Recent News
On April 2, 2026 the Board declared a regular quarterly dividend of $0.16 per share.
Technical Analysis
ADX sits at 19.26, indicating no established trend; directional strength remains low, so any directional moves likely start from a range-bound base.
DI+ shows a dip & reversal, signaling emerging bullish directional pressure, while DI- shows a peak & reversal, which also signals easing bearish pressure; together these shifts point to nascent upside momentum despite the weak ADX reading.
MACD registered a dip & reversal, which denotes returning bullish momentum; the MACD value remains marginally below the signal line (MACD -0.58 vs signal -0.56), so momentum still needs confirmation before a durable trend develops.
MRO sits at -21.77 and shows a dip & reversal; the negative MRO implies price below WMDST’s target and therefore potential room to move higher toward that target as momentum readjusts.
RSI at 52.02 with a dip & reversal indicates the market moved off short-term weakness and now trades in a neutral-to-favorable band, leaving room to run without overbought pressure.
Price trades above the 200-day average ($86.16) and near the upper Bollinger band (1x upper at $104.81), with the 12-day EMA showing a dip & reversal; short-term averages cluster below the current price, supporting a near-term positive bias while volatility compresses.
Fundamental Analysis
Revenue totaled $63,724,000 with YoY revenue growth of +91.89%, showing substantial year-over-year top-line expansion even as shorter-period dynamics show contraction; QoQ revenue movement indicates a recent pullback that contrasts with the strong annual comparables.
EPS came in at $1.83 versus an estimate of $1.39, an EPS surprise of +31.66%, reflecting earnings strength in the reported period despite a negative net income of -$4,136,000 for the period reported.
Gross margin measures 66.23%, slightly above the industry peer mean of 63.52%, supporting higher incremental profitability on sales; by contrast operating margin at 4.31% sits materially below the industry peer mean of 20.47%, reflecting elevated operating costs relative to peers and compressing operating earnings.
EBIT equals $1,003,000 and EBIT margin equals 1.57%, well below the industry peer mean of 20.35%; the EBIT margin fell sharply QoQ (down ~86.57%) and declined YoY (down ~67.18%), underscoring volatile near-term operating performance despite positive EBITDA of $6,753,000.
Balance sheet and cash flow: cash and short-term investments total $26,928,000 and operating cash flow equals $13,962,000; free cash flow reached $13,545,000, producing a free cash flow yield of 2.55%, above the industry peer mean of 0.52% as determined by the comparison dataset, which supports valuation resilience.
Leverage and coverage show stress points: total debt $155,169,000 with net debt $124,554,000 and debt/EBITDA at 22.98x; interest coverage stands at 0.39x, indicating limited near-term buffer to service interest costs and elevating sensitivity to earnings swings.
Liquidity ratios place the company below peer averages: current ratio 1.72 (industry peer mean 2.73) and quick ratio 1.29 (industry peer mean 2.02), though working capital remains positive at $44,370,000 and cash conversion cycle days near the industry peer mean range.
Returns remain pressured: ROE -2.22% and ROA -0.96%, with earnings growth metrics showing sharp QoQ and YoY contractions in recent periods; these metrics constrain multiple expansion despite strong gross margins and cash generation.
Valuation context: price multiples show a trailing P/E of 52.48 and forward P/E of 27.46, while P/B equals 2.85 versus an industry peer mean of 5.62, placing book-value metrics below peer averages. Enterprise value stands at $658,859,738 versus market cap $530,618,738, and WMDST values the stock as under-valued based on the current combination of cash generation, margins, and balance-sheet position.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-27 |
| NEXT REPORT DATE: | 2026-08-26 |
| CASH FLOW | Begin Period Cash Flow | $ 29.0 M |
| Operating Cash Flow | $ 14.0 M | |
| Capital Expenditures | $ -417.00 K | |
