Recent News
On June 24, 2026 the board declared a regular quarterly cash dividend of $0.20 per share, payable July 15 with a record date of July 6. On August 5, 2026 the company hosted an Investor Day and simultaneously increased its share repurchase authorization by $600 million while outlining long-term financial targets.
Technical Analysis
ADX / DI+ / DI-: ADX registers 14.58, indicating no dominant trend; DI+ shows a dip-and-reverse (bullish signal) while DI- sits at 24.81 and is increasing (bearish signal). The mix of a recent buying-pressure uptick and rising negative directional pressure points to countervailing forces that favor range-bound trading rather than a sustained directional breakout.
MACD: MACD at -0.83 sits below the signal line (-0.53) with a decreasing MACD_trend, reflecting ongoing bearish momentum and a lack of immediate bullish crossover.
MRO (Momentum/Regression Oscillator): MRO equals -19.89 and the MRO_trend decreases; the negative reading implies the price currently sits below the model target (catch-up potential), but the declining MRO reduces the near-term magnitude of that potential.
RSI: RSI reads 47.24 with a decreasing trend, consistent with mild selling pressure and momentum that has not reached oversold extremes.
Price vs. Moving Averages and Bands: Last close $64.50 sits beneath the 20-day average ($67.42), 50-day average ($68.55) and 200-day average ($69.77); the 12-day EMA trends down. Price trades below the 1x lower Bollinger band ($65.24), indicating a short-term downside overshoot while volume on the session (~3.21M) runs well above the 10-day average (~1.18M), signaling elevated participation on the move.
Fundamental Analysis
Top-line and Margins: Trailing total revenue equals $2,483,245,000 with revenue growth of 16.47% (recent period) and revenue growth YoY of 8.81%; sequential revenue climbed ~28.84% QoQ. Gross margin stands at 18.33% and operating margin at 9.376%, while EBIT margin equals 9.224%—EBIT margin rose ~30.52% QoQ and ~54.79% YoY, reflecting stronger per-unit metal margins and operational leverage.
Profitability and EPS: Reported EPS came in at $1.73 versus an estimate of $1.71, an EPS surprise of ~1.17%. EBITDA totals $336,466,000 and EBIT equals $229,044,000; operating cash flow reached $232,567,000 with free cash flow of $76,426,000 and a free cash flow yield near 0.96%.
Balance Sheet and Leverage: Total debt equals $3,400,485,000 with net debt ~$2,840,726,000; debt-to-EBITDA registers about 10.1x and debt-to-assets at ~34.71%. Interest coverage sits near 5.70x. The current ratio equals 2.33 and quick ratio 1.54, providing working-capital cushion even as leverage measures remain elevated relative to operating cash generation.
Capital Allocation & Returns: Dividend per share carries a $0.20 quarterly rate (dividend yield ~0.28%) with a dividend payout ratio ~12.81% and dividend coverage ~7.81x. Return on equity equals 3.818% and return on assets ~1.788%, both improving sequentially but still modest in absolute terms. Book value per share stands at $40.94.
Valuation Context: Price/earnings reads ~41.4x trailing and forward P/E ~39.5x; price/book ~1.75x. Enterprise multiple equals ~32.0. WMDST values the stock as fair-valued given the combination of improving margins, restrained cash conversion on a large capital base, and elevated leverage that compresses implied upside relative to peers.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-05-31 |
| REPORT DATE: | 2026-06-25 |
| NEXT REPORT DATE: | 2026-09-24 |
| CASH FLOW | Begin Period Cash Flow | $ 503.6 M |
| Operating Cash Flow | $ 232.6 M | |
| Capital Expenditures | $ -156.14 M | |
| Change In Working Capital | $ -58.75 M | |
| Dividends Paid | $ -22.16 M | |
| Cash Flow Delta | $ 59.6 M | |
| End Period Cash Flow | $ 563.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.5 B | |
| Forward Revenue | $ 724.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 2.0 B | |
