(WEX) Wex - NYSE
Sector: Technology | Industry: Software - Infrastructure | Exchange: NYSE (USA) | Market Cap: 4.509m USD | Total Return: -7.6% in 12m
Avg Turnover: 81.2M
EPS Trend: 43.9%
Qual. Beats: 0
Rev. Trend: 83.3%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality
WEX Inc. is a U.S.-headquartered commerce platform operator with three core business segments. The Mobility segment provides fleet payment solutions, transaction processing, and information management services for businesses and government agencies with commercial vehicle fleets, distributed through direct, indirect, co-branded, and private label channels. The Corporate Payments segment offers embedded payments, accounts payable automation, and spend management solutions to customers in travel, fintech, insurance, consumer bill pay, and media verticals. The Benefits segment delivers a SaaS platform for consumer-directed healthcare benefits, including HSA custodial services, COBRA administration, and benefit enrollment solutions marketed through third-party administrators, financial institutions, payroll providers, and health plans.
The company is classified within the GICS Industrials sector, specifically the Data Processing & Outsourced Services sub-industry, reflecting its orientation toward payment processing and software-based services rather than pure financial intermediation. Founded in 1983 and headquartered in Portland, Maine, WEX was originally known as Wright Express Corporation before rebranding in October 2012, and has been publicly traded on the NYSE since its 2005 IPO.
- Mobility fuel volume exposed to commodity prices and EV transition
- Corporate Payments growth driven by B2B embedded and travel verticals
- Benefits segment scales on consumer-directed healthcare and HSA adoption
| Net Income: 310.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 3.07 > 1.0 |
| NWC/Revenue: 18.39% < 20% (prev 15.70%; Δ 2.69% < -1%) |
| CFO/TA 0.04 > 3% & CFO 605.1m > Net Income 310.4m |
| Net Debt (4.59b) to EBITDA (956.6m): 4.80 < 3 |
| Current Ratio: 1.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (35.0m) vs 12m ago -11.17% < -2% |
| Gross Margin: 57.44% > 18% (prev 60.17%; Δ -2.72% > 0.5%) |
| Asset Turnover: 18.36% > 50% (prev 18.71%; Δ -0.34% > 0%) |
| Interest Coverage Ratio: 2.78 > 6 (EBIT TTM 670.1m / Interest Expense TTM 241.2m) |
| A: 0.03 (Total Current Assets 10.7b - Total Current Liabilities 10.2b) / Total Assets 15.4b |
| B: 0.16 (Retained Earnings 2.45b / Total Assets 15.4b) |
| C: 0.05 (EBIT TTM 670.1m / Avg Total Assets 14.7b) |
| D: 0.09 (Book Value of Equity 1.27b / Total Liabilities 14.2b) |
| Altman-Z'' = 1.13 = BB |
| DSRI: 1.12 (Receivables 4.35b/3.77b, Revenue 2.70b/2.61b) |
| GMI: 1.05 (GM 60.17% / 57.44%) |
| AQI: 0.89 (AQ_t 0.29 / AQ_t-1 0.32) |
| SGI: 1.03 (Revenue 2.70b / 2.61b) |
| TATA: -0.02 (NI 310.4m - CFO 605.1m) / TA 15.4b) |
| Beneish M = -2.93 (Cap -4..+1) = A |
As of June 29, 2026, the stock is trading at USD 138.01 with a total of 737,047 shares traded. Over the past week, the price has changed by +8.22%, over one month by -6.76%, over three months by -11.02% and over the past year by -7.62%.
Current recommended Stop Loss: 131.40 (which is 4.8% or 1.2 ATR below the current price).
Wex has received a consensus analysts rating of 3.31. Therefore, it is recommended to hold WEX.
