Wolters Kluwer N.V.

WKL.AS

Software - Application · Technology

Also trades as: WTKWY

Price

€71.22

+0.44 (+0.62%)

Market Cap

€16.09B

Exchange

Euronext Amsterdam

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Strong

Cash Flow

Exceptional

Stability

Mixed

Valuation

Good

Dividends

Strong

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Share count falling — buybacks

−11.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 261.8M (2021) → 231.8M (2025)

Winston Score History

The full picture

Wolters Kluwer is a Dutch company that makes software, tools, and information services for professionals like doctors, lawyers, accountants, and tax experts. Its products help these workers do their jobs — for example, software that helps accountants file taxes or tools that help hospitals manage clinical decisions. It is one of the largest providers of professional information services in the world.

The company makes most of its money through subscriptions, meaning customers pay a recurring fee each year to keep using its software and data. Wolters Kluwer operates globally, with strong revenue across North America and Europe, and generates roughly €5 billion in annual revenue. Its main competitive advantage is that its products are deeply embedded in professional workflows, making them hard to switch away from — but the key risk is that artificial intelligence tools from larger tech companies could eventually replace some of the specialized research and compliance functions Wolters Kluwer currently provides.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+8.9% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

€724M/ year

↑ Rising (+5% vs prior year)

11.8% of revenue

Below sector average (15%)

Investing heavily in future products and technology

Insider Activity

0.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€1.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Wolters Kluwer N.V.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

74.4%

Premium pricing power — 74.4% gross margin

Profit after running costs

Operating Margin

26.9%

Excellent — 26.9% operating margin

Return on the money invested

ROCE

24.8%

Exceptional — 24.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+0.5%

Nearly flat sales (+0.5% YoY)

Profit growth

EPS YoY

+23.8%

Earnings growing fast (+23.8% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

127%

Turns 127% of profit into real cash

Spare cash per sale

FCF Margin

22.8%

Converts sales into free cash efficiently (22.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

5.71

Heavy debt load (5.71)

Covers its interest

Interest Cover

14.34x

Comfortably covers interest (14.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

12.0x

Attractive valuation — P/E 12.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+1.0

GROWING

Earnings roughly flat

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Dividends

Dividend

Dividend Yield

3.67%

Moderate income — 3.67% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+24.7%

Dividend growing fast (24.7% YoY)

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