WEX (WEX)
Market Price (10/17/2025): $147.67 | Market Cap: $5.1 BilSector: Financials | Industry: Transaction & Payment Processing Services
WEX (WEX)
Market Price (10/17/2025): $147.67Market Cap: $5.1 BilSector: FinancialsIndustry: Transaction & Payment Processing Services
Investment Highlights
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 5.3% | Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -76% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%, Rev Chg QQuarterly Revenue Change % is -2.1% |
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% | ||
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% | ||
Low stock price volatilityVol 12M is 46% |
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 5.3% |
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% |
Low stock price volatilityVol 12M is 46% |
Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -76% |
Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%, Rev Chg QQuarterly Revenue Change % is -2.1% |
Market Valuation & Key Metrics
WEX Stock
Return vs. Risk
Price Returns Compared
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
WEX Return | -3% | -31% | 17% | 19% | -10% | -16% | -28% |
Peers Return | 1% | 0% | -9% | -0% | 11% | -9% | -8% |
S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 13% | 103% |
Monthly Win Rates [3] | |||||||
WEX Win Rate | 58% | 25% | 58% | 58% | 58% | 56% | |
Peers Win Rate | 60% | 52% | 43% | 58% | 55% | 36% | |
S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | |
Max Drawdowns [4] | |||||||
WEX Max Drawdown | -60% | -39% | -10% | -2% | -14% | -35% | |
Peers Max Drawdown | -35% | -17% | -23% | -20% | -6% | -13% | |
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 10/16/2025 (YTD)
Downturns Compared
Event | WEX | S&P 500 |
---|---|---|
2022 Inflation Shock | ||
% Loss | -46.2% | -25.4% |
% Gain to Breakeven | 86.0% | 34.1% |
Time to Breakeven | 831 days | 464 days |
2020 Covid Pandemic | ||
% Loss | -64.6% | -33.9% |
% Gain to Breakeven | 182.5% | 51.3% |
Time to Breakeven | 1458 days | 148 days |
2018 Correction | ||
% Loss | -34.6% | -19.8% |
% Gain to Breakeven | 52.8% | 24.7% |
Time to Breakeven | 109 days | 120 days |
2008 Global Financial Crisis | ||
% Loss | -79.0% | -56.8% |
% Gain to Breakeven | 375.2% | 131.3% |
Time to Breakeven | 713 days | 1480 days |
How Low Can It Go?
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.
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Asset Allocation
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to WEX. For more, see Trefis Trade Ideas.
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | HLNE | Hamilton Lane | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -12.7% | -12.7% | -12.7% |
09302025 | CNS | Cohen & Steers | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.3% | 0.3% | -1.6% |
09262025 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.4% | 2.4% | -2.1% |
09192025 | FDS | FactSet Research Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -3.9% | -3.9% | -4.9% |
09052025 | IBKR | Interactive Brokers | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 13.9% | 13.9% | 0.0% |
09302020 | WEX | WEX | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 50.6% | 26.7% | -9.3% |
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | HLNE | Hamilton Lane | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -12.7% | -12.7% | -12.7% |
09302025 | CNS | Cohen & Steers | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.3% | 0.3% | -1.6% |
09262025 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.4% | 2.4% | -2.1% |
09192025 | FDS | FactSet Research Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -3.9% | -3.9% | -4.9% |
09052025 | IBKR | Interactive Brokers | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 13.9% | 13.9% | 0.0% |
