Recent News
On June 3, 2026 the Board declared a two‑cent increase in the quarterly cash dividend to $0.225 per common share and authorized repurchases of up to 500,000 common shares; dividends payable August 21, 2026 (record date August 7, 2026). On June 24, 2026 the company announced planned price increases across much of its product portfolio to offset higher external costs. On May 6, 2026 the Cat’s Pride brand set a goal to donate one million pounds of cat litter to animal shelters nationwide.
Technical Analysis
ADX at 43.42 indicates very strong trend strength; such strength raises the probability that the current directional forces will persist in the near term.
DI+ stands at 26.28 and is decreasing; DI- sits at 16.13 and is increasing. Those directional-index moves constitute a bearish directional shift, implying the current price bias favors downside continuation relative to recent short-term momentum.
MACD reads 2.05 while the signal line sits at 3.65 and MACD is decreasing; MACD below its signal line and declining denotes bearish momentum despite a positive absolute MACD value.
MRO equals 31.8 (positive), indicating the price sits above the model target and therefore carries potential downward pressure as mean-reversion risk increases.
RSI at 63.14 and trending downward signals waning upside momentum from recently elevated levels rather than fresh buying conviction.
Price relations: the last close at $94.79 trades well above the 200‑day average ($67.79), reflecting longer-term strength, while the 12‑day EMA shows a peak & reversal pattern and the 20‑day average sits near $100.41. These align with a setup where long-term structural strength coexists with short-term exhaustion and potential pullback toward nearer-term averages. Volume for the session totaled 104,502, below the 10‑day average of 118,109, suggesting reduced participation during the most recent move.
Fundamental Analysis
Revenue and profitability: Consolidated net sales total $126,329,000 for the referenced period; reported third‑quarter net sales rose versus the prior year period. Gross profit equals $33,728,000 and gross margin stands at 26.70%, while operating income measures $17,093,000 and EBIT equals $18,448,000 (EBIT margin 14.60%). The company reported net income of $14,526,000 for the period. The quarter’s revenue and income figures reflect demand gains in cat litter and select B2B lines, while gross margin narrowed versus the prior-year quarter.
Margin and trend deltas: EBIT margin improved QoQ by about 5.04% and improved YoY by roughly 1.23% (14.60% current). Gross margin contracted YoY by about 9.38%, indicating cost pressures per ton weighed on profitability even as SG&A fell. Operating margin rose slightly QoQ by 1.52% but shows a YoY decline of about 6.20%.
Cash, liquidity and leverage: Cash and short‑term investments total $62,941,000 and operating cash flow equals $24,773,000, producing free cash flow of $18,672,000 and a free cash flow yield of ~2.15%. Current ratio equals 3.28 and quick ratio 2.40, both indicating substantial near‑term liquidity. Total debt stands at $54,329,000 with debt‑to‑assets at 13.29% and debt‑to‑equity at 0.19, each below the industry peer mean and median, reflecting conservative leverage.
Efficiency and returns: Asset turnover registers 0.317, modest but above the industry peer mean of 0.242; return on equity equals 5.09% and return on assets equals 3.65%, both positive and showing QoQ improvement but lower year‑over‑year. Inventory turnover improved YoY and cash conversion cycle runs near 96.6 days, longer than the peer median but improved slightly QoQ.
