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On January 26, 2026 the company declared a quarterly cash dividend of $0.28 per share, payable February 19, 2026 (record date February 5), a 5.7% increase versus the prior quarterly payout. Market coverage reiterated the dividend raise and the company’s commitment to disciplined capital allocation.
Technical Analysis
Directional indicators: ADX at 27.87 indicates a strong trend environment; both DI+ and DI- are trending lower, with DI- remaining above DI+ (32.22 vs. 16.99), which signals waning bearish pressure and a transitionary phase that can support near-term upside against the current valuation backdrop.
MACD: MACD shows a dip & reversal, indicating early bullish momentum as the oscillator turns up from recent lows; MACD remains negative at -2.05 and below the signal line (-1.85), so momentum recovery has begun but lacks confirmation from a signal-line crossover.
MRO: MRO sits at -34.07 (negative), implying the price trades below the target and therefore carries potential upward adjustment; however, the MRO trend registered a peak & reversal, signaling recent waning momentum that tempers that upside potential.
RSI and short-term momentum: RSI at 47.29 has completed a dip & reversal and trends upward into a neutral band, supporting a measured bullish bias in the near term while leaving room before overbought conditions emerge.
Price structure and moving averages: Last close $93.38 sits just above the 12-day EMA ($92.93) and the 20-day average ($92.96) — both showing dip & reversal — but below the 50-day ($98.64) and 200-day ($95.23) averages. Price remains inside the Bollinger band range (lower ~$90.36; upper ~$95.56), with the SuperTrend upper band near $96.49 acting as the nearest technical ceiling for a sustained move higher.
Volume and volatility: Recent volume (≈292k) tracks slightly below the 10-day average (≈302k) while 42-day volatility (3%) remains modest; the technical picture favors controlled consolidation with a bias toward re-test of the $95–$97 resistance zone if momentum continues to recover.
Fundamental Analysis
Top-line and margins: Total revenue $506.9M for the period with YoY revenue growth of 49.67% and QoQ revenue change of 12.21%, reflecting a strong year-over-year cadence and sequential improvement. Operating income (EBIT) $51,182,000 yields an EBIT margin of 10.10%. EBIT margin rose ~16.58% YoY and expanded ~117.35% QoQ, indicating meaningful margin recovery versus prior periods; that margin, however, sits below the industry peer mean of 19.80% and the industry peer median of 24.86%.
Profitability and returns: Return on equity registers 2.97% while return on assets measures 1.99%; both improved sequentially but remain below comparable industry peer means. Net income $39,250,000 and diluted EPS $0.87 missed consensus by about 2.25% (estimate $0.89), matching the slight downside in reported per-share results.
Cash flow and balance sheet: Operating cash flow $104.19M and free cash flow $88.67M produce a free cash flow yield of 2.01%, which sits above the industry peer mean of 0.86% and supports the company’s capital return policy. Cash conversion ratio near 82.47% and a current ratio of 2.79 provide working capital flexibility; cash & short-term investments $99.66M versus net debt $67.35M leave net leverage modest (debt-to-equity ~17.69%).
Capital allocation and payout: Dividend payout ratio stands near 32.65% with dividend coverage ~3.06; the recently declared quarterly dividend increase to $0.28 (payment Feb 19, 2026) aligns with cash generation and reflects continued emphasis on shareholder returns. WMDST values the stock as under-valued based on cash generation and relative valuation metrics.
