Recent News
On December 8, 2025 the Board approved a special cash dividend; the company announced a $3.00 per-share special cash dividend alongside the regular quarterly payout, producing a combined distribution of $3.35 per share in mid-January 2026. Additional corporate filings in the period note routine executive staffing updates disclosed around the same timeframe.
Technical Analysis
Directional indicators present a bullish structure in isolation: DI+ shows a dip & reversal and DI- shows a peak & reversal, which both signal bullish directional pressure; however ADX at 16.88 classifies the market as having no trend, implying limited follow-through for directional moves and a greater likelihood of consolidation around current levels.
MACD reads -0.48 and the MACD trend is decreasing with the MACD below its signal line (-0.21), a bearish momentum profile that argues price momentum remains negative and that downside pressure could persist absent a MACD crossover above the signal line.
MRO equals -4.76 and the MRO trend shows increasing values; the negative MRO indicates the price sits below the model target and therefore carries measured upside potential, while the increasing MRO trend reduces the magnitude of that shortfall and suggests the upside potential may firm if other momentum signals turn constructive.
RSI at 45.74 with a decreasing trend signals waning short-term buying momentum and leaves the stock in neutral-to-slightly-weak territory rather than oversold, supporting a range-bound near-term posture unless momentum indicators re-accelerate.
Price relationships favor the bears: the last close of $50.28 sits beneath the 20-day average ($52.05) and the 200-day average ($52.79), and the 12-day EMA is trending down, reinforcing short-term supply pressure. Price also trades marginally below the 1x lower Bollinger band ($50.34), indicating a modest intraday extension below short-term volatility bands. Volume printed at 669,318, above the 10-day average of 417,906 and the 200-day average of 490,616, suggesting recent moves carry above-average participation even as directional conviction remains mixed.
Fundamental Analysis
Operating performance remains a relative strength. EBIT of $60,914,000 produces an EBIT margin of 18.99%, a level marginally above the industry peer high of 18.83%; EBIT margin improved roughly 3.03 percentage points QoQ and about 2.32 percentage points YoY, supporting the company’s capacity to convert sales into operating profit.
Revenue totaled $320,837,000 with YoY revenue growth of 24.25% but a pronounced QoQ contraction of 60.02%, reflecting strong year-over-year expansion with short-term seasonality or timing effects quarter-to-quarter. Net income reached $48,700,000 and EPS came in at $1.59 versus an estimate of $1.51, an EPS surprise of about 5.30%.
Cash and liquidity sit comfortably above near-term obligations: cash and short-term investments total $340,145,000, current ratio equals 2.21, quick ratio 1.53 and cash ratio 1.39, providing ample liquidity to support dividends and capex. Free cash flow totaled $38,387,000 with a free cash flow yield of 1.36%; free cash growth shows a short-term decline QoQ but positive year-over-year growth.
Leverage metrics remain manageable but warrant attention: total debt equals $374,900,000 with debt-to-equity of 0.73 and debt-to-EBITDA about 5.59x; interest coverage stands high at 19.41x. Return metrics show ROE at 9.54% and ROA at 4.62%, reflecting steady returns on capital but not elevated multiples of profitability.
Valuation presents a mixed picture. Price-to-book stands at 5.53, above the industry peer mean of 3.63 and median of 3.06, while the trailing PE of 57.50 sits below the industry peer mean and median provided in peer data. Enterprise value metrics (EVR 8.91 and enterprise multiple ~42.60) and a WMDST determination that the stock is under-valued create a valuation tension: higher book and sales multiples contrast with WMDST’s under-valued assessment based on cash generation, balance-sheet strength, and the one-time capital return event.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-10-31 |
