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WEX (WEX) AI Stock Analysis
WEX
(NYSE:WEX)
The score is held back primarily by weak TTM cash flow (negative operating and free cash flow) alongside meaningful leverage, despite strong reported profitability. Offsetting factors include constructive technical momentum (price above major moving averages and positive MACD) and a supportive earnings-call backdrop with raised guidance, strong free-cash-flow commentary, and capital returns via buybacks. Valuation appears reasonable on a P/E basis but lacks dividend support in the provided data.
WEX (WEX) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $6.29B
- Dividend Yield
- ―
- Average Volume (3M)
- 554.26K
- Price to Earnings (P/E)
- 15.7
- Beta (1Y)
- 0.95
- Revenue Growth
- 9.75%
- EPS Growth
- 51.45%
- Country
- US
- Employees
- 6,600
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Software - Infrastructure
WEX Business Overview & Revenue Model
Company Description
WEX Inc., a financial technology enterprise established in 1983 and headquartered in Portland, Maine, delivers diverse services across the United States and globally. The company, which operated as Wright Express Corporation until its name change in...
How the Company Makes Money
WEX makes money mainly by facilitating and managing payments and charging fees tied to transaction activity, program management, and related services across its platforms. In its fleet and commercial payments business, WEX issues and manages fleet fu...
WEX Earnings Call Summary
The call was strongly positive. WEX reported record revenue, substantial adjusted EPS and operating-income growth, improving underlying organic performance, strong free cash flow, share repurchases, lower leverage, and raised full-year guidance. Mobility growth and pricing momentum improved, Direct AP significantly outperformed expectations, and AI and product investments continued to advance. The main challenges were softer over-the-road volume, travel-related pressure from the Middle East conflict, delayed embedded implementations, benefits account-comparison headwinds, lower interest-rate effects, and expected higher fuel-related charge-offs in the fourth quarter. Overall, the highlights significantly outweighed the lowlights.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For Q4, WEX expects revenue in the range of $760 million to $780 million and adjusted net income EPS to be between $5.67 and $5.87 per diluted share; for the full year, it expects revenue in the range of $2.97 billion to $2.99 billion and adjusted net income EPS to be between $21.28 and $21.48 per diluted share. At the midpoint, Q4 implies 5% organic revenue growth, with no demand recovery in mobility, while mobility organic revenue growth is now expected to be in the 3% to 5% range, corporate payments segment revenue growth is expected to be 4% to 6%, and macro-adjusted margin expansion is expected to be above a 100-basis-points in total for the second half of the year. The outlook includes interest rate impacts in line with the current market fed funds projection, a 1% headwind from the Middle East conflict to corporate payments growth rates, and does not factor the impact of share repurchases beyond Q3.
WEX Financial Statement Overview
Summary
Income statement strength (strong TTM revenue growth and solid profitability) is outweighed by the cash flow deterioration (negative TTM operating cash flow and free cash flow) and a leveraged balance sheet with a shrinking equity cushion, increasing financial risk until cash conversion normalizes.
Income Statement
72PositiveBalance Sheet
55NeutralCash Flow
28Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.88B | 2.66B | 2.63B | 2.55B | 2.35B | 1.85B |
| Gross Profit | 1.66B | 1.46B | 1.59B | 1.57B | 1.42B | 1.15B |
| EBITDA | 1.10B | 994.90M | 975.00M | 849.60M | 571.90M | 565.70M |
| Net Income | 404.60M | 304.10M | 309.60M | 266.60M | 201.40M | 100.00K |
Balance Sheet | ||||||
| Total Assets | 16.20B | 14.40B | 13.32B | 13.88B | 11.53B | 10.31B |
| Cash, Cash Equivalents and Short-Term Investments | 5.27B | 5.24B | 4.36B | 4.00B | 3.26B | 2.21B |
| Total Debt | 5.32B | 4.86B | 4.45B | 3.87B | 2.81B | 2.95B |
| Total Liabilities | 15.04B | 13.16B | 11.83B | 12.06B | 9.88B | 8.21B |
| Stockholders Equity | 1.15B | 1.23B | 1.49B | 1.82B | 1.65B | 1.84B |
Cash Flow | ||||||
| Free Cash Flow | -291.30M | 313.70M | 334.10M | 763.90M | 563.20M | 64.36M |
| Operating Cash Flow | -124.90M | 454.30M | 481.40M | 907.90M | 679.40M | 150.40M |
| Investing Cash Flow | -1.03B | -696.90M | -960.60M | -2.14B | -716.70M | -1.60B |
| Financing Cash Flow | 799.00M | 418.90M | -260.30M | 1.57B | 681.30M | 1.40B |
WEX Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WEX, the sentiment is Positive. The current price of 189.57 is above the 20-day moving average (MA) of 181.65, above the 50-day MA of 186.09, and above the 200-day MA of 164.45, indicating a neutral trend. The MACD of 1.84 indicates Negative momentum. The RSI at 50.66 is Neutral, neither overbought nor oversold. The STOCH value of 34.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WEX.
WEX Risk Analysis
WEX disclosed 57 risk factors in its most recent earnings report. WEX reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksWEX Peers Comparison
Overall Rating
DLO74Outperform
PAYO71Outperform
MQ69Neutral
ACIW68Neutral- WEX65Neutral
EEFT62Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| DLO | 74Outperform | $3.66B | 18.78 | 37.65% | 1.52% | 57.03% | 38.31% |
| PAYO | 71Outperform | $2.42B | 50.64 | 7.27% | ― | 6.31% | -48.91% |
| MQ | 69Neutral | $1.88B | 184.69 | 1.36% | ― | 22.41% | ― |
| ACIW | 68Neutral | $5.69B | 25.61 | 15.06% | ― | 7.03% | -8.05% |
| WEX | 65Neutral | $6.07B | 15.67 | 32.33% | ― | 9.75% | 51.45% |
| EEFT | 62Neutral | $2.36B | 9.41 | 22.18% | ― | 4.95% | ― |
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| WEX | WEX Inc | 184.61 | 33.90 | 22.49% | |
| ACIW | ACI Worldwide, Inc. | 56.34 | 8.67 | 18.19% | |
| EEFT | Euronet Worldwide | 63.15 | -11.07 | -14.92% | |
| PAYO | Payoneer Inc. | 7.15 | 1.42 | 24.78% | |
| MQ | Marqeta, Inc. | 18.10 | 0.12 | 0.67% | |
| DLO | Dlocal Limited | 12.96 | -1.21 | -8.55% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 29, 2026