Recent News
On April 1, 2026, brokerage coverage aggregated to an average 12‑month price target near $68.60; several firms updated targets after the company’s year‑end disclosures. On January 26, 2026, Truist reiterated a coverage view and published a $71 target for the shares.
Technical Analysis
Directional indicators show an ADX at 24.68, indicating an emerging trend strength while the negative directional index remains dominant; DI‑ sits at 32.31 and is increasing (bearish), while DI+ registered a recent dip‑and‑reversal at 19.66 (bullish by reversal mechanics). The net effect points to emerging downward pressure despite a transient DI+ recovery, which aligns with heightened caution for near‑term price action.
MACD reads -1.70 with a declining trend and sits below the signal line (-0.65), producing bearish momentum. That negative and falling MACD aligns with the immediate technical bias toward consolidation or pullback unless MACD reverses and crosses above its signal.
MRO stands at 4.9 with a peak‑and‑reversal pattern; the oscillator’s positive value implies the price presently sits above short‑term target estimates and therefore contains a tendency to ease. The MRO magnitude signals only modest potential for mean reversion rather than an extreme imbalance.
RSI at 47.42 and trending down indicates neutral-to-slightly‑bearish momentum rather than oversold conditions; the index offers no immediate bullish divergence to offset other bearish cues.
Price sits below the 12/26/50/200‑day averages and EMAs (price close $54.52 versus 12‑day EMA $56.60, 26‑day EMA $58.69, 50‑day $59.62 and 200‑day $59.69), reinforcing short‑term downside pressure. Ichimoku baselines (Tenkan/Kijun near $57–61) lie above the current price, and the super trend upper level at $58.23 acts as a proximate resistance reference for any recovery attempt. Bollinger band spacing reflects moderate volatility around the mid‑$50s band.
Fundamental Analysis
Earnings and margins: EPS came in at $0.23 versus an estimate of $0.13, a beat of $0.10 representing a 76.92% surprise. Operating income sits at $20,000,000 with EBIT of $22,000,000 and an EBIT margin of 5.08%, which measures above the industry peer mean but below the industry peer median. QoQ change in EBIT margin equals -80.65%, while YoY EBIT margin improved by 14.46%—a sharp sequential swing that reflects recent cost and mix effects rather than a steady trend.
Profitability and cash flow: Gross margin registers 49.19% and operating margin 4.62%; net income totaled $2,000,000. Free cash flow reached $95,000,000 with a free cash flow yield of 2.32% and operating cash flow of $101,000,000, demonstrating meaningful cash conversion relative to reported earnings. Cash and short‑term investments stand at $566,000,000, providing substantial liquidity versus $1,191,000,000 total debt and net debt of $607,000,000.
Leverage and returns: Debt to EBITDA sits near 26.5x and debt to equity near 4.92x, while asset‑to‑equity at 8.85 signals material financial leverage. Return on equity equals approximately 0.83% and return on assets about 0.09%, both low on an absolute basis and reflecting heavy leverage with modest earnings. Interest coverage near 1.1x constrains margin for higher rates or operating stress.
Growth and efficiency: Reported total revenue reached $433,000,000 with YoY revenue growth near 2.11% while trailing revenue growth measures negative on the latest quarterly cadence. Asset turnover sits at 0.198, above the industry peer mean, which supports revenue generation from invested assets even as QoQ activity slowed.
