Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

WiseTech Global Limited (WTC.AX)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$38.80 - $97.49$58.33
Multi-Stage$26.87 - $29.36$28.09
Blended Fair Value$43.21
Current Price$109.03
Upside-60.37%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS42.01%41.29%0.190.160.120.080.040.030.030.020.010.01
YoY Growth--21.44%26.92%56.98%100.76%18.92%23.86%48.48%105.52%-22.97%88.58%
Dividend Yield--0.18%0.17%0.16%0.21%0.12%0.17%0.09%0.12%0.13%0.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)577.99
(-) Cash Dividends Paid (M)118.86
(=) Cash Retained (M)459.13
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)115.6072.2543.35
Cash Retained (M)459.13459.13459.13
(-) Cash Required (M)-115.60-72.25-43.35
(=) Excess Retained (M)343.53386.88415.78
(/) Shares Outstanding (M)333.80333.80333.80
(=) Excess Retained per Share1.031.161.25
LTM Dividend per Share0.360.360.36
(+) Excess Retained per Share1.031.161.25
(=) Adjusted Dividend1.391.521.60
WACC / Discount Rate9.27%9.27%9.27%
Growth Rate5.50%6.50%7.50%
Fair Value$38.80$58.33$97.49
Upside / Downside-64.41%-46.50%-10.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)577.99615.56655.57698.18743.56791.90815.65
Payout Ratio20.57%34.45%48.34%62.23%76.11%90.00%92.50%
Projected Dividends (M)118.86212.07316.90434.45565.95712.71754.48

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.27%9.27%9.27%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)192.27194.09195.91
Year 2 PV (M)260.47265.43270.44
Year 3 PV (M)323.74333.03342.50
Year 4 PV (M)382.34397.04412.16
Year 5 PV (M)436.51457.60479.49
PV of Terminal Value (M)7,374.497,730.688,100.51
Equity Value (M)8,969.819,377.879,801.01
Shares Outstanding (M)333.80333.80333.80
Fair Value$26.87$28.09$29.36
Upside / Downside-75.35%-74.23%-73.07%

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