WEX Inc.(WEX)Earnings, Financials & Key Ratios

WEX•NYSE

$144.00

$4.99B mkt cap·17.0× P/E·Price updated May 6, 2026

SectorTechnology IndustryInfrastructure Software Sub-IndustryPayments and fintech infrastructure

AboutWEX Inc. provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements. This segment markets its products directly and indirectly to commercial and government vehicle fleet customers with small, medium, and large fleets, as well as with over-the-road and long haul fleets; and indirectly through co-branded and private label relationships. The Travel and Corporate Solutions segment provides payment solutions, including embedded payments; and accounts payable automation and spend management solutions. Its products include virtual cards that are used for transactions where no card is presented. This segment markets its products directly and indirectly to commercial and government organizations. The Health and Employee Benefit Solutions segment offers healthcare payment products and software-as-a-service consumer directed platforms for healthcare market, as well as payroll related and employee benefit products in Brazil. This segment markets its products through health plans, third-party administrators, financial institutions, payroll companies benefits consultants, software providers, and individuals. 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.Show more

Revenue$2.66B+1.2%
EBITDA$1.01B
Net Income$304M-1.8%
EPS (Diluted)8.47+12.9%
Gross Margin54.86%-9.4%
EBITDA Margin37.85%-1.3%
Operating Margin25.41%-2.7%
Net Margin11.43%-3.0%
ROE22.33%+19.4%
ROIC9.63%-5.9%
Debt/Equity3.94+31.8%
Interest Coverage2.76-0.4%

Technical→

WEX Key Insights

WEX Inc. (WEX) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.3%
✓Good 3Y average ROE of 18.8%
✓Share count reduced 13.1% through buybacks

✗Weaknesses

✗High debt to equity ratio of 3.9x
✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

WEX Price & Volume

WEX Inc. (WEX) stock price & volume — 10-year historical chart

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WEX Growth Metrics

WEX Inc. (WEX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years12.03%

5 Years11.27%

3 Years4.22%

TTM3.29%

Profit CAGR

10 Years11.55%

5 Years-

3 Years14.72%

TTM-1.55%

EPS CAGR

10 Years12.45%

5 Years-

3 Years23.47%

TTM14.82%

Return on Capital

10 Years7.52%

5 Years10.66%

3 Years12.95%

Last Year13.38%

WEX Recent Earnings

WEX Inc. (WEX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 10/12 qtrs (83%)●Beat Revenue 8/12 qtrs (67%)

Q2 2026Latest

Apr 22, 2026

EPS

$4.15

Est $4.08

+1.7%

Revenue

$674M

Est $672M

+0.3%

Q1 2026

Feb 4, 2026

EPS

$4.11

Est $3.91

+5.1%

Revenue

$673M

Est $661M

+1.8%

Q4 2025

Oct 29, 2025

EPS

$4.59

Est $4.45

+3.1%

Revenue

$692M

Est $659M

+4.9%

Q3 2025

Jul 23, 2025

EPS

$3.95

Est $3.69

+7.0%

Revenue

$660M

Est $668M

-1.2%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 22, 2026	$4.15vs $4.08+1.7%	$674Mvs $672M+0.3%
Q1 2026	Feb 4, 2026	$4.11vs $3.91+5.1%	$673Mvs $661M+1.8%
Q4 2025	Oct 29, 2025	$4.59vs $4.45+3.1%	$692Mvs $659M+4.9%
Q3 2025	Jul 23, 2025	$3.95vs $3.69+7.0%	$660Mvs $668M-1.2%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
FLYWFlywire CorporationDirect Competitor	2.09B	17.51	159.18	26.59%	6.65%	5.87%
PAYOPayoneer Global Inc.Direct Competitor	1.68B	4.86	25.58	7.68%	6.95%	9.84%	0.10
PRTHPriority Technology Holdings, Inc.Direct Competitor	430.83M	5.26	7.74	8.33%	5.84%
VVisa Inc.Product Competitor	611.6B	318.80	31.25	11.34%		58.9%	0.66
MAMastercard IncorporatedProduct Competitor	435.43B	491.89	29.78	16.42%		205.79%	2.45
AXPAmerican Express CompanyProduct Competitor	220.75B	321.90	20.93	8.44%		33.95%	1.73
GDOTGreen Dot CorporationProduct Competitor	697.9M	12.56	-7.02	20.69%		-10.77%	0.07
EVTCEVERTEC, Inc.Product Competitor	1.74B	28.16	12.80	10.21%	9.6%	11.07%	1.58

Compare WEX vs Peers

WEX Inc. (WEX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FLYW

Most directly comparable listed peer for WEX.

