WEX (WEX) Financials

$124.35 +2.91 (+2.40%)

Closing price 05/2/2025 03:59 PM Eastern

Extended Trading

$126.62 +2.27 (+1.82%)

As of 05/2/2025 04:25 PM Eastern

Annual Income Statements for WEX

This table shows WEX's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	102	23	160	168	99	-244	0.10	201	267	310
Consolidated Net Income / (Loss)	110	20	159	170	155	-280	136	168	267	310
Net Income / (Loss) Continuing Operations	110	20	159	170	155	-280	136	167	267	310
Total Pre-Tax Income	185	49	174	239	217	-301	204	261	369	418
Total Operating Income	229	159	212	381	386	-92	342	470	647	686
Total Gross Profit	455	554	734	945	1,064	887	1,148	1,420	1,575	1,590
Total Revenue	855	1,012	1,249	1,493	1,724	1,560	1,851	2,351	2,548	2,628
Operating Revenue	742	1,012	1,249	1,493	1,724	1,560	1,851	2,351	2,548	2,628
Total Cost of Revenue	399	459	514	548	660	673	702	931	973	1,038
Operating Cost of Revenue	377	459	450	481	594	595	657	751	884	970
Other Cost of Revenue	23	-	64	66	66	78	45	180	90	68
Total Operating Expenses	226	395	522	564	678	978	807	950	928	904
Selling, General & Admin Expense	89	186	184	209	276	292	327	344	428	376
Marketing Expense	-	131	164	229	260	267	319	312	328	341
Depreciation Expense	83	79	130	120	142	157	161	158	172	187
Impairment Charge	0.00	0.00	44	5.65	0.00	53	0.00	137	0.00	0.00
Total Other Income / (Expense), net	-44	-110	-38	-142	-169	-209	-138	-209	-278	-269
Interest Expense	46	113	107	105	135	157	0.00	0.00	70	0.00
Other Income / (Expense), net	2.30	3.82	69	-37	-35	-52	-138	-209	-208	-269
Income Tax Expense	75	29	15	69	61	-21	68	93	102	108
Preferred Stock Dividends Declared	9.41	-	0.00	0.00	57	-40	135	-34	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.71	-3.16	-1.10	1.48	-1.03	3.47	0.80	0.30	0.00	0.00
Basic Earnings per Share	$2.63	$0.58	$3.72	$3.90	$2.29	($5.56)	$0.00	$4.54	$6.23	$7.59
Weighted Average Basic Shares Outstanding	38.77M	40.81M	42.98M	43.16M	43.32M	43.84M	44.70M	44.40M	42.80M	40.80M
Diluted Earnings per Share	$2.62	$0.57	$3.71	$3.86	$2.26	($5.56)	$0.00	$4.50	$6.16	$7.50
Weighted Average Diluted Shares Outstanding	38.84M	40.91M	43.11M	43.57M	43.77M	43.84M	45.30M	44.70M	43.30M	41.30M
Weighted Average Basic & Diluted Shares Outstanding	38.70M	40.70M	43M	43.20M	43.20M	44.19M	44.83M	43.13M	41.73M	38.82M

This table shows WEX's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-44	764	68	95	18	85	66	77	103	64	72
Consolidated Net Income / (Loss)	-44	89	68	95	18	85	66	77	103	64	72
Net Income / (Loss) Continuing Operations	-44	764	68	95	18	85	66	77	103	64	72
Total Pre-Tax Income	-43	799	98	118	44	108	90	106	141	81	100
Total Operating Income	21	847	154	159	175	159	165	168	196	157	157
Total Gross Profit	364	1,058	365	386	416	407	386	410	416	379	367
Total Revenue	616	1,136	612	621	651	663	653	674	666	636	637
Operating Revenue	616	-	612	621	651	663	653	674	666	636	637
Total Cost of Revenue	252	78	247	235	235	256	267	264	249	258	270
Operating Cost of Revenue	198	20	202	212	226	244	245	243	240	242	254
Other Cost of Revenue	54	58	45	23	9.40	12	22	21	9.70	16	16
Total Operating Expenses	343	212	210	227	241	249	221	242	220	222	209
Selling, General & Admin Expense	87	95	89	106	117	116	89	101	92	94	74
Marketing Expense	81	77	80	79	83	86	85	94	81	81	91
Depreciation Expense	39	40	42	42	42	46	47	47	47	46	45
Total Other Income / (Expense), net	-65	-47	-56	-42	-131	-50	-75	-62	-55	-77	-57
Other Income / (Expense), net	-30	-143	-56	-42	-60	-50	-75	-62	-55	-77	-57
Income Tax Expense	0.80	36	30	23	26	24	24	29	38	17	29
Basic Earnings per Share	($1.00)	$2.05	$1.58	$2.22	$0.43	$2.00	$1.57	$1.85	$2.56	$1.61	$1.84
Weighted Average Basic Shares Outstanding	44.20M	44.40M	43.10M	42.90M	42.90M	42.80M	41.80M	41.70M	40.30M	40.80M	38.90M
Diluted Earnings per Share	($1.00)	$2.03	$1.56	$2.20	$0.42	$1.98	$1.55	$1.83	$2.52	$1.60	$1.81
Weighted Average Diluted Shares Outstanding	44.20M	44.70M	43.60M	43.40M	43.40M	43.30M	42.40M	42M	40.80M	41.30M	39.40M
Weighted Average Basic & Diluted Shares Outstanding	43.59M	43.13M	42.84M	42.95M	42.74M	41.73M	41.90M	41.08M	39.78M	38.82M	34.24M