| Change In Working Capital | $ 3.9 M | |
| Dividends Paid | $ -884.00 K | |
| Cash Flow Delta | $ -2.05 M | |
| End Period Cash Flow | $ 26.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 63.7 M | |
| Forward Revenue | $ -65.28 M | |
| COSTS | ||
| Cost Of Revenue | $ 21.5 M | |
| Depreciation | $ 1.3 M | |
| Depreciation and Amortization | $ 5.8 M | |
| Research and Development | $ 5.2 M | |
| Total Operating Expenses | $ 61.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 42.2 M | |
| EBITDA | $ 6.8 M | |
| EBIT | $ 1.0 M | |
| Operating Income | $ 2.7 M | |
| Interest Income | — | |
| Interest Expense | $ 2.6 M | |
| Net Interest Income | $ -2.60 M | |
| Income Before Tax | $ -1.59 M | |
| Tax Provision | $ 2.5 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -4.14 M | |
| Net Income From Continuing Operations | $ -4.14 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.39 | |
| EPS Actual | $ 1.83 | |
| EPS Difference | $ 0.44 | |
| EPS Surprise | 31.655 % | |
| Forward EPS | $ 3.07 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 427.7 M | |
| Intangible Assets | $ 270.2 M | |
| Net Tangible Assets | $ -83.97 M | |
| Total Current Assets | $ 106.3 M | |
| Cash and Short-Term Investments | $ 26.9 M | |
| Cash | $ 26.9 M | |
| Net Receivables | $ 44.1 M | |
| Inventory | $ 26.4 M | |
| Long-Term Investments | $ 19.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 4.9 M | |
| Short-Term Debt | $ 5.6 M | |
| Total Current Liabilities | $ 61.9 M | |
| Net Debt | $ 124.6 M | |
| Total Debt | $ 155.2 M | |
| Total Liabilities | $ 241.5 M | |
| EQUITY | ||
| Total Equity | $ 186.2 M | |
| Retained Earnings | $ -185.75 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 33.71 | |
| Shares Outstanding | 5.525 M | |
| Revenue Per-Share | $ 11.53 | |
| VALUATION | Market Capitalization | $ 530.6 M |
| Enterprise Value | $ 658.9 M | |
| Enterprise Multiple | 97.565 | |
| Enterprise Multiple QoQ | 119.037 % | |
| Enterprise Multiple YoY | 25.754 % | |
| Enterprise Multiple IPRWA | high: 167.868 MLAB: 97.565 mean: 82.373 median: 80.811 low: -193.913 |
|
| EV/R | 10.339 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.297 | |
| Asset To Liability | 1.771 | |
| Debt To Capital | 0.454 | |
| Debt To Assets | 0.363 | |
| Debt To Assets QoQ | -12.838 % | |
| Debt To Assets YoY | -13.375 % | |
| Debt To Assets IPRWA | high: 0.725 MLAB: 0.363 mean: 0.269 median: 0.249 low: 0.002 |
|
| Debt To Equity | 0.833 | |
| Debt To Equity QoQ | -14.056 % | |
| Debt To Equity YoY | -26.622 % | |
| Debt To Equity IPRWA | high: 4.524 MLAB: 0.833 mean: 0.544 median: 0.426 low: -0.465 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.849 | |
| Price To Book QoQ | 20.198 % | |
| Price To Book YoY | -30.87 % | |
| Price To Book IPRWA | high: 20.943 mean: 5.623 median: 4.172 MLAB: 2.849 low: -12.173 |
|
| Price To Earnings (P/E) | 52.481 | |
| Price To Earnings QoQ | 15.322 % | |
| Price To Earnings YoY | -156.852 % | |
| Price To Earnings IPRWA | high: 194.313 mean: 120.348 median: 98.047 MLAB: 52.481 low: -198.766 |
|
| PE/G Ratio | 13.196 | |
| Price To Sales (P/S) | 8.327 | |
| Price To Sales QoQ | 22.549 % | |
| Price To Sales YoY | -21.454 % | |
| Price To Sales IPRWA | high: 62.134 mean: 29.52 median: 21.968 MLAB: 8.327 low: 0.285 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 27.46 | |
| Forward PE/G | 6.905 | |
| Forward P/S | -8.128 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 40.347 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.148 | |
| Asset Turnover Ratio QoQ | -1.86 % | |
| Asset Turnover Ratio YoY | 3.495 % | |
| Asset Turnover Ratio IPRWA | high: 0.411 MLAB: 0.148 median: 0.128 mean: 0.122 low: 0.002 |
|
| Receivables Turnover | 1.511 | |
| Receivables Turnover Ratio QoQ | -6.801 % | |
| Receivables Turnover Ratio YoY | -1.96 % | |
| Receivables Turnover Ratio IPRWA | high: 3.141 mean: 1.938 median: 1.582 MLAB: 1.511 low: 0.361 |
|
| Inventory Turnover | 0.813 | |
| Inventory Turnover Ratio QoQ | -5.387 % | |
| Inventory Turnover Ratio YoY | -8.34 % | |
| Inventory Turnover Ratio IPRWA | high: 2.164 MLAB: 0.813 mean: 0.607 median: 0.509 low: 0.137 |
