Recent News
On May 7, 2026 the company declared a quarterly dividend, increasing return to shareholders. On May 20, 2026 a new store opened in Walla Walla, Washington, and on June 10, 2026 the company opened its first Wisconsin location in Lake Geneva, expanding geographic reach in the upper Midwest.
Technical Analysis
ADX at 17.28 indicates no established trend, suggesting price action remains guided by short-term momentum rather than a dominant directional move.
DI+ registered a dip & reversal at 23.97 while DI- decreased to 15.66; the combination registers a bullish directional setup and supports a near-term price bias higher.
MACD sits at 0.80 above its signal line of 0.62 with the MACD trend increasing; the MACD crossing above the signal line confirms bullish momentum and favors upward pressure on price.
MRO remains negative at -2.79 but the MRO trend increases; a negative MRO indicates the price trades below the model target and, with the rising MRO trend, implies potential for mean reversion upward toward the target level.
RSI at 58.43 and rising shows buying momentum without overbought conditions and supports further upside before momentum exhaustion becomes a concern.
Price sits above the 12-day EMA ($30.23), the 50-day average ($28.17), and the 200-day average ($29.51); the short- and medium-term moving average alignment with an increasing 12-day EMA indicates constructive price structure relative to the valuation baseline.
Price trades slightly above the 1x Bollinger upper band (1σ upper: $31.04; close: $31.58), signaling a short-term extension that often resolves through consolidation rather than immediate reversal.
Volume at 42,520 runs materially below the 10-, 50- and 200-day averages; the weaker volume on recent trades suggests moves lack heavy conviction and increases the likelihood of short consolidations before decisive directional continuation.
Fundamental Analysis
EPS for the period arrived at $0.58, beating the estimate of $0.55 by $0.03, an EPS surprise of 5.46%. The company reported total revenue of $337,376,000 for the period.
WMDST-calculated operating performance shows EBIT of $18,105,000 and an EBIT margin of 5.37%, up 22.93% QoQ and up 2.64% YoY; the EBIT margin sits above the industry peer mean of 3.60%, indicating stronger operating profitability versus the peer average.
Gross margin at 30.37% slightly exceeded the industry peer mean of 21.05%, and gross margin improved 3.08 percentage points QoQ; higher gross margin supports cash generation and underpins the current valuation assessment.
Revenue growth shows mixed signals: the consolidated revenue figure stands at $337.4M while the reported revenue growth YoY reads -68.16%; QoQ revenue dynamics contracted by 4.20%. Use of the absolute revenue line with margin expansion highlights that profitability gains stem from cost and margin management rather than large top-line acceleration.
Cash flow metrics show operating cash flow of $22,705,000 and free cash flow of $1,924,000, with a free cash flow yield of 0.31% and free cash flow down meaningfully YoY; the cash conversion ratio of 41.78% signals earnings convert to cash at a moderate rate, though free cash generation softened in the period.
Balance-sheet leverage reflects total debt of $324,522,000, debt-to-assets of 47.40%, and debt-to-equity of 140.55%; interest coverage at 28.65x remains robust and indicates capacity to service debt from operating income.
Return metrics: return on equity at 5.82% and return on invested capital at 5.99% improved QoQ but remain modest in absolute terms; return on equity declined YoY by 14.30% while QoQ rose 12.93%, showing recent improvement against a weaker year-ago base.
