Euronet Worldwide (EEFT)
Market Price (8/19/2026): $69.69 | Market Cap: $2.6 BilSector: Financials | Industry: Transaction & Payment Processing Services
Euronet Worldwide (EEFT)
Market Price (8/19/2026): $69.69Market Cap: $2.6 BilSector: FinancialsIndustry: Transaction & Payment Processing Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.5%, FCF Yield is 10% Stock buyback supportStock Buyback 3Y Total is 1.4 Bil Low stock price volatilityVol 12M is 36% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, and Cross-Border Remittances. | Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -91% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% | Key risksEEFT key risks include [1] navigating diverse and stringent international regulatory frameworks, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.5%, FCF Yield is 10% |
| Stock buyback supportStock Buyback 3Y Total is 1.4 Bil |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, and Cross-Border Remittances. |
| Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -91% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% |
| Key risksEEFT key risks include [1] navigating diverse and stringent international regulatory frameworks, Show more. |
Qualitative Assessment
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Euronet Worldwide (EEFT) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Euronet Worldwide (EEFT) missed analysts' consensus estimates for its fiscal Q2 2026 earnings, reported on July 30, 2026, which negatively impacted the stock. The company reported adjusted earnings per share (EPS) of $2.82, falling short of the $2.93 consensus estimate by $0.11. Additionally, quarterly revenue of $1.11 billion missed the forecasted $1.15 billion by approximately $40 million. This earnings shortfall led to an 8.87% drop in the stock price in premarket trading following the announcement.
2. Significant weakness in the Cross-Border Payments segment contributed to the stock's decline. This segment experienced a 4% year-over-year revenue decrease, with operating income plunging 34% and adjusted EBITDA declining 31% in fiscal Q2 2026. The company attributed this underperformance to a contraction in the U.S. remittance market and shifts in immigration policy.
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Euronet Worldwide (EEFT) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Euronet Worldwide (EEFT) missed analysts' consensus estimates for its fiscal Q2 2026 earnings, reported on July 30, 2026, which negatively impacted the stock. The company reported adjusted earnings per share (EPS) of $2.82, falling short of the $2.93 consensus estimate by $0.11. Additionally, quarterly revenue of $1.11 billion missed the forecasted $1.15 billion by approximately $40 million. This earnings shortfall led to an 8.87% drop in the stock price in premarket trading following the announcement.
2. Significant weakness in the Cross-Border Payments segment contributed to the stock's decline. This segment experienced a 4% year-over-year revenue decrease, with operating income plunging 34% and adjusted EBITDA declining 31% in fiscal Q2 2026. The company attributed this underperformance to a contraction in the U.S. remittance market and shifts in immigration policy.
3. Consolidated profitability metrics for fiscal Q2 2026 showed a notable decline. Euronet's consolidated operating income decreased 14% to $137.1 million, and adjusted EBITDA fell 6% to $192.8 million compared to the same period in the prior year. This overall reduction in profitability, despite growth in other segments like Digital Accelerators, weighed on investor sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -4.4% change in EEFT stock from 4/30/2026 to 8/18/2026 was primarily driven by a -9.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 72.38 | 69.21 | -4.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,244 | 4,375 | 3.1% |
| Net Income Margin (%) | 7.3% | 6.6% | -9.6% |
| P/E Multiple | 9.6 | 9.1 | -5.0% |
| Shares Outstanding (Mil) | 41 | 38 | 8.1% |
| Cumulative Contribution | -4.4% |
Market Drivers
4/30/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EEFT | -4.4% | |
| Market (SPY) | 6.8% | 15.6% |
| Sector (XLF) | 11.0% | 34.8% |
Fundamental Drivers
The -4.5% change in EEFT stock from 1/31/2026 to 8/18/2026 was primarily driven by a -9.1% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 72.46 | 69.21 | -4.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,183 | 4,375 | 4.6% |
| Net Income Margin (%) | 7.2% | 6.6% | -9.1% |
| P/E Multiple | 9.6 | 9.1 | -5.7% |
| Shares Outstanding (Mil) | 40 | 38 | 6.5% |
| Cumulative Contribution | -4.5% |
Market Drivers
1/31/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EEFT | -4.5% | |
| Market (SPY) | 11.2% | 26.3% |
| Sector (XLF) | 8.8% | 46.1% |
Fundamental Drivers
The -28.8% change in EEFT stock from 7/31/2025 to 8/18/2026 was primarily driven by a -31.9% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 97.18 | 69.21 | -28.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,048 | 4,375 | 8.1% |
| Net Income Margin (%) | 7.9% | 6.6% | -16.1% |
| P/E Multiple | 13.3 | 9.1 | -31.9% |
| Shares Outstanding (Mil) | 44 | 38 | 15.3% |
| Cumulative Contribution | -28.8% |
Market Drivers
7/31/2025 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EEFT | -28.8% | |
| Market (SPY) | 22.4% | 28.5% |
| Sector (XLF) | 11.8% | 45.3% |
Fundamental Drivers
The -21.2% change in EEFT stock from 7/31/2023 to 8/18/2026 was primarily driven by a -49.6% change in the company's P/E Multiple.| (LTM values as of) | 7312023 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 87.87 | 69.21 | -21.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,428 | 4,375 | 27.6% |
| Net Income Margin (%) | 7.1% | 6.6% | -7.0% |
| P/E Multiple | 18.0 | 9.1 | -49.6% |
| Shares Outstanding (Mil) | 50 | 38 | 31.5% |
| Cumulative Contribution | -21.2% |
Market Drivers
7/31/2023 to 8/18/2026| Return | Correlation | |
|---|---|---|
| EEFT | -21.2% | |
| Market (SPY) | 73.6% | 47.6% |