Scale Benchmark

vs XOM

Larger-name benchmark to compare WEX against a more recognizable public peer.

Peer Set

Compare Top 5

vs FLYW, PAYO, PRTH, V

WEX Income Statement

WEX Inc. (WEX) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	1.25B	1.49B	1.72B	1.56B	1.85B	2.35B	2.55B	2.63B	2.66B	2.7B
Revenue Growth %	23.32%	19.55%	15.48%	-9.5%	18.64%	27.02%	8.4%	3.15%	1.24%	3.29%
Cost of Goods Sold	514.28M	547.93M	659.77M	673.17M	702.2M	930.5M	973.3M	1.04B	1.2B	1.15B
COGS % of Revenue	41.19%	36.71%	38.28%	43.16%	37.94%	39.59%	38.2%	39.48%	45.14%	-
Gross Profit	734.29M▲ 0%	944.71M▲ 28.7%	1.06B▲ 12.6%	886.69M▼ 16.7%	1.15B▲ 29.5%	1.42B▲ 23.7%	1.57B▲ 10.9%	1.59B▲ 1.0%	1.46B▼ 8.2%	1.55B▲ 0%
Gross Margin %	58.81%	63.29%	61.72%	56.84%	62.06%	60.41%	61.8%	60.52%	54.86%	57.44%
Gross Profit Growth %	32.62%	28.66%	12.62%	-16.66%	29.51%	23.66%	10.89%	1%	-8.23%	-
Operating Expenses	500.87M	564.07M	678.08M	978.37M	806.4M	950.3M	927.6M	904.2M	783.6M	884.8M
OpEx % of Revenue	40.12%	37.79%	39.34%	62.72%	43.58%	40.43%	36.41%	34.4%	29.45%	-
Selling, General & Admin	347.99M	438.55M	535.68M	558.79M	646M	655.7M	755.8M	716.8M	717.2M	764.9M
SG&A % of Revenue	27.87%	29.38%	31.08%	35.82%	34.91%	27.89%	29.66%	27.27%	26.95%	-
Research & Development	0	0	0	0	74.2M	0	0	0	0	0
R&D % of Revenue	-	-	-	-	4.01%	-	-	-	-	-
Other Operating Expenses	152.88M	125.52M	142.4M	419.57M	86.2M	294.6M	171.8M	187.4M	66.4M	3M
Operating Income	233.42M▲ 0%	380.64M▲ 63.1%	385.84M▲ 1.4%	-91.67M▼ 123.8%	342M▲ 473.1%	469.8M▲ 37.4%	647.1M▲ 37.7%	686.3M▲ 6.1%	676M▼ 1.5%	665.2M▲ 0%
Operating Margin %	18.7%	25.5%	22.38%	-5.88%	18.48%	19.99%	25.4%	26.11%	25.41%	24.65%
Operating Income Growth %	47.25%	63.07%	1.37%	-123.76%	473.07%	37.37%	37.74%	6.06%	-1.5%	-
EBITDA	437.15M	580.44M	622.97M	170.25M	614.6M	733.7M	923.3M	1.01B	1.01B	951.7M
EBITDA Margin %	35.01%	38.89%	36.14%	10.91%	33.21%	31.21%	36.24%	38.34%	37.85%	35.27%
EBITDA Growth %	45.63%	32.78%	7.33%	-72.67%	260.99%	19.38%	25.84%	9.13%	-0.05%	-5.16%
D&A (Non-Cash Add-back)	203.72M	199.81M	237.13M	261.93M	272.6M	263.9M	276.2M	321.3M	331.1M	286.5M
EBIT	281.48M	343.64M	351.19M	-144M	293.1M	308M	573.4M	653.7M	663.8M	666.1M
Net Interest Income	-107.07M	-105.02M	-134.68M	-157.08M	-89.2M	-47.5M	-204.6M	-235.9M	-240.6M	-241.2M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	107.07M	105.02M	134.68M	157.08M	89.2M	47.5M	204.6M	235.9M	240.6M	241.2M
Other Income/Expense	-59.01M	-142.02M	-169.32M	-209.41M	-138.1M	-209.3M	-278.3M	-268.5M	-255.8M	-236.9M
Pretax Income	174.42M▲ 0%	238.62M▲ 36.8%	216.52M▼ 9.3%	-301.08M▼ 239.1%	203.9M▲ 167.7%	260.5M▲ 27.8%	368.8M▲ 41.6%	417.8M▲ 13.3%	420.2M▲ 0.6%	428.3M▲ 0%
Pretax Margin %	13.97%	15.99%	12.56%	-19.3%	11.02%	11.08%	14.47%	15.9%	15.79%	15.87%
Income Tax	15.45M	68.84M	61.22M	-20.6M	67.8M	93.1M	102.2M	108.2M	116.1M	118M
Effective Tax Rate %	8.86%	28.85%	28.28%	6.84%	33.25%	35.74%	27.71%	25.9%	27.63%	27.55%
Net Income	160.06M▲ 0%	168.29M▲ 5.1%	99.01M▼ 41.2%	-243.64M▼ 346.1%	100K▲ 100.0%	201.4M▲ 201300.0%	266.6M▲ 32.4%	309.6M▲ 16.1%	304.1M▼ 1.8%	310.4M▲ 0%
Net Margin %	12.82%	11.28%	5.74%	-15.62%	0.01%	8.57%	10.46%	11.78%	11.43%	11.5%
Net Income Growth %	581.14%	5.14%	-41.17%	-346.08%	100.04%	201300%	32.37%	16.13%	-1.78%	-1.55%
Net Income (Continuing)	158.97M	169.78M	155.29M	-280.48M	136.1M	167.4M	266.6M	309.6M	304.1M	310.3M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	9.22M	10.23M	166.45M	130.24M	254.11M	0	0	0	0	0
EPS (Diluted)	3.73▲ 0%	3.86▲ 3.5%	3.55▼ 8.0%	-6.40▼ 280.3%	0.00▲ 100.0%	4.50▲ 204445.5%	6.16▲ 36.9%	7.50▲ 21.8%	8.47▲ 12.9%	8.87▲ 0%
EPS Growth %	152.03%	3.49%	-8.03%	-280.28%	100.03%	-	36.89%	21.75%	12.93%	14.82%
EPS (Basic)	3.73	3.90	3.59	-6.40	0.00	4.54	6.23	7.59	8.57	-
Diluted Shares Outstanding	43.02M	43.57M	43.77M	43.84M	45.31M	44.72M	43.3M	41.3M	35.9M	35M
Basic Shares Outstanding	42.98M	43.16M	43.32M	43.84M	44.72M	44.4M	42.8M	40.8M	35.5M	34.5M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

