Recent News
On February 24, 2026 the Board authorized a share repurchase program of up to $7,500,000. On April 21, 2026 the company announced it would report first-quarter 2026 results and host a conference call on April 28, 2026.
Technical Analysis
ADX at 21.64 indicates an emerging trend strength, supporting the view that recent directional moves carry conviction but lack strong extension; this moderates immediate upside prospects relative to the medium-term valuation case.
DI+ sits at 23.68 and shows a decreasing pattern, which reads as short-term bearish pressure on directional momentum and tempers upside potential implied by free-cash metrics.
DI− at 20.52 shows a dip-and-reversal, signaling increasing negative directional force and reinforcing the near-term bearish momentum implied by the DI+ decline.
MACD at 0.42 has undergone a peak-and-reversal and trades below its signal line (0.75), a bearish momentum configuration that raises the probability of short-term downside before any sustained recovery.
MRO at 15.62 registered a peak-and-reversal; the positive value implies price sits above target levels and the oscillator’s reversal suggests scope for a price contraction that would align valuation with operating fundamentals.
RSI at 53.14 shows a peak-and-reversal, indicating loss of recent upside momentum and supporting the view that near-term mean reversion remains likely absent a fresh bullish catalyst.
Price trades below short-term averages—12-day EMA $41.86 and 20-day average $42.52—while remaining above the 200-day average $32.21; that structure signals short-term weakness inside a still-intact longer-term base, which fits the WMDST under-valued conclusion tied to cash metrics.
Volume at 331,467 versus the 10-day average 84,869 and the 200-day average 57,013 shows episodic elevated activity, suggesting current moves carry participation that could accelerate either consolidation or a sharper correction before fundamentals reassert.
Fundamental Analysis
Total revenue reached $139,716,000 with YoY revenue growth of 18.94% and QoQ change of −12.34%; top-line momentum supports the valuation case, though quarter-to-quarter seasonality reduced sequential growth. Gross margin at 41.32% held near prior levels (YoY −0.51% points), but operating (EBIT) margin of 6.86% contracted QoQ by −28.32% and sits below the industry peer mean of 13.676% and the industry peer median of 8.095% while remaining above the industry peer low of −19.556%.
EBIT totaled $9,590,000 and EBITDA $12,106,000. Net income from continuing operations was $6,512,000; EPS came in at $0.24 versus an estimate of $0.27, an EPS surprise of −11.11%, reflecting margin pressure rather than top-line weakness.
Valuation multiples show a P/E of 33.57x and a price-to-book near 0.94x, markedly below the industry peer mean price-to-book of 6.00668 and median of 6.99074. Enterprise value stands at $360,918,720 and EV/Revenue (EVR) at 2.58, consistent with a valuation gap the market could close if margins recover.
Free cash flow totaled $16,718,000, producing a free-cash-flow yield of 7.06%, above the industry peer mean free-cash-flow yield of 2.487%; however, free cash flow trends show contraction QoQ and YoY. Operating cash flow reached $17,585,000 and cash-flow-to-earnings at ~256.7% highlights strong conversion in the period despite compressing margins.
Balance-sheet metrics: cash and short-term investments $2,902,000, total debt $127,020,000, and net debt $119,740,000. Debt/EBITDA runs about 10.49x while interest coverage approximates 3.63x, indicating leverage that amplifies margin sensitivity. Current ratio 2.82 and net working capital $174,584,000 provide liquidity buffer, but the cash conversion cycle at 213 days exceeds the industry peer mean of 103 days and industry peer median of 95.51 days, reflecting working-capital intensity that can pressure cash in margin-stressed periods.