Valuation view: Price multiples show a trailing P/E of roughly 250.6x and a forward P/E near 46.4x, while price‑to‑sales stands about 9.45x. The current WMDST valuation assessment classifies the equity as over‑valued given stretched trailing multiples, elevated leverage metrics, and modest reported returns despite strong cash generation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-26 |
| NEXT REPORT DATE: | 2026-05-28 |
| CASH FLOW | Begin Period Cash Flow | $ 563.0 M |
| Operating Cash Flow | $ 101.0 M | |
| Capital Expenditures | $ -6.00 M | |
| Change In Working Capital | $ 70.0 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 3.0 M | |
| End Period Cash Flow | $ 566.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 433.0 M | |
| Forward Revenue | $ 4.8 B | |
| COSTS | ||
| Cost Of Revenue | $ 220.0 M | |
| Depreciation | $ 23.0 M | |
| Depreciation and Amortization | $ 23.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 413.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 213.0 M | |
| EBITDA | $ 45.0 M | |
| EBIT | $ 22.0 M | |
| Operating Income | $ 20.0 M | |
| Interest Income | $ 6.0 M | |
| Interest Expense | $ 20.0 M | |
| Net Interest Income | $ -14.00 M | |
| Income Before Tax | $ 2.0 M | |
| Tax Provision | $ 1.0 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 2.0 M | |
| Net Income From Continuing Operations | $ 2.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.13 | |
| EPS Actual | $ 0.23 | |
| EPS Difference | $ 0.10 | |
| EPS Surprise | 76.923 % | |
| Forward EPS | $ 1.24 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.1 B | |
| Intangible Assets | $ 1.4 B | |
| Net Tangible Assets | $ -1.12 B | |
| Total Current Assets | $ 624.0 M | |
| Cash and Short-Term Investments | $ 566.0 M | |
| Cash | $ 566.0 M | |
| Net Receivables | $ 10.0 M | |
| Inventory | — | |
| Long-Term Investments | $ 17.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 89.0 M | |
| Short-Term Debt | $ 29.0 M | |
| Total Current Liabilities | $ 402.0 M | |
| Net Debt | $ 607.0 M | |
| Total Debt | $ 1.2 B | |
| Total Liabilities | $ 1.9 B | |
| EQUITY | ||
| Total Equity | $ 242.0 M | |
| Retained Earnings | $ 785.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 3.41 | |
| Shares Outstanding | 70.958 M | |
| Revenue Per-Share | $ 6.10 | |
| VALUATION | Market Capitalization | $ 4.1 B |
| Enterprise Value | $ 4.7 B | |
| Enterprise Multiple | 104.774 | |
| Enterprise Multiple QoQ | 263.874 % | |
| Enterprise Multiple YoY | -24.601 % | |
| Enterprise Multiple IPRWA | FTDR: 104.774 high: 99.527 median: 44.301 mean: 39.06 low: -30.533 |
|
| EV/R | 10.889 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 8.851 | |
| Asset To Liability | 1.127 | |
| Debt To Capital | 0.831 | |
| Debt To Assets | 0.556 | |
| Debt To Assets QoQ | 3.361 % | |
| Debt To Assets YoY | 3940.843 % | |
| Debt To Assets IPRWA | high: 1.002 FTDR: 0.556 mean: 0.499 median: 0.411 low: 0.28 |
|
| Debt To Equity | 4.921 | |
| Debt To Equity QoQ | 29.816 % | |
| Debt To Equity YoY | 3955.95 % | |
| Debt To Equity IPRWA | FTDR: 4.921 high: 3.184 median: 2.169 mean: 1.079 low: -3.566 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 16.9 | |
| Price To Book QoQ | 14.526 % | |
| Price To Book YoY | -6.02 % | |
| Price To Book IPRWA | FTDR: 16.9 high: 6.864 median: 4.022 mean: 2.78 low: -6.72 |
|
| Price To Earnings (P/E) | 250.596 | |
| Price To Earnings QoQ | 515.028 % | |
| Price To Earnings YoY | 18.567 % | |
| Price To Earnings IPRWA | FTDR: 250.596 high: 84.205 median: 70.619 mean: 50.602 low: -23.715 |
|
| PE/G Ratio | -2.933 | |
| Price To Sales (P/S) | 9.445 | |
| Price To Sales QoQ | 24.977 % | |
| Price To Sales YoY | -15.829 % | |
| Price To Sales IPRWA | high: 27.813 mean: 13.638 median: 10.117 FTDR: 9.445 low: 6.481 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 46.372 | |
| Forward PE/G | -0.543 | |
| Forward P/S | 0.859 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 2.898 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.198 | |
| Asset Turnover Ratio QoQ | -29.342 % | |
| Asset Turnover Ratio YoY | -13.99 % | |
