WEX Stock Analysis: Wex | NYSE
Software - Infrastructure | NYSE, USA | Market Cap: 6.730m USD | 12M Return: 19.4% | US96208T1043 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 94.9M
EPS Trend: 91.8%
Qual. Beats: 1
Rev. Trend: 82.6%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
WEX Inc. is a global commerce platform operating through three business segments: Mobility, Corporate Payments, and Benefits. The Mobility segment provides fleet payment solutions, transaction processing, and account management services to businesses and government agencies with commercial vehicle fleets, marketed both directly and through co-branded relationships. The Corporate Payments segment delivers embedded payments, accounts payable automation, and spend management solutions to customers in travel, fintech, insurance, consumer bill pay, and media verticals. The Benefits segment offers a SaaS platform for consumer-directed healthcare benefits, including health savings account administration, COBRA accounts, and benefit enrollment services, distributed through third-party administrators, financial institutions, payroll providers, and health plans.
Founded in 1983 and headquartered in Portland, Maine, WEX was originally known as Wright Express Corporation before rebranding in October 2012. Despite its payments-focused operations, the company is classified under the GICS Industrials sector within the Data Processing & Outsourced Services sub-industry. Its business model combines transaction-based payment processing with recurring SaaS revenue, particularly in the Benefits segment where it serves as both a technology platform and a custodian for healthcare-related accounts.
- Fleet fuel payment volume growth drives Mobility segment revenue
- Corporate Payments expansion in B2B spend management verticals
- Benefits segment scales consumer-directed healthcare platform and HSA deposits
- Interest rate sensitivity impacts Benefits float and corporate payment yields
| Net Income: 350.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -1.18 > 1.0 |
| NWC/Revenue: 18.03% < 20% (prev 15.38%; Δ 2.65% < -1%) |
| CFO/TA 0.02 > 3% & CFO 262.9m > Net Income 350.8m |
| Net Debt (-662.4m) to EBITDA (1.05b): -0.63 < 3 |
| Current Ratio: 1.04 > 1.5 & < 3 |
| Outstanding Shares: last quarter (34.9m) vs 12m ago 1.45% < -2% |
| Gross Margin: 56.71% > 18% (prev 59.60%; Δ -2.89% > 0.5%) |
| Asset Turnover: 17.91% > 50% (prev 17.71%; Δ 0.21% > 0%) |
| Interest Coverage Ratio: 3.13 > 6 (EBIT TTM 714.9m / Interest Expense TTM 228.4m) |
| A: 0.03 (Total Current Assets 11.8b - Total Current Liabilities 11.3b) / Total Assets 16.5b |
| B: 0.15 (Retained Earnings 2.56b / Total Assets 16.5b) |
| C: 0.05 (EBIT TTM 714.9m / Avg Total Assets 15.6b) |
| D: 0.09 (Book Value of Equity 1.34b / Total Liabilities 15.2b) |
| Altman-Z'' = 1.11 = BB |
| DSRI: 1.13 (Receivables 4.76b/3.92b, Revenue 2.79b/2.60b) |
| GMI: 1.05 (GM 59.60% / 56.71%) |
| AQI: 0.87 (AQ_t 0.27 / AQ_t-1 0.31) |
| SGI: 1.07 (Revenue 2.79b / 2.60b) |
| TATA: 0.01 (NI 350.8m - CFO 262.9m) / TA 16.5b) |
| Beneish M = -2.90 (Cap -4..+1) = A |
As of October 27, 2026, the stock is trading at USD 192.09 with a total of 551,243 shares traded. Over the past week, the price has changed by +4.82%, over one month by +8.49%, over three months by +7.93% and over the past year by +19.37%.
Current recommended Stop Loss: 182.70 (which is 4.9% or 1.8 ATR below the current price).
Wex has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold WEX.