| REPORT DATE: | 2026-03-13 |
| NEXT REPORT DATE: | 2026-06-12 |
| CASH FLOW | Begin Period Cash Flow | $ 297.8 M |
| Operating Cash Flow | $ 49.4 M | |
| Capital Expenditures | $ -11.06 M | |
| Change In Working Capital | $ -8.61 M | |
| Dividends Paid | $ -17.90 M | |
| Cash Flow Delta | $ 18.3 M | |
| End Period Cash Flow | $ 316.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 320.8 M | |
| Forward Revenue | $ 95.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 166.9 M | |
| Depreciation | $ 6.2 M | |
| Depreciation and Amortization | $ 6.2 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 259.9 M | |
| PROFITABILITY | ||
| Gross Profit | $ 153.9 M | |
| EBITDA | $ 67.1 M | |
| EBIT | $ 60.9 M | |
| Operating Income | $ 60.9 M | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | $ 64.5 M | |
| Tax Provision | $ 15.8 M | |
| Tax Rate | 24.5 % | |
| Net Income | $ 48.7 M | |
| Net Income From Continuing Operations | $ 48.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.51 | |
| EPS Actual | $ 1.59 | |
| EPS Difference | $ 0.08 | |
| EPS Surprise | 5.298 % | |
| Forward EPS | $ 1.14 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.1 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 510.7 M | |
| Total Current Assets | $ 539.1 M | |
| Cash and Short-Term Investments | $ 340.1 M | |
| Cash | $ 316.2 M | |
| Net Receivables | $ 8.2 M | |
| Inventory | $ 165.8 M | |
| Long-Term Investments | $ 13.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 81.4 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 244.4 M | |
| Net Debt | — | |
| Total Debt | $ 374.9 M | |
| Total Liabilities | $ 567.6 M | |
| EQUITY | ||
| Total Equity | $ 510.7 M | |
| Retained Earnings | $ 292.7 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 9.98 | |
| Shares Outstanding | 51.157 M | |
| Revenue Per-Share | $ 6.27 | |
| VALUATION | Market Capitalization | $ 2.8 B |
| Enterprise Value | $ 2.9 B | |
| Enterprise Multiple | 42.605 | |
| Enterprise Multiple QoQ | 5.333 % | |
| Enterprise Multiple YoY | 38.469 % | |
| Enterprise Multiple IPRWA | high: 135.997 median: 79.36 mean: 72.612 BKE: 42.605 low: -9.179 |
|
| EV/R | 8.91 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.111 | |
| Asset To Liability | 1.9 | |
| Debt To Capital | 0.423 | |
| Debt To Assets | 0.348 | |
| Debt To Assets QoQ | -4.837 % | |
| Debt To Assets YoY | 341.012 % | |
| Debt To Assets IPRWA | high: 1.07 median: 0.513 mean: 0.486 BKE: 0.348 low: 0.13 |
|
| Debt To Equity | 0.734 | |
| Debt To Equity QoQ | -6.988 % | |
| Debt To Equity YoY | 365.797 % | |
| Debt To Equity IPRWA | high: 4.879 mean: 1.577 median: 1.395 BKE: 0.734 low: -2.088 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 5.529 | |
| Price To Book QoQ | 6.542 % | |
| Price To Book YoY | 28.929 % | |
| Price To Book IPRWA | high: 8.837 BKE: 5.529 mean: 3.629 median: 3.063 low: -3.282 |
|
| Price To Earnings (P/E) | 57.498 | |
| Price To Earnings QoQ | 5.946 % | |
| Price To Earnings YoY | 22.666 % | |
| Price To Earnings IPRWA | high: 190.196 median: 123.637 mean: 102.152 BKE: 57.498 low: -123.055 |
|
| PE/G Ratio | 7.311 | |
| Price To Sales (P/S) | 8.801 | |
| Price To Sales QoQ | 8.9 % | |
| Price To Sales YoY | 23.388 % | |
| Price To Sales IPRWA | high: 13.982 BKE: 8.801 mean: 7.343 median: 7.187 low: 0.253 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 58.538 | |
| Forward PE/G | 7.443 | |
| Forward P/S | 32.706 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.643 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.305 | |
| Asset Turnover Ratio QoQ | -0.095 % | |
| Asset Turnover Ratio YoY | -0.607 % | |
| Asset Turnover Ratio IPRWA | high: 0.64 mean: 0.314 BKE: 0.305 median: 0.269 low: 0.079 |
|
| Receivables Turnover | 40.291 | |
| Receivables Turnover Ratio QoQ | 2.995 % | |
| Receivables Turnover Ratio YoY | 7.027 % | |
| Receivables Turnover Ratio IPRWA | high: 111.893 BKE: 40.291 mean: 14.526 median: 10.864 low: 0.298 |
|
| Inventory Turnover | 1.083 | |
| Inventory Turnover Ratio QoQ | -7.388 % | |
| Inventory Turnover Ratio YoY | -0.98 % | |