Valuation context: Price multiples display a mixed picture. Price‑to‑book sits at 3.04, above the industry peer mean of 1.65 and median of 1.75; enterprise multiple at 35.57 slightly exceeds the peer median and high values shown for comparable firms. WMDST values the stock as fair‑valued given strong margin levels and cash generation balanced against elevated multiples and compressed quarterly gross margin.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-04-30 |
| REPORT DATE: | 2026-03-05 |
| NEXT REPORT DATE: | 2026-06-04 |
| CASH FLOW | Begin Period Cash Flow | $ 46.9 M |
| Operating Cash Flow | $ 24.8 M | |
| Capital Expenditures | $ -6.10 M | |
| Change In Working Capital | $ 3.2 M | |
| Dividends Paid | $ -2.75 M | |
| Cash Flow Delta | $ 16.0 M | |
| End Period Cash Flow | $ 62.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 126.3 M | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | $ 92.6 M | |
| Depreciation | $ 5.7 M | |
| Depreciation and Amortization | $ 5.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 109.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 33.7 M | |
| EBITDA | $ 24.2 M | |
| EBIT | $ 18.4 M | |
| Operating Income | $ 17.1 M | |
| Interest Income | $ 386.0 K | |
| Interest Expense | $ 537.0 K | |
| Net Interest Income | $ -151.00 K | |
| Income Before Tax | $ 17.9 M | |
| Tax Provision | $ 3.4 M | |
| Tax Rate | 19.0 % | |
| Net Income | $ 14.5 M | |
| Net Income From Continuing Operations | $ 14.5 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | — | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 408.8 M | |
| Intangible Assets | $ 40.7 M | |
| Net Tangible Assets | $ 244.6 M | |
| Total Current Assets | $ 196.3 M | |
| Cash and Short-Term Investments | $ 62.9 M | |
| Cash | $ 62.9 M | |
| Net Receivables | $ 75.8 M | |
| Inventory | $ 52.4 M | |
| Long-Term Investments | $ 6.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 13.8 M | |
| Short-Term Debt | $ 1.0 M | |
| Total Current Liabilities | $ 59.9 M | |
| Net Debt | — | |
| Total Debt | $ 54.3 M | |
| Total Liabilities | $ 123.6 M | |
| EQUITY | ||
| Total Equity | $ 285.2 M | |
| Retained Earnings | $ 312.1 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 19.69 | |
| Shares Outstanding | 14.488 M | |
| Revenue Per-Share | $ 8.72 | |
| VALUATION | Market Capitalization | $ 867.9 M |
| Enterprise Value | $ 859.3 M | |
| Enterprise Multiple | 35.574 | |
| Enterprise Multiple QoQ | -6.573 % | |
| Enterprise Multiple YoY | 22.135 % | |
| Enterprise Multiple IPRWA | ODC: 35.574 high: 33.973 median: 32.003 mean: -13.48 low: -159.016 |
|
| EV/R | 6.802 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.433 | |
| Asset To Liability | 3.308 | |
| Debt To Capital | 0.16 | |
| Debt To Assets | 0.133 | |
| Debt To Assets QoQ | -6.868 % | |
| Debt To Assets YoY | -19.518 % | |
| Debt To Assets IPRWA | high: 0.45 median: 0.347 mean: 0.326 ODC: 0.133 low: 0.001 |
|
| Debt To Equity | 0.19 | |
| Debt To Equity QoQ | -6.297 % | |
| Debt To Equity YoY | -23.088 % | |
| Debt To Equity IPRWA | high: 0.995 median: 0.75 mean: 0.683 ODC: 0.19 low: -0.251 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.043 | |
| Price To Book QoQ | -0.214 % | |
| Price To Book YoY | 16.938 % | |
| Price To Book IPRWA | ODC: 3.043 high: 1.749 median: 1.749 mean: 1.653 low: -4.388 |
|
| 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) | 6.87 | |
| Price To Sales QoQ | -2.64 % | |
| Price To Sales YoY | 30.874 % | |
| Price To Sales IPRWA | high: 294.607 ODC: 6.87 mean: 4.552 median: 3.192 low: 2.868 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | — | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.74 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.317 | |
| Asset Turnover Ratio QoQ | 3.517 % | |
| Asset Turnover Ratio YoY | -4.558 % | |
| Asset Turnover Ratio IPRWA | high: 0.423 ODC: 0.317 median: 0.257 mean: 0.242 low: 0.023 |
|
| Receivables Turnover | 1.731 | |
| Receivables Turnover Ratio QoQ | 0.458 % | |
| Receivables Turnover Ratio YoY | 1.151 % | |
| Receivables Turnover Ratio IPRWA | high: 2.439 median: 1.86 mean: 1.822 ODC: 1.731 low: 0.471 |
