WEX
$185.12+1.01%
WEX Inc.Stock · TechnologyRussell 1000 · 0.007% of IWBRussell 3000 · 0.007% of IWVUS Stock Market · 0.006% of VTI
WEX financial statements
The full income statement, balance sheet, and cash-flow statement for WEX Inc. (WEX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 41.1M2024-09 39.8M2024-12 38.8M2025-03 34.2M2025-06 34.3M2025-09 34.3M2025-12 34.3M2026-03 34.7M2026-06 34.1M-17.0% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 2.66B+1.2% | 2.63B+3.1% | 2.55B+8.4% | 2.35B+27.0% | 1.85B+18.6% | |
| Cost of revenue | 1.10B+6.1% | 1.04B+6.6% | 973M+4.6% | 931M+32.5% | 702M+4.3% | |
| Selling, general & administrative | 330M-12.1% | 376M-12.2% | 428M+24.5% | 344M+5.2% | 327M+11.9% | |
| General & administrative | 330M-12.1% | 376M-12.2% | 428M+24.5% | 344M+5.2% | 327M+11.9% | |
| Selling & marketing | 387M+13.5% | 341M+4.0% | 328M+5.1% | 312M-2.3% | 319M+19.7% | |
| Restructuring | — | 12.3M | — | 9.20M+70.4% | 5.40M | |
| Amortization of intangibles | 192M-4.9% | 202M+9.7% | 184M+7.9% | 171M-6.2% | 182M+6.2% | |
| Provision for credit losses | 78.4M+15.0% | 68.2M-24.1% | 89.8M | — | 45.1M-42.5% | |
| Operating income | 664M-3.3% | 686M+6.1% | 647M+37.7% | 470M+37.4% | 342M+473.1% | |
| Interest expense | — | — | — | 131M+1.8% | 128M-18.2% | |
| Net interest income | — | — | — | — | 4.49M-23.3% | |
| Pre-tax income | 420M+0.6% | 418M+13.3% | 369M+41.6% | 261M+27.8% | 204M+167.7% | |
| Income tax | 116M+7.3% | 108M+5.9% | 102M+9.8% | 93.1M+37.3% | 67.8M+429.2% | |
| 304M-1.8% | 310M+16.1% | 267M+59.4% | 167M+23.6% | 135M+147.6% | ||
| Net income to non-controlling interest | — | 0.00 | 0.00-100.0% | 300K-62.5% | 800K-76.9% | |
| Net income to common | 304M-1.8% | 310M+16.1% | 267M+32.4% | 201M+201300.0% | 100K+100.0% | |
| $8.47+12.9% | $7.50+21.8% | $6.16+36.9% | $4.50 | $0.00+100.0% | ||
| EPS (basic) | $8.57+12.9% | $7.59+21.8% | $6.23+37.2% | $4.54 | $0.00+100.0% | |
| Weighted-avg shares (basic) | 35.5M-13.0% | 40.8M-4.7% | 42.8M-3.6% | 44.4M-0.7% | 44.7M+2.0% | |
| Weighted-avg shares (diluted) | 35.9M-13.1% | 41.3M-4.6% | 43.3M-3.1% | 44.7M-1.3% | 45.3M+3.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 9.71B+14.1% | 8.52B-4.7% | 8.94B+31.1% | 6.82B+28.6% | 5.30B+51.3% | ||
| Cash & equivalents | 906M+52.0% | 596M-38.9% | 976M+5.8% | 922M+56.6% | 589M-30.9% | |
| Short-term investments | 4.33B+15.1% | 3.76B+24.6% | 3.02B+116.6% | 1.40B+47.1% | 949M | |
| Prepaid expenses | 215M+8.2% | 199M+58.8% | 125M-12.6% | 143M+84.7% | 77.6M-10.5% | |
| 14.4B+8.1% | 13.3B-4.0% | 13.9B+20.4% | 11.5B+11.9% | 10.3B+25.9% | ||
