WEX Inc. (WEX)

NYSE Financials Transaction & Payment Processing Services S&P MidCap 400

$182.22

+2.44 (+1.36%)

Close of Nov 06, 2026 · end-of-day data

Source: WEX Inc.'s 10-K / 10-Q XBRL data on SEC EDGAR · fetched Oct 30, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.01B	$1.25B	$996.76M	$1.21B	$1.13B	$1.35B	$1.69B	$1.84B	$1.87B	$1.85B
Cost of revenue	$458.81M	$514.28M	$547.93M	$659.77M	$673.17M	$702.10M	$930.50M	$973.30M	$1.04B	$1.10B
Gross profit	$553.68M	$734.29M	$448.83M	$547.68M	$455.77M	$643.70M	$759.20M	$865.10M	$829.50M	$744.80M
Operating income	$158.53M	$233.42M	$380.64M	$385.84M	-$91.67M	$342.00M	$469.80M	$647.10M	$686.30M	$663.90M
Interest expense	$12.39M	$24.99M	$105.02M	$134.68M	$157.08M	$128.42M	$130.69M	—	—	—
Pre-tax income	$48.93M	$174.42M	$238.62M	$216.52M	-$301.08M	$203.90M	$260.50M	$368.80M	$417.80M	$420.20M
Income tax	$28.59M	$15.45M	$68.84M	$61.22M	-$20.60M	$67.80M	$93.10M	$102.20M	$108.20M	$116.10M
Net income	$60.64M	$160.06M	$168.29M	$156.32M	-$283.95M	$135.30M	$167.20M	$266.60M	$309.60M	$304.10M
EBITDA	$300.18M	$437.15M	$580.44M	$622.97M	$170.25M	$614.60M	$733.70M	$923.30M	$1.01B	$995.00M
EPS (basic)	$0.58	$3.72	$3.90	$2.29	$-5.56	$0.00	$4.54	$6.23	$7.59	$8.57
EPS (diluted)	$0.57	$3.71	$3.86	$2.26	$-5.56	$0.00	$4.50	$6.16	$7.50	$8.47
Diluted shares	40.91M	43.10M	43.57M	43.77M	43.84M	45.30M	44.70M	43.30M	41.30M	35.90M
Gross margin	54.7%	58.8%	45.0%	45.4%	40.4%	47.8%	44.9%	47.1%	44.4%	40.4%
Operating margin	15.7%	18.7%	38.2%	32.0%	-8.1%	25.4%	27.8%	35.2%	36.8%	36.0%
Net margin	6.0%	12.8%	16.9%	12.9%	-25.2%	10.1%	9.9%	14.5%	16.6%	16.5%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$190.93M	$503.52M	$541.50M	$810.93M	$852.00M	$588.90M	$922.00M	$975.80M	$595.80M	$905.80M
Short-term investments	—	—	—	—	$0	$948.68M	$1.40B	$3.02B	$3.76B	$4.33B
Total current assets	—	$3.21B	$3.40B	$3.84B	$3.50B	$5.30B	$6.82B	$8.94B	$8.52B	$9.71B
Goodwill	$1.84B	$1.88B	$1.83B	$2.44B	$2.69B	$2.91B	$2.73B	$3.02B	$2.98B	$3.02B
Total assets	$6.00B	$6.69B	$6.77B	$8.30B	$8.18B	$10.31B	$11.53B	$13.88B	$13.32B	$14.40B
Total current liabilities	—	$2.58B	$2.31B	$3.05B	$2.74B	$4.40B	$6.29B	$8.52B	$8.33B	$9.29B
Short-term debt	—	$397.22M	$216.52M	$248.53M	$152.73M	$155.77M	$202.60M	$1.04B	$1.29B	$1.33B
Long-term debt	—	$2.03B	$2.13B	$2.69B	$2.87B	$2.70B	$2.52B	$2.83B	$3.08B	$3.53B
Total debt	—	$2.42B	$2.35B	$2.94B	$3.03B	$2.85B	$2.72B	$3.87B	$4.38B	$4.86B
