Recent News
On January 7, 2026 the board authorized a new share repurchase program allowing up to $20.0 million of common shares to be repurchased through January 8, 2028; the authorization follows recent, completed open-market repurchases disclosed in a Form 8‑K.
Technical Analysis
ADX at 22.77 signals an emerging directional environment rather than a strong trend; this strength reading suggests momentum can shift quickly if directional indicators change.
DI+ sits at 22.29 and shows a decreasing trend, which constitutes a bearish directional shift against prior bullishness and weighs on near-term upside relative to valuation support.
DI- reads 14.68 with a dip & reversal pattern; that pattern implies DI- moving higher from a prior low, reinforcing the directional friction signaled by DI+ and increasing short-term downside pressure.
MACD at 0.82 with a peak & reversal trend and a MACD signal of 0.83 indicates bearish momentum; the MACD sits just below its signal line and does not present a bullish crossover at present.
MRO at 35.84 and trending increasing places price above the computed target and implies a higher probability of mean reversion toward valuation-implied levels in the near term.
RSI 55.23 with a peak & reversal pattern signals waning upside momentum after a recent push; the reading sits in neutral territory but the reversal pattern favors consolidation or pullback over extension.
Price sits near short-term averages: close $34.28, 12‑day EMA $34.17 (peak & reversal), 20‑day average $34.49, above the 50‑day average $31.68 and the 200‑day average $28.67. That structure preserves medium-term bullish MA placement while short-term averages cap upside.
Bollinger bands place the 1‑STD upper at $35.92 and lower at $33.07; current price occupies the upper-mid band, so volatility-constrained extension would require renewed positive momentum to clear the upper band.
Ichimoku cloud components (Senkou A $30.78, Senkou B $31.77) lie below price, offering a technical support base; the SuperTrend lower at $32.50 provides a nearer tactical support level for price consolidation.
Volume at 148,900 sits below the 10‑day average (247,400), indicating recent moves lack accompanying participation and reducing conviction for sustained breakouts in the immediate term; 42‑day beta 0.26 and 52‑week beta 0.45 underscore low systematic sensitivity.
Fundamental Analysis
WMDST records net income $66,589,000 and EBIT $89,872,000 with an EBIT margin of 22.03%; that margin exceeds the industry peer mean of 20.86% and the industry peer median of 16.50%, supporting the current valuation. EBIT margin quarter-over-quarter rose +62.98% and shows a year-over-year change of +865.43% as reported.
EPS outperformed expectations: reported EPS $2.17 versus an estimate of $1.30, a difference of $0.87 and an EPS surprise of +66.92%, which materially strengthens near-term earnings credibility and supports free-cash conversion metrics.
Profitability and returns register positively: return on equity 12.08% and return on assets 2.25%, with ROE quarter-over-quarter up +50.19% and ROA quarter-over-quarter up +79.54%, signaling improved capital efficiency against recent periods.
Balance-sheet and liquidity metrics show $408,868,000 cash, $571,786,000 cash and short-term investments, total assets $2,839,695,000 and total equity $551,035,000; debt remains modest with total debt $100,481,000 and an interest coverage ratio of 63.20, indicating low financing strain.
Valuation multiples present a mixed picture: trailing P/E 14.30 versus an industry peer mean P/E 40.94, and P/B 1.58 below the industry peer mean P/B 2.59; PS ratio 2.13 below the industry peer mean PS 6.10. Forward P/E 31.50 with forward EPS $1.00 reflects elevated forward multiple versus trailing but remains below peer forward medians reported.
Cash-flow dynamics: operating cash flow $26,080,000, free cash flow $25,003,000 and free cash flow yield ~2.88%; free cash growth shows contraction year-over-year as reported, while free cash conversion to net income sits at 37.55%, indicating meaningful but variable cash conversion.
Revenue totaled $407,926,000 with a reported revenue growth figure of 1.73% and a quarter-on-quarter revenue change of +724.76% as provided; receivables turnover 1.15 and cash-conversion-cycle ~79 days align with the company’s underwriting and premium-collection cadence.
