Wawa stock could be a great way to cash in on one of the top Gas station companies in the country. But can you invest in Wawa? Get the full breakdown along with top competitor stocks.
Can You Buy Wawa Stock?
You cannot buy Wawa stock, as it’s a private company. However, there is a way to own Wawa stock that we will give the full rundown on. The good news is that this investment opportunity is also open to the public.
If you want to know how to own stock in Wawa and get a list of competitor stocks, keep reading.
Before we get into it, what is Wawa, and why is it so successful?
What Is Wawa?
Wawa is a chain of convenience stores that first opened in 1964.
The company is based in Pennsylvania and has since grown to 900+ locations. Nearly all Wawa locations are open 24 hours, 7 days a week, and its stores offer a large selection of highly sought-after food and beverages.
In fact, Wawa has built a solid reputation for its fresh coffee and made-to-order sandwiches (and hoagies).
Wawa wasn’t always a chain of gas stations. Surprisingly, the company had nothing to do with gasoline when it started. It was initially a dairy farm in New Jersey called the Wawa Dairy Farm.
The company that we know and love wouldn’t come into the picture until almost a century later. In 1890, George Wood moved to Pennsylvania to start a farm centered around dairy products.
But when did Wawa transition its company model? In 1964, Grahame Wood opened the first Wawa Food Market in Folsom, PA, and it remained open until 2016.
This was the first entry into the convenience store market for the company. At the time, convenience stores were becoming popular, so naturally, it didn’t take long for Wawa to see massive success.
Today, there are 900 locations with over 31,000 employees.
Given its history of explosive growth, we’ll likely see this number rise in the future. Wawa has spread from Pennsylvania to the North and South of the US east coast.
The convenience store chain currently has stores in the following states:
- Pennsylvania
- New Jersey
- Delaware
- Maryland
- Virginia
- Washington, D.C.
- Florida
With new Wawa stores planned to roll out in the future, the company’s generation of funds will likely only continue to grow.
Just because Wawa is so popular, it doesn’t mean that everyone loves it. The Philadelphia Inquirer has run articles on its website recently that show some city residents don’t want another Wawa.
Fortunately for Wawa, there are plenty of other states lining up to have its stations dotted across its roads and highways.
Who Owns Wawa?
According to Forbes, over 200 descendants of the Wood family own a little less than half of Wawa’s stock. Wawa employees own a little over 40% of the company through its employee stock ownership plan (ESOP).
What Is Wawa Worth?
Wawa’s net worth is not currently known, but there are some numbers that the company makes publicly available. It holds an estimated $1.6 billion in assets.
We’ll keep you in the loop if we catch wind of concrete numbers regarding the company’s net worth.
What Is Wawa’s Revenue?
Wawa reports that it generates gross annual revenue of over $13 billion. The company’s net sales revenue is approximately $118 million.
It’s important to remember that these are the numbers reported by Wawa, but they have not been independently verified by Wawa.
Why Is Wawa Successful?
Wawa is successful for several reasons.
For one, Wawa’s company and employee cultures are grounded in the core company values of caring, honesty, openness, and responsibility. This keeps both employees and customers satisfied.
The company is committed to making sure that its work culture is conducive to success — not just for the company, but for the individual.
Some benefits that the company offers include:
- Associates are offered employee ownership through Wawa’s ESOP
- Employees are offered benefits for health, vision, dental, and retirement
- A college education is promoted through its scholarship program
- The ownership structure is based on servant leadership
- Paid time off is accrued by employee
Wawa also goes out of its way to keep customers happy.
Some of the more recent programs offered to customers are listed below.
- Free Coffee Tuesday for rewards members in May
- Surcharge-free ATMs for all customer
- Seating in each convenience store location
- Customizable food and drinks through a touch screen station
- A market of fresh foods in some stores
This company is committed to providing associates and customers with perks that they can’t get anywhere else.
How to Buy Wawa Stock?
Wawa is not a publicly traded company, so its shares are not traded on a public exchange. That said, you can own Wawa shares through employee stock options.
This is a bummer for anyone who doesn’t work at Wawa, but it’s great for employees.
At this time, over 9,000 employees hold stock in the company. All eligible workers have a percentage of their earnings contributed to an ESOP.
Before ESOP was available, the company shared earnings with associates through a profit-sharing plan.
As you can see, the dedication to employees has been consistent throughout the Wawa’s history.
Wawa IPO Date
While there have been murmurings of a Wawa IPO years back, there doesn’t appear to be one in the lineup. Wawa is doing fine on its own and looks like it doesn’t need to raise any outside capital to increase its expansion.
The company has not recently stated any intention of having an IPO, and already offers stocks to employees.
There is no IPO date lined up, and Wawa will likely remain private until the foreseeable future.
Wawa Stock Symbol
Wawa is not a publicly traded company, so it does not have a stock symbol (AKA ticker symbol).
