Recent News
Late January through March brought several non-earnings developments: multiple shareholder firms announced investigations into company disclosures in late February; the company announced expanded security and data-protection alliances with Microsoft and a new collaboration with NetApp in March; Commvault confirmed participation in RSAC conferences in March; the board authorized a material share-repurchase program and executed repurchases in January.
Technical Analysis
ADX at 27.85 indicates a strong directional environment rather than absence of trend; that strength implies price action will likely follow whichever directional forces dominate in the coming weeks.
DI+ sits at 16.32 with a peak-and-reverse reading, which represents a bearish shift in positive directional momentum; DI- at 25.63 also shows a peak-and-reverse pattern, which signals a bullish shift for negative-direction momentum — the simultaneous signals produce a near-term tug-of-war that favors volatility over decisiveness.
MACD is -2.77 with a dip-and-reversal trend and currently above its signal line (-3.41), a short-term bullish momentum signal that suggests recent selling pressure may have stabilized and momentum could compress valuation multiples in the near term.
MRO reads -20.76 and shows a dip-and-reversal pattern; the negative MRO implies price sits below model fair-target levels and therefore carries measured upside potential into a mean-reversion move rather than indicating further immediate downside pressure.
RSI at 38.44 with a dip-and-reversal signature points to recent selling and a possible rebound setup if buying interest returns; price sits near the 20-day average ($78.96) and below the 50-day average ($84.85), so short-term mean reversion would initially test nearby moving-average resistance.
Price behavior and breadth indicators together suggest elevated near-term volatility: bearish directional momentum readings conflict with MACD and MRO rebound signals, implying that any rally could face resistance near the price50dayAvg and ichimoku levels while failing to decisively shift longer-term averages such as the 200-day ($139.28).
Fundamental Analysis
Revenue totaled $313,832,000 with YoY revenue growth of 13.63% and a trailing 12-month gross margin of 81.106%, reflecting strong software economics and recurring-revenue mix. QoQ revenue change showed contraction; recent quarter-level seasonality and timing appear behind the sequential dip.
EBIT measured $28,473,000 and EBIT margin stands at 9.07% (EBIT margin QoQ +59.23%, EBIT margin YoY +56.67%). That margin sits below the industry peer mean of 46.41% and below the industry peer median of 60.27%, indicating operational profitability lags peer-level margins despite improving quarter-over-quarter performance.
EPS came in at $1.17 versus an estimate of $0.98, producing a $0.19 beat and an EPS surprise of +19.39%; earnings growth shows acceleration on the latest annual comparison, though quarter-to-quarter earnings growth decelerated.
Liquidity and cash flow present mixed signals. Cash and short-term investments total $1,026,346,000 and the cash ratio equals 1.66, supporting near-term obligations. Free cash flow remains constrained at $1,926,000 and free-cash-flow yield measures near 0.03%, with free cash flow QoQ and YoY indicators signaling material contraction on a near-term basis.
Balance-sheet leverage appears elevated. Total debt equals $918,645,000, debt-to-equity sits at 4.24 and debt-to-assets at 45.07%; the debt-to-equity ratio lies above the industry peer mean and well above the industry peer median, which highlights higher financial leverage relative to peers even as interest coverage remains healthy.