|
| Inventory Turnover | 1.744 | |
| Inventory Turnover Ratio QoQ | 12.701 % | |
| Inventory Turnover Ratio YoY | 17.666 % | |
| Inventory Turnover Ratio IPRWA | high: 1.751 median: 1.751 ODC: 1.744 mean: 1.571 low: 1.09 |
|
| Days Sales Outstanding (DSO) | 52.712 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 96.56 | |
| Cash Conversion Cycle Days QoQ | -2.707 % | |
| Cash Conversion Cycle Days YoY | -0.441 % | |
| Cash Conversion Cycle Days IPRWA | high: 193.715 ODC: 96.56 median: 85.721 mean: 38.587 low: -2103.364 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.926 | |
| CapEx To Revenue | -0.048 | |
| CapEx To Depreciation | -1.069 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 324.1 M | |
| Net Invested Capital | $ 325.1 M | |
| Invested Capital | $ 325.1 M | |
| Net Tangible Assets | $ 244.6 M | |
| Net Working Capital | $ 136.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.05 | |
| Current Ratio | 3.277 | |
| Current Ratio QoQ | -5.055 % | |
| Current Ratio YoY | 14.763 % | |
| Current Ratio IPRWA | high: 112.823 mean: 28.474 ODC: 3.277 median: 2.326 low: 0.681 |
|
| Quick Ratio | 2.402 | |
| Quick Ratio QoQ | 0.0 % | |
| Quick Ratio YoY | 33.665 % | |
| Quick Ratio IPRWA | ODC: 2.402 high: 1.538 median: 1.538 mean: 1.416 low: 1.12 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 2.249 | |
| Cost Of Debt | 0.794 % | |
| Interest Coverage Ratio | 34.354 | |
| Interest Coverage Ratio QoQ | 16.479 % | |
| Interest Coverage Ratio YoY | 23.434 % | |
| Interest Coverage Ratio IPRWA | ODC: 34.354 high: 5.697 median: 5.697 mean: -1.032 low: -212.703 |
|
| Operating Cash Flow Ratio | 0.327 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 12.852 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 5.284 | |
| Dividend Payout Ratio | 0.189 | |
| Dividend Rate | $ 0.19 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 5.324 % | |
| Revenue Growth | 7.298 % | |
| Revenue Growth QoQ | -419.807 % | |
| Revenue Growth YoY | -184.644 % | |
| Revenue Growth IPRWA | high: 23.277 % mean: 18.207 % median: 16.474 % ODC: 7.298 % low: 1.705 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 26.699 % | |
| Gross Margin QoQ | -2.686 % | |
| Gross Margin YoY | -9.384 % | |
| Gross Margin IPRWA | high: 33.638 % ODC: 26.699 % mean: 22.218 % median: 18.328 % low: 10.171 % |
|
| EBIT Margin | 14.603 % | |
| EBIT Margin QoQ | 5.035 % | |
| EBIT Margin YoY | 1.227 % | |
| EBIT Margin IPRWA | ODC: 14.603 % high: 13.141 % median: 9.224 % mean: 1.806 % low: -1866.48 % |
|
| Return On Sales (ROS) | 13.531 % | |
| Return On Sales QoQ | 1.515 % | |
| Return On Sales YoY | -6.204 % | |
| Return On Sales IPRWA | ODC: 13.531 % high: 12.343 % median: 9.376 % mean: 3.476 % low: -1463.687 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 18.7 M | |
| Free Cash Flow Yield | 2.151 % | |
| Free Cash Flow Yield QoQ | 44.848 % | |
| Free Cash Flow Yield YoY | -19.619 % | |
| Free Cash Flow Yield IPRWA | high: 2.258 % ODC: 2.151 % median: 0.964 % mean: 0.935 % low: -2.966 % |
|
| Free Cash Growth | 51.374 % | |
| Free Cash Growth QoQ | -94.036 % | |
| Free Cash Growth YoY | -105.322 % | |
| Free Cash Growth IPRWA | high: 75.394 % median: 75.394 % ODC: 51.374 % mean: -3.495 % low: -220.736 % |
|
| Free Cash To Net Income | 1.285 | |
| Cash Flow Margin | 15.519 % | |
| Cash Flow To Earnings | 1.35 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.646 % | |
| Return On Assets QoQ | 11.498 % | |
| Return On Assets YoY | -0.681 % | |
| Return On Assets IPRWA | ODC: 3.646 % high: 1.93 % median: 1.788 % mean: 0.22 % low: -4.185 % |
|
| Return On Capital Employed (ROCE) | 5.288 % | |
| Return On Equity (ROE) | 0.051 | |
| Return On Equity QoQ | 10.405 % | |
| Return On Equity YoY | -7.028 % | |
| Return On Equity IPRWA | high: 0.282 ODC: 0.051 median: 0.038 mean: 0.013 low: -0.061 |
|
| DuPont ROE | 5.21 % | |
| Return On Invested Capital (ROIC) | 4.603 % | |
| Return On Invested Capital QoQ | 10.49 % | |
| Return On Invested Capital YoY | -4.975 % | |
| Return On Invested Capital IPRWA | ODC: 4.603 % high: 2.646 % median: 2.646 % mean: 2.416 % low: -2.084 % |
|