| Sector (XLF) | 71.1% | 53.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EEFT Return | -18% | -21% | 8% | 1% | -26% | -7% | -51% |
| Peers Return | -21% | -35% | 7% | 26% | -18% | -5% | -46% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| EEFT Win Rate | 42% | 42% | 50% | 42% | 33% | 38% | |
| Peers Win Rate | 40% | 38% | 58% | 58% | 43% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| EEFT Max Drawdown | -38% | -49% | -39% | -21% | -38% | -20% | |
| Peers Max Drawdown | -39% | -47% | -32% | -19% | -32% | -31% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FIS, GPN, ACIW, WU, PYPL. See EEFT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/18/2026 (YTD)
How Low Can It Go
| Event | EEFT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -19.5% | -18.8% |
| % Gain to Breakeven | 24.2% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.0% | -6.7% |
| % Gain to Breakeven | 15.0% | 7.1% |
| Time to Breakeven | 56 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -52.4% | -33.7% |
| % Gain to Breakeven | 110.1% | 50.9% |
| Time to Breakeven | 275 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.0% | -19.2% |
| % Gain to Breakeven | 23.5% | 23.8% |
| Time to Breakeven | 36 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -13.8% | -3.7% |
| % Gain to Breakeven | 16.1% | 3.9% |
| Time to Breakeven | 77 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -15.9% | -12.2% |
| % Gain to Breakeven | 18.9% | 13.9% |
| Time to Breakeven | 22 days | 62 days |
In The Past
Euronet Worldwide's stock fell -19.5% during the 2025 US Tariff Shock. Such a loss loss requires a 24.2% gain to breakeven.
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Asset Allocation
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| Event | EEFT | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -52.4% | -33.7% |
| % Gain to Breakeven | 110.1% | 50.9% |
| Time to Breakeven | 275 days | 140 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -39.9% | -15.4% |
| % Gain to Breakeven | 66.3% | 18.2% |
| Time to Breakeven | 664 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -76.2% | -53.4% |
| % Gain to Breakeven | 319.7% | 114.4% |
| Time to Breakeven | 1625 days | 1085 days |
In The Past
Euronet Worldwide's stock fell -19.5% during the 2025 US Tariff Shock. Such a loss loss requires a 24.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Euronet Worldwide (EEFT)
Euronet Worldwide (EEFT) is a global provider of electronic payment and transaction processing solutions. The company operates through three primary segments: Electronic Fund Transfer (EFT) Processing, epay, and Money Transfer, serving a wide range of customers from financial institutions to individual consumers across the globe.
The EFT Processing segment focuses on core banking and payment infrastructure, offering services like ATM cash withdrawal and deposit, outsourced ATM and point-of-sale (POS) management, credit and debit card issuing and acquiring, and various value-added services such as currency conversion and fraud management. Its epay segment specializes in distributing and processing prepaid mobile airtime, gift cards, and other electronic payment products for retailers and content providers. Meanwhile, the Money Transfer segment facilitates consumer-to-consumer and account-to-account remittances, bill payments, and foreign currency exchange, primarily catering to individual consumers.
With extensive networks including over 42,000 ATMs, more than a million POS terminals, and half a million money transfer locations, Euronet Worldwide positions itself as a critical enabler of diverse digital and physical payment transactions. It provides comprehensive infrastructure and services that support the movement of money and value for financial institutions, businesses, and individuals worldwide.
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Imagine a global Western Union that also operates tens of thousands of ATMs and processes a wide range of electronic payments for banks and retailers worldwide.
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- Electronic Payment Solutions: Comprehensive services including ATM and POS management, card outsourcing, and merchant acquiring.
- Non-Cash Transaction Services: Offerings such as ATM/POS currency conversion, mobile top-up, bill payment, fraud management, and foreign remittance.
- Prepaid Product Distribution & Processing: Distribution and processing of prepaid mobile airtime and various other electronic payment products.
- Gift Card Services: Distribution, processing, and fulfillment for gift cards and other prepaid products.
- Money Transfer Services: Facilitates consumer-to-consumer and account-to-account money transfers globally.
- Financial & Payment Services: Provides bill payment, check cashing, foreign currency exchange, and prepaid debit cards.
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Euronet Worldwide (EEFT) primarily sells its payment and transaction processing and distribution solutions to other companies. Its major customers fall into the following categories:
- Financial institutions
- Agents
- Retailers
- Merchants
- Content providers
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Michael J. Brown, Chairman and CEO
Michael J. Brown co-founded Euronet in 1994 and has served as its Chief Executive Officer ever since. He is also Chairman of Euronet's board of directors and the Company's President. An accomplished entrepreneur with over 30 years of combined experience in the computer software and digital payments business, he is actively involved in the day-to-day operations of Euronet while overseeing the company's business strategy, financial performance, and growth. Prior to Euronet, Mr. Brown founded and was CEO of Innovative Software in 1979, which developed integrated business software and later merged with Informix in 1988, where he served as President and Chief Operating Officer. In 1993, he was a founding investor of Visual Tools, a company that was acquired by Sybase Software in 1996.
