
WEX Inc.
NYSE•WEX
CEO: Ms. Melissa D. Smith
Sector: Technology
Industry: Software - Infrastructure
Listing Date: 2005-02-16
WEX Inc. operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings. This segment markets its products directly and indirectly to businesses and government agencies with fleets of commercial vehicles; and indirectly through co-branded and private label relationships. The Corporate Payments segment provides payment solutions, including embedded payments; and accounts payable automation and spend management solutions. This segment also markets its products directly and indirectly to customers in travel, fintech, insurance, consumer bill pay, and media verticals. The Benefits Solutions segment offers software-as-a-service (SaaS) platform for consumer directed healthcare benefits and full-service benefit enrollment solutions. In addition, its SaaS platform includes embedded payment solutions and plan administration services for consumer-directed health benefits; COBRA accounts; and benefit enrollment and administration services. Further, it offers custodial and depository services for health savings accounts; and markets its products through third-party administrators, financial institutions, payroll providers, and health plans. The company was formerly known as Wright Express Corporation and changed its name to WEX Inc. in October 2012. WEX Inc. was founded in 1983 and is based in Portland, Maine.
Contact Information
Market Cap
$5.41B
P/E (TTM)
19.1
29.5
Dividend Yield
--
52W High
$188.70
52W Low
$110.45
52W Range
Rank34Top 27.8%
4.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q3 2025 Data
Revenue
$691.80M+3.95%
4-Quarter Trend
EPS
$2.34-8.24%
4-Quarter Trend
FCF
$341.60M-1177.60%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Diluted EPS Increased Diluted EPS reached $6.07 for nine months 2025, marking a 3.1% increase versus $5.89 in the prior year.
Benefits Segment Revenue Growth Benefits segment adjusted operating income grew 13% to $258.5M for nine months 2025, driven by HSA deposit balances.
Strong Cash Position Total cash, cash equivalents, and restricted cash ended at $1.48B, an increase of $170M since December 31, 2024.
Q3 Revenue Momentum Total Q3 revenues were $691.8M, reflecting 4.0% growth compared to $665.5M in the same period last year.
Risk Factors
Economic Conditions Impact General economic conditions and market volatility may lead to demand decline across fuel, travel, and payment services.
Credit Loss Exposure Risk Failure to adequately assess and monitor credit risk could result in increased credit losses, including fraud losses.
Regulatory Scrutiny Increases Increasing scrutiny regarding environmental, social, and governance practices poses potential operational and compliance risks.
Technology System Failures Breaches or issues with technology systems or third-party providers could negatively impact reputation and liabilities.
Outlook
Acquire Mobility Portfolio Definitive agreement signed October 28, 2025, to acquire U.S. Mobility card program assets for $58.6M consideration.
Capital Structure Refinancing Issued $550.0M Senior Notes and $450.0M Incremental Term B-3 loans in March 2025 to fund operations and tender offer.
Share Repurchase Activity Completed $750.0M Tender Offer in March 2025; $173.9M remains authorized for future common stock repurchases.
Assessing Tax Law Impact Currently evaluating comprehensive impact of OBBBA provisions, including domestic research cost expensing changes starting 2025.
Peer Comparison
Revenue (TTM)
WEX$2.62B
ACIW$1.73B
BOX$1.15B
Gross Margin (Latest Quarter)
CLBT83.9%
QLYS83.6%
BOX79.5%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| CWAN | $6.99B | 17.8 | 25.8% | 29.5% |
| WEX | $5.41B | 19.1 | 25.8% | 34.8% |
| QLYS | $4.86B | 25.8 | 37.6% | 5.3% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.8%
Moderate Growth
4Q Net Income CAGR
7.9%
Profitability Improving
Cash Flow Stability
75%
Volatile Cash Flow
Research & Insights
Next earnings:Feb 4, 2026
EPS:$3.90
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 30, 2025|Revenue: $691.80M+4.0%|EPS: $2.34-8.2%MissForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Jul 24, 2025|Revenue: $659.60M-2.1%|EPS: $1.98+7.0%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 1, 2025|Revenue: $636.60M-2.5%|EPS: $1.84+17.2%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 20, 2025|Revenue: $2.63B+3.1%|EPS: $7.59+21.8%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Oct 24, 2024|Revenue: $665.50M+2.2%|EPS: $2.55+493.0%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Jul 25, 2024|Revenue: $673.50M+8.4%|EPS: $1.85-16.7%MissForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: Apr 25, 2024|Revenue: $652.70M+6.7%|EPS: $1.57-0.6%MissForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 23, 2024|Revenue: $2.55B+8.4%|EPS: $6.23+37.2%Miss