WSO
WSO
Reduce 2026-04-10
Model
DCF
Price at Report
$403.88
Base IV
$410.95
Bear IV
$341.36
Bull IV
$509.82
Entry Zone: 160-200 · Sell Above: 450
Bore Family Office
Valuation Report — Wesco International, Inc. (WSO) • April 10, 2026
Unlevered DCF (FCFF @ WACC) • Discount Rate: 8.00% • Current Price: $403.88
Prepared by Lurch • Bore Family Office • Data: Finnhub, StockAnalysis.com, S&P Global Market Intelligence
🏢 Business Overview
Industrial distribution giant.📈 DCF Scenarios
$341
🔴 Bear
$411
📊 Base
$510
🚀 Bull
$403.88
Current Price
$300
Analyst Avg PT
| Scenario | Stage 1 (Yrs 1–5) | Stage 2 (Yrs 6–10) | Terminal g | WACC | Intrinsic Value | vs Price |
|---|---|---|---|---|---|---|
| 🔴 Bear | 2.0% | 1.0% | 1.0% | 8.00% | $341 | ▼15.5% |
| 📊 Base | 4.0% | 2.0% | 2.0% | 8.00% | $411 | ▲1.8% |
| 🚀 Bull | 6.0% | 3.0% | 3.0% | 8.00% | $510 | ▲26.2% |
📋 Full 10-Year Projection Tables
Bear Scenario
Stage 1: 2.0% | Stage 2: 1.0% | Terminal: 1.0%
| Period | Stage | FCFF | PV of FCFF | Cumulative EV |
|---|---|---|---|---|
| Year 1 | Stage 1 | $0.51B | $0.47B | $0.47B |
| Year 2 | Stage 1 | $0.52B | $0.45B | $0.92B |
| Year 3 | Stage 1 | $0.53B | $0.42B | $1.34B |
| Year 4 | Stage 1 | $0.54B | $0.40B | $1.74B |
| Year 5 | Stage 1 | $0.55B | $0.38B | $2.11B |
| Year 6 | Stage 2 | $0.56B | $0.35B | $2.46B |
| Year 7 | Stage 2 | $0.56B | $0.33B | $2.79B |
| Year 8 | Stage 2 | $0.57B | $0.31B | $3.10B |
| Year 9 | Stage 2 | $0.57B | $0.29B | $3.39B |
| Year 10 | Stage 2 | $0.58B | $0.27B | $3.66B |
| Terminal | — | TV=$8.4B | PV(TV)=$3.9B (51% of EV) | EV=$7.5B |
| Intrinsic Value | — | — | EV $7.5B − Net Debt → Equity / Shares | $341 |
How the price per share is derived: Each year's projected free cash flow is discounted back at WACC (8.00%) to get its present value. After Year 10, FCF grows at the terminal rate (1.0%) in perpetuity — the Gordon Growth formula gives a terminal value of FCF11 / (WACC − gT) = $8.4B. That terminal value is discounted back 10 years to today's dollars (PV of TV = $3.9B). Enterprise Value = PV of FCFs ($3.7B) + PV of TV ($3.9B) = $7.5B. Subtracting net debt gives equity value of $8.5B, divided by shares outstanding = $341 per share.
Base Scenario
Stage 1: 4.0% | Stage 2: 2.0% | Terminal: 2.0%
| Period | Stage | FCFF | PV of FCFF | Cumulative EV |
|---|---|---|---|---|
| Year 1 | Stage 1 | $0.52B | $0.48B | $0.48B |
| Year 2 | Stage 1 | $0.54B | $0.46B | $0.95B |
| Year 3 | Stage 1 | $0.56B | $0.45B | $1.39B |
| Year 4 | Stage 1 | $0.58B | $0.43B | $1.82B |
| Year 5 | Stage 1 | $0.61B | $0.41B | $2.24B |
| Year 6 | Stage 2 | $0.62B | $0.39B | $2.63B |
| Year 7 | Stage 2 | $0.63B | $0.37B | $3.00B |
| Year 8 | Stage 2 | $0.65B | $0.35B | $3.34B |
| Year 9 | Stage 2 | $0.66B | $0.33B | $3.67B |
| Year 10 | Stage 2 | $0.67B | $0.31B | $3.99B |
| Terminal | — | TV=$11.4B | PV(TV)=$5.3B (57% of EV) | EV=$9.3B |
| Intrinsic Value | — | — | EV $9.3B − Net Debt → Equity / Shares | $411 |
How the price per share is derived: Each year's projected free cash flow is discounted back at WACC (8.00%) to get its present value. After Year 10, FCF grows at the terminal rate (2.0%) in perpetuity — the Gordon Growth formula gives a terminal value of FCF11 / (WACC − gT) = $11.4B. That terminal value is discounted back 10 years to today's dollars (PV of TV = $5.3B). Enterprise Value = PV of FCFs ($4.0B) + PV of TV ($5.3B) = $9.3B. Subtracting net debt gives equity value of $10.3B, divided by shares outstanding = $411 per share.