WEX Balance Sheet

WEX Inc. (WEX) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	3.21B	3.4B	3.84B	3.5B	5.3B	6.82B	8.94B	8.52B	9.71B	10.71B
Cash & Short-Term Investments	531.43M	541.5M	981.38M	1.33B	2.21B	3.26B	4B	4.36B	5.24B	5.41B
Cash Only	508.07M	541.5M	981.38M	1.33B	1.26B	1.86B	975.8M	595.8M	905.8M	633.5M
Short-Term Investments	23.36M	0	0	0	948.68M	1.4B	3.02B	3.76B	4.33B	4.78B
Accounts Receivable	2.46B	2.58B	2.78B	2.09B	3.03B	3.44B	3.57B	3.01B	3.49B	4.35B
Days Sales Outstanding	717.94	631.92	588.23	489.53	596.71	534.43	511.32	417.83	478.24	522.61
Inventory	0	123.4M	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	82.2	-	-	-	-	-	-	-	-
Other Current Assets	150.24M	123.4M	83.1M	81.13M	68.59M	117.89M	1.37B	1.15B	988M	956.6M
Total Non-Current Assets	3.53B	3.37B	4.46B	4.68B	5.01B	4.71B	4.95B	4.81B	4.69B	4.71B
Property, Plant & Equipment	163.91M	187.87M	280.83M	273.37M	259.01M	269.12M	304.7M	261.2M	253.7M	255.2M
Fixed Asset Turnover	7.62x	7.95x	6.14x	5.71x	7.14x	8.73x	8.36x	10.06x	10.49x	10.53x
Goodwill	1.88B	1.83B	2.44B	2.69B	2.91B	2.73B	3.02B	2.98B	3.02B	4.12B
Intangible Assets	1.15B	1.03B	1.58B	1.55B	1.64B	1.47B	1.46B	1.26B	1.09B	1.1B
Long-Term Investments	72.43M	24.41M	50.96M	57.2M	80.37M	131.21M	66.8M	80.5M	94.2M	348.9M
Other Non-Current Assets	255.41M	284.23M	95.18M	92.27M	110.94M	95.89M	87.2M	202.7M	218.3M	878.2M
Total Assets	6.74B▲ 0%	6.77B▲ 0.5%	8.3B▲ 22.6%	8.18B▼ 1.4%	10.31B▲ 25.9%	11.53B▲ 11.9%	13.88B▲ 20.4%	13.32B▼ 4.0%	14.4B▲ 8.1%	15.43B▲ 0%
Asset Turnover	0.19x	0.22x	0.21x	0.19x	0.18x	0.20x	0.18x	0.20x	0.18x	0.18x
Asset Growth %	10.84%	0.47%	22.57%	-1.39%	25.95%	11.86%	20.41%	-4.04%	8.09%	24.93%
Total Current Liabilities	1.13B	2.31B	3.05B	2.74B	4.4B	6.29B	8.52B	8.33B	9.29B	10.22B
Accounts Payable	752.37M	814.74M	852.96M	647.09M	880.08M	1.23B	1.32B	952.7M	1.07B	1.71B
Days Payables Outstanding	533.98	542.74	471.88	350.86	457.46	480.53	496.37	335.1	325.25	450.9
Short-Term Debt	397.22M	216.52M	261.71M	169.18M	171.27M	214.44M	1.04B	1.29B	1.33B	1.63B
Deferred Revenue (Current)	26.59M	325.8M	5.17M	5.26M	0	8.09M	195.9M	0	0	438.4M
