Western Union Co. (WU) intrinsic value & 10-year financials
Western Union Co. (WU) has a Graham intrinsic value of $32.13 per share. At $6.17 on Oct 17, 2026, the stock trades 81% below that value. Over the last 10 fiscal years revenue shrank 3.6% a year to $3.9B, with an average return on invested capital of 34.6%.
- Graham intrinsic value
- $32.13
- Share price (Oct 17, 2026)
- $6.17
- Price vs Graham value
- 81% below
- Market cap
- $2.0B
- Revenue (FY2025)
- $3.9B
- Revenue growth (10-yr CAGR)
- -3.6%
- ROIC (10-yr avg)
- 34.6%
- Free cash flow (FY2025)
- $505.2M
WU 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.9B | $499.6M | $1.52 | $505.2M | 19.5% | 24.0% |
| FY2024 | $4.0B | $934.2M | $2.74 | $368.9M | 18.0% | 35.0% |
| FY2023 | $4.2B | $626.0M | $1.68 | $760.2M | 19.7% | 38.9% |
| FY2022 | $4.3B | $910.6M | $2.34 | $549.7M | 20.8% | 40.3% |
| FY2021 | $4.9B | $805.8M | $1.97 | $1.0B | 23.1% | 48.6% |
| FY2020 | $4.6B | $744.3M | $1.79 | $841.0M | 20.9% | 47.2% |
| FY2019 | $5.0B | $1.1B | $2.46 | $866.5M | 18.6% | 38.5% |
| FY2018 | $5.4B | $851.9M | $1.87 | $684.6M | 20.8% | 50.0% |
| FY2017 | $5.5B | -$557.1M | -$1.19 | $666.7M | 8.6% | 10.5% |
| FY2016 | $5.4B | $253.2M | $0.51 | $973.1M | 8.9% | 12.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Western Union CO is facing top-line stagnation, with revenue contracting over the decade.
Western Union CO has earned high returns on invested capital, averaging 34.6% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Western Union CO shows that management has aggressively returned capital to shareholders by retiring 33.6% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Western Union CO is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $32.13 per share.