WiseTech Global (ASX:WTC) Share Price on 2 December 2025: Governance Shock, New Pricing Model and 2026 Outlook

Updated: 2 December 2025

WiseTech Global Ltd (ASX:WTC) has just closed another volatile trading day with its share price sitting around A$70.25, down roughly 1–2% on the session and still more than 40% below its 2025 peak above A$130. ^[1]

Yet under the surface of that bruised share price sits a logistics software giant posting double‑digit revenue growth, rolling out a new AI‑heavy commercial model for its CargoWise platform, and digesting a major acquisition – all while facing a high‑stakes regulatory probe into founder Richard White’s share trading and a messy governance saga.

This piece pulls together the latest share price moves, news, broker forecasts and valuation views as of 2 December 2025.

Where the WiseTech Global share price stands on 2 December 2025

According to ASX price data, WiseTech shares traded between A$69.29 and A$71.75 on Monday, 2 December 2025, finishing the session at about A$70.25, a fall of roughly 1.2% on the day. ^[2]

Key trading and valuation snapshots from recent data:

Current price (intraday around 2:30pm AEDT): ~A$70.01 ^[3]
52‑week range: ~A$61.49 (low) to ~A$133.92 (high) ^[4]
Market capitalisation: about A$24 billion ^[5]
Price/earnings ratio: ~77x
Price/sales ratio: ~31x
Dividend yield: around 0.2% ^[6]

Across the last twelve months, multiple outlets estimate WiseTech is down roughly 42–46% from its 2025 highs, putting it in the “de‑rated former market darling” bucket alongside other once‑expensive ASX blue‑chip growth names. ^[7]

Despite the sell‑off, the stock remains priced at a significant premium to the broader software sector on conventional valuation metrics. ^[8]

How we got here: raids, board upheaval and shareholder revolt

The key reason WiseTech’s share price has been punished in 2024–25 is not collapsing earnings, but governance and regulatory risk.

AFP & ASIC raid on WiseTech’s Sydney office

On 27–28 October 2025, the Australian Federal Police (AFP) and the Australian Securities and Investments Commission (ASIC) executed a search warrant at WiseTech’s Sydney headquarters. ^[9]

Regulators are investigating alleged trading in WiseTech shares by co‑founder Richard White and three employees in late 2024 and early 2025, a period overlapping with what would typically be “blackout” windows around results. ^[10]
WiseTech’s ASX announcement stressed that no charges have been laid and no allegations have been made against the company itself, and that it intends to fully cooperate. ^[11]
The ABC reported that WiseTech shares slumped about 17% intraday to ~A$70.65 when news of the raid broke. ^[12]

The raid crystallised investor concerns around White’s governance track record and turbo‑charged an already‑underway valuation reset.

Earlier controversies: personal conduct, disclosure and director exodus

The October raid did not come out of nowhere. Through 2024–25, WiseTech has been living through a slow‑burn governance drama:

October 2024: White stepped down as CEO after media allegations relating to his personal life, including payments to a past sexual partner. ^[13]
February 2025: He returned as executive chair, triggering unease among institutional investors and a wave of director resignations. ^[14]
March 2025: An internal review found that White had provided “inaccurate, incomplete and misleading” information to the board about a personal relationship; he later acknowledged his conduct and the company updated its code of conduct. ^[15]
Around the same time, Australia’s largest pension fund, AustralianSuper, sold its entire ~1.9% stake (roughly A$580m), explicitly citing governance concerns about the leadership transition as the reason for the exit. ^[16]

By late 2025, WiseTech’s corporate governance statement and AGM papers show a board working to claw its way back toward ASX best‑practice – appointing new independent non‑executive directors and committing to restore an independent majority by the end of the year – but the damage to sentiment has been considerable. TS2 Tech+1

AGM drama and shareholder “strike”

At the 21 November 2025 AGM, shareholders delivered a first strike against WiseTech’s remuneration report, even as the share price bounced on the day. Coverage from local financial press described White becoming emotional and even shedding tears in front of staff and investors as he addressed the scandals and ongoing probe. ^[17]

A second strike at a future AGM could trigger a board spill – a risk not lost on investors trying to model governance stability into multi‑year cash‑flow forecasts.

Under the hood: FY25 results show robust growth and fat margins

While the headlines have been dominated by raids and resignations, the FY25 numbers themselves look strong.

