Last 48 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
WEX Inc.'s quarterly P/E stands at 17.2x, down 20.5% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 43.3% YoY to 6.6x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 17.03 | 17.23 | 15.45 | 17.12 | 18.55 | 21.69 | 27.39 | 20.81 | 24.20 | 38.31 | 24.56 | 111.96 | 20.69 |
| — | -20.5% | -43.6% | -17.7% | -23.4% | -43.4% | +11.5% | -81.4% | +17.0% | +30.0% | +21.3% | — | -59.6% | |
| P/S Ratio | 1.88 | 1.99 | 1.94 | 1.98 | 1.92 | 2.43 | 2.75 | 3.21 | 2.76 | 3.86 | 3.14 | 3.13 | 3.18 |
| — | -18.2% | -29.7% | -38.4% | -30.7% | -37.0% | -12.2% | +2.6% | -13.1% | +17.8% | +7.9% | +37.5% | +8.5% | |
| P/B Ratio | 4.20 | 4.20 | 4.22 | 4.90 | 5.16 | 7.63 | 4.71 | 5.10 | 4.17 | 5.67 | 4.57 | 4.81 | 4.47 |
| — | -44.9% | -10.3% | -3.9% | +23.8% | +34.7% | +3.0% | +6.0% | -6.6% | +18.0% | +4.8% | +39.8% | +15.7% | |
| P/FCF | 15.94 | — | 5.09 | 4.01 | 5.49 | — | 2.92 | — | — | — | 2.89 | 202.06 | 52.40 |
| — | — | +74.0% | — | — | — | +1.1% | — | — | — | -70.2% | +5583.4% | -95.7% | |
| EV / EBITDA | 8.89 | 6.62 | 9.22 | 10.89 | 10.09 | 11.68 | 11.28 | 11.34 | 11.07 | 13.88 | 10.76 | 11.15 | 11.29 |
| — | -43.3% | -18.3% | -3.9% | -8.8% | -15.8% | +4.9% | +1.6% | -2.0% | +22.5% | +16.7% | -49.1% | +12.3% | |
| EV / EBIT | 13.24 | 10.05 | 13.53 | 13.45 | 15.34 | 18.19 | 19.55 | 15.79 | 16.51 | 22.43 | 13.17 | 27.25 | 16.17 |
| — | -44.8% | -30.8% | -14.8% | -7.1% | -18.9% | +48.4% | -42.1% | +2.1% | +35.3% | +3.0% | — | -45.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
WEX Inc.'s operating margin was 23.5% in Q1 2026, down 1.3 pp QoQ and down 1.2 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 24.6% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.9% | 56.3% | 54.4% | 60.3% | 58.6% | 57.6% | 59.5% | 62.5% | 60.8% | 59.1% | 61.4% | 63.9% | 62.2% |
| — | -2.2% | -8.6% | -3.5% | -3.6% | -2.5% | -3.1% | -2.1% | -2.1% | -0.9% | +3.6% | +8.2% | -0.5% | |
| Operating Margin | 25.4% | 23.5% | 24.8% | 26.5% | 23.8% | 24.7% | 24.7% | 29.5% | 25.0% | 25.2% | 23.9% | 26.8% | 25.7% |
| — | -5.0% | +0.2% | -10.1% | -4.8% | -2.0% | +3.4% | +9.9% | -2.7% | -0.0% | -4.7% | +676.6% | -10.3% | |
| Net Margin | 11.4% | 11.5% | 12.5% | 11.6% | 10.3% | 11.2% | 10.0% | 15.5% | 11.4% | 10.1% | 12.8% | 2.8% | 15.3% |
| — | +2.7% | +24.8% | -24.9% | -9.7% | +11.4% | -21.6% | +447.4% | -25.5% | -9.3% | -10.7% | +139.5% | +169.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.3% | 6.2% | 7.2% | 7.7% | 7.6% | 6.2% | 4.0% | 5.9% | 4.3% | 3.7% | 4.8% | 1.1% | 5.5% |
| — | -0.4% | +77.5% | +28.8% | +76.0% | +70.1% | -16.4% | +459.9% | -22.0% | -10.7% | -10.7% | +141.5% | +204.1% | |
| ROA | 2.2% | 0.5% | 0.6% | 0.6% | 0.5% | 0.5% | 0.5% | 0.7% | 0.5% | 0.5% | 0.6% | 0.1% | 0.7% |
| — | -0.6% | +24.9% | -24.4% | -11.5% | +12.7% | -23.4% | +440.0% | -26.5% | -17.1% | -19.2% | +137.1% | +153.6% | |
| ROIC | 9.6% | 3.2% | 2.4% | 2.5% | 2.1% | 2.1% | 2.1% | 2.7% | 2.4% | 2.8% | 3.0% | 3.1% | 3.1% |
| — | +49.0% | +10.7% | -6.1% | -14.3% | -24.5% | -28.8% | -14.1% | -22.1% | -23.5% | -18.8% | +677.5% | +3.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
WEX Inc.'s Debt/EBITDA ratio is 6.8x, down from 19.6x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has declined for 5 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.94 | 1.28 | 3.94 | 4.49 | 5.56 | 6.89 | 2.94 | 2.73 | 2.36 | 2.36 | 2.17 | 2.13 | 1.82 |
| — | -81.4% | +33.9% | +64.6% | +135.6% | +192.1% | +35.6% | +28.3% | +29.5% | +34.9% | +27.4% | +23.8% | +12.6% | |
| Debt / EBITDA | 4.82 | 6.80 | 19.55 | 22.58 | 22.60 | 23.39 | 18.30 | 16.48 | 16.99 | 17.27 | 16.91 | 14.88 | 14.23 |
| — | -70.9% | +6.8% | +37.0% | +33.0% | +35.4% | +8.2% | +10.7% | +19.4% | +30.7% | +33.1% | -53.6% | +14.6% | |
| Current Ratio | 1.05 | 1.05 | 1.05 | 1.05 | 1.04 | 1.05 | 1.02 | 1.04 | 1.03 | 1.06 | 1.05 | 1.03 | 1.04 |
| — | +0.2% | +2.3% | +0.5% | +0.7% | -1.3% | -2.2% | +1.3% | -0.9% | -1.1% | -3.4% | -8.1% | -10.0% | |
| Quick Ratio | 1.05 | 1.05 | 1.05 | 1.05 | 1.04 | 1.05 | 1.02 | 1.04 | 1.03 | 1.06 | 1.05 | 1.03 | 1.04 |
| — | +0.2% | +2.3% | +0.5% | +0.7% | -1.3% | -2.2% | +1.3% | -0.9% | -1.1% | -3.4% | -8.1% | -10.0% | |
| Interest Coverage | 2.76 | 2.95 | 2.88 | 2.82 | 2.44 | 2.89 | 2.40 | 3.42 | 2.77 | 2.49 | 2.32 | 1.81 | 3.93 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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WEX Inc.'s current P/E is 17.0x. The average P/E over the last 4 quarters is 17.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
WEX Inc.'s current operating margin is 25.4%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking WEX Inc.'s business trajectory between earnings reports.