Recent News
On March 4, 2026 the company announced changes in its principal shareholders and board composition; on May 10, 2026 the company disclosed a final purchase price related to the change in control; late May 2026 filings describe the sale of indirect holdings in Dorad Energy Ltd.; the company also published an update on the implementation of a separation mechanism concerning Ellomay LuzonEnergy Infrastructures Ltd.
Technical Analysis
Directional indicators show an emerging strength reading: ADX at 24.04 signals an emerging trend, but the directional balance currently favors downside—DI+ at 18.77 decreasing while DI- at 33.8 increasing—so the immediate directional bias pressures near-term price lower relative to the current valuation.
MACD sits negative at -0.76 and trends downward with the MACD below its signal (-0.59), indicating continuing bearish momentum that reduces the likelihood of a sustained near-term reversal until the MACD crosses back above its signal line.
MRO registers 4.8 (positive) with a decreasing trajectory; the positive MRO implies price currently sits above the model target and therefore introduces downside potential, reinforcing short-term negative pressure on price relative to WMDST’s valuation.
RSI at 42.71 and trending down indicates weakening buying pressure; the sub-50 reading supports a bearish near-term outlook and increases sensitivity to further downside moves absent a clear momentum reversal.
Price sits below short- and medium-term averages (priceClose $21.11 versus 20-day average $22.65, 50-day $23.99 and 200-day $22.97) and the 12-day EMA trends lower, reinforcing a bearish bias to near-term price action when assessed against the current over-valued status.
Bollinger structure shows the close near the 1x lower band ($21.10), suggesting limited immediate technical cushion and potential for intraday volatility; traders should watch for any MACD crossover or a DI+ dip-and-reverse as technical conditions that could alter the short-term outlook.
Fundamental Analysis
Revenue expanded strongly year-over-year: YoY revenue growth of 354.05% and a baseline revenue growth figure of 7.45%, yet operating profitability remains negative. EBIT stands at -$4,802,000 and EBITDA at -$287,000, producing an EBIT margin of -55.42%, far below the industry peer mean and median (industry peer mean EBIT margin 33.11%, median 25.798%). QoQ and YoY deterioration in EBIT margin measure -94.18% QoQ and -151.75% YoY, underscoring acute profit compression versus revenue movement.
Cash generation shows strain: operating cash flow negative at -$1,944,000 and free cash flow at -$14,133,000 (free cash flow yield -4.24%, free cash flow yield YoY change -51.55%). Cash and short-term investments total $83,697,000, and end-period cash equals $83,697,000, providing a liquidity buffer even as free cash flow trends negative.
Leverage remains elevated. Total debt $680,306,000 and net debt $559,418,000 versus market cap $333,312,546 produce a capital structure that registers debt-to-assets at 76.84%, materially above the industry peer mean (42.976%) and debt-to-equity at 5.06 (industry peer mean 3.670). Interest expense $6,116,000 and an interest coverage ratio of -0.79 reflect limited operating coverage of financing costs.
Balance-sheet and efficiency metrics present mixed signals: current ratio 1.40 exceeds the industry peer mean of 0.865, indicating near-term liquidity above peers, while asset turnover at 0.01002 falls well below the industry peer mean (0.09512), signaling low revenue generation from assets despite YoY revenue growth. Book value per share $9.75 pairs with a P/B ratio of 2.48 that sits above the industry peer mean 1.35 and slightly above the industry peer median 2.34.
