WEX Inc. (WEX) Financial Ratios
23 years of historical data (2003–2025) · Technology · Software - Infrastructure
EV/EBITDA
↓
8.31
↓-27% vs avg
5yr avg: 11.37
30Y Low4.4·High63.0
P/FCF
↓
14.09
↓-56% vs avg
5yr avg: 32.32
30Y Low1.6·High113.2
P/B Ratio
↑
3.71
↓-13% vs avg
5yr avg: 4.26
30Y Low1.7·High12.0
ROE
↑
22.3%
↓+66% vs avg
5yr avg: 13.4%
30Y Low-12%·High58%
Debt/EBITDA
↑
4.82
+9% vs avg
5yr avg: 4.41
30Y Low0.3·High18.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WEX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
WEX Inc. trades at 15.1x earnings, 100% below its 5-year average of 12784.5x, sitting at the 11th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 48%. On a free-cash-flow basis, the stock trades at 14.1x P/FCF, 56% below the 5-year average of 32.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.4B | $5.3B | $7.2B | $8.4B | $7.3B | $6.4B | $8.9B | $9.2B | $6.1B | $6.1B | $4.6B |
| Enterprise Value | $8.4B | $9.3B | $11.1B | $11.3B | $8.3B | $8.1B | $10.7B | $11.2B | $7.9B | $8.0B | $6.6B |
| P/E Ratio → | 15.06 | 17.59 | 23.38 | 31.58 | 36.37 | 63813.64 | — | 59.00 | 36.28 | 37.86 | 75.41 |
| P/S Ratio | 1.66 | 2.01 | 2.76 | 3.31 | 3.11 | 3.44 | 5.72 | 5.32 | 4.09 | 4.87 | 4.51 |
| P/B Ratio | 3.71 | 4.33 | 4.86 | 4.63 | 4.44 | 3.04 | 4.38 | 4.38 | 3.40 | 3.53 | 3.03 |
| P/FCF | 14.09 | 17.05 | 21.67 | 11.03 | 13.00 | 98.84 | 11.49 | 16.36 | 19.49 | 113.20 | — |
| P/OCF | 9.73 | 11.77 | 15.04 | 9.28 | 10.77 | 42.30 | 10.41 | 13.82 | 15.25 | 45.70 | — |
P/E links to full P/E history page with 30-year chart
WEX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
WEX Inc.'s enterprise value stands at 8.3x EBITDA, 27% below its 5-year average of 11.4x. The Technology sector median is 16.7x, placing the stock at a 50% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.50 | 4.22 | 4.44 | 3.52 | 4.35 | 6.87 | 6.50 | 5.30 | 6.40 | 6.50 |
| EV / EBITDA | 8.31 | 9.24 | 11.01 | 12.26 | 11.27 | 13.10 | 62.96 | 17.98 | 13.63 | 18.28 | 21.92 |
| EV / EBIT | 12.39 | 14.01 | 16.97 | 19.74 | 26.84 | 27.47 | — | 31.90 | 23.02 | 28.40 | 40.53 |
| EV / FCF | — | 29.65 | 33.20 | 14.81 | 14.68 | 125.12 | 13.80 | 19.99 | 25.27 | 148.92 | — |
WEX Profitability
Margins and return-on-capital ratios measuring operating efficiency
WEX Inc. earns an operating margin of 25.4%. ROE of 22.3% indicates solid capital efficiency. ROIC of 9.6% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.9% | 54.9% | 60.5% | 61.8% | 60.4% | 62.1% | 56.8% | 61.7% | 63.3% | 58.8% | 54.7% |
| Operating Margin | 25.4% | 25.4% | 26.1% | 25.4% | 20.0% | 18.5% | -5.9% | 22.4% | 25.5% | 18.7% | 15.7% |
| Net Profit Margin | 11.4% | 11.4% | 11.8% | 10.5% | 8.6% | 0.0% | -15.6% | 5.7% | 11.3% | 12.8% | 2.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.3% | 22.3% | 18.7% | 15.4% | 10.8% | 0.0% | -11.8% | 5.1% | 9.6% | 9.9% | 1.8% |
| ROA | 2.2% | 2.2% | 2.3% | 2.1% | 1.8% | 0.0% | -3.0% | 1.3% | 2.5% | 2.5% | 0.5% |
| ROIC | 9.6% | 9.6% | 10.2% | 13.3% | 11.0% | 6.7% | -1.7% | 7.5% | 7.9% | 4.9% | 4.3% |
| ROCE | 13.4% | 13.4% | 13.3% | 12.2% | 8.4% | 6.0% | -1.7% | 7.9% | 7.6% | 4.3% | 3.7% |
WEX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
WEX Inc. carries a Debt/EBITDA ratio of 4.8x, which is highly leveraged (64% above the sector average of 2.9x). Net debt stands at $4.0B ($4.9B total debt minus $906M cash). Interest coverage of just 2.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.94 | 3.94 | 2.99 | 2.12 | 1.70 | 1.41 | 1.54 | 1.44 | 1.31 | 1.41 | 1.46 |
| Debt / EBITDA | 4.82 | 4.82 | 4.41 | 4.19 | 3.83 | 4.80 | 18.36 | 4.84 | 4.05 | 5.55 | 7.35 |