WMDST values the stock as under-valued, driven by a strong free-cash-flow yield, modest price-to-book, and revenue growth; the valuation case depends on margin normalization and improved working-capital efficiency to justify the premium implied by current multiples versus cash flow.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-04-28 |
| NEXT REPORT DATE: | 2026-07-28 |
| CASH FLOW | Begin Period Cash Flow | $ 3.3 M |
| Operating Cash Flow | $ 17.6 M | |
| Capital Expenditures | $ -867.00 K | |
| Change In Working Capital | $ 4.7 M | |
| Dividends Paid | $ -1.16 M | |
| Cash Flow Delta | $ -417.00 K | |
| End Period Cash Flow | $ 2.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 139.7 M | |
| Forward Revenue | $ 41.2 M | |
| COSTS | ||
| Cost Of Revenue | $ 82.0 M | |
| Depreciation | $ 2.5 M | |
| Depreciation and Amortization | $ 2.5 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 130.1 M | |
| PROFITABILITY | ||
| Gross Profit | $ 57.7 M | |
| EBITDA | $ 12.1 M | |
| EBIT | $ 9.6 M | |
| Operating Income | $ 9.6 M | |
| Interest Income | — | |
| Interest Expense | $ 2.6 M | |
| Net Interest Income | $ -2.64 M | |
| Income Before Tax | $ 7.0 M | |
| Tax Provision | $ 438.0 K | |
| Tax Rate | 6.302 % | |
| Net Income | $ 6.5 M | |
| Net Income From Continuing Operations | $ 6.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.27 | |
| EPS Actual | $ 0.24 | |
| EPS Difference | $ -0.03 | |
| EPS Surprise | -11.111 % | |
| Forward EPS | $ 1.02 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 477.5 M | |
| Intangible Assets | $ 150.9 M | |
| Net Tangible Assets | $ 101.2 M | |
| Total Current Assets | $ 270.7 M | |
| Cash and Short-Term Investments | $ 2.9 M | |
| Cash | $ 2.9 M | |
| Net Receivables | $ 77.1 M | |
| Inventory | $ 181.1 M | |
| Long-Term Investments | $ 1.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 53.0 M | |
| Short-Term Debt | $ 8.4 M | |
| Total Current Liabilities | $ 96.1 M | |
| Net Debt | $ 119.7 M | |
| Total Debt | $ 127.0 M | |
| Total Liabilities | $ 225.4 M | |
| EQUITY | ||
| Total Equity | $ 252.1 M | |
| Retained Earnings | $ 176.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 33.59 | |
| Shares Outstanding | 7.505 M | |
| Revenue Per-Share | $ 18.62 | |
| VALUATION | Market Capitalization | $ 236.8 M |
| Enterprise Value | $ 360.9 M | |
| Enterprise Multiple | 29.813 | |
| Enterprise Multiple QoQ | 22.975 % | |
| Enterprise Multiple YoY | 78.557 % | |
| Enterprise Multiple IPRWA | high: 85.499 median: 85.499 mean: 59.445 RCKY: 29.813 low: -26.368 |
|
| EV/R | 2.583 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.894 | |
| Asset To Liability | 2.118 | |
| Debt To Capital | 0.335 | |
| Debt To Assets | 0.266 | |
| Debt To Assets QoQ | -6.947 % | |
| Debt To Assets YoY | 1355.252 % | |
| Debt To Assets IPRWA | high: 0.701 mean: 0.318 median: 0.299 RCKY: 0.266 low: 0.034 |
|
| Debt To Equity | 0.504 | |
| Debt To Equity QoQ | -12.198 % | |
| Debt To Equity YoY | 1299.639 % | |
| Debt To Equity IPRWA | high: 5.089 median: 0.801 mean: 0.799 RCKY: 0.504 low: 0.045 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.939 | |
| Price To Book QoQ | 11.522 % | |
| Price To Book YoY | 22.411 % | |
| Price To Book IPRWA | high: 9.303 median: 6.991 mean: 6.007 RCKY: 0.939 low: 0.492 |
|
| Price To Earnings (P/E) | 33.566 | |
| Price To Earnings QoQ | 24.894 % | |
| Price To Earnings YoY | 67.087 % | |
| Price To Earnings IPRWA | high: 125.538 median: 125.538 mean: 86.639 RCKY: 33.566 low: -7.846 |
|
| PE/G Ratio | -3.841 | |
| Price To Sales (P/S) | 1.695 | |
| Price To Sales QoQ | 0.193 % | |
| Price To Sales YoY | 21.79 % | |
| Price To Sales IPRWA | high: 15.231 median: 7.923 mean: 7.268 RCKY: 1.695 low: 0.408 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 28.757 | |
| Forward PE/G | -3.291 | |
| Forward P/S | 5.753 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -1.304 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.288 | |
| Asset Turnover Ratio QoQ | 13.258 % | |
| Asset Turnover Ratio YoY | 4.707 % | |
| Asset Turnover Ratio IPRWA | high: 0.496 mean: 0.339 median: 0.331 RCKY: 0.288 low: 0.029 |
|
| Receivables Turnover | 1.751 | |
| Receivables Turnover Ratio QoQ | 6.383 % | |
| Receivables Turnover Ratio YoY | 1.926 % | |
| Receivables Turnover Ratio IPRWA | high: 15.778 mean: 4.348 median: 2.323 RCKY: 1.751 low: 0.99 |
