WEX Inc. WEX

178.28 (7.15) (3.86%) as of 25 Sep
Market cap
$6.3B
P/E
17.5×
Growth Flags show if company had growth for consecutive years,
Insider Buys alert about insiders buying in the last 12 month

Insider Decisions

Total buys 0.36
Total sells 10.32
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — 1 — — — — — 1 — — — —
Sell — 1 1 — 4 1 2 1 — 4 1 2
Insider Ownership 3.49%

Capital & Financial Ratios

Market Cap 6,320.00
Revenue 2,791.90
Net Income 350.70
Free Cash Flow 49.90
Net Debt (3,191.10)
Current Ratio 1.04
Debt/Equity 2.62
P/E ratio 17.53
P/S ratio 2.22
P/B ratio 4.60
Past 5Y EPS Growth 27.08%
This Y EPS Growth 24.70%
Next Y EPS Growth 5.82%
Next 5Y EPS Growth 13.63%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 5,252 5,198 6,011 6,714
Receivables 3,558 3,118 3,486 4,917
Inventory — — — —
Other — — — —
8,935 8,516 9,713 11,806
2023 2024 2025 Q'26
Payables 1,479 1,091 1,070 1,768
ST’ Debt — — — —
Other 3,943 4,453 5,423 6,550
8,519 8,327 9,287 11,302
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 12.03% 11.27% 4.22%
Cash Flow 0.20% (9.22%) (12.55%)
Earnings 11.55% 0.00% 14.72%
Book Value 1.20% (8.43%) (9.21%)

Revenue

Mar Jun Sep Dec Year
’26 674 754 — — —
’25 637 660 692 673 2,661
’24 653 674 666 636 2,628
’23 612 621 651 663 2,548
’22 518 598 616 619 2,351
’21 411 459 483 497 1,851
’20 432 347 382 399 1,560
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (331) (78) — — —
’25 (482) 265 377 295 454
’24 (153) (7) 3 638 481
’23 27 72 47 762 908
’22 (169) (153) 428 573 679
’21 (217) 95 112 (32) (43)
’20 340 386 49 (38) 737
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (368) (121) — — —
’25 (529) 230 342 198 241
’24 (187) (52) (32) 600 329
’23 (8) 38 10 720 760
’22 (193) (174) 395 535 563
’21 (236) (482) 93 (63) (129)
’20 320 365 30 (58) 656
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 2.22 3.11 — — —
’25 1.81 1.98 2.30 2.41 8.47
’24 1.55 1.83 2.52 1.60 7.50
’23 1.56 2.20 0.42 1.98 6.16
’22 2.71 0.76 (1.00) 2.02 4.50
’21 (0.06) (0.76) 1.07 (0.26) 0.00
’20 (0.37) 1.66 (1.49) (5.30) (5.56)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
54.42 97.26 131.35 134.36 71.12 123.01 125.00 160.56 165.51 110.45

Analyst estimates 2026–2028

Powerpack
Low Price
117.14 142.26 203.50 221.66 236.52 234.64 183.38 204.06 244.04 188.70
High Price
2,600 3,300 3,700 5,000 5,300 5,600 4,900 5,500 6,500 6,600
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
1,012 1,249 1,493 1,724 1,560 1,851 2,351 2,548 2,628 2,661
Revenue
54.69% 58.81% 63.29% 61.72% 56.84% 62.05% 60.41% 61.80% 60.52% 58.64%
Gross Margin
49 174 239 217 (301) 204 261 369 418 420
EBT
4.83% 13.97% 15.99% 12.56% (19.30%) 11.02% 11.08% 14.47% 15.90% 15.79%
EBT Margin
20 159 170 155 (280) 136 168 267 310 304
Net Income
142 204 200 237 262 273 264 276 321 331
Depreciation
24.81 29.05 34.59 39.79 35.58 41.40 52.94 59.53 64.41 74.95
Revenue/Sh
0.50 3.73 3.90 2.29 (5.56) 0.00 4.54 6.23 7.59 8.57
Earnings/Sh
(3.46) 3.15 9.27 15.31 16.81 (0.95) 15.30 21.21 11.80 12.80
Cash Flow/Sh
(1.51) (1.84) (2.02) (2.37) (1.84) (1.92) (2.62) (3.46) (3.74) (6.02)
Capex/Sh
(4.97) 1.31 7.25 12.94 14.97 (2.88) 12.68 17.75 8.06 6.78
Free CF/Sh
36.90 37.93 41.61 44.71 43.75 41.14 37.15 42.54 36.49 34.77
Book Value/Sh
41 43 43 43 44 45 44 43 41 36
Shares
214.40 37.98 36.29 91.47 0.00 0.00 35.83 31.36 23.07 17.30
PE Ratio
4.52 4.89 4.05 5.26 5.72 3.39 3.06 3.28 2.72 1.99
PS Ratio
3.04 3.74 3.37 4.69 4.65 3.41 4.36 4.59 4.80 4.28
PB Ratio
6.15 7.50 5.73 6.40 6.82 3.75 2.84 2.71 2.28 1.42
EV/Sales
(30.66) 166.80 27.31 19.70 16.21 (53.94) 11.85 9.07 18.22 15.65
EV/FCF
(141) 135 400 663 737 (43) 679 908 481 454
Op' Cash Flow
(62) (79) (87) (103) (80) (86) (116) (148) (152) (214)
Capex
(203) 56 313 560 656 (129) 563 760 329 241
FCF
(1,685) 630 1,087 792 762 900 523 416 188 426
Working Cap'
1,857 2,425 2,351 2,949 3,043 2,866 2,736 2,828 3,082 3,532
Total Debt
1,642 1,902 1,796 1,967 1,713 661 (519) (2,425) (2,116) (2,479)
Net Debt
1,506 1,630 1,796 1,937 1,918 1,839 1,650 1,821 1,489 1,235
Sh' Equity
0.48% 2.52% 2.50% 1.31% (2.96%) 0.00% 1.84% 2.10% 2.28% 2.19%
ROA
3.15% 4.13% 6.62% 6.18% (1.58%) 8.55% 25.97% 0.00% 0.00% 0.00%
ROIC
1.81% 10.21% 9.82% 5.31% (12.64%) 0.01% 11.55% 15.37% 18.71% 22.33%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

