WEXNYSEServices-Business Services, NECUS GAAP · USD

WEX Inc.

WEX Inc. is a U.S.-based commerce platform that provides embedded payments and workflow software across Mobility, Benefits, and Corporate Payments. Its products connect payment processing, data, and administrative workflows for fleets, employers, and businesses that manage complex payables and benefit programs.

Kysy yhtiöstä
Liikevaihto2 661milj. USD
+1,2 %v/v
Liikevoitto (EBIT)664milj. USD
−3,3 %v/v
EBIT-marginaali25,0%
−1,2 %-yks.v/v
Nettotulos304milj. USD
−1,8 %v/v
Vapaa kassavirta314milj. USD
−6,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−1 00001 0002 0003 000milj. USD2020: 1 560 milj. USD2020: EBIT −92 milj. USD20202021: 1 851 milj. USD2021: EBIT 342 milj. USD20212022: 2 351 milj. USD2022: EBIT 470 milj. USD20222023: 2 548 milj. USD2023: EBIT 647 milj. USD20232024: 2 628 milj. USD2024: EBIT 686 milj. USD20242025: 2 661 milj. USD2025: EBIT 664 milj. USD20252 661664
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: WEX Inc.

Liiketoiminta

Osuus liikevaihdosta
Mobility55 %

Fleet payment, transaction processing, and software for fuel, EV charging, and fleet operations.

Benefits20 %

Employee benefits administration and payment-enabled account management for tax-advantaged programs.

Corporate Payments25 %

Accounts payable automation, embedded payments, and supplier enablement for businesses and partners.

Tuotteet

Raportoitu · osuus liikevaihdosta
61,9%30,4%FY2025100 %
  • Payment Processing Revenue61,9 %
  • Account Servicing Revenue30,4 %
  • Other7,7 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

WEX sells to fleets, employers, financial institutions, and businesses that need embedded payment and workflow tools. Its customer base includes service and freight fleets, HR and benefits administrators, mid-sized and large corporations, and verticals such as travel, fintech, insurance, consumer bill pay, and media. Many customers use WEX because the products are integrated into existing operating systems and reduce manual processing, compliance burden, and payment friction.

Fleet operators

Businesses running light, medium, and heavy-duty fleets that buy fuel and manage vehicle-related spend through WEX cards and software.

Employers and benefits administrators

Organizations that use WEX to administer HSAs, FSAs, HRAs, COBRA, and related employee benefit programs.

Mid-sized and large corporations

Companies that use direct AP and embedded payment tools to automate supplier payments and ERP-linked workflows.

Financial institutions and partners

Banks and branded partners that license or distribute WEX technology under white-label or co-branded arrangements.

Vertical platform customers

Travel, fintech, insurance, bill pay, and media platforms that embed WEX payment capabilities into their offerings.

Strategia

WEX’s strategy centers on embedding payments into customer workflows so it can sit inside fleet, benefits, and AP processes rather than act as a standalone payment rail. The company emphasizes proprietary networks, software, and data integration to deepen customer usage and expand transaction volume across its platform. It also uses direct sales and partner channels, including white-label and co-branded relationships, to broaden distribution without relying on a single route to market.

Deepen embedded payment adoptionKeskipitkä aikaväli

Embedding payments into customer systems increases switching costs and transaction volume.

Expand partner-led distributionKeskipitkä aikaväli

Co-branded and white-label channels broaden reach and reduce dependence on direct sales alone.

Increase workflow automation contentPitkä aikaväli

More software and data functionality makes the platform more valuable than basic payment processing.

Maantiede

2025

WEX operates globally, with a core base in the United States and meaningful activity across Canada, Europe, and Asia-Pacific. Its Mobility segment serves fleets in North America and internationally, while Corporate Payments and Benefits are also used across global customer networks. Geography matters because the company’s funding, regulatory, and customer mix differ by region, especially where fleet, healthcare, and payments rules vary.

USA88 %
Other countries (US filing)12 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

WEX is exposed to fuel demand, travel activity, and healthcare-related end-market cycles because those volumes drive usage across its platform. It also faces regulatory and funding risk through WEX Bank, plus competitive pressure from banks, payment networks, and specialized fintech providers that can compress fees or reduce volumes. Credit losses, goodwill impairment, litigation, and leverage are additional risks because the business combines financial services, software, and bank-supported funding.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Fuel demand and fuel price volatility1WEX Bank charter and regulatory risk2Competitive fee pressure3Credit loss exposure4Goodwill and intangible impairment5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Fuel demand and fuel price volatilityVaikutus: KorkeaTodennäköisyys: Korkea

    Mobility volumes depend on gasoline and diesel consumption and fleet activity.

    Kohdistuu: Mobility segment

  2. WEX Bank charter and regulatory riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The bank supports funding for a substantial portion of U.S. and Canadian operations.

    Kohdistuu: Mobility and Corporate Payments

  3. Competitive fee pressureVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Banks, fleet specialists, and fintechs can undercut pricing or win share.

    Kohdistuu: All segments

  4. Credit loss exposureVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The platform extends receivables and financing-like exposure to customers and partners.

    Kohdistuu: Accounts receivable and funding activities

  5. Goodwill and intangible impairmentVaikutus: KeskitasoTodennäköisyys: Matala

    Acquisitions and acquired brands create balance-sheet assets that depend on future cash flows.

    Kohdistuu: International Mobility and acquired businesses

Kysy Clarifolta: WEX Inc.

Kirjanpito

Harkinnanvaraiset erät
Credit loss reserves

Management estimates expected losses on receivables; changes flow through provision expense.

Vaikutus: A small reserve change can materially affect earnings.

Goodwill impairment

Acquired reporting units are tested against future cash flow assumptions.

Vaikutus: Impairment would reduce earnings and equity.

Business combination valuation

Acquired intangibles and liabilities are measured using management assumptions.

Vaikutus: Affects amortization, goodwill, and future reported profit.

Deferred tax assets

Recoverability depends on future taxable income and tax planning.

Vaikutus: Can create valuation allowance changes in tax expense.

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

IBEX Ltd

IBEX · Services-Computer Processing & Data Preparation

WEC Energy Group, Inc

WEC · Electric & Other Services Combined

CXApp Inc.

CXAIW · Services-Prepackaged Software

Innovative Payment Solutions, Inc.

IPSI · Retail-Catalog & Mail-Order Houses

FedEx Corporation

FDX · Air Courier Services

Yext, Inc.

YEXT · Services-Computer Processing & Data Preparation

Päivitetty: 24.9.2026

WEX Inc. (WEX) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo