Recent News
February 2026: Management launched a sale process for the Food Ingredients unit alongside a restructuring and portfolio-consolidation update announced in mid-February.
January 27, 2026: A class-action complaint tied to fragrance-product purchases filed in the District of New Jersey entered the public record.
February 2026: Several broker commentary notes reiterated positive operational themes and maintained upbeat ratings, citing margin recovery and portfolio simplification as drivers.
Technical Analysis
Directional indicators show DI+ at 23.91 with a dip & reversal, and DI- at 24.52 with a decreasing trend; those readings align toward short-term bullish pressure, though ADX at 14.4 signals no established trend and therefore limited directional conviction.
MACD sits at 0.10 above its signal line at -0.26, which constitutes a bullish cross; the MACD_trend registers a peak & reversal, indicating recent momentum has rolled over and suggesting the bullish cross may offer only a near-term lift unless momentum renews.
MRO at -4.98 with a dip & reversal indicates price below WMDST’s target and a mechanically higher probability of price appreciation toward valuation; that supports upside potential tied to the under-valued conclusion.
RSI of 50.88 with a peak & reversal shows neutral-to-slightly-fading relative strength, consistent with consolidation between short- and medium-term moving averages.
Price relationships provide contextual support: the close at $72.42 trades above the 200-day average ($68.90) but below the 50-day average ($74.50) and the 20-day average ($72.63), implying corrective trading inside a broader constructive range; SuperTrend lower support sits near $69.71 while Bollinger bands place the current range between about $71 and $75.
Fundamental Analysis
Revenue totaled $2,589,000,000 with revenue growth down 3.90% year-over-year but up 53.89% quarter-over-quarter, reflecting a sizable sequential pickup after annual weakness; that split suggests near-term operational improvement amid a still-contracting annual comparison.
EBIT registered $71,000,000 and an EBIT margin of 2.74%; that margin falls below the industry peer mean of 4.09% and below the industry peer median of 17.71%, while quarter-over-quarter EBIT margin declined roughly 28.96% and year-over-year moved down about 265.18%, reflecting compressive operating performance versus recent periods.
Operating margin stands at 4.365% with a QoQ contraction of 51.41% and YoY deterioration of 362.95%, indicating material near-term pressure on profitability despite efforts at portfolio optimization and cost control.
Profitability metrics show net income at $31,000,000 and return on equity near 0.22%, while return on assets sits at 0.12%; those low returns limit internal capital-generation velocity and amplify the importance of any successful divestiture proceeds.
Leverage metrics present elevated structural risk: total debt of $6,619,000,000, net debt of $5,404,000,000, and debt-to-EBITDA of 21.49x, with interest coverage roughly 1.45x—conditions that constrain margin for error and leave cash-flow conversion critical. Cash conversion cycle near 123 days runs longer than the industry peer mean of about 77 days, indicating working-capital intensity.
Market multiples carry mixed signals: P/E around 86.46x and price-to-book about 1.25x (below the industry peer mean book multiple of 5.72x and median of 7.89x), while enterprise multiple sits near 77.00. Free cash flow totaled $130,000,000 with a free cash flow yield near 0.74% and free-cash-growth showing negative YoY movement; those valuations align with WMDST’s assessment that the current valuation appears under-valued but vulnerable to execution risk.
EPS came in at $0.80 versus an estimate of $0.83, producing an EPS surprise of -3.61% that marginally undercut expectations; forward EPS implies a forward P/E near 54.69x and a negative forward PEG, reflecting low near-term growth assumptions embedded in consensus.
