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WAG Payment Solutions Plc
(LSE:EWG)
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Select Model
Rating:49Neutral
Price Target:
107.00 p
▲(3.28% Upside)
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 Cash Generation
Free cash flow turned strongly positive in 2024 and 2025 after earlier volatility, indicating better cash conversion and internal funding capacity. If sustained, this can support operations and investment while reducing reliance on external financing over the next several quarters.
Negative Factors
Elevated Leverage
Debt exceeding equity leaves a relatively limited balance-sheet cushion if operating performance weakens. Although debt declined in 2025, equity also edged down, so leverage remains a constraint on financial flexibility and may limit capacity to fund investment or absorb setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Cash Generation
Free cash flow turned strongly positive in 2024 and 2025 after earlier volatility, indicating better cash conversion and internal funding capacity. If sustained, this can support operations and investment while reducing reliance on external financing over the next several quarters.
Read all positive factors
WAG Payment Solutions Plc (EWG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£676.31M
Dividend Yield1.48%
Average Volume (3M)296.57K
Price to Earnings (P/E)―
Beta (1Y)0.43
Revenue Growth15.98%
EPS Growth-131.06%
CountryUK
Employees2,000
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding695,792,200
10 Day Avg. Volume273,934
30 Day Avg. Volume296,571
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
£128.50Price Target Upside24.03% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.07
Revenue Forecast (FY)£377.54M
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 | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.51B | 2.31B | 2.24B | 2.09B | 2.37B | 1.65B |
| Gross Profit | 346.00M | 330.10M | 292.54M | 256.53M | 123.64M | 97.47M |
| EBITDA | 131.52M | 104.07M | 101.13M | 38.01M | 49.52M | 32.84M |
| Net Income | -3.28M | 2.01M | 2.70M | -45.64M | 16.63M | 9.15M |
Balance Sheet | ||||||
| Total Assets | 1.23B | 1.12B | 1.12B | 1.14B | 915.41M | 802.86M |
| Cash, Cash Equivalents and Short-Term Investments | 92.54M | 116.67M | 107.43M | 93.77M | 149.85M | 226.86M |
| Total Debt | 366.46M | 351.15M | 402.21M | 429.44M | 156.58M | 171.05M |
| Total Liabilities | 984.55M | 877.91M | 854.47M | 881.50M | 598.85M | 518.11M |
| Stockholders Equity | 247.41M | 243.53M | 261.94M | 256.45M | 312.28M | 275.86M |
Cash Flow | ||||||
| Free Cash Flow | 72.95M | 128.19M | 82.78M | -19.10M | 36.97M | -14.79M |
| Operating Cash Flow | 89.46M | 142.94M | 128.95M | 30.92M | 44.24M | -9.57M |
| Investing Cash Flow | -66.53M | -54.98M | -55.54M | -333.72M | -104.29M | -43.08M |
| Financing Cash Flow | -61.24M | -79.84M | -56.14M | 247.14M | -18.18M | 187.78M |
WAG Payment Solutions Plc Technical Analysis
Negative
103.60
Price Trends
104.18
Negative
105.32
Negative
107.64
Negative
Market Momentum
-2.11
Positive
27.65
Positive
6.61
Positive
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 103.6 is above the 20-day moving average (MA) of 102.36, below the 50-day MA of 104.18, and below the 200-day MA of 107.64, indicating a bearish trend. The MACD of -2.11 indicates Positive momentum. The RSI at 27.65 is Positive, neither overbought nor oversold. The STOCH value of 6.61 is Positive, 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | £317.06M | 35.11 | 8.63% | ― | 25.86% | 225.77% | |
77 Outperform | £163.52M | 14.82 | 104.64% | 5.37% | 1.57% | 1.80% | |
69 Neutral | £351.78M | 9.33 | 45.78% | 17.52% | 8.46% | 111.81% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | £47.13M | -105.65 | 31.19% | 9.58% | 17.23% | 29.17% | |
49 Neutral | £676.31M | -223.45 | -1.33% | 1.48% | 15.98% | -131.06% | |
49 Neutral | £50.08M | -8.81 | -32.65% | ― | -5.08% | -98.14% |
* Technology Sector Average
GB:EWG
WAG Payment Solutions Plc
94.10
-10.84
-10.33%
GB:BGO
Bango plc
66.00
-31.50
-32.31%
GB:PAY
Paypoint
597.00
-33.69
-5.34%
GB:PCIP
PCI PAL
65.50
14.00
27.18%
GB:BOKU
BOKU
112.00
-105.50
-48.51%
GB:FNX
Fonix Mobile PLC
167.50
-38.17
-18.56%
WAG Payment Solutions Plc Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Eurowag posts double-digit revenue growth and advances Eurowag Office platform
Positive
Sep 9, 2026
Eurowag reported a strong first half of 2026, with net revenue up 10.7% to €179.5 million and adjusted EBITDA rising 10.5% to €70.6 million, driven by broad-based growth in toll, energy and fleet management services. The number of acti...
Regulatory Filings and Compliance
Eurowag Confirms Total Voting Rights at 695.8 Million Shares
Neutral
Aug 28, 2026
Eurowag has disclosed that its total issued ordinary share capital now consists of 695,792,166 shares, each carrying one voting right, and it holds no shares in treasury. This figure establishes the current total number of voting rights in the com...
Regulatory Filings and Compliance
Eurowag Confirms Total Voting Rights at 695.8 Million Shares
Neutral
Jul 31, 2026
W.A.G. payment solutions plc, trading as Eurowag, operates in the payments and financial services sector, focusing on solutions for commercial transport and mobility businesses across Europe. The company provides integrated payment and technology ...
Other
Eurowag Director Sells £30m Stake in London Share Disposal
Neutral
Jul 22, 2026
Eurowag has disclosed that director Morgan Seigler, associated with TA Associates LP, carried out a substantial disposal of the company’s ordinary shares. The transaction involved the sale of 30 million shares at £1.00 each on 21 July 2...
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...
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.