Recent News
Between mid-June and August 2026 the company announced multiple store openings (McMinnville, OR; Rapid City, SD), expanded private‑label organic bread offerings (mid‑July), launched anniversary promotions and community donation activity tied to its 71st anniversary, received a 2026 Sustainability Retailer of the Year recognition (July 31, 2026), and declared a quarterly dividend of $0.15 per share in early August 2026.
Technical Analysis
Directional indicators show no established trend: ADX at 16.87 indicates a non‑trending market, so price moves likely react more to short‑term momentum and news than a sustained directional drive.
DI+ peaked and reversed, a bearish signal; DI+ now 19.82 with a peak‑and‑reversal profile, while DI‑ sits at 25.74 and is decreasing—this configuration favors sellers in the immediate term but reduces directional conviction as ADX remains below 20.
MACD stands at -0.81 and remains negative but is increasing, with MACD equal to its signal line; negative levels paired with an upward MACD trend indicate weakening bearish momentum without a confirmed bullish crossover.
MRO equals -40.07 and is decreasing; the oscillator’s negative reading implies the market price sits below the model target and therefore carries measurable upside potential via mean reversion, with the magnitude indicating material room for a corrective move.
RSI at 46.47 and decreasing indicates mild bearish momentum; the indicator sits below neutral and points to extra downside risk before any meaningful recovery.
Price sits below short‑term EMAs and the 50‑day average: the close at $27.00 undercuts the 12‑day EMA ($27.69, decreasing) and the 50‑day average ($30.29), signaling short‑term price pressure against the stock’s mid‑term average.
Bollinger context shows the close slightly below the 1× lower band ($27.24) and above the 2× lower band ($26.85), highlighting a shallow oversold region that could invite mean‑reversion bounces rather than sustained breakdowns.
Fundamental Analysis
Earnings per share printed at $0.48 vs. an estimate of $0.52, a negative surprise of $0.04, or -7.69%.
Operating performance: operating margin equals 4.865%, with operating margin down -12.437% QoQ but up +2.443% YoY; EBIT equals $14,996,000 and EBIT margin equals 4.48%, marginally above the industry peer mean of 4.328% and essentially in line with the industry peer median of 4.415%.
Gross margin registers 29.279%, down -3.576% QoQ and -2.074% YoY, indicating modest compression at the gross level while operating margin compression suggests higher operating expense absorption this quarter.
Revenue and growth: total revenue stands at $334,739,000. Reported revenue growth metrics show a large negative year‑over‑year figure in the supplied feed (revenue growth YoY -62.833%); QoQ revenue growth also shows a sizable negative read—interpret with caution given potential period mismatches, but current operating metrics show tightened margin conversion of sales into EBIT and operating cash flow.
Cash flow and capital: free cash flow equals $1,244,000 with a free cash flow yield of 0.175%, and free cash flow declined materially QoQ and YoY (free cash growth -35.343% QoQ, -69.300% YoY in the supplied figures), signaling constrained cash generation despite positive operating cash flow of $11,258,000.
Balance sheet and leverage: total debt equals $322,680,000; debt‑to‑EBITDA sits at 13.83x while interest coverage registers strongly at 22.62x—the firm carries meaningful leverage relative to earnings but retains ample coverage for interest expense at present.
Market multiples and valuation: price/book equals 2.96x versus an industry peer mean of 11.03x (below the peer mean and median); P/E equals 64.11x against a peer mean of 181.91x (below peer mean); enterprise multiple equals 43.49x versus a peer mean of 96.84x (below peer mean). The current valuation, as determined by WMDST, registers as under‑valued given lower relative multiples alongside thin free cash flow yield and elevated leverage.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 20.7 M |
| Operating Cash Flow | $ 11.3 M | |
