Technical Analysis
ADX at 15.13 indicates no prevailing trend; directional indicators show conflicting signals as DI+ (16.43) exhibits a peak-and-reversal — a bearish signal — while DI- (19.58) also shows a peak-and-reversal, which reads as bullish for the downside line. Together these directional patterns imply limited directional conviction and favor sideways consolidation, with a slight downside tilt driven by the DI+ peak-and-reversal.
MACD sits at -0.20 and has turned higher from its recent trough; the MACD line currently crosses above its signal line (-0.35), which constitutes a bullish momentum signal despite MACD’s negative absolute value. If MACD maintains above the signal line, expect momentum to support tests of short-term resistance; failure to hold the crossover would reintroduce downward pressure.
MRO registers 18.51 with a peak-and-reversal profile. A positive MRO indicates price currently sits above the model target, which increases the probability of mean reversion toward the target and therefore applies near-term downward pressure on price.
RSI at 48.44 and rising implies momentum rebuilding toward the mid-range without overbought stress; the rising short-term 12-day EMA (price12dayEMA 44.17) and price sitting marginally above the 20-day and 50-day averages (20-day 43.96; 50-day 44.59) frame price in a shallow uptrend inside a tight band. Bollinger bands compress (upper ~44.69 / lower ~43.23), reinforcing a low-volatility consolidation regime where breakouts require volume confirmation.
Price sits at $44.67, above the 200-day average ($40.31) and near the ichimoku Tenkan/Kijun cluster (Tenkan 43.98, Kijun 44.85). Short-term support aligns near the 20-day average while immediate resistance aligns near the upper band and ichimoku Senkou A (45.40). Volume runs below short- and long-term averages, reducing the odds of sustained directional moves absent an external catalyst.
Fundamental Analysis
For the period ending 2026-04-30 (report dated 2026-05-27) REX reported net sales of $156,499,000, gross profit of $29,071,000, EBIT of $19,343,000 and EBITDA of $26,053,000. Net income totaled $18,452,000, producing an operating (EBIT) margin of 12.36%. These results reflect ethanol operations across six facilities and related by‑product sales.
Margin and profitability metrics show mixed placement versus industry peers: the 12.36% EBIT/operating margin sits below the industry peer mean operating margin (19.27%) but above the industry peer median (8.49%), indicating performance stronger than a typical peer but not at the top of the peer distribution. Return on equity equals 2.93%, marginally above the industry peer median of 2.56% and well above the industry peer mean (negative in the dataset), reflecting modest capital returns relative to the capital base.
Liquidity and leverage favor stability: cash and short-term investments total $364,308,000, cash equals $117,668,000, current ratio stands at 6.76x and quick ratio at 6.35x, while total debt sits at $19,541,000. Debt-to-assets at 2.42% compares well below the industry peer mean (45.61%), indicating a very low leverage profile and a strong balance-sheet buffer against operational cyclicality.
Cash-flow metrics present a caution: free cash flow equals -$13,728,000 and free cash flow yield -0.94%, with free cash growth and free cash conversion showing declines quarter-over-quarter. Operating cash flow registered -$2,089,000 for the period, and the company recorded a cash conversion ratio of 0.416. Those negative free cash dynamics constrain reinvestment flexibility despite a large cash stockpile.
Market multiples and WMDST valuation: price-to-book ratio equals 2.33, above the industry peer mean (1.85) and median (1.93); price-to-sales sits at 9.39, materially above the industry peer mean (3.03) and median (1.81); forward P/E equals 72.2x, slightly below the industry peer mean/median near the high-70s. WMDST values the stock as over-valued based on the supplied valuation framework and the blend of stretched market multiples versus modest underlying cash-flow performance.
