Guidewire Software, Inc. (GWRE)
NEUTRALFundamental
70
Kurs
$191.43
Marktkapitalisierung
$15.69B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Guidewire builds the software that property and casualty insurers use to run their core business: issuing policies, processing claims and billing customers. Insurers rent this software instead of maintaining their own aging systems built decades ago. Guidewire hosts it on its own cloud platform, handles the updates, and sells consulting and implementation services to help each insurer configure the system to its own products and rules.
Wie das Geld verdient wird
Most revenue is subscription and support fees paid over the life of a multi-year cloud contract, which recur every year the insurer keeps using the system. A smaller, declining share is term licenses for insurers still running the older on-premise version. Services revenue comes from the lengthy, hands-on projects needed to configure and migrate an insurer's policies onto the platform, which can take a year or more per customer.
Umsatz nach Segment
Recurring cloud-hosting and support fees paid by insurers running Guidewire's PolicyCenter, ClaimCenter and BillingCenter systems.
Term licenses sold mainly to insurers still running the older, self-hosted version of the software rather than the cloud platform.
Consulting and implementation work to configure and migrate an insurer's policies, claims and billing processes onto the platform.
Wettbewerbsvorteil
Wechselkosten · SchmalOnce an insurer has spent a year or more configuring its policies, rating rules and claims workflows inside Guidewire's system, ripping it out means redoing that work on a competing platform while keeping the business running. That friction, more than the software itself, is what keeps existing customers renewing rather than switching to a rival core-systems vendor.
Was die Nachfrage antreibt
Mäßig zyklischInsurers buy Guidewire's systems as multi-year technology investments funded from their own IT budgets, which they can defer or accelerate depending on their profitability and how urgently they need to replace aging systems. Demand is not driven by end-consumer spending, so it is less exposed to a typical recession, but a large contract's timing can still slip if an insurer's own results are under pressure.
Wichtigste Risiken
- Reliance on a small number of large customers — The company discloses that a relatively small number of large insurance customers generate a meaningful share of revenue, giving those customers substantial negotiating leverage on price and terms.
- Cloud market may not evolve as expected — Guidewire's strategy depends on insurers continuing to adopt cloud-based core systems; if that shift slows due to cost, security or reliability concerns, renewal rates and new sales could suffer.
- Long and unpredictable sales and implementation cycles — Selling to large insurers and then implementing the software involves lengthy, variable cycles that can take many months or years, making individual deals and their timing hard to predict.
- Competition from other core-systems and cloud vendors — The market for insurance core systems is competitive and changing quickly as customer preferences shift toward cloud deployment, and rivals or new entrants could erode Guidewire's position.
Kundenkonzentration
Die größten Kunden machen 22 % des Umsatzes aus
In fiscal 2024 Guidewire's ten largest customers together accounted for about 22% of total revenue, giving those large insurers meaningful leverage to negotiate price and contract terms at renewal time.
Die Argumente dafür
Buyers argue that the shift of large insurers onto Guidewire's cloud platform is still in its early stages, that the switching costs built into a fully configured core system make renewals highly likely, and that subscription revenue growing faster than the rest of the business signals durable, compounding demand.
Die Argumente dagegen
Sellers worry that a small number of very large customers hold real negotiating power over price, that long implementation projects make growth lumpy and hard to predict, and that newer, AI-native software vendors could eventually challenge Guidewire's position in a market it does not yet fully dominate.
