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WAG Payment Solutions Plc
(LSE:EWG)
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Rating:49Neutral
Price Target:
97.00 p
▼(-19.83% Downside)
Action:Reiterated
Date:07/18/26
The score is held back primarily by very high valuation (P/E ~319.7) and weak technical positioning (price below key moving averages with negative MACD). Financial performance is mixed: recent cash flow improvement is a clear positive, but thin/volatile profitability and elevated leverage keep the overall risk profile moderate.
Positive Factors
Improving free cash flow
Operating and free cash flow strengthened materially across 2024–2025, producing durable internal funding. Stronger cash conversion reduces near-term refinancing risk, supports reinvestment or debt paydown, and underpins the firm’s ability to fund operations and selective growth over the next several quarters.
Negative Factors
Elevated leverage
Leverage remains elevated despite modest deleveraging in 2025, leaving limited balance sheet cushion. High debt relative to equity constrains financial flexibility, increases sensitivity to cash-flow shocks or rising rates, and limits the company’s ability to invest or absorb setbacks without further refinancing.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving free cash flow
Operating and free cash flow strengthened materially across 2024–2025, producing durable internal funding. Stronger cash conversion reduces near-term refinancing risk, supports reinvestment or debt paydown, and underpins the firm’s ability to fund operations and selective growth over the next several quarters.
Read all positive factors
WAG Payment Solutions Plc (EWG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£751.41M
Dividend YieldN/A
Average Volume (3M)2.51M
Price to Earnings (P/E)319.7
Beta (1Y)0.23
Revenue Growth4.39%
EPS Growth-33.33%
CountryUK
Employees2,000
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)<0.01
Shares Outstanding695,745,360
10 Day Avg. Volume470,372
30 Day Avg. Volume2,513,010
Financial Highlights & Ratios
PEG Ratio-16.19
Price to Book (P/B)3.42
Price to Sales (P/S)0.36
P/FCF Ratio6.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£132.00Price Target Upside9.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.07
Revenue Forecast (FY)£363.83M
WAG Payment Solutions Plc Business Overview & Revenue Model
Company Description
W.A.G payment solutions plc operates a comprehensive, integrated platform for payments and mobility, primarily serving the commercial road transportation industry across Europe. Its services encompass a wide range of fuel and energy solutions, inc...
How the Company Makes Money
WAG Payment Solutions Plc makes money primarily by facilitating and managing business-to-business payments related to commercial road mobility (most notably fuel purchasing) and charging fees and margins for those services. Key revenue streams typ...
WAG Payment Solutions Plc Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.31B | 2.24B | 2.09B | 2.37B | 1.65B |
| Gross Profit | 330.10M | 292.54M | 256.53M | 123.64M | 97.47M |
| EBITDA | 104.07M | 101.13M | 38.01M | 49.52M | 32.84M |
| Net Income | 2.01M | 2.70M | -45.64M | 16.63M | 9.15M |
Balance Sheet | |||||
| Total Assets | 1.12B | 1.12B | 1.14B | 915.41M | 802.86M |
| Cash, Cash Equivalents and Short-Term Investments | 116.67M | 107.43M | 93.77M | 149.85M | 226.86M |
| Total Debt | 351.15M | 402.21M | 429.44M | 156.58M | 171.05M |
| Total Liabilities | 877.91M | 854.47M | 881.50M | 598.85M | 518.11M |
| Stockholders Equity | 243.53M | 261.94M | 256.45M | 312.28M | 275.86M |
Cash Flow | |||||
| Free Cash Flow | 128.19M | 82.78M | -19.10M | 36.97M | -14.79M |
| Operating Cash Flow | 142.94M | 128.95M | 30.92M | 44.24M | -9.57M |
| Investing Cash Flow | -54.98M | -55.54M | -333.72M | -104.29M | -43.08M |
| Financing Cash Flow | -79.84M | -56.14M | 247.14M | -18.18M | 187.78M |
WAG Payment Solutions Plc Technical Analysis
Negative
121.00
Price Trends
104.69
Negative
106.96
Negative
105.23
Negative
Market Momentum
-0.18
Positive
39.56
Neutral
25.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EWG, the sentiment is Negative. The current price of 121 is above the 20-day moving average (MA) of 104.06, above the 50-day MA of 104.69, and above the 200-day MA of 105.23, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 39.56 is Neutral, neither overbought nor oversold. The STOCH value of 25.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:EWG.
