WEX Inc. (WEX) Revenue History
Annual and quarterly revenue from 2003 to present
WEX Revenue Over Time (2003–2025)
WEX Revenue Growth History
20 of 22 years with positive growth- FY2003 revenue growth
- N/A
- FY2004 revenue growth
- +20.5%
- FY2005 revenue growth
- +27.6%
- FY2006 revenue growth
- +20.7%
- FY2007 revenue growth
- +15.4%
- FY2008 revenue growth
- +17.1%
- FY2009 revenue growth
- -19.9%
- FY2010 revenue growth
- +23.9%
- FY2011 revenue growth
- +41.7%
- FY2012 revenue growth
- +12.7%
- FY2013 revenue growth
- +15.1%
- FY2014 revenue growth
- +14.0%
- FY2015 revenue growth
- +4.5%
- FY2016 revenue growth
- +18.5%
- FY2017 revenue growth
- +23.3%
- FY2018 revenue growth
- +19.5%
- FY2019 revenue growth
- +15.5%
- FY2020 revenue growth
- -9.5%
- FY2021 revenue growth
- +18.6%
- FY2022 revenue growth
- +27.0%
- FY2023 revenue growth
- +8.4%
- FY2024 revenue growth
- +3.1%
- FY2025 revenue growth
- +1.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $673.8M | +5.8% |
| Q4 2025 | $672.9M | +5.7% |
| Q3 2025 | $691.8M | +4.0% |
| Q2 2025 | $659.6M | -2.1% |
| Q1 2025 | $636.6M | -2.5% |
| Q4 2024 | $636.5M | -4.0% |
| Q3 2024 | $665.5M | +2.2% |
| Q2 2024 | $673.5M | +8.4% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
WEX's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
WEX Revenue Analysis (2003–2025)
Current Revenue & Growth
As of June 22, 2026, WEX Inc. (WEX) generated trailing twelve-month (TTM) revenue of $2.70 billion, reflecting solid growth of +5.8% year-over-year. The most recent quarter (Q1 2026) recorded $673.8 million in revenue, up 0.1% sequentially.
Historical Growth Trajectory
WEX's 5-year compound annual growth rate (CAGR) stands at +11.3%, indicating consistent double-digit revenue growth. The 3-year CAGR of +4.2% is below the 5-year average, signalling a growth deceleration in recent years. WEX Inc.'s highest annual revenue of $2.66 billion was recorded in 2025, an all-time high.
Revenue by Segment
WEX's revenue is primarily driven by Payment Processing Revenue (43%), Account Servicing Revenue (27%), and Product and Service, Other (18%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Technology sector peers — including FLYW (+36772.8% YoY), PAYO (+7.2% YoY), and PRTH (+8.8% YoY) — WEX has underperformed the peer group in revenue growth. Compare WEX vs FLYW →
WEX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| WEXCurrent | $2.7B | +5.8% | +11.3% | 25.4% | |
 FLYW | $623M | +36772.8% | +36.4% | 1.8% | |
 PAYO | $1.1B | +7.2% | +25.0% | 11.8% | |
 PRTH | $953M | +8.8% | +18.7% | 14.8% | |
 V | $40.0B | - | - | 60.0% | |
 MA | $32.8B | - | - | 59.2% |
WEX Historical Revenue Data (2003–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.66B | +1.2% | $1.46B | 54.9% | $676.0M | 25.4% |
| 2024 | $2.63B | +3.1% | $1.59B | 60.5% | $686.3M | 26.1% |
| 2023 | $2.55B | +8.4% | $1.57B | 61.8% | $647.1M | 25.4% |
| 2022 | $2.35B | +27.0% | $1.42B | 60.4% | $469.8M | 20.0% |
| 2021 | $1.85B | +18.6% | $1.15B | 62.1% | $342.0M | 18.5% |
| 2020 | $1.56B | -9.5% | $886.7M | 56.8% | $-91,673,000 | -5.9% |
| 2019 | $1.72B | +15.5% | $1.06B | 61.7% | $385.8M | 22.4% |
| 2018 | $1.49B | +19.5% | $944.7M | 63.3% | $380.6M | 25.5% |
| 2017 | $1.25B | +23.3% | $734.3M | 58.8% | $233.4M | 18.7% |
| 2016 | $1.01B | +18.5% | $553.7M | 54.7% | $158.5M | 15.7% |
| 2015 | $854.6M | +4.5% | $449.5M | 52.6% | $228.8M | 26.8% |
| 2014 | $817.6M | +14.0% | $458.4M | 56.1% | $306.2M | 37.5% |
| 2013 | $717.5M | +15.1% | $425.0M | 59.2% | $276.7M | 38.6% |
| 2012 | $623.2M | +12.7% | $369.1M | 59.2% | $221.6M | 35.6% |
| 2011 | $553.1M | +41.7% | $345.3M | 62.4% | $233.3M | 42.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
23+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
WEX — Frequently Asked Questions
Quick answers to the most common questions about buying WEX stock.
Is WEX's revenue growth accelerating or slowing?
WEX revenue growth is holding steady at +5.8% year-over-year. TTM revenue is $2.7B. The current growth rate closely tracks the 5-year CAGR of +11.3%, signalling consistent execution.
What is WEX's revenue history from 2003 to 2026?
WEX Inc. (WEX) revenue history spans 2003 to 2026. TTM revenue as of 2026 is $2.7B, growing at +5.8% YoY. The 5-year CAGR is +11.3%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is WEX's long-term revenue growth rate (CAGR)?
WEX Inc.'s 5-year revenue CAGR of +11.3% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +5.8% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for WEX.
Why does WEX's quarterly revenue fluctuate?
WEX quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. WEX Inc.'s revenue data from 2003 to 2026 shows full historical quarterly detail on this page.
How is WEX's revenue distributed by segment?
WEX reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does WEX's revenue compare to industry peers?
WEX Inc. (WEX) with TTM revenue of $2.7B and +5.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.