Valuation context: Trailing P/E of 114.95 contrasts with a forward P/E near 74.58 (forward EPS $1.281), while price-to-book at 3.34 ranks below the industry peer mean of 5.12. The enterprise-to-revenue and free-cash metrics point to a mixed signal set: elevated trailing multiples coexist with above-average free cash flow yield, supporting the WMDST under-valued assessment when balanced against margin improvement and cash conversion strength.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-17 |
| NEXT REPORT DATE: | 2026-05-19 |
| CASH FLOW | Begin Period Cash Flow | $ 102.9 M |
| Operating Cash Flow | $ 104.2 M | |
| Capital Expenditures | $ -15.52 M | |
| Change In Working Capital | $ 48.7 M | |
| Dividends Paid | $ -12.81 M | |
| Cash Flow Delta | $ -3.27 M | |
| End Period Cash Flow | $ 99.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 506.9 M | |
| Forward Revenue | $ 182.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 335.4 M | |
| Depreciation | $ 16.6 M | |
| Depreciation and Amortization | $ 16.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 455.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 171.5 M | |
| EBITDA | $ 67.8 M | |
| EBIT | $ 51.2 M | |
| Operating Income | $ 51.9 M | |
| Interest Income | — | |
| Interest Expense | $ 2.5 M | |
| Net Interest Income | $ -2.54 M | |
| Income Before Tax | $ 48.6 M | |
| Tax Provision | $ 9.1 M | |
| Tax Rate | 18.684 % | |
| Net Income | $ 39.2 M | |
| Net Income From Continuing Operations | $ 39.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.89 | |
| EPS Actual | $ 0.87 | |
| EPS Difference | $ -0.02 | |
| EPS Surprise | -2.247 % | |
| Forward EPS | $ 1.28 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.9 B | |
| Intangible Assets | $ 649.8 M | |
| Net Tangible Assets | $ 672.8 M | |
| Total Current Assets | $ 958.6 M | |
| Cash and Short-Term Investments | $ 99.7 M | |
| Cash | $ 99.7 M | |
| Net Receivables | $ 247.5 M | |
| Inventory | $ 553.0 M | |
| Long-Term Investments | $ 9.3 M | |
| LIABILITIES | ||
| Accounts Payable | $ 175.0 M | |
| Short-Term Debt | $ 31.8 M | |
| Total Current Liabilities | $ 344.0 M | |
| Net Debt | $ 67.3 M | |
| Total Debt | $ 234.0 M | |
| Total Liabilities | $ 617.4 M | |
| EQUITY | ||
| Total Equity | $ 1.3 B | |
| Retained Earnings | $ 1.1 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 29.94 | |
| Shares Outstanding | 44.178 M | |
| Revenue Per-Share | $ 11.47 | |
| VALUATION | Market Capitalization | $ 4.4 B |
| Enterprise Value | $ 4.6 B | |
| Enterprise Multiple | 67.144 | |
| Enterprise Multiple QoQ | -34.346 % | |
| Enterprise Multiple YoY | -15.743 % | |
| Enterprise Multiple IPRWA | high: 81.749 median: 81.749 mean: 71.167 FELE: 67.144 low: -66.921 |
|
| EV/R | 8.981 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.47 | |
| Asset To Liability | 3.15 | |
| Debt To Capital | 0.15 | |
| Debt To Assets | 0.12 | |
| Debt To Assets QoQ | -11.207 % | |
| Debt To Assets YoY | 85.984 % | |
| Debt To Assets IPRWA | high: 0.345 mean: 0.196 median: 0.146 FELE: 0.12 low: 0.011 |
|
| Debt To Equity | 0.177 | |
| Debt To Equity QoQ | -13.865 % | |
| Debt To Equity YoY | 90.145 % | |
| Debt To Equity IPRWA | high: 1.057 mean: 0.371 median: 0.221 FELE: 0.177 low: 0.014 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.34 | |
| Price To Book QoQ | 3.87 % | |
| Price To Book YoY | -7.879 % | |
| Price To Book IPRWA | high: 9.542 mean: 5.125 median: 4.457 FELE: 3.34 low: -1.578 |
|
| Price To Earnings (P/E) | 114.946 | |
| Price To Earnings QoQ | 56.918 % | |
| Price To Earnings YoY | -17.588 % | |
| Price To Earnings IPRWA | high: 155.616 median: 119.549 FELE: 114.946 mean: 106.534 low: -59.489 |
|
| PE/G Ratio | -3.475 | |
| Price To Sales (P/S) | 8.716 | |
| Price To Sales QoQ | 19.631 % | |
| Price To Sales YoY | -7.777 % | |
| Price To Sales IPRWA | high: 23.703 median: 23.703 mean: 18.479 FELE: 8.716 low: 0.955 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 74.577 | |
| Forward PE/G | -2.255 | |
| Forward P/S | 24.177 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -6.944 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.257 | |
| Asset Turnover Ratio QoQ | -11.244 % | |
| Asset Turnover Ratio YoY | -3.966 % | |
| Asset Turnover Ratio IPRWA | high: 0.367 FELE: 0.257 mean: 0.179 median: 0.124 low: 0.004 |
|
| Receivables Turnover | 1.882 | |
| Receivables Turnover Ratio QoQ | -1.912 % | |
| Receivables Turnover Ratio YoY | -3.375 % | |