| Inventory Turnover Ratio IPRWA | high: 2.463 BKE: 1.083 mean: 0.694 median: 0.616 low: 0.294 |
|
| Days Sales Outstanding (DSO) | 2.265 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 46.046 | |
| Cash Conversion Cycle Days QoQ | -0.117 % | |
| Cash Conversion Cycle Days YoY | -4.404 % | |
| Cash Conversion Cycle Days IPRWA | high: 342.592 BKE: 46.046 mean: 24.42 median: 14.212 low: -161.35 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.089 | |
| CapEx To Revenue | -0.034 | |
| CapEx To Depreciation | -1.79 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 510.7 M | |
| Net Invested Capital | $ 510.7 M | |
| Invested Capital | $ 510.7 M | |
| Net Tangible Assets | $ 510.7 M | |
| Net Working Capital | $ 294.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.391 | |
| Current Ratio | 2.205 | |
| Current Ratio QoQ | 2.629 % | |
| Current Ratio YoY | -7.065 % | |
| Current Ratio IPRWA | high: 3.547 BKE: 2.205 mean: 1.156 median: 1.045 low: 0.323 |
|
| Quick Ratio | 1.527 | |
| Quick Ratio QoQ | -0.063 % | |
| Quick Ratio YoY | -8.61 % | |
| Quick Ratio IPRWA | high: 2.051 BKE: 1.527 mean: 0.301 median: 0.219 low: 0.059 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 5.588 | |
| Cost Of Debt | 0.636 % | |
| Interest Coverage Ratio | 19.406 | |
| Interest Coverage Ratio QoQ | 8.117 % | |
| Interest Coverage Ratio YoY | 11.804 % | |
| Interest Coverage Ratio IPRWA | high: 75.047 BKE: 19.406 mean: 14.28 median: 8.4 low: -15.692 |
|
| Operating Cash Flow Ratio | 0.163 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 43.724 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.72 | |
| Dividend Payout Ratio | 0.368 | |
| Dividend Rate | $ 0.35 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.835 % | |
| Revenue Growth | 4.939 % | |
| Revenue Growth QoQ | -60.018 % | |
| Revenue Growth YoY | 24.252 % | |
| Revenue Growth IPRWA | high: 39.622 % BKE: 4.939 % mean: -4.158 % median: -4.227 % low: -25.856 % |
|
| Earnings Growth | 7.865 % | |
| Earnings Growth QoQ | -71.024 % | |
| Earnings Growth YoY | -38.655 % | |
| Earnings Growth IPRWA | high: 87.591 % BKE: 7.865 % median: -16.471 % mean: -18.687 % low: -400.0 % |
|
| MARGINS | ||
| Gross Margin | 47.97 % | |
| Gross Margin QoQ | 1.141 % | |
| Gross Margin YoY | 0.555 % | |
| Gross Margin IPRWA | high: 71.35 % BKE: 47.97 % median: 44.045 % mean: 41.233 % low: 10.184 % |
|
| EBIT Margin | 18.986 % | |
| EBIT Margin QoQ | 3.028 % | |
| EBIT Margin YoY | 2.317 % | |
| EBIT Margin IPRWA | BKE: 18.986 % high: 18.832 % mean: 11.599 % median: 10.828 % low: -7.692 % |
|
| Return On Sales (ROS) | 18.986 % | |
| Return On Sales QoQ | 3.028 % | |
| Return On Sales YoY | 2.317 % | |
| Return On Sales IPRWA | high: 19.991 % BKE: 18.986 % mean: 11.644 % median: 11.014 % low: -7.69 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 38.4 M | |
| Free Cash Flow Yield | 1.359 % | |
| Free Cash Flow Yield QoQ | -27.636 % | |
| Free Cash Flow Yield YoY | -15.274 % | |
| Free Cash Flow Yield IPRWA | high: 9.132 % BKE: 1.359 % median: 0.448 % mean: 0.341 % low: -10.237 % |
|
| Free Cash Growth | -17.269 % | |
| Free Cash Growth QoQ | -112.599 % | |
| Free Cash Growth YoY | 146.7 % | |
| Free Cash Growth IPRWA | high: 382.415 % median: 19.716 % BKE: -17.269 % mean: -55.209 % low: -636.544 % |
|
| Free Cash To Net Income | 0.788 | |
| Cash Flow Margin | 12.418 % | |
| Cash Flow To Earnings | 0.818 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 4.623 % | |
| Return On Assets QoQ | 3.031 % | |
| Return On Assets YoY | 0.282 % | |
| Return On Assets IPRWA | BKE: 4.623 % high: 4.584 % median: 2.721 % mean: 2.402 % low: -2.24 % |
|
| Return On Capital Employed (ROCE) | 7.305 % | |
| Return On Equity (ROE) | 0.095 | |
| Return On Equity QoQ | 0.878 % | |
| Return On Equity YoY | 5.429 % | |
| Return On Equity IPRWA | high: 0.228 BKE: 0.095 median: 0.041 mean: 0.007 low: -0.186 |
|
| DuPont ROE | 9.869 % | |
| Return On Invested Capital (ROIC) | 9.005 % | |
| Return On Invested Capital QoQ | 0.806 % | |
| Return On Invested Capital YoY | -154.394 % | |
| Return On Invested Capital IPRWA | high: 12.426 % BKE: 9.005 % mean: 7.402 % median: 7.379 % low: -3.079 % |
|