|
| Inventory Turnover | 0.438 | |
| Inventory Turnover Ratio QoQ | 13.616 % | |
| Inventory Turnover Ratio YoY | -1.076 % | |
| Inventory Turnover Ratio IPRWA | high: 1.07 median: 0.932 mean: 0.816 RCKY: 0.438 low: 0.402 |
|
| Days Sales Outstanding (DSO) | 52.124 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 213.084 | |
| Cash Conversion Cycle Days QoQ | -12.12 % | |
| Cash Conversion Cycle Days YoY | 10.425 % | |
| Cash Conversion Cycle Days IPRWA | high: 338.107 RCKY: 213.084 mean: 103.382 median: 95.506 low: 21.797 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.8 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -0.345 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 366.4 M | |
| Net Invested Capital | $ 374.7 M | |
| Invested Capital | $ 374.7 M | |
| Net Tangible Assets | $ 101.2 M | |
| Net Working Capital | $ 174.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.03 | |
| Current Ratio | 2.816 | |
| Current Ratio QoQ | 2.825 % | |
| Current Ratio YoY | 3.309 % | |
| Current Ratio IPRWA | high: 4.224 RCKY: 2.816 mean: 2.068 median: 2.063 low: 0.217 |
|
| Quick Ratio | 0.932 | |
| Quick Ratio QoQ | 5.916 % | |
| Quick Ratio YoY | 5.654 % | |
| Quick Ratio IPRWA | high: 2.869 median: 1.399 mean: 1.381 RCKY: 0.932 low: 0.111 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 10.492 | |
| Cost Of Debt | 1.41 % | |
| Interest Coverage Ratio | 3.633 | |
| Interest Coverage Ratio QoQ | -22.829 % | |
| Interest Coverage Ratio YoY | 30.013 % | |
| Interest Coverage Ratio IPRWA | high: 701.0 mean: 103.672 RCKY: 3.633 median: -15.015 low: -165.305 |
|
| Operating Cash Flow Ratio | 0.173 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 72.414 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 5.599 | |
| Dividend Payout Ratio | 0.179 | |
| Dividend Rate | $ 0.15 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -3.345 % | |
| Revenue Growth | 14.017 % | |
| Revenue Growth QoQ | -12.339 % | |
| Revenue Growth YoY | 18.939 % | |
| Revenue Growth IPRWA | high: 61.21 % RCKY: 14.017 % mean: 12.745 % median: 6.032 % low: -12.568 % |
|
| Earnings Growth | -8.738 % | |
| Earnings Growth QoQ | -110.012 % | |
| Earnings Growth YoY | -116.02 % | |
| Earnings Growth IPRWA | high: 223.077 % mean: 20.875 % median: 8.163 % RCKY: -8.738 % low: -44.737 % |
|
| MARGINS | ||
| Gross Margin | 41.316 % | |
| Gross Margin QoQ | 2.745 % | |
| Gross Margin YoY | -0.51 % | |
| Gross Margin IPRWA | high: 75.464 % mean: 51.415 % median: 43.239 % RCKY: 41.316 % low: 11.955 % |
|
| EBIT Margin | 6.864 % | |
| EBIT Margin QoQ | -28.321 % | |
| EBIT Margin YoY | 3.342 % | |
| EBIT Margin IPRWA | high: 32.08 % mean: 13.676 % median: 8.095 % RCKY: 6.864 % low: -19.556 % |
|
| Return On Sales (ROS) | 6.864 % | |
| Return On Sales QoQ | -28.321 % | |
| Return On Sales YoY | 3.342 % | |
| Return On Sales IPRWA | high: 31.384 % mean: 13.659 % median: 8.095 % RCKY: 6.864 % low: -19.556 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 16.7 M | |
| Free Cash Flow Yield | 7.06 % | |
| Free Cash Flow Yield QoQ | -383.307 % | |
| Free Cash Flow Yield YoY | -45.058 % | |
| Free Cash Flow Yield IPRWA | high: 25.352 % RCKY: 7.06 % mean: 2.487 % median: 0.392 % low: -22.722 % |
|
| Free Cash Growth | -423.679 % | |
| Free Cash Growth QoQ | -456.185 % | |
| Free Cash Growth YoY | -175.335 % | |
| Free Cash Growth IPRWA | high: 1193.641 % mean: 217.259 % median: -45.322 % RCKY: -423.679 % low: -647.462 % |
|
| Free Cash To Net Income | 2.567 | |
| Cash Flow Margin | 11.918 % | |
| Cash Flow To Earnings | 2.557 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.341 % | |
| Return On Assets QoQ | -10.301 % | |
| Return On Assets YoY | 30.194 % | |
| Return On Assets IPRWA | high: 12.202 % mean: 3.827 % median: 2.109 % RCKY: 1.341 % low: -6.994 % |
|
| Return On Capital Employed (ROCE) | 2.515 % | |
| Return On Equity (ROE) | 0.026 | |
| Return On Equity QoQ | -11.873 % | |
| Return On Equity YoY | 24.964 % | |
| Return On Equity IPRWA | high: 0.238 mean: 0.072 median: 0.056 RCKY: 0.026 low: -0.206 |
|
| DuPont ROE | 2.614 % | |
| Return On Invested Capital (ROIC) | 2.398 % | |
| Return On Invested Capital QoQ | 0.841 % | |
| Return On Invested Capital YoY | -98.511 % | |
| Return On Invested Capital IPRWA | high: 6.729 % mean: 4.225 % median: 3.609 % RCKY: 2.398 % low: -0.137 % |
|