Valuation multiples remain rich versus operating metrics: P/E at 113.33, P/S at 18.61 and P/B at 26.94. P/B exceeds the industry peer high of 24.20, and the enterprise multiple (enterprise-to-revenue) also prints elevated. WMDST values the stock as over-valued, reflecting stretched multiples relative to current profit and cash-flow conversion despite solid revenue growth and a strong gross margin profile.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-01-27 |
| NEXT REPORT DATE: | 2026-04-28 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ 4.0 M | |
| Capital Expenditures | $ -2.12 M | |
| Change In Working Capital | $ -61.39 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -37.21 M | |
| End Period Cash Flow | $ 1.0 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 313.8 M | |
| Forward Revenue | $ 233.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 59.3 M | |
| Depreciation | $ 3.8 M | |
| Depreciation and Amortization | $ 3.8 M | |
| Research and Development | $ 42.2 M | |
| Total Operating Expenses | $ 282.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 254.5 M | |
| EBITDA | $ 32.3 M | |
| EBIT | $ 28.5 M | |
| Operating Income | $ 31.7 M | |
| Interest Income | $ 8.4 M | |
| Interest Expense | $ 1.4 M | |
| Net Interest Income | $ 7.0 M | |
| Income Before Tax | $ 27.0 M | |
| Tax Provision | $ 9.2 M | |
| Tax Rate | 34.199 % | |
| Net Income | $ 17.8 M | |
| Net Income From Continuing Operations | $ 17.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.98 | |
| EPS Actual | $ 1.17 | |
| EPS Difference | $ 0.19 | |
| EPS Surprise | 19.388 % | |
| Forward EPS | $ 1.20 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.0 B | |
| Intangible Assets | $ 231.8 M | |
| Net Tangible Assets | $ -15.08 M | |
| Total Current Assets | $ 1.4 B | |
| Cash and Short-Term Investments | $ 1.0 B | |
| Cash | $ 1.0 B | |
| Net Receivables | $ 361.8 M | |
| Inventory | — | |
| Long-Term Investments | $ 65.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 268.0 K | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 616.6 M | |
| Net Debt | — | |
| Total Debt | $ 918.6 M | |
| Total Liabilities | $ 1.8 B | |
| EQUITY | ||
| Total Equity | $ 216.7 M | |
| Retained Earnings | $ -1.25 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 4.92 | |
| Shares Outstanding | 44.034 M | |
| Revenue Per-Share | $ 7.13 | |
| VALUATION | Market Capitalization | $ 5.8 B |
| Enterprise Value | $ 5.7 B | |
| Enterprise Multiple | 177.686 | |
| Enterprise Multiple QoQ | -56.867 % | |
| Enterprise Multiple YoY | -53.066 % | |
| Enterprise Multiple IPRWA | high: 416.607 CVLT: 177.686 mean: 71.883 median: 61.115 low: -363.609 |
|
| EV/R | 18.262 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 9.404 | |
| Asset To Liability | 1.119 | |
| Debt To Capital | 0.809 | |
| Debt To Assets | 0.451 | |
| Debt To Assets QoQ | -4.895 % | |
| Debt To Assets YoY | 3878.199 % | |
| Debt To Assets IPRWA | high: 0.87 CVLT: 0.451 mean: 0.167 median: 0.087 low: 0.001 |
|
| Debt To Equity | 4.239 | |
| Debt To Equity QoQ | -1.808 % | |
| Debt To Equity YoY | 10417.717 % | |
| Debt To Equity IPRWA | CVLT: 4.239 high: 2.77 mean: 0.261 median: 0.147 low: -1.125 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 26.941 | |
| Price To Book QoQ | -27.918 % | |
| Price To Book YoY | 10.238 % | |
| Price To Book IPRWA | CVLT: 26.941 high: 24.203 mean: 10.827 median: 9.178 low: -16.001 |
|
| Price To Earnings (P/E) | 113.334 | |
| Price To Earnings QoQ | -42.243 % | |
| Price To Earnings YoY | -33.333 % | |
| Price To Earnings IPRWA | high: 522.411 mean: 127.104 CVLT: 113.334 median: 111.19 low: -262.004 |
|
| PE/G Ratio | 3.967 | |
| Price To Sales (P/S) | 18.605 | |
| Price To Sales QoQ | -34.674 % | |
| Price To Sales YoY | -30.54 % | |
| Price To Sales IPRWA | high: 116.554 mean: 45.013 median: 44.141 CVLT: 18.605 low: 0.761 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 115.597 | |
| Forward PE/G | 4.046 | |
| Forward P/S | 24.945 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.938 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.159 | |