Rick L. Weller, Executive VP and CFO
Rick L. Weller was named Chief Financial Officer for Euronet Worldwide in November 2002. He is also the Chief Accounting Officer. Mr. Weller has over 30 years of business and financial management experience. Before joining Euronet, he held several operating and financial leadership positions, including Chief Operating Officer of ionex telecommunications and Chief Financial Officer of Intek Information, Inc. He also founded Compass Partners in 1999, which led to the formation of Ionex Telecommunications, Inc. His previous experience includes various management roles at Sprint, and he served as Senior Manager in the financial service industry practice of Price Waterhouse. Following the CoreCard-Euronet merger, he was appointed a director of CoreCard and became its President effective October 30, 2025.
Kevin J. Caponecchi, Executive VP and CEO, epay, Software and EFT Asia Pacific Division
Kevin J. Caponecchi joined Euronet in July 2007. He is responsible for the strategic planning, operations, and global management of epay (Euronet's Prepaid segment), as well as the software and Asia Pacific EFT businesses. Mr. Caponecchi has 17 years of domestic and international management experience with various GE businesses, and prior to joining Euronet, he served as President for GE Transportation's Global Signaling business.
Juan C. Bianchi, Executive VP and CEO, Money Transfer Segment
Juan C. Bianchi joined Euronet after the company's acquisition of Ria Envia, Inc. in April 2007. As CEO of the money transfer segment, he is responsible for the financial and operational performance and driving the global strategy for the division. Before the acquisition, Mr. Bianchi served as the CEO of Ria and has spent his entire career at either Ria or AFEX Money Express, a money transfer company purchased by Ria's founders. He has more than 15 years of experience in the money transfer industry.
Nikos Fountas, Executive VP and CEO, EFT Americas, Europe, Middle East and Africa Division
Nikos Fountas joined Euronet following the company's 2005 acquisition of Instreamline S.A. in Greece. He is responsible for the strategic planning, operations, and management of Euronet's EFT Segment in the Americas and EMEA, as well as Euronet's merchant services globally. Mr. Fountas has direct profit and loss responsibility for the EFT business and oversees commercial sales initiatives, including the provision of ATM, POS, and card-related services to customers.
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The key risks to Euronet Worldwide (EEFT) primarily stem from the dynamic and highly regulated nature of the global payments industry and its exposure to macroeconomic factors.
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Intense Competition and Technological Disruption: Euronet operates in a highly competitive fintech landscape, facing numerous established players and emerging startups that offer innovative or lower-cost payment solutions. The rapid pace of technological advancements, particularly the shift towards digital and real-time payments, necessitates continuous investment in technology and innovation to maintain market position and avoid obsolescence. This competitive pressure and potential for technological disruption affect all of Euronet's segments, including Electronic Fund Transfer Processing, epay, and Money Transfer.
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Regulatory and Geopolitical Challenges: Given Euronet's expansive global footprint, with operations in over 200 countries and territories, it is exposed to diverse and evolving regulatory frameworks. Adhering to stringent laws governing electronic payments and money transfers across various jurisdictions can lead to increased compliance costs and potential penalties for non-compliance. Furthermore, geopolitical risks, economic downturns, and political instability in the regions where Euronet operates can disrupt business operations and negatively impact financial performance.
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Macroeconomic Pressures and Currency Fluctuations: Economic factors such as inflation, high unemployment, and fluctuating consumer discretionary spending can significantly impact Euronet's financial performance. The epay segment, for instance, is strongly tied to consumer spending, while the Money Transfer segment's volumes can be affected by broader economic stress among lower-income consumers and changes in immigration policies. Additionally, Euronet's international operations expose it to currency exchange rate risks, where a stronger U.S. dollar can negatively impact revenues earned outside the U.S., leading to unpredictable fluctuations in operating income.
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- The rise of digital-first international money transfer services (e.g., Wise, Remitly) which offer significantly lower fees and more convenient, fully digital channels for cross-border remittances, directly threatening Euronet's Money Transfer segment which relies on a network of physical locations.
- The increasing adoption and development of blockchain-based payment networks and stablecoins that enable near-instant, low-cost international transfers, posing a fundamental long-term threat to traditional money transfer and foreign exchange services offered within Euronet's Money Transfer and Electronic Fund Transfer Processing segments.
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Euronet Worldwide (EEFT) operates in several large addressable markets globally through its Electronic Fund Transfer Processing, epay, and Money Transfer segments.
Money Transfer Services
The global consumer-to-consumer (C2C) cross-border payments market, which encompasses services such as remittances and high-value transfers, had a total addressable market (TAM) of approximately $2.1 trillion in 2025. This market is projected to grow to $3.3 trillion by 2033.
Electronic Fund Transfer (EFT) Processing
For its broader electronic fund transfer processing solutions, including credit and debit card outsourcing, card issuing, and merchant acquiring services, the global payment processing solutions market was estimated at USD 173.38 billion in 2025. This market is projected to reach approximately USD 208.57 billion by 2026 and is anticipated to grow to around USD 1,051.93 billion by 2035.
