WEX Inc. (WEX) reported $2.88B of revenue for the twelve months ended Sep 30, 2026. That is up 9.7% from the year before. Revenue for fiscal 2025 was $2.66B.

Yes. WEX Inc. earned $404.60M in net income for the twelve months ended Sep 30, 2026, a net margin of 14.0%.

How much cash and debt does WEX have?

WEX Inc. reported $593.20M in cash and cash equivalents and $5.32B of debt on its most recent balance sheet in SEC filings.

How fast is WEX revenue growing?

WEX Inc.'s revenue changed +1.2% in fiscal 2025, to $2.66B. Its compound annual growth rate was +11.3% over 5 years and +12.0% over 10 years.

What is WEX gross margin?

WEX Inc.'s gross profit was $1.74B on $2.88B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 60.4%.

What is WEX free cash flow?

WEX Inc. generated -$311.50M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$124.90M less capital expenditures.

What is WEX earnings per share?

Diluted earnings per share were $11.59 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did WEX last report financial results?

The latest statements here come from WEX Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.

Where does this WEX financial data come from?

Quantisnow builds these statements from the structured XBRL data WEX Inc. files with the SEC. It is provided for information only and is not investment advice.

Financials · WEX

WEX Inc. (WEX) financials

For the twelve months ended Sep 30, 2026, WEX Inc. reported $2.88B of revenue and $404.60M of net income.

Revenue, TTM: $2.88B
Revenue growth, YoY: +9.7%
Net income, TTM: $404.60M
Net income growth, YoY: +42.6%
Net margin: 14.0%
Free cash flow, TTM: -$311.50M
EPS, diluted, TTM: $11.59
EPS growth, YoY: +50.7%
Cash: $593.20M
Total debt: $5.32B
P/E: 14.83
P/S: 2.08
Market cap: $6.00B

Annual revenue$2.66B

FY2016FY2025

Annual net income$304.10M

FY2016FY2025

Annual free cash flow$313.70M

FY2016FY2025

WEX revenue and earnings growth

WEX revenueQ3 2026$780.10M

Quarter YoY: +12.8%
QoQ: +3.5%
FY YoY: +1.2%
5Y CAGR: +11.3%
10Y CAGR: +12.0%

WEX revenue was $780.10M in fiscal Q3 2026 (ended Sep 30, 2026), up 12.8% from a year earlier and up 3.5% from the prior quarter. For the full fiscal 2025 it was $2.66B, up 1.2% from fiscal 2024. Compound annual growth was +11.3% over 5 years and +12.0% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

WEX net incomeQ3 2026$134.10M

Quarter YoY: +67.0%
QoQ: +23.6%
FY YoY: -1.8%
10Y CAGR: +10.6%

WEX net income was $134.10M in fiscal Q3 2026 (ended Sep 30, 2026), up 67.0% from a year earlier and up 23.6% from the prior quarter. For the full fiscal 2025 it was $304.10M, down 1.8% from fiscal 2024. Compound annual growth was +10.6% over 10 years. It rose in 3 of the last 4 fiscal years.

WEX EPSQ3 2026$3.88

Quarter YoY: +68.7%
QoQ: +24.8%
FY YoY: +12.9%
10Y CAGR: +12.4%

WEX diluted EPS was $3.88 in fiscal Q3 2026 (ended Sep 30, 2026), up 68.7% from a year earlier and up 24.8% from the prior quarter. For the full fiscal 2025 it was $8.47, up 12.9% from fiscal 2024. Compound annual growth was +12.4% over 10 years.

