EEFT — EURONET WORLDWIDE, INC.
Snapshot dated August 31, 2026.
Euronet Worldwide, Inc. operates as a global electronic payments provider, facilitating money transfers, payment processing, and currency exchange services. The company functions through three primary segments: Electronic Fund Transfer Processing, which operates one of the largest independent ATM networks worldwide; epay, a prepaid electronic processing and distribution network; and Money Transfer, which handles international remittances through a network of proprietary stores and agent locations. Its customer base includes millions of individual retail consumers using its ATMs and remittance services, alongside corporate clients and retail merchants integrated into its payment processing infrastructure. Headquartered in Leawood, Kansas, the company maintains operations in over 170 countries and manages tens of thousands of ATMs and point-of-sale terminals. It competes with global financial institutions, specialized remittance providers, and local payment processors in diverse regional markets.
Fair Value / Share
$53.56
Price on August 31, 2026
$69.49
Upside to fair value
-22.92%
Data by Equibles and SEC filings. Figures are as of August 31, 2026 and are not live.
Earnings Yield
Earnings Yield shows how much profit a company generates relative to its share price. EPS ÷ Stock Price.
Stock Price
$69.49
Market Cap
$3,208,847,582
Net Income (TTM)
$288,400,000
Diluted Shares
46.2 million
EPS (TTM)
$6.25
Earnings Yield
8.99%
AI Analysis
Euronet Worldwide, Inc. has an earnings yield of 8.99%, calculated using a stock price of $69.49 and an EPS of $6.25. This yield sits above the 4-5% return available from safe, guaranteed alternatives like bonds. Mechanically, this indicates that the current market price reflects a cost of capital lower than the business's recent earnings power suggests, implying that the market is not currently pricing in aggressive future earnings growth for this price point. For this yield to increase, the earnings per share would need to rise relative to the share price, or the share price would need to decline. This measure captures only current profitability relative to price and does not account for future cash flow volatility or debt obligations.
Return on Capital
EBIT ÷ (Net Working Capital + Net Fixed Assets) — how efficiently the business turns capital into profit.
EBIT (TTM)
$505,100,000
Net Working Capital
$800,900,000
Net Fixed Assets
$371,800,000
Invested Capital
$1,172,700,000
Return on Capital
43.07%
AI Analysis
Euronet Worldwide, Inc. (EEFT) produced an EBIT of $505.1M against an invested capital base of $1.2B, which is derived from $800.9M in net working capital and $371.8M in net fixed assets. This results in a return on capital of 43.07%. Because this framework considers 30% or more to be an efficient use of capital, this figure sits above that benchmark. The metric calculates profit relative to the tangible operating capital required to run the business, deliberately excluding cash and goodwill. This result would shift if the company's capital intensity changed; for instance, significantly increasing investment in fixed assets or working capital requirements would lower the return on capital unless EBIT grew proportionally. This measure does not account for the impact of heavy capital reinvestment phases, which can temporarily suppress returns while new operations scale.
Acquirer's Multiple
Enterprise Value ÷ Operating Earnings — how many years of operating earnings it would take to buy the whole business.
| Company | Operating earnings | Enterprise value | Multiple |
|---|---|---|---|
| EEFTEURONET WORLDWIDE, INC. | $505.1M | $4.7B | 9.3x |
| FISVFiserv Inc | $4.7B | $55.7B | 12.0x |
| FISFidelity National Information Services, Inc. | $1.9B | $41.5B | 21.7x |
Where EEFT sits: 9.3x against a peer median of 16.8x (peers: 21.7x and 12.0x) — 44.9% below the median.
Show the enterprise value bridge for each companyHide the enterprise value bridge
EEFT
Debt $2.7B. This is the company's reported total debt — borrowings due within a year plus long-term borrowings. The company separately reports $152.9M of operating lease liabilities as of 2026-06-30 ($97.1M non-current, $55.8M current). These are excluded from debt because operating lease cost already sits inside operating earnings — counting the liability again as debt would charge the business twice for the same thing.
