Recent News
On Feb 12 the company reached a new 12‑month high; Feb 14 brought a published downgrade to Hold from an independent research source; Feb 21 included a consensus broker recommendation classified as “Moderate Buy” alongside reported institutional share transactions and later public director disclosures in March.
Technical Analysis
The ADX at 22.89 signals an emerging trend rather than a fully established one; both directional indicators show reversal behavior—DI+ has completed a dip-and-reversal and DI- shows a peak-and-reversal—indicating directional pressure shifting in favor of buyers despite DI- remaining numerically above DI+; that shift supports the headline view of a potential short-term momentum rebound.
MACD stands negative at -1.10 with a decreasing trend and a signal line at -0.66, a pattern that denotes prevailing bearish momentum; the declining MACD tempers the bullish implications from directional indicators and suggests momentum breadth requires confirmation before strength becomes durable.
The MRO reads 8.1 with a dip-and-reversal; the positive MRO level indicates price sits modestly above the model target and carries limited mean‑reversion downside if selling resumes, while the dip-and-reversal in MRO supports a near-term constructive tilt for price alignment with valuation.
RSI at 47.36 and decreasing shows neutral-to-weak momentum; the combination of an emerging ADX, reversal signals on the DIs, and a sub‑50 RSI favors a range-bound recovery toward the short-term moving averages rather than an immediate breakout.
Price relationships show current close $46.93 below the ichimoku Kijun and Senkou lines (~$51.53) and below the 20‑day average ($49.31), while the 200‑day average sits at $44.97; Bollinger bands center near $49.31 with 1×/2× bands at $51.34/$53.38 and $47.28/$45.25 on the lower side, implying resistance clustered near $50–$53 and support nearer the $45–$47 area.
Fundamental Analysis
Profitability: EBIT of $1,842,000,000 produces an EBIT margin of 28.23%, which sits above the industry peer mean of 22.04% and the industry peer median of 15.85%, and expands sharply YoY (+121.67%) though it fell QoQ (-11.84%). Operating margin mirrors this strength at 29.15% with an operating‑margin YoY increase of +128.89% and a small QoQ contraction of -0.93%.
Earnings and cash flow: Reported EPS $4.06 versus an estimate $2.43 yields an EPS surprise of +67.08%. Operating cash flow reached $3,443,000,000 and free cash flow $3,238,000,000, producing a free cash flow yield of 2.10% and free cash flow to net income of 276.04%—cash generation supports corporate flexibility even as free cash flow growth rates show mixed quarterly dynamics.
Revenue and growth: Total revenue $6,525,000,000 with reported revenue growth of -6.26% and a revenue growth QoQ figure of -175.22% and YoY figure of -230.97% as reported; those QoQ/YoY values indicate sharp reported contractions over the measured intervals and remain a material offset to margin expansion when assessing near‑term operating momentum.
Balance sheet and leverage: Total debt $36,069,000,000 and debt to EBITDA of 16.82 indicate elevated leverage levels; debt to equity at 281.70% and debt to assets at 55.68% reflect a debt‑heavy capitalization. Interest coverage remains robust at 21.42×, providing coverage buffer despite high nominal leverage.
Efficiency and working capital: Asset turnover at 10.17% falls below the industry peer mean of 20.35%, pointing to lower revenue per asset dollar; the cash conversion cycle at -8.56 days denotes favorable working capital timing, while net working capital remains negative at -$1,692,000,000.