WEX free cash flowQ3 2026-$58.20M

FY YoY: -6.1%
5Y CAGR: -13.7%
10Y CAGR: -1.9%

WEX free cash flow was -$58.20M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $341.60M a year earlier. For the full fiscal 2025 it was $313.70M, down 6.1% from fiscal 2024. Compound annual growth was -13.7% over 5 years and -1.9% over 10 years. It rose in 1 of the last 3 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$2.66B	$2.63B	$2.55B	$2.35B	$1.85B	$1.56B	$1.72B	$1.49B	$1.25B	$1.01B
Cost of revenue	$1.10B	$1.04B	$973.30M	$930.50M	$702.10M	$673.17M	$659.77M	$547.93M	$514.28M	$458.81M
Gross profit	$1.56B	$1.59B	$1.57B	$1.42B	$1.15B	$886.69M	$1.06B	$944.71M	$734.29M	$553.68M
Selling, general and admin	$330.20M	$375.80M	$428.00M	$343.90M	$326.90M	$292.11M	$275.81M	$209.32M	$184.34M	$185.56M
Operating income	$663.90M	$686.30M	$647.10M	$469.80M	$342.00M	-$91.67M	$385.84M	$380.64M	$233.42M	$158.53M
Interest expense	-	-	-	$130.69M	$128.42M	$157.08M	$134.68M	$105.02M	-	-
Pre-tax income	$420.20M	$417.80M	$368.80M	$260.50M	$203.90M	-$301.08M	$216.52M	$238.62M	$174.42M	$48.93M
Income tax	$116.10M	$108.20M	$102.20M	$93.10M	$67.80M	-$20.60M	$61.22M	$68.84M	$15.45M	$28.59M
Net income	$304.10M	$309.60M	$266.60M	$167.20M	$135.30M	-$283.95M	$156.32M	$168.29M	$160.06M	$20.34M
EPS, basic	$8.57	$7.59	$6.23	$4.54	$0.00	-$5.56	$2.29	$3.90	$3.72	$0.58
EPS, diluted	$8.47	$7.50	$6.16	$4.50	$0.00	-$5.56	$2.26	$3.86	$3.71	$0.57
Diluted shares	35.9M	41.3M	43.3M	44.7M	45.3M	43.8M	43.8M	43.6M	43.1M	40.9M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$905.80M	$1.44B	$2.23B	$1.86B	$1.26B	$852.00M	$810.93M	$541.50M	$503.52M	$190.93M
Short-term investments	$4.33B	$3.76B	$3.02B	$1.40B	$948.68M	$0	-	-	-	-
Current assets	$9.71B	$8.52B	$8.94B	$6.82B	$5.30B	$3.50B	$3.84B	$3.40B	$3.21B	-
Goodwill	$3.02B	$2.98B	$3.02B	$2.73B	$2.91B	$2.69B	$2.44B	$1.83B	$1.88B	$1.84B
Total assets	$14.40B	$13.32B	$13.88B	$11.53B	$10.31B	$8.18B	$8.30B	$6.77B	$6.69B	$6.00B
Current liabilities	$9.29B	$8.33B	$8.52B	$6.29B	$4.40B	$2.74B	$3.05B	$2.31B	$2.58B	-
Short-term debt	$1.33B	$1.29B	$1.04B	$202.60M	$155.77M	$152.73M	$248.53M	$216.52M	$397.22M	-
Long-term debt	$3.53B	$3.08B	$2.83B	$2.52B	$2.70B	$2.87B	$2.69B	$2.13B	$2.03B	-
Total debt	$4.86B	$4.38B	$3.87B	$2.72B	$2.85B	$3.03B	$2.94B	$2.35B	$2.42B	$125.75M
Total liabilities	$13.16B	$11.83B	$12.06B	$9.88B	$8.21B	$6.15B	$6.21B	$4.97B	$5.06B	$4.49B
Shareholders' equity	$1.23B	$1.49B	$1.82B	$1.65B	$1.84B	$1.88B	$1.93B	$1.80B	$1.63B	$1.42B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$454.30M	$481.40M	$907.90M	$679.40M	-$42.60M	$736.80M	$663.17M	$400.23M	$135.43M	-$141.19M
Capital expenditures	$140.60M	$147.30M	$143.60M	$112.90M	$86.00M	$80.47M	$102.86M	$87.15M	$79.28M	$61.80M
Free cash flow	$313.70M	$334.10M	$764.30M	$566.50M	-$128.60M	$656.33M	$560.31M	$313.08M	$56.15M	-$202.99M
Investing cash flow	-$696.90M	-$960.60M	-$2.14B	-$716.70M	-$1.60B	-$329.09M	-$990.61M	-$254.18M	-$168.05M	-$1.16B
Financing cash flow	$418.90M	-$260.30M	$1.57B	$681.30M	$1.60B	-$59.04M	$749.77M	-$102.73M	$359.38M	$1.22B
Share repurchases	$799.80M	$652.00M	$303.40M	$282.80M	$0	$0	-	-	$0	$0
Stock-based compensation	$100.30M	$112.20M	$127.00M	$97.90M	$74.80M	$63.86M	$45.81M	$33.89M	$30.49M	$19.74M
Depreciation and amortization	$331.10M	$321.30M	$276.20M	$263.90M	$272.60M	$261.93M	$237.13M	$199.81M	$203.72M	$141.65M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	1.2%	3.1%	8.4%	27.0%	18.6%	-9.5%	15.5%	19.5%	23.3%	18.5%
Net income growth, YoY	-1.8%	16.1%	59.4%	23.6%	-	-	-7.1%	5.1%	687.0%	-81.7%
EPS growth, YoY	12.9%	21.8%	36.9%	-	-	-	-41.5%	4.0%	550.9%	-78.2%
Gross margin	58.6%	60.5%	61.8%	60.4%	62.1%	56.8%	61.7%	63.3%	58.8%	54.7%
Operating margin	25.0%	26.1%	25.4%	20.0%	18.5%	-5.9%	22.4%	25.5%	18.7%	15.7%
Net margin	11.4%	11.8%	10.5%	7.1%	7.3%	-18.2%	9.1%	11.3%	12.8%	2.0%
Free cash flow margin	11.8%	12.7%	30.0%	24.1%	-6.9%	42.1%	32.5%	21.0%	4.5%	-20.0%
Return on equity	24.6%	20.8%	14.6%	10.1%	7.4%	-15.1%	8.1%	9.4%	9.8%	1.4%
Return on assets	2.1%	2.3%	1.9%	1.5%	1.3%	-3.5%	1.9%	2.5%	2.4%	0.3%
Current ratio	1.05	1.02	1.05	1.08	1.20	1.28	1.26	1.47	1.24	-
Debt to equity	3.94	2.94	2.12	1.65	1.55	1.61	1.52	1.31	1.49	0.09

