WiseTech Global Limited

WTCHF

Software - Application · Technology

Price

$24.33

-0.62 (-2.48%)

Market Cap

$8.18B

Exchange

Other OTC

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Share count rising — dilution

+2.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 325.0M (2021) → 334.4M (2025)

WiseTech Global is an Australian software company that makes tools to help logistics and freight companies move goods around the world. Its main product is CargoWise, a platform used by freight forwarders, customs brokers, and shipping companies to manage shipments, customs paperwork, and warehouse operations all in one place. The company is one of the largest providers of logistics execution software globally.

WiseTech earns money through software subscriptions and transaction-based fees, meaning customers pay more as they process more shipments. The company is headquartered in Sydney, Australia, but CargoWise is used in over 160 countries, giving it a truly global footprint. Its moat comes from how deeply embedded CargoWise is in customers' daily operations — switching to a competitor is costly and disruptive. The key growth driver is continued expansion of CargoWise's features and winning larger global freight forwarders, though the company faces risk from slowing global trade volumes and increasing competition from enterprise software giants.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-2.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$282M/ year

↑ Rising (+10% vs prior year)

23.8% of revenue

1.6x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

43.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$256M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Heavy R&D investment

WiseTech Global Limited is putting 24% of revenue into R&D and that number is rising. That's 1.6x the sector average. And they're generating enough cash to self-fund it.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

87.3%

Premium pricing power — 87.3% gross margin

Operating Margin

35.6%

Excellent — 35.6% operating margin

ROCE

8.0%

Below par — 8.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+67.0%

Fast-growing sales (67.0% YoY)

EPS YoY

+25.0%

Earnings growing fast (25.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

178%

Turns 178% of profit into real cash

FCF Margin

34.1%

Converts sales into free cash efficiently (34.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.04

Conservative — low debt load (0.04)

Interest Cover

8.07x

Comfortably covers interest (8.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

14.3x

Attractive valuation — P/E 14.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+1.6

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield

0.63%

Small dividend — 0.63% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+42.1%

Dividend growing fast (42.1% YoY)

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