Recent News
On May 13, 2026 the company priced an upsized underwritten offering of 1,500,000 shares of Class B common stock. On May 21, 2026 the Board declared regular quarterly cash dividends and announced a strategic acquisition as part of its growth initiatives. The company filed an 8-K in mid-May documenting a recast of historical segment reporting and stated an intention to acquire the remaining 20% stake in Enercon. Additional 8-K filings in late May disclosed organizational and governance updates tied to the 2026 annual meeting outcomes.
Technical Analysis
Directional indicators show a mixed picture: ADX at 20.92 signals an emerging trend in strength, while DI+ at 19.61 is decreasing (bearish) and DI- at 12.75 has peak-and-reversed (bullish). Together these readings imply momentum exists but buyers and sellers remain contested, producing a fragile directional bias that ties to fair-valued status.
MACD sits at 9.71 and has undergone a dip-and-reversal; the MACD currently exceeds its signal line (MACD signal 8.02), which constitutes a bullish momentum signal. That bullish momentum supports near-term upside but requires confirmation from volume and price retention above short-term averages to sustain.
MRO reads 27.76 with a dip-and-reversal. Because MRO is positive, price sits above WMDST’s target and carries downside potential even as momentum attempts to reset higher; the reading warns that upside momentum might attract profit-taking absent fundamental reinforcement.
RSI at 58.58 with a dip-and-reversal shows renewed buyer activity without overbought extremes, consistent with a controlled rally rather than a parabolic move; this aligns with the stock trading notably above its 20-day average and the 12-day EMA increasing.
Price structure supports the momentum case: the close at $315.65 exceeds the 20-day average ($297.05), 50-day average ($278.84), and 200-day average ($205.86); the 12-day EMA trends higher. Bollinger bands sit roughly between $284–$322 (1–2σ), and the current close places the stock near the upper band, indicating strength but limited near-term upside room before higher volatility returns. Volume at ~427,703 traded exceeds the 10- and 50-day averages, lending conviction to recent moves. Beta measures (42-day 1.37, 52-week 1.82) indicate above-market sensitivity, amplifying short-term swings relative to the broader market.
Fundamental Analysis
Operational profitability shows improvement: EBIT $20,322,000 and EBIT margin 11.39% improved QoQ by 59.75% while falling YoY by 37.96%. The EBIT margin sits below the industry peer mean of 15.88% and below the industry peer median of 16.04%, indicating margin recovery that still lags the peer central tendency.
Top-line and earnings dynamics: total revenue reached $178,491,000 with YoY revenue change of -8.57% and quarter-to-quarter softness. Reported EPS $1.81 exceeded the estimate of $1.65 by $0.16, a beat of 9.70%, which supports the recent positive sentiment captured in momentum indicators.
Cash generation and liquidity present mixed signals. Cash and short-term investments total $59,446,000 alongside operating cash flow $13,828,000 and free cash flow $11,185,000; free cash flow yield stands at 0.398%, above the industry peer mean of 0.233%. The current ratio at 3.18 and quick ratio at 1.73 indicate comfortable near-term liquidity.
Leverage and coverage: total debt $226,148,000 produces debt-to-assets of 23.76% and debt-to-EBITDA of 8.39x, while interest coverage registers 8.03x. The debt-to-EBITDA multiple signals comparatively higher leverage versus typical lower-leverage peers and creates sensitivity to cash-flow volatility even as coverage remains adequate today.
Valuation metrics sit at elevated multiples: trailing PE 122.03, forward PE ~92.25, price-to-book 6.40 (below the industry peer mean of 7.43), and price-to-sales 15.74 (below the industry peer mean of 20.55). WMDST values the stock as fair-valued; the combination of elevated earnings multiples and below-mean price-to-book suggests growth expectations priced into earnings, while balance-sheet liquidity and margin recovery temper downside risk.