WEX Inc. peers in Software Infrastructure

Company Market cap P/E Compare
QLYS Qualys, Inc. $6.3B 29.7× Compare
DOX Amdocs Limited $6.2B 13.7× Compare
PATH UiPath, Inc. $6.6B 18.6× Compare
BLSH Bullish $6.0B 0.0× Compare
Company Market cap P/E Compare
CORZ Core Scientific, Inc. $5.9B 0.0× Compare
DBX Dropbox, Inc. $7.1B 17.7× Compare
VRNS Varonis Systems, Inc. $5.5B 0.0× Compare
ZETA Zeta Global Holdings Corp. $7.4B 0.0× Compare

All 173 Software Infrastructure stocks →

WEX Inc. (WEX) key facts

  • WEX Inc. (WEX) is a Software Infrastructure company in the Technology sector, listed on the New York Stock Exchange.
  • WEX Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 1.24% from fiscal 2024.
  • As of September 25, 2026, WEX traded at $178.28, a market capitalization of $6.3 billion.
  • Return on equity was 22.3% and debt-to-equity 2.62.

Source: company filings (standardised) and stockrow calculations.

WEX Inc. (WEX) Latest News

News by impact score

Fine-tune

25 Sep

3

WEX is highlighted as the sole 'Stock to Watch' in a StockStory roundup that also labels United Community Banks and Live Oak Bancshares as 'Two Stocks to Sell'. WEX, founded in 1983 and active in fleet payments and corporate payments, is praised for earnings resilience driven by share repurchases, with EPS growth of 20.6% and ROE of 18.2%. The stock trades at about $183.48 and implies a forward P/E of roughly 9x. The piece notes the low beta (0.62) and presents WEX as offering safe-and-steady growth with exciting potential, while prompting readers to view a full, free research report for a definitive view on whether now is a buy. EPS growth of 20.6% driven by share repurchases and ROE of 18.2% offer positive sentiment, but the piece treats WEX as a watch-list stock rather than a buy signal.

24 Sep

3

WEX launched cardless fueling for over-the-road fleets via the WEX CardControl app, issuing single-use fuel codes to reduce risks from lost, stolen, or shared cards. The move embeds fraud-resistant, app-based fueling into existing fleet programs, expanding secure, integrated payments and operational controls. North America’s SecureFuel rollout adds AI and telematics for real-time fraud detection and purchase controls, reinforcing WEX’s differentiation for traditional fleets and EV-oriented operations. While it strengthens the investment narrative around software and data services, the near-term focus remains on hitting guidance and managing exposure to fuel volumes. Forecasts cited project roughly $3.1B in revenue and $519.6M in earnings by 2029, with a fair value around $193.91 and about 5% upside, but risks include fuel-dependence and fintech competition. Adds a meaningful product differentiator in secure fleet payments and fraud controls, likely modestly boosting long-term positioning while near-term guidance remains the focus.

28 Aug

3

WEX outlined AI integration plans, pricing adjustments and expanded share buybacks at the Deutsche Bank conference. WEX's AI, pricing and buyback plans point to moderate operational and market effects.

19 Aug

3

WEX Inc. beat Q2 expectations and raised full-year guidance, yet the stock trades near fair value with limited further upside indicated. Q2 beat and raised guidance provide moderate positive momentum but valuation at fair value caps major trajectory shifts.

13 Aug

4

WEX Inc. stands out as a surging stock with exciting potential while two other stocks receive dismissal. Positive spotlight on WEX growth outlook can shift investor flows and valuation multiples.

30 Jul

4

WEX Inc. launched SecureFuel AI Fraud Tool, driving a 21% stock increase. SecureFuel AI Fraud Tool launch boosts WEX stock by 21 percent and strengthens its position in fleet management solutions.

29 Jul

3

WEX launches SecureFuel, an AI-powered fraud prevention system for commercial fleets. SecureFuel AI launch adds fraud prevention capability to WEX fleet services.