Valuation summary: WMDST values the stock as under-valued based on the gap between market multiples and the company’s adjusted cash-flow outlook, but margin compression, elevated leverage, and lengthening working capital amplify execution risk and make recovery dependent on successful portfolio moves and operating improvement.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-11 |
| NEXT REPORT DATE: | 2026-05-13 |
| CASH FLOW | Begin Period Cash Flow | $ 621.0 M |
| Operating Cash Flow | $ 318.0 M | |
| Capital Expenditures | $ -188.00 M | |
| Change In Working Capital | $ 106.0 M | |
| Dividends Paid | $ -103.00 M | |
| Cash Flow Delta | $ -31.00 M | |
| End Period Cash Flow | $ 590.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.6 B | |
| Forward Revenue | $ 6.4 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.7 B | |
| Depreciation | $ -40.00 M | |
| Depreciation and Amortization | $ 237.0 M | |
| Research and Development | $ 174.0 M | |
| Total Operating Expenses | $ 2.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 890.0 M | |
| EBITDA | $ 308.0 M | |
| EBIT | $ 71.0 M | |
| Operating Income | $ 113.0 M | |
| Interest Income | — | |
| Interest Expense | $ 49.0 M | |
| Net Interest Income | $ -49.00 M | |
| Income Before Tax | $ 22.0 M | |
| Tax Provision | $ -9.00 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 31.0 M | |
| Net Income From Continuing Operations | $ 31.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.83 | |
| EPS Actual | $ 0.80 | |
| EPS Difference | $ -0.03 | |
| EPS Surprise | -3.614 % | |
| Forward EPS | $ 1.19 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 25.5 B | |
| Intangible Assets | $ 14.3 B | |
| Net Tangible Assets | $ -158.00 M | |
| Total Current Assets | $ 5.6 B | |
| Cash and Short-Term Investments | $ 590.0 M | |
| Cash | $ 590.0 M | |
| Net Receivables | $ 1.7 B | |
| Inventory | $ 2.4 B | |
| Long-Term Investments | $ 516.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.3 B | |
| Short-Term Debt | $ 1.3 B | |
| Total Current Liabilities | $ 3.9 B | |
| Net Debt | $ 5.4 B | |
| Total Debt | $ 6.6 B | |
| Total Liabilities | $ 11.4 B | |
| EQUITY | ||
| Total Equity | $ 14.2 B | |
| Retained Earnings | $ -3.42 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 55.35 | |
| Shares Outstanding | 255.700 M | |
| Revenue Per-Share | $ 10.13 | |
| VALUATION | Market Capitalization | $ 17.7 B |
| Enterprise Value | $ 23.7 B | |
| Enterprise Multiple | 77.001 | |
| Enterprise Multiple QoQ | 19.05 % | |
| Enterprise Multiple YoY | -34.958 % | |
| Enterprise Multiple IPRWA | high: 96.644 median: 85.541 IFF: 77.001 mean: 75.51 low: -33.169 |
|
| EV/R | 9.16 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.804 | |
| Asset To Liability | 2.25 | |
| Debt To Capital | 0.319 | |
| Debt To Assets | 0.259 | |
| Debt To Assets QoQ | -0.173 % | |
| Debt To Assets YoY | 425.806 % | |
| Debt To Assets IPRWA | high: 0.595 median: 0.364 mean: 0.32 IFF: 0.259 low: 0.003 |
|
| Debt To Equity | 0.468 | |
| Debt To Equity QoQ | -0.453 % | |
| Debt To Equity YoY | 359.236 % | |
| Debt To Equity IPRWA | high: 2.027 median: 0.921 mean: 0.764 IFF: 0.468 low: 0.003 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.25 | |
| Price To Book QoQ | 6.99 % | |
| Price To Book YoY | -22.514 % | |
| Price To Book IPRWA | high: 9.263 median: 7.894 mean: 5.718 IFF: 1.25 low: 0.272 |
|
| Price To Earnings (P/E) | 86.465 | |
| Price To Earnings QoQ | 39.886 % | |
| Price To Earnings YoY | -4.173 % | |
| Price To Earnings IPRWA | high: 308.977 median: 131.484 IFF: 86.465 mean: 76.775 low: -280.188 |
|
| PE/G Ratio | -3.631 | |
| Price To Sales (P/S) | 6.832 | |
| Price To Sales QoQ | 10.648 % | |
| Price To Sales YoY | -15.405 % | |
| Price To Sales IPRWA | high: 38.744 median: 18.382 mean: 15.518 IFF: 6.832 low: 1.224 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 54.695 | |
| Forward PE/G | -2.297 | |
| Forward P/S | 2.758 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 8.141 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.101 | |
| Asset Turnover Ratio QoQ | -2.812 % | |
| Asset Turnover Ratio YoY | 6.703 % | |
| Asset Turnover Ratio IPRWA | high: 0.251 median: 0.173 mean: 0.156 IFF: 0.101 low: 0.004 |
|
| Receivables Turnover | 1.438 | |
| Receivables Turnover Ratio QoQ | -2.029 % | |
| Receivables Turnover Ratio YoY | -11.863 % | |