Written by the editors, published on 18. August 2026
Direct competitors
Who this company fights with for the same customers
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Bilanz & Liquidität
Umsatz
$1.42B
Letzte 12 Monate (bis 30.4.2026)
Nettogewinn
$160M
Letzte 12 Monate (bis 30.4.2026)
Freier Cashflow
$295M
Gesamtes Eigenkapital
$1.46B
Gesamtverbindlichkeiten
$1.26B
Current Ratio
2.44
Zinsdeckungsgrad
8.83
Schulden/EBITDA
10.86
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$112.91
Aktueller Kurs
$191.43
Sicherheitsmarge
-69.5%
Innerer-Wert-Spanne
$73.39 - $152.43
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
103.17
ROE
4.8%
P/B-Verhältnis
12.13
P/FCF
47.36
Bruttomarge
64.0%
ROIC
4.5%
Rentabilitäts-Radar
Value Creation (Economic Moat)
ROIC
4.5%
WACC
9.5%
ROIC − WACC
-4.9 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamentalanalyse-Kriterien
Bestanden (19)
- EPS shows upward trend
- EPS CAGR 6.85%
- Price CAGR 14.39%
- Gross Margin 64.0%
- Debt/Equity ratio
- Operating Margin 8.2%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Return on Tangible Assets
- ROE 11.0%
- Revenue Growth 5Y 10.1%
- Analyst Consensus 86% Buy
- Earnings Surprise avg 22.9%
- Earnings Quality (OCF/NI) 2.19
- Share Dilution -1.2%
- Net Margin Trend 11.2% vs 3.0%
- Piotroski F-Score 8/9
Nicht bestanden (7)
- ROIC 4.5%
- P/FCF 47.36
- P/B Ratio 12.13
- Debt/EBITDA
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
Nicht verfügbar (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Starke finanzielle Gesundheit
Gewinnqualität
Hohe Qualität: Gewinne durch Cashflow gedeckt
Aktienverwässerung
Aktienrückkäufe. Aktionärsfreundlich
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Michael George Rosenbaum | CEO & Director | 53 |
| Mr. John Mullen | President | 52 |
| Mr. Jeffrey Elliott Cooper | Chief Financial Officer | 49 |
| Mr. David F. Peterson | Principal Accounting Officer & Chief Accounting Officer | 64 |
| Mr. James Winston King J.D. | Chief Administrative Officer, General Counsel & Secretary | 53 |
| Mr. Chet Mandair | Chief Information Officer | - |
| Mr. Garo Toomajanian | Investor Relations | - |
| Mr. Brian Desmond | Chief Marketing Officer | - |
| Ms. Brigette McInnis-Day | Chief People Officer | - |
| Mr. Steven Sherry | Senior Vice President of Strategic Accounts | 68 |
Prüfungsrisiko
1
Vorstandsrisiko
3
Vergütungsrisiko
4
Aktionärsrechterisiko
2
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Latest News
Recent headlines for GWRE, sourced from Markets Gazette.
- 6/4/2026NEGATIVEGuidewire Software Posts Better-Than-Expected Q3 Report, But Stock Drops
Guidewire Software reported Q3 results that surpassed analyst expectations, yet the company's stock experienced a decline. While specific figures were not detailed in the provided snippet, the market's reaction suggests that forward-looking guidance or other qualitative factors may have disappointed investors. This divergence between reported earnings and stock performance highlights the importance of future outlook and market sentiment in stock valuation, potentially signaling underlying concerns about future growth or competitive pressures despite current operational successes.
- 3/6/2026POSITIVEThese Analysts Revise Their Forecasts On Guidewire Software Following Q2 Results
Guidewire Software (GWRE) announced robust Q2 financial results, surpassing both revenue and earnings per share (EPS) expectations. The company further bolstered investor sentiment by elevating its fiscal year 2026 financial projections. This positive performance spurred a notable 4.7% surge in its stock price. While analyst sentiment shows some divergence, with price target adjustments in both directions, the company's strong operational execution and optimistic forward guidance suggest underlying strength. Investors should monitor the sustainability of this growth trajectory and the market's reaction to the mixed analyst outlook.
- 3/6/2026NEUTRALGuidewire (GWRE) Q2 2026 Earnings Call Transcript
The Q2 2026 earnings call transcript for Guidewire Software Inc. (GWRE) has been released. While the specific content is not available, the release of such transcripts is standard practice for publicly traded companies. Investors typically analyze these documents for details on financial performance, future outlook, business strategies, and management's responses to analyst questions. The availability of the transcript allows for in-depth analysis, but without specific content details, the stock's impact remains neutral pending further information.
via Markets Gazette