Skip to content
Compounder
← Stocks

Euronet Worldwide Inc

EEFTBelow value

Held by 3 superinvestors.

Price$70.07
Holders3
Total value$142.6M

SEC 10-K · fundamentals

Business quality

as of 2025-12-31

Valuation basis: trailing twelve months to 2026-06-30 — latest 10-K plus unaudited 10-Q filings.

Revenue growth
+6.4%
Net margin
7.3%
ROE
23.7%
FCF margin
10.2%
Revenue $2.48B → $4.24B · 6y
What makes a business high quality

Valuation · value band

Margin of safety

$81/ sh · growth-anchored intrinsic value
margin of safety
fair value
above fair value
$70
cheaperpricier

Zero-growth floor

$52

Central IV

$81

Optimistic top

$230

Euronet Worldwide Inc (EEFT): Two methods value the business — a conservative owner-earnings DCF and a growth-credited Greenwald estimate, $52–$230 / sh. Today’s price sits below both (price $70 as of 2026-08-21).

The middle figure is the main read. The right end is the optimistic case under the same conservative caps — not an absolute ceiling.

  • High financial leverage: the equity value here is a degraded approximation.

Revenue growth 3% (lower of historical trend and fundamental cap, capped by moat) · moat 10 yr · discount 10.6% · Zero-growth downside $52

Price as of 2026-08-21 · yahoo · DGS10 4.7% @ 2026-08-21.

Method & numbers

High leverage — ranges are a degraded approximation (see method).

Model cautions

  • Owner-earnings yield diverges sharply from the 10-year Treasury (over 300 bps).
  • The two methods’ midpoints differ materially — growth assumptions warrant review (over 20%).

A conservative intrinsic-value band (zero-growth floor to growth-capped DCF) plus a tangible asset floor — not investment advice, not a buy/sell signal, and not a price target.

Owner-earnings DCF $56.03 – $98.22 · Greenwald $131.69 – $229.87 (neutral $179.34) · zero-growth base $70.62 · reproduction $12.92

Moat Franchise (moat) · terminal value 47% of present value · owner-earnings yield 9% vs 10Y 4.7%.

Graham earnings-power value (normalized NOPAT)$52.05 – $70.62 / sh

Normalized NOPAT = average operating margin over the years shown × latest-year revenue × (1 − normalized tax); then + D&A − maintenance capex (write A). Unlevered (pre-interest, attributable to all capital). Capitalized at the 9–11% rate band (read as a WACC proxy). Enterprise → equity bridge applied: + cash − total debt.

Years: TTM 2026-06-30, 2024, 2023, 2022, 2021

v1 simplifications: Maintenance capex (degraded) deducted in full cash (write A): EPV = (NOPAT + D&A − maintenance capex) / WACC; no tax shield on the capex term. Maintenance-capex methods diverge by 118% (> 50%); estimate is degraded. Share-based compensation is left as a real expense (not added back).

Buffett owner-earnings value$56.24 – $68.74 / sh

Owner earnings = average net income + average D&A − maintenance capex (zero-growth floor; no ΔNWC). Levered (starts from net income, already after interest — an equity-holder stream). Capitalized at the 9–11% rate band (read as a cost-of-equity proxy). No enterprise→equity bridge: the capitalized result is already equity value (subtracting debt would double-count interest).

Years: TTM 2026-06-30, 2024, 2023, 2022, 2021

v1 simplifications: Owner earnings = net income + D&A − maintenance capex (degraded); the working-capital change is excluded (maintenance ΔNWC ≈ 0; growth ΔNWC is carried in growth value, not double-counted). Maintenance-capex methods diverge by 118% (> 50%); estimate is degraded. One-time items are not separately normalized (multi-year averaging smooths them partially). Share-based compensation is left as a real expense (not added back); see the SBC/OE disclosure. Capitalized at the 9–11% band as a cost-of-equity proxy; no leverage premium applied. Financial issuer (bank/insurer): net debt / owner earnings does not describe a deposit-funded balance sheet, so no leverage premium is applied here; leverage is instead handled by the reliability gate.

Asset floor: Reproduction value = tangible net assets + acquired-intangible reset proxy, ÷ diluted shares; tangible net assets alone are negative for this asset-light franchise (no R&D history to capitalize).

Moat reading: Franchise test compares earnings power (EPV) against reproduction value (tangible net assets + capitalized R&D). EPV well above reproduction value signals a moat; near it, a commodity; below it, value destruction. A directional reading, not a verdict.

Assumes a narrow moat · competitive-advantage period ≈ 10 years.

Growth value: if the moat holds for 10 yr at ROIIC ≈ 297%, $61.07–$159.25 / sh (neutral $108.72). Conservative, not a forecast.

Window TTM 2026-06-30, FY 2024, 2023, 2022, 2021 · discount band 9%–11% · normalized tax 21% (Average effective tax rate over 5 year(s), capped at the statutory 21%.) · diluted shares.

Owner-earnings DCF: growth g₁ 3% · OE FY TTM 2026-06-30, 2024, 2023, 2022, 2021 · Discount band: 9.24%–12.00% (DGS10 +4.5% to a 12% strict end, as of 2026-08-21). No enterprise→equity bridge: owner earnings already flow to shareholders (post-interest), so no net cash is added and no debt subtracted — matching the engine owner-earnings lamp. Two-method midpoint gap 76%.

High leverage (net debt / shareholders' equity above 1.0): for financial issuers the single 9–11% rate band is a low-leverage approximation that is not priced for leverage (financials are exempt from the leverage premium; see the reliability gate instead). The ranges are shown but should be read with that in mind.

Valuation basis: trailing twelve months to 2026-06-30 — latest 10-K plus unaudited 10-Q filings.

What the price is betting

Today's price pencils in about 0.7% a year in owner-earnings for the next few years. Revenue actually grew 10.9% a year.

Below what it has already done.

Roughly, the price needs its historical revenue growth to run about 2 more years to hold up.

Even when the value band is low-confidence: use this to see what the price assumes — not as a cheapness confirmation.

How to read intrinsic value

SEC 13F · holders

Superinvestors Holding This Security

3 holders · $142.6M combined · this quarter +0 opened / -0 exited

This quarter1 added1 trimmed
Holders 4 → 3 · last 8q

SEC 13F · notes

Written summary

Euronet Worldwide Inc (EEFT) is held by 3 of the superinvestors tracked on Compounder, with a combined $142.6M in reported 13F value. The largest position belongs to Andrew Brenton, where it makes up 4.9% of the portfolio.

Other notable holders by value include Wallace Weitz (0.8% of its book) and Ray Dalio (0.0% of its book).

Over the latest quarter, 0 of the tracked filers opened a new position in EEFT, 1 added to existing ones, 1 trimmed, and 0 sold out entirely.

Holder counts and values reflect the most recent SEC Form 13F filings, through the quarter ended 2026-06-30. Source: SEC EDGAR. A 13F shows only long US-listed positions and can lag the real portfolio by up to 45 days, so this is disclosed long ownership, not a complete picture.

How to read a 13F

SEC 13F · co-ownership

Also held by these investors

Investors holding Euronet Worldwide Inc (EEFT) also commonly hold →

See which stocks look cheap against a conservative value band. Browse all valued stocks

Also on

Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-08-14

Educational data only — not investment advice. 13F positions are self-reported and can lag up to 45 days.

Stay Updated

New-quarter 13F moves and valuation updates, to your inbox.