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 | $ 57.8 M |
| Operating Cash Flow | $ 13.8 M | |
| Capital Expenditures | $ -2.64 M | |
| Change In Working Capital | $ -11.79 M | |
| Dividends Paid | $ -840.00 K | |
| Cash Flow Delta | $ 1.6 M | |
| End Period Cash Flow | $ 59.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 178.5 M | |
| Forward Revenue | $ 126.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 108.9 M | |
| Depreciation | $ 6.6 M | |
| Depreciation and Amortization | $ 6.6 M | |
| Research and Development | $ 8.5 M | |
| Total Operating Expenses | $ 154.1 M | |
| PROFITABILITY | ||
| Gross Profit | $ 69.6 M | |
| EBITDA | $ 26.9 M | |
| EBIT | $ 20.3 M | |
| Operating Income | $ 24.4 M | |
| Interest Income | $ 150.0 K | |
| Interest Expense | $ 2.5 M | |
| Net Interest Income | $ -2.38 M | |
| Income Before Tax | $ 17.8 M | |
| Tax Provision | $ 2.8 M | |
| Tax Rate | 15.782 % | |
| Net Income | $ 11.4 M | |
| Net Income From Continuing Operations | $ 15.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.65 | |
| EPS Actual | $ 1.81 | |
| EPS Difference | $ 0.16 | |
| EPS Surprise | 9.697 % | |
| Forward EPS | $ 2.53 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 951.9 M | |
| Intangible Assets | $ 439.0 M | |
| Net Tangible Assets | $ -11.00 K | |
| Total Current Assets | $ 397.2 M | |
| Cash and Short-Term Investments | $ 59.4 M | |
| Cash | $ 59.4 M | |
| Net Receivables | $ 120.0 M | |
| Inventory | $ 181.2 M | |
| Long-Term Investments | $ 32.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 64.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 124.7 M | |
| Net Debt | $ 145.1 M | |
| Total Debt | $ 226.1 M | |
| Total Liabilities | $ 416.2 M | |
| EQUITY | ||
| Total Equity | $ 438.9 M | |
| Retained Earnings | $ 413.6 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 34.50 | |
| Shares Outstanding | 12.723 M | |
| Revenue Per-Share | $ 14.03 | |
| VALUATION | Market Capitalization | $ 2.8 B |
| Enterprise Value | $ 3.0 B | |
| Enterprise Multiple | 110.478 | |
| Enterprise Multiple QoQ | -17.063 % | |
| Enterprise Multiple YoY | 221.634 % | |
| Enterprise Multiple IPRWA | high: 364.265 BELFB: 110.478 mean: 89.973 median: 79.445 low: -215.509 |
|
| EV/R | 16.678 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.169 | |
| Asset To Liability | 2.287 | |
| Debt To Capital | 0.34 | |
| Debt To Assets | 0.238 | |
| Debt To Assets QoQ | 0.351 % | |
| Debt To Assets YoY | -28.133 % | |
| Debt To Assets IPRWA | high: 0.98 mean: 0.265 median: 0.241 BELFB: 0.238 low: 0.001 |
|
| Debt To Equity | 0.515 | |
| Debt To Equity QoQ | -0.978 % | |
| Debt To Equity YoY | -37.538 % | |
| Debt To Equity IPRWA | high: 2.293 mean: 0.675 BELFB: 0.515 median: 0.447 low: -0.773 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 6.402 | |
| Price To Book QoQ | 13.828 % | |
| Price To Book YoY | 155.297 % | |
| Price To Book IPRWA | high: 12.284 mean: 7.433 BELFB: 6.402 median: 5.882 low: -2.416 |
|
| Price To Earnings (P/E) | 122.035 | |
| Price To Earnings QoQ | 27.802 % | |
| Price To Earnings YoY | 120.795 % | |
| Price To Earnings IPRWA | high: 398.734 median: 131.744 mean: 122.207 BELFB: 122.035 low: -220.021 |
|
| PE/G Ratio | -14.213 | |
| Price To Sales (P/S) | 15.744 | |
| Price To Sales QoQ | 15.741 % | |
| Price To Sales YoY | 153.59 % | |
| Price To Sales IPRWA | high: 99.122 median: 22.531 mean: 20.545 BELFB: 15.744 low: 0.0 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 92.246 | |
| Forward PE/G | -10.744 | |
| Forward P/S | 22.385 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 42.775 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.189 | |
| Asset Turnover Ratio QoQ | 1.502 % | |
| Asset Turnover Ratio YoY | 17.439 % | |
| Asset Turnover Ratio IPRWA | high: 0.534 mean: 0.193 BELFB: 0.189 median: 0.185 low: 0.001 |
|
| Receivables Turnover | 1.478 | |
| Receivables Turnover Ratio QoQ | 3.959 % | |
| Receivables Turnover Ratio YoY | 4.378 % | |
| Receivables Turnover Ratio IPRWA | high: 2.612 BELFB: 1.478 median: 1.439 mean: 1.438 low: 0.528 |
|
| Inventory Turnover | 0.625 | |
| Inventory Turnover Ratio QoQ | -2.246 % | |
| Inventory Turnover Ratio YoY | 9.099 % | |
