Wex Inc Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Wex Inc has an operating margin of 58.1%, meaning the company retains $58 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 26.1% the prior year.
Wex Inc's revenue declined 100% year-over-year, from $2.6B to $1K. This contraction results in a growth score of 0/100.
Wex Inc has elevated debt relative to equity (D/E of 2.86), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 5/100, reflecting increased financial risk.
Wex Inc's current ratio of 1.05 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 22/100, which could limit financial flexibility.
Wex Inc converts 27.5% of revenue into free cash flow ($314). This strong cash generation earns a score of 100/100.
Wex Inc earns a strong 24.6% return on equity (ROE), meaning it generates $25 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 99/100. This is up from 20.8% the prior year.
Wex Inc scores 246393.44, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.4B) relative to total liabilities ($13K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Wex Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Wex Inc generates $1.49 in operating cash flow ($454 OCF vs $304 net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Wex Inc earns $47.8 in operating income for every $1 of interest expense ($664 vs $14). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Wex Inc (WEX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Wex Inc generated $1K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Wex Inc's EBITDA was $995 in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.
Wex Inc generated $314 in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.
Wex Inc reported $304 in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Wex Inc earned $8.47 per diluted share (EPS) in fiscal year 2025. This represents an increase of 12.9% from the prior year.
Wex Inc held $906 in cash against $4K in long-term debt as of fiscal year 2025.
Wex Inc had 34M shares outstanding in fiscal year 2025. This represents a decrease of 11.6% from the prior year.
Wex Inc's gross margin was 3.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 56.8 percentage points from the prior year.
Wex Inc's operating margin was 58.1% in fiscal year 2025, reflecting core business profitability. This is up 32.0 percentage points from the prior year.
Wex Inc's net profit margin was 26.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 14.8 percentage points from the prior year.
Wex Inc's ROE was 24.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.8 percentage points from the prior year.
Wex Inc spent $800 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Wex Inc invested $141 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
WEX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $672.8M-2.7% | $691.8M+4.9% | $659.6M+3.6% | $636.6M0.0% | $636.4M-4.4% | $665.5M-1.2% | $673.5M+3.2% | $652.7M |
| Cost of Revenue | $283.6M+3.4% | $274.3M+0.6% | $272.7M+1.0% | $270.0M+4.8% | $257.6M+3.4% | $249.2M-5.5% | $263.8M-1.3% | $267.2M |
| Gross Profit | $389.2M-6.8% | $417.5M+7.9% | $386.9M+5.5% | $366.6M-3.2% | $378.8M-9.0% | $416.3M+1.6% | $409.7M+6.3% | $385.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $78.2M-15.0% | $92.0M+6.6% | $86.3M+17.1% | $73.7M-21.8% | $94.2M+2.3% | $92.1M-8.8% | $101.0M+14.1% | $88.5M |
| Operating Income | $166.2M-9.5% | $183.6M+17.1% | $156.8M-0.3% | $157.3M0.0% | $157.3M-19.9% | $196.4M+16.8% | $168.1M+2.2% | $164.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $25.8M-28.7% | $36.2M+43.7% | $25.2M-12.8% | $28.9M+73.1% | $16.7M-56.3% | $38.2M+31.3% | $29.1M+20.2% | $24.2M |
| Net Income | $84.2M+4.9% | $80.3M+17.9% | $68.1M-4.8% | $71.5M+11.9% | $63.9M-37.9% | $102.9M+33.6% | $77.0M+17.0% | $65.8M |
| EPS (Diluted) | $2.38+3.5% | $2.30+16.2% | $1.98+9.4% | $1.81+13.1% | $1.60-36.5% | $2.52+37.7% | $1.83+18.1% | $1.55 |
WEX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $14.4B-0.2% | $14.4B-1.6% | $14.7B+5.1% | $14.0B+4.8% | $13.3B-4.6% | $14.0B-2.0% | $14.2B-1.2% | $14.4B |
| Current Assets | $9.7B0.0% | $9.7B-1.8% | $9.9B+7.9% | $9.2B+7.7% | $8.5B-6.5% | $9.1B-2.9% | $9.4B-1.6% | $9.5B |
| Cash & Equivalents | $905.8M+11.4% | $812.9M+5.2% | $772.6M+26.6% | $610.3M+2.4% | $595.8M+11.3% | $535.4M-21.6% | $682.6M-12.4% | $779.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $3.0B+0.1% | $3.0B0.0% | $3.0B+0.7% | $3.0B+0.2% | $3.0B-1.4% | $3.0B+0.6% | $3.0B+0.1% | $3.0B |
| Total Liabilities | $13.2B-1.1% | $13.3B-2.8% | $13.7B+4.1% | $13.2B+11.2% | $11.8B-3.7% | $12.3B-1.4% | $12.5B-1.4% | $12.6B |
| Current Liabilities | $9.3B+0.4% | $9.3B-2.6% | $9.5B+8.4% | $8.8B+5.2% | $8.3B-4.5% | $8.7B-3.9% | $9.1B+0.9% | $9.0B |
| Long-Term Debt | $3.5B-5.0% | $3.7B-4.9% | $3.9B-4.6% | $4.1B+33.0% | $3.1B-1.9% | $3.1B+6.2% | $3.0B-4.0% | $3.1B |
| Total Equity | $1.2B+10.4% | $1.1B+14.3% | $978.7M+20.8% | $810.4M-45.6% | $1.5B-11.2% | $1.7B-5.9% | $1.8B+0.3% | $1.8B |