FIS
Named as a competitor: competes in core banking software, global merchant acquiring, and payment processing services
Debt $21.2B. This is the company's reported total debt — borrowings due within a year plus long-term borrowings. The company separately reports $82M of operating lease liabilities as of 2026-06-30. These are excluded from debt because operating lease cost already sits inside operating earnings — counting the liability again as debt would charge the business twice for the same thing.
FISV
Named as a competitor: competes in point-of-sale technology, account processing, and electronic payment networks
Debt $27.9B. This is the company's reported total debt — borrowings due within a year plus long-term borrowings. The company separately reports $126M of operating lease liabilities as of 2026-06-30. These are excluded from debt because operating lease cost already sits inside operating earnings — counting the liability again as debt would charge the business twice for the same thing.
Operating earnings — EEFT
AI Analysis
Euronet Worldwide (EEFT) has an Acquirer's Multiple of 9.3x, derived from an enterprise value of $4.7B and trailing operating earnings of $505.1M. Among the competitor group, FIS has an Acquirer's Multiple of 21.7x based on an enterprise value of $41.5B and operating earnings of $1.9B, while FISV has a multiple of 12.0x based on an enterprise value of $55.7B and operating earnings of $4.7B. Comparing these figures, FIS carries the highest multiple, while Euronet Worldwide carries the lowest. Euronet Worldwide's multiple sits at 9.3x against a peer median of 16.8x (peers: 21.7x and 12.0x) — 44.9% below the median. This measure evaluates the cost of buying a company's total operating earnings, though it does not account for differences in leverage or capital intensity between business models. The gap between these figures would close if Euronet Worldwide's operating earnings relative to its enterprise value were to align more closely with its peers, or if the market adjusted its pricing of those underlying earnings.
FS-Score
A 10-check read on financial health, across profitability, balance-sheet stability and operating momentum.
FS-Score
6/10
Decent score — worth a deeper look before investing.
Section 1
Current Profitability
3/3
Current Profitability is Strong, as the company is generating positive accounting profits and even stronger cash flows relative to its asset base.
- Return on Assets is positive at 4.77%
- Free Cash Flow to Total Assets is positive at 6.69%
- Accruals show cash-backed earnings with Cash Flow from Operations 1.81 times larger than Net Income
This section indicates high earnings quality; a reversal in the relationship between cash flow and net income would be the primary signal of deteriorating profitability.
Return on Assets (ROA > 0)
PassFree Cash Flow to Total Assets (FCFTA > 0)
PassAccruals (CFO / Net Income > 1)
PassSection 2
Stability
2/3
Stability is Mixed, reflecting a trade-off between a leaner capital structure and a tightening liquidity position.
- Leverage decreased from 0.19 to 0.16
- Liquidity declined with the current ratio falling from 1.25 to 1.11
- Net Dilution was avoided as shares fell from 48.1 million to 45.8 million shares
The score would improve if current assets began to grow faster than current liabilities, reversing the recent trend in the current ratio.
Change in Leverage (↓ or unchanged)
PassChange in Liquidity (↑ Current Ratio)
FailNet Dilution (annual diluted weighted-average shares, this year vs last)
PassSection 3
Recent Operational Improvements
1/4
Operational Improvements are Weak, as the business is currently generating lower relative returns and less revenue per dollar of assets than it did a year ago.
- Return on Assets fell from 5.24% to 4.77%
- Free Cash Flow to Total Assets dropped from 10.55% to 6.69%
- Gross Margin improved from 40.11% to 41.32%
- Asset Turnover declined from 0.68 to 0.65
While pricing power or cost control improved gross margins, the overall efficiency of the asset base is currently trending downward.
Change in ROA (↑)
FailChange in FCFTA (↑)
FailChange in Gross Margin (↑)
PassChange in Asset Turnover (↑)
FailFramework conclusion
The company earns a total score of 6/10, a result driven by strong current cash generation that is being offset by softening operational trends. This score suggests the company is currently stable and cash-generative, though the year-over-year declines in efficiency and return metrics indicate the business is not yet in an accelerating growth phase. The score provides a snapshot of financial health that helps distinguish whether the company's market price reflects temporary operational friction or a more permanent impairment of its ability to produce cash.
