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On May 12, 2026 the Board declared a $0.21 per share quarterly cash dividend payable June 15, 2026 to holders of record on June 1, 2026. Analyst activity included a noted initiation of coverage by Deutsche Bank on April 1, 2026 and a Truist price-target adjustment reported mid‑April 2026.
Technical Analysis
Directional indicators show a bullish bias: DI+ sits at 27.75 and is increasing while DI– sits at 18.40 and is decreasing, with ADX at 27.18 indicating a strong emerging trend; the directional setup favors upward price momentum.
MACD reads 0.58 with the MACD line above the 0.01 signal line and trending higher, indicating bullish momentum and a positive momentum crossover.
MRO registers –11.74 but the MRO trend increases; the negative MRO implies the price sits below the model target and therefore carries measurable upside potential as that oscillator moves toward zero.
RSI at 49.91 and increasing places momentum near neutral‑to‑supportive territory, not signaling overbought conditions and leaving room for further upside before typical overbought thresholds.
Price sits above several short‑term averages: the 12‑day EMA (39.96), 20‑day average (38.88) and 50‑day average (39.16), and slightly above the 200‑day average ($41.11); short‑term moving averages and Ichimoku conversion/base lines (both 39.32) sit below the close, supporting the immediate technical bias. Price trades just above the 1× Bollinger upper band ($41.43), indicating a modest short‑term extension rather than an extreme.
Fundamental Analysis
Operating profitability shows mixed signals. EBIT margin equals 8.043% versus an industry peer mean of 9.019%, placing the company below the peer mean while inside the industry peer range. QoQ EBIT margin rose by 16.80%, but YoY EBIT margin declined by 9.64%, indicating recent sequential improvement against longer‑term compression.
Revenue dynamics present divergence: revenue growth year‑over‑year reached 60.45%, while the most recent quarter shows a QoQ revenue change of –123.46% (large negative QoQ change as reported), reflecting pronounced timing or comparability effects between periods.
Reported EPS of $0.78 beat the $0.74 estimate by $0.04, an EPS surprise of +5.41% for the quarter.
Liquidity and cash generation raise concern: operating cash flow equaled –$799.6M and free cash flow equaled –$882.0M, producing a free cash flow yield of –20.01% versus an industry peer mean of about –3.91%, a materially weaker cash‑flow position than peers. The company posted a large change in working capital (–$964.9M) and a cash conversion cycle of 56.34 days versus an industry peer mean near –2.68 days, indicating substantially more cash tied up in operations.
Balance sheet and leverage metrics skew toward higher leverage: debt‑to‑equity stands at 2.01 versus an industry peer mean of 1.55, and debt‑to‑EBITDA measures 22.14, indicating heavy leverage relative to operating earnings. Interest coverage equals 3.03, below the industry peer mean of 3.82, reducing margin for rising interest costs.
Margins and returns sit below peer averages: gross margin at 17.02% trails the industry peer mean of 19.42%, return on equity at 2.72% sits below the industry peer mean of 3.81%, and asset turnover at 0.167 sits slightly below the industry peer mean of 0.194. Current and quick ratios (1.26 and 0.78) sit above their respective industry peer means, providing some short‑term liquidity cushion.
Valuation context and WMDST view: price multiples show elevated absolute levels in market context—forward PE near 42.10 and trailing PE near 53.47—yet P/B (1.90) and PS (2.82) register below industry peer means. Given weak free cash generation, high net debt (~$4.23B) and elevated leverage, WMDST values the stock as over‑valued despite pockets of operational resilience.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-29 |
| NEXT REPORT DATE: | 2026-07-29 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ -799.57 M | |
| Capital Expenditures | $ -82.44 M | |
| Change In Working Capital | $ -964.94 M | |