Bull Scenario
Stage 1: 6.0% | Stage 2: 3.0% | Terminal: 3.0%
| Period | Stage | FCFF | PV of FCFF | Cumulative EV |
|---|---|---|---|---|
| Year 1 | Stage 1 | $0.53B | $0.49B | $0.49B |
| Year 2 | Stage 1 | $0.56B | $0.48B | $0.97B |
| Year 3 | Stage 1 | $0.60B | $0.47B | $1.45B |
| Year 4 | Stage 1 | $0.63B | $0.46B | $1.91B |
| Year 5 | Stage 1 | $0.67B | $0.46B | $2.36B |
| Year 6 | Stage 2 | $0.69B | $0.43B | $2.80B |
| Year 7 | Stage 2 | $0.71B | $0.41B | $3.21B |
| Year 8 | Stage 2 | $0.73B | $0.40B | $3.61B |
| Year 9 | Stage 2 | $0.75B | $0.38B | $3.98B |
| Year 10 | Stage 2 | $0.78B | $0.36B | $4.34B |
| Terminal | — | TV=$16.0B | PV(TV)=$7.4B (63% of EV) | EV=$11.7B |
| Intrinsic Value | — | — | EV $11.7B − Net Debt → Equity / Shares | $510 |
How the price per share is derived: Each year's projected free cash flow is discounted back at WACC (8.00%) to get its present value. After Year 10, FCF grows at the terminal rate (3.0%) in perpetuity — the Gordon Growth formula gives a terminal value of FCF11 / (WACC − gT) = $16.0B. That terminal value is discounted back 10 years to today's dollars (PV of TV = $7.4B). Enterprise Value = PV of FCFs ($4.3B) + PV of TV ($7.4B) = $11.7B. Subtracting net debt gives equity value of $12.7B, divided by shares outstanding = $510 per share.
🔲 Sensitivity Table
| WACC \ gT | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 6.0% | $554 | $598 | $655 | $731 | $837 |
| 6.5% | $502 | $536 | $578 | $633 | $705 |
| 7.0% | $459 | $486 | $518 | $559 | $611 |
| 7.5% | $424 | $445 | $470 | $502 | $541 |
| 8.0% | $394 | $411 | $431 | $456 | $486 |
| 8.5% | $368 | $382 | $399 | $418 | $442 |
| 9.0% | $346 | $357 | $371 | $387 | $406 |
| 9.5% | $326 | $336 | $347 | $360 | $376 |
| 10.0% | $309 | $317 | $327 | $338 | $350 |
Green = >10% above current price. Red = >10% below. Gold = within ±10%.
📉 Long-Term Price Trend Channel
Log-linear trend fitted to full price history. ±1.5σ bands. Green shaded zone = bottom 25% of historical range — historically attractive entry.
💡 Investment Thesis
<👔 Management Quality & Culture
CEO: Wesco International · Tenure: Since 2009 (~17 yrs)
Net Insider Buys (12m)
+10,058 shares
Incentive Alignment
⚠️ Moderate
Compensation: Equity-based compensation present
CEO Background & Track Record
WESCO International Inc: Executives - GlobalData
The executive section provides information on WESCO International Inc senior management, executives, CEO and key decision makers and their roles in the organization.
The executive section provides information on WESCO International Inc senior management, executives, CEO and key decision makers and their roles in the organization.