WiseTech’s FY25 financial report (year ended 30 June 2025, now reported in USD) shows: ^[18]

Revenue: USD 778.7m, up 14% on FY24 (USD 683.7m)
Statutory NPAT: USD 200.7m, up 17%
Underlying NPAT: USD 241.8m, up 30%
Recurring revenue:98% of group revenue, up from 97%
R&D spend: USD 263.8m, roughly 34% of revenue, highlighting the “all‑in on product” approach
Geographic mix: Revenue roughly split between the Americas (36%), EMEA (35%) and Asia‑Pacific (28%), giving the business a genuinely global footprint. ^[19]

The FY25 results investor presentation shows an EBITDA margin (excluding e2open M&A costs) of about 53%, up 5 percentage points on FY24 and above the top end of management’s guidance range, with an “exit run‑rate” margin of 52%. ^[20]

WiseTech continues to emphasise the scale and stickiness of its flagship CargoWise platform:

CargoWise recurring revenue has delivered roughly 31% compound annual growth from FY16 to FY25 on a constant‑currency basis. ^[21]
The company reports attrition under 1% per year for 13 consecutive financial years and notes that the top 300 customers deliver more than 70% of CargoWise revenue, many on multi‑year contracts. ^[22]

Put bluntly: operationally, the engine is still humming.

Big strategic swing: the e2open acquisition and AI‑driven roadmap

In 2025 WiseTech also completed its acquisition of US‑listed supply‑chain SaaS provider e2open, in a deal the company frames as “strategically significant” and designed to massively expand its total addressable market in global trade and logistics. ^[23]

Management highlights from the FY25 presentation include: ^[24]

e2open integration is “on track”, with targeted US$50m in annualised cost synergies by FY27.
Prior acquisitions (Envase and Blume) have already swung from loss‑making at purchase to >25% EBITDA margins while growing revenue, reinforcing the playbook of buying under‑optimised assets and pushing them toward WiseTech‑level economics.

On the product side, WiseTech is leaning heavily into AI‑driven automation:

The company is rolling out AI workflow and management engines, an AI Classification Assistant, and an AI CargoWise Expert chatbot aimed at slashing manual work and compliance risk across freight forwarding, customs and warehousing workflows. ^[25]

Those AI capabilities become a central part of the story in the newest and most controversial development: CargoWise Value Packs.

CargoWise Value Packs: pricing overhaul and early pushback

On 1 December 2025, WiseTech announced the launch of CargoWise Value Packs, a fundamental overhaul of the way it charges customers. ^[26]

Key elements of the new model:

Seat‑based licensing and standard cloud hosting fees are being scrapped.
Customers will instead pay a single per‑transaction fee per logistics “job” (shipment, customs declaration, land transport job or warehouse order line). ^[27]
More than 216 high‑value modules and functions are opened up to logistics service providers, and over 116 new capabilities – including an expanded CargoWise Neo offering – are available to importers and exporters. ^[28]
All Value Pack customers get free access (with minor exceptions) to WiseTech Academy courseware for staff training and certifications. ^[29]
The model is explicitly described as a new “commercial model” that replaces and enhances the seat + transaction licence structure used since 2014.

WiseTech says more than 95% of customers were notified on 31 October 2025, with the new model going live for those customers from 1 December. ^[30]

So far, feedback has been mixed:

Trade publication The Loadstar reports that the rollout has triggered “industry frustration”, with some customers complaining about unannounced changes and perceived pricing shocks, even as WiseTech pitches the model as cheaper and more powerful in aggregate. ^[31]
A Reuters‑syndicated note carried on TradingView highlights that broker Jefferies believes the new pricing is consistent with its forecasts, estimating around a 6% uplift in CargoWise annualised revenue in FY26 and FY27 from the revamped model. ^[32]

In other words, the pricing shift could accelerate growth and adoption if customers embrace the Value Packs – or risk churn and reputational damage if pushback spreads.

Forecasts: what brokers and models expect from WTC now

Despite the governance storm clouds, analyst and model‑based forecasts still imply meaningful upside from current levels – though with wide uncertainty bands.

Street consensus: Buy with ~60% upside

Data compiled by several platforms paints a broadly similar picture:

Investing.com reports that, based on 17 analysts, WiseTech carries a “Buy” consensus rating (12 Buy, 5 Hold). The average 12‑month price target is about A$113.6, with a high around A$138 and a low around A$73.5. ^[33]
TipRanks shows 9 analysts in the last three months with an average target of roughly A$115.3, high near A$133.4 and low around A$72.7 – implying almost 58% upside from the late‑November price around A$73. ^[34]
Fintel summarises the average one‑year target at about A$119, with individual broker estimates ranging from the low A$70s to around A$140. ^[35]

Against a current price near A$70, that cluster of targets suggests that many brokers still see 50–70% potential upside if WiseTech can execute on its strategy and clear its governance overhang.

