Recent News
May 29, 2026 — Board declared a quarterly cash dividend of $0.10 per share payable June 26, 2026. June 22, 2026 — Company published its 2025–2026 Corporate Sustainability Report. July 2, 2026 — Company announced a conference call to discuss second‑quarter 2026 results to be released after market close on July 21, 2026.
Technical Analysis
Directional Indicators (ADX / DI+ / DI-): ADX at 22.99 signals an emerging trend in strength while DI+ shows a peak-and-reversal and DI- shows a dip-and-reversal; the directional setup therefore favors increasing downside pressure and an emerging bearish directional bias that supports the near-term negative outlook.
MACD: MACD sits above its signal line (MACD 0.39 vs signal 0.16) but the MACD trend registers a peak-and-reversal; the short-term momentum cross sits with weakening momentum overall, implying the bullish cross lacks continuation strength and increases downside risk relative to the introduction’s bias.
MRO (Momentum/Regression Oscillator): MRO positive at 22.73 and trending higher indicates price sits above the model target and carries measurable downside potential; this magnifies the pressure suggested by the directional indicators and supports a near-term price contraction narrative.
RSI: RSI at 49.64 with a peak-and-reversal reads as a near-neutral but rolling indicator; the reversal pattern reinforces the view of waning upside momentum rather than a fresh bullish impulse.
Price vs. Moving Averages, Bands, Ichimoku: Price closed at $38.14, below the 12‑day EMA ($38.86) and the 20‑day average ($38.69) while sitting just above the 50‑day average ($38.00) and marginally below the 200‑day average ($38.71). Bollinger bands range roughly $37.37–$40.02, placing price near the mid‑band with low realized volatility. Ichimoku lines place the Tenkan above price ($38.42) and Kijun slightly below ($37.73), a mixed internal picture but biased toward short-term softening given the EMA reversals—technicals therefore point to limited immediate upside and nearby support congestion rather than robust breakout potential.
Fundamental Analysis
Profitability & Margins: Operating income stands at $201,430,000 with EBIT $263,044,000 and an EBIT margin of 34.63%. That margin sits above the industry peer mean (22.94%) and industry peer median (17.82%). Quarter‑over‑quarter EBIT margin compressed about 18.3% and year‑over‑year contracted about 26.3%, signaling margin pressure despite the current level remaining above peers.
Earnings & Cash Flow: Reported EPS of $0.79 exceeded the $0.65 estimate by $0.14, an EPS surprise of +21.54%. Net income from continuing operations totaled $195,323,000. Operating cash flow reached $235,015,000 and free cash flow $53,561,000, producing a free cash flow yield of 0.59%, which sits below the industry peer mean free cash flow yield (3.99%). Free cash flow fell sharply QoQ and YoY based on the supplied growth rates, undercutting the quality of recent earnings relative to cash conversion.
Growth & Efficiency: Total revenue $759,583,000 showed YoY revenue growth of +66.42% while quarter‑over‑quarter revenue declined sharply (a QoQ change of -180.89% in the provided series). Asset turnover sits at 0.1015 and fell QoQ; return on equity sits at 4.15% with QoQ deterioration, indicating modest capital efficiency and weaker short‑term operating leverage despite strong YoY top‑line expansion.
Balance Sheet & Liquidity: Cash on hand remains $247,000 with total debt $1,016,557,000 and net debt about $866,838,000. Current ratio 0.65 sits below the industry peer mean (1.30) and close to the peer low, reflecting tighter near‑term liquidity coverage even as interest coverage remains robust (~18.25x).