This table details how cash moves in and out of WEX's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-4.77	-83	309	43	426	348	-73	603	370	-793
Net Cash From Operating Activities	445	-141	135	400	663	737	-43	679	908	481
Net Cash From Continuing Operating Activities	445	-141	135	400	663	737	-43	680	908	482
Net Income / (Loss) Continuing Operations	110	20	159	170	155	-280	136	168	267	310
Consolidated Net Income / (Loss)	110	20	159	170	155	-280	136	168	267	310
Depreciation Expense	83	142	204	200	237	262	273	264	276	321
Amortization Expense	3.10	13	7.96	9.67	9.94	26	16	17	19	11
Non-Cash Adjustments To Reconcile Net Income	50	62	113	129	140	290	132	434	284	193
Changes in Operating Assets and Liabilities, net	199	-378	-348	-108	120	440	-599	-203	63	-354
Net Cash From Investing Activities	-127	-1,160	-168	-254	-991	-329	-1,601	-717	-2,138	-961
Net Cash From Continuing Investing Activities	-127	-1,160	-168	-254	-991	-329	-1,601	-717	-2,138	-961
Purchase of Property, Plant & Equipment	-63	-62	-79	-87	-103	-80	-86	-113	-144	-147
Acquisitions	-81	-1,093	-119	-166	-882	-243	-559	-3.30	-407	-6.00
Purchase of Investments	-0.35	-5.85	-0.47	-1.77	-5.57	-6.46	-994	-661	-1,786	-1,314
Sale and/or Maturity of Investments	0.59	0.50	0.63	0.27	0.23	1.02	38	61	198	506
Net Cash From Financing Activities	-320	1,216	359	-103	750	-59	1,596	681	1,573	-260
Net Cash From Continuing Financing Activities	-320	1,216	359	-103	750	-59	1,596	681	1,573	-260
Repayment of Debt	-2,430	-4,224	-4,275	-1,821	-1,378	-449	-1,998	-2,518	-3,163	-8,552
Repurchase of Common Equity	-24	-	-	-	-	0.00	0.00	-283	-303	-652
Issuance of Debt	2,203	5,211	4,436	1,749	1,957	599	1,760	2,389	3,449	8,728
Other Financing Activities, net	-68	229	199	-30	171	-300	1,834	1,093	1,590	216
Other Net Changes in Cash	-	-	-18	-	4.02	-0.41	-25	-41	27	-54
Cash Interest Paid	49	116	129	141	176	163	132	129	248	329
Cash Income Taxes Paid	27	24	6.68	39	51	-8.44	51	143	130	132

This table details how cash moves in and out of WEX's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	447	158	21	239	-2.10	113	-148	-303	-467	125	-160
Net Cash From Operating Activities	428	573	27	72	47	762	-153	-7.00	3.30	638	-482
Net Cash From Continuing Operating Activities	428	573	27	72	47	762	-153	-7.00	3.20	639	-482
Net Income / (Loss) Continuing Operations	-44	89	68	95	18	85	66	77	103	64	72
Consolidated Net Income / (Loss)	-44	89	68	95	18	85	66	77	103	64	72
Depreciation Expense	66	66	67	67	68	75	78	80	82	82	82
Non-Cash Adjustments To Reconcile Net Income	220	140	82	55	146	1.20	61	57	33	44	27
Changes in Operating Assets and Liabilities, net	186	261	-190	-144	-185	582	-358	-220	-214	438	-661
Net Cash From Investing Activities	-53	-53	-1,062	-260	-249	-567	-318	-85	-321	-237	-24
Net Cash From Continuing Investing Activities	-53	-53	-1,062	-260	-249	-567	-318	-85	-321	-237	-24
Purchase of Property, Plant & Equipment	-30	-37	-31	-35	-36	-42	-34	-40	-35	-39	-33
Acquisitions	-3.30	-	-4.50	-	-156	-246	0.00	-5.10	-0.90	-	-15
Purchase of Investments	-39	-28	-1,107	-260	-87	-332	-392	-135	-392	-395	-146
Sale and/or Maturity of Investments	19	13	81	34	30	54	109	95	106	197	176
Other Investing Activities, net	-	-	0.00	-	-	-	-0.90	-	-	-	-5.90
Net Cash From Financing Activities	127	-422	1,044	425	237	-132	354	-207	-188	-219	318
Net Cash From Continuing Financing Activities	127	-422	1,044	425	237	-132	354	-207	-188	-219	318
Repayment of Debt	-698	-635	-612	-825	-996	-730	-811	-2,251	-2,768	-2,723	-3,102
Repurchase of Common Equity	-69	-133	-101	-3.10	-49	-151	-74	-100	-370	-108	-790
Issuance of Debt	552	563	704	698	1,078	970	1,042	2,112	2,977	2,596	4,103
Other Financing Activities, net	342	-218	1,053	555	204	-221	196	31	-27	16	108
Other Net Changes in Cash	-	-	-	-	-36	50	-	-	-	-57	27

This table presents WEX's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	3,848	5,997	6,689	6,771	8,298	8,183	10,307	11,529	13,882	13,322
Total Current Assets	1,900	2,377	3,206	3,398	3,842	3,503	5,300	6,817	8,935	8,516
Cash & Equivalents	280	191	504	541	811	852	589	922	976	596
Restricted Cash	-	-	19	14	170	478	668	938	1,254	838
Short-Term Investments	19	24	-	-	-	0.00	949	1,395	3,022	3,765
Accounts Receivable	1,596	2,152	2,606	2,694	2,773	2,087	3,016	3,419	3,558	3,118
Prepaid Expenses	-	-	78	149	88	87	78	143	125	199
Plant, Property, & Equipment, net	139	167	164	188	212	188	180	202	243	261
Total Noncurrent Assets	1,809	3,452	3,319	3,185	4,244	4,492	4,828	4,510	4,704	4,545
Long-Term Investments	-	-	23	24	30	37	40	48	67	81
Goodwill	1,113	1,838	1,876	1,832	2,441	2,688	2,908	2,729	3,016	2,983
Intangible Assets	471	1,265	1,154	1,034	1,575	1,552	1,643	1,474	1,459	1,260
Noncurrent Deferred & Refundable Income Taxes	10	6.93	7.72	9.64	13	18	5.64	13	14	18
Other Noncurrent Operating Assets	216	342	258	284	184	197	231	246	149	203
Total Liabilities & Shareholders' Equity	3,848	5,997	6,689	6,771	8,298	8,183	10,307	11,529	13,882	13,322
Total Liabilities	2,752	4,491	5,059	4,975	6,205	6,148	8,214	9,880	12,062	11,833
Total Current Liabilities	1,408	2,068	2,576	2,312	3,050	2,741	4,400	6,294	8,519	8,327
Short-Term Debt	-	-	397	217	249	153	156	203	1,041	1,293
Accounts Payable	379	617	843	815	970	778	1,022	1,366	1,479	1,091
Accrued Expenses	156	332	315	312	316	362	528	644	803	654
Customer Deposits	871	1,119	987	927	1,311	911	2,026	3,145	3,943	4,453
Other Current Liabilities	-	-	33	41	205	536	668	937	1,254	837
Total Noncurrent Liabilities	1,344	2,424	2,483	2,663	3,155	3,407	3,814	3,586	3,542	3,505
Long-Term Debt	1,192	2,205	2,028	2,134	2,687	2,874	2,695	2,522	2,828	3,082
Noncurrent Deferred & Payable Income Tax Liabilities	141	200	116	152	219	220	193	142	130	146
Other Noncurrent Operating Liabilities	11	19	339	377	250	313	926	921	585	278
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,096	1,506	1,630	1,796	1,937	1,918	1,839	1,650	1,821	1,489
Total Preferred & Common Equity	1,083	1,497	1,621	1,786	1,927	1,905	1,839	1,650	1,821	1,489
Total Common Equity	1,083	1,497	1,621	1,786	1,927	1,905	1,839	1,650	1,821	1,489
Common Stock	175	548	570	594	676	873	845	929	1,054	1,150
Retained Earnings	1,184	1,244	1,313	1,482	1,539	1,287	1,289	1,491	1,757	2,067
Treasury Stock	-172	-172	-172	-172	-172	-172	-172	-463	-761	-1,416
Accumulated Other Comprehensive Income / (Loss)	-103	-123	-89	-117	-115	-83	-123	-306	-229	-312

