WEX Inc.
- Open
- 188.31
- Day high
- 193.47
- Day low
- 186.48
- Prev close
- 188.70
- Volume
- 434K
- Mkt cap
- $6.6B
- P/E (TTM)
- 19.0
- EPS (TTM)
- $10.17
- P/B
- 4.9
- P/S
- 2.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.5M over the last 3 months (0 open-market buys, 10 sales)
- 🏛Institutions mixed (13F)
WEX Inc. (WEX) is a Technology company listed on NYSE. The stock is up 15% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 10 sales (SEC Form 4). Drillr has 1 published research article covering WEX.
WEX Inc. (WEX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WEX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $5.07 | $5.35 | +5.6% | $754M | +2.1% |
| Apr 23, 2026 | $4.07 | $4.15 | +1.9% | $674M | +0.5% |
| Feb 4, 2026 | $3.90 | $4.11 | +5.3% | $673M | +1.4% |
| Oct 29, 2025 | $4.45 | $4.59 | +3.2% | $692M | +5.0% |
| Jul 23, 2025 | $3.70 | $3.95 | +6.9% | $660M | -1.3% |
| Apr 30, 2025 | $3.40 | $3.51 | +3.1% | $637M | +0.3% |
| Feb 5, 2025 | $3.57 | $3.57 | -0.0% | $637M | -0.2% |
| Oct 24, 2024 | $4.42 | $4.35 | -1.6% | $666M | +4.2% |
| Jul 25, 2024 | $3.80 | $3.91 | +2.8% | $674M | -0.8% |
| Apr 25, 2024 | $3.47 | $3.46 | -0.4% | $653M | -0.4% |
| Feb 8, 2024 | $3.72 | $3.82 | +2.6% | $663M | +1.2% |
| Oct 26, 2023 | $3.78 | $4.05 | +7.2% | $651M | +0.7% |
WEX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 6, 2026 | Carriedo Carlosofficer: COO, Amer. Payments & Mobility | Sell | 1,075 | $186.00 |
| Jul 31, 2026 | Deshaies Robert Josephofficer: COO, Benefits | Sell | 1,000 | $184.95 |
| Jul 29, 2026 | Drew Ann Elenaofficer: Chief Risk and Compliance | Sell | 3,400 | $176.02 |
| Jul 29, 2026 | Kimball Jenniferofficer: Chief Accounting Officer | Sell | 1,183 | $176.55 |
| Jul 8, 2026 | Deshaies Robert Josephofficer: COO, Benefits | Sell | 227 | $145.84 |
| Jul 8, 2026 | Deshaies Robert Josephofficer: COO, Benefits | Sell | 48 | $143.46 |
| Jul 8, 2026 | Deshaies Robert Josephofficer: COO, Benefits | Sell | 135 | $146.90 |
| Jul 8, 2026 | Deshaies Robert Josephofficer: COO, Benefits | Sell | 265 | $147.92 |
| Jul 8, 2026 | Deshaies Robert Josephofficer: COO, Benefits | Sell | 1,317 | $149.26 |
| Jul 8, 2026 | Deshaies Robert Josephofficer: COO, Benefits | Sell | 8 | $149.77 |
| Jul 2, 2026 | Callahan Dondirector | Grant | 186 | — |
| Jul 2, 2026 | Wolfe Lauren Taylordirector | Grant | 79 | — |
| Jul 2, 2026 | GROCH JAMES Rdirector | Grant | 186 | — |
| Jul 2, 2026 | Adams Kurt Patrickdirector | Grant | 79 | — |
| Jun 22, 2026 | Trickett Saraofficer: Chief Legal Officer | Option | 98 | — |
Source: WEX SEC Form 4 filings, latest Aug 6, 2026. For informational purposes only — not investment advice.
See the full WEX insider & 13F page →WEX Inc. company profile
Overview
WEX Inc. (NYSE:WEX) is a financial technology company founded in 1983 and headquartered in Portland, Maine. Originally known as Wright Express Corporation, the company changed its name to WEX Inc. in October 2012 and went public in 2005. WEX has evolved from a fleet payment processor into a diversified fintech platform serving commercial fleets, corporate travel, and employee benefits markets. The company operates through three primary business segments and processes over $200 billion in payment volume annually, serving more than 600,000 customers globally.