Valuation: Price multiples show a trailing PE of 48.81 and a P/B of 1.91 (below the industry peer mean P/B of 2.28). The enterprise value / revenue and enterprise multiple metrics place the stock at a premium in certain measures while free cash flow metrics indicate limited yield. The current valuation as determined by WMDST: over-valued—valuation metrics and low free cash flow yield temper the case for multiple expansion absent a sustained operational improvement.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-21 |
| NEXT REPORT DATE: | 2026-10-20 |
| CASH FLOW | Begin Period Cash Flow | $ 247.0 K |
| Operating Cash Flow | $ 235.0 M | |
| Capital Expenditures | $ -181.45 M | |
| Change In Working Capital | $ -91.50 M | |
| Dividends Paid | $ -23.63 M | |
| Cash Flow Delta | $ 0.00 | |
| End Period Cash Flow | $ 247.0 K | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 759.6 M | |
| Forward Revenue | $ 227.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 497.0 M | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | $ 558.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 262.6 M | |
| EBITDA | $ 356.1 M | |
| EBIT | $ 263.0 M | |
| Operating Income | $ 201.4 M | |
| Interest Income | $ 27.0 K | |
| Interest Expense | $ 14.4 M | |
| Net Interest Income | $ -14.39 M | |
| Income Before Tax | $ 248.6 M | |
| Tax Provision | $ 53.3 M | |
| Tax Rate | 21.439 % | |
| Net Income | $ 195.3 M | |
| Net Income From Continuing Operations | $ 195.3 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.65 | |
| EPS Actual | $ 0.79 | |
| EPS Difference | $ 0.14 | |
| EPS Surprise | 21.538 % | |
| Forward EPS | $ 1.00 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 7.6 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 4.7 B | |
| Total Current Assets | $ 418.3 M | |
| Cash and Short-Term Investments | $ 247.0 K | |
| Cash | $ 247.0 K | |
| Net Receivables | $ 290.0 M | |
| Inventory | — | |
| Long-Term Investments | $ 78.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 193.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 644.8 M | |
| Net Debt | $ 866.8 M | |
| Total Debt | $ 1.0 B | |
| Total Liabilities | $ 2.9 B | |
| EQUITY | ||
| Total Equity | $ 4.7 B | |
| Retained Earnings | $ -419.88 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 20.15 | |
| Shares Outstanding | 233.674 M | |
| Revenue Per-Share | $ 3.25 | |
| VALUATION | Market Capitalization | $ 9.0 B |
| Enterprise Value | $ 10.0 B | |
| Enterprise Multiple | 28.156 | |
| Enterprise Multiple QoQ | 42.724 % | |
| Enterprise Multiple YoY | 18.642 % | |
| Enterprise Multiple IPRWA | high: 43.999 RRC: 28.156 median: 21.059 mean: 20.352 low: 5.198 |
|
| EV/R | 13.201 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.606 | |
| Asset To Liability | 2.65 | |
| Debt To Capital | 0.178 | |
| Debt To Assets | 0.134 | |
| Debt To Assets QoQ | 1.664 % | |
| Debt To Assets YoY | -30.994 % | |
| Debt To Assets IPRWA | high: 0.514 mean: 0.213 median: 0.192 RRC: 0.134 low: 0.011 |
|
| Debt To Equity | 0.216 | |
| Debt To Equity QoQ | 1.476 % | |
| Debt To Equity YoY | -35.634 % | |
| Debt To Equity IPRWA | high: 1.126 mean: 0.467 median: 0.404 RRC: 0.216 low: 0.012 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.914 | |
| Price To Book QoQ | -9.165 % | |
| Price To Book YoY | -8.088 % | |
| Price To Book IPRWA | high: 3.073 median: 2.58 mean: 2.284 RRC: 1.914 low: 0.472 |
|
| Price To Earnings (P/E) | 48.811 | |
| Price To Earnings QoQ | 80.301 % | |
| Price To Earnings YoY | -16.371 % | |
| Price To Earnings IPRWA | high: 87.244 RRC: 48.811 mean: 34.486 median: 23.629 low: 1.626 |
|
| PE/G Ratio | -1.016 | |
| Price To Sales (P/S) | 11.863 | |
| Price To Sales QoQ | 30.606 % | |
| Price To Sales YoY | -3.399 % | |
| Price To Sales IPRWA | high: 19.007 RRC: 11.863 mean: 5.455 median: 4.928 low: 0.502 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 37.884 | |
| Forward PE/G | -0.789 | |
| Forward P/S | 37.887 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.452 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.102 | |
| Asset Turnover Ratio QoQ | -29.509 % | |
| Asset Turnover Ratio YoY | 5.094 % | |
