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WOLTF - Wolters Kluwer: Shift In Revenue Mix Is Key Re-Rating Catalyst
Wolters Kluwer N.V.
Wolters Kluwer managed to deliver positive revenue and earnings growth in FY 2020, as recurring revenue accounted for approximately 80% of its top line.
The key re-rating catalyst for Wolters Kluwer is a shift in revenue mix toward higher-margin, recurring sources, but print and non-recurring revenue could still remain a drag in the near term.
Wolters Kluwer trades at consensus forward FY 2021 and FY 2022 P/E multiples of 21.6 times and 20.4 times, respectively.