Recent News
On Feb. 11, 2026 the company launched a formal sale process for its Food Ingredients business; the Board also declared a quarterly cash dividend. The Soy Crush, Concentrates and Lecithin group closed as a divestiture in early March 2026; management continues disciplined portfolio refinement and confirmed corporate participation at industry events in April.
Technical Analysis
Directional indicators show an emerging trend: ADX at 23.42 signals trend emergence while DI+ at 30.57 (dip-and-reversal) registered bullish pressure and DI- at 17.7 (decreasing) removed downside bias; those readings align with a near-term positive price bias tied to operational catalysts.
MACD sits at 1.43 with the MACD line above the signal line (signal 0.52) and the MACD trend increasing; the cross above the signal line constitutes a bullish momentum confirmation that supports the case for further upside toward short-term targets.
MRO reads 28.59 and increases, indicating the market price sits above the regression target and that upward momentum may face mean-reversion pressure; the magnitude suggests a moderate potential for consolidation or pullback from elevated levels.
RSI at 52.6 and rising implies neutral-to-mild bullish momentum without overbought conditions, leaving room for additional advance before typical momentum fatigue emerges.
Price structure favors buyers: the close at $78.47 trades above the 50-day ($72.40) and 200-day ($68.78) averages, and the 12-day EMA shows a dip-and-reversal consistent with short-term recovery. Price nears the upper Bollinger band (upper 1x SD $79.27), so any extension likely finds near-term resistance just above present levels; SuperTrend lower support resides near $74.92. Short-term volatility (42-day beta 1.81) exceeds the 52-week beta (0.88), signaling elevated sensitivity to market moves in the near term.
Fundamental Analysis
Profitability and margins: EBIT totaled $253,000,000 and EBITDA $499,000,000. EBIT margin equals 9.23%, below the industry peer mean of 13.48% and below the peer median of 12.41%, indicating margin compression relative to peers despite recent operational actions. Operating margin stands at 10.18%, also below the industry peer mean of 13.93%.
Revenue and earnings: Total revenue reached $2,741,000,000. Reported EPS equaled $1.25 versus an estimate of $1.07, producing an EPS surprise of approximately 16.82% and a beat of $0.18. Reported revenue growth measures include a 5.87% growth figure and a year-over-year revenue growth figure of 125.98%; QoQ revenue slipped (QoQ growth -2.51%).
Cash generation and leverage: Free cash flow totaled $92,000,000 with a free cash flow yield near 0.50%. Cash and short-term investments amount to $562,000,000 while net debt sits at $5,255,000,000, producing a debt-to-EBITDA of ~12.9 and an interest coverage ratio of 5.75. The leverage profile remains material and will influence valuation recovery even as operating cash flow ($394,000,000) supports near-term obligations.
Balance-sheet and efficiency metrics: Current ratio 1.49 and quick ratio 0.84 indicate working-capital tightness versus the industry peer mean current ratio of 2.82. Cash conversion cycle at 115 days sits below the industry peer mean of 154.84 days, reflecting relatively efficient receivables and inventory conversion. Asset turnover registers 0.108, somewhat below the industry peer mean of 0.14786, consistent with a capital-intensive specialty-chemicals footprint.
Valuation multiples: Trailing P/E sits near 57.53 and forward P/E near 59.49; the trailing P/E falls below the industry peer median of 83.08 and well below the peer mean, while price-to-book at 1.30 compares below the industry peer mean of 3.17. Enterprise multiple at 48.55 records below the reported industry peer mean of 59.66. WMDST values the stock as under-valued, reflecting the gap between capital-market multiples and the company’s fundamental cash-generation profile adjusted for leverage.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-05 |
| NEXT REPORT DATE: | 2026-08-04 |
| CASH FLOW | Begin Period Cash Flow | $ 590.0 M |
| Operating Cash Flow | $ 394.0 M | |