This table presents WEX's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	11,909	12,727	13,348	13,900	14,422	14,247	13,961	13,964
Total Current Assets	7,199	8,051	8,705	9,132	9,535	9,383	9,109	9,171
Cash & Equivalents	759	922	901	958	780	683	535	610
Restricted Cash	942	959	1,218	1,159	1,302	1,096	776	661
Short-Term Investments	1,379	2,479	2,641	2,625	3,305	3,323	3,723	3,829
Accounts Receivable	3,973	3,547	3,760	4,201	4,001	4,105	3,904	3,898
Prepaid Expenses	144	145	184	189	147	177	171	174
Plant, Property, & Equipment, net	187	210	222	229	250	257	261	259
Total Noncurrent Assets	4,524	4,466	4,421	4,540	4,638	4,607	4,591	4,535
Long-Term Investments	36	49	48	47	66	66	74	82
Goodwill	2,703	2,726	2,728	2,797	3,004	3,006	3,025	2,990
Intangible Assets	1,514	1,438	1,394	1,443	1,406	1,362	1,314	1,229
Noncurrent Deferred & Refundable Income Taxes	21	14	11	12	15	15	16	18
Other Noncurrent Operating Assets	250	240	240	241	147	158	162	216
Total Liabilities & Shareholders' Equity	11,909	12,727	13,348	13,900	14,422	14,247	13,961	13,964
Total Liabilities	10,278	11,057	11,579	12,204	12,644	12,463	12,284	13,154
Total Current Liabilities	6,414	7,503	8,334	8,856	8,986	9,070	8,718	8,761
Short-Term Debt	156	290	723	957	1,113	1,249	1,435	1,486
Accounts Payable	1,561	1,433	1,507	1,743	1,824	1,734	1,366	1,362
Accrued Expenses	567	713	734	745	671	703	680	607
Customer Deposits	3,146	4,108	4,154	4,253	4,076	4,289	4,462	4,647
Other Current Liabilities	984	958	1,217	1,158	1,301	1,095	776	660
Total Noncurrent Liabilities	3,864	3,554	3,245	3,348	3,659	3,394	3,566	4,393
Long-Term Debt	2,644	2,631	2,499	2,650	3,082	2,960	3,143	4,100
Noncurrent Deferred & Payable Income Tax Liabilities	156	138	132	141	133	133	138	147
Other Noncurrent Operating Liabilities	1,064	785	614	557	444	302	285	146
Total Equity & Noncontrolling Interests	1,631	1,671	1,769	1,696	1,778	1,784	1,678	810
Total Preferred & Common Equity	1,631	1,671	1,769	1,696	1,778	1,784	1,678	810
Total Common Equity	1,631	1,671	1,769	1,696	1,778	1,784	1,678	810
Common Stock	908	951	982	1,019	1,066	1,100	1,069	1,135
Retained Earnings	1,402	1,559	1,654	1,672	1,823	1,900	2,003	2,138
Treasury Stock	-322	-556	-559	-609	-834	-935	-1,248	-2,218
Accumulated Other Comprehensive Income / (Loss)	-357	-283	-308	-386	-277	-281	-146	-245

