Recent News
On April 28, 2026 Ameriprise announced a 6% increase to its quarterly cash dividend to $1.70 per share payable May 22, 2026 (record date May 4). On June 9, 2026 the company issued $750 million of senior notes ($300M 4.800% due 2031; $450M 5.350% due 2036). S&P Global assigned an “A-” rating to the new notes in early June and AM Best assigned a Long-Term Issue Credit Rating of “a-” following the issuance. The company also received a technology innovation award and published investor materials tied to Q1 2026 investor outreach.
Technical Analysis
Directional indicators show no strong market trend: ADX at 15.88 indicates trend weakness, so price remains sensitive to short-term flows rather than a powerful directional move.
DI+ has registered a peak-and-reversal, which signals a bearish directional bias; DI- shows a dip-and-reversal that also signals bearish direction—together they suggest sellers hold a slight edge while trend strength stays low.
MACD sits above its signal line (MACD 1.39 vs signal 0.58), a bullish cross, yet the MACD trend shows a peak-and-reversal, indicating momentum recently peaked and now tilts bearish; that combination implies short-term mean reversion risk despite the recent positive crossover.
MRO at -21.12 indicates price sits below WMDST’s target and therefore carries potential to move higher toward that target; the negative MRO aligns with the stated valuation that the stock trades as under-valued and supports upside pressure over time.
RSI near 47.6 with a peak-and-reversal reading signals neutral momentum with recent fading strength; RSI leaves room for either a modest bounce or further consolidation but does not confirm strong trend continuation.
Price sits below the 200-day average ($471.02 vs close $453.29) and below short-term EMAs (12-day EMA $460.75), placing current price under recent averages and favoring consolidation toward the lower Bollinger band (lower 1σ $449.98). Ichimoku components cluster near the current price (Senkou B $453.46) so the cloud’s lower boundary may act as nearby technical support while short-term averages act as resistance.
Volume aligns with multi-horizon averages (10/50/200-day volumes ~650k), indicating moves lack abnormal conviction; low ADX with average volume suggests rangebound trading unless a new catalyst triggers directional conviction.
Fundamental Analysis
Profitability: Operating margin (EBIT margin) stands at 25.44%, which sits below the industry peer mean of 41.225% and below the industry peer median of 45.599%, though margin expanded strongly year-over-year (+44.39% YoY) while falling -8.04% QoQ. Higher YoY margin supports valuation upside; the QoQ decline requires monitoring for cyclical seasonality or one-off items.
Earnings and cash flow: Adjusted operating EPS of $11.26 exceeded the estimate of $10.21 (EPS surprise ~10.28%). Free cash flow of $430 million yields 1.03%, and free-cash growth shows contraction year-over-year; free cash conversion (free cash to net income) equals 46.99%, signaling moderate conversion but a recent decline in free-cash growth that tempers near-term cash-driven optionality.
Capital structure and liquidity: Cash and short-term investments total $45.845 billion while total debt equals $5.814 billion; debt to assets at 3.15% remains well below the industry peer mean of 20.271%, and interest coverage at 15.3x supports debt capacity. Dividend payout ratio of 16.18% with dividend coverage ~6.18x indicates ample coverage for the enlarged dividend.
Returns and growth: Return on equity at 14.73% exceeds the industry peer mean of 4.578% and return on invested capital at 8.14% exceeds the industry peer mean of 3.243%, underpinning efficient capital use. Revenue growth shows a strong YoY gain of 49.13% but a sharp QoQ decline of -62.91%, indicating pronounced quarter-to-quarter volatility that requires context from seasonal or revaluation drivers.
Valuation metrics: P/E at 41.14 and forward P/E ~40.67 coexist with a high PEG (~10.36), reflecting modest near-term growth expectations baked into price. WMDST values the stock as under-valued; the case rests on strong ROE, large cash reserves, low leverage, and steady dividend coverage despite compressed free-cash yields and elevated multiples.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-23 |
| NEXT REPORT DATE: | 2026-07-23 |
| CASH FLOW | Begin Period Cash Flow | $ 11.2 B |
| Operating Cash Flow | $ 459.0 M | |
| Capital Expenditures | $ -29.00 M | |
| Change In Working Capital | $ -480.00 M | |
| Dividends Paid | $ -148.00 M | |
| Cash Flow Delta | $ -1.76 B | |
| End Period Cash Flow | $ 9.4 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 4.8 B | |
| Forward Revenue | $ 1.4 B | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ -9.00 M | |
| Depreciation and Amortization | $ -9.00 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 3.7 B | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | $ 1.2 B | |
| Operating Income | — | |
| Interest Income | $ -74.00 M | |
| Interest Expense | $ 80.0 M | |
| Net Interest Income | $ -80.00 M | |
| Income Before Tax | $ 1.1 B | |
| Tax Provision | $ 229.0 M | |
| Tax Rate | 20.017 % | |
| Net Income | $ 915.0 M | |
| Net Income From Continuing Operations | $ 915.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 10.21 | |
| EPS Actual | $ 11.26 | |
| EPS Difference | $ 1.05 | |
| EPS Surprise | 10.284 % | |
