WiseTech Global Ltd (ASX:WTC), the logistics software group behind the CargoWise platform, is stabilising around the mid‑A$60s on Wednesday, 26 November 2025, as investors continue to weigh strong fundamentals against an intense year of regulatory scrutiny and boardroom drama.
Real‑time pricing from local market data providers shows WiseTech trading around A$66.4–A$66.5 in today’s session, up a fraction from Tuesday’s close. On 25 November, the stock finished at A$66.04, down 4.75% for the day on heavy volume, after a brief rebound from multi‑year lows near A$64.53 hit in mid‑November. [1]
Even with today’s modest bounce, WiseTech remains one of the ASX’s biggest large‑cap tech casualties in 2025: the share price is down about 45% year‑to‑date and more than 50% over the past 12 months, leaving long‑term holders nursing deep paper losses. [2]
WTC share price today (26 November 2025): key numbers
Based on ASX price history and live quote services, here’s where WTC stock stands today: [3]
- Last traded (intraday): ~A$66.4–A$66.5
- Previous close (25 Nov 2025):A$66.04
- Day move: roughly +0.6% vs Tuesday’s close
- Recent trading range (Nov 2025): low around A$61.49–A$64.53, highs just under A$70
- Approx. 12‑month change:about –50% to –52%
- 2025 year‑to‑date change:around –45%
- Indicative market cap: ~A$22.4 billion
- Trailing P/E ratio: ~71x earnings
- Indicative dividend yield: ~0.3% per year
That valuation profile — high multiple, modest yield, but now paired with a halved share price — is central to the debate around WiseTech Global stock today.
What WiseTech Global does – and why it matters
WiseTech is a specialist in logistics execution software. Its flagship CargoWise platform is used by many of the world’s largest freight forwarders and logistics providers to manage end‑to‑end shipment workflows across borders, modes and regulatory regimes. The company says its technology supports around 17,000 customers across more than 170 countries, delivered almost entirely via the cloud. [4]
In simple terms, WiseTech is trying to become the operating system for global trade:
- CargoWise handles freight forwarding, customs, warehousing and transportation management.
- The group reinvests heavily in R&D — about 34% of FY25 revenue — to extend the platform and embed more automation and AI. [5]
- The 2025 acquisition of E2open in the US further broadened its reach into supply‑chain planning, procurement and visibility tools. [6]
The long‑term growth story remains intact on paper. But 2025 has shown how quickly sentiment can flip when governance and guidance collide.
Earnings still growing: inside WiseTech’s FY25 results and FY26 guidance
At an operational level, FY25 (year to 30 June 2025) was a solid year:
- Revenue: about A$778.7 million, up 14% on FY24
- CargoWise revenue: around A$682.2 million, up 18%, with roughly 17% organic growth
- Gross margin: about 87%, slightly higher year‑on‑year
- Reported EBITDA: roughly A$381.6 million, with margin near 49%
- Underlying NPAT: about A$241.8 million, up 30%
- Statutory NPAT: around A$200.7 million, up 17% [7]
Cash generation was a highlight: operating cash flow rose around 25%, free cash flow jumped roughly 31% to A$287 million, and management calculated a “Rule of 40” score of 51% (revenue growth plus free‑cash‑flow margin), underlining the business’s high‑margin SaaS profile. [8]
The guidance shock
The trouble began when WiseTech paired that strong FY25 scorecard with underwhelming FY26 guidance.
In August, the company told investors to expect for FY26: [9]
- Revenue: between A$1.39 billion and A$1.44 billion (including E2open)
- EBITDA: between A$550 million and A$585 million
- Implied EBITDA margin: around 40–41%
While those numbers imply another step‑change in scale thanks to E2open (combined pro‑forma FY25 revenue was already about A$1.39 billion with EBITDA around A$579 million), they were meaningfully below market expectations. Reuters data showed consensus EBITDA closer to A$651 million, so the midpoint of WiseTech’s guidance fell short by roughly 10–15%. [10]
The result: on 26 August 2025, WTC shares slumped as much as 17–18% in a single session, hitting the mid‑A$90s and erasing billions in market value. [11]
Bell Potter and other brokers later noted that the guidance reflects increased integration costs, investment in AI and the E2open platform, and a more conservative near‑term margin posture — but the damage to sentiment was already done. [12]
From growth darling to governance story: raids, resignations and shareholder revolt
What turned WiseTech from a market favourite into a lightning rod in 2025 wasn’t just earnings. It was governance.