| Depreciation | $ 107.4 M | |
| Depreciation and Amortization | $ 107.4 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 2.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 455.1 M | |
| EBITDA | $ 336.5 M | |
| EBIT | $ 229.0 M | |
| Operating Income | $ 232.8 M | |
| Interest Income | — | |
| Interest Expense | $ 40.2 M | |
| Net Interest Income | $ -40.20 M | |
| Income Before Tax | $ 188.8 M | |
| Tax Provision | $ 15.8 M | |
| Tax Rate | 8.4 % | |
| Net Income | $ 173.0 M | |
| Net Income From Continuing Operations | $ 173.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.71 | |
| EPS Actual | $ 1.73 | |
| EPS Difference | $ 0.02 | |
| EPS Surprise | 1.17 % | |
| Forward EPS | $ 1.82 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 9.8 B | |
| Intangible Assets | $ 2.6 B | |
| Net Tangible Assets | $ 1.9 B | |
| Total Current Assets | $ 3.5 B | |
| Cash and Short-Term Investments | $ 559.8 M | |
| Cash | $ 559.8 M | |
| Net Receivables | $ 1.4 B | |
| Inventory | $ 1.2 B | |
| Long-Term Investments | $ 404.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 458.5 M | |
| Short-Term Debt | $ 88.8 M | |
| Total Current Liabilities | $ 1.5 B | |
| Net Debt | $ 2.8 B | |
| Total Debt | $ 3.4 B | |
| Total Liabilities | $ 5.3 B | |
| EQUITY | ||
| Total Equity | $ 4.5 B | |
| Retained Earnings | $ 4.9 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 40.94 | |
| Shares Outstanding | 110.695 M | |
| Revenue Per-Share | $ 22.43 | |
| VALUATION | Market Capitalization | $ 7.9 B |
| Enterprise Value | $ 10.8 B | |
| Enterprise Multiple | 32.003 | |
| Enterprise Multiple QoQ | -23.331 % | |
| Enterprise Multiple YoY | 7.223 % | |
| Enterprise Multiple IPRWA | high: 139.052 mean: 45.314 CMC: 32.003 median: 28.546 low: -159.016 |
|
| EV/R | 4.336 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.162 | |
| Asset To Liability | 1.861 | |
| Debt To Capital | 0.429 | |
| Debt To Assets | 0.347 | |
| Debt To Assets QoQ | -1.294 % | |
| Debt To Assets YoY | 80.604 % | |
| Debt To Assets IPRWA | high: 0.586 CMC: 0.347 mean: 0.121 median: 0.115 low: 0.001 |
|
| Debt To Equity | 0.75 | |
| Debt To Equity QoQ | -1.676 % | |
| Debt To Equity YoY | 128.723 % | |
| Debt To Equity IPRWA | high: 1.133 CMC: 0.75 mean: 0.199 median: 0.159 low: -0.023 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.749 | |
| Price To Book QoQ | 0.057 % | |
| Price To Book YoY | 35.186 % | |
| Price To Book IPRWA | high: 8.682 mean: 4.022 median: 3.043 CMC: 1.749 low: 0.026 |
|
| Price To Earnings (P/E) | 41.395 | |
| Price To Earnings QoQ | -30.825 % | |
| Price To Earnings YoY | -35.199 % | |
| Price To Earnings IPRWA | high: 139.141 median: 43.282 mean: 42.784 CMC: 41.395 low: -283.997 |
|
| PE/G Ratio | 0.842 | |
| Price To Sales (P/S) | 3.192 | |
| Price To Sales QoQ | -11.645 % | |
| Price To Sales YoY | 21.624 % | |
| Price To Sales IPRWA | high: 54.606 median: 17.532 mean: 15.667 CMC: 3.192 low: 1.513 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 39.495 | |
| Forward PE/G | 0.804 | |
| Forward P/S | 11.246 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.158 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.257 | |
| Asset Turnover Ratio QoQ | 13.142 % | |
| Asset Turnover Ratio YoY | -13.101 % | |
| Asset Turnover Ratio IPRWA | high: 0.461 CMC: 0.257 median: 0.169 mean: 0.166 low: 0.008 |
|
| Receivables Turnover | 1.86 | |
| Receivables Turnover Ratio QoQ | 8.122 % | |
| Receivables Turnover Ratio YoY | 3.332 % | |
| Receivables Turnover Ratio IPRWA | high: 17.276 median: 6.062 mean: 5.77 CMC: 1.86 low: 1.183 |
|
| Inventory Turnover | 1.751 | |
| Inventory Turnover Ratio QoQ | 5.164 % | |
| Inventory Turnover Ratio YoY | 0.976 % | |
| Inventory Turnover Ratio IPRWA | high: 1.94 CMC: 1.751 mean: 1.056 median: 0.977 low: 0.396 |
|
| Days Sales Outstanding (DSO) | 49.053 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 85.721 | |
| Cash Conversion Cycle Days QoQ | -1.531 % | |