| Forward EPS | $ 11.92 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 184.4 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 6.2 B | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | $ 45.8 B | |
| Cash | $ 8.5 B | |
| Net Receivables | $ 15.1 B | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 200.0 M | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 5.8 B | |
| Total Liabilities | $ 178.2 B | |
| EQUITY | ||
| Total Equity | $ 6.2 B | |
| Retained Earnings | $ 28.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 68.96 | |
| Shares Outstanding | 90.080 M | |
| Revenue Per-Share | $ 53.42 | |
| VALUATION | Market Capitalization | $ 41.7 B |
| Enterprise Value | $ 1.7 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 0.353 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 29.692 | |
| Asset To Liability | 1.035 | |
| Debt To Capital | 0.483 | |
| Debt To Assets | 0.032 | |
| Debt To Assets QoQ | 2.638 % | |
| Debt To Assets YoY | -8.638 % | |
| Debt To Assets IPRWA | high: 0.674 median: 0.211 mean: 0.203 AMP: 0.032 low: 0.0 |
|
| Debt To Equity | 0.936 | |
| Debt To Equity QoQ | 4.562 % | |
| Debt To Equity YoY | -17.786 % | |
| Debt To Equity IPRWA | high: 3.986 mean: 1.78 median: 1.226 AMP: 0.936 low: -1.068 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 6.717 | |
| Price To Book QoQ | -1.673 % | |
| Price To Book YoY | -22.741 % | |
| Price To Book IPRWA | high: 7.056 AMP: 6.717 median: 3.216 mean: 3.066 low: -0.507 |
|
| Price To Earnings (P/E) | 41.141 | |
| Price To Earnings QoQ | -9.116 % | |
| Price To Earnings YoY | -20.885 % | |
| Price To Earnings IPRWA | high: 131.673 mean: 63.017 median: 57.2 AMP: 41.141 low: -78.913 |
|
| PE/G Ratio | 10.363 | |
| Price To Sales (P/S) | 8.672 | |
| Price To Sales QoQ | -3.864 % | |
| Price To Sales YoY | -19.968 % | |
| Price To Sales IPRWA | high: 114.397 mean: 27.556 median: 21.141 AMP: 8.672 low: -50.338 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 40.666 | |
| Forward PE/G | 10.243 | |
| Forward P/S | 29.583 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.615 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.026 | |
| Asset Turnover Ratio QoQ | -1.536 % | |
| Asset Turnover Ratio YoY | 6.126 % | |
| Asset Turnover Ratio IPRWA | high: 0.275 mean: 0.037 AMP: 0.026 median: 0.013 low: -0.084 |
|
| Receivables Turnover | 0.32 | |
| Receivables Turnover Ratio QoQ | -3.468 % | |
| Receivables Turnover Ratio YoY | 7.358 % | |
| Receivables Turnover Ratio IPRWA | high: 9.786 mean: 1.637 AMP: 0.32 median: 0.21 low: 0.039 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 285.052 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | 3.222 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 11.8 B | |
| Net Invested Capital | $ 12.0 B | |
| Invested Capital | $ 12.0 B | |
| Net Tangible Assets | $ 6.2 B | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 1.063 % | |
| Interest Coverage Ratio | 15.3 | |
| Interest Coverage Ratio QoQ | -10.787 % | |
| Interest Coverage Ratio YoY | 59.583 % | |
| Interest Coverage Ratio IPRWA | high: 98.464 AMP: 15.3 mean: 10.59 median: 9.06 low: -19.59 |
|
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 6.182 | |
| Dividend Payout Ratio | 0.162 | |
| Dividend Rate | $ 1.64 | |
| Dividend Yield | 0.004 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -3.382 % | |
| Revenue Growth | 3.527 % | |
| Revenue Growth QoQ | -62.909 % | |
| Revenue Growth YoY | 49.133 % | |
| Revenue Growth IPRWA | high: 130.559 % AMP: 3.527 % median: -1.879 % mean: -3.573 % low: -156.276 % |
|
| Earnings Growth | 3.97 % | |
| Earnings Growth QoQ | -75.306 % | |
| Earnings Growth YoY | 165.374 % | |
| Earnings Growth IPRWA | high: 45.0 % median: 7.075 % AMP: 3.97 % mean: -0.589 % low: -117.241 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | 25.436 % | |
| EBIT Margin QoQ | -8.044 % | |
| EBIT Margin YoY | 44.391 % | |
| EBIT Margin IPRWA | high: 82.682 % median: 45.599 % mean: 41.225 % AMP: 25.436 % low: -62.871 % |
|
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 430.0 M | |
| Free Cash Flow Yield | 1.03 % | |
| Free Cash Flow Yield QoQ | -82.444 % | |
| Free Cash Flow Yield YoY | -70.546 % | |
| Free Cash Flow Yield IPRWA | high: 29.426 % AMP: 1.03 % median: 0.626 % mean: -1.663 % low: -27.411 % |
|
| Free Cash Growth | -83.619 % | |
| Free Cash Growth QoQ | -488.42 % | |
| Free Cash Growth YoY | -120.51 % | |
| Free Cash Growth IPRWA | high: 314.536 % median: 8.623 % mean: 1.176 % AMP: -83.619 % low: -569.703 % |
|
| Free Cash To Net Income | 0.47 | |
| Cash Flow Margin | 14.173 % | |
| Cash Flow To Earnings | 0.745 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.488 % | |
| Return On Assets QoQ | -7.75 % | |
| Return On Assets YoY | 51.084 % | |
| Return On Assets IPRWA | high: 6.815 % mean: 0.821 % AMP: 0.488 % median: 0.371 % low: -7.04 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.147 | |
| Return On Equity QoQ | -4.301 % | |
| Return On Equity YoY | 37.087 % | |
| Return On Equity IPRWA | high: 0.222 AMP: 0.147 median: 0.052 mean: 0.046 low: -0.164 |
|
| DuPont ROE | 14.341 % | |
| Return On Invested Capital (ROIC) | 8.141 % | |
| Return On Invested Capital QoQ | -5.612 % | |
| Return On Invested Capital YoY | 45.038 % | |
| Return On Invested Capital IPRWA | high: 11.978 % AMP: 8.141 % median: 3.357 % mean: 3.243 % low: -6.621 % |
|