Total liabilities	$4.49B	$5.06B	$4.97B	$6.21B	$6.15B	$8.21B	$9.88B	$12.06B	$11.83B	$13.16B
Shareholders' equity	$1.50B	$1.62B	$1.79B	$1.93B	$1.90B	$1.84B	$1.65B	$1.82B	$1.49B	$1.23B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	-$141.19M	$135.43M	$400.23M	$663.17M	$736.80M	-$42.60M	$679.40M	$907.90M	$481.40M	$454.30M
Capital expenditures	$61.80M	$79.28M	$87.15M	$102.86M	$80.47M	$86.00M	$112.90M	$143.60M	$147.30M	$140.60M
Free cash flow	-$202.99M	$56.15M	$313.08M	$560.31M	$656.33M	-$128.60M	$566.50M	$764.30M	$334.10M	$313.70M
Investing cash flow	-$1.16B	-$168.05M	-$254.18M	-$990.61M	-$329.09M	-$1.60B	-$716.70M	-$2.14B	-$960.60M	-$696.90M
Financing cash flow	$1.22B	$359.38M	-$102.73M	$749.77M	-$59.04M	$1.60B	$681.30M	$1.57B	-$260.30M	$418.90M
Share buybacks	$0	$0	—	—	$0	$0	$282.80M	$303.40M	$652.00M	$799.80M
Stock-based compensation	$19.74M	$30.49M	$33.89M	$45.81M	$63.86M	$74.80M	$97.90M	$127.00M	$112.20M	$100.30M
Depreciation & amortization	$141.65M	$203.72M	$199.81M	$237.13M	$261.93M	$272.60M	$263.90M	$276.20M	$321.30M	$331.10M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$480.60M	$469.40M	$478.60M	$479.00M	$440.20M	$444.30M	$454.40M	$481.60M	$465.10M	$462.20M	$513.30M	$523.50M
Cost of revenue	$255.90M	$267.20M	$263.80M	$249.20M	$257.60M	$270.00M	$272.70M	$274.30M	$283.60M	$280.10M	$289.70M	$287.40M
Gross profit	$224.70M	$202.20M	$214.80M	$229.80M	$182.60M	$174.30M	$181.70M	$207.30M	$181.50M	$182.10M	$223.60M	$236.10M
Operating income	$158.50M	$164.50M	$168.10M	$196.40M	$157.30M	$157.30M	$156.80M	$183.60M	$166.30M	$158.20M	$203.20M	$238.80M
Pre-tax income	$108.40M	$90.00M	$106.10M	$141.10M	$80.60M	$100.40M	$93.40M	$116.40M	$110.00M	$108.50M	$150.50M	$185.50M
Income tax	$23.50M	$24.20M	$29.10M	$38.20M	$16.60M	$28.90M	$25.20M	$36.20M	$25.80M	$30.80M	$41.90M	$51.40M
Net income	$84.90M	$65.80M	$77.00M	$102.90M	$63.90M	$71.50M	$68.10M	$80.30M	$84.30M	$77.70M	$108.50M	$134.10M
EBITDA	$233.40M	$242.90M	$247.70M	$277.90M	$239.10M	$238.80M	$240.80M	$267.30M	$248.20M	$239.80M	$286.20M	$323.80M
EPS (basic)	$2.00	$1.57	$1.85	$2.56	$1.64	$1.84	$1.98	$2.34	$2.44	$2.25	$3.13	$3.95
EPS (diluted)	$1.98	$1.55	$1.83	$2.52	$1.61	$1.81	$1.98	$2.30	$2.40	$2.22	$3.11	$3.88
Diluted shares	-200.00K	42.40M	42.00M	40.80M	-400.00K	39.40M	34.40M	34.80M	-300.00K	35.00M	34.90M	34.60M
Gross margin	46.8%	43.1%	44.9%	48.0%	41.5%	39.2%	40.0%	43.0%	39.0%	39.4%	43.6%	45.1%