This table displays calculated financial ratios and metrics derived from WEX's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.52%	18.47%	23.32%	19.55%	15.48%	-9.50%	18.63%	27.02%	8.40%	3.14%
EBITDA Growth	-22.75%	-0.19%	55.73%	12.16%	8.16%	-75.91%	241.45%	10.06%	35.49%	2.22%
EBIT Growth	-31.56%	-29.75%	73.38%	22.08%	2.20%	-141.00%	241.67%	27.70%	68.48%	-4.81%
NOPAT Growth	-33.21%	-51.42%	193.88%	39.86%	2.18%	-123.19%	455.74%	32.25%	54.95%	8.72%
Net Income Growth	-45.20%	-81.45%	681.62%	6.80%	-8.53%	-280.62%	148.52%	23.07%	59.16%	16.13%
EPS Growth	-49.42%	-78.24%	550.88%	4.04%	-41.45%	-346.02%	100.00%	0.00%	36.89%	21.75%
Operating Cash Flow Growth	50.16%	-131.72%	195.92%	195.53%	65.70%	11.10%	-105.78%	1,694.84%	33.63%	-46.98%
Free Cash Flow Firm Growth	141.82%	-593.86%	112.52%	18.12%	-181.11%	248.83%	375.75%	57.56%	-39.42%	-74.89%
Invested Capital Growth	-7.28%	75.78%	0.38%	1.64%	12.61%	-8.01%	-26.96%	-60.30%	-65.44%	58.09%
Revenue Q/Q Growth	0.09%	7.68%	3.69%	3.60%	3.53%	-2.56%	5.62%	37.31%	-15.65%	-1.01%
EBITDA Q/Q Growth	-10.84%	-5.18%	20.08%	-2.34%	8.93%	-65.16%	56.59%	416.94%	-43.60%	-1.30%
EBIT Q/Q Growth	-15.72%	-23.06%	39.33%	-3.06%	11.39%	-200.60%	1,252.43%	159.29%	-57.55%	-6.24%
NOPAT Q/Q Growth	-3.95%	-50.10%	118.40%	-8.84%	3.94%	-216.87%	793.17%	260.66%	-60.72%	-0.30%
Net Income Q/Q Growth	-19.08%	-73.15%	248.78%	-25.28%	38.11%	-3,523.04%	198.19%	29.22%	-1.41%	-6.35%
EPS Q/Q Growth	-20.85%	-70.16%	246.73%	-26.05%	50.67%	-634.62%	100.00%	102.70%	-0.81%	-4.82%
Operating Cash Flow Q/Q Growth	-18.57%	-221.04%	229.15%	8.86%	58.74%	-40.21%	11.26%	813.72%	26.31%	-20.42%
Free Cash Flow Firm Q/Q Growth	5,136.82%	-5.83%	141.46%	-49.09%	37.94%	-67.19%	468.46%	-16.81%	-41.30%	338.15%
Invested Capital Q/Q Growth	13.50%	7.69%	-6.93%	-2.25%	-4.22%	6.66%	-29.39%	-18.53%	-28.07%	-49.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.26%	54.69%	58.81%	63.29%	61.72%	56.84%	62.06%	60.41%	61.80%	60.51%
EBITDA Margin	37.12%	31.28%	39.50%	37.06%	34.71%	9.24%	26.59%	23.04%	28.80%	28.54%
Operating Margin	26.77%	15.66%	17.02%	25.50%	22.38%	-5.88%	18.48%	19.99%	25.40%	26.11%
EBIT Margin	27.04%	16.03%	22.54%	23.02%	20.37%	-9.23%	11.02%	11.08%	17.23%	15.90%
Profit (Net Income) Margin	12.83%	2.01%	12.73%	11.37%	9.01%	-17.98%	7.35%	7.13%	10.46%	11.78%
Tax Burden Percent	59.28%	41.57%	91.14%	71.15%	71.72%	93.16%	66.75%	64.30%	72.29%	74.10%
Interest Burden Percent	80.01%	30.14%	61.96%	69.44%	61.65%	209.08%	99.95%	100.00%	84.03%	100.00%
Effective Tax Rate	40.72%	58.43%	8.86%	28.85%	28.28%	0.00%	33.25%	35.74%	27.71%	25.90%
Return on Invested Capital (ROIC)	6.56%	2.40%	5.53%	7.65%	7.30%	-1.66%	7.14%	16.01%	64.89%	106.43%
ROIC Less NNEP Spread (ROIC-NNEP)	3.89%	-0.76%	3.74%	2.12%	0.72%	-13.74%	-1.00%	-948.49%	84.73%	123.33%
Return on Net Nonoperating Assets (RNNOA)	3.45%	-0.84%	4.61%	2.26%	0.69%	-11.92%	-0.55%	-7.06%	-49.53%	-87.72%
Return on Equity (ROE)	10.01%	1.56%	10.14%	9.91%	7.99%	-13.59%	6.59%	8.95%	15.37%	18.71%
Cash Return on Invested Capital (CROIC)	14.12%	-52.56%	5.15%	6.03%	-4.56%	6.68%	38.30%	102.35%	162.15%	61.41%
Operating Return on Assets (OROA)	5.80%	3.30%	4.44%	5.11%	4.66%	-1.75%	2.21%	2.39%	3.45%	3.07%
Return on Assets (ROA)	2.75%	0.41%	2.51%	2.52%	2.06%	-3.40%	1.47%	1.53%	2.10%	2.28%
Return on Common Equity (ROCE)	9.80%	1.55%	10.08%	9.85%	7.62%	-12.61%	5.98%	8.34%	15.37%	18.71%
Return on Equity Simple (ROE_SIMPLE)	10.12%	1.36%	9.81%	9.51%	8.06%	-14.72%	7.40%	10.15%	14.64%	20.80%
Net Operating Profit after Tax (NOPAT)	136	66	194	271	277	-64	228	302	468	509
NOPAT Margin	15.87%	6.51%	15.51%	18.14%	16.06%	-4.11%	12.34%	12.84%	18.36%	19.35%
Net Nonoperating Expense Percent (NNEP)	2.68%	3.16%	1.79%	5.54%	6.57%	12.07%	8.14%	964.50%	-19.84%	-16.91%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.90%	8.22%	8.67%
Cost of Revenue to Revenue	46.74%	45.31%	41.19%	36.71%	38.28%	43.16%	37.94%	39.59%	38.20%	39.49%
SG&A Expenses to Revenue	10.36%	18.33%	14.76%	14.02%	16.00%	18.73%	17.67%	14.63%	16.80%	14.30%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.49%	39.03%	41.79%	37.79%	39.34%	62.72%	43.58%	40.43%	36.41%	34.40%
Earnings before Interest and Taxes (EBIT)	231	162	281	344	351	-144	204	261	439	418
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	317	317	493	553	598	144	492	542	734	750
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.15	3.19	3.74	3.38	4.71	4.72	3.42	4.32	4.57	4.69
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.00	4.71	4.85	4.04	5.26	5.76	3.40	3.04	3.26	2.65
Price to Earnings (P/E)	33.52	202.95	37.86	35.87	91.58	0.00	62,920.76	35.42	31.19	22.53
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.98%	0.49%	2.64%	2.79%	1.09%	0.00%	0.00%	2.82%	3.21%	4.44%
Enterprise Value to Invested Capital (EV/IC)	2.17	1.94	2.27	2.19	2.78	2.92	2.65	6.12	18.54	10.37
Enterprise Value to Revenue (EV/Rev)	5.06	6.68	6.37	5.24	6.47	6.91	3.87	2.79	2.69	2.31
Enterprise Value to EBITDA (EV/EBITDA)	13.62	21.37	16.12	14.13	18.65	74.74	14.53	12.10	9.35	8.09
Enterprise Value to EBIT (EV/EBIT)	18.70	41.69	28.24	22.75	31.77	0.00	35.06	25.17	15.64	14.53
Enterprise Value to NOPAT (EV/NOPAT)	31.86	102.72	41.05	28.87	40.32	0.00	31.33	21.71	14.67	11.94
Enterprise Value to Operating Cash Flow (EV/OCF)	9.71	0.00	58.69	19.53	16.82	14.62	0.00	9.65	7.56	12.61
Enterprise Value to Free Cash Flow (EV/FCFF)	14.81	0.00	44.03	36.67	0.00	41.85	5.84	3.40	5.87	20.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.09	1.46	1.49	1.31	1.40	1.49	1.36	1.65	2.12	2.94
Long-Term Debt to Equity	1.09	1.46	1.24	1.19	1.28	1.41	1.29	1.53	1.55	2.07
Financial Leverage	0.89	1.11	1.23	1.07	0.95	0.87	0.55	0.01	-0.58	-0.71
Leverage Ratio	3.64	3.78	4.05	3.93	3.87	3.99	4.48	5.83	7.32	8.22
