Saturday 17 October 2026 Export WEX’s income statement to Excel — free account

WEX Inc.

WEX Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 1.24% from fiscal 2024. In the quarter to June 2026, revenue grew 14.2%, EPS grew 58.1%, free cash flow fell 152.7% and total debt fell 9.88%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

181.66 0.68 +0.38%

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Market cap: $6.2B
P/E: 17.9×
Fwd P/E: 12.5×
Dividend yield: —
F-score: 5/9
Altman Z: 0.84
Beneish M: −2.46
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.36

Total sells 10.66

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	—	—	1	—	—	—	—	—
Sell	1	1	—	4	1	2	1	—	4	1	2	1

Insider Ownership 3.46%

Capital & Financial Ratios $m

Market Cap 6,170.00

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 17.86

Fwd P/E 12.50

P/S ratio 2.26

P/B ratio 4.69

Past 5Y EPS Growth —

This Y EPS Growth 25.49%

Next Y EPS Growth 5.60%

Next Y revenue growth 8.84%

Next 5Y EPS Growth 13.63%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 6.79%

10-year low 10-year high

P/S against its own 10 years 11.91%

10-year low 10-year high

P/B against its own 10 years 72.39%

10-year low 10-year high

EV/Sales against its own 10 years 3.61%

10-year low 10-year high

EV/FCF against its own 10 years 85.54%

10-year low 10-year high

Dividends

Payout Ratio —

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 special payouts not included in total or ratios

Assets vs Liabilities $m

	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

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 $m

	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

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	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

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	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

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	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
	High	117.14	142.26	203.50	221.66	236.52	234.64	183.38	204.06	244.04	188.70
People
People	Employees	2,600	3,300	3,700	5,000	5,300	5,600	4,900	5,500	6,500	6,600
	Revenue/emp, $m	0.39	0.38	0.40	0.34	0.29	0.33	0.48	0.46	0.40	0.40
Income, $m
Income, $m	Revenue	1,012	1,249	1,493	1,724	1,560	1,851	2,351	2,548	2,628	2,661
	Gross margin, %	54.69	58.81	63.29	61.72	56.84	62.05	60.41	61.80	60.52	58.64
	EBT	49	174	239	217	(301)	204	261	369	418	420
	EBT margin, %	4.83	13.97	15.99	12.56	(19.30)	11.02	11.08	14.47	15.90	15.79
	Net income	20	159	170	155	(280)	136	168	267	310	304
	Depreciation	142	204	200	237	262	273	264	276	321	331
Per share, $
Per share, $	Revenue	24.81	29.05	34.59	39.79	35.58	41.40	52.94	59.53	64.41	74.95
	Earnings	0.50	3.73	3.90	2.29	(5.56)	0.00	4.54	6.23	7.59	8.57
	Cash flow	(3.46)	3.15	9.27	15.31	16.81	(0.95)	15.30	21.21	11.80	12.80
	Capex	(1.51)	(1.84)	(2.02)	(2.37)	(1.84)	(1.92)	(2.62)	(3.46)	(3.74)	(6.02)
	Free cash flow	(4.97)	1.31	7.25	12.94	14.97	(2.88)	12.68	17.75	8.06	6.78
	Book value	36.90	37.93	41.61	44.71	43.75	41.14	37.15	42.54	36.49	34.77
	Shares, m	41	43	43	43	44	45	44	43	41	36
Valuation, ×
Valuation, ×	P/E	214.40	37.98	36.29	91.47	0.00	0.00	35.83	31.36	23.07	17.30
	P/S	4.52	4.89	4.05	5.26	5.72	3.39	3.06	3.28	2.72	1.99
	P/B	3.04	3.74	3.37	4.69	4.65	3.41	4.36	4.59	4.80	4.28
	EV/Sales	6.15	7.50	6.28	7.27	7.84	4.60	3.49	3.02	2.58	1.72
	EV/FCF	(30.66)	166.80	29.96	22.37	18.62	(66.26)	14.58	10.13	20.65	18.97
Cash, $m
Cash, $m	Operating cash flow	(141)	135	400	663	737	(43)	679	908	481	454
	Capex	(62)	(79)	(87)	(103)	(80)	(86)	(116)	(148)	(152)	(214)
	Free cash flow	(203)	56	313	560	656	(129)	563	760	329	241
Balance, $m
Balance, $m	Working capital	(1,685)	630	1,087	792	762	900	523	416	188	426
	Total debt	1,857	2,028	2,134	2,687	2,874	2,695	2,522	2,828	3,082	3,532
	Net debt	1,642	1,505	1,579	1,705	1,544	490	(733)	(2,425)	(2,116)	(2,479)
	Shareholders’ equity	1,506	1,630	1,796	1,937	1,918	1,839	1,650	1,821	1,489	1,235
Returns, %
Returns, %	ROA	0.48	2.52	2.50	1.31	(2.96)	0.00	1.84	2.10	2.28	2.19
	ROIC	3.15	4.65	7.05	6.62	(1.65)	9.17	32.03	0.00	0.00	0.00
	ROE	1.81	10.21	9.82	5.31	(12.64)	0.01	11.55	15.37	18.71	22.33

