Recent News
On July 28, 2026 the company published its 2025 sustainability report, outlining progress on emissions, energy efficiency and facility upgrades. Multiple Form 6‑K filings since late July disclose corporate governance and voting‑matter updates, including a July 30 filing and additional corporate notices in August and early September.
Technical Analysis
Directional indicators: ADX at 13.89 signals no dominant trend; DI+ at 25.95 experienced a peak and reversal, which reads as a bearish shift for directional strength while DI‑ at 22.28 decreasing reads as bullish — the net directional picture remains non‑trending but tilted toward short‑term support.
MACD: MACD sits at -0.06 above its signal line (-0.26), a bullish crossover despite the negative absolute MACD value; that crossover serves as an immediate bullish momentum signal for near‑term price action.
MRO: MRO at -4.69 places price below the regression target, implying upside potential toward the model target level; the MRO reading supports mean‑reversion toward fair value.
RSI: RSI at 48.76 with a peak-and-reversal reads as momentum cooling from a recent high and consolidating near neutral, consistent with a base‑building phase ahead of a directional move.
Price structure and volatility: Price closed at $33.11, near the 20‑day average $31.58 and below the 200‑day average $37.73; 20‑day Bollinger bands sit between $30.26 and $32.90, so recent price action occupies the upper half of the short‑term band and leaves room to retest the 200‑day average on a stronger move. Beta (42‑day 2.27; 52‑week 2.03) indicates above‑average sensitivity to market swings; average volume compares lower than 50‑ and 200‑day norms, suggesting muted conviction in recent moves.
Fundamental Analysis
Profitability and margins: EBIT of $458.06M and EBITDA of $1.309B deliver an EBIT margin of 14.83%, slightly below the industry peer mean of 15.06% and below the industry peer median of 16.20%. QoQ EBIT margin change registers -50.26% while YoY change registers +1.18%, indicating volatile quarterly margin compression against modest year‑over‑year improvement.
Revenue and growth: Reported total revenue equals $3.08795B with revenue growth at -8.29%. The provided QoQ and YoY growth figures show significant quarterly contraction but an overall decline year‑over‑year per the data supplied; operating leverage measures high, and operating margin sits at 14.22% with QoQ decline of -47.26%.
Cash flow and liquidity: Cash and short‑term investments total $14.93B with operating cash flow of $1.416B and free cash flow of $166.49M (free cash flow yield ~0.31%). The cash conversion ratio equals 29.97% and the cash ratio at 1.13 supports near‑term liquidity despite meaningful capex of $1.2498B.
Leverage and capital structure: Total debt $47.378B and net debt $24.217B produce debt‑to‑EBITDA of 36.18 and debt‑to‑equity of 161.86%, indicative of elevated leverage relative to profitability. Debt to assets sits at 55.23% but shows slight QoQ and YoY reductions in leverage measures.
Valuation multiples: PE about 9.62x with forward PE elevated due to a low forward EPS; price‑to‑book at 1.86x sits below the industry peer mean of 2.81x and below the industry peer median of 3.55x, while price‑to‑sales at 17.62x stands well above the industry peer mean of 4.49x. Enterprise multiple measures near 66.33, reflecting high enterprise value relative to operating profit. WMDST values the stock as over‑valued given the mix of stretched revenue multiples, elevated leverage, and compressed free cash flow yield.