- StrongBuy: 4
- Buy: 1
- Hold: 10
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 195.4 | 1.7% |
P/E Trailing = 19.746
P/E Forward = 8.6281
P/S = 2.4103
P/B = 4.5936
P/EG = 0.9584
Revenue TTM = 2.79b USD
EBIT TTM = 714.9m USD
EBITDA TTM = 1.05b USD
Long Term Debt = 3.52b USD (from longTermDebt, last quarter)
Short Term Debt = 1.83b USD (from shortTermDebt, last quarter)
Debt = 5.44b USD (from shortLongTermDebtTotal, last quarter) + Leases 82.0m
Net Debt = -662.4m USD (calculated: Debt 5.44b - CCE 6.10b)
Enterprise Value = 6.07b USD (6.73b + Debt 5.44b - CCE 6.10b)
Interest Coverage Ratio = 3.13 (Ebit TTM 714.9m / Interest Expense TTM 228.4m)
EV/FCF = 55.92x (Enterprise Value 6.07b / FCF TTM 108.5m)
FCF Yield = 1.79% (FCF TTM 108.5m / Enterprise Value 6.07b)
FCF Margin = 3.89% (FCF TTM 108.5m / Revenue TTM 2.79b)
Net Margin = 12.56% (Net Income TTM 350.8m / Revenue TTM 2.79b)
Gross Margin = 56.71% ((Revenue TTM 2.79b - Cost of Revenue TTM 1.21b) / Revenue TTM)
Gross Margin QoQ = 55.77% (prev 56.29%)
Tobins Q-Ratio = 0.37 (Enterprise Value 6.07b / Total Assets 16.5b)
Interest Expense / Debt = 4.20% (Interest Expense 228.4m / Debt 5.44b)
Taxrate = 27.75% (134.7m / 485.4m)
NOPAT = 516.5m (EBIT 714.9m * (1 - 27.75%))
Current Ratio = 1.04 (Total Current Assets 11.8b / Total Current Liabilities 11.3b)
Debt / Equity = 4.05 (Debt 5.44b / totalStockholderEquity, last quarter 1.34b)
Debt / EBITDA = -0.63 (Net Debt -662.4m / EBITDA 1.05b)
Debt / FCF = -6.10 (Net Debt -662.4m / FCF TTM 108.5m)
Total Stockholder Equity = 1.24b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.25% (Net Income 350.8m / Total Assets 16.5b)
RoE = 28.22% (Net Income TTM 350.8m / Total Stockholder Equity 1.24b)
RoCE = 15.00% (EBIT 714.9m / Capital Employed (Equity 1.24b + L.T.Debt 3.52b))
RoIC = 7.50% (NOPAT 516.5m / Invested Capital 6.89b)
WACC = 6.21% (E(6.73b)/V(12.2b) * Re(8.78%) + D(5.44b)/V(12.2b) * Rd(4.20%) * (1-Tc(0.28)))
Discount Rate = 8.78% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -90.90 | Cagr: -7.80%
[DCF] Terminal Value 73.10% ; FCFF base≈172.8m ; Y1≈151.6m ; Y5≈122.4m
[DCF] Fair Price = 77.10 (EV 1.97b - Net Debt -662.4m = Equity 2.63b / Shares 34.1m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 91.77 | EPS CAGR: 5.45% | SUE: 0.96 | # QB: 1
Revenue Correlation: 82.62 | Revenue CAGR: 2.56% | SUE: 1.28 | # QB: 1
EPS current Quarter (2026-09-30): EPS=5.66 | Chg30d=+0.99% | Revisions=+50% | Analysts=14
EPS current Year (2026-12-31): EPS=20.14 | Chg30d=+0.59% | Revisions=+50% | GrowthEPS=+25.1% | GrowthRev=+8.9%
EPS next Year (2027-12-31): EPS=21.29 | Chg30d=+0.42% | Revisions=+40% | GrowthEPS=+5.7% | GrowthRev=+1.6%
[Analyst] Revisions Ratio: +73% (up=8, down=0)