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PATH UiPath, Inc.	$7.2B	19.1×	35.0×	+13.42% (above 0%: growing)	+2,233.33% (above 0%: growing)	−29.52% (below 0%: shrinking)	80.36%	7.70%	Compare
QLYS Qualys, Inc.	$6.7B	31.2×	19.9×	+11.04% (above 0%: growing)	+15.38% (above 0%: growing)	+72.34% (above 0%: growing)	83.40%	33.98%	Compare
DOX Amdocs Limited	$6.5B	14.2×	10.2×	+2.66% (above 0%: growing)	−57.55% (below 0%: shrinking)	−18.84% (below 0%: shrinking)	39.76%	8.90%	Compare
WEX WEX Inc.	$6.2B	17.9×	12.5×	+14.24% (above 0%: growing)	+58.08% (above 0%: growing)	−152.65% (below 0%: shrinking)	61.54%	26.94%
VRNS Varonis Systems, Inc.	$5.4B	— (loss-making)	— (loss-making)	+18.31% (above 0%: growing)	n/m	+15.62% (above 0%: growing)	75.27%	(22.57%)	Compare
BOX Box, Inc.	$5.4B	54.9×	64.3×	+9.23% (above 0%: growing)	+66.67% (above 0%: growing)	+65.84% (above 0%: growing)	79.08%	10.16%	Compare
ACIW ACI Worldwide, Inc.	$5.3B	24.0×	17.0×	+7.27% (above 0%: growing)	+158.33% (above 0%: growing)	+35.07% (above 0%: growing)	42.18%	10.37%	Compare
RELY Remitly Global, Inc.	$5.2B	16.7×	28.8×	+20.23% (above 0%: growing)	+3,166.67% (above 0%: growing)	+197.33% (above 0%: growing)	62.07%	13.47%	Compare
BB BlackBerry Limited	$5.1B	59.9×	67.1×	+26.00% (above 0%: growing)	+200.00% (above 0%: growing)	+1,470.59% (above 0%: growing)	77.83%	20.58%	Compare
Median of peers	$5.4B	24.0×	28.8×	+12.23%	+158.33%	+50.46%	76.55%	10.26%

All 173 Software Infrastructure stocks →

WEX Inc. (WEX) key facts

Strength: WEX Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 1.24% from fiscal 2024.
WEX Inc. (WEX) is a Software Infrastructure company in the Technology sector, listed on the New York Stock Exchange.
As of October 16, 2026, WEX traded at $181.66, a market capitalization of $6.2 billion.
Return on equity was 22.3% and debt-to-equity 2.62.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 0.84 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.