ATM Services
Within its Electronic Fund Transfer Processing segment, specifically for services related to automated teller machines (ATMs) like cash withdrawal and deposit services, ATM network participation, and outsourced ATM management solutions, the global ATM market was valued at USD 25.1 billion in 2025. It is poised to grow to USD 44.1 billion by 2033. Additionally, the global ATM managed services market alone was valued at USD 9.04 billion in 2025 and is projected to reach USD 20.85 billion by 2034.
epay Segment (Prepaid Mobile, Cards, and Digital Wallets)
For its epay segment, which distributes and processes prepaid mobile airtime, other electronic payment products, and provides services for various prepaid products, cards, and gift cards, the global prepaid card and digital wallet market is expected to reach US$2.13 trillion in 2026. The overall prepaid phone plan market is also significant, projected to rise from approximately USD 50 billion in 2023 to an estimated USD 90 billion by 2032.
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Euronet Worldwide (EEFT) is expected to drive future revenue growth over the next two to three years through several key initiatives across its segments:
- Expansion into New Markets and Strategic Market Penetration: Euronet is actively expanding its footprint into new geographic markets and deepening its penetration in existing ones across its Electronic Fund Transfer (EFT) Processing and Money Transfer segments. This strategy capitalizes on expanding market opportunities and has been highlighted as a driver for both EFT revenue and overall earnings growth.
- Growth in Merchant Acquiring Services: The company's Merchant Services business, part of the EFT segment, is consistently identified as a significant area of growth. This includes the expansion of its merchant acquiring business, which has seen double-digit growth and is a key contributor to the EFT segment's performance.
- Acceleration of Digital Payment Products and Direct-to-Consumer Digital Transactions: Euronet is focusing on expanding its digital offerings across its epay and Money Transfer segments. This includes enhanced growth in digital media and mobile channels for epay, and substantial growth in direct-to-consumer digital and cross-border transactions within its Money Transfer segment. The company is strategically shifting towards high-margin digital offerings and investing in accelerated digital initiatives, including partnerships for real-time transfers.
- Increased International Transaction Activity and Travel Recovery: The EFT segment's revenue growth is significantly bolstered by improved international travel and a rise in cross-border transactions. This continued recovery and growth in global travel-related activities are expected to further drive transaction volumes and revenue.
- Strategic Acquisitions: Euronet actively pursues strategic acquisitions to fuel its business momentum. Recent examples include the acquisition of Kyodai in the Money Transfer segment and Credia Bank's Merchant Acquiring Business, indicating a continued inorganic growth strategy.
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Share Repurchases
- Euronet Worldwide completed a multi-year share repurchase program totaling 15,673,988 shares for US$1.48 billion since 2022, which reduced the share count by over one-third.
- The company's Board of Directors previously authorized the repurchase of up to $100 million or 5 million shares of common stock.
- In August 2025, Euronet announced plans to repurchase up to $175 million of its common stock in privately negotiated deals.
Share Issuance
- Euronet Worldwide's Shares Outstanding (Weighted Average) showed a net decrease over the last few years, falling from $52.3 million in 2020 to $43.9 million in 2024, indicating share repurchases have outpaced any issuances.
Outbound Investments
- Euronet Worldwide's most recent acquisition was CoreCard in July 2025, a transaction processing software company, which was a strategic move to expand into credit card issuing and processing software and was estimated at $248 million.
- The company acquired Infinitium in February 2024 and Dolphin Debit in April 2020, with the latter expanding ATM outsourcing services to the U.S.
- Euronet is set to acquire CrediaBank S.A.'s merchant acquiring division, with the finalization anticipated in the third quarter of 2026.
Capital Expenditures
- Capital expenditures were reported at -$125.50 million in the last 12 months, as of March 13, 2026.
- Annual capital expenditures for fiscal year 2025 were $125.50 million.
- The primary focus of capital expenditures includes investments in expanding digital payment processing and global money transfers, as well as the ongoing shift from cash to digital payments, including the transformation of the epay segment and increasing digital and real-time transactions in the Money Transfer segment.