| Capital Expenditures | $ -165.00 M | |
| Change In Working Capital | $ -162.00 M | |
| Dividends Paid | $ -102.00 M | |
| Cash Flow Delta | $ -28.00 M | |
| End Period Cash Flow | $ 562.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.7 B | |
| Forward Revenue | $ 1.3 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.7 B | |
| Depreciation | $ 100.0 M | |
| Depreciation and Amortization | $ 246.0 M | |
| Research and Development | $ 166.0 M | |
| Total Operating Expenses | $ 2.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.0 B | |
| EBITDA | $ 499.0 M | |
| EBIT | $ 253.0 M | |
| Operating Income | $ 279.0 M | |
| Interest Income | $ 3.0 M | |
| Interest Expense | $ 44.0 M | |
| Net Interest Income | $ -41.00 M | |
| Income Before Tax | $ 209.0 M | |
| Tax Provision | $ 39.0 M | |
| Tax Rate | 18.66 % | |
| Net Income | $ 169.0 M | |
| Net Income From Continuing Operations | $ 170.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.07 | |
| EPS Actual | $ 1.25 | |
| EPS Difference | $ 0.18 | |
| EPS Surprise | 16.822 % | |
| Forward EPS | $ 1.21 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 25.1 B | |
| Intangible Assets | $ 14.1 B | |
| Net Tangible Assets | $ 33.0 M | |
| Total Current Assets | $ 5.4 B | |
| Cash and Short-Term Investments | $ 562.0 M | |
| Cash | $ 562.0 M | |
| Net Receivables | $ 1.8 B | |
| Inventory | $ 2.4 B | |
| Long-Term Investments | $ 308.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.4 B | |
| Short-Term Debt | $ 1.1 B | |
| Total Current Liabilities | $ 3.6 B | |
| Net Debt | $ 5.3 B | |
| Total Debt | $ 6.4 B | |
| Total Liabilities | $ 11.0 B | |
| EQUITY | ||
| Total Equity | $ 14.1 B | |
| Retained Earnings | $ -3.35 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 55.33 | |
| Shares Outstanding | 255.200 M | |
| Revenue Per-Share | $ 10.74 | |
| VALUATION | Market Capitalization | $ 18.4 B |
| Enterprise Value | $ 24.2 B | |
| Enterprise Multiple | 48.547 | |
| Enterprise Multiple QoQ | -36.953 % | |
| Enterprise Multiple YoY | -213.521 % | |
| Enterprise Multiple IPRWA | high: 95.48 mean: 59.66 median: 57.259 IFF: 48.547 low: 36.078 |
|
| EV/R | 8.838 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.781 | |
| Asset To Liability | 2.288 | |
| Debt To Capital | 0.313 | |
| Debt To Assets | 0.256 | |
| Debt To Assets QoQ | -1.25 % | |
| Debt To Assets YoY | -27.013 % | |
| Debt To Assets IPRWA | high: 0.604 mean: 0.341 median: 0.336 IFF: 0.256 low: 0.109 |
|
| Debt To Equity | 0.456 | |
| Debt To Equity QoQ | -2.545 % | |
| Debt To Equity YoY | -39.408 % | |
| Debt To Equity IPRWA | high: 2.488 median: 0.789 mean: 0.76 IFF: 0.456 low: 0.144 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.3 | |
| Price To Book QoQ | 4.008 % | |
| Price To Book YoY | -14.715 % | |
| Price To Book IPRWA | high: 4.282 median: 3.266 mean: 3.172 IFF: 1.3 low: 1.093 |
|
| Price To Earnings (P/E) | 57.529 | |
| Price To Earnings QoQ | -33.465 % | |
| Price To Earnings YoY | -12.084 % | |
| Price To Earnings IPRWA | high: 846.689 mean: 170.748 median: 83.078 IFF: 57.529 low: -69.317 |
|
| PE/G Ratio | 1.023 | |
| Price To Sales (P/S) | 6.695 | |
| Price To Sales QoQ | -1.996 % | |
| Price To Sales YoY | -5.211 % | |
| Price To Sales IPRWA | high: 34.788 mean: 12.845 median: 9.878 IFF: 6.695 low: 2.295 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 59.495 | |
| Forward PE/G | 1.058 | |
| Forward P/S | 14.62 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 43.662 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.108 | |
| Asset Turnover Ratio QoQ | 7.174 % | |
| Asset Turnover Ratio YoY | 8.301 % | |
| Asset Turnover Ratio IPRWA | high: 0.211 median: 0.16 mean: 0.148 IFF: 0.108 low: 0.043 |
|
| Receivables Turnover | 1.539 | |
| Receivables Turnover Ratio QoQ | 7.031 % | |
| Receivables Turnover Ratio YoY | -8.867 % | |
| Receivables Turnover Ratio IPRWA | high: 2.288 median: 1.647 mean: 1.614 IFF: 1.539 low: 0.352 |
|
| Inventory Turnover | 0.728 | |
| Inventory Turnover Ratio QoQ | 3.106 % | |
| Inventory Turnover Ratio YoY | -6.774 % | |
| Inventory Turnover Ratio IPRWA | high: 1.444 mean: 0.907 median: 0.9 IFF: 0.728 low: 0.416 |