Board upheaval and leadership churn
- In February 2025, four independent non‑executive directors, including then‑chair Richard Dammery, resigned over “intractable differences” with founder Richard White, sparking a trading halt and a wave of concern over board independence. [13]
- White subsequently returned as executive chair after having stepped down as CEO in late 2024 amid media scrutiny of his personal life. [14]
- In July 2025, WiseTech appointed insider Zubin Appoo as CEO, with White retaining the chairman role. Reuters reported that Australia’s largest pension fund, AustralianSuper, exited a roughly 1.9% stake earlier in the year, citing dissatisfaction with the leadership transition. [15]
ASIC investigation and AFP raid
The governance narrative escalated dramatically in late October:
- On 28 October 2025, Australia’s corporate regulator ASIC, supported by the Australian Federal Police, executed a search warrant at WiseTech’s Sydney office. The probe centres on alleged trading in company shares by White and several employees. [16]
- Coverage from sources such as The Bull and Meyka highlighted that WiseTech has said the investigation does not involve allegations against the company itself. Nevertheless, the optics of a raid on headquarters further rattled investors. [17]
In the weeks around the raid, the stock slid to new multi‑year lows. As of 22 November, Meyka calculated that WTC had fallen about 18% over 30 days and almost 40% over three months, closing at A$65.76 that day. [18]
A first strike on executive pay
At the 2025 AGM on 21 November, shareholders sent another pointed message:
- Roughly 49.5% of votes were cast against WiseTech’s remuneration report, more than double the 25% ‘first strike’ threshold under Australia’s two‑strikes rule. [19]
- A second strike at the 2026 AGM could trigger a “spill” vote, forcing shareholders to decide whether to put the entire board up for re‑election.
While the company reaffirmed its FY26 guidance at the AGM, broker commentary described the vote as a clear sign that many institutional investors remain unhappy with how the board has handled leadership, disclosure and incentive structures. [20]
Why some analysts still see upside in WTC stock
Despite the governance overhang, WiseTech remains a strategically important, high‑margin software business with strong customer retention and substantial long‑term growth potential in global logistics and supply‑chain digitisation. [21]
That split personality — quality business, messy narrative — is reflected in current analyst and valuation views.
Broker views and price targets
- A recent Jefferies note, published on 23 November, cut its WiseTech price target from A$125.60 to A$89, explicitly applying a discount for the risk that the ASIC investigation ends unfavourably. The broker also trimmed its FY26 EBITDA forecast by about 10% and FY27 by 8%, but argued that WiseTech still has enough management depth to roll out its new commercial model and AI roadmap. [22]
- According to LSEG data cited in that note, 10 of 16 analysts currently rate the stock a “buy” or better, and six rate it a “hold”, with a median target around A$120 — implying significant upside from the mid‑A$60s level if the company can rebuild confidence. [23]
- RBC Capital Markets previously downgraded WiseTech from “Outperform” to “Sector Perform” following the FY26 guidance miss, cutting its target to roughly A$120, according to coverage summarised by The Bull and Investing.com. [24]
Other research providers paint a very wide valuation band:
- A narrative‑driven analysis from Simply Wall St recently suggested a fair value estimate near A$119 per share, positioning WiseTech as materially undervalued if its growth forecasts are met. [25]
- The same piece, however, noted that WiseTech trades on a P/E of about 71x, well above the regional software sector’s mid‑30s multiple, highlighting the risk that any further slowdown in organic growth or mis‑execution on E2open integration could compress that premium. [26]
- Earlier discounted cash‑flow work on Yahoo Finance and other platforms has at times put fair value closer to A$60 per share, implying that some models still see WTC as slightly overvalued even after the crash. [27]
In short: depending on which lens you use, WiseTech Global stock at A$66 can look cheap, expensive, or somewhere in between.
Fundamentals vs risk: what investors in WTC are watching now
With no fresh ASX announcements since the AGM, today’s move in WTC stock is more about digestion than new information. [28]
Here are the main themes shaping how the market prices WiseTech on 26 November 2025:
1. Can the FY26 guidance be trusted?
The AGM reaffirmed WiseTech’s FY26 revenue and EBITDA ranges after a bruising few months, which some brokers viewed as “first hurdle cleared”. [29]
Key questions now:
- Will E2open integration synergies materialise fast enough to defend a 40–41% EBITDA margin?
