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$42.67 - $120.84$66.54
Multi-Stage$28.56 - $31.22$29.87
Blended Fair Value$48.21
Current Price$109.03
Upside-55.79%
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 Rate8.92%8.92%8.92%
Growth Rate5.50%6.50%7.50%
Fair Value$42.67$66.54$120.84
Upside / Downside-60.86%-38.97%10.83%

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 Rate8.92%8.92%8.92%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)192.87194.70196.52
Year 2 PV (M)262.10267.09272.13
Year 3 PV (M)326.79336.17345.73
Year 4 PV (M)387.15402.04417.35
Year 5 PV (M)443.39464.81487.05
PV of Terminal Value (M)7,922.288,304.938,702.22
Equity Value (M)9,534.599,969.7410,421.01
Shares Outstanding (M)333.80333.80333.80
Fair Value$28.56$29.87$31.22
Upside / Downside-73.80%-72.61%-71.37%

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