| Capital Expenditures | $ -10.01 M | |
| Change In Working Capital | $ -10.47 M | |
| Dividends Paid | $ -3.46 M | |
| Cash Flow Delta | $ -3.26 M | |
| End Period Cash Flow | $ 17.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 334.7 M | |
| Forward Revenue | $ 100.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 236.7 M | |
| Depreciation | $ 8.3 M | |
| Depreciation and Amortization | $ 8.3 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 318.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 98.0 M | |
| EBITDA | $ 23.3 M | |
| EBIT | $ 15.0 M | |
| Operating Income | $ 16.3 M | |
| Interest Income | — | |
| Interest Expense | $ 663.0 K | |
| Net Interest Income | $ -663.00 K | |
| Income Before Tax | $ 14.3 M | |
| Tax Provision | $ 3.3 M | |
| Tax Rate | 22.745 % | |
| Net Income | $ 11.1 M | |
| Net Income From Continuing Operations | $ 11.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.52 | |
| EPS Actual | $ 0.48 | |
| EPS Difference | $ -0.04 | |
| EPS Surprise | -7.692 % | |
| Forward EPS | $ 0.58 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 687.7 M | |
| Intangible Assets | $ 15.9 M | |
| Net Tangible Assets | $ 223.5 M | |
| Total Current Assets | $ 174.1 M | |
| Cash and Short-Term Investments | $ 17.5 M | |
| Cash | $ 17.5 M | |
| Net Receivables | $ 10.6 M | |
| Inventory | $ 135.3 M | |
| Long-Term Investments | $ 1.0 K | |
| LIABILITIES | ||
| Accounts Payable | $ 89.7 M | |
| Short-Term Debt | $ 58.0 K | |
| Total Current Liabilities | $ 158.2 M | |
| Net Debt | — | |
| Total Debt | $ 322.7 M | |
| Total Liabilities | $ 448.3 M | |
| EQUITY | ||
| Total Equity | $ 239.4 M | |
| Retained Earnings | $ 174.8 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 10.39 | |
| Shares Outstanding | 23.046 M | |
| Revenue Per-Share | $ 14.52 | |
| VALUATION | Market Capitalization | $ 709.2 M |
| Enterprise Value | $ 1.0 B | |
| Enterprise Multiple | 43.486 | |
| Enterprise Multiple QoQ | 23.415 % | |
| Enterprise Multiple YoY | -19.234 % | |
| Enterprise Multiple IPRWA | high: 120.675 mean: 96.837 median: 92.022 NGVC: 43.486 low: 23.771 |
|
| EV/R | 3.031 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.872 | |
| Asset To Liability | 1.534 | |
| Debt To Capital | 0.574 | |
| Debt To Assets | 0.469 | |
| Debt To Assets QoQ | -0.998 % | |
| Debt To Assets YoY | -7.566 % | |
| Debt To Assets IPRWA | high: 0.504 NGVC: 0.469 median: 0.256 mean: 0.22 low: 0.054 |
|
| Debt To Equity | 1.348 | |
| Debt To Equity QoQ | -4.107 % | |
| Debt To Equity YoY | -18.416 % | |
| Debt To Equity IPRWA | high: 3.738 NGVC: 1.348 median: 0.786 mean: 0.718 low: 0.083 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.962 | |
| Price To Book QoQ | 10.081 % | |
| Price To Book YoY | -36.594 % | |
| Price To Book IPRWA | high: 13.2 mean: 11.032 median: 10.71 NGVC: 2.962 low: 0.65 |
|
| Price To Earnings (P/E) | 64.113 | |
| Price To Earnings QoQ | 37.894 % | |
| Price To Earnings YoY | -10.498 % | |
| Price To Earnings IPRWA | high: 192.252 median: 192.252 mean: 181.913 NGVC: 64.113 low: 33.582 |
|
| PE/G Ratio | -3.719 | |
| Price To Sales (P/S) | 2.119 | |
| Price To Sales QoQ | 15.043 % | |
| Price To Sales YoY | -26.387 % | |
| Price To Sales IPRWA | high: 9.324 median: 5.684 mean: 5.629 NGVC: 2.119 low: 0.09 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 50.32 | |
| Forward PE/G | -2.919 | |
| Forward P/S | 7.051 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 21.97 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.488 | |
| Asset Turnover Ratio QoQ | -2.164 % | |
| Asset Turnover Ratio YoY | -1.786 % | |
| Asset Turnover Ratio IPRWA | high: 1.07 mean: 0.686 median: 0.619 NGVC: 0.488 low: 0.29 |
|
| Receivables Turnover | 28.235 | |
| Receivables Turnover Ratio QoQ | -3.569 % | |
| Receivables Turnover Ratio YoY | 8.484 % | |
| Receivables Turnover Ratio IPRWA | high: 36.105 NGVC: 28.235 mean: 17.061 median: 16.282 low: 2.901 |
|
| Inventory Turnover | 1.787 | |
| Inventory Turnover Ratio QoQ | -2.052 % | |
| Inventory Turnover Ratio YoY | -3.304 % | |
| Inventory Turnover Ratio IPRWA | high: 8.548 mean: 2.686 median: 2.192 low: 1.957 NGVC: 1.787 |
