Last 47 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 17.1x, down 17.7% year-over-year — suggesting improving earnings relative to price.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 19.89 | 17.12 | 18.55 | 21.69 | 27.39 | 20.81 | 24.20 | 38.31 | 24.56 | 111.96 | 20.69 | 29.47 | 20.25 |
| — | -17.7% | -23.4% | -43.4% | +11.5% | -81.4% | +17.0% | +30.0% | +21.3% | — | -59.6% | +29.5% | — | |
| P/S Ratio | 1.95 | 1.98 | 1.92 | 2.43 | 2.75 | 3.21 | 2.76 | 3.86 | 3.14 | 3.13 | 3.18 | 3.28 | 2.91 |
| — | -38.4% | -30.7% | -37.0% | -12.2% | +2.6% | -13.1% | +17.8% | +7.9% | +37.5% | +8.5% | -16.2% | -8.1% | |
| P/B Ratio | 4.14 | 4.90 | 5.16 | 7.63 | 4.71 | 5.10 | 4.17 | 5.67 | 4.57 | 4.81 | 4.47 | 4.80 | 4.36 |
| — | -3.9% | +23.8% | +34.7% | +3.0% | +6.0% | -6.6% | +18.0% | +4.8% | +39.8% | +15.7% | +14.3% | +44.9% | |
| P/FCF | 15.32 | 4.01 | 5.49 | — | 2.92 | — | — | — | 2.89 | 202.06 | 52.40 | — | 9.71 |
| — | — | — | — | +1.1% | — | — | — | -70.2% | +5583.4% | -95.7% | — | -17.9% | |
| EV / EBITDA | 8.90 | 10.89 | 10.09 | 11.68 | 11.28 | 11.34 | 11.07 | 13.88 | 10.76 | 11.15 | 11.29 | 11.33 | 9.22 |
| — | -3.9% | -8.8% | -15.8% | +4.9% | +1.6% | -2.0% | +22.5% | +16.7% | -49.1% | +12.3% | -18.1% | -17.5% | |
| EV / EBIT | 13.07 | 13.45 | 15.34 | 18.19 | 19.55 | 15.79 | 16.51 | 22.43 | 13.17 | 27.25 | 16.17 | 16.57 | 12.79 |
| — | -14.8% | -7.1% | -18.9% | +48.4% | -42.1% | +2.1% | +35.3% | +3.0% | — | -45.3% | +1.9% | -15.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
WEX Inc.'s operating margin was 26.5% in Q3 2025, up 2.8 pp QoQ and down 3.0 pp YoY. The trailing four-quarter average of 24.9% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 3.5% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.5% | 60.3% | 58.6% | 57.6% | 59.5% | 62.5% | 60.8% | 59.1% | 61.4% | 63.9% | 62.2% | 59.6% | 59.3% |
| — | -3.5% | -3.6% | -2.5% | -3.1% | -2.1% | -2.1% | -0.9% | +3.6% | +8.2% | -0.5% | -2.2% | -3.2% | |
| Operating Margin | 26.1% | 26.5% | 23.8% | 24.7% | 24.7% | 29.5% | 25.0% | 25.2% | 23.9% | 26.8% | 25.7% | 25.2% | 25.1% |
| — | -10.1% | -4.8% | -2.0% | +3.4% | +9.9% | -2.7% | -0.0% | -4.7% | +676.6% | -10.3% | +6.7% | +15.2% | |
| Net Margin | 11.8% | 11.6% | 10.3% | 11.2% | 10.0% | 15.5% | 11.4% | 10.1% | 12.8% | 2.8% | 15.3% | 11.1% | 14.3% |
| — | -24.9% | -9.7% | +11.4% | -21.6% | +447.4% | -25.5% | -9.3% | -10.7% | +139.5% | +169.1% | -53.2% | +706.6% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.7% | 7.7% | 7.6% | 6.2% | 4.0% | 5.9% | 4.3% | 3.7% | 4.8% | 1.1% | 5.5% | 4.1% | 5.4% |
| — | +28.8% | +76.0% | +70.1% | -16.4% | +459.9% | -22.0% | -10.7% | -10.7% | +141.5% | +204.1% | -33.0% | +1049.1% | |
| ROA | 2.3% | 0.6% | 0.5% | 0.5% | 0.5% | 0.7% | 0.5% | 0.5% | 0.6% | 0.1% | 0.7% | 0.6% | 0.8% |
| — | -24.4% | -11.5% | +12.7% | -23.4% | +440.0% | -26.5% | -17.1% | -19.2% | +137.1% | +153.6% | -50.6% | +737.6% | |
| ROIC | 10.2% | 2.5% | 2.1% | 2.1% | 2.1% | 2.7% | 2.4% | 2.8% | 3.0% | 3.1% | 3.1% | 3.7% | 3.7% |
| — | -6.1% | -14.3% | -24.5% | -28.8% | -14.1% | -22.1% | -23.5% | -18.8% | +677.5% | +3.2% | +62.3% | +88.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
WEX Inc.'s Debt/EBITDA ratio is 22.6x — elevated, raising questions about debt serviceability. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.99 | 4.49 | 5.56 | 6.89 | 2.94 | 2.73 | 2.36 | 2.36 | 2.17 | 2.13 | 1.82 | 1.75 | 1.70 |
| — | +64.6% | +135.6% | +192.1% | +35.6% | +28.3% | +29.5% | +34.9% | +27.4% | +23.8% | +12.6% | +14.9% | +20.8% | |
| Debt / EBITDA | 4.41 | 22.58 | 22.60 | 23.39 | 18.30 | 16.48 | 16.99 | 17.27 | 16.91 | 14.88 | 14.23 | 13.21 | 12.71 |
| — | +37.0% | +33.0% | +35.4% | +8.2% | +10.7% | +19.4% | +30.7% | +33.1% | -53.6% | +14.6% | -14.9% | -22.9% | |
| Current Ratio | 1.02 | 1.05 | 1.04 | 1.05 | 1.02 | 1.04 | 1.03 | 1.06 | 1.05 | 1.03 | 1.04 | 1.07 | 1.08 |
| — | +0.5% | +0.7% | -1.3% | -2.2% | +1.3% | -0.9% | -1.1% | -3.4% | -8.1% | -10.0% | -11.0% | -10.1% | |
| Quick Ratio | 1.02 | 1.05 | 1.04 | 1.05 | 1.02 | 1.04 | 1.03 | 1.06 | 1.05 | 1.03 | 1.04 | 1.07 | 1.08 |
| — | +0.5% | +0.7% | -1.3% | -2.2% | +1.3% | -0.9% | -1.1% | -3.4% | -8.1% | -10.0% | -11.0% | -10.1% | |
| Interest Coverage | 2.91 | 2.88 | 2.41 | 2.97 | 2.74 | 3.36 | 2.81 | 2.73 | 1.93 | 3.19 | 3.97 | 2.92 | 4.46 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonWEX Inc.'s current P/E is 19.9x. The average P/E over the last 4 quarters is 21.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
WEX Inc.'s current operating margin is 26.1%. Margins have been expanding 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.