| Receivables Turnover Ratio IPRWA | high: 2.514 mean: 1.494 IFF: 1.438 median: 1.319 low: 0.211 |
|
| Inventory Turnover | 0.706 | |
| Inventory Turnover Ratio QoQ | 2.187 % | |
| Inventory Turnover Ratio YoY | -9.513 % | |
| Inventory Turnover Ratio IPRWA | high: 2.161 median: 1.553 mean: 1.305 IFF: 0.706 low: 0.104 |
|
| Days Sales Outstanding (DSO) | 63.441 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 123.226 | |
| Cash Conversion Cycle Days QoQ | 0.0 % | |
| Cash Conversion Cycle Days YoY | 15.167 % | |
| Cash Conversion Cycle Days IPRWA | high: 305.407 IFF: 123.226 mean: 77.689 median: 51.056 low: 25.374 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.559 | |
| CapEx To Revenue | -0.073 | |
| CapEx To Depreciation | 4.7 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 18.9 B | |
| Net Invested Capital | $ 20.1 B | |
| Invested Capital | $ 20.1 B | |
| Net Tangible Assets | $ -158.00 M | |
| Net Working Capital | $ 1.7 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.15 | |
| Current Ratio | 1.422 | |
| Current Ratio QoQ | -1.508 % | |
| Current Ratio YoY | -22.896 % | |
| Current Ratio IPRWA | high: 5.668 mean: 1.745 IFF: 1.422 median: 1.076 low: 0.193 |
|
| Quick Ratio | 0.821 | |
| Quick Ratio QoQ | -2.489 % | |
| Quick Ratio YoY | -37.972 % | |
| Quick Ratio IPRWA | high: 3.941 mean: 1.197 IFF: 0.821 median: 0.807 low: 0.745 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 21.49 | |
| Cost Of Debt | 0.519 % | |
| Interest Coverage Ratio | 1.449 | |
| Interest Coverage Ratio QoQ | -33.124 % | |
| Interest Coverage Ratio YoY | -317.346 % | |
| Interest Coverage Ratio IPRWA | high: 27.334 median: 8.965 mean: 6.246 IFF: 1.449 low: -36.595 |
|
| Operating Cash Flow Ratio | 0.126 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 68.558 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 0.301 | |
| Dividend Payout Ratio | 3.323 | |
| Dividend Rate | $ 0.40 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.889 % | |
| Revenue Growth | -3.898 % | |
| Revenue Growth QoQ | 53.889 % | |
| Revenue Growth YoY | -25.964 % | |
| Revenue Growth IPRWA | high: 18.339 % median: 0.744 % mean: 0.206 % IFF: -3.898 % low: -35.108 % |
|
| Earnings Growth | -23.81 % | |
| Earnings Growth QoQ | 173.804 % | |
| Earnings Growth YoY | 253.736 % | |
| Earnings Growth IPRWA | high: 47.368 % median: 0.483 % mean: -16.474 % IFF: -23.81 % low: -166.667 % |
|
| MARGINS | ||
| Gross Margin | 34.376 % | |
| Gross Margin QoQ | -5.788 % | |
| Gross Margin YoY | -2.799 % | |
| Gross Margin IPRWA | high: 45.15 % median: 44.032 % mean: 36.148 % IFF: 34.376 % low: -38.156 % |
|
| EBIT Margin | 2.742 % | |
| EBIT Margin QoQ | -28.964 % | |
| EBIT Margin YoY | -265.181 % | |
| EBIT Margin IPRWA | high: 19.701 % median: 17.712 % mean: 4.087 % IFF: 2.742 % low: -160.328 % |
|
| Return On Sales (ROS) | 4.365 % | |
| Return On Sales QoQ | -51.408 % | |
| Return On Sales YoY | -362.952 % | |
| Return On Sales IPRWA | high: 19.836 % median: 18.746 % mean: 14.089 % IFF: 4.365 % low: -62.942 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 130.0 M | |
| Free Cash Flow Yield | 0.735 % | |
| Free Cash Flow Yield QoQ | 308.333 % | |
| Free Cash Flow Yield YoY | -20.883 % | |
| Free Cash Flow Yield IPRWA | high: 3.973 % mean: 1.224 % median: 0.983 % IFF: 0.735 % low: -8.768 % |
|
| Free Cash Growth | 333.333 % | |
| Free Cash Growth QoQ | -519.54 % | |
| Free Cash Growth YoY | -1819.985 % | |
| Free Cash Growth IPRWA | IFF: 333.333 % high: 164.557 % median: 43.1 % mean: 23.903 % low: -136.967 % |
|
| Free Cash To Net Income | 4.194 | |
| Cash Flow Margin | 19.081 % | |
| Cash Flow To Earnings | 15.935 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.121 % | |
| Return On Assets QoQ | -21.429 % | |
| Return On Assets YoY | -177.07 % | |
| Return On Assets IPRWA | high: 2.61 % median: 2.321 % mean: 0.853 % IFF: 0.121 % low: -17.113 % |
|
| Return On Capital Employed (ROCE) | 0.329 % | |
| Return On Equity (ROE) | 0.002 | |
| Return On Equity QoQ | -22.064 % | |
| Return On Equity YoY | -165.964 % | |
| Return On Equity IPRWA | high: 0.058 median: 0.058 mean: 0.022 IFF: 0.002 low: -0.244 |
|
| DuPont ROE | 0.218 % | |
| Return On Invested Capital (ROIC) | 0.278 % | |
| Return On Invested Capital QoQ | -25.867 % | |
| Return On Invested Capital YoY | -107.221 % | |
| Return On Invested Capital IPRWA | high: 3.554 % median: 3.554 % mean: 1.771 % IFF: 0.278 % low: -18.25 % |
|