Compound Leverage Factor	2.91	1.14	2.51	2.73	2.39	8.35	4.48	5.83	6.15	8.22
Debt to Total Capital	52.10%	59.42%	59.80%	56.69%	58.37%	59.80%	57.67%	62.29%	68.00%	74.61%
Short-Term Debt to Total Capital	0.00%	0.00%	9.80%	5.22%	4.94%	3.02%	3.15%	4.63%	18.30%	22.05%
Long-Term Debt to Total Capital	52.10%	59.42%	50.01%	51.46%	53.43%	56.78%	54.52%	57.66%	49.70%	52.56%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.54%	0.23%	0.23%	0.25%	3.31%	2.57%	5.14%	0.00%	0.00%	0.00%
Common Equity to Total Capital	47.36%	40.35%	39.97%	43.07%	38.32%	37.63%	37.19%	37.71%	32.00%	25.39%
Debt to EBITDA	3.76	6.96	4.92	4.25	4.91	21.00	5.79	5.03	5.27	5.83
Net Debt to EBITDA	2.82	6.29	3.81	3.20	3.21	11.52	1.23	-1.07	-1.98	-1.20
Long-Term Debt to EBITDA	3.76	6.96	4.11	3.86	4.49	19.94	5.48	4.66	3.85	4.11
Debt to NOPAT	8.79	33.46	12.52	8.68	10.61	-47.17	12.49	9.03	8.27	8.60
Net Debt to NOPAT	6.59	30.21	9.70	6.54	6.95	-25.87	2.65	-1.92	-3.10	-1.78
Long-Term Debt to NOPAT	8.79	33.46	10.47	7.88	9.71	-44.79	11.81	8.35	6.04	6.06
Altman Z-Score	1.75	1.25	1.43	1.62	1.60	1.34	0.98	0.95	0.91	0.89
Noncontrolling Interest Sharing Ratio	2.12%	0.81%	0.57%	0.57%	4.54%	7.19%	9.31%	6.79%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.35	1.15	1.24	1.47	1.26	1.28	1.20	1.08	1.05	1.02
Quick Ratio	1.35	1.14	1.21	1.40	1.18	1.07	1.04	0.91	0.89	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	292	-1,441	181	213	-173	257	1,224	1,929	1,169	293
Operating Cash Flow to CapEx	701.04%	-228.46%	170.83%	459.23%	644.73%	915.61%	-49.53%	601.77%	632.24%	326.82%
Free Cash Flow to Firm to Interest Expense	6.32	-12.71	1.69	2.03	-1.28	1.64	0.00	0.00	16.67	0.00
Operating Cash Flow to Interest Expense	9.64	-1.24	1.26	3.81	4.92	4.69	0.00	0.00	12.95	0.00
Operating Cash Flow Less CapEx to Interest Expense	8.26	-1.79	0.52	2.98	4.16	4.18	0.00	0.00	10.90	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.21	0.21	0.20	0.22	0.23	0.19	0.20	0.22	0.20	0.19
Accounts Receivable Turnover	0.49	0.54	0.52	0.56	0.63	0.64	0.73	0.73	0.73	0.79
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.00	6.62	7.54	8.49	8.61	7.78	10.06	12.32	11.45	10.43
Accounts Payable Turnover	0.99	0.92	0.70	0.66	0.74	0.77	0.78	0.78	0.68	0.81
Days Sales Outstanding (DSO)	739.25	675.65	695.50	648.04	578.87	568.59	503.27	499.66	499.71	463.60
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	367.66	396.15	518.20	552.21	493.63	473.89	467.91	468.30	533.44	451.94
Cash Conversion Cycle (CCC)	371.59	279.50	177.29	95.83	85.24	94.69	35.35	31.35	-33.73	11.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,989	3,496	3,509	3,567	4,017	3,695	2,699	1,071	370	585
Invested Capital Turnover	0.41	0.37	0.36	0.42	0.45	0.40	0.58	1.25	3.53	5.50
Increase / (Decrease) in Invested Capital	-156	1,507	13	58	450	-322	-996	-1,627	-701	215
Enterprise Value (EV)	4,322	6,768	7,949	7,818	11,157	10,772	7,152	6,556	6,864	6,071
Market Capitalization	3,416	4,769	6,060	6,037	9,067	8,982	6,292	7,134	8,315	6,975
Book Value per Share	$28.03	$35.03	$37.77	$41.43	$44.51	$43.17	$41.03	$37.84	$42.60	$37.42
Tangible Book Value per Share	($12.95)	($37.60)	($32.84)	($25.07)	($48.26)	($52.92)	($60.52)	($58.56)	($62.10)	($69.24)
Total Capital	2,287	3,711	4,055	4,146	5,028	5,062	4,944	4,374	5,689	5,864
Total Debt	1,192	2,205	2,425	2,350	2,935	3,027	2,851	2,725	3,869	4,375
Total Long-Term Debt	1,192	2,205	2,028	2,134	2,687	2,874	2,695	2,522	2,828	3,082
Net Debt	893	1,990	1,879	1,771	1,923	1,660	606	-578	-1,450	-904
Capital Expenditures (CapEx)	63	62	79	87	103	80	86	113	144	147
Debt-free, Cash-free Net Working Capital (DFCFNWC)	193	95	505	748	60	-415	-1,150	-2,530	-3,795	-3,717
Debt-free Net Working Capital (DFNWC)	492	310	1,027	1,303	1,041	915	1,056	726	1,457	1,481
Net Working Capital (NWC)	492	310	630	1,087	792	762	900	523	416	188
Net Nonoperating Expense (NNE)	26	46	35	101	121	216	92	134	201	199
Net Nonoperating Obligations (NNO)	893	1,990	1,879	1,771	1,923	1,660	606	-578	-1,450	-903
Total Depreciation and Amortization (D&A)	86	154	212	209	247	288	288	281	295	332
Debt-free, Cash-free Net Working Capital to Revenue	22.59%	9.42%	40.45%	50.12%	3.46%	-26.60%	-62.14%	-107.62%	-148.94%	-141.43%
Debt-free Net Working Capital to Revenue	57.53%	30.60%	82.29%	87.30%	60.39%	58.64%	57.04%	30.87%	57.19%	56.37%
Net Working Capital to Revenue	57.53%	30.60%	50.47%	72.79%	45.97%	48.85%	48.63%	22.25%	16.33%	7.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.63	$1.49	$3.73	$3.90	$2.29	($5.56)	$0.00	$4.54	$6.23	$7.59
Adjusted Weighted Average Basic Shares Outstanding	38.77M	40.81M	42.98M	43.16M	43.32M	43.84M	44.72M	44.40M	42.80M	40.80M
Adjusted Diluted Earnings per Share	$2.62	$1.48	$3.72	$3.86	$2.26	($5.56)	$0.00	$4.50	$6.16	$7.50
Adjusted Weighted Average Diluted Shares Outstanding	38.84M	40.91M	43.11M	43.57M	43.77M	43.84M	45.31M	44.72M	43.30M	41.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$2.29	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	38.64M	42.74M	43.03M	43.14M	43.34M	44.19M	44.83M	43.13M	41.73M	38.82M
Normalized Net Operating Profit after Tax (NOPAT)	140	111	234	275	277	87	228	390	468	509
Normalized NOPAT Margin	16.41%	10.96%	18.73%	18.41%	16.06%	5.57%	12.34%	16.58%	18.36%	19.35%
Pre Tax Income Margin	21.64%	4.83%	13.97%	15.99%	12.56%	-19.30%	11.02%	11.08%	14.47%	15.90%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.00	1.43	2.63	3.27	2.61	-0.92	0.00	0.00	6.26	0.00
NOPAT to Interest Expense	2.94	0.58	1.81	2.58	2.05	-0.41	0.00	0.00	6.67	0.00
EBIT Less CapEx to Interest Expense	3.63	0.89	1.89	2.44	1.84	-1.43	0.00	0.00	4.21	0.00
NOPAT Less CapEx to Interest Expense	1.56	0.04	1.07	1.75	1.29	-0.92	0.00	0.00	4.62	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	22.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	168.84%	113.80%	210.59%