| Property, plant & equipment | 254M-2.9% | 261M+7.5% | 243M+20.1% | 202M+12.6% | 180M-4.7% | |
| Operating lease right-of-use | 51.2M-6.2% | 54.6M-11.7% | 61.8M-7.6% | 66.9M-15.8% | 79.5M-6.5% | |
| Goodwill | 3.02B+1.1% | 2.98B-1.1% | 3.02B+10.5% | 2.73B-6.2% | 2.91B+8.2% | |
| Intangible assets | 1.09B-13.6% | 1.26B-13.6% | 1.46B-1.0% | 1.47B-10.3% | 1.64B+5.9% | |
| Long-term investments | 94.2M+17.0% | 80.5M+20.5% | 66.8M+39.2% | 48.0M+21.1% | 39.6M+6.4% | |
| Deferred tax assets | 16.9M-7.7% | 18.3M+33.6% | 13.7M+2.2% | 13.4M+137.8% | 5.63M-67.8% | |
| Other non-current assets | 218M+7.6% | 203M+36.1% | 149M-39.4% | 246M+6.4% | 231M+17.2% | |
| 9.29B+11.5% | 8.33B-2.3% | 8.52B+35.4% | 6.29B+43.1% | 4.40B+60.5% | ||
| Deferred revenue | — | — | 12.4M-99.6% | 3.14B+55.2% | 2.03B+122.3% | |
| Short-term & current debt | 54.7M+5.0% | 52.1M-5.4% | 55.1M+3.8% | 53.1M-65.9% | 156M+2.0% | |
| Current lease liability | 9.50M-5.9% | 10.1M-15.8% | 12.0M+1.7% | 11.8M-23.9% | 15.5M-5.7% | |
| Other current liabilities | — | — | — | — | 50.6M-13.4% | |
| 13.2B+11.3% | 11.8B-1.9% | 12.1B+22.1% | 9.88B+20.3% | 8.21B+33.6% | ||
| Long-term debt | 3.53B+14.6% | 3.08B+9.0% | 2.83B+12.1% | 2.52B-6.4% | 2.70B-6.2% | |
| Deferred revenue (non-current) | — | — | 83.0M-75.2% | 334M-48.8% | 652M+338.9% | |
| Non-current lease liability | 54.0M-10.6% | 60.4M-8.5% | 66.0M-6.5% | 70.6M-12.9% | 81.0M-2.3% | |
| Operating lease liability (total) | 63.5M-9.9% | 70.5M-9.6% | 78.0M-5.3% | 82.4M-14.7% | 96.5M-2.9% | |
| Deferred tax liabilities | 187M+28.6% | 146M+12.4% | 130M-8.9% | 142M-26.3% | 193M-12.3% | |
| Other non-current liabilities | 159M-42.7% | 278M-39.0% | 456M-22.4% | 587M+114.5% | 274M+66.3% | |
| 1.23B-17.1% | 1.49B-18.2% | 1.82B+10.4% | 1.65B-10.3% | 1.84B-3.5% | ||
| Common stock | 500K+0.0% | 500K+0.0% | 500K+0.0% | 500K+1.6% | 492K+1.4% | |
| Additional paid-in capital | 1.21B+5.1% | 1.15B+9.2% | 1.05B+13.5% | 928M+9.9% | 844M-3.3% | |
| Retained earnings | 2.37B+14.7% | 2.07B+17.6% | 1.76B+17.9% | 1.49B+15.6% | 1.29B+0.2% | |
| Treasury stock | 2.22B+56.6% | 1.42B+86.1% | 761M+64.2% | 463M+168.8% | 172M+0.0% | |
| Accumulated other comprehensive income | -128M+59.0% | -312M-36.3% | -229M+25.2% | -306M-150.0% | -123M-47.7% | |
| Non-controlling interest | — | — | — | — | 0.00-100.0% | |
| Total equity incl. non-controlling | — | — | 1.82B+10.4% | 1.65B-10.3% | 1.84B-2.1% | |
| Total liabilities & equity | 14.4B+8.1% | 13.3B-4.0% | 13.9B+20.4% | 11.5B+11.9% | 10.3B+25.9% | |
| Common shares issued | 50.7M+0.8% | 50.3M+0.8% | 49.9M+0.6% | 49.6M+0.7% | 49.3M+1.3% | |