Valuation context: trailing P/E stands at 46.49x with a forward P/E around 45.67x and price-to-book near 2.69x. The current valuation as determined by WMDST reads under-valued, supported by WMDST’s enterprise-value-to-revenue and cash-flow considerations despite elevated multiples on earnings. The enterprise multiple at 35.24 and EV-to-revenue dynamics reflect the market’s current pricing of future growth versus near-term cash conversion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 23.2 M |
| Operating Cash Flow | $ 22.7 M | |
| Capital Expenditures | $ -20.78 M | |
| Change In Working Capital | $ -360.00 K | |
| Dividends Paid | $ -3.46 M | |
| Cash Flow Delta | $ -2.49 M | |
| End Period Cash Flow | $ 20.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 337.4 M | |
| Forward Revenue | $ 83.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 234.9 M | |
| Depreciation | $ 8.2 M | |
| Depreciation and Amortization | $ 8.2 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 318.6 M | |
| PROFITABILITY | ||
| Gross Profit | $ 102.4 M | |
| EBITDA | $ 26.3 M | |
| EBIT | $ 18.1 M | |
| Operating Income | $ 18.7 M | |
| Interest Income | — | |
| Interest Expense | $ 632.0 K | |
| Net Interest Income | $ -632.00 K | |
| Income Before Tax | $ 17.5 M | |
| Tax Provision | $ 4.0 M | |
| Tax Rate | 23.1 % | |
| Net Income | $ 13.4 M | |
| Net Income From Continuing Operations | $ 13.4 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.55 | |
| EPS Actual | $ 0.58 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 5.455 % | |
| Forward EPS | $ 0.58 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 684.7 M | |
| Intangible Assets | $ 16.6 M | |
| Net Tangible Assets | $ 214.3 M | |
| Total Current Assets | $ 170.6 M | |
| Cash and Short-Term Investments | $ 20.7 M | |
| Cash | $ 20.7 M | |
| Net Receivables | $ 13.1 M | |
| Inventory | $ 129.7 M | |
| Long-Term Investments | $ 2.0 K | |
| LIABILITIES | ||
| Accounts Payable | $ 89.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 162.5 M | |
| Net Debt | — | |
| Total Debt | $ 324.5 M | |
| Total Liabilities | $ 453.8 M | |
| EQUITY | ||
| Total Equity | $ 230.9 M | |
| Retained Earnings | $ 167.2 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 10.02 | |
| Shares Outstanding | 23.041 M | |
| Revenue Per-Share | $ 14.64 | |
| VALUATION | Market Capitalization | $ 621.3 M |
| Enterprise Value | $ 925.1 M | |
| Enterprise Multiple | 35.235 | |
| Enterprise Multiple QoQ | -16.038 % | |
| Enterprise Multiple YoY | -32.398 % | |
| Enterprise Multiple IPRWA | high: 177.808 mean: 100.349 median: 95.426 NGVC: 35.235 low: -17.674 |
|
| EV/R | 2.742 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.965 | |
| Asset To Liability | 1.509 | |
| Debt To Capital | 0.584 | |
| Debt To Assets | 0.474 | |
| Debt To Assets QoQ | -2.485 % | |
| Debt To Assets YoY | -6.132 % | |
| Debt To Assets IPRWA | high: 0.658 NGVC: 0.474 median: 0.236 mean: 0.213 low: 0.063 |
|
| Debt To Equity | 1.405 | |
| Debt To Equity QoQ | -4.838 % | |
| Debt To Equity YoY | -19.173 % | |
| Debt To Equity IPRWA | high: 4.166 NGVC: 1.405 mean: 0.674 median: 0.674 low: 0.091 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.691 | |
| Price To Book QoQ | -8.568 % | |
| Price To Book YoY | -48.67 % | |
| Price To Book IPRWA | high: 13.252 mean: 10.122 median: 9.416 NGVC: 2.691 low: 0.516 |
|
| Price To Earnings (P/E) | 46.495 | |
| Price To Earnings QoQ | -18.962 % | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | high: 209.27 mean: 167.702 median: 159.058 NGVC: 46.495 low: -84.602 |
|
| PE/G Ratio | 2.531 | |
| Price To Sales (P/S) | 1.842 | |
| Price To Sales QoQ | -4.556 % | |
| Price To Sales YoY | -38.876 % | |
| Price To Sales IPRWA | high: 6.11 mean: 5.02 median: 4.92 NGVC: 1.842 low: 0.111 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 45.669 | |
| Forward PE/G | 2.486 | |
| Forward P/S | 7.438 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 44.088 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.499 | |
| Asset Turnover Ratio QoQ | -0.521 % | |
| Asset Turnover Ratio YoY | -2.476 % | |
| Asset Turnover Ratio IPRWA | high: 1.073 mean: 0.713 median: 0.665 NGVC: 0.499 low: 0.281 |
|
| Receivables Turnover | 29.28 | |
| Receivables Turnover Ratio QoQ | -4.39 % | |
| Receivables Turnover Ratio YoY | 6.142 % | |
