Tearsheet

WEX (WEX)


Market Price (11/6/2025): $144.79 | Market Cap: $5.0 Bil
Sector: Financials | Industry: Transaction & Payment Processing Services

WEX (WEX)


Market Price (11/6/2025): $144.79
Market Cap: $5.0 Bil
Sector: Financials
Industry: Transaction & Payment Processing Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 13%
Weak multi-year price returns
2Y Excs Rtn is -73%, 3Y Excs Rtn is -85%
Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
  
2 Low stock price volatility
Vol 12M is 44%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 13%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
2 Low stock price volatility
Vol 12M is 44%
3 Weak multi-year price returns
2Y Excs Rtn is -73%, 3Y Excs Rtn is -85%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%

Market Valuation & Key Metrics

WEX Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
WEX Return-3%-31%17%19%-10%-15%-29%
Peers Return1%0%-9%-0%11%-9%-8%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
WEX Win Rate58%25%58%58%58%50% 
Peers Win Rate60%52%43%58%55%36% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
WEX Max Drawdown-60%-39%-10%-2%-14%-35% 
Peers Max Drawdown-35%-17%-23%-20%-6%-16% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: JKHY, G, EEFT, WU, V. See WEX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/5/2025 (YTD)

How Low Can It Go

Unique KeyEventWEXS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-46.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven86.0%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven831 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-64.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven182.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven1458 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-34.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven52.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven109 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-79.0%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven375.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven713 days1480 days

Compare to JKHY, G, EEFT, WU, V


In The Past

WEX's stock fell -46.2% during the 2022 Inflation Shock from a high on 2/24/2021. A -46.2% loss requires a 86.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About WEX (WEX)

Better Bets than WEX (WEX)

Trade Ideas

Select past ideas related to WEX. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BRO_10312025_Dip_Buyer_FCFYield10312025BROBrown & BrownDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-2.4%-2.4%-2.4%
CPAY_10312025_Dip_Buyer_FCFYield10312025CPAYCorpayDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.5%0.5%0.0%
EEFT_10312025_Dip_Buyer_FCFYield10312025EEFTEuronet WorldwideDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-3.5%-3.5%-3.5%
GPN_10312025_Dip_Buyer_FCFYield10312025GPNGlobal PaymentsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
1.9%1.9%-0.8%
APO_10102025_Dip_Buyer_FCFYield10102025APOApollo Asset ManagementDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
13.1%13.1%0.0%
WEX_10102025_Dip_Buyer_ValueBuy10102025WEXWEXDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-1.1%-1.1%-2.9%
WEX_9302020_Dip_Buyer_FCFYield09302020WEXWEXDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
50.6%26.7%-9.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BRO_10312025_Dip_Buyer_FCFYield10312025BROBrown & BrownDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-2.4%-2.4%-2.4%
CPAY_10312025_Dip_Buyer_FCFYield10312025CPAYCorpayDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.5%0.5%0.0%
EEFT_10312025_Dip_Buyer_FCFYield10312025EEFTEuronet WorldwideDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-3.5%-3.5%-3.5%
GPN_10312025_Dip_Buyer_FCFYield10312025GPNGlobal PaymentsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
1.9%1.9%-0.8%
APO_10102025_Dip_Buyer_FCFYield10102025APOApollo Asset ManagementDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
13.1%13.1%0.0%
WEX_10102025_Dip_Buyer_ValueBuy10102025WEXWEXDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-1.1%-1.1%-2.9%
WEX_9302020_Dip_Buyer_FCFYield09302020WEXWEXDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
50.6%26.7%-9.3%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for WEX

Financials

WEXJKHYGEEFTWUVMedian
NameWEX Jack Hen.Genpact Euronet .Western .Visa  
Mkt Price148.54159.8338.8273.218.87340.04110.88
Mkt Cap5.111.66.83.02.9626.75.9
Rev LTM2,6242,3754,9294,1834,10038,8934,142
Op Inc LTM65556973555275025,864695
FCF LTM64341056233440322,083486
FCF 3Y Avg55630752157640619,899538
CFO LTM79864265046254223,485646
CFO 3Y Avg70753059368655221,134640

Growth & Margins

WEXJKHYGEEFTWUVMedian
NameWEX Jack Hen.Genpact Euronet .Western .Visa  
Rev Chg LTM-1.2%7.2%7.4%7.2%-2.5%11.4%7.2%
Rev Chg 3Y Avg5.7%6.9%5.1%8.2%-4.2%11.5%6.3%
Rev Chg Q3.9%9.9%6.6%4.2%-0.3%14.3%5.4%
QoQ Delta Rev Chg LTM1.0%2.4%1.6%1.1%-0.1%3.4%1.4%
Op Mgn LTM25.0%23.9%14.9%13.2%18.3%66.5%21.1%
Op Mgn 3Y Avg25.5%23.1%14.2%12.3%17.8%66.8%20.4%
QoQ Delta Op Mgn LTM-0.7%0.7%-0.1%0.2%0.9%-0.0%0.1%
CFO/Rev LTM30.4%27.0%13.2%11.1%13.2%60.4%20.1%
CFO/Rev 3Y Avg27.3%23.7%12.8%17.9%13.0%60.1%20.8%
FCF/Rev LTM24.5%17.3%11.4%8.0%9.8%56.8%14.3%
FCF/Rev 3Y Avg21.5%13.6%11.2%15.1%9.6%56.6%14.3%

