ROIC (Return on Invested Capital): [ROIC (Return on Invested Capital)]
Debt/Equity: N/A (Missing Liabilities)
Free Cash Flow Yield: [Free Cash Flow Yield]
Free Cash Flow Trend: [Free Cash Flow Trend]
2. Financial Trends
3. Historical Data
Year
Revenue
Net Income
Gross Profit
Op. Cash Flow
2024
1.76B
138.32M
1.20B
497.42M
2023
1.56B
33.14M
1.05B
248.25M
2022
1.39B
-424.86M
861.44M
37.15M
2021
1.27B
-117.21M
781.08M
65.69M
2020
984.37M
-166.87M
671.35M
148.05M
4. Competitive Advantage (Moat)
Type of Moat: Network Effect & Intangible Assets
Strength: Narrow
Description: Wix.com Ltd. has a first-mover advantage and expertise in democratizing emerging technologies, specifically with its AI-powered app building capabilities in Base 44. The established brand and marketing function, built over two decades, provides a competitive differentiator, allowing them to scale beyond early adopters.
5. Management Quality
CEO: Avishai Abrahami
Capital Allocation: Plans include potential M&A opportunities and continued share repurchases. They repurchased approximately 1,300,000 shares for approximately $175,000,000.
Tone: Optimistic
Key Quotes:
"We intend to do for software what we did for websites, enabling everybody to build applications without any need for a developer." - Avishai Abrahami
"I remain confident in our ability to drive long-term growth by delivering essential tools that help users, both new and old, adapt, operate, and succeed in any environment." - Nir Zohar
6. Growth Prospects
Total Addressable Market (TAM): The global website builder market is expected to reach $2.7 billion by 2026, growing at a CAGR of 9.5%.
Market Share: Wix is a leading player in the website builder market, with a market share of over 20%.
New Products/Services: The company is investing in new products and services, such as its AI-powered app builder, to expand its addressable market.
7. Scuttlebutt & Soft Data
Customer Reviews: [Trends in customer satisfaction]
Employee Feedback: [Glassdoor ratings, turnover]
Channel Checks: [Insights from suppliers or distributors]
8. Valuation
P/E Ratio: [Current vs. Historical vs. Peers]
EV/EBITDA: [Current vs. Historical vs. Peers]
DCF Fair Value: [Estimate]
9. Risks
[Risk 1]: Competition from other website builders (e.g., Squarespace, Shopify).
[Risk 2]: A downturn in the global economy could reduce demand for website building services.
[Risk 3]: The company's reliance on a freemium model makes it vulnerable to changes in conversion rates.