Business
WEX operates as a financial technology services provider specializing in payment processing and software-as-a-service solutions across three distinct business segments. The company essentially acts as a financial intermediary, processing payments and providing data analytics for specialized commercial markets. The Mobility Solutions segment (approximately 50% of revenue) provides fleet payment processing services primarily through fuel cards and related financial products. Fleet cards are specialized payment cards that allow commercial vehicle operators to purchase fuel, maintenance services, and other fleet-related expenses while providing detailed transaction data and spending controls. This segment serves small local delivery companies, large trucking fleets, government agencies, and over-the-road transportation companies. WEX processes these transactions, collects interchange fees from merchants, and provides fleet management software that helps customers track fuel consumption, driver behavior, and operational efficiency. The Benefits segment (approximately 30% of revenue) focuses on healthcare payment products and employee benefit administration. The centerpiece is Health Savings Account (HSA) custodial services, where WEX holds and manages tax-advantaged savings accounts that individuals use to pay for qualified medical expenses. HSAs are popular because they offer triple tax advantages - tax-deductible contributions, tax-free growth, and tax-free withdrawals for medical expenses. WEX also provides software-as-a-service platforms that help employers and health plans administer various employee benefits programs. This segment generates revenue from account fees, custodial asset management, and software subscriptions. The Corporate Payments segment (approximately 20% of revenue) delivers payment solutions for business travel and accounts payable automation. This includes virtual credit cards - digital payment credentials generated for specific transactions without physical cards - which are commonly used by travel management companies and online travel agencies. The segment also provides embedded payment solutions, where WEX's payment processing capabilities are integrated directly into other companies' software platforms, and accounts payable automation tools that help businesses streamline their vendor payment processes.
Risks & safety
WEX presents a moderate margin of safety with manageable financial risks but elevated valuation metrics that limit downside protection. • **Liquidity and Solvency**: Cash position of $595.8 million provides adequate liquidity buffer. Current ratio of 1.02 is tight but acceptable given the payment processing business model. Debt-to-equity ratio of 2.94 is elevated but typical for financial services companies with significant customer deposits. • **Cash Flow Concerns**: Free cash flow turned negative in recent quarters (-$514.2 million in Q1 2025, -$51.7 million in Q2 2024) primarily due to working capital fluctuations in the payment processing business rather than operational deterioration. Full-year 2024 free cash flow of $334.1 million demonstrates underlying cash generation capability. • **Valuation Metrics**: Trading at 21.4x P/E ratio and 11.8x EV/EBITDA, representing premium valuations that offer limited margin of safety. Price-to-book ratio of 7.5x reflects significant goodwill and intangible assets from acquisitions. • **Other Considerations**: Strong EBITDA margins around 37% provide operational cushion. Recurring revenue base of approximately 80% offers revenue stability. However, exposure to economic cycles and fuel price volatility creates earnings variability that could pressure valuations during downturns.
Recent development
Over the past few years, WEX has pursued several strategic initiatives to drive growth and operational efficiency. The company completed a major cloud migration and implemented a comprehensive cost optimization program targeting $100 million in annual run-rate savings by 2024, which has been successfully achieved. This initiative involved leveraging artificial intelligence for operational efficiencies and streamlining business processes across all segments. In the Mobility segment, WEX has positioned itself for the electric vehicle transition by developing integrated solutions for mixed fleets that include EV charging management, at-home reimbursement programs, and depot charging capabilities. The company launched 10-4 by WEX, a mobile application targeting independent truckers, and acquired Payzer, a field service management software provider, to expand cross-selling opportunities and create new revenue streams for existing fleet customers. The Benefits segment has focused on enhancing its technology platform with AI-powered benefit assistance tools and personalized HSA account management features. WEX has grown to become the fifth-largest HSA custodian in the market, with over 8 million accounts and $3.9 billion in custodial assets under management. In Corporate Payments, the company has emphasized embedded payment solutions and direct accounts payable automation while managing the transition of large travel customers to new contract structures. WEX established WEX Venture Capital with up to $100 million in funding to invest in fintech innovations and potential acquisition targets. However, the company recently adjusted its long-term growth targets from 8-12% organic revenue growth to 5-10%, reflecting more normalized market conditions in travel and slower HSA account growth trends. Management expects near-term results to remain below these updated targets before reaccelerating in 2026.
WEX company profile · for informational purposes only — not investment advice.
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