|
| Days Sales Outstanding (DSO) | 3.232 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 19.869 | |
| Cash Conversion Cycle Days QoQ | 2.939 % | |
| Cash Conversion Cycle Days YoY | 9.668 % | |
| Cash Conversion Cycle Days IPRWA | high: 45.255 NGVC: 19.869 median: 4.17 mean: 3.252 low: -14.795 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 21.057 | |
| CapEx To Revenue | -0.03 | |
| CapEx To Depreciation | -1.202 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 240.8 M | |
| Net Invested Capital | $ 240.9 M | |
| Invested Capital | $ 240.9 M | |
| Net Tangible Assets | $ 223.5 M | |
| Net Working Capital | $ 15.9 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.11 | |
| Current Ratio | 1.1 | |
| Current Ratio QoQ | 4.837 % | |
| Current Ratio YoY | 8.305 % | |
| Current Ratio IPRWA | high: 3.21 NGVC: 1.1 mean: 0.879 low: 0.771 median: 0.771 |
|
| Quick Ratio | 0.245 | |
| Quick Ratio QoQ | -2.437 % | |
| Quick Ratio YoY | 17.197 % | |
| Quick Ratio IPRWA | high: 1.753 mean: 0.361 NGVC: 0.245 low: 0.225 median: 0.225 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.832 | |
| Cost Of Debt | 0.158 % | |
| Interest Coverage Ratio | 22.618 | |
| Interest Coverage Ratio QoQ | -21.045 % | |
| Interest Coverage Ratio YoY | 0.707 % | |
| Interest Coverage Ratio IPRWA | high: 92.812 mean: 34.195 NGVC: 22.618 median: 11.226 low: -3.579 |
|
| Operating Cash Flow Ratio | 0.103 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 34.823 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 3.204 | |
| Dividend Payout Ratio | 0.312 | |
| Dividend Rate | $ 0.15 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.436 % | |
| Revenue Growth | -0.782 % | |
| Revenue Growth QoQ | -246.168 % | |
| Revenue Growth YoY | -62.833 % | |
| Revenue Growth IPRWA | high: 32.818 % NGVC: -0.782 % mean: -2.652 % median: -6.769 % low: -10.667 % |
|
| Earnings Growth | -17.241 % | |
| Earnings Growth QoQ | -193.869 % | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | high: 95.0 % mean: -6.403 % median: -10.811 % NGVC: -17.241 % low: -90.0 % |
|
| MARGINS | ||
| Gross Margin | 29.279 % | |
| Gross Margin QoQ | -3.576 % | |
| Gross Margin YoY | -2.074 % | |
| Gross Margin IPRWA | high: 40.584 % NGVC: 29.279 % median: 25.144 % mean: 21.463 % low: 5.962 % |
|
| EBIT Margin | 4.48 % | |
| EBIT Margin QoQ | -16.511 % | |
| EBIT Margin YoY | -5.525 % | |
| EBIT Margin IPRWA | high: 9.167 % NGVC: 4.48 % median: 4.415 % mean: 4.328 % low: -2.338 % |
|
| Return On Sales (ROS) | 4.865 % | |
| Return On Sales QoQ | -12.437 % | |
| Return On Sales YoY | 2.443 % | |
| Return On Sales IPRWA | high: 10.059 % NGVC: 4.865 % median: 4.215 % mean: 4.14 % low: -0.206 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.2 M | |
| Free Cash Flow Yield | 0.175 % | |
| Free Cash Flow Yield QoQ | -43.548 % | |
| Free Cash Flow Yield YoY | -139.773 % | |
| Free Cash Flow Yield IPRWA | high: 2.58 % NGVC: 0.175 % mean: 0.083 % median: -0.193 % low: -3.231 % |
|
| Free Cash Growth | -35.343 % | |
| Free Cash Growth QoQ | -57.58 % | |
| Free Cash Growth YoY | -69.3 % | |
| Free Cash Growth IPRWA | high: 173.63 % NGVC: -35.343 % mean: -78.387 % median: -131.912 % low: -502.391 % |
|
| Free Cash To Net Income | 0.112 | |
| Cash Flow Margin | 4.871 % | |
| Cash Flow To Earnings | 1.473 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.614 % | |
| Return On Assets QoQ | -18.69 % | |
| Return On Assets YoY | -7.982 % | |
| Return On Assets IPRWA | high: 3.082 % mean: 2.057 % median: 1.856 % NGVC: 1.614 % low: -0.718 % |
|
| Return On Capital Employed (ROCE) | 2.832 % | |
| Return On Equity (ROE) | 0.046 | |
| Return On Equity QoQ | -20.505 % | |
| Return On Equity YoY | -19.299 % | |
| Return On Equity IPRWA | high: 0.14 mean: 0.061 median: 0.057 NGVC: 0.046 low: -0.012 |
|
| DuPont ROE | 4.709 % | |
| Return On Invested Capital (ROIC) | 4.81 % | |
| Return On Invested Capital QoQ | -19.713 % | |
| Return On Invested Capital YoY | -19.807 % | |
| Return On Invested Capital IPRWA | high: 8.629 % NGVC: 4.81 % mean: 4.547 % median: 4.134 % low: -0.826 % |
|