FY26 In Line, FY27 Guidance Endorses Consensus Expectations

研报英文原文证据摘录

FY26 In Line, FY27 Guidance Endorses Consensus Expectations

Update

June 25, 2026 10:07 PM GMT

Morgan Stanley & Co. LLCMWise PLC | Europe Adam Wood

Equity Analyst

FY26 In Line, FY27 Guidance Adam.Wood@morganstanley.comMorgan Stanley & Co. International plc+ +1 212 761-3656

Mark Hyatt

Equity AnalystEndorses Consensus Mark.Hyatt@morganstanley.com +44 20 7677-3663

Wise PLC (WISEa.L, WISE LN)Expectations

Technology - Payments | United Kingdom

Stock Rating Equal-weight

Reaction to earnings Industry View In-Line

Price target 1,185p

Unchanged In-line Largely unchanged Shr price, close (Jun 24, 2026) 839p

Impact to our thesis Financial results versus consensus Direction of next 12-month Mkt cap, curr (mm) £8,937

consensus EPS

52-Week Range 1,164-754p

Source: Company data, Morgan Stanley Research

Key Takeaways

FY26 results broadly in line with preliminary release. Income before tax comes in

1% above consensus. New buyback announced.

Wise continues to expect 15-20% CAGR net revenue growth over the medium

term with the income before tax margin between 20-25% nearer term.

For FY27, Wise expects net revenue growth in cc to come in around the middle of

the range, with margins around the top of the 20-25% range.

This is broadly in line with consensus expectations, although we note room for

minor revisions to margin expectations.

Overall, with FY26 results in line and FY27 broadly endorsing current

expectations, plus a buyback, we expect this to be enough to support the shares.

Another solid year - FY26 broadly as expected: With the key top line figures and

KPIs already released in Wise's 4Q26 trading update (see our first take here and

Wise's implied preliminary FY26 results summarised in USD terms here), investor

focus today is likely on profitability and the outlook for FY27.