(WEX) Wex - Overview
Sector: Technology | Industry: Software - Infrastructure | Exchange: NYSE (USA) | Market Cap: 5.220m USD | Total Return: 7.8% in 12m
Avg Turnover: 79.5M
EPS Trend: 43.7%
Qual. Beats: 4
Rev. Trend: 83.3%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
Idiosyncratic Leader, Confidence, Garp
WEX Inc. is a global commerce platform provider operating across three primary segments: Mobility, Corporate Payments, and Benefits. The Mobility division focuses on fleet payment solutions and transaction processing for commercial and government vehicle fleets. Corporate Payments provides embedded payment systems and accounts payable automation for industries such as travel and fintech, while the Benefits segment delivers a SaaS platform for healthcare benefit administration and enrollment.
The company utilizes a business-to-business (B2B) model that relies on high-volume transaction processing and recurring service fees. In the fleet sector, such providers often generate revenue through a combination of interchange fees and data analytics services that help organizations monitor fuel spend and driver behavior. The SaaS-based Benefits segment positions the company within the growing consumer-directed healthcare market, where integration with financial institutions and payroll providers is a critical barrier to entry. Investors may find ValueRay useful for deeper fundamental analysis of these diverse revenue streams.
Headquartered in Portland, Maine, and founded in 1983, WEX has transitioned from a specialized fleet card provider to a diversified financial technology firm. Its platform-centric approach allows for scalability across multiple international markets and vertical industries.
- Fluctuating fuel prices and commercial fleet volumes impact mobility segment transaction revenue
- High interest rates increase financing costs and impact corporate payment processing margins
- Expansion of health savings account enrollment drives software-as-a-service recurring revenue growth
- Global travel demand recovery fuels volume growth within the corporate payments segment
- Credit loss provisions and delinquency rates influence overall bottom-line profitability and valuation
| 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 (952.6m): 4.82 < 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 0.60%; Δ 5.68k% > 0.5%) |
| Asset Turnover: 18.36% > 50% (prev 18.71%; Δ -0.34% > 0%) |
| Interest Coverage Ratio: 2.76 > 6 (EBITDA TTM 952.6m / 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 666.1m / Avg Total Assets 14.7b) |
| D: 0.16 (Book Value of Equity 2.27b / Total Liabilities 14.2b) |
| Altman-Z'' = 1.20 = BB |
| DSRI: 1.12 (Receivables 4.35b/3.77b, Revenue 2.70b/2.61b) |
| GMI: 1.05 (GM 57.44% / 60.17%) |
| 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 = -2.95 (Cap -4..+1) = A |
As of May 30, 2026, the stock is trading at USD 144.96 with a total of 392,596 shares traded.
Over the past week, the price has changed by -2.85%,
over one month by -6.27%,
over three months by -2.84% and
over the past year by +7.82%.
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 | 181.2 | 25% |
P/E Trailing = 16.955
P/E Forward = 7.722
P/S = 1.9346
P/B = 4.059
P/EG = 0.8581
Revenue TTM = 2.70b USD
EBIT TTM = 666.1m USD
EBITDA TTM = 952.6m 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 = 9.81b USD (5.22b + Debt 5.32b - CCE 726.3m)
Interest Coverage Ratio = 2.76 (Ebit TTM 666.1m / Interest Expense TTM 241.2m)
EV/FCF = 21.35x (Enterprise Value 9.81b / FCF TTM 459.6m)
FCF Yield = 4.68% (FCF TTM 459.6m / Enterprise Value 9.81b)
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 = 0.64 (Enterprise Value 9.81b / Total Assets 15.4b)
Interest Expense / Debt = 4.53% (Interest Expense 241.2m / Debt 5.32b)
Taxrate = 28.39% (30.8m / 108.5m)
NOPAT = 477.0m (EBIT 666.1m * (1 - 28.39%))
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 = 4.82 (Net Debt 4.59b / EBITDA 952.6m)
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 = 14.00% (EBIT 666.1m / Capital Employed (Equity 1.15b + L.T.Debt 3.61b))
RoIC = 7.04% (NOPAT 477.0m / Invested Capital 6.77b)
WACC = 6.84% (E(5.22b)/V(10.5b) * Re(10.50%) + D(5.32b)/V(10.5b) * Rd(4.53%) * (1-Tc(0.28)))
Discount Rate = 10.50% (= 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: 43.75 | EPS CAGR: 3.72% | SUE: 1.70 | # QB: 4
Revenue Correlation: 83.28 | Revenue CAGR: 2.42% | SUE: -0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=5.05 | Chg30d=+13.64% | Revisions=+69% | Analysts=13
EPS next Quarter (2026-09-30): EPS=5.43 | Chg30d=+8.44% | Revisions=+69% | Analysts=13
EPS current Year (2026-12-31): EPS=19.29 | Chg30d=+7.48% | Revisions=+60% | GrowthEPS=+19.8% | GrowthRev=+7.1%
EPS next Year (2027-12-31): EPS=20.31 | Chg30d=+3.91% | Revisions=+62% | GrowthEPS=+5.3% | GrowthRev=+2.4%
[Analyst] Revisions Ratio: +69%