Other Current Liabilities	1.02B	954.51M	1.93B	1.92B	3.35B	4.84B	3.75B	5.1B	6.89B	6.87B
Current Ratio	2.83x	1.47x	1.26x	1.28x	1.20x	1.08x	1.05x	1.02x	1.05x	1.05x
Quick Ratio	2.83x	1.42x	1.26x	1.28x	1.20x	1.08x	1.05x	1.02x	1.05x	1.05x
Cash Conversion Cycle	-	171.39	-	-	-	-	-	-	-	71.71
Total Non-Current Liabilities	3.88B	2.66B	3.16B	3.41B	3.81B	3.59B	3.54B	3.51B	3.88B	3.93B
Long-Term Debt	2.03B	2.13B	2.69B	2.87B	2.7B	2.52B	2.83B	3.08B	3.53B	3.61B
Capital Lease Obligations	0	0	67.91M	82.97M	81.05M	70.64M	0	60.4M	0	0
Deferred Tax Liabilities	119.28M	151.69M	218.74M	220.12M	192.97M	142.16M	129.5M	145.6M	187.3M	705.6M
Other Non-Current Liabilities	455.16M	377.49M	181.91M	205.55M	785.97M	763.61M	585.3M	166M	159.1M	528M
Total Liabilities	5.02B	4.97B	6.21B	6.15B	8.21B	9.88B	12.06B	11.83B	13.16B	14.15B
Total Debt	2.42B	2.35B	3.02B	3.13B	2.95B	2.81B	3.87B	4.45B	4.86B	1.63B
Net Debt	1.92B	1.81B	2.03B	1.8B	1.69B	947.55M	2.89B	3.85B	3.95B	997.9M
Debt / Equity	1.41x	1.31x	1.44x	1.54x	1.41x	1.70x	2.12x	2.99x	3.94x	3.94x
Debt / EBITDA	5.55x	4.05x	4.84x	18.36x	4.80x	3.83x	4.19x	4.41x	4.82x	1.71x
Net Debt / EBITDA	4.39x	3.12x	3.27x	10.55x	2.75x	1.29x	3.13x	3.82x	3.92x	3.92x
Interest Coverage	2.63x	3.27x	2.61x	-0.92x	3.29x	6.48x	2.80x	2.77x	2.76x	2.76x
Total Equity	1.72B▲ 0%	1.8B▲ 4.4%	2.09B▲ 16.6%	2.04B▼ 2.8%	2.09B▲ 2.8%	1.65B▼ 21.2%	1.82B▲ 10.4%	1.49B▼ 18.2%	1.23B▼ 17.1%	1.27B▲ 0%
Equity Growth %	14.27%	4.38%	16.56%	-2.78%	2.84%	-21.18%	10.37%	-18.22%	-17.08%	-38.28%
Book Value per Share	39.99	41.22	47.83	46.42	46.19	36.88	42.05	36.05	34.39	36.41
Total Shareholders' Equity	1.71B	1.79B	1.93B	1.9B	1.84B	1.65B	1.82B	1.49B	1.23B	1.27B
Common Stock	473K	475K	477K	485K	492K	495K	500K	500K	500K	500K
Retained Earnings	1.4B	1.48B	1.54B	1.29B	1.29B	1.49B	1.76B	2.07B	2.37B	2.45B
Treasury Stock	-172.34M	-172.34M	-172.34M	-172.34M	-172.34M	-463.18M	-760.8M	-1.42B	-2.22B	0
Accumulated OCI	-90.8M	-117.29M	-115.45M	-82.94M	-122.52M	-306.34M	-229.2M	-312.3M	-128.1M	-178.3M
Minority Interest	9.22M	10.23M	166.45M	130.24M	254.11M	0	0	0	0	0