Valuation context: enterprise value stands at $929,921,546 with an enterprise multiple deeply negative (enterprise multiple -3240.14) driven by negative EBITDA; price-to-sales sits at 38.47, substantially above the industry peer mean of 7.49 and the high of the peer range. The current valuation as determined by WMDST classifies the stock as over-valued, reflecting high relative multiples coupled with negative operating profitability and elevated leverage.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-06-29 |
| NEXT REPORT DATE: | 2026-09-28 |
| CASH FLOW | Begin Period Cash Flow | $ 87.6 M |
| Operating Cash Flow | $ -1.94 M | |
| Capital Expenditures | $ -12.19 M | |
| Change In Working Capital | $ -636.00 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -3.92 M | |
| End Period Cash Flow | $ 83.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 8.7 M | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | $ 9.6 M | |
| Depreciation | $ 4.5 M | |
| Depreciation and Amortization | $ 4.5 M | |
| Research and Development | $ 375.0 K | |
| Total Operating Expenses | $ 11.4 M | |
| PROFITABILITY | ||
| Gross Profit | $ -928.00 K | |
| EBITDA | $ -287.00 K | |
| EBIT | $ -4.80 M | |
| Operating Income | $ -2.70 M | |
| Interest Income | $ 616.0 K | |
| Interest Expense | $ 6.1 M | |
| Net Interest Income | $ -8.71 M | |
| Income Before Tax | $ -10.92 M | |
| Tax Provision | $ 1.6 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -10.44 M | |
| Net Income From Continuing Operations | $ -12.22 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | — | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 885.4 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 134.4 M | |
| Total Current Assets | $ 194.1 M | |
| Cash and Short-Term Investments | $ 83.7 M | |
| Cash | $ 83.7 M | |
| Net Receivables | $ 8.5 M | |
| Inventory | — | |
| Long-Term Investments | $ 16.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 5.4 M | |
| Short-Term Debt | $ 105.0 M | |
| Total Current Liabilities | $ 138.4 M | |
| Net Debt | $ 559.4 M | |
| Total Debt | $ 680.3 M | |
| Total Liabilities | $ 726.5 M | |
| EQUITY | ||
| Total Equity | $ 134.4 M | |
| Retained Earnings | $ -24.14 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 9.75 | |
| Shares Outstanding | 13.783 M | |
| Revenue Per-Share | $ 0.63 | |
| VALUATION | Market Capitalization | $ 333.3 M |
| Enterprise Value | $ 929.9 M | |
| Enterprise Multiple | -3240.145 | |
| Enterprise Multiple QoQ | 2114.253 % | |
| Enterprise Multiple YoY | -6335.564 % | |
| Enterprise Multiple IPRWA | high: 100.362 median: 33.812 mean: 33.345 low: -13.125 ELLO: -3240.145 |
|
| EV/R | 107.319 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 6.589 | |
| Asset To Liability | 1.219 | |
| Debt To Capital | 0.835 | |
| Debt To Assets | 0.768 | |
| Debt To Assets QoQ | 1.704 % | |
| Debt To Assets YoY | -2.041 % | |
| Debt To Assets IPRWA | ELLO: 0.768 high: 0.587 median: 0.482 mean: 0.43 low: 0.187 |
|
| Debt To Equity | 5.062 | |
| Debt To Equity QoQ | 11.683 % | |
| Debt To Equity YoY | 7.083 % | |
| Debt To Equity IPRWA | high: 7.013 median: 6.38 ELLO: 5.062 mean: 3.67 low: -5.708 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.48 | |
| Price To Book QoQ | 0.088 % | |
| Price To Book YoY | 35.541 % | |
| Price To Book IPRWA | high: 4.788 ELLO: 2.48 median: 2.34 mean: 1.349 low: -2.783 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | 38.467 | |
| Price To Sales QoQ | -88.672 % | |
| Price To Sales YoY | 55.642 % | |
| Price To Sales IPRWA | ELLO: 38.467 high: 17.165 median: 9.609 mean: 7.49 low: 0.066 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | — | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -0.068 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.01 | |
| Asset Turnover Ratio QoQ | 682.812 % | |
| Asset Turnover Ratio YoY | -20.916 % | |