Recent growth dynamics read mixed by the provided rates: reported revenue growth stands at -0.92% year-to-date; quarter-over-quarter revenue change equals -90.81% and year-over-year revenue growth shows -1,401.41% per the supplied figures, which indicate pronounced variability in period-to-period comparatives. Operating margin improved QoQ by 17.21% and YoY by 133.03%, reflecting margin expansion even as topline dynamics proved volatile. The next scheduled report date in public filings shows a forthcoming fiscal Q2 report on 2026-08-26.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-04-30 |
| REPORT DATE: | 2026-05-27 |
| NEXT REPORT DATE: | 2026-08-26 |
| CASH FLOW | Begin Period Cash Flow | $ 188.7 M |
| Operating Cash Flow | $ -2.09 M | |
| Capital Expenditures | $ -11.64 M | |
| Change In Working Capital | $ -22.41 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -71.07 M | |
| End Period Cash Flow | $ 117.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 156.5 M | |
| Forward Revenue | $ 39.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 127.4 M | |
| Depreciation | $ 6.7 M | |
| Depreciation and Amortization | $ 6.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 137.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 29.1 M | |
| EBITDA | $ 26.1 M | |
| EBIT | $ 19.3 M | |
| Operating Income | $ 19.3 M | |
| Interest Income | $ 3.2 M | |
| Interest Expense | — | |
| Net Interest Income | $ 3.2 M | |
| Income Before Tax | $ 26.1 M | |
| Tax Provision | $ 4.4 M | |
| Tax Rate | 17.0 % | |
| Net Income | $ 18.5 M | |
| Net Income From Continuing Operations | $ 21.7 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.57 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 807.7 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 629.2 M | |
| Total Current Assets | $ 441.5 M | |
| Cash and Short-Term Investments | $ 364.3 M | |
| Cash | $ 117.7 M | |
| Net Receivables | $ 21.6 M | |
| Inventory | $ 26.5 M | |
| Long-Term Investments | $ 1.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 31.1 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 65.3 M | |
| Net Debt | — | |
| Total Debt | $ 19.5 M | |
| Total Liabilities | $ 83.9 M | |
| EQUITY | ||
| Total Equity | $ 629.2 M | |
| Retained Earnings | $ 628.8 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 19.10 | |
| Shares Outstanding | 32.938 M | |
| Revenue Per-Share | $ 4.75 | |
| VALUATION | Market Capitalization | $ 1.5 B |
| Enterprise Value | $ 1.1 B | |
| Enterprise Multiple | 43.149 | |
| Enterprise Multiple QoQ | 32.916 % | |
| Enterprise Multiple YoY | 50.199 % | |
| Enterprise Multiple IPRWA | high: 122.02 REX: 43.149 mean: 40.064 median: 28.296 low: -35.19 |
|
| EV/R | 7.183 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.284 | |
| Asset To Liability | 9.624 | |
| Debt To Capital | 0.03 | |
| Debt To Assets | 0.024 | |
| Debt To Assets QoQ | -9.265 % | |
| Debt To Assets YoY | -35.921 % | |
| Debt To Assets IPRWA | high: 1.079 mean: 0.456 median: 0.315 REX: 0.024 low: 0.003 |
|
| Debt To Equity | 0.031 | |
| Debt To Equity QoQ | -10.824 % | |
| Debt To Equity YoY | -36.392 % | |
| Debt To Equity IPRWA | high: 2.48 median: 1.168 mean: 1.138 REX: 0.031 low: -0.809 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.334 | |
| Price To Book QoQ | 29.459 % | |
| Price To Book YoY | 85.467 % | |
| Price To Book IPRWA | high: 3.38 REX: 2.334 median: 1.933 mean: 1.847 low: -1.107 |
|
| 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) | 9.386 | |
| Price To Sales QoQ | 34.629 % | |
| Price To Sales YoY | 120.133 % | |
| Price To Sales IPRWA | high: 18.726 REX: 9.386 mean: 3.028 median: 1.812 low: 0.159 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 72.225 | |
| Forward PE/G | — | |
| Forward P/S | 37.062 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -17.454 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.195 | |
| Asset Turnover Ratio QoQ | -4.478 % | |
| Asset Turnover Ratio YoY | -12.952 % | |
| Asset Turnover Ratio IPRWA | high: 0.627 median: 0.288 mean: 0.238 REX: 0.195 low: 0.08 |
|
| Receivables Turnover | 8.628 | |
| Receivables Turnover Ratio QoQ | 15.038 % | |
