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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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Solve the discounted cash flow backwards, then stress-test the assumptions.
A reverse DCF cannot be solved for WSE: its net cash ($27.5B) exceeds its market value, so enterprise value is negative. Discounting a positive cash-flow stream always gives a positive number, so no growth rate reaches that target. This is common for banks, brokers and payment companies, where customer balances sit in the cash line and are not the company's to spend.
2-stage DCF · 0.98B shares (market data) · net debt -$27.5B
mean 36.2% · volatility σ 5% · implied rate exceeded in 2/2 yrs
Central path = implied -60.0%/yr growth; shaded band = ±1σ (5%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2026
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue | $1.89B 100.0% | $1.55B 100.0% | $1.32B 100.0% |
| Selling, General & Admin | $381.9M 20.2% | $273.4M 17.7% | $194.7M 14.7% |
| Total Operating Expenses | $1.91B 101.0% | $1.37B 88.6% | $1.13B 85.1% |
| Operating Income | $590.7M 31.2% | $728.2M 47.1% | $650.1M 49.1% |
| Interest Expense | $19.5M 1.0% | $15.0M 1.0% | $24.1M 1.8% |
| Other Income (Expense), net | $69.7M 3.7% | -$10.7M -0.7% | $6.6M 0.5% |
| Pretax Income | $660.4M 34.9% | $717.5M 46.4% | $656.7M 49.6% |
| Income Tax Expense | $161.7M 8.5% | $167.2M 10.8% | $155.2M 11.7% |
| Net Income | $498.7M 26.3% | $550.3M 35.6% | $501.5M 37.9% |
| Per Share | |||
| EPS (Basic) | $48.92 | $53.31 | $48.57 |
| EPS (Diluted) | $48.43 | $52.63 | $47.81 |
| Weighted Avg Shares (Basic) | 1.02B | 1.03B | 1.03B |
| Weighted Avg Shares (Diluted) | 1.03B | 1.05B | 1.05B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
3/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $7.5B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 3 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 22%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 3 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~5.8% on $335M of debt.
Cash of $27.8B fully covers short-term debt of $6M.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| SG&A | 14.7 | 17.7 | 20.2 |
| Operating Income | 49.1 | 47.1 | 31.2 |
| Income Tax | 11.7 | 10.8 | 8.5 |
| Net Income | 37.9 | 35.6 | 26.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on WSE: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.