The UK stock exchange is home to some great companies. However, many of these companies do not receive the attention they deserve.

One company that I don’t think is getting enough investor attention is the international payments powerhouse Wise (LSE: WISE). In my opinion, this stock is a hidden gem in the UK market.

Good results for the fourth quarter of 2026

Today (April 13), Wise released a trading update for the fourth quarter of fiscal year 2026 (FY26). And the numbers are impressive, as usual.

During the quarter, cross-border transaction volume increased 26% year-on-year (27% on a constant currency basis) to £49.4 billion. Meanwhile, underlying income for the period of £435.3m increased by 24% on both a reported and constant currency basis.

At the end of the period, Wise had 11.3 million lively customers (+22% year-on-year). There were 572 thousand lively business customers. (+26%).

For FY26, cross-border transaction volumes increased by 25% to £181.7 billion. Underlying revenue was £1,609.2 billion, up 18% on a reported basis.

The market appears to be cheerful with the numbers. As I write this, Wise’s share price is up about 5%.

This means that since the beginning of the year the enhance in the company’s shares will be approximately 12%. That’s about twice the company’s profit FTSE100 index.

The bull case

From an investing perspective, these kinds of numbers are thrilling. However, there are a few other thrilling parts of the investing story that are worth highlighting.

One is that the company will soon move its primary listing to the United States but will maintain a secondary listing on the stock exchange London Stock Exchange. This could generate a lot of interest in shares – the US market is much larger than the UK market, and investors are also much more interested in growth companies.

So, while it’s a bit of a hidden gem today, it may not last long. I believe it will become more popular once it is listed on the US exchange, especially given its price-to-earnings ratio in the mid-2020s.

Another is that the company uses a business model based on “shared economies of scale.” This essentially involves continually lowering transfer prices to enhance customer loyalty and keep them coming back for more (note that the cross-border collection rate fell by 1 bps in Q4 to 51 bps).

Currently, many investors are discouraged by price cuts. However, this business model can actually be very effective because it really attracts customers. Amazon achieved great success with this model.

One more thing worth mentioning is that Wise has created a truly great product. I apply it all the time to send money abroad and I couldn’t be happier – payments are super speedy and extremely economical!

Chance?

When it comes to investment risks, one of them is competition from companies like Revolut. I don’t plan on switching to another provider anytime soon because the Wise platform is excellent, but competing services are a potential threat.

Another is the general economic slowdown. This may result in less money being transferred around the world.

Overall, though, I see a lot of appeal here considering the business model, growth generated and valuation. I think this company is worth taking a closer look at today, before it moves its main stock exchange to the US.