| Receivables Turnover Ratio YoY | 34.821 % | |
| Receivables Turnover Ratio IPRWA | REX: 8.628 high: 6.082 median: 4.869 mean: 3.841 low: 0.851 |
|
| Inventory Turnover | 4.636 | |
| Inventory Turnover Ratio QoQ | 0.774 % | |
| Inventory Turnover Ratio YoY | 0.111 % | |
| Inventory Turnover Ratio IPRWA | REX: 4.636 high: 2.194 median: 2.047 mean: 1.361 low: 0.192 |
|
| Days Sales Outstanding (DSO) | 10.577 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 5.448 | |
| Cash Conversion Cycle Days QoQ | -21.725 % | |
| Cash Conversion Cycle Days YoY | -70.417 % | |
| Cash Conversion Cycle Days IPRWA | high: 160.738 median: 67.48 mean: 59.876 REX: 5.448 low: -20.166 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.416 | |
| CapEx To Revenue | -0.074 | |
| CapEx To Depreciation | -1.735 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 629.2 M | |
| Net Invested Capital | $ 629.2 M | |
| Invested Capital | $ 629.2 M | |
| Net Tangible Assets | $ 629.2 M | |
| Net Working Capital | $ 376.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 5.578 | |
| Current Ratio | 6.76 | |
| Current Ratio QoQ | 13.783 % | |
| Current Ratio YoY | -27.825 % | |
| Current Ratio IPRWA | high: 9.42 REX: 6.76 mean: 1.181 median: 1.136 low: 0.258 |
|
| Quick Ratio | 6.354 | |
| Quick Ratio QoQ | 14.189 % | |
| Quick Ratio YoY | -26.545 % | |
| Quick Ratio IPRWA | REX: 6.354 high: 3.098 median: 0.854 mean: 0.739 low: 0.165 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.75 | |
| Cost Of Debt | 31.931 % | |
| Interest Coverage Ratio | 2.464 | |
| Interest Coverage Ratio QoQ | 16.133 % | |
| Interest Coverage Ratio YoY | 130.328 % | |
| Interest Coverage Ratio IPRWA | high: 30.597 mean: 8.38 median: 3.548 REX: 2.464 low: -21.314 |
|
| Operating Cash Flow Ratio | 0.196 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 24.563 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.246 % | |
| Revenue Growth | -0.924 % | |
| Revenue Growth QoQ | -90.814 % | |
| Revenue Growth YoY | -1401.408 % | |
| Revenue Growth IPRWA | high: 31.425 % median: 11.172 % mean: 9.0 % REX: -0.924 % low: -17.148 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 18.576 % | |
| Gross Margin QoQ | 1.486 % | |
| Gross Margin YoY | 105.078 % | |
| Gross Margin IPRWA | high: 68.433 % mean: 46.614 % median: 40.091 % REX: 18.576 % low: -1.016 % |
|
| EBIT Margin | 12.36 % | |
| EBIT Margin QoQ | 17.212 % | |
| EBIT Margin YoY | 133.032 % | |
| EBIT Margin IPRWA | high: 40.52 % mean: 17.845 % REX: 12.36 % median: 8.492 % low: -55.081 % |
|
| Return On Sales (ROS) | 12.36 % | |
| Return On Sales QoQ | 17.212 % | |
| Return On Sales YoY | 133.032 % | |
| Return On Sales IPRWA | high: 40.475 % mean: 19.266 % REX: 12.36 % median: 8.273 % low: -44.755 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -13.73 M | |
| Free Cash Flow Yield | -0.935 % | |
| Free Cash Flow Yield QoQ | -125.114 % | |
| Free Cash Flow Yield YoY | -39.167 % | |
| Free Cash Flow Yield IPRWA | high: 8.466 % median: 1.839 % mean: 1.63 % REX: -0.935 % low: -13.682 % |
|
| Free Cash Growth | -133.486 % | |
| Free Cash Growth QoQ | -298.457 % | |
| Free Cash Growth YoY | -37.281 % | |
| Free Cash Growth IPRWA | high: 442.455 % median: -0.637 % mean: -3.629 % REX: -133.486 % low: -253.619 % |
|
| Free Cash To Net Income | -0.744 | |
| Cash Flow Margin | 8.176 % | |
| Cash Flow To Earnings | 0.693 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.05 | |
| Return On Assets (ROA) | 2.299 % | |
| Return On Assets QoQ | -59.331 % | |
| Return On Assets YoY | 87.215 % | |
| Return On Assets IPRWA | high: 9.319 % REX: 2.299 % mean: 1.471 % median: 0.69 % low: -17.967 % |
|
| Return On Capital Employed (ROCE) | 2.606 % | |
| Return On Equity (ROE) | 0.029 | |
| Return On Equity QoQ | -59.073 % | |
| Return On Equity YoY | 81.211 % | |
| Return On Equity IPRWA | high: 0.289 REX: 0.029 median: 0.026 mean: -0.096 low: -0.328 |
|
| DuPont ROE | 2.976 % | |
| Return On Invested Capital (ROIC) | 2.552 % | |
| Return On Invested Capital QoQ | 55.99 % | |
| Return On Invested Capital YoY | 108.157 % | |
| Return On Invested Capital IPRWA | high: 12.101 % median: 8.7 % mean: 7.289 % REX: 2.552 % low: -11.161 % |
|