| Cash Conversion Cycle Days YoY | -3.741 % | |
| Cash Conversion Cycle Days IPRWA | high: 209.579 CMC: 85.721 median: 80.674 mean: 68.251 low: -2255.903 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.258 | |
| CapEx To Revenue | -0.063 | |
| CapEx To Depreciation | -1.454 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 7.8 B | |
| Net Invested Capital | $ 7.9 B | |
| Invested Capital | $ 7.9 B | |
| Net Tangible Assets | $ 1.9 B | |
| Net Working Capital | $ 2.0 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.376 | |
| Current Ratio | 2.326 | |
| Current Ratio QoQ | -2.439 % | |
| Current Ratio YoY | -18.606 % | |
| Current Ratio IPRWA | high: 51.968 mean: 2.993 median: 2.568 CMC: 2.326 low: 0.343 |
|
| Quick Ratio | 1.538 | |
| Quick Ratio QoQ | -0.647 % | |
| Quick Ratio YoY | -23.185 % | |
| Quick Ratio IPRWA | high: 7.766 median: 1.948 mean: 1.851 CMC: 1.538 low: 0.255 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 10.106 | |
| Cost Of Debt | 1.034 % | |
| Interest Coverage Ratio | 5.697 | |
| Interest Coverage Ratio QoQ | 54.753 % | |
| Interest Coverage Ratio YoY | -48.585 % | |
| Interest Coverage Ratio IPRWA | high: 141.714 mean: 56.891 median: 46.139 CMC: 5.697 low: -212.703 |
|
| Operating Cash Flow Ratio | 0.095 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 23.923 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 7.808 | |
| Dividend Payout Ratio | 0.128 | |
| Dividend Rate | $ 0.20 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.455 % | |
| Revenue Growth | 16.474 % | |
| Revenue Growth QoQ | 2884.42 % | |
| Revenue Growth YoY | 8.811 % | |
| Revenue Growth IPRWA | high: 59.005 % CMC: 16.474 % mean: -1.373 % median: -4.079 % low: -61.626 % |
|
| Earnings Growth | 49.138 % | |
| Earnings Growth QoQ | -232.96 % | |
| Earnings Growth YoY | -73.384 % | |
| Earnings Growth IPRWA | high: 100.0 % CMC: 49.138 % mean: -9.974 % median: -27.586 % low: -120.0 % |
|
| MARGINS | ||
| Gross Margin | 18.328 % | |
| Gross Margin QoQ | 0.737 % | |
| Gross Margin YoY | 23.437 % | |
| Gross Margin IPRWA | high: 91.003 % median: 54.865 % mean: 41.161 % CMC: 18.328 % low: 0.249 % |
|
| EBIT Margin | 9.224 % | |
| EBIT Margin QoQ | 30.522 % | |
| EBIT Margin YoY | 54.791 % | |
| EBIT Margin IPRWA | high: 69.517 % median: 49.591 % mean: 35.525 % CMC: 9.224 % low: -61.713 % |
|
| Return On Sales (ROS) | 9.376 % | |
| Return On Sales QoQ | 29.182 % | |
| Return On Sales YoY | 57.342 % | |
| Return On Sales IPRWA | high: 60.141 % median: 50.999 % mean: 35.322 % CMC: 9.376 % low: -10.068 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 76.4 M | |
| Free Cash Flow Yield | 0.964 % | |
| Free Cash Flow Yield QoQ | 70.318 % | |
| Free Cash Flow Yield YoY | -21.306 % | |
| Free Cash Flow Yield IPRWA | high: 4.554 % median: 2.056 % mean: 1.303 % CMC: 0.964 % low: -7.827 % |
|
| Free Cash Growth | 75.394 % | |
| Free Cash Growth QoQ | -268.787 % | |
| Free Cash Growth YoY | -134.166 % | |
| Free Cash Growth IPRWA | high: 155.065 % CMC: 75.394 % mean: -16.311 % median: -20.991 % low: -214.37 % |
|
| Free Cash To Net Income | 0.442 | |
| Cash Flow Margin | 5.695 % | |
| Cash Flow To Earnings | 0.817 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.788 % | |
| Return On Assets QoQ | 80.789 % | |
| Return On Assets YoY | 47.16 % | |
| Return On Assets IPRWA | high: 11.146 % median: 3.819 % mean: 3.187 % CMC: 1.788 % low: -15.56 % |
|
| Return On Capital Employed (ROCE) | 2.757 % | |
| Return On Equity (ROE) | 0.038 | |
| Return On Equity QoQ | 80.862 % | |
| Return On Equity YoY | 88.172 % | |
| Return On Equity IPRWA | high: 0.117 median: 0.056 mean: 0.052 CMC: 0.038 low: -0.278 |
|
| DuPont ROE | 3.871 % | |
| Return On Invested Capital (ROIC) | 2.646 % | |
| Return On Invested Capital QoQ | 60.851 % | |
| Return On Invested Capital YoY | 57.594 % | |
| Return On Invested Capital IPRWA | high: 11.567 % mean: 5.36 % median: 5.116 % CMC: 2.646 % low: -8.735 % |
|