WAG Payment Solutions Plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £155.57M | 13.81 | 104.64% | 7.02% | 1.57% | 1.80% | |
69 Neutral | £381.14M | 9.70 | 45.78% | 20.30% | 8.46% | 111.81% | |
63 Neutral | £287.77M | 30.58 | 8.63% | ― | 25.86% | 225.77% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | £31.52M | -70.16 | 31.19% | ― | 17.23% | 29.17% | |
51 Neutral | £53.17M | -8.97 | -32.65% | ― | -5.08% | -98.14% | |
49 Neutral | £751.41M | 319.68 | 4.01% | ― | 4.39% | -33.33% |
* Technology Sector Average
GB:EWG
WAG Payment Solutions Plc
97.70
10.99
12.67%
GB:BGO
Bango plc
67.50
-18.00
-21.05%
GB:PAY
Paypoint
621.00
-99.80
-13.85%
GB:PCIP
PCI PAL
43.50
-2.50
-5.43%
GB:BOKU
BOKU
98.00
-112.00
-53.33%
GB:FNX
Fonix Mobile PLC
156.00
-55.37
-26.20%
WAG Payment Solutions Plc Corporate Events
Regulatory Filings and Compliance
Eurowag Confirms Total Voting Rights at 695.7 Million Shares
Neutral
Jun 30, 2026
Eurowag has confirmed that, as of 30 June 2026, its total issued ordinary share capital stands at 695,745,369 shares, each carrying one voting right and with no shares held in treasury. This disclosure clarifies the total number of voting rights i...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
Eurowag Seeks Block Listing of Six Million Shares for Employee Incentive Plans
Positive
Jun 25, 2026
Eurowag has applied to the Financial Conduct Authority and London Stock Exchange for a block listing of six million ordinary shares, to be admitted to the Official List and traded on the LSE’s main market. The new shares, expected to be admi...
Other
Eurowag Director Steve Dryden Buys Shares on Market
Positive
Jun 1, 2026
Eurowag director Steve Dryden has purchased 16,758 ordinary shares of W.A.G payment solutions plc at a price of £1.13 per share on 1 June 2026. The on-market transaction on the London Stock Exchange increases insider ownership and may be view...
Regulatory Filings and Compliance
Eurowag Confirms Total Voting Rights at 692.6 Million Shares
Neutral
May 29, 2026
Eurowag announced that its total issued ordinary share capital as of 29 May 2026 stands at 692,588,380 shares, each with a nominal value of £0.01 and carrying one voting right. The company confirmed it holds no treasury shares, meaning the to...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
Eurowag Investors Back All AGM Resolutions and Approve Special Dividend
Positive
May 27, 2026
Shareholders of Eurowag approved all resolutions at the company’s 2026 annual general meeting, including receipt of the annual report, the directors’ remuneration report and a special dividend of 1.5p per share. Investors also backed t...
Regulatory Filings and Compliance
Eurowag Confirms 692.5 Million Total Voting Rights After Share Capital Update
Neutral
May 1, 2026
Eurowag has confirmed that its total issued ordinary share capital as of 30 April 2026 stands at 692,507,322 shares, each with a nominal value of £0.01 and carrying one voting right. The company holds no shares in treasury, meaning all issued...
Business Operations and StrategyRegulatory Filings and Compliance
Eurowag Reports Latest Block Listing Return for Employee Share Schemes
Neutral
May 1, 2026
Eurowag has reported its latest block listing six-monthly return for its Employee Share Plan and Long Term Incentive Plan, covering the period from 31 October 2025 to 30 April 2026. During this period, 79,175 shares were issued or allotted under t...
Business Operations and StrategyExecutive/Board Changes
Eurowag Grants Deferred Bonus Awards to CEO and CFO Aligned With 2025 Pay Policy
Positive
Apr 24, 2026
Eurowag has granted deferred bonus awards to chief executive Martin Vohánka and chief financial officer Oskar Zahn under its Deferred Bonus Share Plan, reflecting the deferral of one-third of their 2025 annual bonuses in line with the directo...
Other
Eurowag Director Linda Myers Increases Stake With Share Purchase
Positive
Apr 23, 2026
Eurowag disclosed that director Linda Myers purchased 59,238 ordinary shares in the company on 21 April 2026. The transaction, executed on the London Stock Exchange at a price of £1.178661 per share, increases her equity stake and signals man...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.