WMDST values the stock as under-valued based on the combination of above‑peer EBIT margin, robust earnings surprise, ample liquidity and conservative leverage; these fundamentals provide a valuation buffer against the current technical moderation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-24 |
| NEXT REPORT DATE: | 2026-05-26 |
| CASH FLOW | Begin Period Cash Flow | $ 474.2 M |
| Operating Cash Flow | $ 26.1 M | |
| Capital Expenditures | $ -1.08 M | |
| Change In Working Capital | $ -40.51 M | |
| Dividends Paid | $ -8.35 M | |
| Cash Flow Delta | $ 3.6 M | |
| End Period Cash Flow | $ 477.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 407.9 M | |
| Forward Revenue | $ 42.9 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | $ 319.5 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | $ 89.9 M | |
| Operating Income | — | |
| Interest Income | $ -177.00 K | |
| Interest Expense | $ 1.4 M | |
| Net Interest Income | $ -1.60 M | |
| Income Before Tax | $ 88.5 M | |
| Tax Provision | $ 21.9 M | |
| Tax Rate | 24.716 % | |
| Net Income | $ 66.6 M | |
| Net Income From Continuing Operations | $ 66.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.30 | |
| EPS Actual | $ 2.17 | |
| EPS Difference | $ 0.87 | |
| EPS Surprise | 66.923 % | |
| Forward EPS | $ 1.00 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.8 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 551.0 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | $ 571.8 M | |
| Cash | $ 408.9 M | |
| Net Receivables | $ 308.6 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 257.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 100.5 M | |
| Total Liabilities | $ 2.3 B | |
| EQUITY | ||
| Total Equity | $ 551.0 M | |
| Retained Earnings | $ 757.4 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 19.67 | |
| Shares Outstanding | 28.008 M | |
| Revenue Per-Share | $ 14.56 | |
| VALUATION | Market Capitalization | $ 868.9 M |
| Enterprise Value | $ 397.6 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 0.975 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 5.153 | |
| Asset To Liability | 1.241 | |
| Debt To Capital | 0.154 | |
| Debt To Assets | 0.035 | |
| Debt To Assets QoQ | 8.594 % | |
| Debt To Assets YoY | -0.702 % | |
| Debt To Assets IPRWA | high: 0.14 median: 0.056 mean: 0.054 UVE: 0.035 low: 0.011 |
|
| Debt To Equity | 0.182 | |
| Debt To Equity QoQ | -10.331 % | |
| Debt To Equity YoY | -32.774 % | |
| Debt To Equity IPRWA | high: 0.705 mean: 0.229 median: 0.227 UVE: 0.182 low: 0.041 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.577 | |
| Price To Book QoQ | 5.309 % | |
| Price To Book YoY | 4.501 % | |
| Price To Book IPRWA | high: 6.563 mean: 2.587 median: 1.861 UVE: 1.577 low: 0.322 |
|
| Price To Earnings (P/E) | 14.297 | |
| Price To Earnings QoQ | -26.43 % | |
| Price To Earnings YoY | -82.17 % | |
| Price To Earnings IPRWA | high: 103.837 mean: 40.938 median: 39.904 UVE: 14.297 low: 12.348 |
|
| PE/G Ratio | 0.24 | |
| Price To Sales (P/S) | 2.13 | |
| Price To Sales QoQ | 15.224 % | |
| Price To Sales YoY | 45.533 % | |
| Price To Sales IPRWA | high: 24.822 mean: 6.101 median: 5.676 UVE: 2.13 low: 1.58 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 31.499 | |
| Forward PE/G | 0.529 | |
| Forward P/S | 20.257 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 37.994 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.138 | |