WEX Cash Flow Statement

WEX Inc. (WEX) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	132.95M	400.23M	663.17M	857.02M	150.4M	679.4M	907.9M	481.4M	454.3M	454.3M
Operating CF Margin %	10.65%	26.81%	38.47%	54.94%	8.13%	28.9%	35.63%	18.32%	17.07%	-
Operating CF Growth %	187.97%	201.04%	65.7%	29.23%	-82.45%	351.73%	33.63%	-46.98%	-5.63%	15169.6%
Net Income	159.17M	169.78M	155.29M	-280.48M	136.14M	167.5M	266.6M	309.6M	304.1M	310.4M
Depreciation & Amortization	203.72M	199.81M	237.13M	261.93M	272.64M	263.9M	276.2M	321.3M	331.1M	249.6M
Stock-Based Compensation	30.49M	33.89M	45.81M	63.86M	74.8M	97.9M	127M	112.2M	0	65.2M
Deferred Taxes	-888K	31.33M	19.67M	-29.34M	12.88M	-60.2M	-21.3M	0	43.6M	0
Other Non-Cash Items	85.17M	104.5M	104.47M	251.93M	72.92M	405.8M	264.8M	109.6M	189.5M	-123.8M
Working Capital Changes	-344.71M	-139.08M	100.81M	589.13M	-418.98M	-195.5M	-5.4M	-371.3M	-414M	181.5M
Change in Receivables	-542.02M	-201.64M	-67.64M	592.95M	-959.13M	-602.7M	-195.1M	325.2M	-400.6M	0
Change in Inventory	-2.38M	68.25M	0	164.8M	959.13M	0	0	0	0	0
Change in Payables	194.54M	-3.59M	139.19M	-183.71M	252.97M	348.7M	115.4M	-396.3M	-20.1M	0
Cash from Investing	-163.5M	-254.18M	-990.61M	-329.09M	-1.6B	-716.7M	-2.14B	-960.6M	-696.9M	-1.2B
Capital Expenditures	-79.28M	-87.15M	-102.86M	-80.47M	-86.04M	-112.9M	-143.6M	-147.3M	-213.7M	-204.1M
CapEx % of Revenue	6.35%	5.84%	5.97%	5.16%	4.65%	4.8%	5.64%	5.6%	8.03%	-
Acquisitions	-84.38M	-165.52M	-882.42M	-243.17M	-558.78M	0	-402M	-900K	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	25.5M	-4.27M	0	837K	0	-3.4M	-4.5M	-5M	4.8M	-100K
Cash from Financing	359.38M	-102.73M	749.77M	-179.26M	1.4B	681.3M	1.57B	-260.3M	418.9M	523.6M
Debt Issued (Net)	196.11M	-72.43M	582.02M	-172.09M	-237.75M	-129M	1.06B	514.5M	480.2M	-8.68B
Equity Issued (Net)	0	2.43M	0	90M	44.2M	-277.83M	-303.4M	-652M	-799.8M	-9.8M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-9.53M	0	0	0	0	-282.79M	-303.4M	-652M	-799.8M	-9.8M
Other Financing	163.27M	-32.73M	167.75M	-97.16M	1.6B	1.09B	813M	-122.8M	738.5M	9.21B
Net Change in Cash	317.14M▲ 0%	32.65M▼ 89.7%	426.35M▲ 1206.0%	348.27M▼ 18.3%	-72.81M▼ 120.9%	602.9M▲ 928.0%	370.3M▼ 38.6%	-793M▼ 314.2%	241.4M▲ 130.4%	-37.2M▲ 0%
Free Cash Flow	53.67M▲ 0%	313.08M▲ 483.3%	560.31M▲ 79.0%	776.55M▲ 38.6%	64.36M▼ 91.7%	563.2M▲ 775.1%	763.9M▲ 35.6%	334.1M▼ 56.3%	313.7M▼ 6.1%	459.6M▲ 0%
FCF Margin %	4.3%	20.97%	32.51%	49.78%	3.48%	23.96%	29.98%	12.71%	11.79%	17.03%
FCF Growth %	124.74%	483.3%	78.97%	38.59%	-91.71%	775.12%	35.64%	-56.26%	-6.11%	3806.45%
FCF per Share	1.25	7.18	12.80	17.71	1.42	12.59	17.64	8.09	8.74	8.74
FCF Conversion (FCF/Net Income)	0.83x	2.38x	6.70x	-3.52x	1503.98x	3.37x	3.41x	1.55x	1.49x	1.48x
Interest Paid	128.89M	141.48M	175.99M	0	132.2M	129.4M	247.9M	328.5M	0	0
Taxes Paid	6.68M	39.23M	50.96M	0	50.6M	142.8M	130.3M	131.9M	0	0