Peer Outperformance in Transaction & Payment Processing Services
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| EEFT | Euronet Worldwide | 7.5% | 9.1x | -27.8% | -17.2% | -47.0% | — |
| WEX | WEX | 4.3% | 19.0x | 11.0% | 4.5% | 13.0% | +60pp |
| JKHY | Jack Henry & Associates | 7.5% | 21.2x | -3.4% | 2.9% | -7.4% | +40pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Investment Banking & Brokerage | 13 | 7.5% | 129.0% | 136.6% | IBKR 512% · SNEX 245% · GS 198% |
| Diversified Banks | 12 | 47.6% | 134.7% | 117.7% | CM 169% · JPM 167% · RY 151% |
| Reinsurance | 6 | 23.0% | 85.7% | 116.3% | SPNT 145% · MTG 139% · RGA 129% |
| Life & Health Insurance | 19 | 18.6% | 60.6% | 95.8% | UNM 313% · FG 236% · MFC 186% |
| Multi-Sector Holdings | 4 | 22.0% | 42.7% | 74.2% | JEF 94% · BRK-B 76% · VOYA 72% |
| Regional Banks | 260 | 35.5% | 85.4% | 71.0% | GCBC 396% · ESQ 386% · NBN 297% |
| Property & Casualty Insurance | 42 | 16.1% | 69.3% | 70.4% | ASIC 2456900% · HRTG 449% · UVE 281% |
| Multi-line Insurance | 9 | 19.1% | 83.9% | 62.4% | GNW 202% · L 109% · SLF 93% |
| Consumer Finance | 30 | 15.5% | 87.9% | 36.2% | ENVA 760% · EZPW 373% · AGM 174% |
| Insurance Brokers | 15 | -11.6% | 8.7% | 30.9% | LIFE 652% · ARX 86% · AJG 84% |
| Asset Management & Custody Banks | 83 | -6.0% | 20.0% | 24.9% | WT 313% · VCTR 304% · SII 294% |
| Financial Exchanges & Data | 15 | -3.8% | 12.4% | 18.0% | VIRT 190% · CBOE 144% · CME 69% |
| Commercial & Residential Mortgage Finance | 12 | -27.7% | 23.8% | 6.3% | FNMA 560% · FMCC 555% · ESNT 68% |
| Specialized Finance | 3 | 20.2% | 54.6% | -1.2% | EFC 40% · CACC -1% · HASI -6% |
| Mortgage REITs | 34 | -4.1% | 16.3% | -10.6% | RITM 77% · NREF 60% · DX 45% |
| Transaction & Payment Processing Services ← | 15 | -1.1% | 3.7% | -40.4% | MA 66% · V 63% · CPAY 59% |
| Diversified Capital Markets | 21 | -30.0% | 1.0% | -43.5% | BTCS 447% · OPY 197% · LPLA 170% |
| Diversified Financial Services | 5 | -7.0% | 61.7% | -49.1% | FRHC 169% · EQH 95% · TMS -49% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 56.30 |
| Mkt Cap | 13.2 |
| Rev LTM | 7,303 |
| Op Inc LTM | 816 |
| FCF LTM | 623 |
| FCF 3Y Avg | 1,123 |
| CFO LTM | 1,134 |
| CFO 3Y Avg | 1,536 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.4% |
| Rev Chg 3Y Avg | 6.8% |
| Rev Chg Q | 6.0% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Inc Chg LTM | -3.0% |
| Op Inc Chg 3Y Avg | 8.5% |
| Op Mgn LTM | 16.3% |
| Op Mgn 3Y Avg | 17.4% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 17.2% |
| CFO/Rev 3Y Avg | 19.9% |
| FCF/Rev LTM | 13.1% |
| FCF/Rev 3Y Avg | 17.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 13.2 |
| P/S | 1.6 |
| P/Op Inc | 9.4 |
| P/EBIT | 9.6 |
| P/E | 7.7 |
| P/CFO | 7.1 |
| Total Yield | 10.4% |
| Dividend Yield | 0.8% |
| FCF Yield 3Y Avg | 10.0% |
| D/E | 1.0 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.2% |
| 3M Rtn | 12.8% |
| 6M Rtn | 13.3% |
| 12M Rtn | -8.6% |
| 3Y Rtn | -18.2% |
| 1M Excs Rtn | -9.0% |
| 3M Excs Rtn | 7.2% |
| 6M Excs Rtn | 0.9% |
| 12M Excs Rtn | -27.1% |
| 3Y Excs Rtn | -91.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cross-Border Payments | 1,782 | 1,686 | 1,555 | 1,444 | 1,401 |
| Payments Infrastructure | 1,284 | 1,161 | 1,058 | 924 | 591 |
| epay | 1,188 | 1,150 | 1,082 | 998 | 1,012 |
| Corporate Services, Eliminations and Other | -10 | -8 | -8 | -8 | -8 |
| Total | 4,244 | 3,990 | 3,688 | 3,359 | 2,996 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Payments Infrastructure | 279 | 256 | 206 | 184 | -0 |
| Cross-Border Payments | 207 | 201 | 185 | 154 | 120 |
| epay | 136 | 130 | 126 | 121 | 123 |
| Corporate Services, Eliminations and Other | -92 | -84 | -85 | -74 | -58 |
| Total | 530 | 503 | 433 | 385 | 184 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Payments Infrastructure | 3,014 | 2,762 | 2,442 | 2,151 | 1,683 |
| Cross-Border Payments | 1,885 | 1,746 | 1,921 | 1,796 | 1,622 |
| epay | 1,252 | 1,074 | 1,205 | 1,173 | 1,234 |
| Corporate Services, Eliminations and Other | 338 | 253 | 326 | 284 | 206 |
| Total | 6,489 | 5,834 | 5,894 | 5,404 | 4,744 |
Price Behavior
| Market Price | $69.21 | |
| Market Cap ($ Bil) | 2.7 | |
| First Trading Date | 03/07/1997 | |
| Distance from 52W High | -29.6% | |
| 50 Days | 200 Days | |
| DMA Price | $74.00 | $72.57 |
| DMA Trend | down | up |
| Distance from DMA | -6.5% | -4.6% |
| 3M | 1YR | |
| Volatility | 43.9% | 36.0% |
| Downside Capture | 57.84 | 88.51 |
| Upside Capture | 59.43 | 32.07 |
| Correlation (SPY) | 21.2% | 26.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.65 | 0.22 | 0.15 | 0.65 | 0.71 | 0.98 |
| Up Beta | -5.94 | -0.80 | -1.09 | 0.05 | 0.50 | 1.05 |
| Down Beta | 0.35 | 1.91 | 2.18 | 1.73 | 1.39 | 1.14 |
| Up Capture | -120% | -18% | -22% | 40% | 18% | 41% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 13 | 24 | 34 | 66 | 117 | 374 |