|
| Days Sales Outstanding (DSO) | 60.38 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 143.982 | |
| Cash Conversion Cycle Days QoQ | 1.429 % | |
| Cash Conversion Cycle Days YoY | -1.022 % | |
| Cash Conversion Cycle Days IPRWA | high: 587.726 median: 180.7 mean: 160.416 MLAB: 143.982 low: -133.614 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.436 | |
| CapEx To Revenue | -0.007 | |
| CapEx To Depreciation | -0.33 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 332.1 M | |
| Net Invested Capital | $ 337.7 M | |
| Invested Capital | $ 337.7 M | |
| Net Tangible Assets | $ -83.97 M | |
| Net Working Capital | $ 44.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.435 | |
| Current Ratio | 1.717 | |
| Current Ratio QoQ | -11.593 % | |
| Current Ratio YoY | 174.134 % | |
| Current Ratio IPRWA | high: 14.36 mean: 2.73 median: 2.112 MLAB: 1.717 low: 0.038 |
|
| Quick Ratio | 1.291 | |
| Quick Ratio QoQ | -11.208 % | |
| Quick Ratio YoY | 173.713 % | |
| Quick Ratio IPRWA | high: 12.588 mean: 2.016 median: 1.518 MLAB: 1.291 low: 0.37 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 22.978 | |
| Cost Of Debt | 0.927 % | |
| Interest Coverage Ratio | 0.386 | |
| Interest Coverage Ratio QoQ | -84.631 % | |
| Interest Coverage Ratio YoY | -67.341 % | |
| Interest Coverage Ratio IPRWA | high: 87.935 mean: 17.93 median: 13.911 MLAB: 0.386 low: -102.892 |
|
| Operating Cash Flow Ratio | -0.039 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 19.909 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -4.679 | |
| Dividend Payout Ratio | -0.214 | |
| Dividend Rate | $ 0.16 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.633 % | |
| Revenue Growth | -2.153 % | |
| Revenue Growth QoQ | -129.795 % | |
| Revenue Growth YoY | 91.889 % | |
| Revenue Growth IPRWA | high: 16.503 % MLAB: -2.153 % median: -5.375 % mean: -7.834 % low: -65.483 % |
|
| Earnings Growth | 3.977 % | |
| Earnings Growth QoQ | -98.634 % | |
| Earnings Growth YoY | -99.015 % | |
| Earnings Growth IPRWA | high: 200.0 % MLAB: 3.977 % median: -7.623 % mean: -14.297 % low: -145.833 % |
|
| MARGINS | ||
| Gross Margin | 66.231 % | |
| Gross Margin QoQ | 3.202 % | |
| Gross Margin YoY | 7.135 % | |
| Gross Margin IPRWA | high: 95.029 % MLAB: 66.231 % mean: 63.517 % median: 63.289 % low: 4.929 % |
|
| EBIT Margin | 1.574 % | |
| EBIT Margin QoQ | -86.569 % | |
| EBIT Margin YoY | -67.181 % | |
| EBIT Margin IPRWA | high: 63.148 % median: 21.811 % mean: 20.348 % MLAB: 1.574 % low: -233.035 % |
|
| Return On Sales (ROS) | 4.312 % | |
| Return On Sales QoQ | -64.786 % | |
| Return On Sales YoY | -10.092 % | |
| Return On Sales IPRWA | high: 63.148 % median: 20.603 % mean: 20.468 % MLAB: 4.312 % low: -219.267 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 13.5 M | |
| Free Cash Flow Yield | 2.553 % | |
| Free Cash Flow Yield QoQ | -37.319 % | |
| Free Cash Flow Yield YoY | 44.237 % | |
| Free Cash Flow Yield IPRWA | high: 7.748 % MLAB: 2.553 % mean: 0.515 % median: 0.47 % low: -15.26 % |
|
| Free Cash Growth | -24.842 % | |
| Free Cash Growth QoQ | -116.262 % | |
| Free Cash Growth YoY | -26.631 % | |
| Free Cash Growth IPRWA | high: 324.237 % MLAB: -24.842 % mean: -32.299 % median: -37.858 % low: -397.308 % |
|
| Free Cash To Net Income | -3.275 | |
| Cash Flow Margin | -3.752 % | |
| Cash Flow To Earnings | 0.578 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -0.959 % | |
| Return On Assets QoQ | -214.303 % | |
| Return On Assets YoY | -41.31 % | |
| Return On Assets IPRWA | high: 5.251 % mean: 2.047 % median: 1.583 % MLAB: -0.959 % low: -34.616 % |
|
| Return On Capital Employed (ROCE) | 0.274 % | |
| Return On Equity (ROE) | -0.022 | |
| Return On Equity QoQ | -214.249 % | |
| Return On Equity YoY | -50.101 % | |
| Return On Equity IPRWA | high: 0.413 median: 0.032 mean: 0.03 MLAB: -0.022 low: -0.942 |
|
| DuPont ROE | -2.218 % | |
| Return On Invested Capital (ROIC) | 0.178 % | |
| Return On Invested Capital QoQ | -89.578 % | |
| Return On Invested Capital YoY | -74.462 % | |
| Return On Invested Capital IPRWA | high: 8.753 % mean: 2.447 % median: 2.32 % MLAB: 0.178 % low: -14.938 % |
|