WiseTech Global Ltd

WTC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$124.00	Mzbsk	Pyygcsngr

WiseTech Earnings: The Kingmaker Takes It All

Roy Van Keulen

Aug 21, 2024

We raise our fair value estimate for narrow-moat WiseTech by 15% to AUD 115 per share with the full-year results. Guidance for fiscal 2025 is strong as heavy product design and development investment in recent years starts to bear fruit. At this stage, the question of WiseTech’s terminal market share seems mostly settled to us—we see a winner-take-all, or winner-take-most dynamic. The key remaining question is the terminal market size. Given the strong guidance for fiscal 2025, we increase our terminal market size assumptions. At current prices, WiseTech shares screen as slightly undervalued.

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WiseTech Global Ltd

WiseTech Earnings: The Kingmaker Takes It All

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