| Net Debt / Equity | — | 3.20 | 2.59 | 1.59 | 0.57 | 0.81 | 0.88 | 0.97 | 1.01 | 1.11 | 1.34 |
| Net Debt / EBITDA | 3.92 | 3.92 | 3.82 | 3.13 | 1.29 | 2.75 | 10.55 | 3.27 | 3.12 | 4.39 | 6.71 |
| Debt / FCF | — | 12.60 | 11.52 | 3.79 | 1.68 | 26.27 | 2.31 | 3.63 | 5.78 | 35.71 | — |
| Interest Coverage | 2.76 | 2.76 | 2.77 | 2.80 | 6.48 | 3.29 | -0.92 | 2.61 | 3.27 | 2.63 | 1.43 |
WEX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.05x means WEX Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.05 | 1.05 | 1.02 | 1.05 | 1.08 | 1.20 | 1.28 | 1.26 | 1.47 | 2.83 | 2.52 |
| Quick Ratio | 1.05 | 1.05 | 1.02 | 1.05 | 1.08 | 1.20 | 1.28 | 1.26 | 1.42 | 2.83 | 2.53 |
| Cash Ratio | 0.56 | 0.56 | 0.52 | 0.47 | 0.52 | 0.50 | 0.49 | 0.32 | 0.23 | 0.47 | 0.23 |
| Asset Turnover | — | 0.18 | 0.20 | 0.18 | 0.20 | 0.18 | 0.19 | 0.21 | 0.22 | 0.19 | 0.17 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 4.44 | — | — |
| Days Sales Outstanding | — | 478.24 | 417.83 | 511.32 | 534.43 | 596.71 | 489.53 | 588.23 | 631.92 | 717.94 | 740.72 |
WEX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
WEX Inc. returns 18.1% to shareholders annually primarily through share buybacks. The earnings yield of 6.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 5.7% | 4.3% | 3.2% | 2.7% | 0.0% | — | 1.7% | 2.8% | 2.6% | 1.3% |
| FCF Yield | 7.1% | 5.9% | 4.6% | 9.1% | 7.7% | 1.0% | 8.7% | 6.1% | 5.1% | 0.9% | — |
| Buyback Yield | 18.1% | 15.0% | 9.0% | 3.6% | 3.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% |
| Total Shareholder Yield | 18.1% | 15.0% | 9.0% | 3.6% | 3.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% |
| Shares Outstanding | — | $36M | $41M | $43M | $45M | $45M | $44M | $44M | $44M | $43M | $41M |
Peer Comparison
Compare WEX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WEXYou | $4B | 15.1 | 8.3 | 14.1 | 54.9% | 25.4% | 22.3% | 9.6% | 4.8 |
 FLYW | $2B | 144.1 | 41.8 | 19.1 | 61.4% | 1.8% | 1.6% | 2.1% | — |
 PAYO | $2B | 36.9 | 10.5 | 11.4 | 78.1% | 11.8% | 10.2% | 30.7% | 0.4 |
 PRTH | $590M | 10.5 | 7.6 | 7.9 | 21.4% | 14.8% | — | 13.4% | 5.1 |
 V | $628B | 32.1 | 25.1 | 29.1 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
 MA | $434B | 29.6 | 21.5 | 25.6 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
 AXP | $232B | 22.0 | 15.5 | 14.5 | 83.2% | 17.1% | 34.0% | 12.0% | 3.7 |
 GDOT | $723M | -7.1 | -4.5 | 10.9 | 24.5% | 2.7% | -11.2% | 4.4% | 0.5 |
 EVTC | $2B | 11.7 | 7.8 | 11.7 | 49.7% | 20.0% | 23.0% | 10.2% | 3.7 |
 CWAN | $7B | -173.5 | 70.5 | 43.9 | 67.3% | 3.8% | -2.5% | 1.1% | 7.8 |
 XOM | $584B | 20.6 | 10.3 | 24.7 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 23 years · Updated daily
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WEX — Frequently Asked Questions
Quick answers to the most common questions about buying WEX stock.
What is WEX Inc.'s P/E ratio?
WEX Inc.'s current P/E ratio is 15.1x. The historical average is 29.9x. This places it at the 11th percentile of its historical range.
What is WEX Inc.'s EV/EBITDA?
WEX Inc.'s current EV/EBITDA is 8.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.7x.
What is WEX Inc.'s ROE?
WEX Inc.'s return on equity (ROE) is 22.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 17.2%.
Is WEX stock overvalued?
Based on historical data, WEX Inc. is trading at a P/E of 15.1x. This is at the 11th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are WEX Inc.'s profit margins?
WEX Inc. has 54.9% gross margin and 25.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does WEX Inc. have?
WEX Inc.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.