| Receivables Turnover Ratio IPRWA | high: 36.242 NGVC: 29.28 mean: 17.188 median: 16.374 low: 2.752 |
|
| Inventory Turnover | 1.824 | |
| Inventory Turnover Ratio QoQ | 0.51 % | |
| Inventory Turnover Ratio YoY | -3.889 % | |
| Inventory Turnover Ratio IPRWA | high: 8.49 mean: 2.67 median: 2.313 NGVC: 1.824 low: 1.785 |
|
| Days Sales Outstanding (DSO) | 3.116 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 19.302 | |
| Cash Conversion Cycle Days QoQ | -9.947 % | |
| Cash Conversion Cycle Days YoY | 2.195 % | |
| Cash Conversion Cycle Days IPRWA | high: 48.732 NGVC: 19.302 median: 3.536 mean: 3.224 low: -15.736 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 41.775 | |
| CapEx To Revenue | -0.062 | |
| CapEx To Depreciation | -2.55 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 232.3 M | |
| Net Invested Capital | $ 232.3 M | |
| Invested Capital | $ 232.3 M | |
| Net Tangible Assets | $ 214.3 M | |
| Net Working Capital | $ 8.1 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.128 | |
| Current Ratio | 1.05 | |
| Current Ratio QoQ | -1.588 % | |
| Current Ratio YoY | 7.848 % | |
| Current Ratio IPRWA | high: 3.341 NGVC: 1.05 mean: 0.894 low: 0.79 median: 0.79 |
|
| Quick Ratio | 0.252 | |
| Quick Ratio QoQ | 1.069 % | |
| Quick Ratio YoY | 9.656 % | |
| Quick Ratio IPRWA | high: 1.769 mean: 0.371 NGVC: 0.252 median: 0.242 low: 0.197 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.36 | |
| Cost Of Debt | 0.15 % | |
| Interest Coverage Ratio | 28.647 | |
| Interest Coverage Ratio QoQ | 39.451 % | |
| Interest Coverage Ratio YoY | 22.403 % | |
| Interest Coverage Ratio IPRWA | high: 31.451 NGVC: 28.647 median: 9.42 mean: 9.091 low: -24.203 |
|
| Operating Cash Flow Ratio | 0.137 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 33.458 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 3.888 | |
| Dividend Payout Ratio | 0.257 | |
| Dividend Rate | $ 0.15 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.415 % | |
| Revenue Growth | 0.535 % | |
| Revenue Growth QoQ | -420.359 % | |
| Revenue Growth YoY | -68.155 % | |
| Revenue Growth IPRWA | high: 10.018 % median: 6.217 % mean: 4.778 % NGVC: 0.535 % low: -13.092 % |
|
| Earnings Growth | 18.367 % | |
| Earnings Growth QoQ | -568.307 % | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | high: 85.87 % median: 19.355 % NGVC: 18.367 % mean: 12.664 % low: -67.742 % |
|
| MARGINS | ||
| Gross Margin | 30.365 % | |
| Gross Margin QoQ | 3.075 % | |
| Gross Margin YoY | 0.205 % | |
| Gross Margin IPRWA | high: 39.382 % NGVC: 30.365 % median: 24.673 % mean: 21.047 % low: 4.879 % |
|
| EBIT Margin | 5.366 % | |
| EBIT Margin QoQ | 22.932 % | |
| EBIT Margin YoY | 2.64 % | |
| EBIT Margin IPRWA | high: 9.269 % NGVC: 5.366 % mean: 3.602 % median: 3.503 % low: -2.543 % |
|
| Return On Sales (ROS) | 5.556 % | |
| Return On Sales QoQ | 24.184 % | |
| Return On Sales YoY | 6.274 % | |
| Return On Sales IPRWA | high: 9.294 % NGVC: 5.556 % median: 4.567 % mean: 4.205 % low: -2.42 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.9 M | |
| Free Cash Flow Yield | 0.31 % | |
| Free Cash Flow Yield QoQ | -82.594 % | |
| Free Cash Flow Yield YoY | -88.615 % | |
| Free Cash Flow Yield IPRWA | high: 9.967 % mean: 0.744 % median: 0.65 % NGVC: 0.31 % low: -1.747 % |
|
| Free Cash Growth | -83.317 % | |
| Free Cash Growth QoQ | -257.267 % | |
| Free Cash Growth YoY | -83.126 % | |
| Free Cash Growth IPRWA | high: 477.689 % median: 224.017 % mean: 127.816 % NGVC: -83.317 % low: -550.0 % |
|
| Free Cash To Net Income | 0.143 | |
| Cash Flow Margin | 6.617 % | |
| Cash Flow To Earnings | 1.662 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.985 % | |
| Return On Assets QoQ | 17.247 % | |
| Return On Assets YoY | -0.501 % | |
| Return On Assets IPRWA | high: 3.885 % NGVC: 1.985 % mean: 1.727 % median: 1.478 % low: -1.785 % |
|
| Return On Capital Employed (ROCE) | 3.467 % | |
| Return On Equity (ROE) | 0.058 | |
| Return On Equity QoQ | 12.927 % | |
| Return On Equity YoY | -14.303 % | |
| Return On Equity IPRWA | high: 0.114 NGVC: 0.058 mean: 0.048 median: 0.043 low: -0.019 |
|
| DuPont ROE | 5.959 % | |
| Return On Invested Capital (ROIC) | 5.991 % | |
| Return On Invested Capital QoQ | 10.637 % | |
| Return On Invested Capital YoY | -15.525 % | |
| Return On Invested Capital IPRWA | NGVC: 5.991 % high: 5.453 % mean: 3.902 % median: 3.403 % low: -3.726 % |
|