- Can CargoWise return to higher organic growth after delays in product launches like Container Transport Optimization (CTO)? [30]
2. Governance repair and regulatory outcomes
The ASIC investigation is arguably the biggest swing factor for the share price:
- A benign outcome with no enforcement action against individuals could remove a major overhang.
- Adverse findings, especially if they involve civil or criminal sanctions against key insiders, could reignite concerns about culture and oversight.
At the same time, the first strike on pay means the board has just 12 months to convince a sceptical bloc of shareholders that executive incentives and governance structures have genuinely improved. [31]
3. Execution on AI and the new pricing model
WiseTech is pivoting from a traditional “seat plus transaction” pricing model towards a transaction‑only “Value Pack” model that bundles core and advanced features, explicitly designed for a world where AI lets customers do more with fewer human operators. [32]
The upside case:
- Higher recurring revenue per transaction, deeper customer lock‑in and faster SME adoption.
- Expanded revenue streams from AI‑powered workflow engines and management tools embedded in CargoWise. [33]
The risk:
- If customers resist pricing changes or if AI features arrive more slowly than promised, the new model could delay growth or compress margins in the near term.
4. Technicals and sentiment
Short‑term traders are focused on a few key price levels:
- The mid‑A$60s area (roughly where WTC sits today) has acted as a support zone since the October raid and November AGM. [34]
- The recent low around A$61–A$64 marks the line in the sand for many; a decisive break below could open the door to deeper falls.
- On the upside, the A$70–A$75 zone is the first major resistance band from which the stock sold off after the guidance downgrade.
With 2025’s drawdown leaving the shares far below their 2024 highs above A$130, some fund managers have begun framing WiseTech as a potential “quality growth on sale” opportunity, while others prefer to wait for clearer signals on governance and ASIC. [35]
What today’s move in WTC stock means for investors
For 26 November 2025, the story on WTC stock is less about a big price swing and more about consolidation:
- The share price is holding above the recent multi‑year lows, suggesting some buyers are willing to step in around the A$65 mark. [36]
- At the same time, volumes and recent performance data show that many investors have already de‑risked their WiseTech exposure after a year of surprises, and are now waiting on clearer developments.
Anyone analysing WiseTech Global today is essentially juggling three variables:
- A still‑impressive core business in CargoWise, with high margins, strong cash flow and a decade‑long track record of compounding recurring revenue. [37]
- A powerful strategic expansion via E2open and AI‑driven products that could make WiseTech a central node in global trade software. [38]
- An elevated governance and regulatory risk profile that has already cut the share price in half and could still surprise in either direction. [39]
For now, the market’s verdict on 26 November is cautious: WTC is edging higher, but conviction remains fragile.
Important disclaimer
This article is general information only and is not financial product advice. It has been prepared without taking into account your objectives, financial situation or needs. You should do your own research and consider seeking advice from a licensed financial adviser before making any investment decisions involving WiseTech Global Ltd (ASX:WTC) or any other security.
References
1. www.intelligentinvestor.com.au, 2. www.intelligentinvestor.com.au, 3. www.intelligentinvestor.com.au, 4. www.reuters.com, 5. www.wisetechglobal.com, 6. www.reuters.com, 7. www.wisetechglobal.com, 8. www.wisetechglobal.com, 9. www.investing.com, 10. www.investing.com, 11. www.investing.com, 12. www.smartkarma.com, 13. thebull.com.au, 14. www.reuters.com, 15. www.reuters.com, 16. www.reuters.com, 17. thebull.com.au, 18. meyka.com, 19. www.sharecafe.com.au, 20. www.smartkarma.com, 21. www.morningstar.com.au, 22. www.tradingview.com, 23. www.tradingview.com, 24. thebull.com.au, 25. simplywall.st, 26. simplywall.st, 27. finance.yahoo.com, 28. www.intelligentinvestor.com.au, 29. www.smartkarma.com, 30. www.wisetechglobal.com, 31. www.sharecafe.com.au, 32. www.wisetechglobal.com, 33. www.wisetechglobal.com, 34. www.intelligentinvestor.com.au, 35. thebull.com.au, 36. thebull.com.au, 37. www.wisetechglobal.com, 38. www.wisetechglobal.com, 39. www.reuters.com