| Common shares outstanding | 34.3M-12.1% | 39.0M-6.9% | 41.9M-3.0% | 43.2M-3.6% | 44.8M+1.4% | |
| Shares outstanding (cover) | 34.3M-11.6% | 38.8M-7.0% | 41.7M-3.2% | 43.1M-3.8% | 44.8M+1.4% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 454M-5.6% | 481M-47.0% | 908M+33.6% | 679M+1694.8% | -42.6M-105.8% | ||
| Depreciation & amortization | 331M+3.1% | 321M+16.3% | 276M+4.7% | 264M-3.2% | 273M+4.1% | |
| Intangible amortization | 192M-4.9% | 202M+9.7% | 184M+7.9% | 171M-6.2% | 182M+6.2% | |
| Share-based compensation | 100M-10.6% | 112M-11.7% | 127M+29.7% | 97.9M+30.9% | 74.8M+17.1% | |
| Deferred income taxes | 43.6M+292.8% | 11.1M+152.1% | -21.3M+64.6% | -60.2M-566.7% | 12.9M+144.0% | |
| Change in payables | -20.1M+94.9% | -396M-443.4% | 115M-66.9% | 349M+37.8% | 253M+237.7% | |
| -697M+27.5% | -961M+55.1% | -2.14B-198.4% | -717M+55.2% | -1.60B-386.5% | ||
| Capital expenditure | 141M-4.5% | 147M+2.6% | 144M+27.2% | 113M+31.3% | 86.0M+6.9% | |
| Free cash flow | 314M-6.1% | 334M-56.3% | 764M+34.9% | 567M+540.5% | -129M-119.6% | |
| Acquisitions | 0.00-100.0% | 900K-99.8% | 402M | 0.00-100.0% | 559M+153.2% | |
| Other investing activities | -4.70M | 0.00+100.0% | -4.10M | — | — | |
| 419M+260.9% | -260M-116.5% | 1.57B+130.9% | 681M-57.3% | 1.60B+2803.5% | ||
| Long-term debt issued | 550M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Common stock repurchased | 800M+22.7% | 652M+114.9% | 303M+7.3% | 283M | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | -40.4M-67.6% | -24.1M-487.8% | -4.10M | — | — | |
| FX effect on cash | 65.1M+221.7% | -53.5M-295.3% | 27.4M+166.7% | -41.1M-61.8% | -25.4M-6171.6% | |
| Net change in cash | 241M+130.4% | -793M-314.2% | 370M-38.6% | 603M+928.2% | -72.8M-120.9% | |
| Interest paid | 334M+1.6% | 329M+32.5% | 248M+91.6% | 129M-2.1% | 132M-19.0% | |
| Income taxes paid | 44.5M-66.3% | 132M+1.2% | 130M-8.8% | 143M+182.2% | 50.6M+699.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 5.11B-24.9% | 6.81B-18.2% | 8.31B+16.5% | 7.13B+13.4% | 6.29B-30.0% | |
| P/E | 16.8×-23.5% | 22.0×-28.5% | 30.7×-44.1% | 55.0×+18.3% | 46.5× | |
| P/S | 1.9×-25.8% | 2.6×-22.0% | 3.3×+3.8% | 3.2×-5.9% | 3.4×-41.0% | |
| P/B | 4.1×-9.4% | 4.6×-6.7% | 4.9×+12.1% | 4.4×+27.8% | 3.4×-27.5% | |
| P/FCF | 16.3×-20.0% | 20.4×+42.0% | 14.3× | — | — | |
| Earnings yield | 5.9%+30.8% | 4.5%+39.9% | 3.3%+79.0% | 1.8%-15.5% | 2.1% | |
| FCF yield | 6.1%+25.0% | 4.9%-29.6% | 7.0% | — | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: WEX’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all WEX filings on SEC EDGAR → Not investment advice.