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$780.10M	$753.50M	$673.80M	$672.90M	$691.80M	$659.60M	$636.60M	$636.50M	$665.50M	$673.50M	$652.70M	$663.30M
Cost of revenue	$287.40M	$289.70M	$280.10M	$283.60M	$274.30M	$272.70M	$270.00M	$257.60M	$249.20M	$263.80M	$267.20M	$255.90M
Gross profit	$492.70M	$463.80M	$393.70M	$389.30M	$417.50M	$386.90M	$366.60M	$378.90M	$416.30M	$409.70M	$385.50M	$407.40M
Selling, general and admin	$100.70M	$104.30M	$87.30M	$78.30M	$92.00M	$86.30M	$73.70M	$94.20M	$92.10M	$101.00M	$88.50M	$116.30M
Operating income	$238.80M	$203.20M	$158.20M	$166.30M	$183.60M	$156.80M	$157.30M	$157.30M	$196.40M	$168.10M	$164.50M	$158.50M
Pre-tax income	$185.50M	$150.50M	$108.50M	$110.00M	$116.40M	$93.40M	$100.40M	$80.60M	$141.10M	$106.10M	$90.00M	$108.40M
Income tax	$51.40M	$41.90M	$30.80M	$25.80M	$36.20M	$25.20M	$28.90M	$16.60M	$38.20M	$29.10M	$24.20M	$23.50M
Net income	$134.10M	$108.50M	$77.70M	$84.30M	$80.30M	$68.10M	$71.50M	$63.90M	$102.90M	$77.00M	$65.80M	$84.90M
EPS, basic	$3.95	$3.13	$2.25	$2.41	$2.34	$1.98	$1.84	$1.61	$2.56	$1.85	$1.57	$2.00
EPS, diluted	$3.88	$3.11	$2.22	$2.38	$2.30	$1.98	$1.81	$1.60	$2.52	$1.83	$1.55	$1.98
Diluted shares	34.6M	34.9M	35.0M	-	34.8M	34.4M	39.4M	-	40.8M	42.0M	42.4M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$593.20M	$1.16B	$633.50M	$905.80M	$812.90M	$772.60M	$610.30M	$1.44B	$1.31B	$1.78B	$779.60M	$2.23B
Short-term investments	$4.67B	$4.94B	$4.78B	$4.33B	$4.13B	$4.14B	$3.83B	$3.76B	$3.72B	$3.32B	$3.30B	$3.02B
Current assets	$11.54B	$11.81B	$10.71B	$9.71B	$9.72B	$9.90B	$9.17B	$8.52B	$9.11B	$9.38B	$9.53B	$8.94B
Goodwill	$3.03B	$3.02B	$3.02B	$3.02B	$3.01B	$3.01B	$2.99B	$2.98B	$3.02B	$3.01B	$3.00B	$3.02B
Total assets	$16.20B	$16.50B	$15.43B	$14.40B	$14.43B	$14.67B	$13.96B	$13.32B	$13.96B	$14.25B	$14.42B	$13.88B
Current liabilities	$11.25B	$11.30B	$10.22B	$9.29B	$9.25B	$9.50B	$8.76B	$8.33B	$8.72B	$9.07B	$8.99B	$8.52B
Short-term debt	$1.86B	$1.83B	$1.63B	$1.33B	$1.31B	$1.53B	$1.49B	$1.29B	$1.44B	$1.25B	$1.11B	$1.04B
Long-term debt	$3.46B	$3.52B	$3.61B	$3.53B	$3.72B	$3.91B	$4.10B	$3.08B	$3.14B	$2.96B	$3.08B	$2.83B
Total debt	$5.32B	$5.36B	$5.24B	$4.86B	$5.03B	$5.44B	$5.58B	$4.38B	$4.58B	$4.21B	$4.19B	$3.87B
Total liabilities	$15.04B	$15.15B	$14.15B	$13.16B	$13.31B	$13.69B	$13.15B	$11.83B	$12.28B	$12.46B	$12.64B	$12.06B
Shareholders' equity	$1.15B	$1.34B	$1.27B	$1.23B	$1.12B	$978.70M	$810.40M	$1.49B	$1.68B	$1.78B	$1.78B	$1.82B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	-$11.20M	-$77.60M	-$330.80M	$294.70M	$376.60M	$264.60M	-$481.60M	$638.40M	$3.30M	-$7.00M	-$153.30M	$761.90M
Capital expenditures	$47.00M	$43.50M	$37.50M	$58.60M	$35.00M	$34.60M	$32.60M	$38.70M	$35.00M	$39.60M	$34.00M	$41.90M
Free cash flow	-$58.20M	-$121.10M	-$368.30M	$236.10M	$341.60M	$230.00M	-$514.20M	$599.70M	-$31.70M	-$46.60M	-$187.30M	$720.00M
Investing cash flow	$48.20M	-$255.90M	-$524.10M	-$302.60M	$21.50M	-$392.30M	-$23.50M	-$236.60M	-$321.30M	-$84.90M	-$317.80M	-$566.90M
Financing cash flow	-$635.50M	$873.00M	$423.10M	$202.10M	-$443.60M	$342.00M	$318.40M	-$219.20M	-$187.80M	-$207.40M	$354.10M	-$132.00M
Share repurchases	$203.60M	$63.80M	$0	$0	$100.0K	$9.70M	$790.00M	$108.40M	$370.00M	$100.00M	$73.60M	$150.80M
Stock-based compensation	$43.10M	$36.40M	$27.50M	$22.50M	$33.50M	$31.70M	$12.60M	$22.10M	$28.60M	$33.40M	$28.10M	$35.30M
Depreciation and amortization	$43.90M	$43.70M	$81.60M	$81.90M	$44.70M	$46.00M	$81.50M	$81.80M	$46.90M	$46.90M	$78.40M	$74.90M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	12.8%	14.2%	5.8%	5.7%	4.0%	-2.1%	-2.5%	-4.0%	2.2%	8.4%	6.7%	7.2%
Net income growth, YoY	67.0%	59.3%	8.7%	31.9%	-22.0%	-11.6%	8.7%	-24.7%	459.2%	-19.2%	-3.2%	-4.3%
EPS growth, YoY	68.7%	57.1%	22.7%	48.7%	-8.7%	8.2%	16.8%	-19.2%	500.0%	-16.8%	-0.6%	-2.5%
Gross margin	63.2%	61.6%	58.4%	57.9%	60.3%	58.7%	57.6%	59.5%	62.6%	60.8%	59.1%	61.4%
Operating margin	30.6%	27.0%	23.5%	24.7%	26.5%	23.8%	24.7%	24.7%	29.5%	25.0%	25.2%	23.9%
Net margin	17.2%	14.4%	11.5%	12.5%	11.6%	10.3%	11.2%	10.0%	15.5%	11.4%	10.1%	12.8%
Free cash flow margin	-7.5%	-16.1%	-54.7%	35.1%	49.4%	34.9%	-80.8%	94.2%	-4.8%	-6.9%	-28.7%	108.5%
Current ratio	1.03	1.04	1.05	1.05	1.05	1.04	1.05	1.02	1.04	1.03	1.06	1.05
Debt to equity	4.62	3.98	4.11	3.94	4.49	5.56	6.89	2.94	2.73	2.36	2.36	2.12

