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Friday 6 November 2026
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WEX Inc.
WEX Technology Software Infrastructure
WEX Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 1.24% from fiscal 2024.
- Revenue
- +12.8%
- EPS
- +69.1%
- Free cash flow
- −117.0%
- Total debt
- −7.03%
Quarter to September 2026, against a year earlier
180.60
0.49
+0.27%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
17.30 | 23.07 | 31.36 | 35.83 | 0.00 | 0.00 | 91.47 | 36.29 | 37.98 | 214.40 |
Piotroski F-Score |
5 | 5 | 7 | 7 | 5 | 4 | 4 | 7 | 5 | 1 |
Altman Z-Score |
0.84 | 0.96 | 0.96 | 1.02 | 1.01 | 1.34 | 1.59 | 1.63 | 1.41 | 0.82 |
P/S ratio |
1.99 | 2.72 | 3.28 | 3.06 | 3.39 | 5.72 | 5.26 | 4.05 | 4.89 | 4.52 |
P/FCF ratio |
21.98 | 21.74 | 11.01 | 12.77 | 0.00 | 13.60 | 16.19 | 19.31 | 108.71 | 0.00 |
Altman Z″-Score (non-manufacturers) |
1.14 | 1.08 | 1.08 | 1.17 | 1.43 | 1.37 | 1.86 | 2.52 | 1.83 | (0.64) |
Beneish M-Score |
(2.46) | (2.64) | (2.75) | (2.59) | (2.14) | (3.26) | (2.71) | (2.63) | (2.36) | (1.84) |
P/Operating CF |
17.95 | 11.20 | 10.98 | 12.55 | (194.62) | (236.99) | 19.81 | 28.44 | 33.92 | (75.94) |
P/B ratio |
4.28 | 4.80 | 4.59 | 4.36 | 3.41 | 4.65 | 4.69 | 3.37 | 3.74 | 3.04 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
1.72 | 2.58 | 3.02 | 3.49 | 4.60 | 7.84 | 7.27 | 6.28 | 7.50 | 6.15 |
EV/EBITDA |
4.59 | 6.74 | 8.33 | 11.19 | 13.87 | 71.80 | 20.12 | 15.63 | 21.42 | 20.36 |
EV/Operating CF |
10.05 | 14.11 | 8.47 | 12.09 | (200.03) | 16.59 | 18.90 | 23.43 | 69.16 | (44.07) |
EV/FCF |
18.97 | 20.65 | 10.13 | 14.58 | (66.26) | 18.62 | 22.37 | 29.96 | 166.80 | (30.66) |
Quick Ratio |
1.02 | 1.00 | 1.03 | 1.06 | 1.19 | 1.25 | 1.23 | 1.41 | 1.21 | 0.59 |
Current Ratio |
1.05 | 1.02 | 1.05 | 1.08 | 1.20 | 1.28 | 1.26 | 1.47 | 1.24 | 0.59 |
Net Debt/EBITDA |
(2.49) | (2.10) | (2.63) | (1.00) | 0.80 | 9.07 | 2.74 | 2.72 | 3.44 | 5.47 |
Debt/Assets |
24.53% | 23.14% | 20.37% | 21.88% | 26.15% | 35.12% | 32.37% | 31.52% | 30.32% | 30.96% |
Debt/Equity |
2.86 | 2.07 | 1.55 | 1.53 | 1.47 | 1.50 | 1.39 | 1.19 | 1.24 | 1.23 |
Asset Turnover |
0.19 | 0.19 | 0.20 | 0.22 | 0.20 | 0.19 | 0.23 | 0.22 | 0.20 | 0.21 |
Operating CF/Net income |
1.49 | 1.55 | 3.41 | 3.37 | (426.00) | (3.02) | 6.70 | 2.38 | 0.85 | (6.01) |
Capex/Depreciation |
(0.65) | (0.47) | (0.54) | (0.44) | (0.32) | (0.31) | (0.43) | (0.44) | (0.39) | (0.44) |
Interest Coverage |
2.76 | 2.91 | 3.16 | 9.89 | 3.83 | (0.58) | 2.86 | 3.62 | 2.18 | 1.40 |
| 22.33% | 18.71% | 15.37% | 11.55% | 0.01% | (12.64%) | 5.31% | 9.82% | 10.21% | 1.81% | |
| 2.19% | 2.28% | 2.10% | 1.84% | 0.00% | (2.96%) | 1.31% | 2.50% | 2.52% | 0.48% | |
ROIC |
0.00% | 0.00% | 0.00% | 32.03% | 9.17% | (1.65%) | 6.62% | 7.05% | 4.65% | 3.15% |
Return on Tangible Assets |
44.71% | 68.89% | 40.46% | 27.77% | 0.01% | (25.64%) | 9.85% | 13.21% | 20.16% | (1.55%) |
Average Days of Receivables |
478.24 | 433.07 | 509.67 | 530.91 | 594.97 | 488.24 | 587.26 | 658.79 | 761.86 | 779.72 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
26.95% | 27.27% | 29.66% | 27.90% | 34.91% | 35.82% | 31.08% | 29.38% | 27.87% | 31.25% |
Intangible Assets out of Total Assets |
0.29 | 0.32 | 0.32 | 0.36 | 0.44 | 0.52 | 0.48 | 0.42 | 0.45 | 0.52 |