Earnings and surprises: Reported EPS $3.53 versus an estimate of -$0.34 produced an EPS surprise of approximately +1,138%, reflecting the large positive divergence from the estimate; include this within income metrics while noting operating cash and EBITDA trends above.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-13 |
| NEXT REPORT DATE: | 2026-11-12 |
| CASH FLOW | Begin Period Cash Flow | $ 14.9 B |
| Operating Cash Flow | $ 1.4 B | |
| Capital Expenditures | $ -1.25 B | |
| Change In Working Capital | $ 644.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 104.3 M | |
| End Period Cash Flow | $ 15.0 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 3.1 B | |
| Forward Revenue | $ 39.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 2.4 B | |
| Depreciation | $ 851.4 M | |
| Depreciation and Amortization | $ 851.4 M | |
| Research and Development | $ 7.1 M | |
| Total Operating Expenses | $ 2.6 B | |
| PROFITABILITY | ||
| Gross Profit | $ 664.2 M | |
| EBITDA | $ 1.3 B | |
| EBIT | $ 458.1 M | |
| Operating Income | $ 439.2 M | |
| Interest Income | — | |
| Interest Expense | $ 366.8 M | |
| Net Interest Income | $ -366.82 M | |
| Income Before Tax | $ 91.2 M | |
| Tax Provision | $ 213.5 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ 835.2 M | |
| Net Income From Continuing Operations | $ 837.6 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.34 | |
| EPS Actual | $ 3.53 | |
| EPS Difference | $ 3.87 | |
| EPS Surprise | 1138.235 % | |
| Forward EPS | $ 0.03 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 85.8 B | |
| Intangible Assets | $ 5.4 B | |
| Net Tangible Assets | $ 26.9 B | |
| Total Current Assets | $ 23.5 B | |
| Cash and Short-Term Investments | $ 14.9 B | |
| Cash | $ 14.9 B | |
| Net Receivables | $ 2.9 B | |
| Inventory | — | |
| Long-Term Investments | $ 3.2 B | |
| LIABILITIES | ||
| Accounts Payable | $ 2.4 B | |
| Short-Term Debt | $ 7.5 B | |
| Total Current Liabilities | $ 13.2 B | |
| Net Debt | $ 24.2 B | |
| Total Debt | $ 47.4 B | |
| Total Liabilities | $ 52.5 B | |
| EQUITY | ||
| Total Equity | $ 29.3 B | |
| Retained Earnings | $ -1.61 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 18.26 | |
| Shares Outstanding | 1.603 B | |
| Revenue Per-Share | $ 1.93 | |
| VALUATION | Market Capitalization | $ 54.4 B |
| Enterprise Value | $ 86.9 B | |
| Enterprise Multiple | 66.33 | |
| Enterprise Multiple QoQ | 21.123 % | |
| Enterprise Multiple YoY | 0.558 % | |
| Enterprise Multiple IPRWA | high: 84.669 GDS: 66.33 median: 31.599 mean: 27.748 low: -20.17 |
|
| EV/R | 28.128 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.931 | |
| Asset To Liability | 1.633 | |
| Debt To Capital | 0.618 | |
| Debt To Assets | 0.552 | |
| Debt To Assets QoQ | -1.53 % | |
| Debt To Assets YoY | -8.497 % | |
| Debt To Assets IPRWA | high: 0.987 GDS: 0.552 mean: 0.231 median: 0.122 low: 0.004 |
|
| Debt To Equity | 1.619 | |
| Debt To Equity QoQ | -2.506 % | |
| Debt To Equity YoY | -17.373 % | |
| Debt To Equity IPRWA | high: 4.607 GDS: 1.619 mean: 0.578 median: 0.245 low: -2.553 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.859 | |
| Price To Book QoQ | -22.514 % | |
| Price To Book YoY | -9.061 % | |
| Price To Book IPRWA | high: 7.042 median: 3.552 mean: 2.806 GDS: 1.859 low: -0.896 |
|
| Price To Earnings (P/E) | 9.615 | |
| Price To Earnings QoQ | 95.546 % | |
| Price To Earnings YoY | -113.742 % | |
| Price To Earnings IPRWA | high: 172.289 median: 48.462 mean: 42.179 GDS: 9.615 low: -57.023 |
|
| PE/G Ratio | -0.162 | |
| Price To Sales (P/S) | 17.62 | |
| Price To Sales QoQ | -12.985 % | |
| Price To Sales YoY | 2.458 % | |
| Price To Sales IPRWA | GDS: 17.62 high: 9.198 median: 4.971 mean: 4.486 low: 0.004 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 4245.466 | |
| Forward PE/G | -71.725 | |
| Forward P/S | 4197.979 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 6.56 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.036 | |
| Asset Turnover Ratio QoQ | -11.406 % | |
| Asset Turnover Ratio YoY | -4.342 % | |
