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 outlining emissions-intensity and operational initiatives.
July 2, 2026 — Company announced the second-quarter 2026 results release would occur on July 21 after market close.
July 21, 2026 — Range announced its second-quarter 2026 financial results and related disclosures.
Technical Analysis
ADX at 25.37 indicates a strong trend in place, supporting the case for continued directional movement over the near term.
DI+ shows a peak-and-reverse, a bearish signal, while DI- also shows a peak-and-reverse that reads as bullish; the opposing DI signals imply the trend’s direction faces mixed push-pull forces despite ADX strength.
MACD stands at 0.63 with a dip-and-reversal and has crossed above its 0.51 signal line, signaling bullish momentum in the short run.
MRO at 31.9 sits positive, which indicates the price trades above the WMDST target and implies potential mean reversion downward pressure if momentum stalls.
RSI at 53.75 with a dip-and-reversal points to renewed buying momentum while remaining below overbought thresholds.
Price action sits above short- and intermediate-term averages: 12-day EMA $40.23 (increasing), 20-day average $39.92 and 200-day average $38.96, with the close at $41.25 slightly above the 1x Bollinger upper band ($41.03). SuperTrend support lies near $38.79 and the Ichimoku cloud levels cluster around $37–$39, defining immediate support and resistance zones.
Fundamental Analysis
Profitability: EBIT $263,044,000 and an EBIT margin of 34.63% reflect operating strength, though EBIT margin declined QoQ by 18.32% and YoY by 26.32%. The EBIT margin sits above the industry peer mean and above the industry peer median, indicating superior margin capture relative to peers.
Revenue and margins: Total revenue reached $759,583,000 while gross margin registered 34.57% with a QoQ contraction of 35.13% and minimal YoY change. Operating margin equaled 26.52% but fell QoQ by 44.67%, signaling near-term margin compression despite healthy absolute margins.
Earnings and cash flow: Reported EPS $0.79 versus an estimate of $0.65 produced a positive surprise of 21.54%. Operating cash flow totaled $235,015,000 while free cash flow equaled $53,561,000; free cash flow yield stands at 0.59% with sharp declines in free cash flow growth QoQ and YoY, indicating limited cash conversion momentum.
Liquidity and working capital: Cash and short-term investments total $247,000 and the current ratio sits at 0.65 (up QoQ by 17.17% but below the industry peer mean), reflecting constrained near-term liquidity relative to typical peers.
Leverage and coverage: Total debt $1,016,557,000 with net debt $866,838,000 and debt-to-EBITDA of 2.85. Interest coverage registers 18.25x, providing comfortable coverage of interest obligations despite moderate leverage.
Valuation metrics: Trailing PE stands at 48.81, forward PE 37.88, EV/Revenue 13.20, enterprise multiple 28.16, price-to-book 1.91, and price-to-sales 11.86. Forward EPS equals $0.99. Low cash on hand and a free cash flow yield below 1% weigh on the multiple justification.
WMDST valuation view: The current valuation, as determined by WMDST, reads as over-valued given elevated multiples, minimal cash reserves, and deteriorating free cash growth despite above-mean operating margins and an earnings surprise.
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 | $ 225.8 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 | $ 0.99 | |
| 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: 49.871 RRC: 28.156 mean: 24.566 median: 22.506 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: 0.637 mean: 0.192 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: 1.74 mean: 0.542 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: 4.654 median: 2.337 mean: 2.198 RRC: 1.914 low: 0.434 |
|
| 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: 28.974 median: 24.813 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: 23.352 RRC: 11.863 mean: 6.375 median: 5.359 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: 0.701 median: 0.232 mean: 0.225 RRC: 0.102 low: 0.017 |
|
| Receivables Turnover | 2.682 | |
| Receivables Turnover Ratio QoQ | -20.212 % | |
| Receivables Turnover Ratio YoY | 8.306 % | |
| Receivables Turnover Ratio IPRWA | high: 6.417 RRC: 2.682 mean: 2.544 median: 1.99 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: 63.579 RRC: -4.904 mean: -11.199 median: -11.56 low: -188.724 |
|
| 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: 1.252 mean: 1.212 RRC: 0.649 low: 0.467 |
|
| 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: 86.568 mean: 30.594 RRC: 18.245 median: 15.887 low: -13.39 |
|
| 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: 94.825 % median: 35.834 % mean: 33.267 % 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 % mean: 118.249 % median: 79.032 % 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: 85.152 % RRC: 34.566 % mean: 29.126 % median: 22.517 % low: 3.205 % |
|
| EBIT Margin | 34.63 % | |
| EBIT Margin QoQ | -18.32 % | |
| EBIT Margin YoY | -26.321 % | |
| EBIT Margin IPRWA | high: 95.642 % RRC: 34.63 % mean: 23.748 % median: 17.819 % low: 2.99 % |
|
| Return On Sales (ROS) | 26.518 % | |
| Return On Sales QoQ | -44.671 % | |
| Return On Sales YoY | -1.001 % | |
| Return On Sales IPRWA | high: 95.642 % RRC: 26.518 % mean: 21.306 % median: 16.032 % low: 2.583 % |
|
| 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: 17.176 % mean: 3.395 % median: 3.3 % RRC: 0.594 % low: -3.681 % |
|
| Free Cash Growth | -88.181 % | |
| Free Cash Growth QoQ | -126.301 % | |
| Free Cash Growth YoY | -3220.347 % | |
| Free Cash Growth IPRWA | high: 1077.9 % median: 227.394 % mean: 66.844 % RRC: -88.181 % low: -1268.173 % |
|
| 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: 10.571 % median: 3.127 % mean: 2.928 % RRC: 2.61 % low: -2.231 % |
|
| 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: 0.233 mean: 0.069 median: 0.064 RRC: 0.041 low: -0.064 |
|
| 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 % mean: 5.684 % median: 4.949 % RRC: 3.706 % low: -1.274 % |
|