WEX (WEX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

WEX

NYSE•Technology•Software - Infrastructure

$197.17-2.91(-0.01%)Pre-market

Market Cap

$6.72B

P/E

19.2x

P/S

2.4x

P/B

5.0x

WEX Inc. operates a commerce platform in the United States and internationally. The Mobility segment offers fleet payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings. This segment markets its products directly and indirectly to businesses and government agencies with fleets of commercial vehicles; and indirectly through co-branded and private label relationships. The Corporate Payments segment provides payment solutions, including embedded payments; and accounts payable automation and spend management solutions. This segment also markets its products directly and indirectly to customers in travel, fintech, insurance, consumer bill pay, and media verticals. The Benefits segment offers software-as-a-service (SaaS) platform for consumer directed healthcare benefits and full-service benefit enrollment solutions. In addition, its SaaS platform includes embedded payment solutions and plan administration services for consumer-directed health benefits; COBRA accounts; and benefit enrollment and administration services. Further, it offers custodial and depository services for health savings accounts; and markets its products through third-party administrators, financial institutions, payroll providers, and health plans. WEX Inc. was formerly known as Wright Express Corporation and changed its name to WEX Inc. in October 2012. WEX Inc. was founded in 1983 and is headquartered in Portland, Maine.

How this company scores

GoodMetricSide Score: 70/100

Strongest: Profitability (25/25); weakest: Cash & Earnings Quality (12/25).

Profitability25/25

Growth18/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality12/25

Strengths

Strong marginsHigh ROECash-backed earningsProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 19.2x5y range 16.4x – 52.6x

Currently below its 19-quarter median.

P/S · 2.4x5y range 1.9x – 4.5x

Currently near its 20-quarter median.

P/B · 5.0x5y range 3.5x – 7.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Leverage Risk

Watch

D/E ratio of 2.6 is elevated. Watch for further debt accumulation.

Price & Volume

Market Cap $6.72B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.79B
Q. Revenue: $753.50M
TTM EBITDA: $1.04B
TTM Op. Income: $711.20M
Q. Op. Income: $203.20M
TTM Net Income: $350.70M
Q. Net Income: $108.50M
EPS: $3.13
Shares Out.: $34.70M

$2.79B in TTM revenue grew 7.5% YoY, reaching $753.50M last quarter. TTM EBITDA of $1.04B and TTM operating income of $711.20M show growth is flowing through to the bottom line. TTM net income of $350.70M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 32.8%
Op. Margin: 27.0%
Net Margin: 14.4%

Op. margin of 27.0% is up 3.2% YoY — cost efficiency is improving. Net margin at 14.4% Over the past year, operating margin is up 13% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 19.2x
P/S Ratio: 2.4x
P/B Ratio: 5.0x

At 19.2x P/E, the stock trades within typical market levels. P/S of 2.4x and P/B of 5.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 16% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $16.50B
Cash: $1.16B
Long-Term Debt: $3.52B
Book Value: $1.34B
D/E Ratio: 2.6
Debt/EBITDA: 14.3

With $16.50B in assets and $3.52B in long-term debt, D/E is 2.6and book value is $1.34B — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-77.60M
TTM Free Cash Flow: $108.50M
FCF Margin: 3.9%
FCF / Net Income: 0.3

TTM FCF of $108.50M on $-77.60M in operating cash flow. The FCF / Net Income ratio of 0.3x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 62% — a weakening trend.