| Asset Turnover Ratio IPRWA | high: 0.793 median: 0.249 mean: 0.241 RRC: 0.102 low: 0.032 |
|
| Receivables Turnover | 2.682 | |
| Receivables Turnover Ratio QoQ | -20.212 % | |
| Receivables Turnover Ratio YoY | 8.306 % | |
| Receivables Turnover Ratio IPRWA | high: 6.185 RRC: 2.682 mean: 2.181 median: 1.772 low: 0.366 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 34.026 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -4.904 | |
| Cash Conversion Cycle Days QoQ | -53.596 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 40.606 RRC: -4.904 median: -5.032 mean: -20.007 low: -143.978 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -3.353 | |
| CapEx To Revenue | -0.239 | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 5.6 B | |
| Net Invested Capital | $ 5.6 B | |
| Invested Capital | $ 5.6 B | |
| Net Tangible Assets | $ 4.7 B | |
| Net Working Capital | $ -226.51 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.0 | |
| Current Ratio | 0.649 | |
| Current Ratio QoQ | 17.165 % | |
| Current Ratio YoY | 18.628 % | |
| Current Ratio IPRWA | high: 2.816 median: 1.435 mean: 1.303 RRC: 0.649 low: 0.61 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 2.854 | |
| Cost Of Debt | 1.135 % | |
| Interest Coverage Ratio | 18.245 | |
| Interest Coverage Ratio QoQ | -21.714 % | |
| Interest Coverage Ratio YoY | 48.676 % | |
| Interest Coverage Ratio IPRWA | high: 58.031 RRC: 18.245 median: 15.142 mean: 14.86 low: 2.816 |
|
| Operating Cash Flow Ratio | 0.364 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 38.93 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 8.266 | |
| Dividend Payout Ratio | 0.121 | |
| Dividend Rate | $ 0.10 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.121 % | |
| Revenue Growth | -28.843 % | |
| Revenue Growth QoQ | -180.888 % | |
| Revenue Growth YoY | 66.424 % | |
| Revenue Growth IPRWA | high: 47.746 % median: 31.845 % mean: 24.161 % RRC: -28.843 % low: -51.194 % |
|
| Earnings Growth | -48.026 % | |
| Earnings Growth QoQ | -156.259 % | |
| Earnings Growth YoY | 53.683 % | |
| Earnings Growth IPRWA | high: 669.565 % median: 44.262 % mean: 33.597 % RRC: -48.026 % low: -355.556 % |
|
| MARGINS | ||
| Gross Margin | 34.566 % | |
| Gross Margin QoQ | -35.132 % | |
| Gross Margin YoY | -1.417 % | |
| Gross Margin IPRWA | high: 63.524 % RRC: 34.566 % mean: 24.857 % median: 19.516 % low: 9.82 % |
|
| EBIT Margin | 34.63 % | |
| EBIT Margin QoQ | -18.32 % | |
| EBIT Margin YoY | -26.321 % | |
| EBIT Margin IPRWA | high: 85.454 % RRC: 34.63 % mean: 22.943 % median: 17.819 % low: 10.885 % |
|
| Return On Sales (ROS) | 26.518 % | |
| Return On Sales QoQ | -44.671 % | |
| Return On Sales YoY | -1.001 % | |
| Return On Sales IPRWA | high: 85.454 % RRC: 26.518 % mean: 18.72 % median: 16.032 % low: 8.517 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 53.6 M | |
| Free Cash Flow Yield | 0.594 % | |
| Free Cash Flow Yield QoQ | -87.291 % | |
| Free Cash Flow Yield YoY | -71.221 % | |
| Free Cash Flow Yield IPRWA | high: 9.689 % mean: 3.996 % median: 3.73 % RRC: 0.594 % low: 0.039 % |
|
| Free Cash Growth | -88.181 % | |
| Free Cash Growth QoQ | -126.301 % | |
| Free Cash Growth YoY | -3220.347 % | |
| Free Cash Growth IPRWA | high: 673.665 % median: 337.061 % mean: 194.445 % RRC: -88.181 % low: -625.873 % |
|
| Free Cash To Net Income | 0.274 | |
| Cash Flow Margin | 18.902 % | |
| Cash Flow To Earnings | 1.203 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 2.61 % | |
| Return On Assets QoQ | -43.359 % | |
| Return On Assets YoY | -20.427 % | |
| Return On Assets IPRWA | high: 9.068 % median: 2.843 % mean: 2.818 % RRC: 2.61 % low: 0.509 % |
|
| Return On Capital Employed (ROCE) | 3.803 % | |
| Return On Equity (ROE) | 0.041 | |
| Return On Equity QoQ | -44.12 % | |
| Return On Equity YoY | -27.949 % | |
| Return On Equity IPRWA | high: 0.149 mean: 0.067 median: 0.06 RRC: 0.041 low: 0.008 |
|
| DuPont ROE | 4.195 % | |
| Return On Invested Capital (ROIC) | 3.706 % | |
| Return On Invested Capital QoQ | -43.712 % | |
| Return On Invested Capital YoY | -23.509 % | |
| Return On Invested Capital IPRWA | high: 11.602 % median: 6.399 % mean: 6.01 % RRC: 3.706 % low: 1.098 % |
|