| Asset Turnover Ratio IPRWA | high: 0.136 mean: 0.095 median: 0.09 low: 0.017 ELLO: 0.01 |
|
| Receivables Turnover | 1.84 | |
| Receivables Turnover Ratio QoQ | 475.604 % | |
| Receivables Turnover Ratio YoY | -28.442 % | |
| Receivables Turnover Ratio IPRWA | high: 2.619 median: 2.448 mean: 2.077 ELLO: 1.84 low: 1.032 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 49.59 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -13.959 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 58.932 median: 20.441 mean: -0.825 ELLO: -13.959 low: -229.515 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.155 | |
| CapEx To Revenue | -1.407 | |
| CapEx To Depreciation | -2.7 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 672.5 M | |
| Net Invested Capital | $ 777.5 M | |
| Invested Capital | $ 777.5 M | |
| Net Tangible Assets | $ 134.4 M | |
| Net Working Capital | $ 55.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.605 | |
| Current Ratio | 1.403 | |
| Current Ratio QoQ | 13.024 % | |
| Current Ratio YoY | 41.509 % | |
| Current Ratio IPRWA | ELLO: 1.403 high: 1.069 median: 0.896 mean: 0.865 low: 0.333 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -2370.404 | |
| Cost Of Debt | 0.557 % | |
| Interest Coverage Ratio | -0.785 | |
| Interest Coverage Ratio QoQ | -53.026 % | |
| Interest Coverage Ratio YoY | -129.724 % | |
| Interest Coverage Ratio IPRWA | high: 9.768 median: 5.988 mean: 4.901 ELLO: -0.785 low: -5.228 |
|
| Operating Cash Flow Ratio | -0.107 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 63.549 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.967 % | |
| Revenue Growth | 744.542 % | |
| Revenue Growth QoQ | -909.813 % | |
| Revenue Growth YoY | 35405.103 % | |
| Revenue Growth IPRWA | ELLO: 744.542 % high: 46.325 % median: 23.037 % mean: 14.208 % low: -28.169 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | -10.71 % | |
| Gross Margin QoQ | -98.564 % | |
| Gross Margin YoY | 19025.0 % | |
| Gross Margin IPRWA | high: 71.704 % median: 42.73 % mean: 41.823 % low: 14.826 % ELLO: -10.71 % |
|
| EBIT Margin | -55.418 % | |
| EBIT Margin QoQ | -94.179 % | |
| EBIT Margin YoY | -151.75 % | |
| EBIT Margin IPRWA | high: 60.241 % mean: 33.112 % median: 25.798 % low: 18.228 % ELLO: -55.418 % |
|
| Return On Sales (ROS) | -31.137 % | |
| Return On Sales QoQ | -107.246 % | |
| Return On Sales YoY | 9.734 % | |
| Return On Sales IPRWA | high: 52.164 % mean: 27.201 % median: 26.578 % low: 1.262 % ELLO: -31.137 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -14.13 M | |
| Free Cash Flow Yield | -4.24 % | |
| Free Cash Flow Yield QoQ | -67.203 % | |
| Free Cash Flow Yield YoY | -51.554 % | |
| Free Cash Flow Yield IPRWA | high: 0.988 % median: 0.583 % mean: -0.5 % ELLO: -4.24 % low: -5.462 % |
|
| Free Cash Growth | -68.622 % | |
| Free Cash Growth QoQ | -158.352 % | |
| Free Cash Growth YoY | 572.963 % | |
| Free Cash Growth IPRWA | high: -12.075 % median: -46.98 % ELLO: -68.622 % mean: -85.046 % low: -369.729 % |
|
| Free Cash To Net Income | 1.353 | |
| Cash Flow Margin | -170.548 % | |
| Cash Flow To Earnings | 1.415 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -1.208 % | |
| Return On Assets QoQ | -22.959 % | |
| Return On Assets YoY | -205.687 % | |
| Return On Assets IPRWA | high: 4.904 % median: 2.484 % mean: 2.438 % low: 0.268 % ELLO: -1.208 % |
|
| Return On Capital Employed (ROCE) | -0.643 % | |
| Return On Equity (ROE) | -0.078 | |
| Return On Equity QoQ | -13.096 % | |
| Return On Equity YoY | -216.332 % | |
| Return On Equity IPRWA | high: 0.831 median: 0.33 mean: 0.233 low: 0.011 ELLO: -0.078 |
|
| DuPont ROE | -7.593 % | |
| Return On Invested Capital (ROIC) | -0.371 % | |
| Return On Invested Capital QoQ | -70.438 % | |
| Return On Invested Capital YoY | -133.095 % | |
| Return On Invested Capital IPRWA | high: 5.363 % median: 5.363 % mean: 3.627 % low: 0.744 % ELLO: -0.371 % |
|