ratio of 1.25; price-to-sales at 12.43 registers slightly below the industry peer mean of 12.81. QoQ and YoY multiple shifts: P/E declined ~10.39% QoQ and ~7.58% YoY, while price-to-book rose ~0.84% QoQ and ~12.19% YoY.
Revenue dynamics show contraction: revenue growth QoQ dropped ~67.05% and revenue growth YoY declined ~54.56%, reflecting seasonal or portfolio effects in the quarter; however, net interest income expanded and the company signaled reallocations from lower-yield securities into higher-yielding lending, which supports margin recovery over time.
WMDST values the stock as under-valued based on the current mix of free cash flow yield, improved tangible book, controlled leverage, and a lower-than-peer mean P/E; upside requires stabilization of revenue trends and sustained margin improvement after the balance-sheet repositioning.
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: 42.99 median: 41.768 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 | — | |