| Inventory Turnover Ratio IPRWA | high: 2.973 median: 1.202 mean: 1.076 BELFB: 0.625 low: 0.128 |
|
| Days Sales Outstanding (DSO) | 61.738 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 160.876 | |
| Cash Conversion Cycle Days QoQ | 0.629 % | |
| Cash Conversion Cycle Days YoY | -9.071 % | |
| Cash Conversion Cycle Days IPRWA | high: 308.893 BELFB: 160.876 mean: 100.437 median: 82.542 low: -44.852 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.655 | |
| CapEx To Revenue | -0.015 | |
| CapEx To Depreciation | -0.399 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 643.4 M | |
| Net Invested Capital | $ 643.4 M | |
| Invested Capital | $ 643.4 M | |
| Net Tangible Assets | $ -11.00 K | |
| Net Working Capital | $ 272.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.477 | |
| Current Ratio | 3.184 | |
| Current Ratio QoQ | 5.452 % | |
| Current Ratio YoY | -3.88 % | |
| Current Ratio IPRWA | high: 14.867 BELFB: 3.184 mean: 2.618 median: 1.714 low: 0.547 |
|
| Quick Ratio | 1.731 | |
| Quick Ratio QoQ | 1.423 % | |
| Quick Ratio YoY | -5.442 % | |
| Quick Ratio IPRWA | high: 13.913 mean: 2.06 BELFB: 1.731 median: 1.259 low: 0.449 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.393 | |
| Cost Of Debt | 0.851 % | |
| Interest Coverage Ratio | 8.032 | |
| Interest Coverage Ratio QoQ | 90.641 % | |
| Interest Coverage Ratio YoY | 19.378 % | |
| Interest Coverage Ratio IPRWA | high: 69.571 mean: 10.741 median: 8.916 BELFB: 8.032 low: -197.838 |
|
| Operating Cash Flow Ratio | 0.132 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 50.075 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 13.546 | |
| Dividend Payout Ratio | 0.074 | |
| Dividend Rate | $ 0.07 | |
| Dividend Yield | 0.0 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.788 % | |
| Revenue Growth | 1.451 % | |
| Revenue Growth QoQ | -185.353 % | |
| Revenue Growth YoY | -8.57 % | |
| Revenue Growth IPRWA | high: 20.926 % median: 8.777 % mean: 8.433 % BELFB: 1.451 % low: -56.837 % |
|
| Earnings Growth | -8.586 % | |
| Earnings Growth QoQ | -162.249 % | |
| Earnings Growth YoY | -27.021 % | |
| Earnings Growth IPRWA | high: 207.143 % median: 9.278 % mean: 4.31 % BELFB: -8.586 % low: -186.111 % |
|
| MARGINS | ||
| Gross Margin | 38.992 % | |
| Gross Margin QoQ | -1.116 % | |
| Gross Margin YoY | 0.921 % | |
| Gross Margin IPRWA | high: 99.349 % BELFB: 38.992 % mean: 38.531 % median: 36.748 % low: -36.179 % |
|
| EBIT Margin | 11.385 % | |
| EBIT Margin QoQ | 59.745 % | |
| EBIT Margin YoY | -37.96 % | |
| EBIT Margin IPRWA | high: 212.511 % median: 16.044 % mean: 15.884 % BELFB: 11.385 % low: -337.296 % |
|
| Return On Sales (ROS) | 13.648 % | |
| Return On Sales QoQ | -16.572 % | |
| Return On Sales YoY | -25.628 % | |
| Return On Sales IPRWA | high: 40.821 % mean: 16.315 % median: 15.629 % BELFB: 13.648 % low: -176.472 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 11.2 M | |
| Free Cash Flow Yield | 0.398 % | |
| Free Cash Flow Yield QoQ | -63.553 % | |
| Free Cash Flow Yield YoY | -29.806 % | |
| Free Cash Flow Yield IPRWA | high: 5.592 % median: 0.483 % BELFB: 0.398 % mean: 0.233 % low: -18.584 % |
|
| Free Cash Growth | -57.218 % | |
| Free Cash Growth QoQ | -299.637 % | |
| Free Cash Growth YoY | -138.122 % | |
| Free Cash Growth IPRWA | high: 300.72 % mean: 3.461 % median: -42.409 % BELFB: -57.218 % low: -399.154 % |
|
| Free Cash To Net Income | 0.983 | |
| Cash Flow Margin | 9.226 % | |
| Cash Flow To Earnings | 1.447 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 1.206 % | |
| Return On Assets QoQ | -309.012 % | |
| Return On Assets YoY | -36.224 % | |
| Return On Assets IPRWA | high: 12.143 % median: 2.381 % mean: 2.194 % BELFB: 1.206 % low: -20.105 % |
|
| Return On Capital Employed (ROCE) | 2.457 % | |
| Return On Equity (ROE) | 0.026 | |
| Return On Equity QoQ | -302.342 % | |
| Return On Equity YoY | -45.34 % | |
| Return On Equity IPRWA | high: 0.162 median: 0.065 mean: 0.051 BELFB: 0.026 low: -0.303 |
|
| DuPont ROE | 2.633 % | |
| Return On Invested Capital (ROIC) | 2.66 % | |
| Return On Invested Capital QoQ | 96.165 % | |
| Return On Invested Capital YoY | -18.179 % | |
| Return On Invested Capital IPRWA | high: 7.857 % median: 3.398 % mean: 2.863 % BELFB: 2.66 % low: -10.75 % |
|