Several Australian broker notes – echoed via Motley Fool and StockLight coverage – also point to Bell Potter’s bullish view, suggesting WiseTech shares could gain around 45% over the next year if earnings and multiple normalise. ^[36]

Valuation narratives: “undervalued growth” vs “still too expensive”

The most striking example of the bullish camp is a recent Simply Wall St narrative, which:

Peers at long‑term growth in CargoWise usage and profitability,
Models the economics of the new transaction‑based Value Pack model, and
Arrives at a fair value estimate of A$119.12 per share, describing WiseTech as about 44% undervalued versus a then‑current price of A$66.17. ^[37]

However, even this bullish view acknowledges that the stock is expensive on traditional multiples:

Simply Wall St puts WiseTech’s P/E at about 71x, versus an Oceanic software industry average around 35.6x and its own “fair” multiple closer to 48x. ^[38]
StockLight data likewise tags the stock as “unattractive” on P/E, price/book and price/sales, with a P/E near 77x and price/sales around 30x – both far above sector averages. ^[39]

On the other side of the ledger, Trading Economics’s quantitative models forecast A$71.50 for WiseTech by the end of this quarter and about A$67.13 in one year, implying a relatively flat or modestly lower trajectory from current prices. ^[40]

In short: human analysts are far more optimistic than mechanical macro‑driven models, but both agree that WiseTech still carries a hefty valuation premium that requires strong execution.

Key risks to watch heading into 2026

From an investor’s perspective, the big question is not whether WiseTech can grow – it has a long track record of doing exactly that – but whether the risk side of the equation has blown out too far.

Some of the critical watch‑points:

Outcome of ASIC/AFP investigation
- Any escalation from “investigation and document production” to formal charges against individuals could deepen the governance discount and raise questions about internal controls. ^[41]
Board renewal and independence
- Investors will be monitoring whether WiseTech follows through on pledges to rebuild an independent‑dominated board and reduce key‑man risk around Richard White. TS2 Tech+1
Customer reaction to CargoWise Value Packs
- The new commercial model is central to management’s FY26 and FY27 growth aspirations. Sustained pushback from freight forwarders or shippers – as hinted in trade press – could hurt volumes or force pricing tweaks. ^[42]
e2open integration and synergy delivery
- Extracting the promised cost synergies and cross‑selling opportunities from e2open will be a multi‑year exercise; any missteps could weigh on margins and dent the “platform of platforms” narrative. ^[43]
Macro and trade‑flow sensitivity
- WiseTech may be software‑based, but its customers live and die by global trade volumes, freight rates and supply‑chain investment cycles. A slowdown in world trade or logistics capex would likely translate into slower transaction growth.
Valuation risk itself
- Even after a 40‑plus per cent drawdown, WiseTech still trades at a premium P/E and price/sales multiple to most peers. If growth slips a little, or the Value Pack model under‑delivers, multiple compression could resume, offsetting earnings growth. ^[44]

The bottom line on WiseTech Global stock as of 2 December 2025

Putting it together:

Share price: Around A$70, roughly half its 2025 peak, after a year dominated by governance headlines and a dramatic regulatory raid. ^[45]
Business performance: Still delivering mid‑teens revenue growth, expanding margins, extremely high recurring revenue and low customer churn, with heavy R&D investment and a bigger global footprint. ^[46]
Strategic moves: A major acquisition (e2open) and a bold new transaction‑based commercial model for CargoWise, packed with AI automation tools and training support. ^[47]
Valuation & forecasts: Street consensus still points to 50–70% upside over 12 months, but from a starting point of premium multiples and with a very wide range of targets reflecting genuine uncertainty. ^[48]
Risk: Governance, regulatory and reputational issues are front and centre, and the new pricing model introduces another layer of execution risk.

For investors scanning Google News and Discover today, WiseTech Global sits in that uncomfortable but fascinating zone where top‑tier fundamentals collide with top‑tier governance headaches.

Whether WTC is a bargain high‑growth logistics platform or a still‑expensive value trap with a governance problem now largely depends on three things: the trajectory of the ASIC/AFP probe, customer acceptance of the Value Packs model, and management’s ability to prove that WiseTech’s culture and oversight are catching up to the sophistication of its software.

References

OCBC Stock (SGX: O39) December 2025 Outlook: Share Price Near Highs, Fat Dividends and a New WeChat Pay Catalyst

DBS Group Holdings Stock (SGX: D05): Price, Dividend, Forecast and Latest News as of 2 December 2025