WisdomTree, Inc. (WT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-25.0%

$15.24

vs $20.33 price

Levered DCF

$15.99

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.8

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.63×	30.88×	10.5×	17.58×	19.74×	-21.4×	-58.38×	28.91×
P/B	4.14×	3.8×	1.85×	2.55×	3.27×	2.99×	2×	2.94×
P/S	3.47×	3.55×	2.87×	2.59×	2.89×	3.18×	2.76×	3.84×
EV / EBITDA	12.79×	15.77×	8.42×	17.29×	14.77×	-42.59×	55.11×	19.41×
Gross margin	72.1%	71.6%	48.2%	46.0%	51.7%	47.4%	47.3%	52.1%
Operating margin	35.3%	32.1%	25.1%	19.9%	29.3%	22.0%	20.1%	22.4%
Net margin	22.1%	15.6%	29.4%	16.8%	16.4%	-14.3%	-3.9%	13.4%
Current ratio	1.75×	2.92×	2.23×	1.98×	3.63×	1.92×	1.56×	1.88×
Debt / equity	2.31×	1.28×	0.51×	1.06×	1.18×	0.7×	0.54×	0.54×
Interest coverage	5.73×	7.26×	5.74×	4.02×	7.22×	5.7×	4.76×	7.7×
Dividend yield	1.0%	1.3%	2.0%	2.5%	2.2%	2.5%	2.8%	1.8%
Payout ratio	15.9%	28.5%	19.6%	38.2%	39.1%	-56.4%	-195.5%	52.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	26.4%	16.7%	18.9%	16.6%	18.5%	-13.4%	-2.8%	10.2%
Return on invested capital	9.7%	10.4%	9.0%	6.4%	8.2%	6.7%	-537.6%	5.2%
Return on assets	7.2%	6.5%	10.9%	4.9%	4.8%	-4.0%	-1.1%	4.1%
Free cash flow yield	8.7%	7.5%	8.3%	7.0%	8.5%	5.9%	6.4%	3.5%
Earnings yield	6.4%	4.4%	10.2%	6.5%	5.7%	-4.5%	-1.4%	3.5%
Enterprise value	$2.4B	$1.9B	$1.1B	$970M	$1.1B	$909.2M	$858.5M	$1.2B
Net debt / EBITDA	3.5×	2.83×	1.07×	3.4×	2.49×	-5.33×	7.94×	1.94×
Cash conversion cycle (days)	-39	-28	1	17	15	-40	-34	-39