| Down Capture | -95% | -9% | -26% | 64% | 84% | 99% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 9 | 19 | 29 | 60 | 134 | 375 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EEFT | |
|---|---|---|---|---|
| EEFT | -28.0% | 36.0% | -0.85 | - |
| Sector ETF (XLF) | 11.6% | 14.5% | 0.53 | 44.3% |
| Equity (SPY) | 20.4% | 12.8% | 1.17 | 26.9% |
| Gold (GLD) | 29.8% | 28.5% | 0.91 | -4.7% |
| Commodities (DBC) | 40.2% | 20.2% | 1.56 | -17.4% |
| Real Estate (VNQ) | 13.1% | 13.9% | 0.65 | 29.1% |
| Bitcoin (BTCUSD) | -45.4% | 42.7% | -1.30 | 18.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EEFT | |
|---|---|---|---|---|
| EEFT | -12.0% | 35.6% | -0.28 | - |
| Sector ETF (XLF) | 10.4% | 18.4% | 0.43 | 57.1% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 53.3% |
| Gold (GLD) | 19.8% | 18.6% | 0.87 | 2.5% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | 5.8% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 45.4% |
| Bitcoin (BTCUSD) | 7.1% | 52.6% | 0.32 | 24.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EEFT | |
|---|---|---|---|---|
| EEFT | -1.2% | 36.5% | 0.07 | - |
| Sector ETF (XLF) | 13.5% | 22.0% | 0.56 | 58.4% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 57.2% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 1.2% |
| Commodities (DBC) | 7.8% | 18.1% | 0.35 | 18.7% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 49.8% |
| Bitcoin (BTCUSD) | 59.9% | 66.0% | 1.00 | 17.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/10/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -8.4% | -11.2% | |
| 4/29/2026 | -0.5% | -7.0% | -6.8% |
| 2/12/2026 | -3.3% | 1.2% | 1.3% |
| 10/23/2025 | -5.9% | -12.5% | -20.0% |
| 7/31/2025 | -1.8% | -6.7% | -5.0% |
| 4/24/2025 | 1.5% | 1.7% | 8.9% |
| 2/13/2025 | 10.1% | 12.3% | 8.3% |
| 10/24/2024 | 3.2% | -0.9% | 5.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 13 |
| # Negative | 14 | 14 | 10 |
| Median Positive | 1.5% | 4.0% | 8.4% |
| Median Negative | -3.3% | -6.1% | -10.9% |
| Max Positive | 10.1% | 12.3% | 54.9% |
| Max Negative | -20.0% | -25.0% | -27.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -8.4% | -11.2% | |
| 4/29/2026 | -0.5% | -7.0% | -6.8% |
| 2/12/2026 | -3.3% | 1.2% | 1.3% |
| 10/23/2025 | -5.9% | -12.5% | -20.0% |
| 7/31/2025 | -1.8% | -6.7% | -5.0% |
| 4/24/2025 | 1.5% | 1.7% | 8.9% |
| 2/13/2025 | 10.1% | 12.3% | 8.3% |
| 10/24/2024 | 3.2% | -0.9% | 5.9% |
| 7/19/2024 | -3.2% | -6.5% | -2.1% |
| 5/1/2024 | 1.6% | 9.5% | 10.8% |
| 2/7/2024 | 0.6% | 2.0% | 9.0% |
| 10/20/2023 | 8.9% | 2.9% | 10.1% |
| 7/26/2023 | -20.0% | -25.0% | -27.6% |
| 5/3/2023 | -0.4% | 3.2% | 4.0% |
| 2/8/2023 | -6.6% | -5.6% | -10.3% |
| 10/21/2022 | 1.1% | 4.7% | 8.4% |
| 7/28/2022 | -6.0% | -5.0% | -9.1% |
| 4/27/2022 | -2.1% | -5.6% | -11.4% |
| 2/10/2022 | 1.5% | -2.0% | -21.2% |
| 10/21/2021 | -6.5% | -13.6% | -16.4% |
| 7/28/2021 | 1.3% | -1.5% | 1.3% |
| 4/29/2021 | -2.2% | -5.2% | 2.1% |
| 2/10/2021 | 1.1% | 6.2% | 15.8% |
| 10/28/2020 | -0.1% | 7.4% | 54.9% |
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 13 |
| # Negative | 14 | 14 | 10 |
| Median Positive | 1.5% | 4.0% | 8.4% |
| Median Negative | -3.3% | -6.1% | -10.9% |
| Max Positive | 10.1% | 12.3% | 54.9% |
| Max Negative | -20.0% | -25.0% | -27.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/22/2021 | 10-K |
| 09/30/2020 | 11/02/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 7/31/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EPS Growth | 10.0% | 12.5% | 15.0% | 0.0% | Affirmed | Guidance: 12.5% for 2026 | |
Prior: Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted Earnings Growth | 10.0% | 12.5% | 15.0% | -1.5% | Lower New | Guidance: 14.0% for 2025 | |
| 2026 Annual Run-Rate Benefits | 40.00 Mil | ||||||
| 2026 Money Transfer Segment Margin Improvement | 0.5% | 0.63% | 0.75% | ||||
Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted Earnings Growth | 10.0% | 12.5% | 15.0% | -1.5% | Lower New | Guidance: 14.0% for 2025 | |
| 2026 Annual Run-Rate Benefits | 40.00 Mil | ||||||
| 2026 Money Transfer Segment Margin Improvement | 0.5% | 0.63% | 0.75% | ||||
Q3 2025 Earnings Reported 10/23/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Adjusted EPS Growth | 12.0% | 14.0% | 16.0% | 0.0% | Affirmed | Guidance: 14.0% for 2025 | |
Investor Activity (13F)
Updated Aug 19, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
EEFT Trade Sentinel
Neutral / Watch
CONVICTION RATIONALE
The company's digital businesses are growing revenue at 31% and now represent 26% of the total. However, its largest segment, Cross-Border Payments, saw revenue decline 4% amid policy headwinds. With operating expenses outpacing revenue growth and net debt nearly doubling to fund buybacks, the success of this transition remains unconfirmed.