This table displays calculated financial ratios and metrics derived from WEX's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	27.62%	128.38%	0.00%	3.86%	5.73%	-41.62%	6.65%	8.40%	2.16%	-4.06%	-2.47%
EBITDA Growth	-67.31%	910.76%	136.84%	26.66%	218.18%	-76.17%	2.06%	0.49%	22.31%	-11.40%	8.02%
EBIT Growth	-108.58%	19,730.84%	119.09%	46.52%	1,386.52%	-84.59%	-8.35%	-9.93%	23.23%	-25.65%	11.56%
NOPAT Growth	-79.70%	1,393.40%	126.82%	7.42%	386.12%	-84.65%	12.56%	-5.40%	97.61%	0.46%	-6.86%
Net Income Growth	-185.02%	74.53%	-23.42%	179.47%	141.72%	-4.28%	-3.24%	-19.20%	459.24%	-24.74%	8.66%
EPS Growth	-193.46%	912.00%	-42.44%	189.47%	142.00%	-2.46%	-0.64%	-16.82%	500.00%	-19.19%	16.77%
Operating Cash Flow Growth	283.42%	1,876.40%	116.06%	147.41%	-89.14%	33.01%	-665.68%	-109.67%	-92.90%	-16.21%	-214.16%
Free Cash Flow Firm Growth	986.61%	131.93%	181.88%	-4.48%	-65.39%	-66.13%	-108.54%	-126.48%	-156.15%	-110.95%	-171.30%
Invested Capital Growth	-65.59%	-60.30%	-92.88%	-90.95%	-60.86%	-65.44%	181.57%	351.72%	123.02%	58.09%	133.71%
Revenue Q/Q Growth	2.99%	84.42%	-46.14%	1.52%	4.84%	1.83%	-1.60%	3.19%	-1.19%	-4.37%	0.03%
EBITDA Q/Q Growth	-60.80%	1,244.76%	-78.55%	12.00%	-1.52%	0.71%	18.84%	10.27%	19.87%	-27.04%	12.01%
EBIT Q/Q Growth	-111.07%	8,003.37%	-86.04%	19.96%	-2.80%	-5.33%	34.73%	17.89%	32.99%	-42.88%	24.57%
NOPAT Q/Q Growth	-87.58%	5,323.75%	-86.79%	20.69%	-43.79%	71.27%	-3.12%	1.44%	17.41%	-12.93%	-10.17%
Net Income Q/Q Growth	-229.33%	301.13%	-23.34%	40.15%	-80.69%	361.41%	-22.50%	17.02%	33.64%	-37.90%	11.89%
EPS Q/Q Growth	-231.58%	303.00%	-23.15%	41.03%	-80.91%	371.43%	-21.72%	18.06%	37.70%	-36.51%	13.13%
Operating Cash Flow Q/Q Growth	380.29%	33.83%	-95.27%	167.16%	-35.77%	1,538.49%	-120.12%	95.43%	147.14%	19,245.45%	-175.44%
Free Cash Flow Firm Q/Q Growth	22.52%	-3.40%	3.23%	-21.82%	-55.61%	-5.45%	-126.02%	-142.44%	5.87%	81.56%	-544.50%
Invested Capital Q/Q Growth	-34.89%	-18.53%	-82.78%	-0.98%	181.77%	-28.07%	40.29%	58.86%	39.11%	-49.01%	107.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.08%	93.14%	59.59%	62.18%	63.91%	61.42%	59.06%	60.83%	62.55%	59.52%	57.59%
EBITDA Margin	9.28%	67.70%	26.96%	29.74%	27.94%	27.63%	25.80%	27.57%	33.45%	25.52%	28.57%
Operating Margin	3.46%	74.51%	25.21%	25.66%	26.85%	23.90%	25.20%	24.96%	29.51%	24.72%	24.71%
EBIT Margin	-1.44%	61.91%	16.05%	18.96%	17.58%	16.34%	13.79%	15.75%	21.20%	12.67%	15.77%
Profit (Net Income) Margin	-7.16%	7.81%	11.11%	15.34%	2.82%	12.80%	10.08%	11.43%	15.46%	10.04%	11.23%
Tax Burden Percent	101.85%	11.10%	69.25%	80.90%	41.44%	78.32%	73.11%	72.57%	72.93%	79.28%	71.22%
Interest Burden Percent	486.52%	113.63%	100.00%	100.00%	38.78%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	4.48%	30.75%	19.10%	58.56%	21.68%	26.89%	27.43%	27.07%	20.72%	28.78%
Return on Invested Capital (ROIC)	1.61%	88.74%	37.25%	56.27%	36.74%	66.15%	135.51%	94.91%	68.72%	107.77%	53.03%
ROIC Less NNEP Spread (ROIC-NNEP)	-6.41%	-5,078.15%	46.73%	61.14%	43.96%	70.02%	139.48%	98.45%	73.44%	112.94%	62.51%
Return on Net Nonoperating Assets (RNNOA)	-2.57%	-37.82%	-10.65%	-23.58%	-19.78%	-40.93%	-111.00%	-70.51%	-37.24%	-80.33%	-20.64%
Return on Equity (ROE)	-0.96%	50.93%	26.60%	32.69%	16.95%	25.22%	24.51%	24.40%	31.48%	27.45%	32.39%
Cash Return on Invested Capital (CROIC)	90.29%	102.35%	251.63%	264.26%	217.63%	162.15%	41.75%	-34.29%	-14.82%	61.41%	-22.44%
Operating Return on Assets (OROA)	-0.23%	13.33%	3.95%	4.41%	4.11%	3.28%	2.63%	3.02%	4.04%	2.45%	2.90%
Return on Assets (ROA)	-1.14%	1.68%	2.74%	3.57%	0.66%	2.57%	1.92%	2.19%	2.95%	1.94%	2.07%
Return on Common Equity (ROCE)	-0.91%	47.47%	26.60%	32.69%	16.95%	25.22%	24.51%	24.40%	31.48%	27.45%	32.39%
Return on Equity Simple (ROE_SIMPLE)	7.95%	0.00%	8.78%	11.75%	15.94%	0.00%	14.87%	13.80%	19.71%	0.00%	38.91%
Net Operating Profit after Tax (NOPAT)	15	809	107	129	72	124	120	122	143	125	112
NOPAT Margin	2.42%	71.17%	17.46%	20.76%	11.13%	18.72%	18.43%	18.11%	21.52%	19.60%	17.60%
Net Nonoperating Expense Percent (NNEP)	8.03%	5,166.90%	-9.47%	-4.87%	-7.22%	-3.87%	-3.97%	-3.54%	-4.71%	-5.17%	-9.48%
Return On Investment Capital (ROIC_SIMPLE)	-	18.49%	-	-	-	2.18%	-	-	-	2.13%	1.75%
Cost of Revenue to Revenue	40.92%	6.87%	40.41%	37.82%	36.09%	38.58%	40.94%	39.17%	37.45%	40.48%	42.41%
SG&A Expenses to Revenue	14.04%	8.38%	14.53%	17.09%	17.90%	17.53%	13.56%	15.00%	13.84%	14.80%	11.58%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	55.64%	18.61%	34.38%	36.52%	37.06%	37.52%	33.86%	35.87%	33.04%	34.82%	32.88%
Earnings before Interest and Taxes (EBIT)	-8.90	703	98	118	115	108	90	106	141	81	100
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	57	769	165	185	182	183	168	186	223	162	182
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.44	4.32	4.75	4.41	4.76	4.57	5.71	4.16	5.14	4.69	7.52
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.28	3.04	2.68	2.61	2.67	3.26	3.92	2.81	3.25	2.65	2.33
Price to Earnings (P/E)	0.00	35.42	9.65	8.84	8.55	31.19	38.39	30.16	26.06	22.53	19.33
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	2.82%	10.36%	11.32%	11.70%	3.21%	2.60%	3.32%	3.84%	4.44%	5.17%
Enterprise Value to Invested Capital (EV/IC)	4.02	6.12	34.94	34.01	13.40	18.54	17.12	7.83	7.04	10.37	5.35
Enterprise Value to Revenue (EV/Rev)	3.09	2.79	2.18	2.08	2.28	2.69	3.44	2.45	3.05	2.31	2.49
Enterprise Value to EBITDA (EV/EBITDA)	0.00	12.10	5.67	5.28	5.30	9.35	12.38	8.99	10.64	8.09	8.63
Enterprise Value to EBIT (EV/EBIT)	0.00	25.17	7.38	6.82	6.67	15.64	20.65	15.43	18.15	14.53	15.18
Enterprise Value to NOPAT (EV/NOPAT)	0.00	21.71	5.94	5.79	5.79	14.67	18.45	13.76	15.86	11.94	13.00
Enterprise Value to Operating Cash Flow (EV/OCF)	71.17	9.65	7.36	5.65	9.60	7.56	12.22	9.97	13.37	12.61	42.45
Enterprise Value to Free Cash Flow (EV/FCFF)	2.28	3.40	1.84	2.14	3.46	5.87	60.52	0.00	0.00	20.69	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.72	1.65	1.75	1.82	2.13	2.12	2.36	2.36	2.73	2.94	6.89
Long-Term Debt to Equity	1.62	1.53	1.58	1.41	1.56	1.55	1.73	1.66	1.87	2.07	5.06