WESCO International, Inc. (WCC *) Leadership & Management Te
WESCO International's CEO is John Engel, appointed in Sep 2009, has a tenure of 16.42 years. total yearly compensation is $11.46M, comprised of 11.7% salary and 88.3% bonuses, including company stock and options. direc
WESCO International's CEO is John Engel, appointed in Sep 2009, has a tenure of 16.42 years. total yearly compensation is $11.46M, comprised of 11.7% salary and 88.3% bonuses, including company stock and options. direc
WESCO International, Inc. (WCC) Leadership & Management Team
WESCO International's CEO is John Engel, appointed in Sep 2009, has a tenure of 16.5 years. total yearly compensation is $11.46M, comprised of 11.7% salary and 88.3% bonuses, including company stock and options. direct
WESCO International's CEO is John Engel, appointed in Sep 2009, has a tenure of 16.5 years. total yearly compensation is $11.46M, comprised of 11.7% salary and 88.3% bonuses, including company stock and options. direct
Capital Allocation & Strategy
Wesco International Inc (WCC) 10K Annual Reports & 10Q SEC F
We also significantly strengthened ... Ascent. As we look to 2025, our pipeline of strategic acquisitions remains strong and is aligned with our goal to increase service offerings to our customers.”...
We also significantly strengthened ... Ascent. As we look to 2025, our pipeline of strategic acquisitions remains strong and is aligned with our goal to increase service offerings to our customers.”...
Wesco International Reports First Quarter 2024 Results
In addition to our strong cash ... our capital allocation strategies more aggressively while we continue to pursue accretive acquisitions," said John Engel, Chairman, President and CEO....
In addition to our strong cash ... our capital allocation strategies more aggressively while we continue to pursue accretive acquisitions," said John Engel, Chairman, President and CEO....
Employee Ratings
Overall Rating
3.7/5 ★★★★☆
Reviews
1,491
Culture Signal
Positive
✅ Strengths
- work-life balance
- recommend
Employee Review Excerpts
Working at Wesco: 1,491 Reviews | Indeed.com
1,491 reviews from Wesco employees about Wesco culture, salaries, benefits, work-life balance, management, job security, and more.
1,491 reviews from Wesco employees about Wesco culture, salaries, benefits, work-life balance, management, job security, and more.
WESCO International Reviews (1,159): Pros & Cons of Working
How satisfied are employees working at WESCO International?57% of WESCO International employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated WESCO International 3.7 out of 5 for work life balanc
How satisfied are employees working at WESCO International?57% of WESCO International employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated WESCO International 3.7 out of 5 for work life balanc
Wesco International Reviews: Pros And Cons of Working At Wes
Employees also rated Wesco International 4.0 out of 5 for work life balance, 3.6 for culture and values and 3.0 for career opportunities. Related searches: Wesco International jobs | Wesco International salaries | Wesco Int
Employees also rated Wesco International 4.0 out of 5 for work life balance, 3.6 for culture and values and 3.0 for career opportunities. Related searches: Wesco International jobs | Wesco International salaries | Wesco Int
Sources: Finnhub insider data · Brave Search (Glassdoor, Indeed, Comparably, news) · Earnings surprise data from analyst forecasts · Qualitative signals are directional only.
⚖️ DCF Verdict: Reduce — Wesco International, Inc. (WSO)
Current price: $403.88 | Analyst Avg PT: $300.00
$341
🔴 Bear
$411
📊 Base
$510
🚀 Bull
| Tier | Price | Action |
|---|---|---|
| Tier 1 — Starter | ≤$200 | Begin position |
| Tier 2 — Add | ≤$180 | Add on weakness |
| Tier 3 — Full | ≤$160 | Full allocation |
| Sell Alert | ≥$450 | Above fair value — consider trimming |
How tiers are set: Tier 1 = Base IV × 0.92 (8% discount to base case). Tier 2 = midpoint of Bear & Base IV (building on meaningful weakness). Tier 3 = Bear IV × 1.05 (just above worst-case — maximum margin of safety). Sell alert = Bull IV × 0.85 (15% discount to bull case — above fair value range).
Reduce position.
Bore Family Office • Analysis generated by Lurch • Not investment advice.