| Dividends Paid | $ -22.85 M | |
| Cash Flow Delta | $ -645.23 M | |
| End Period Cash Flow | $ 435.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.6 B | |
| Forward Revenue | $ 668.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.3 B | |
| Depreciation | $ 84.9 M | |
| Depreciation and Amortization | $ 84.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.4 B | |
| PROFITABILITY | ||
| Gross Profit | $ 265.8 M | |
| EBITDA | $ 210.5 M | |
| EBIT | $ 125.6 M | |
| Operating Income | $ 135.6 M | |
| Interest Income | — | |
| Interest Expense | $ 41.4 M | |
| Net Interest Income | $ -41.43 M | |
| Income Before Tax | $ 84.1 M | |
| Tax Provision | $ 22.3 M | |
| Tax Rate | 26.5 % | |
| Net Income | $ 63.0 M | |
| Net Income From Continuing Operations | $ 63.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.74 | |
| EPS Actual | $ 0.78 | |
| EPS Difference | $ 0.04 | |
| EPS Surprise | 5.405 % | |
| Forward EPS | $ 1.02 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 9.3 B | |
| Intangible Assets | $ 3.3 B | |
| Net Tangible Assets | $ -1.02 B | |
| Total Current Assets | $ 3.0 B | |
| Cash and Short-Term Investments | $ 435.4 M | |
| Cash | $ 435.4 M | |
| Net Receivables | $ 1.2 B | |
| Inventory | $ 1.1 B | |
| Long-Term Investments | $ 656.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 817.0 M | |
| Short-Term Debt | $ 988.3 M | |
| Total Current Liabilities | $ 2.4 B | |
| Net Debt | $ 4.2 B | |
| Total Debt | $ 4.7 B | |
| Total Liabilities | $ 7.0 B | |
| EQUITY | ||
| Total Equity | $ 2.3 B | |
| Retained Earnings | $ 3.6 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 21.96 | |
| Shares Outstanding | 105.680 M | |
| Revenue Per-Share | $ 14.77 | |
| VALUATION | Market Capitalization | $ 4.4 B |
| Enterprise Value | $ 8.6 B | |
| Enterprise Multiple | 41.008 | |
| Enterprise Multiple QoQ | -2.772 % | |
| Enterprise Multiple YoY | -11.485 % | |
| Enterprise Multiple IPRWA | high: 54.307 median: 47.054 mean: 43.358 SLGN: 41.008 low: 35.912 |
|
| EV/R | 5.529 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.017 | |
| Asset To Liability | 1.331 | |
| Debt To Capital | 0.668 | |
| Debt To Assets | 0.5 | |
| Debt To Assets QoQ | 8.077 % | |
| Debt To Assets YoY | -5.297 % | |
| Debt To Assets IPRWA | SLGN: 0.5 high: 0.452 mean: 0.401 median: 0.395 low: 0.216 |
|
| Debt To Equity | 2.008 | |
| Debt To Equity QoQ | 5.076 % | |
| Debt To Equity YoY | -9.605 % | |
| Debt To Equity IPRWA | high: 2.217 SLGN: 2.008 mean: 1.55 median: 1.394 low: 0.411 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.899 | |
| Price To Book QoQ | -2.132 % | |
| Price To Book YoY | -27.384 % | |
| Price To Book IPRWA | high: 4.016 median: 2.896 mean: 2.883 SLGN: 1.899 low: 1.329 |
|
| Price To Earnings (P/E) | 53.47 | |
| Price To Earnings QoQ | -14.416 % | |
| Price To Earnings YoY | -13.911 % | |
| Price To Earnings IPRWA | high: 79.116 mean: 68.618 median: 67.197 SLGN: 53.47 low: 43.834 |
|
| PE/G Ratio | 3.257 | |
| Price To Sales (P/S) | 2.823 | |
| Price To Sales QoQ | -6.066 % | |
| Price To Sales YoY | -24.016 % | |
| Price To Sales IPRWA | high: 4.5 mean: 3.927 median: 3.645 low: 3.102 SLGN: 2.823 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 42.102 | |
| Forward PE/G | 2.564 | |
| Forward P/S | 6.598 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.831 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.167 | |
| Asset Turnover Ratio QoQ | 7.308 % | |
| Asset Turnover Ratio YoY | -1.319 % | |
| Asset Turnover Ratio IPRWA | high: 0.228 mean: 0.194 median: 0.183 SLGN: 0.167 low: 0.151 |
|
| Receivables Turnover | 1.786 | |
| Receivables Turnover Ratio QoQ | 27.237 % | |
| Receivables Turnover Ratio YoY | -2.137 % | |
| Receivables Turnover Ratio IPRWA | high: 3.075 mean: 2.442 median: 2.343 SLGN: 1.786 low: 1.639 |
|
| Inventory Turnover | 1.173 | |
| Inventory Turnover Ratio QoQ | 1.411 % | |
| Inventory Turnover Ratio YoY | -2.764 % | |
| Inventory Turnover Ratio IPRWA | high: 2.396 mean: 1.529 median: 1.396 SLGN: 1.173 low: 1.139 |
|