STOCK ARCHETYPE
Transactional Network & Processing ServicesVolume of Transactions × (Average Fee/Commission/FX Margin per Transaction) Operating leverage from processing higher transaction volumes over a fixed network infrastructure, and a favorable mix shift towards higher-margin services like DCC, digital remittances, and software.
INVESTMENT THESIS
Evidence suggests a successful pivot is underway, as high-growth digital services now comprise a meaningful part of the business.
- Revenue from 'digital accelerators' increased 31% year-over-year in Q2 2026.
- Digital accelerators now represent 26% of total company revenue.
- The company affirmed its full-year 2026 adjusted EPS growth guidance of 10% to 15%.
- A new partnership with Mastercard Move for the Dandelion network was signed in Q2.
PRIMARY RISK
Core business erosion is being masked by debt-funded share repurchases, as operating income fell 14% in Q2 and operating margins are contracting.
- Cross-Border Payments segment revenue fell 4% in Q2 2026.
- TTM operating margin declined 1.4 percentage points to 11.6%.
- Net debt nearly doubled in the past year to $622.9 million.
- The company spent $509.4 million on share repurchases over the last twelve months.
- Accounts receivable grew 10.8% in Q2, far outpacing 3.2% revenue growth.
| KPI | Status | Rationale |
|---|---|---|
| Cross-Border Payments (CBP) Digital Transaction Growth | 33% year-over-year growth for Q2 2026 - Stable | Growth remains robust in the low-30% range, highlighting strong momentum in the company's key digital initiative, which management notes is supported by increased digital marketing spend. However, the rate of growth has slightly moderated from the prior quarter's 35% rate. |
| Cross-Border Payments (CBP) Total Transaction Volume Growth | -1% year-over-year for Q2 2026 - Turning around | Total transaction volume for the company's largest segment remains in decline, which management attributes to market-wide headwinds from U.S. immigration policies and the implementation of a U.S. remittance tax. The slight improvement in the rate of decline from Q1 to Q2 suggests potential stabilization off recent lows. |
| Active ATMs | (As of June 30, 2026) | Indicates the scale and physical reach of the Payments Infrastructure network. Growth signals network expansion. |
| epay POS Terminals | approximately (As of June 30, 2026) | Measures the size of the retail distribution network for prepaid digital content, a key asset for the epay segment. |
| Cross-Border Payments Digital Transactions Growth | increase YoY (Q2 2026) | Tracks the growth of the digital channel within the money transfer business, a key strategic accelerator for the company. |
Digital Transition vs. Core Business Erosion
BULL VIEW
Bulls believe the 31% growth from the digital accelerators, now 26% of revenue, is a successful pivot that will soon dominate the company's growth profile and justify current investments.
CORE TENSION
Can 31% revenue growth from the digital 26% of the business offset the -4% revenue decline in the core 40% of the business before margins erode further?
PREVAILING SENTIMENT
The most recent evidence favors the bears. The 14% year-over-year decrease in Q2 operating income shows that weakness in the larger, core business is currently overwhelming the digital growth.
BEAR VIEW
Bears see the 4% revenue decline in the core Cross-Border Payments segment and company-wide margin pressure as proof that the smaller digital businesses cannot offset the deterioration.