Valuation: Price multiples show a P/E of 12.38×, P/S of 23.66×, and P/B of 12.06× (above the industry peer mean and median for P/B). Enterprise multiple near 81.69 and forward P/E of 57.27x highlight divergence between trailing profit metrics and forward expectations. WMDST values the stock as over‑valued given stretched market multiples relative to operating and revenue dynamics.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-03-18 |
| NEXT REPORT DATE: | 2026-06-17 |
| CASH FLOW | Begin Period Cash Flow | $ 7.3 B |
| Operating Cash Flow | $ 3.4 B | |
| Capital Expenditures | $ -205.00 M | |
| Change In Working Capital | $ 594.0 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 3.3 B | |
| End Period Cash Flow | $ 10.5 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 6.5 B | |
| Forward Revenue | $ 3.3 B | |
| COSTS | ||
| Cost Of Revenue | $ 3.9 B | |
| Depreciation | $ 302.0 M | |
| Depreciation and Amortization | $ 302.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 4.6 B | |
| PROFITABILITY | ||
| Gross Profit | $ 2.6 B | |
| EBITDA | $ 2.1 B | |
| EBIT | $ 1.8 B | |
| Operating Income | $ 1.9 B | |
| Interest Income | $ 62.0 M | |
| Interest Expense | $ 86.0 M | |
| Net Interest Income | $ -24.00 M | |
| Income Before Tax | $ 1.8 B | |
| Tax Provision | $ 571.0 M | |
| Tax Rate | 32.517 % | |
| Net Income | $ 1.2 B | |
| Net Income From Continuing Operations | $ 1.2 B | |
| EARNINGS | ||
| EPS Estimate | $ 2.43 | |
| EPS Actual | $ 4.06 | |
| EPS Difference | $ 1.63 | |
| EPS Surprise | 67.078 % | |
| Forward EPS | $ 0.78 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 64.8 B | |
| Intangible Assets | $ 10.6 B | |
| Net Tangible Assets | $ 2.2 B | |
| Total Current Assets | $ 17.4 B | |
| Cash and Short-Term Investments | $ 15.3 B | |
| Cash | $ 10.4 B | |
| Net Receivables | $ 723.0 M | |
| Inventory | $ 57.0 M | |
| Long-Term Investments | $ 1.4 B | |
| LIABILITIES | ||
| Accounts Payable | $ 1.0 B | |
| Short-Term Debt | $ 5.3 B | |
| Total Current Liabilities | $ 19.1 B | |
| Net Debt | — | |
| Total Debt | $ 36.1 B | |
| Total Liabilities | $ 51.8 B | |
| EQUITY | ||
| Total Equity | $ 12.8 B | |
| Retained Earnings | $ 3.6 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 4.17 | |
| Shares Outstanding | 3.072 B | |
| Revenue Per-Share | $ 2.12 | |
| VALUATION | Market Capitalization | $ 154.4 B |
| Enterprise Value | $ 175.1 B | |
| Enterprise Multiple | 81.693 | |
| Enterprise Multiple QoQ | 46.069 % | |
| Enterprise Multiple YoY | -32.069 % | |
| Enterprise Multiple IPRWA | high: 130.17 HTHT: 81.693 mean: 79.719 median: 73.484 low: -2.827 |
|
| EV/R | 26.843 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 5.059 | |
| Asset To Liability | 1.25 | |
| Debt To Capital | 0.738 | |
| Debt To Assets | 0.557 | |
| Debt To Assets QoQ | -4.77 % | |
| Debt To Assets YoY | -1.731 % | |
| Debt To Assets IPRWA | high: 1.609 median: 0.781 mean: 0.71 HTHT: 0.557 low: 0.019 |
|
| Debt To Equity | 2.817 | |
| Debt To Equity QoQ | -9.943 % | |
| Debt To Equity YoY | -3.223 % | |
| Debt To Equity IPRWA | high: 12.912 HTHT: 2.817 mean: -0.066 median: -1.681 low: -8.585 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 12.056 | |
| Price To Book QoQ | 20.863 % | |
| Price To Book YoY | 37.877 % | |
| Price To Book IPRWA | high: 26.123 HTHT: 12.056 median: 0.928 mean: -0.999 low: -26.316 |
|
| Price To Earnings (P/E) | 12.378 | |
| Price To Earnings QoQ | 52.979 % | |
| Price To Earnings YoY | -62.48 % | |
| Price To Earnings IPRWA | high: 247.068 mean: 125.657 median: 119.266 HTHT: 12.378 low: -96.27 |
|
| PE/G Ratio | -0.842 | |
| Price To Sales (P/S) | 23.657 | |
| Price To Sales QoQ | 38.968 % | |
| Price To Sales YoY | 33.823 % | |
| Price To Sales IPRWA | high: 27.836 HTHT: 23.657 mean: 13.876 median: 12.243 low: 0.273 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 57.266 | |
| Forward PE/G | -3.894 | |
| Forward P/S | 46.549 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 2.772 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.102 | |
| Asset Turnover Ratio QoQ | -6.268 % | |
| Asset Turnover Ratio YoY | 5.182 % | |
| Asset Turnover Ratio IPRWA | high: 0.603 mean: 0.204 median: 0.185 HTHT: 0.102 low: 0.043 |
|
| Receivables Turnover | 7.699 | |
| Receivables Turnover Ratio QoQ | 0.539 % | |
| Receivables Turnover Ratio YoY | 7.376 % | |