|
| Days Sales Outstanding (DSO) | 59.274 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 115.023 | |
| Cash Conversion Cycle Days QoQ | -6.657 % | |
| Cash Conversion Cycle Days YoY | 8.972 % | |
| Cash Conversion Cycle Days IPRWA | high: 332.977 mean: 154.838 IFF: 115.023 median: 107.131 low: 89.724 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.53 | |
| CapEx To Revenue | -0.06 | |
| CapEx To Depreciation | -1.65 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 18.9 B | |
| Net Invested Capital | $ 19.9 B | |
| Invested Capital | $ 19.9 B | |
| Net Tangible Assets | $ 33.0 M | |
| Net Working Capital | $ 1.8 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.154 | |
| Current Ratio | 1.492 | |
| Current Ratio QoQ | 4.873 % | |
| Current Ratio YoY | -20.399 % | |
| Current Ratio IPRWA | high: 5.013 mean: 2.82 median: 2.683 IFF: 1.492 low: 1.286 |
|
| Quick Ratio | 0.841 | |
| Quick Ratio QoQ | 2.456 % | |
| Quick Ratio YoY | -38.056 % | |
| Quick Ratio IPRWA | high: 1.966 median: 1.607 mean: 1.583 low: 0.865 IFF: 0.841 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.896 | |
| Cost Of Debt | 0.548 % | |
| Interest Coverage Ratio | 5.75 | |
| Interest Coverage Ratio QoQ | 296.831 % | |
| Interest Coverage Ratio YoY | -144.231 % | |
| Interest Coverage Ratio IPRWA | high: 24.733 mean: 9.414 IFF: 5.75 median: 4.847 low: -1.302 |
|
| Operating Cash Flow Ratio | 0.108 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 71.378 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.657 | |
| Dividend Payout Ratio | 0.604 | |
| Dividend Rate | $ 0.40 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.547 % | |
| Revenue Growth | 5.871 % | |
| Revenue Growth QoQ | -250.616 % | |
| Revenue Growth YoY | 125.982 % | |
| Revenue Growth IPRWA | high: 24.87 % mean: 11.182 % median: 10.773 % IFF: 5.871 % low: -29.973 % |
|
| Earnings Growth | 56.25 % | |
| Earnings Growth QoQ | -336.245 % | |
| Earnings Growth YoY | 137.232 % | |
| Earnings Growth IPRWA | high: 250.0 % IFF: 56.25 % mean: 18.344 % median: -18.269 % low: -119.167 % |
|
| MARGINS | ||
| Gross Margin | 37.14 % | |
| Gross Margin QoQ | 8.04 % | |
| Gross Margin YoY | 2.019 % | |
| Gross Margin IPRWA | high: 40.607 % median: 37.34 % IFF: 37.14 % mean: 36.132 % low: 30.498 % |
|
| EBIT Margin | 9.23 % | |
| EBIT Margin QoQ | 236.616 % | |
| EBIT Margin YoY | -128.43 % | |
| EBIT Margin IPRWA | high: 23.954 % mean: 13.484 % median: 12.405 % IFF: 9.23 % low: -11.126 % |
|
| Return On Sales (ROS) | 10.179 % | |
| Return On Sales QoQ | 133.196 % | |
| Return On Sales YoY | -131.353 % | |
| Return On Sales IPRWA | high: 21.386 % mean: 13.934 % median: 13.262 % IFF: 10.179 % low: -7.473 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 92.0 M | |
| Free Cash Flow Yield | 0.501 % | |
| Free Cash Flow Yield QoQ | -31.837 % | |
| Free Cash Flow Yield YoY | -293.436 % | |
| Free Cash Flow Yield IPRWA | high: 1.666 % IFF: 0.501 % mean: -0.49 % median: -1.064 % low: -2.935 % |
|
| Free Cash Growth | -29.231 % | |
| Free Cash Growth QoQ | -108.769 % | |
| Free Cash Growth YoY | -76.615 % | |
| Free Cash Growth IPRWA | high: 305.601 % IFF: -29.231 % median: -203.667 % mean: -251.237 % low: -916.351 % |
|
| Free Cash To Net Income | 0.544 | |
| Cash Flow Margin | 14.374 % | |
| Cash Flow To Earnings | 2.331 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.667 % | |
| Return On Assets QoQ | 451.24 % | |
| Return On Assets YoY | -118.652 % | |
| Return On Assets IPRWA | high: 3.375 % median: 1.949 % mean: 1.511 % IFF: 0.667 % low: -2.945 % |
|
| Return On Capital Employed (ROCE) | 1.177 % | |
| Return On Equity (ROE) | 0.012 | |
| Return On Equity QoQ | 446.575 % | |
| Return On Equity YoY | -115.493 % | |
| Return On Equity IPRWA | high: 0.068 median: 0.031 mean: 0.012 IFF: 0.012 low: -0.154 |
|
| DuPont ROE | 1.195 % | |
| Return On Invested Capital (ROIC) | 1.032 % | |
| Return On Invested Capital QoQ | 271.223 % | |
| Return On Invested Capital YoY | -141.866 % | |
| Return On Invested Capital IPRWA | high: 4.674 % mean: 2.127 % median: 1.844 % IFF: 1.032 % low: -0.797 % |
|