We won’t know what Wawa’s stock ticker is until the company submits an S-1 filing or reserves a ticker.
Some suitable tickers the company could consider are:
- WAWA
- WWA
- WAW
Wawa Stock Price
Wawa’s stock price is estimated to be $14,000 per share, up from $900 just 10 years ago. This is a ~1,455% increase in the company’s share price since Wawa’s ESOP was rolled out. Employees who held on to this stock when it was first offered could have made a pretty penny.
It’s important to note that Wawa does not appear to allow employees to sell their shares on private markets, so they would need to cash out through the company.
Wawa Competitors
If you’re looking for a company with similar growth or value as Wawa, take a look at some of its competitors below.
Keep in mind, however, that the majority of gas stations with cult-like followings are privately owned. This is because each company grew its fan base steadily over time, with stores with a more tailored feel.
Casey’s General Stores (NASDAQ: CASY)
Casey’s General Stores is a convenience store chain similar to Wawa.
The company is located in the Midwest. Right now, it’s a particularly hot stock, as it’s one of the stocks mentioned from time to time by The Motley Fool.
Some people believe that Casey’s stock is popular because it is one of the few convenience store stocks available.
Casey’s stock has seen gradual growth over the last five years, which is probably one of the reasons that the Motley Fool recommends it.
It hasn’t had a major fall since the beginning of the pandemic. The company made $9.175 billion in 2020.
Marathon Petroleum Corp. (NYSE: MPS)
If you want to buy shares of gas station stocks, then you may want to consider buying shares from a refinery instead. Marathon Petroleum is responsible for refining, marketing, and transporting fuel all over the country.
As such, it’s a big business that could be worth investing in.
Marathon isn’t just a chain of stores, as it also provides gasoline and fuel for other chains. In 2020, Marathon saw $20 billion in revenue. At the start of the pandemic, its stock price fell considerably, but since then, it has been building back up to what it was.
Fortunately, this rate of growth doesn’t look to be slowing down anytime soon.
If you want a stock that could grow in value over time as you hold it, consider Marathon.
Hess Corp. (NYSE: HES)
Going a step further into the energy industry, you have Hess. The Hess Corporation may be best known for its Hess stations, and of course, the always awaited Hess Trucks.
These holiday specials are offered every year and have been avidly collected by many for decades. Apart from that, Hess is so much more. The company is focused on crude oil and natural gas. And like Marathon, it’s responsible for supplying the product sold at its stations.
Hess offers an opportunity for portfolio diversification. While Hess is known for its gas stations, it’s more an energy company than anything else. This is what sets it apart from Wawa and Casey’s. The company itself, however, is smaller than Marathon when you look at the numbers.
In 2020, Hess made $6.4 billion in income.
Should You Buy Wawa if It Goes Public?
If Wawa becomes publicly traded, it might be a good idea to pick up some shares. The company has seen ongoing success and expansion for the past few years, and it shows no signs of slowing down.
If Wawa ever goes public, make sure to perform proper due diligence before investing.
Final Thoughts
Wawa is one of the most popular chains for anyone looking for fast, reliable service. What started as a dairy farm that offered home delivery has become a popular pit stop.
While Wawa is a gas station, it’s also a place to grab a bite to eat or a coffee.
The company is also a great place to be an employee, thanks to its many programs and promotions. If Wawa ever schedules an IPO, you can be sure that the stock price will be high.
For now, though, if you have your heart set on owning Wawa stock, you’ll have to become an employee.
Wawa Stock FAQ
Is Wawa a Public Stock?
Investors will be disappointed to learn that Wawa is not a public stock, as it’s a privately held company. This means that you cannot buy or sell Wawa shares on the stock market. Employees can hold shares of Wawa stock, but they can’t liquidate their positions on a secondary market.
Who Is the Parent Company of Wawa?
Wawa Inc does not have a parent company, as this gas station powerhouse is its own distinct entity. The company is not beholden to anyone other than the Wood family and its employees. This may change sometime in the future, but probably not anytime soon.
How Much Is Wawa ESOP Worth?
According to the Inquirer, the Wawa ESOP is roughly worth a stifling $2 billion. When the program initially rolled out, Wawa stock was only worth $900 per share. It’s reported that each stock is now worth somewhere around $14,000, which is a massive ~1,455% increase in price.
How Much Is the Wawa Family Worth?
We couldn’t find recent estimates of the Wawa family’s net worth, but many believed it was in the ballpark of $1.3 billion back in 2015. Given that employee stock options are now estimated to be worth over $2 billion, it could be fair to assume that the Wawa family net worth is closer to that.
How Much Does the CEO of Wawa Make?
Wawa’s CEO, Chris Gheysens, reportedly, makes around $230,000 a year (including base salary and bonus). This number can’t be verified, but it is the most widely reported (and feasible) number that we came across during our research into Wawa.
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