| Receivables Turnover Ratio IPRWA | high: 47.268 HTHT: 7.699 mean: 7.599 median: 3.172 low: 0.996 |
|
| Inventory Turnover | 66.458 | |
| Inventory Turnover Ratio QoQ | 0.619 % | |
| Inventory Turnover Ratio YoY | -2.455 % | |
| Inventory Turnover Ratio IPRWA | HTHT: 66.458 high: 56.869 median: 41.341 mean: 31.279 low: 0.802 |
|
| Days Sales Outstanding (DSO) | 11.852 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -8.557 | |
| Cash Conversion Cycle Days QoQ | 7.745 % | |
| Cash Conversion Cycle Days YoY | -13.778 % | |
| Cash Conversion Cycle Days IPRWA | high: 84.283 mean: 7.144 median: 2.075 HTHT: -8.557 low: -80.186 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -3.856 | |
| CapEx To Revenue | -0.031 | |
| CapEx To Depreciation | -0.679 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 13.3 B | |
| Net Invested Capital | $ 18.6 B | |
| Invested Capital | $ 18.6 B | |
| Net Tangible Assets | $ 2.2 B | |
| Net Working Capital | $ -1.69 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.799 | |
| Current Ratio | 0.912 | |
| Current Ratio QoQ | 7.469 % | |
| Current Ratio YoY | -8.115 % | |
| Current Ratio IPRWA | high: 2.73 mean: 0.992 median: 0.955 HTHT: 0.912 low: 0.36 |
|
| Quick Ratio | 0.909 | |
| Quick Ratio QoQ | 7.541 % | |
| Quick Ratio YoY | -7.998 % | |
| Quick Ratio IPRWA | high: 2.688 mean: 0.967 median: 0.941 HTHT: 0.909 low: 0.162 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 16.823 | |
| Cost Of Debt | 0.16 % | |
| Interest Coverage Ratio | 21.419 | |
| Interest Coverage Ratio QoQ | -17.362 % | |
| Interest Coverage Ratio YoY | 106.646 % | |
| Interest Coverage Ratio IPRWA | HTHT: 21.419 high: 16.489 median: 5.827 mean: 5.744 low: -12.905 |
|
| Operating Cash Flow Ratio | 0.096 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 21.734 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.923 % | |
| Revenue Growth | -6.263 % | |
| Revenue Growth QoQ | -175.222 % | |
| Revenue Growth YoY | -230.97 % | |
| Revenue Growth IPRWA | high: 27.02 % mean: -0.373 % median: -0.975 % HTHT: -6.263 % low: -38.858 % |
|
| Earnings Growth | -14.706 % | |
| Earnings Growth QoQ | -219.912 % | |
| Earnings Growth YoY | -80.648 % | |
| Earnings Growth IPRWA | high: 256.238 % mean: -8.138 % median: -8.333 % HTHT: -14.706 % low: -219.355 % |
|
| MARGINS | ||
| Gross Margin | 39.908 % | |
| Gross Margin QoQ | -4.173 % | |
| Gross Margin YoY | 31.134 % | |
| Gross Margin IPRWA | high: 82.469 % median: 40.509 % mean: 40.025 % HTHT: 39.908 % low: -4.539 % |
|
| EBIT Margin | 28.23 % | |
| EBIT Margin QoQ | -11.839 % | |
| EBIT Margin YoY | 121.673 % | |
| EBIT Margin IPRWA | high: 58.736 % HTHT: 28.23 % mean: 22.036 % median: 15.849 % low: -42.727 % |
|
| Return On Sales (ROS) | 29.149 % | |
| Return On Sales QoQ | -0.925 % | |
| Return On Sales YoY | 128.889 % | |
| Return On Sales IPRWA | high: 45.049 % HTHT: 29.149 % mean: 22.552 % median: 17.057 % low: -37.15 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 3.2 B | |
| Free Cash Flow Yield | 2.098 % | |
| Free Cash Flow Yield QoQ | 66.508 % | |
| Free Cash Flow Yield YoY | -10.609 % | |
| Free Cash Flow Yield IPRWA | high: 7.195 % HTHT: 2.098 % mean: 0.875 % median: 0.741 % low: -14.882 % |
|
| Free Cash Growth | 116.879 % | |
| Free Cash Growth QoQ | -395.485 % | |
| Free Cash Growth YoY | 70.886 % | |
| Free Cash Growth IPRWA | high: 149.518 % HTHT: 116.879 % mean: -32.248 % median: -39.842 % low: -365.169 % |
|
| Free Cash To Net Income | 2.76 | |
| Cash Flow Margin | 28.092 % | |
| Cash Flow To Earnings | 1.563 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.828 % | |
| Return On Assets QoQ | -20.14 % | |
| Return On Assets YoY | 2213.924 % | |
| Return On Assets IPRWA | high: 6.953 % mean: 2.398 % HTHT: 1.828 % median: 1.778 % low: -1.795 % |
|
| Return On Capital Employed (ROCE) | 4.035 % | |
| Return On Equity (ROE) | 0.092 | |
| Return On Equity QoQ | -25.912 % | |
| Return On Equity YoY | 2178.856 % | |
| Return On Equity IPRWA | high: 0.437 HTHT: 0.092 mean: 0.008 median: -0.035 low: -0.363 |
|
| DuPont ROE | 9.504 % | |
| Return On Invested Capital (ROIC) | 6.676 % | |
| Return On Invested Capital QoQ | -20.287 % | |
| Return On Invested Capital YoY | 104.284 % | |
| Return On Invested Capital IPRWA | high: 20.375 % HTHT: 6.676 % mean: 6.382 % median: 6.096 % low: -5.359 % |
|