| Retained Earnings | $2.4B+3.7% | $2.3B+3.6% | $2.2B+3.2% | $2.1B+3.5% | $2.1B+3.2% | $2.0B+5.4% | $1.9B+4.2% | $1.8B |
WEX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $294.7M-21.7% | $376.6M+42.3% | $264.6M+154.9% | -$481.6M-175.4% | $638.4M+19245.5% | $3.3M+147.1% | -$7.0M+95.4% | -$153.3M |
| Capital Expenditures | $58.6M+67.4% | $35.0M+1.2% | $34.6M+6.1% | $32.6M-15.8% | $38.7M+10.6% | $35.0M-11.6% | $39.6M+16.5% | $34.0M |
| Free Cash Flow | $236.1M-30.9% | $341.6M+48.5% | $230.0M+144.7% | -$514.2M-185.7% | $599.7M+1991.8% | -$31.7M+32.0% | -$46.6M+75.1% | -$187.3M |
| Investing Cash Flow | -$302.6M-1507.4% | $21.5M+105.5% | -$392.3M-1569.4% | -$23.5M+90.1% | -$236.6M+26.4% | -$321.3M-278.4% | -$84.9M+73.3% | -$317.8M |
| Financing Cash Flow | $202.1M+145.6% | -$443.6M-229.7% | $342.0M+7.4% | $318.4M+245.3% | -$219.2M-16.7% | -$187.8M+9.5% | -$207.4M-158.6% | $354.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $100K-99.0% | $9.7M-98.8% | $790.0M+628.8% | $108.4M-70.7% | $370.0M+270.0% | $100.0M+35.9% | $73.6M |
WEX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.9%-2.5pp | 60.4%+1.7pp | 58.7%+1.1pp | 57.6%-1.9pp | 59.5%-3.0pp | 62.5%+1.7pp | 60.8%+1.8pp | 59.1% |
| Operating Margin | 24.7%-1.8pp | 26.5%+2.8pp | 23.8%-0.9pp | 24.7%-0.0pp | 24.7%-4.8pp | 29.5%+4.5pp | 25.0%-0.2pp | 25.2% |
| Net Margin | 12.5%+0.9pp | 11.6%+1.3pp | 10.3%-0.9pp | 11.2%+1.2pp | 10.0%-5.4pp | 15.5%+4.0pp | 11.4%+1.3pp | 10.1% |
| Return on Equity | 6.8%-0.4pp | 7.2%+0.2pp | 7.0%-1.9pp | 8.8%+4.5pp | 4.3%-1.8pp | 6.1%+1.8pp | 4.3%+0.6pp | 3.7% |
| Return on Assets | 0.6%+0.0pp | 0.6%+0.1pp | 0.5%-0.1pp | 0.5%+0.0pp | 0.5%-0.3pp | 0.7%+0.2pp | 0.5%+0.1pp | 0.5% |
| Current Ratio | 1.050.0 | 1.050.0 | 1.040.0 | 1.05+0.0 | 1.02-0.0 | 1.04+0.0 | 1.03-0.0 | 1.06 |
| Debt-to-Equity | 2.86-0.5 | 3.33-0.7 | 3.99-1.1 | 5.06+3.0 | 2.07+0.2 | 1.87+0.2 | 1.66-0.1 | 1.73 |
| FCF Margin | 35.1%-14.3pp | 49.4%+14.5pp | 34.9%+115.6pp | -80.8%-175.0pp | 94.2%+99.0pp | -4.8%+2.2pp | -6.9%+21.8pp | -28.7% |
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Frequently Asked Questions
What is Wex Inc's annual revenue?
Wex Inc (WEX) reported $1K in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Wex Inc's revenue growing?
Wex Inc (WEX) revenue declined by 100% year-over-year, from $2.6B to $1K in fiscal year 2025.
Is Wex Inc profitable?
Yes, Wex Inc (WEX) reported a net income of $304 in fiscal year 2025, with a net profit margin of 26.6%.
What is Wex Inc's earnings per share (EPS)?
Wex Inc (WEX) reported diluted earnings per share of $8.47 for fiscal year 2025. This represents a 12.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Wex Inc's EBITDA?
Wex Inc (WEX) had EBITDA of $995 in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Wex Inc have?
As of fiscal year 2025, Wex Inc (WEX) had $906 in cash and equivalents against $4K in long-term debt.
What is Wex Inc's gross margin?
Wex Inc (WEX) had a gross margin of 3.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Wex Inc's operating margin?
Wex Inc (WEX) had an operating margin of 58.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Wex Inc's net profit margin?
Wex Inc (WEX) had a net profit margin of 26.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Wex Inc's return on equity (ROE)?
Wex Inc (WEX) has a return on equity of 24.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Wex Inc's free cash flow?
Wex Inc (WEX) generated $314 in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Wex Inc's operating cash flow?
Wex Inc (WEX) generated $454 in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Wex Inc's total assets?
Wex Inc (WEX) had $14K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Wex Inc's capital expenditures?
Wex Inc (WEX) invested $141 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Wex Inc buy back shares?
Yes, Wex Inc (WEX) spent $800 on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Wex Inc have outstanding?
Wex Inc (WEX) had 34M shares outstanding as of fiscal year 2025.
What is Wex Inc's current ratio?
Wex Inc (WEX) had a current ratio of 1.05 as of fiscal year 2025, which is considered adequate.
What is Wex Inc's debt-to-equity ratio?
Wex Inc (WEX) had a debt-to-equity ratio of 2.86 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Wex Inc's return on assets (ROA)?
Wex Inc (WEX) had a return on assets of 2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Wex Inc's Altman Z-Score?
Wex Inc (WEX) has an Altman Z-Score of 246393.44, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Wex Inc's Piotroski F-Score?
Wex Inc (WEX) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Wex Inc's earnings high quality?
Wex Inc (WEX) has an earnings quality ratio of 1.49x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Wex Inc cover its interest payments?
Wex Inc (WEX) has an interest coverage ratio of 47.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Wex Inc?
Wex Inc (WEX) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.