Financial Leverage	0.40	0.01	-0.23	-0.39	-0.45	-0.58	-0.80	-0.72	-0.51	-0.71	-0.33
Leverage Ratio	5.84	5.83	6.69	7.16	7.76	7.32	7.87	7.77	8.26	8.22	10.97
Compound Leverage Factor	28.42	6.63	6.69	7.16	3.01	7.32	7.87	7.77	8.26	8.22	10.97
Debt to Total Capital	63.20%	62.29%	63.62%	64.56%	68.02%	68.00%	70.23%	70.23%	73.19%	74.61%	87.33%
Short-Term Debt to Total Capital	3.53%	4.63%	6.32%	14.49%	18.05%	18.30%	18.64%	20.84%	22.94%	22.05%	23.23%
Long-Term Debt to Total Capital	59.67%	57.66%	57.30%	50.07%	49.97%	49.70%	51.60%	49.40%	50.24%	52.56%	64.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	36.80%	37.71%	36.38%	35.44%	31.98%	32.00%	29.77%	29.77%	26.81%	25.39%	12.67%
Debt to EBITDA	-16.39	5.03	2.57	2.74	2.77	5.27	5.84	5.85	6.02	5.83	7.42
Net Debt to EBITDA	1.85	-1.07	-1.31	-1.35	-0.91	-1.98	-1.75	-1.33	-0.70	-1.20	0.54
Long-Term Debt to EBITDA	-15.48	4.66	2.31	2.12	2.04	3.85	4.29	4.11	4.14	4.11	5.45
Debt to NOPAT	-14.91	9.03	2.69	3.00	3.03	8.27	8.70	8.96	8.98	8.60	11.17
Net Debt to NOPAT	1.68	-1.92	-1.37	-1.48	-0.99	-3.10	-2.61	-2.04	-1.04	-1.78	0.81
Long-Term Debt to NOPAT	-14.07	8.35	2.42	2.33	2.23	6.04	6.39	6.30	6.16	6.06	8.20
Altman Z-Score	0.71	1.07	0.91	0.86	0.83	0.84	0.90	0.78	0.88	0.81	0.74
Noncontrolling Interest Sharing Ratio	5.22%	6.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	1.08	1.07	1.04	1.03	1.05	1.06	1.03	1.04	1.02	1.05
Quick Ratio	0.95	0.91	0.93	0.88	0.88	0.89	0.90	0.89	0.94	0.90	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,522	2,436	2,515	1,966	873	825	-215	-521	-490	-90	-583
Operating Cash Flow to CapEx	1,431.44%	1,531.55%	88.56%	208.65%	127.75%	1,818.38%	-450.88%	-17.68%	9.43%	1,649.61%	-1,477.30%
Free Cash Flow to Firm to Interest Expense	73.31	0.00	0.00	0.00	12.45	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	12.44	0.00	0.00	0.00	0.66	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	11.57	0.00	0.00	0.00	0.14	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.22	0.25	0.23	0.23	0.20	0.19	0.19	0.19	0.19	0.18
Accounts Receivable Turnover	0.48	0.73	0.78	0.71	0.74	0.73	0.69	0.67	0.66	0.79	0.66
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.36	12.32	15.29	14.81	14.53	11.45	11.27	11.02	10.83	10.43	10.28
Accounts Payable Turnover	0.73	0.78	0.51	0.47	0.48	0.68	0.61	0.63	0.67	0.81	0.65
Days Sales Outstanding (DSO)	762.67	499.66	466.38	512.04	493.82	499.71	532.12	543.55	557.08	463.60	551.86
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	497.72	468.30	716.31	778.44	758.02	533.44	598.45	578.71	547.48	451.94	558.67
Cash Conversion Cycle (CCC)	264.95	31.35	-249.92	-266.40	-264.20	-33.73	-66.34	-35.17	9.60	11.66	-6.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,315	1,071	185	183	515	370	520	825	1,148	585	1,214
Invested Capital Turnover	0.67	1.25	2.13	2.71	3.30	3.53	7.35	5.24	3.19	5.50	3.01
Increase / (Decrease) in Invested Capital	-2,507	-1,627	-2,408	-1,837	-800	-701	335	643	633	215	695
Enterprise Value (EV)	5,292	6,556	6,446	6,214	6,898	6,864	8,893	6,464	8,087	6,071	6,499
Market Capitalization	5,607	7,134	7,932	7,800	8,079	8,315	10,151	7,422	8,617	6,975	6,095
Book Value per Share	$36.92	$37.84	$38.73	$41.29	$39.49	$42.60	$42.53	$42.57	$40.83	$37.42	$20.88
Tangible Book Value per Share	($58.53)	($58.56)	($57.81)	($54.93)	($59.23)	($62.10)	($62.98)	($61.69)	($64.77)	($69.24)	($87.80)
Total Capital	4,432	4,374	4,592	4,991	5,304	5,689	5,972	5,992	6,256	5,864	6,395
Total Debt	2,801	2,725	2,922	3,222	3,607	3,869	4,195	4,208	4,579	4,375	5,585
Total Long-Term Debt	2,644	2,522	2,631	2,499	2,650	2,828	3,082	2,960	3,143	3,082	4,100
Net Debt	-316	-578	-1,486	-1,586	-1,182	-1,450	-1,258	-958	-529	-904	404
Capital Expenditures (CapEx)	30	37	31	35	36	42	34	40	35	39	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,140	-2,530	-3,520	-3,667	-3,509	-3,795	-3,725	-3,539	-3,208	-3,717	-3,204
Debt-free Net Working Capital (DFNWC)	941	726	839	1,093	1,233	1,457	1,662	1,562	1,827	1,481	1,896
Net Working Capital (NWC)	784	523	549	370	276	416	549	314	391	188	410
Net Nonoperating Expense (NNE)	59	720	39	34	54	39	54	45	40	61	41
Net Nonoperating Obligations (NNO)	-316	-578	-1,486	-1,586	-1,182	-1,450	-1,258	-958	-529	-903	404
Total Depreciation and Amortization (D&A)	66	66	67	67	68	75	78	80	82	82	82
Debt-free, Cash-free Net Working Capital to Revenue	-125.01%	-107.62%	-118.82%	-122.82%	-116.17%	-148.94%	-143.88%	-134.00%	-120.82%	-141.43%	-122.67%
Debt-free Net Working Capital to Revenue	54.97%	30.87%	28.32%	36.62%	40.81%	57.19%	64.20%	59.15%	68.80%	56.37%	72.57%
Net Working Capital to Revenue	45.83%	22.25%	18.52%	12.40%	9.12%	16.33%	21.21%	11.87%	14.74%	7.16%	15.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.00)	$2.05	$1.58	$2.22	$0.43	$2.00	$1.57	$1.85	$2.56	$1.61	$1.84
Adjusted Weighted Average Basic Shares Outstanding	44.23M	44.40M	43.10M	42.90M	42.90M	42.80M	41.80M	41.70M	40.30M	40.80M	38.90M
Adjusted Diluted Earnings per Share	($1.00)	$2.03	$1.56	$2.20	$0.42	$1.98	$1.55	$1.83	$2.52	$1.60	$1.81
Adjusted Weighted Average Diluted Shares Outstanding	44.23M	44.70M	43.60M	43.40M	43.40M	43.30M	42.40M	42M	40.80M	41.30M	39.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	43.59M	43.13M	42.84M	42.95M	42.74M	41.73M	41.90M	41.08M	39.78M	38.82M	34.24M
Normalized Net Operating Profit after Tax (NOPAT)	110	809	107	129	122	124	120	122	143	125	112
Normalized NOPAT Margin	17.93%	71.17%	17.46%	20.76%	18.79%	18.72%	18.43%	18.11%	21.52%	19.60%	17.60%
Pre Tax Income Margin	-7.03%	70.35%	16.05%	18.96%	6.82%	16.34%	13.79%	15.75%	21.20%	12.67%	15.77%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.26	0.00	0.00	0.00	1.63	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.43	0.00	0.00	0.00	1.03	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-1.13	0.00	0.00	0.00	1.11	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-0.44	0.00	0.00	0.00	0.51	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	115.41%	168.84%	261.55%	147.28%	105.70%	113.80%	104.43%	151.56%	210.04%	210.59%	434.00%