| Asset Turnover Ratio QoQ | 9.215 % | |
| Asset Turnover Ratio YoY | -1.798 % | |
| Asset Turnover Ratio IPRWA | high: 0.186 UVE: 0.138 mean: 0.111 median: 0.087 low: 0.018 |
|
| Receivables Turnover | 1.154 | |
| Receivables Turnover Ratio QoQ | 24.314 % | |
| Receivables Turnover Ratio YoY | 39.155 % | |
| Receivables Turnover Ratio IPRWA | high: 1.703 UVE: 1.154 mean: 0.717 median: 0.604 low: 0.073 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 79.075 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 79.075 | |
| Cash Conversion Cycle Days QoQ | -19.559 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 869.017 mean: 134.466 median: 80.405 UVE: 79.075 low: 53.57 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.003 | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 651.5 M | |
| Net Invested Capital | $ 651.5 M | |
| Invested Capital | $ 651.5 M | |
| Net Tangible Assets | $ 551.0 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 | 1.064 % | |
| Interest Coverage Ratio | 63.201 | |
| Interest Coverage Ratio QoQ | 66.273 % | |
| Interest Coverage Ratio YoY | 932.956 % | |
| Interest Coverage Ratio IPRWA | high: 143.716 UVE: 63.201 mean: 38.635 median: 37.5 low: -0.5 |
|
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 7.971 | |
| Dividend Payout Ratio | 0.125 | |
| Dividend Rate | $ 0.30 | |
| Dividend Yield | 0.01 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -8.09 % | |
| Revenue Growth | 1.732 % | |
| Revenue Growth QoQ | 724.762 % | |
| Revenue Growth YoY | -344.633 % | |
| Revenue Growth IPRWA | high: 21.706 % mean: 3.754 % median: 1.888 % UVE: 1.732 % low: -4.36 % |
|
| Earnings Growth | 59.559 % | |
| Earnings Growth QoQ | 463.525 % | |
| Earnings Growth YoY | -144.365 % | |
| Earnings Growth IPRWA | UVE: 59.559 % high: 47.959 % median: 5.18 % mean: 4.684 % low: -43.137 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | 22.031 % | |
| EBIT Margin QoQ | 62.975 % | |
| EBIT Margin YoY | 865.425 % | |
| EBIT Margin IPRWA | high: 58.862 % UVE: 22.031 % mean: 20.861 % median: 16.497 % low: -17.243 % |
|
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 25.0 M | |
| Free Cash Flow Yield | 2.877 % | |
| Free Cash Flow Yield QoQ | -65.191 % | |
| Free Cash Flow Yield YoY | -115.85 % | |
| Free Cash Flow Yield IPRWA | high: 13.218 % mean: 3.503 % median: 3.288 % UVE: 2.877 % low: -0.038 % |
|
| Free Cash Growth | -59.188 % | |
| Free Cash Growth QoQ | 41.632 % | |
| Free Cash Growth YoY | -73.842 % | |
| Free Cash Growth IPRWA | high: 101.01 % mean: -31.331 % median: -36.48 % UVE: -59.188 % low: -102.239 % |
|
| Free Cash To Net Income | 0.375 | |
| Cash Flow Margin | -21.635 % | |
| Cash Flow To Earnings | 0.392 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 2.246 % | |
| Return On Assets QoQ | 79.536 % | |
| Return On Assets YoY | 925.571 % | |
| Return On Assets IPRWA | high: 4.006 % UVE: 2.246 % mean: 1.757 % median: 1.737 % low: -1.129 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.121 | |
| Return On Equity QoQ | 50.186 % | |
| Return On Equity YoY | 649.628 % | |
| Return On Equity IPRWA | high: 0.134 UVE: 0.121 median: 0.076 mean: 0.069 low: -0.041 |
|
| DuPont ROE | 12.732 % | |
| Return On Invested Capital (ROIC) | 10.385 % | |
| Return On Invested Capital QoQ | 51.164 % | |
| Return On Invested Capital YoY | -559.31 % | |
| Return On Invested Capital IPRWA | high: 10.813 % UVE: 10.385 % median: 6.141 % mean: 5.966 % low: -2.346 % |
|