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Payments '24: B2B, SMB Payments
7 tickers · $181.19B total market cap
Group: Payments
The Payments '24 theme is bullish, driven by the massive, inefficient B2B and SMB payments market undergoing accelerated digital transformation. Attractive valuations, secular tailwinds from integrated payments, AI adoption, and cross-border expansion are expected to drive significant growth, despite ongoing competitive pressures and specific regulatory challenges.
Payments '24: B2B, SMB Payments tracks 7 publicly listed stocks in this theme: AVDX, BILL, CPAY, INTU, PAYX, QTWO, WEX. See the constituent table for details.
Thesis update: 2026-03-04
Constituents
Build 20260520T081747
| Company | Previous Quarter Report Date | Next Expected Report Date | Last Quarter Earnings Move % | Earnings Move % | Intra-Quarter Move % | Since Last Report % | Market cap | Weight |
|---|---|---|---|---|---|---|---|---|
Intuit Inc.INTU | 02/26/2026 (AMC) | 05/20/2026 (AMC) | 3.70% | — | -2.28% | — | $111.23B | 14.2857 |
Paychex, Inc.PAYX | 03/25/2026 (BMO) | 06/25/2026 (BMO) | 3.29% | — | 0.95% | — | $33.85B | 14.2857 |
Corpay, Inc.CPAY | 05/07/2026 (AMC) | 05/07/2026 (AMC) | 17.95% | 12.62% | -13.68% | -0.25% | $22.43B | 14.2857 |
WEX Inc.WEX | 04/22/2026 (BMO) | 04/22/2026 (BMO) | 2.95% | -12.83% | 19.52% | -8.84% | $4.89B | 14.2857 |
Bill.com Holdings, Inc.BILL | 05/07/2026 (AMC) | 05/07/2026 (AMC) | 37.16% | 12.84% | -23.05% | -9.75% | $3.76B | 14.2857 |
Q2 Holdings, Inc.QTWO | 04/29/2026 (AMC) | 04/29/2026 (AMC) | -5.99% | 1.18% | -1.35% | -6.94% | $2.96B | 14.2857 |
AvidXchange Holdings, Inc.AVDX | 08/06/2025 (BMO) | — | -0.10% | — | 1.32% | — | $2.08B | 14.2857 |
| Average | 8.42% | 3.45% | -2.65% | -6.44% | $25.88B | 14.2857 | ||
| Median | 3.29% | 6.90% | -1.35% | -7.89% | $4.89B | 14.2857 | ||
| Std Dev | 13.50% | 10.52% | 12.30% | 3.72% | $36.61B | 0.0% | ||
| Min | -5.99% | -12.83% | -23.05% | -9.75% | $2.08B | 14.2857 | ||
| Max | 37.16% | 12.84% | 19.52% | -0.25% | $111.23B | 14.2857 | ||
| % Positive Tickers | 71.43% | 75.00% | 42.86% | 0.00% |
* Provisional value: before LstRpt% reaches its 2-day post-report lock window (BMO/AMC adjusted), EarningsPerf is calculated from current vs pre-report and then locks to final LstRpt%.