- Return on Assets is positive at 4.77%
- Cash Flow from Operations is 1.81 times Net Income
- Diluted shares outstanding were reduced to 45.8 million shares
- Asset Turnover moved lower to 0.65
Intrinsic Value (DCF)
A 10-year discounted cash flow, then the bridge from business value to value per share.
Reported cash flow → unlevered free cash flow
Free Cash Flow (reported)
$268.9M
+ After-Tax Interest Expense
$45.2M
= Unlevered Free Cash Flow
$314.1M
Business value (10-year DCF)
PV of Years 1–10
$2.1B
PV of Terminal Value
$1.8B
= Business Value
$3.9B
Terminal value share
45.7%
Business value → share value
Intrinsic Value (business)
$3.9B
+ Cash & Equivalents
$1.2B
− Debt
$2.7B
= Shareholders' Value
$2.5B
÷ Diluted Shares
46.2 million
= Fair Value / Share
$53.56
Divided by 46.2 million diluted shares — the weighted-average diluted count from the most recent quarterly income statement, for the quarter ended 2026-06-30.
Risk bucket → discount rate
mid (12%)
Year-1 FCF
$314.1M
Trailing twelve months.
FY2023 $548.7M · FY2024 $615.6M · FY2025 $434.3M
Growth rate (yrs 1–10)
5%
Terminal growth (after yr 10)
3%
AI Analysis
The valuation of Euronet Worldwide employs a 12% discount rate, reflecting a mid-risk assessment due to the company's significant exposure to foreign exchange markets, economic cycles, and regulatory shifts within the global payments industry. The forecast applies a 5.00% annual growth rate over the next decade, which accounts for the company's historical volatility in free cash flow generation. The calculation uses a fixed Year-1 FCF of $314.1M as the starting point for this projection. Beyond year 10, the model assumes a 3% terminal growth rate; this figure is fixed across all valuations to align with long-term inflation expectations. The terminal value represents 45.7% of the total business value, indicating that a significant portion of the calculation rests on performance in the distant future. To determine the fair value per share, the intrinsic business value is adjusted by adding $1.2B in cash and subtracting $2.7B in debt, resulting in a value belonging to shareholders of $2.5B. Dividing this by 46.2 million shares yields a fair value per share of $53.56. Compared to the current price of $69.49, this results in a margin of safety of -22.92%. Because nearly half of the total business value is derived from the terminal value, the final estimate is most sensitive to the terminal growth rate assumption, where even minor adjustments would significantly alter the resulting fair value.
Overall Verdict
How the five signals above stack up together, then the full synthesis.
Earnings Yield
8.99% vs ~4-5% bond-yield benchmark
Return on Capital
43.07% ROC vs ~30% benchmark
Acquirer's Multiple
9.3x against a peer median of 16.8x (peers: 21.7x and 12.0x) — 44.9% below the median.
FS-Score
6/10 — Solid but mixed
Intrinsic Value
-22.92% upside to fair value
The framework presents a distinct contrast between the company’s operating metrics and its current price-based valuation. The Earnings Yield of 8.99% and Return on Capital of 43.07% indicate strong profitability relative to their respective benchmarks, and the Acquirer's Multiple of 9.3x sits significantly below the peer median of 16.8x, or 44.9% below the median. Conversely, the FS-Score of 6/10 suggests some inconsistency in financial health, and the Intrinsic Value check registers a -22.92% margin of safety, indicating the current price exceeds the calculated intrinsic worth. This creates a tension where the valuation checks are divided; the Acquirer’s Multiple suggests the company is priced lower than its peers, while the Intrinsic Value check points to a price above its estimated fair value. A change in the Intrinsic Value calculation, driven by shifts in free cash flow projections or discount rate assumptions, would most significantly alter this overall assessment, as it is the primary driver of the current negative reading.
Comments
Notes from readers on EEFT — one each. Comments stay with the company, so they carry across to a later snapshot, and each one shows the date it was written.
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