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

181.31 3.56 −1.93%
Market cap
$6.0B
P/E
15.4×
Fwd P/E
14.8×
Dividend yield
—
F-score
5/9
Altman Z
0.84
Beneish M
−2.46
Dividend safety
n/a

WEX Inc. (WEX) Free cash flow margin

Alert me on Free cash flow margin

WEX Inc.'s free cash flow margin over the twelve months to 30 September 2026 was −12.2%, down 21.2 percentage points from fiscal 2025 (9.04%). Over the past ten years it has ranged from −20.1% (fiscal 2016) to 44.7% (fiscal 2015); the current reading is higher than 36% of that period. That is below the Software Infrastructure industry median of 0.00% and below the Technology sector median of 1.27%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 9.04% (3.48)
FY2024 12.5% (17.30)
FY2023 29.8% 5.86
FY2022 24.0% 30.91
FY2021 −6.95% (49.03)
FY2020 42.1% 9.57
FY2019 32.5% 11.54
FY2018 21.0% 16.47
FY2017 4.50% 24.55
FY2016 −20.1% (64.70)

Against its own ten years

Low −20.1% High 44.7%
Ten-year median 21.0%
Current reading's percentile 36

Free cash flow margin against peers

Company Free cash flow margin
BOX Box, Inc. compare 28.4%
TENB Tenable Holdings, Inc. compare 25.0%
PATH UiPath, Inc. compare 21.1%
RELY Remitly Global, Inc. compare 20.7%
VRNS Varonis Systems, Inc. compare 17.2%
ACIW ACI Worldwide, Inc. compare 15.6%
DOX Amdocs Limited compare 13.7%
WEX WEX Inc. −12.2%
MBGL Mobility Global Inc. compare —
Software Infrastructure industry median 0.00%
Technology sector median 1.27%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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