| Asset Turnover Ratio IPRWA | FTDR: 0.198 high: 0.189 mean: 0.094 median: 0.072 low: 0.06 |
|
| Receivables Turnover | 43.3 | |
| Receivables Turnover Ratio QoQ | -29.822 % | |
| Receivables Turnover Ratio YoY | -9.556 % | |
| Receivables Turnover Ratio IPRWA | FTDR: 43.3 high: 11.449 median: 11.449 mean: 8.39 low: 2.714 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 2.107 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -31.247 | |
| Cash Conversion Cycle Days QoQ | -11.307 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 113.64 mean: 8.851 median: 2.72 FTDR: -31.247 low: -80.186 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.95 | |
| CapEx To Revenue | -0.014 | |
| CapEx To Depreciation | -0.261 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.4 B | |
| Net Invested Capital | $ 1.4 B | |
| Invested Capital | $ 1.4 B | |
| Net Tangible Assets | $ -1.12 B | |
| Net Working Capital | $ 222.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.408 | |
| Current Ratio | 1.552 | |
| Current Ratio QoQ | -10.439 % | |
| Current Ratio YoY | 17.373 % | |
| Current Ratio IPRWA | FTDR: 1.552 high: 1.285 mean: 0.735 median: 0.552 low: 0.522 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 26.467 | |
| Cost Of Debt | 1.323 % | |
| Interest Coverage Ratio | 1.1 | |
| Interest Coverage Ratio QoQ | -86.42 % | |
| Interest Coverage Ratio YoY | -28.823 % | |
| Interest Coverage Ratio IPRWA | high: 4.294 median: 3.909 FTDR: 1.1 mean: 0.075 low: -12.655 |
|
| Operating Cash Flow Ratio | 0.025 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 33.355 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -3.817 % | |
| Revenue Growth | -29.822 % | |
| Revenue Growth QoQ | — | |
| Revenue Growth YoY | 2.113 % | |
| Revenue Growth IPRWA | high: 5.05 % median: 2.667 % mean: -0.022 % low: -8.609 % FTDR: -29.822 % |
|
| Earnings Growth | -85.443 % | |
| Earnings Growth QoQ | 2685.882 % | |
| Earnings Growth YoY | 6.226 % | |
| Earnings Growth IPRWA | high: 53.333 % median: 31.034 % mean: 22.555 % low: -26.752 % FTDR: -85.443 % |
|
| MARGINS | ||
| Gross Margin | 49.192 % | |
| Gross Margin QoQ | -14.018 % | |
| Gross Margin YoY | 1.84 % | |
| Gross Margin IPRWA | FTDR: 49.192 % high: 34.751 % median: 28.04 % mean: 2.227 % low: -70.93 % |
|
| EBIT Margin | 5.081 % | |
| EBIT Margin QoQ | -80.648 % | |
| EBIT Margin YoY | 14.463 % | |
| EBIT Margin IPRWA | high: 24.777 % median: 23.255 % FTDR: 5.081 % mean: -21.664 % low: -148.767 % |
|
| Return On Sales (ROS) | 4.619 % | |
| Return On Sales QoQ | -81.848 % | |
| Return On Sales YoY | 4.055 % | |
| Return On Sales IPRWA | high: 25.012 % median: 22.915 % FTDR: 4.619 % mean: -21.928 % low: -150.292 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 95.0 M | |
| Free Cash Flow Yield | 2.323 % | |
| Free Cash Flow Yield QoQ | 86.736 % | |
| Free Cash Flow Yield YoY | 99.742 % | |
| Free Cash Flow Yield IPRWA | FTDR: 2.323 % high: 2.129 % median: 1.175 % mean: -1.747 % low: -11.743 % |
|
| Free Cash Growth | 63.793 % | |
| Free Cash Growth QoQ | -223.47 % | |
| Free Cash Growth YoY | -69.98 % | |
| Free Cash Growth IPRWA | high: 75.527 % FTDR: 63.793 % median: -0.253 % mean: -72.383 % low: -370.141 % |
|
| Free Cash To Net Income | 47.5 | |
| Cash Flow Margin | 2.309 % | |
| Cash Flow To Earnings | 5.0 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.092 % | |
| Return On Assets QoQ | -98.091 % | |
| Return On Assets YoY | -83.026 % | |
| Return On Assets IPRWA | high: 0.913 % median: 0.861 % FTDR: 0.092 % mean: -1.529 % low: -8.725 % |
|
| Return On Capital Employed (ROCE) | 1.264 % | |
| Return On Equity (ROE) | 0.008 | |
| Return On Equity QoQ | -97.538 % | |
| Return On Equity YoY | -78.067 % | |
| Return On Equity IPRWA | high: 0.294 mean: 0.124 median: 0.097 low: 0.016 FTDR: 0.008 |
|
| DuPont ROE | 0.717 % | |
| Return On Invested Capital (ROIC) | 1.228 % | |
| Return On Invested Capital QoQ | -84.717 % | |
| Return On Invested Capital YoY | -137.212 % | |
| Return On Invested Capital IPRWA | high: 3.055 % median: 2.202 % FTDR: 1.228 % mean: -1.491 % low: -13.885 % |
|