balance equationreview2022-12-31
Difference 254100000 exceeds tolerance 11529200.000. Presentation or filing-vintage differences need review.
Revenue
$2.66B
Fiscal year ended 2025-12-31Operating income
$663.90M
Fiscal year ended 2025-12-31Free cash flow
$313.70M
Fiscal year ended 2025-12-31WEX Inc. (WEX) reported revenue of $2.66B and net income of $304.10M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from WEX Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Business Services, NEC.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.66B | $2.63B | $2.55B | $2.35B | $1.85B | $1.56B | $1.72B | $1.49B | $1.25B | $1.01B |
| Cost of revenue | $1.10B | $1.04B | $973.30M | $930.50M | $702.10M | $673.18M | $659.77M | $547.93M | $514.28M | $458.81M |
| Gross profit | $1.56B | $1.59B | $1.57B | $1.42B | $1.15B | $886.69M | $1.06B | $944.71M | $734.29M | $553.68M |
| Operating income | $663.90M | $686.30M | $647.10M | $469.80M | $342.00M | -$91.67M | $385.84M | $380.64M | $233.42M | $158.52M |
| Net income | $304.10M | $309.60M | $266.60M | $167.20M | $135.30M | -$283.95M | $156.32M | $168.30M | $160.06M | $60.64M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 35.90M | shares 41.30M | shares 43.30M | shares 44.70M | shares 45.30M | shares 43.84M | shares 43.77M | shares 43.57M | shares 43.10M | shares 40.91M |
| Pretax income | $420.20M | $417.80M | $368.80M | $260.50M | $203.90M | -$301.08M | $216.52M | $238.62M | $174.42M | $48.93M |
| Income tax expense | $116.10M | $108.20M | $102.20M | $93.10M | $67.80M | -$20.60M | $61.22M | $68.84M | $15.45M | $28.59M |
| Diluted EPS | $8.47 | $7.50 | $6.16 | $4.50 | $0.00 | $-5.56 | $2.26 | $3.86 | $3.71 | $0.57 |
| Selling, general & administrative | $717.20M | $716.80M | $755.80M | $655.70M | $646.00M | $558.79M | $535.68M | $438.55M | $347.99M | $316.38M |
| General & administrative | $330.20M | $375.80M | $428.00M | $343.90M | $326.90M | $292.11M | $275.81M | $209.32M | $184.34M | $185.56M |
| Selling & marketing | $387.00M | $341.00M | $327.80M | $311.80M | $319.10M | $266.68M | $259.87M | $229.23M | $163.65M | $130.83M |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $905.80M | $595.80M | $975.80M | $922.00M | $588.90M | $852.00M | $810.93M | $541.50M | $503.52M | $190.93M |
| Total assets | $14.40B | $13.32B | $13.88B | $11.53B | $10.31B | $8.18B | $8.30B | $6.77B | $6.69B | $6.00B |
| Current assets | $9.71B | $8.52B | $8.94B | $6.82B | $5.30B | $3.50B | $3.84B | $3.40B | $3.21B | Unavailable |
| Total liabilities | $13.16B | $11.83B | $12.06B | $9.88B | $8.21B | $6.15B | $6.21B | $4.97B | $5.06B | $4.49B |
| Current liabilities | $9.29B | $8.33B | $8.52B | $6.29B | $4.40B | $2.74B | $3.05B | $2.31B | $2.58B | Unavailable |
| Total equity incl. NCI | $1.23B | $1.49B | $1.82B | $1.65B | $1.84B | $1.88B | $1.93B | $1.80B | $1.63B | $1.42B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | $0 | $254.10M | $254.11M | $117.22M | $156.88M | $0 | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $2.58B | $2.46B | $2.05B |
| Goodwill | $3.02B | $2.98B | $3.02B | $2.73B | $2.91B | $2.69B | $2.44B | $1.83B | $1.88B | $1.84B |