Share Based Compensation of Revenue |
3.77% | 4.27% | 4.98% | 4.17% | 4.04% | 4.09% | 2.66% | 2.27% | 2.44% | 1.95% |
Graham Net Nets |
(0.65) | (0.46) | (0.37) | (0.43) | (0.50) | (0.31) | (0.28) | (0.26) | (0.30) | (0.46) |
Graham Number |
82.08 | 78.99 | 77.22 | 61.47 | 0.00 | 0.00 | 48.00 | 60.12 | 56.50 | 20.85 |
Earnings Yield |
5.78% | 4.33% | 3.19% | 2.79% | 0.00% | (2.70%) | 1.09% | 2.76% | 2.63% | 0.47% |
Free Cash Flow Yield |
4.55% | 4.60% | 9.09% | 7.83% | (2.05%) | 7.36% | 6.18% | 5.18% | 0.92% | (4.43%) |
Revenue per Share |
74.95 | 64.41 | 59.53 | 52.94 | 41.40 | 35.58 | 39.79 | 34.59 | 29.05 | 24.81 |
Operating CF per Share |
12.80 | 11.80 | 21.21 | 15.30 | (0.95) | 16.81 | 15.31 | 9.27 | 3.15 | (3.46) |
Capex per Share |
(6.02) | (3.74) | (3.46) | (2.62) | (1.92) | (1.84) | (2.37) | (2.02) | (1.84) | (1.51) |
Free Cash Flow per Share |
6.78 | 8.06 | 17.75 | 12.68 | (2.88) | 14.97 | 12.94 | 7.25 | 1.31 | (4.97) |
Cash per Share |
169.34 | 127.41 | 122.71 | 73.31 | 49.34 | 30.33 | 22.66 | 12.86 | 12.16 | 5.26 |
Shareholders Equity per Share |
34.77 | 36.49 | 42.54 | 37.15 | 41.14 | 43.75 | 44.71 | 41.61 | 37.93 | 36.90 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
34.77 | 36.49 | 42.54 | 37.15 | 41.14 | 43.75 | 44.71 | 41.61 | 37.93 | 36.90 |
Free Cash Flow |
240.60 | 329.00 | 759.80 | 563.20 | (128.60) | 656.33 | 560.31 | 313.08 | 56.15 | (202.98) |
Working Capital |
426.40 | 188.20 | 416.10 | 523.00 | 899.81 | 761.99 | 792.43 | 1,086.56 | 630.20 | (1,685.01) |
Capital Expenditures |
(213.70) | (152.40) | (148.10) | (116.20) | (86.00) | (80.47) | (102.86) | (87.15) | (79.28) | (61.80) |
Net Current Asset Value |
(3,452.00) | (3,317.30) | (3,126.20) | (3,062.60) | (3,168.54) | (2,762.60) | (2,519.52) | (1,576.54) | (1,852.71) | (2,114.01) |
EV/EBIT |
6.88 | 9.90 | 11.89 | 17.48 | 24.93 | 0.00 | 32.49 | 24.64 | 40.12 | 39.25 |
Capex to Sales |
0.08 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 |
Price to Operating Income |
7.97 | 10.42 | 12.92 | 15.30 | 18.36 | 0.00 | 23.51 | 15.88 | 26.15 | 28.89 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
1.31 | 1.23 | 1.14 | 1.31 | 1.52 | 1.39 | 1.12 | 1.06 | 1.24 | 0.85 |
Cash ROIC |
2.23% | 3.37% | 7.67% | 7.58% | (1.91%) | 10.72% | 10.00% | 6.98% | 1.34% | (5.67%) |
Accounts Receivable Turnover |
0.81 | 0.79 | 0.73 | 0.73 | 0.73 | 0.64 | 0.63 | 0.56 | 0.52 | 0.54 |
Accounts Payable Turnover |
1.02 | 0.81 | 0.68 | 0.78 | 0.78 | 0.77 | 0.74 | 0.66 | 0.70 | 0.92 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
354.98 | 383.71 | 554.68 | 535.75 | 531.18 | 421.95 | 536.52 | 542.74 | 598.42 | 490.94 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
3,302.25 | 3,338.05 | 3,488.40 | 3,217.66 | 2,551.50 | 2,429.93 | 2,733.69 | 2,650.11 | 2,384.51 | 1,879.61 |
Average Payables |
1,080.65 | 1,285.00 | 1,422.45 | 1,193.86 | 900.06 | 874.01 | 892.28 | 828.96 | 730.15 | 497.96 |
Average Assets |
13,860.55 | 13,601.85 | 12,705.65 | 10,918.02 | 9,245.10 | 8,240.89 | 7,534.51 | 6,729.73 | 6,342.98 | 4,922.50 |
Average Common Equity |
1,361.60 | 1,654.65 | 1,735.05 | 1,744.14 | 1,878.35 | 1,927.22 | 1,866.22 | 1,713.01 | 1,567.92 | 1,300.71 |
Columns are period end dates · fundamentals updated 2 Nov 2026