- StrongBuy: 2
- Buy: 1
- Hold: 13
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 179.2 | 29.8% |
P/E Trailing = 14.6453
P/E Forward = 6.6007
P/S = 1.6711
P/B = 3.4693
P/EG = 0.7334
Revenue TTM = 2.70b USD
EBIT TTM = 670.1m USD
EBITDA TTM = 956.6m USD
Long Term Debt = 3.61b USD (from longTermDebt, last quarter)
Short Term Debt = 1.63b USD (from shortTermDebt, last quarter)
Debt = 5.32b USD (from shortLongTermDebtTotal, last quarter) + Leases 82.0m
Net Debt = 4.59b USD (calculated: Debt 5.32b - CCE 726.3m)
Enterprise Value = 9.10b USD (4.51b + Debt 5.32b - CCE 726.3m)
Interest Coverage Ratio = 2.78 (Ebit TTM 670.1m / Interest Expense TTM 241.2m)
EV/FCF = 19.80x (Enterprise Value 9.10b / FCF TTM 459.6m)
FCF Yield = 5.05% (FCF TTM 459.6m / Enterprise Value 9.10b)
FCF Margin = 17.03% (FCF TTM 459.6m / Revenue TTM 2.70b)
Net Margin = 11.50% (Net Income TTM 310.4m / Revenue TTM 2.70b)
Gross Margin = 57.44% ((Revenue TTM 2.70b - Cost of Revenue TTM 1.15b) / Revenue TTM)
Gross Margin QoQ = 56.29% (prev 54.44%)
Tobins Q-Ratio = 0.59 (Enterprise Value 9.10b / Total Assets 15.4b)
Interest Expense / Debt = 4.53% (Interest Expense 241.2m / Debt 5.32b)
Taxrate = 27.55% (118.0m / 428.3m)
NOPAT = 485.5m (EBIT 670.1m * (1 - 27.55%))
Current Ratio = 1.05 (Total Current Assets 10.7b / Total Current Liabilities 10.2b)
Debt / Equity = 4.17 (Debt 5.32b / totalStockholderEquity, last quarter 1.27b)
Debt / EBITDA = 4.80 (Net Debt 4.59b / EBITDA 956.6m)
Debt / FCF = 9.99 (Net Debt 4.59b / FCF TTM 459.6m)
Total Stockholder Equity = 1.15b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.11% (Net Income 310.4m / Total Assets 15.4b)
RoE = 26.96% (Net Income TTM 310.4m / Total Stockholder Equity 1.15b)
RoCE = 14.09% (EBIT 670.1m / Capital Employed (Equity 1.15b + L.T.Debt 3.61b))
RoIC = 7.24% (NOPAT 485.5m / Invested Capital 6.70b)
WACC = 6.52% (E(4.51b)/V(9.83b) * Re(10.34%) + D(5.32b)/V(9.83b) * Rd(4.53%) * (1-Tc(0.28)))
Discount Rate = 10.34% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -70.47 | Cagr: -7.69%
[DCF] Terminal Value 75.44% ; FCFF base≈459.6m ; Y1≈461.5m ; Y5≈488.9m
[DCF] Fair Price = 86.84 (EV 7.60b - Net Debt 4.59b = Equity 3.01b / Shares 34.7m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 43.85 | EPS CAGR: 3.72% | SUE: 0.41 | # QB: 0
Revenue Correlation: 83.28 | Revenue CAGR: 2.42% | SUE: -0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=5.06 | Chg30d=+0.17% | Revisions=+69% | Analysts=14
EPS next Quarter (2026-09-30): EPS=5.43 | Chg30d=+0.03% | Revisions=+69% | Analysts=13
EPS current Year (2026-12-31): EPS=19.31 | Chg30d=+0.10% | Revisions=+20% | GrowthEPS=+19.9% | GrowthRev=+7.1%
EPS next Year (2027-12-31): EPS=20.30 | Chg30d=-0.06% | Revisions=-33% | GrowthEPS=+5.1% | GrowthRev=+2.4%
[Analyst] Revisions Ratio: +69%