Source: XBRL data WEX Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

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WEX FAQ

9 questions

What is WEX revenue?
WEX Inc. (WEX) reported $2.88B of revenue for the twelve months ended Sep 30, 2026. That is up 9.7% from the year before. Revenue for fiscal 2025 was $2.66B.
Is WEX profitable?
Yes. WEX Inc. earned $404.60M in net income for the twelve months ended Sep 30, 2026, a net margin of 14.0%.
How much cash and debt does WEX have?
WEX Inc. reported $593.20M in cash and cash equivalents and $5.32B of debt on its most recent balance sheet in SEC filings.
How fast is WEX revenue growing?
WEX Inc.'s revenue changed +1.2% in fiscal 2025, to $2.66B. Its compound annual growth rate was +11.3% over 5 years and +12.0% over 10 years.
What is WEX gross margin?
WEX Inc.'s gross profit was $1.74B on $2.88B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 60.4%.
What is WEX free cash flow?
WEX Inc. generated -$311.50M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$124.90M less capital expenditures.
What is WEX earnings per share?
Diluted earnings per share were $11.59 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did WEX last report financial results?
The latest statements here come from WEX Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
Where does this WEX financial data come from?
Quantisnow builds these statements from the structured XBRL data WEX Inc. files with the SEC. It is provided for information only and is not investment advice.