| Asset Turnover Ratio IPRWA | high: 0.542 median: 0.265 mean: 0.255 low: 0.056 GDS: 0.036 |
|
| Receivables Turnover | 1.063 | |
| Receivables Turnover Ratio QoQ | -14.353 % | |
| Receivables Turnover Ratio YoY | 9.413 % | |
| Receivables Turnover Ratio IPRWA | high: 4.77 mean: 1.609 median: 1.312 GDS: 1.063 low: 0.337 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 85.827 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -1.987 | |
| Cash Conversion Cycle Days QoQ | -18.611 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 88.088 median: 44.833 mean: 41.496 GDS: -1.987 low: -71.928 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.3 | |
| CapEx To Revenue | -0.405 | |
| CapEx To Depreciation | -1.468 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 63.9 B | |
| Net Invested Capital | $ 68.4 B | |
| Invested Capital | $ 68.4 B | |
| Net Tangible Assets | $ 26.9 B | |
| Net Working Capital | $ 10.3 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.135 | |
| Current Ratio | 1.783 | |
| Current Ratio QoQ | -4.444 % | |
| Current Ratio YoY | -10.692 % | |
| Current Ratio IPRWA | high: 2.947 GDS: 1.783 mean: 1.444 median: 1.339 low: 0.179 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 36.181 | |
| Cost Of Debt | 0.465 % | |
| Interest Coverage Ratio | 1.249 | |
| Interest Coverage Ratio QoQ | -52.764 % | |
| Interest Coverage Ratio YoY | 18.937 % | |
| Interest Coverage Ratio IPRWA | high: 78.183 median: 44.761 mean: 31.259 GDS: 1.249 low: -11.726 |
|
| Operating Cash Flow Ratio | 0.173 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 87.814 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.966 % | |
| Revenue Growth | -8.29 % | |
| Revenue Growth QoQ | -154.382 % | |
| Revenue Growth YoY | -227.44 % | |
| Revenue Growth IPRWA | high: 19.845 % mean: 3.677 % median: 3.655 % low: -8.199 % GDS: -8.29 % |
|
| Earnings Growth | -59.191 % | |
| Earnings Growth QoQ | -225.647 % | |
| Earnings Growth YoY | -47.04 % | |
| Earnings Growth IPRWA | high: 57.895 % median: 22.558 % mean: 9.339 % GDS: -59.191 % low: -93.995 % |
|
| MARGINS | ||
| Gross Margin | 21.51 % | |
| Gross Margin QoQ | -35.992 % | |
| Gross Margin YoY | -9.447 % | |
| Gross Margin IPRWA | high: 76.371 % median: 32.772 % mean: 31.444 % GDS: 21.51 % low: 2.554 % |
|
| EBIT Margin | 14.834 % | |
| EBIT Margin QoQ | -50.26 % | |
| EBIT Margin YoY | 1.18 % | |
| EBIT Margin IPRWA | high: 22.488 % median: 16.201 % mean: 15.062 % GDS: 14.834 % low: -12.988 % |
|
| Return On Sales (ROS) | 14.222 % | |
| Return On Sales QoQ | -47.26 % | |
| Return On Sales YoY | -0.511 % | |
| Return On Sales IPRWA | high: 22.63 % median: 16.257 % mean: 14.773 % GDS: 14.222 % low: -7.828 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 166.5 M | |
| Free Cash Flow Yield | 0.306 % | |
| Free Cash Flow Yield QoQ | -164.693 % | |
| Free Cash Flow Yield YoY | -138.202 % | |
| Free Cash Flow Yield IPRWA | high: 12.77 % median: 3.178 % mean: 2.12 % GDS: 0.306 % low: -16.523 % |
|
| Free Cash Growth | -151.649 % | |
| Free Cash Growth QoQ | -106.672 % | |
| Free Cash Growth YoY | -304.005 % | |
| Free Cash Growth IPRWA | high: 413.83 % mean: 19.57 % median: -1.853 % GDS: -151.649 % low: -410.245 % |
|
| Free Cash To Net Income | 0.199 | |
| Cash Flow Margin | 73.564 % | |
| Cash Flow To Earnings | 2.72 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 0.983 % | |
| Return On Assets QoQ | -69.548 % | |
| Return On Assets YoY | -1134.737 % | |
| Return On Assets IPRWA | high: 5.083 % median: 2.885 % mean: 2.685 % GDS: 0.983 % low: -5.649 % |
|
| Return On Capital Employed (ROCE) | 0.631 % | |
| Return On Equity (ROE) | 0.029 | |
| Return On Equity QoQ | -69.385 % | |
| Return On Equity YoY | -1063.851 % | |
| Return On Equity IPRWA | high: 0.165 median: 0.073 mean: 0.058 GDS: 0.029 low: -0.144 |
|
| DuPont ROE | 2.896 % | |
| Return On Invested Capital (ROIC) | 0.402 % | |
| Return On Invested Capital QoQ | -67.607 % | |
| Return On Invested Capital YoY | -20.71 % | |
| Return On Invested Capital IPRWA | high: 12.216 % median: 5.486 % mean: 5.056 % GDS: 0.402 % low: -2.122 % |
|