| Long-term debt | $3.53B | $3.08B | $2.83B | $2.52B | $2.70B | $2.87B | $2.69B | $2.13B | $2.03B | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $454.30M | $481.40M | $907.90M | $679.40M | -$42.60M | $736.80M | $663.17M | $400.23M | $135.43M | -$141.19M |
| Capital expenditures | $140.60M | $147.30M | $143.60M | $112.90M | $86.00M | $80.47M | $102.86M | $87.15M | $79.28M | $61.80M |
| Investing cash flow | -$696.90M | -$960.60M | -$2.14B | -$716.70M | -$1.60B | -$329.09M | -$990.61M | -$254.18M | -$168.05M | -$1.16B |
| Financing cash flow | $418.90M | -$260.30M | $1.57B | $681.30M | $1.60B | -$59.04M | $749.77M | -$102.73M | $359.38M | $1.22B |
| Net change in cash | $241.40M | -$793.00M | $370.30M | $602.90M | -$72.80M | $348.27M | $426.35M | $32.65M | $309.04M | -$82.75M |
| Stock-based compensation | $100.30M | $112.20M | $127.00M | $97.90M | $74.80M | $63.86M | $45.81M | $33.89M | $30.49M | $19.74M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $799.80M | $652.00M | $303.40M | $282.80M | $0 | $0 | Unavailable | Unavailable | $0 | $0 |
| Depreciation & amortization | $331.10M | $321.30M | $276.20M | $263.90M | $272.60M | $261.93M | $237.13M | $199.80M | $203.72M | $141.65M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $313.70M | $334.10M | $764.30M | $566.50M | -$128.60M | $656.33M | $560.31M | $313.08M | $56.15M | -$202.98M |
| Gross margin | 58.6% | 60.5% | 61.8% | 60.4% | 62.1% | 56.8% | 61.7% | 63.3% | 58.8% | 54.7% |
| Operating margin | 25.0% | 26.1% | 25.4% | 20.0% | 18.5% | -5.9% | 22.4% | 25.5% | 18.7% | 15.7% |
| FCF margin | 11.8% | 12.7% | 30.0% | 24.1% | -6.9% | 42.1% | 32.5% | 21.0% | 4.5% | -20.0% |
| SBC / revenue | 3.8% | 4.3% | 5.0% | 4.2% | 4.0% | 4.1% | 2.7% | 2.3% | 2.4% | 1.9% |
| Current ratio | 1.05x | 1.02x | 1.05x | 1.08x | 1.20x | 1.28x | 1.26x | 1.47x | 1.24x | Unavailable |
| Revenue YoY growth | 1.2% | 3.1% | 8.4% | 27.0% | 18.6% | -9.5% | 15.5% | 19.5% | 23.3% | Unavailable |
| Net margin | 11.4% | 11.8% | 10.5% | 7.1% | 7.3% | -18.2% | 9.1% | 11.3% | 12.8% | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 5.3% | 5.6% | 5.6% | 4.8% | 4.6% | 5.2% | 6.0% | 5.8% | 6.3% | 6.1% |
| Long-term debt / equity | 2.86x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 27.6% | 25.9% | 27.7% | 35.7% | 33.3% | Unavailable | 28.3% | 28.9% | 8.9% | 58.4% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open WEX in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-23View SEC filing
10-Q · Filed 2026-04-23View SEC filing
10-K · Filed 2026-02-13View SEC filing
10-Q · Filed 2025-10-30View SEC filing
10-Q · Filed 2025-07-24View SEC filing
10-Q · Filed 2025-05-01View SEC filing
Reconciliation checks needing review
4 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
balance equationreview2020-12-31
Difference 40017000 exceeds tolerance 8183361.000. Presentation or filing-vintage differences need review.
balance equationreview2019-12-31
Difference 8777000 exceeds tolerance 8298418.000. Presentation or filing-vintage differences need review.
balance equationreview2016-12-31
Difference 90596000 exceeds tolerance 5997097.000. Presentation or filing-vintage differences need review.