Frequently Asked Questions About WEX's Financials

When does WEX's fiscal year end?

According to the most recent income statement we have on file, WEX's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has WEX's net income changed over the last 9 years?

WEX's net income appears to be on an upward trend, with a most recent value of $309.60 million in 2024, rising from $109.61 million in 2015. The previous period was $266.60 million in 2023. View WEX's forecast to see where analysts expect WEX to go next.

What is WEX's operating income?

WEX's total operating income in 2024 was $686.30 million, based on the following breakdown:

Total Gross Profit: $1.59 billion
Total Operating Expenses: $904.10 million

How has WEX revenue changed over the last 9 years?

Over the last 9 years, WEX's total revenue changed from $854.64 million in 2015 to $2.63 billion in 2024, a change of 207.5%.

How much debt does WEX have?

WEX's total liabilities were at $11.83 billion at the end of 2024, a 1.9% decrease from 2023, and a 329.9% increase since 2015.

How much cash does WEX have?

In the past 9 years, WEX's cash and equivalents has ranged from $190.93 million in 2016 to $975.80 million in 2023, and is currently $595.80 million as of their latest financial filing in 2024.

How has WEX's book value per share changed over the last 9 years?

Over the last 9 years, WEX's book value per share changed from 28.03 in 2015 to 37.42 in 2024, a change of 33.5%.

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This page (NYSE:WEX) was last updated on 5/4/2025 by MarketBeat.com Staff

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WEX (WEX) Financials

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WEX (WEX) Financials

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