Operating margin	33.0%	35.0%	35.1%	41.0%	35.7%	35.4%	34.5%	38.1%	35.8%	34.2%	39.6%	45.6%
Net margin	17.7%	14.0%	16.1%	21.5%	14.5%	16.1%	15.0%	16.7%	18.1%	16.8%	21.1%	25.6%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$975.80M	$779.60M	$682.60M	$535.40M	$595.80M	$610.30M	$772.60M	$812.90M	$905.80M	$633.50M	$1.16B	$593.20M
Short-term investments	$3.02B	$3.30B	$3.32B	$3.72B	$3.76B	$3.83B	$4.14B	$4.13B	$4.33B	$4.78B	$4.94B	$4.67B
Total current assets	$8.94B	$9.53B	$9.38B	$9.11B	$8.52B	$9.17B	$9.90B	$9.72B	$9.71B	$10.71B	$11.81B	$11.54B
Goodwill	$3.02B	$3.00B	$3.01B	$3.02B	$2.98B	$2.99B	$3.01B	$3.01B	$3.02B	$3.02B	$3.02B	$3.03B
Total assets	$13.88B	$14.42B	$14.25B	$13.96B	$13.32B	$13.96B	$14.67B	$14.43B	$14.40B	$15.43B	$16.50B	$16.20B
Total current liabilities	$8.52B	$8.99B	$9.07B	$8.72B	$8.33B	$8.76B	$9.50B	$9.25B	$9.29B	$10.22B	$11.30B	$11.25B
Short-term debt	$1.04B	$1.11B	$1.25B	$1.44B	$1.29B	$1.49B	$1.53B	$1.31B	$1.33B	$1.63B	$1.83B	$1.86B
Long-term debt	$2.83B	$3.08B	$2.96B	$3.14B	$3.08B	$4.10B	$3.91B	$3.72B	$3.53B	$3.61B	$3.52B	$3.46B
Total debt	$3.87B	$4.19B	$4.21B	$4.58B	$4.38B	$5.58B	$5.44B	$5.03B	$4.86B	$5.24B	$5.36B	$5.32B
Total liabilities	$12.06B	$12.64B	$12.46B	$12.28B	$11.83B	$13.15B	$13.69B	$13.31B	$13.16B	$14.15B	$15.15B	$15.04B
Shareholders' equity	$1.82B	$1.78B	$1.78B	$1.68B	$1.49B	$810.40M	$978.70M	$1.12B	$1.23B	$1.27B	$1.34B	$1.15B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$761.90M	-$153.30M	-$7.00M	$3.30M	$638.40M	-$481.60M	$264.60M	$376.60M	$294.70M	-$330.80M	-$77.60M	-$11.20M
Capital expenditures	$41.90M	$34.00M	$39.60M	$35.00M	$38.70M	$32.60M	$34.60M	$35.00M	$38.40M	$37.50M	$43.50M	$47.00M
Free cash flow	$720.00M	-$187.30M	-$46.60M	-$31.70M	$599.70M	-$514.20M	$230.00M	$341.60M	$256.30M	-$368.30M	-$121.10M	-$58.20M
Investing cash flow	-$566.90M	-$317.80M	-$84.90M	-$321.30M	-$236.60M	-$23.50M	-$392.30M	$21.50M	-$302.60M	-$524.10M	-$255.90M	$48.20M
Financing cash flow	-$132.00M	$354.10M	-$207.40M	-$187.80M	-$219.20M	$318.40M	$342.00M	-$443.60M	$202.10M	$423.10M	$873.00M	-$635.50M
Share buybacks	$150.80M	$73.60M	$100.00M	$370.00M	$108.40M	$790.00M	$9.70M	$100.00K	$0	$0	$63.80M	$203.60M
Stock-based compensation	$35.30M	$28.10M	$33.40M	$28.60M	$22.10M	$12.60M	$31.70M	$33.50M	$22.50M	$27.50M	$36.40M	$43.10M
Depreciation & amortization	$74.90M	$78.40M	$79.60M	$81.50M	$81.80M	$81.50M	$84.00M	$83.70M	$81.90M	$81.60M	$83.00M	$85.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.