| Receivables Turnover Ratio IPRWA | high: 2.074 FELE: 1.882 mean: 1.835 median: 1.772 low: 1.094 |
|
| Inventory Turnover | 0.598 | |
| Inventory Turnover Ratio QoQ | -8.44 % | |
| Inventory Turnover Ratio YoY | -6.253 % | |
| Inventory Turnover Ratio IPRWA | high: 1.499 median: 1.131 mean: 1.09 FELE: 0.598 low: 0.36 |
|
| Days Sales Outstanding (DSO) | 48.491 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 141.626 | |
| Cash Conversion Cycle Days QoQ | 2.124 % | |
| Cash Conversion Cycle Days YoY | 3.149 % | |
| Cash Conversion Cycle Days IPRWA | high: 342.062 FELE: 141.626 median: 91.554 mean: 86.995 low: 28.845 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.825 | |
| CapEx To Revenue | -0.031 | |
| CapEx To Depreciation | -0.934 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.5 B | |
| Net Invested Capital | $ 1.5 B | |
| Invested Capital | $ 1.5 B | |
| Net Tangible Assets | $ 672.8 M | |
| Net Working Capital | $ 614.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.29 | |
| Current Ratio | 2.786 | |
| Current Ratio QoQ | 9.834 % | |
| Current Ratio YoY | 25.339 % | |
| Current Ratio IPRWA | high: 5.298 FELE: 2.786 mean: 1.598 low: 1.062 median: 1.062 |
|
| Quick Ratio | 1.179 | |
| Quick Ratio QoQ | 5.581 % | |
| Quick Ratio YoY | 6.467 % | |
| Quick Ratio IPRWA | high: 4.1 FELE: 1.179 mean: 1.047 low: 0.673 median: 0.673 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 3.452 | |
| Cost Of Debt | 0.819 % | |
| Interest Coverage Ratio | 20.142 | |
| Interest Coverage Ratio QoQ | 160.528 % | |
| Interest Coverage Ratio YoY | -35.897 % | |
| Interest Coverage Ratio IPRWA | high: 21.707 median: 21.707 FELE: 20.142 mean: 17.474 low: -37.803 |
|
| Operating Cash Flow Ratio | 0.305 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 44.123 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 3.063 | |
| Dividend Payout Ratio | 0.327 | |
| Dividend Rate | $ 0.29 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.653 % | |
| Revenue Growth | -12.869 % | |
| Revenue Growth QoQ | 1221.253 % | |
| Revenue Growth YoY | 49.674 % | |
| Revenue Growth IPRWA | high: 11.833 % median: 5.59 % mean: 2.047 % FELE: -12.869 % low: -19.126 % |
|
| Earnings Growth | -33.077 % | |
| Earnings Growth QoQ | 4235.125 % | |
| Earnings Growth YoY | -14.001 % | |
| Earnings Growth IPRWA | high: 30.263 % mean: -3.086 % median: -8.466 % FELE: -33.077 % low: -55.556 % |
|
| MARGINS | ||
| Gross Margin | 33.835 % | |
| Gross Margin QoQ | -5.692 % | |
| Gross Margin YoY | 0.068 % | |
| Gross Margin IPRWA | high: 48.422 % mean: 36.466 % median: 36.049 % FELE: 33.835 % low: -20.898 % |
|
| EBIT Margin | 10.098 % | |
| EBIT Margin QoQ | 117.348 % | |
| EBIT Margin YoY | 16.578 % | |
| EBIT Margin IPRWA | high: 25.304 % median: 24.863 % mean: 19.802 % FELE: 10.098 % low: -50.815 % |
|
| Return On Sales (ROS) | 10.239 % | |
| Return On Sales QoQ | -30.119 % | |
| Return On Sales YoY | 18.206 % | |
| Return On Sales IPRWA | high: 25.304 % median: 25.294 % mean: 20.228 % FELE: 10.239 % low: -42.371 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 88.7 M | |
| Free Cash Flow Yield | 2.007 % | |
| Free Cash Flow Yield QoQ | -6.825 % | |
| Free Cash Flow Yield YoY | -5.464 % | |
| Free Cash Flow Yield IPRWA | high: 3.828 % FELE: 2.007 % median: 1.113 % mean: 0.856 % low: -9.584 % |
|
| Free Cash Growth | -2.86 % | |
| Free Cash Growth QoQ | -102.219 % | |
| Free Cash Growth YoY | -66.667 % | |
| Free Cash Growth IPRWA | high: 199.541 % median: 25.554 % FELE: -2.86 % mean: -4.443 % low: -318.157 % |
|
| Free Cash To Net Income | 2.259 | |
| Cash Flow Margin | 20.699 % | |
| Cash Flow To Earnings | 2.673 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 1.991 % | |
| Return On Assets QoQ | 138.729 % | |
| Return On Assets YoY | 7.332 % | |
| Return On Assets IPRWA | high: 3.583 % mean: 2.527 % median: 2.472 % FELE: 1.991 % low: -12.999 % |
|
| Return On Capital Employed (ROCE) | 3.198 % | |
| Return On Equity (ROE) | 0.03 | |
| Return On Equity QoQ | 133.701 % | |
| Return On Equity YoY | 11.663 % | |
| Return On Equity IPRWA | high: 0.251 mean: 0.046 median: 0.037 FELE: 0.03 low: -0.707 |
|
| DuPont ROE | 2.973 % | |
| Return On Invested Capital (ROIC) | 2.794 % | |
| Return On Invested Capital QoQ | 115.254 % | |
| Return On Invested Capital YoY | -108.103 % | |
| Return On Invested Capital IPRWA | high: 5.302 % mean: 3.499 % median: 3.236 % FELE: 2.794 % low: -14.79 % |
|