| Days Sales Outstanding (DSO) | 51.085 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 56.336 | |
| Cash Conversion Cycle Days QoQ | -13.294 % | |
| Cash Conversion Cycle Days YoY | 1.977 % | |
| Cash Conversion Cycle Days IPRWA | SLGN: 56.336 high: 55.748 mean: -2.677 median: -7.339 low: -29.152 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.564 | |
| CapEx To Revenue | -0.053 | |
| CapEx To Depreciation | -0.971 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 6.0 B | |
| Net Invested Capital | $ 7.0 B | |
| Invested Capital | $ 7.0 B | |
| Net Tangible Assets | $ -1.02 B | |
| Net Working Capital | $ 609.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.185 | |
| Current Ratio | 1.258 | |
| Current Ratio QoQ | 3.117 % | |
| Current Ratio YoY | 10.708 % | |
| Current Ratio IPRWA | high: 1.275 SLGN: 1.258 median: 1.119 mean: 1.113 low: 0.964 |
|
| Quick Ratio | 0.78 | |
| Quick Ratio QoQ | -0.023 % | |
| Quick Ratio YoY | 15.52 % | |
| Quick Ratio IPRWA | high: 0.998 SLGN: 0.78 median: 0.719 mean: 0.716 low: 0.536 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 22.139 | |
| Cost Of Debt | 0.812 % | |
| Interest Coverage Ratio | 3.031 | |
| Interest Coverage Ratio QoQ | 43.102 % | |
| Interest Coverage Ratio YoY | -0.331 % | |
| Interest Coverage Ratio IPRWA | high: 4.308 median: 3.835 mean: 3.816 SLGN: 3.031 low: 2.718 |
|
| Operating Cash Flow Ratio | -0.384 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 77.632 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.759 | |
| Dividend Payout Ratio | 0.362 | |
| Dividend Rate | $ 0.22 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.796 % | |
| Revenue Growth | 6.309 % | |
| Revenue Growth QoQ | -123.463 % | |
| Revenue Growth YoY | 60.453 % | |
| Revenue Growth IPRWA | high: 7.841 % median: 7.649 % SLGN: 6.309 % mean: 4.784 % low: -5.177 % |
|
| Earnings Growth | 16.418 % | |
| Earnings Growth QoQ | -144.624 % | |
| Earnings Growth YoY | -565.231 % | |
| Earnings Growth IPRWA | high: 129.167 % SLGN: 16.418 % mean: 5.634 % median: -10.345 % low: -15.385 % |
|
| MARGINS | ||
| Gross Margin | 17.023 % | |
| Gross Margin QoQ | -1.058 % | |
| Gross Margin YoY | -7.669 % | |
| Gross Margin IPRWA | high: 23.024 % median: 19.761 % mean: 19.424 % low: 17.93 % SLGN: 17.023 % |
|
| EBIT Margin | 8.043 % | |
| EBIT Margin QoQ | 16.802 % | |
| EBIT Margin YoY | -9.639 % | |
| EBIT Margin IPRWA | high: 11.415 % median: 9.326 % mean: 9.019 % SLGN: 8.043 % low: 2.964 % |
|
| Return On Sales (ROS) | 8.688 % | |
| Return On Sales QoQ | -5.318 % | |
| Return On Sales YoY | -2.393 % | |
| Return On Sales IPRWA | high: 11.261 % mean: 9.407 % median: 9.353 % SLGN: 8.688 % low: 5.155 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -882.02 M | |
| Free Cash Flow Yield | -20.011 % | |
| Free Cash Flow Yield QoQ | -172.247 % | |
| Free Cash Flow Yield YoY | 42.295 % | |
| Free Cash Flow Yield IPRWA | high: 1.529 % mean: -3.913 % median: -5.785 % low: -8.268 % SLGN: -20.011 % |
|
| Free Cash Growth | -172.148 % | |
| Free Cash Growth QoQ | -146.681 % | |
| Free Cash Growth YoY | -8.719 % | |
| Free Cash Growth IPRWA | high: -155.294 % SLGN: -172.148 % mean: -186.664 % median: -190.106 % low: -233.429 % |
|
| Free Cash To Net Income | -13.992 | |
| Cash Flow Margin | -57.952 % | |
| Cash Flow To Earnings | -14.353 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 0.674 % | |
| Return On Assets QoQ | 249.223 % | |
| Return On Assets YoY | -13.921 % | |
| Return On Assets IPRWA | high: 1.225 % median: 1.043 % mean: 0.953 % SLGN: 0.674 % low: 0.227 % |
|
| Return On Capital Employed (ROCE) | 1.803 % | |
| Return On Equity (ROE) | 0.027 | |
| Return On Equity QoQ | 239.5 % | |
| Return On Equity YoY | -16.738 % | |
| Return On Equity IPRWA | high: 0.06 mean: 0.038 median: 0.037 SLGN: 0.027 low: 0.004 |
|
| DuPont ROE | 2.744 % | |
| Return On Invested Capital (ROIC) | 1.322 % | |
| Return On Invested Capital QoQ | 9.528 % | |
| Return On Invested Capital YoY | -10.856 % | |
| Return On Invested Capital IPRWA | high: 3.023 % mean: 2.032 % median: 1.904 % SLGN: 1.322 % low: 0.587 % |
|