WEX Key Ratios

WEX Inc. (WEX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	9.92%	9.57%	5.09%	-11.8%	0%	10.76%	15.37%	18.71%	22.33%	26.96%
Return on Invested Capital (ROIC)	4.89%	7.88%	7.48%	-1.73%	6.74%	11.04%	13.28%	10.24%	9.63%	9.63%
Gross Margin	58.81%	63.29%	61.72%	56.84%	62.06%	60.41%	61.8%	60.52%	54.86%	57.44%
Net Margin	12.82%	11.28%	5.74%	-15.62%	0.01%	8.57%	10.46%	11.78%	11.43%	11.5%
Debt / Equity	1.41x	1.31x	1.44x	1.54x	1.41x	1.70x	2.12x	2.99x	3.94x	3.94x
Interest Coverage	2.63x	3.27x	2.61x	-0.92x	3.29x	6.48x	2.80x	2.77x	2.76x	2.76x
FCF Conversion	0.83x	2.38x	6.70x	-3.52x	1503.98x	3.37x	3.41x	1.55x	1.49x	1.48x
Revenue Growth	23.32%	19.55%	15.48%	-9.5%	18.64%	27.02%	8.4%	3.15%	1.24%	3.29%

WEX SEC Filings & Documents

WEX Inc. (WEX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 22, 2026·SEC

Material company update

Feb 4, 2026·SEC

Material company update

Jan 12, 2026·SEC

10-K Annual Reports

FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 20, 2025·SEC

10-Q Quarterly Reports

FY 2026

Apr 23, 2026·SEC

FY 2025

Oct 30, 2025·SEC

FY 2025

Jul 24, 2025·SEC

WEX Frequently Asked Questions

WEX Inc. (WEX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

WEX Inc. (WEX) reported $2.70B in revenue for fiscal year 2025. This represents a 1619% increase from $156.9M in 2003.

WEX Inc. (WEX) grew revenue by 1.2% over the past year. Growth has been modest.

Yes, WEX Inc. (WEX) is profitable, generating $310.4M in net income for fiscal year 2025 (11.4% net margin).

Dividend & Returns

WEX Inc. (WEX) has a return on equity (ROE) of 22.3%. This is excellent, indicating efficient use of shareholder capital.

WEX Inc. (WEX) generated $459.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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