23 Jul

4

WEX Inc posted strong Q2 2026 revenue growth and advanced strategic AI integration during its earnings call. Revenue growth paired with AI initiatives points to major changes in operations and competitive stance.

3 transcript

WEX Inc. released Q2 earnings call highlights covering financial results and operational updates. Q2 earnings highlights deliver financial updates that may moderately affect near-term stock sentiment.

3

WEX Inc. conducted its Q2 2026 earnings call covering financial results and business updates. Earnings call details directly inform financial performance and near-term investor expectations for WEX.

22 Jul

4

WEX Inc. surpassed Q2 CY2026 earnings expectations. Earnings beat signals stronger financial performance and lifts investor outlook.

3

WEX Inc. Q2 earnings key metrics indicate company operational and financial status. Q2 earnings metrics can affect short term stock performance and investor sentiment for WEX.

3

WEX Inc. reported its second quarter 2026 financial results. Quarterly results typically move valuation and sentiment without guaranteeing structural change.

21 Jul

3

WEX Inc. is scheduled to report quarterly earnings tomorrow, with focus on expected revenue, EPS figures, and potential market reaction to the results. Routine pre-earnings preview may cause short-term stock movement but lacks transformative details.

18 Jul

3

WEX Inc. shares may be 8% undervalued after the company reached an agreement with Bluon. Bluon agreement signals potential 8% valuation shift that could moderately influence WEX stock trajectory and sentiment.

25 Jun

3

WEX Inc. benefits from fleet management solutions and buyouts despite elevated debt. Fleet solutions and acquisitions provide moderate operational support while elevated debt caps broader gains.

16 May

4

WEX Inc. enacted governance overhaul alongside $1 billion share buyback program potentially recasting capital allocation priorities and boosting shareholder returns. $1 billion buyback plus governance overhaul signals major capital return and oversight shifts that can materially lift stock performance and investor sentiment.

14 May

4

WEX Inc. announced a $1 billion share repurchase program. $1 billion share repurchase signals strong financial position and boosts investor confidence by returning capital to shareholders.

6 May

4

WEX Inc. faces governance shakeup and activist investor agreement, triggering valuation reassessment amid potential strategic shifts. Governance shakeup and activist agreement indicate major board and strategy changes likely to reshape operations and boost investor confidence.

4 May

4

WEX Inc., a card provider, has reached a settlement agreement with an activist investor, ensuring CEO Smith remains in his role. Settlement with activist investor stabilizes leadership and averts potential board upheaval, positively influencing investor sentiment and strategic direction.

4

WEX Inc. and activist investor Impactive Capital announced a cooperation agreement, resolving prior disagreements and outlining governance changes including board appointments and strategic reviews. Cooperation agreement with activist Impactive Capital introduces potential board changes and strategic shifts that could significantly alter WEX's governance and market performance.

30 Apr

4

WEX partners with Extend to enable corporate card payments directly within SAP Concur solutions, streamlining expense management for businesses. Partnership integrates WEX corporate cards into SAP Concur, expanding reach in enterprise expense management and driving adoption.

4

WEX Inc. faces a proxy fight from activists highlighting governance shortcomings and urging accelerated growth strategies amid underwhelming stock performance. Proxy fight challenges WEX board on governance and growth stagnation, likely triggering major strategic and leadership changes.

27 Apr

4

ISS joins Glass Lewis and Egan-Jones in recommending shareholders support Impactive Capital's proposals for board and leadership changes at WEX Inc. ahead of the annual meeting. Endorsements from top proxy advisors ISS, Glass Lewis, and Egan-Jones strengthen Impactive's activist campaign, likely forcing strategic or governance shifts at WEX that could significantly alter its trajectory.

24 Apr

4

WEX Inc. reported strong financial performance in Q1 2026 earnings call, navigating global challenges successfully. Strong Q1 2026 financial results amid global challenges boost investor confidence and signal positive trajectory shifts.

4

WEX Inc. (WEX) stock is sharply declining due to disappointing earnings, rising costs, and weakening demand in fleet and mobility payments. Sharp stock plunge reflects major setbacks in financial results and operational challenges poised to alter investor sentiment and trajectory.

3

WEX Inc. Q1 earnings beat estimates driven by higher benefits revenues. Beating Q1 earnings estimates signals stronger financial performance and boosts investor sentiment moderately.

3

WEX Inc. Q1 revenue grew amid fleet and corporate payments expansion, but higher processing costs squeezed margins while macroeconomic volatility pressured profitability. Margin pressures and macro volatility offset Q1 revenue gains, moderately impacting financial performance and investor sentiment.

23 Apr

4 transcript

WEX Inc. released the transcript of its Q1 2026 earnings call, detailing quarterly financial results, operational updates, and forward-looking guidance. Q1 earnings call transcripts disclose financial metrics, management insights, and future projections that significantly influence investor sentiment and stock trajectory.

4

WEX Inc. released Q1 2026 earnings call summary detailing quarterly financial results, operational highlights, and forward guidance. Quarterly earnings summaries reveal financial performance and guidance that significantly shape investor sentiment and stock trajectory.

stockrow.com/WEX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com