| Asset Turnover Ratio QoQ | -11.127 % | |
| Asset Turnover Ratio YoY | -40.109 % | |
| Asset Turnover Ratio IPRWA | high: 0.428 CVLT: 0.159 mean: 0.13 median: 0.125 low: 0.0 |
|
| Receivables Turnover | 1.052 | |
| Receivables Turnover Ratio QoQ | -6.633 % | |
| Receivables Turnover Ratio YoY | -6.622 % | |
| Receivables Turnover Ratio IPRWA | high: 5.582 mean: 1.565 median: 1.485 CVLT: 1.052 low: 0.061 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 86.741 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 113.407 mean: 63.698 median: 62.904 low: 21.685 CVLT: 0 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.379 | |
| CapEx To Revenue | -0.007 | |
| CapEx To Depreciation | -0.56 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.1 B | |
| Net Invested Capital | $ 1.1 B | |
| Invested Capital | $ 1.1 B | |
| Net Tangible Assets | $ -15.08 M | |
| Net Working Capital | $ 828.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.664 | |
| Current Ratio | 2.343 | |
| Current Ratio QoQ | -7.277 % | |
| Current Ratio YoY | 107.939 % | |
| Current Ratio IPRWA | high: 8.654 CVLT: 2.343 mean: 1.819 median: 1.386 low: 0.089 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 28.481 | |
| Cost Of Debt | 0.132 % | |
| Interest Coverage Ratio | 19.65 | |
| Interest Coverage Ratio QoQ | -20.461 % | |
| Interest Coverage Ratio YoY | -86.564 % | |
| Interest Coverage Ratio IPRWA | high: 238.5 median: 66.552 mean: 45.877 CVLT: 19.65 low: -237.222 |
|
| Operating Cash Flow Ratio | -0.171 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 0.52 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 6.323 % | |
| Revenue Growth | 13.63 % | |
| Revenue Growth QoQ | -763.906 % | |
| Revenue Growth YoY | 8.329 % | |
| Revenue Growth IPRWA | high: 19.11 % CVLT: 13.63 % mean: 6.014 % median: 4.635 % low: -10.142 % |
|
| Earnings Growth | 28.571 % | |
| Earnings Growth QoQ | -388.567 % | |
| Earnings Growth YoY | 115.581 % | |
| Earnings Growth IPRWA | high: 153.333 % CVLT: 28.571 % mean: 13.474 % median: 10.811 % low: -163.636 % |
|
| MARGINS | ||
| Gross Margin | 81.106 % | |
| Gross Margin QoQ | 1.294 % | |
| Gross Margin YoY | -0.469 % | |
| Gross Margin IPRWA | high: 94.68 % CVLT: 81.106 % mean: 71.947 % median: 68.036 % low: 17.541 % |
|
| EBIT Margin | 9.073 % | |
| EBIT Margin QoQ | 59.231 % | |
| EBIT Margin YoY | 56.674 % | |
| EBIT Margin IPRWA | high: 136.21 % median: 60.268 % mean: 46.41 % CVLT: 9.073 % low: -149.192 % |
|
| Return On Sales (ROS) | 10.087 % | |
| Return On Sales QoQ | 100.139 % | |
| Return On Sales YoY | 74.184 % | |
| Return On Sales IPRWA | high: 76.917 % median: 47.094 % mean: 36.504 % CVLT: 10.087 % low: -149.192 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.9 M | |
| Free Cash Flow Yield | 0.033 % | |
| Free Cash Flow Yield QoQ | -96.471 % | |
| Free Cash Flow Yield YoY | -92.235 % | |
| Free Cash Flow Yield IPRWA | high: 7.018 % mean: 0.169 % median: 0.164 % CVLT: 0.033 % low: -8.479 % |
|
| Free Cash Growth | -97.383 % | |
| Free Cash Growth QoQ | -166.291 % | |
| Free Cash Growth YoY | 119.366 % | |
| Free Cash Growth IPRWA | high: 265.627 % mean: -23.302 % median: -77.08 % CVLT: -97.383 % low: -204.458 % |
|
| Free Cash To Net Income | 0.108 | |
| Cash Flow Margin | -33.638 % | |
| Cash Flow To Earnings | -5.937 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.899 % | |
| Return On Assets QoQ | -5.567 % | |
| Return On Assets YoY | -19.155 % | |
| Return On Assets IPRWA | high: 16.838 % median: 5.909 % mean: 4.689 % CVLT: 0.899 % low: -21.173 % |
|
| Return On Capital Employed (ROCE) | 2.003 % | |
| Return On Equity (ROE) | 0.082 | |
| Return On Equity QoQ | 17.231 % | |
| Return On Equity YoY | 114.286 % | |
| Return On Equity IPRWA | high: 0.362 median: 0.098 mean: 0.086 CVLT: 0.082 low: -0.293 |
|
| DuPont ROE | 8.325 % | |
| Return On Invested Capital (ROIC) | 1.709 % | |
| Return On Invested Capital QoQ | 21.292 % | |
| Return On Invested Capital YoY | -135.723 % | |
| Return On Invested Capital IPRWA | high: 22.805 % median: 9.056 % mean: 7.419 % CVLT: 1.709 % low: -19.407 % |
|