| Timeline | Event & Metric To Watch |
|---|---|
the fourth quarter | Mastercard Move Go-Live Watch: The partnership with Mastercard Move is expected to go live on the Dandelion network. |
10/20/2026 | Cross-Border Payments Weakness Persists Watch: Segment revenue and transaction growth, and management commentary on U.S. outbound remittance trends. |
10/20/2026 | Soft European Travel Spend Watch: Payments Infrastructure segment revenue, particularly commentary on European ATM volumes and DCC transactions during the peak summer season. |
10/20/2026 | Digital Growth Fails to Offset Watch: Growth rate of 'digital accelerators' versus the consolidated top and bottom line; any change to full-year EPS guidance. |
10/20/2026 | Next Earnings Report Watch: The company is scheduled to report its next quarterly earnings. |
10/21/2026 - 11/4/2026 | Peer Reports Highlight Underperformance Watch: Peer commentary on remittance volumes (WU) and merchant/consumer spending trends (GPN, FIS, PYPL) to contextualize Euronet's results. |
10/27/2026 | Peer PayPal Earnings Watch: Peer PayPal (PYPL) is scheduled to report earnings, offering insights into digital payments and consumer spending. |
November 15, 2026 | Credit Facility Maturity Watch: An uncommitted demand credit agreement matures. |
November 30, 2026 | Credit Facility Expiration Watch: An uncommitted non-revolving credit facility expires. |
by year-end | Marker Trax Certifications Watch: Marker Trax expects to achieve certification across all major U.S. slot machine systems and its first table management system. |
| Date | Event | Stock Impact |
|---|---|---|
2026-08-04 | Unibanca Partnership Announced Details: The company announced a multi-year SaaS agreement with Unibanca in Peru to deploy Euronet's CoreCard modern credit issuing platform. | +1.1% $73.47 -> $74.27 |
2026-07-30 | Full-Year Guidance Affirmed Details: Concurrent with its Q2 earnings, management affirmed its guidance for 2026 Adjusted EPS Growth. | -14.7% $83.67 -> $71.33 |
2026-07-30 | Q2 2026 Earnings Miss Details: The company reported Q2 revenue of $1,108.4 million, a 3% increase, and adjusted EPS of $2.82, a 10% increase. The stock reacted with a -15.0% two-day decline. | -14.7% $83.67 -> $71.33 |
2026-05-22 | Analyst and Investor Day Details: The company held an Analyst/Investor Day, where it introduced its 'digital accelerators' framework to highlight key growth initiatives. | +1.4% $66.50 -> $67.46 |
2026-04-29 | Q1 2026 Earnings Reported Details: The company reported Q1 results, highlighting 42% growth in digital revenue for Money Transfer. However, management noted 'persistent' pressure on the U.S. retail business. | -4.4% $75.72 -> $72.38 |
2026-02-12 | Q4 2025 Earnings Reported Details: The company reported results for Q4 2025, citing a 'challenging operating environment' and 'immigration policy uncertainty.' The stock had a two-day reaction of -3.0%. | -3.2% $70.19 -> $67.96 |
Position Sizing
4% - 6%
NORMAL POSITION
Sizing is volatility-based: EEFT trades at roughly 41% annualized options-implied volatility versus about 14% for the S&P 500 (3.0x the market), around the 71st percentile of its own trailing year. A 4% - 6% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
WU - The Western Union Company
Remittance Market Pure-PlayWestern Union offers more direct exposure to the global remittance market, as its revenue is approximately two times greater than Euronet's Cross-Border Payments segment.
PYPL - a business partner
Scaled Digital Payments Leadera business partner provides exposure to a much larger digital payments network with superior profitability, evidenced by its 18.4% operating margin compared to Euronet's 11.6%.
Euronet is a global payments conglomerate leveraging its vast physical network (ATMs, retail locations) to build higher-growth digital payment and cross-border infrastructure businesses.
The company operates a resilient, diversified portfolio of payment services. While its legacy ATM and physical money transfer businesses face macroeconomic headwinds and policy risks, they generate significant cash flow. This cash is being reinvested into a suite of 'digital accelerators' like the CoreCard issuing platform, merchant acquiring, and the Dandelion B payments network, which are growing and becoming a larger part of the business mix.
Signing additional large partners like Mastercard for the Dandelion network; continued double-digit growth in merchant acquiring and CoreCard revenue; stabilization or recovery in the U.S. outbound remittance market.
Sustained decline in European travel spending impacting the Payments Infrastructure segment; new regulations restricting Dynamic Currency Conversion (DCC) revenue; failure of digital accelerators to maintain growth.
Minor quarterly fluctuations in the number of ATMs or POS terminals; single-quarter softness in one travel corridor if offset by strength elsewhere.
Repricing Catalyst
Evidence that the 'digital accelerators' can consistently grow fast enough to offset the cyclical and policy-driven softness in the core remittance business, leading to sustained double-digit EPS growth.
Payments Infrastructure
$1.4B TTM (32% of Total) · 20% MarginWhat It Is
Provides electronic payment solutions including ATM services (cash withdrawal, deposit), outsourced ATM and POS management, card issuing, and merchant acquiring services to financial institutions and merchants. Also offers software solutions like the Ren Payments Platform.
Who Pays & How
Financial institutions pay for outsourced management of their ATM/POS networks and for transaction processing. Consumers pay directly or indirectly through their banks via interchange fees, surcharges, and foreign exchange margins on Dynamic Currency Conversion (DCC) transactions at Euronet's ATMs.
Competition
epay
$1.2B TTM (28% of Total) · 12% MarginWhat It Is
Provides distribution and processing for prepaid products, primarily digital media content (music, games, software) and mobile airtime top-ups, through a network of point-of-sale (POS) terminals at retailers.
Who Pays & How
Mobile phone operators and digital content providers pay commissions or processing fees for the distribution and sale of their prepaid products through Euronet's extensive retail network.
Competition
Cross-Border Payments
$1.8B TTM (40% of Total) · 10% MarginWhat It Is
Provides global money transfer services for consumers and businesses under the Ria, Xe, and Dandelion brands, enabling payments across countries and territories through a network of retail locations, digital apps, and bank/wallet connections.
Who Pays & How
Consumers and businesses sending money internationally pay transaction fees and a foreign exchange margin, which is the difference between wholesale and retail currency exchange rates.
Competition
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Transaction & Payment Processing Services Resources |
| PYMNTS |
| Payments Dive |
| The Paypers |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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