09302020 | WEX | WEX | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 50.6% | 26.7% | -9.3% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for WEX
Financials
Median | |
---|---|
Name | |
Mkt Price | 116.88 |
Mkt Cap | 5.9 |
Rev LTM | 4,120 |
Op Inc LTM | 690 |
FCF LTM | 486 |
FCF 3Y Avg | 547 |
CFO LTM | 646 |
CFO 3Y Avg | 651 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 7.3% |
Rev Chg 3Y Avg | 7.3% |
Rev Chg Q | 7.8% |
QoQ Delta Rev Chg LTM | 1.9% |
Op Mgn LTM | 20.7% |
Op Mgn 3Y Avg | 20.5% |
QoQ Delta Op Mgn LTM | 0.1% |
CFO/Rev LTM | 16.7% |
CFO/Rev 3Y Avg | 21.2% |
FCF/Rev LTM | 12.8% |
FCF/Rev 3Y Avg | 14.8% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 5.9 |
P/S | 1.7 |
P/EBIT | 8.2 |
P/E | 14.6 |
P/CFO | 11.2 |
Total Yield | 7.6% |
Dividend Yield | 0.7% |
FCF Yield 3Y Avg | 7.9% |
D/E | 0.5 |
Net D/E | 0.0 |
Returns
Median | |
---|---|
Name | |
1M Rtn | -3.7% |
3M Rtn | -9.0% |
6M Rtn | -9.7% |
12M Rtn | -15.0% |
3Y Rtn | -2.2% |
1M Excs Rtn | -4.1% |
3M Excs Rtn | -13.9% |
6M Excs Rtn | -35.2% |
12M Excs Rtn | -27.6% |
3Y Excs Rtn | -84.5% |
Comparison Analyses
Segment Financials
Revenue by Segment
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Mobility | 1,383 | 1,444 | 1,111 | 918 | 1,038 |
Benefits | 668 | 504 | 414 | 364 | 317 |
Corporate Payments | 497 | 402 | 325 | 278 | 368 |
Total | 2,548 | 2,350 | 1,850 | 1,560 | 1,724 |
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Mobility | 599 | 693 | 557 | 384 | 486 |
Corporate Payments | 277 | 193 | 87 | 62 | 169 |
Benefits | 242 | 134 | 104 | 97 | 80 |
Impairment charges | 0 | -136 | 0 | -53 | 0 |
Other acquisition and divestiture related items | -7 | -18 | -40 | -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 | -6 | -1 | -11 | ||
Legal settlement | -162 | 0 | |||
Loss on sale of subsidiary | -46 | 0 | |||
Total | 647 | 470 | 342 | -92 | 386 |
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
7/23/2025 | 6.5% | 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% |
2/8/2024 | 2.3% | 6.6% | 13.1% |
10/26/2023 | -8.0% | -6.3% | -2.8% |
... | |||
SUMMARY STATS | |||
# Positive | 9 | 10 | 8 |
# Negative | 15 | 14 | 16 |
Median Positive | 4.1% | 5.0% | 7.3% |
Median Negative | -6.8% | -8.6% | -6.2% |
Max Positive | 7.1% | 7.0% | 35.9% |
Max Negative | -18.7% | -19.2% | -38.4% |
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
6302025 | 7242025 | 10-Q 6/30/2025 |
3312025 | 5012025 | 10-Q 3/31/2025 |
12312024 | 2202025 | 10-K 12/31/2024 |
9302024 | 10242024 | 10-Q 9/30/2024 |
6302024 | 7252024 | 10-Q 6/30/2024 |
3312024 | 4252024 | 10-Q 3/31/2024 |
12312023 | 2232024 | 10-K 12/31/2023 |
9302023 | 10272023 | 10-Q 9/30/2023 |
6302023 | 7272023 | 10-Q 6/30/2023 |
3312023 | 4272023 | 10-Q 3/31/2023 |
12312022 | 2282023 | 10-K 12/31/2022 |
9302022 | 10282022 | 10-Q 9/30/2022 |
6302022 | 7292022 | 10-Q 6/30/2022 |
3312022 | 5032022 | 10-Q 3/31/2022 |
12312021 | 3012022 | 10-K 12/31/2021 |
9302021 | 11092021 | 10-Q 9/30/2021 |
Insider Activity
Expand for MoreOwner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
---|---|---|---|---|---|---|---|---|---|
0 | Drew Ann Elena | Chief Risk and Compliance | 8082025 | Sell | 171.69 | 1,931 | 331,533 | 1,252,479 | Form |
1 | Carriedo Carlos | COO, Amer. Payments & Mobility | 8042025 | Sell | 171.68 | 875 | 150,224 | 904,776 | Form |
2 | Kimball Jennifer | Chief Accounting Officer | 6042025 | Sell | 131.08 | 1,400 | 183,512 | 416,441 | Form |
3 | Smith Melissa D | Chair, CEO, and President | 6022025 | Buy | 134.57 | 3,721 | 500,720 | 13,615,667 | Form |
4 | Tinto Melanie J | Chief People Officer | 2132025 | Sell | 152.65 | 3,243 | 495,044 | 796,528 | Form |
External Quote Links
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