Valuation

WEXJKHYGEEFTWUVMedian
NameWEX Jack Hen.Genpact Euronet .Western .Visa  
Mkt Cap5.111.66.83.02.9626.75.9
P/S1.94.91.40.70.716.11.7
P/EBIT8.119.58.65.63.825.28.4
P/E18.025.512.69.73.730.915.3
P/CFO6.418.110.46.45.326.78.4
Total Yield5.6%4.6%9.6%10.3%38.0%3.8%7.6%
Dividend Yield0.0%0.7%1.7%0.0%11.0%0.6%0.6%
FCF Yield 3Y Avg8.1%2.4%7.7%14.5%11.3%4.1%7.9%
D/E1.00.00.20.80.90.00.5
Net D/E0.0-0.00.10.1-0.10.00.0

Returns

WEXJKHYGEEFTWUVMedian
NameWEX Jack Hen.Genpact Euronet .Western .Visa  
1M Rtn-6.2%8.2%-5.6%-16.8%9.9%-2.6%-4.1%
3M Rtn-13.6%-3.8%-7.6%-20.8%13.4%0.1%-5.7%
6M Rtn22.5%-6.3%-21.0%-30.7%-1.7%-2.5%-4.4%
12M Rtn-14.4%-12.7%0.8%-27.8%-10.8%16.8%-11.7%
3Y Rtn-4.4%-7.9%-12.3%-11.5%-10.7%77.0%-9.3%
1M Excs Rtn-6.8%5.6%-5.8%-17.0%7.4%-4.7%-5.3%
3M Excs Rtn-19.7%-9.4%-13.8%-27.0%6.9%-4.8%-11.6%
6M Excs Rtn1.8%-26.9%-41.7%-51.4%-22.4%-23.2%-25.1%
12M Excs Rtn-33.2%-30.2%-15.9%-44.3%-27.3%-0.9%-28.7%
3Y Excs Rtn-85.0%-92.0%-91.8%-88.4%-90.8%-7.2%-89.6%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Mobility1,3831,4441,1119181,038
Benefits668504414364317
Corporate Payments497402325278368
Total2,5482,3501,8511,5601,724


Operating Income by Segment
$ Mil20242023202220212020
Mobility599693557384486
Corporate Payments2771938762169
Benefits2421341049780
Impairment charges0-1360-530
Other acquisition and divestiture related items-7-18-41-58-38
Other costs-46-40-23-14-25
Unallocated corporate expenses-103-84-78-63-68
Stock-based compensation-132-101-77-66-48
Acquisition-related intangible amortization-184-170-182-171-159
Debt restructuring costs 0-6-1-11
Legal settlement   -1620
Loss on sale of subsidiary   -460
Total647470342-92386


Price Behavior

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity1,793,712
Short Interest: % Change Since 93020257.5%
Average Daily Volume263,491
Days-to-Cover Short Interest6.81
Basic Shares Quantity34,400,000
Short % of Basic Shares5.2%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/29/2025-1.6%  
7/23/20256.5%5.1%3.8%
4/30/2025-6.8%-7.0%2.0%
2/5/2025-18.7%-19.2%-15.0%
10/24/2024-15.0%-18.4%-14.7%
7/25/2024-3.7%2.6%1.8%
4/25/2024-7.8%-10.2%-19.2%
2/8/20242.3%6.6%13.1%
...
SUMMARY STATS   
# Positive9108
# Negative141315
Median Positive4.1%5.0%7.3%
Median Negative-5.8%-8.6%-7.3%
Max Positive7.1%7.0%35.9%
Max Negative-18.7%-19.2%-38.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
93020251030202510-Q 9/30/2025
6302025724202510-Q 6/30/2025
3312025501202510-Q 3/31/2025
12312024220202510-K 12/31/2024
93020241024202410-Q 9/30/2024
6302024725202410-Q 6/30/2024
3312024425202410-Q 3/31/2024
12312023223202410-K 12/31/2023
93020231027202310-Q 9/30/2023
6302023727202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022228202310-K 12/31/2022
93020221028202210-Q 9/30/2022
6302022729202210-Q 6/30/2022
3312022503202210-Q 3/31/2022
12312021301202210-K 12/31/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Drew Ann ElenaChief Risk and Compliance8082025Sell171.691,931331,5331,252,479Form
1Carriedo CarlosCOO, Amer. Payments & Mobility8042025Sell171.68875150,224904,776Form
2Kimball JenniferChief Accounting Officer6042025Sell131.081,400183,512416,441Form
3Smith Melissa DChair, CEO, and President6022025Buy134.573,721500,72013,615,667Form
4Tinto Melanie JChief People Officer2132025Sell152.653,243495,044796,528Form