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WEX 
Wex Inc (WEX)
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Upturn Advisory Summary
01/09/2026: WEX (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
16 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $176.89
1 Year Target Price $176.89
| 2 | Strong Buy |
| 1 | Buy |
| 13 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -6.46% | Avg. Invested days 32 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 5.55B USD | Price to earnings Ratio 21.11 | 1Y Target Price 176.89 |
Price to earnings Ratio 21.11 | 1Y Target Price 176.89 | ||
Volume (30-day avg) 16 | Beta 0.99 | 52 Weeks Range 110.45 - 188.70 | Updated Date 01/9/2026 |
52 Weeks Range 110.45 - 188.70 | Updated Date 01/9/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 7.67 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 10.81% | Operating Margin (TTM) 26.53% |
Management Effectiveness
Return on Assets (TTM) 2.94% | Return on Equity (TTM) 20.29% |
Valuation
Trailing PE 21.11 | Forward PE 9.02 | Enterprise Value 5534546819 | Price to Sales(TTM) 2.11 |
Enterprise Value 5534546819 | Price to Sales(TTM) 2.11 | ||
Enterprise Value to Revenue 2.11 | Enterprise Value to EBITDA 5.76 | Shares Outstanding 34288525 | Shares Floating 29858448 |
Shares Outstanding 34288525 | Shares Floating 29858448 | ||
Percent Insiders 1.03 | Percent Institutions 113.48 |
Upturn AI SWOT
Wex Inc
Company Overview
History and Background
Wex Inc. was founded in 1983 as Wright Express Corporation in Portland, Maine. Initially, it focused on providing fleet fuel payment solutions for businesses. Over the years, the company expanded its services through organic growth and strategic acquisitions, evolving into a global leader in payment processing and business solutions. Key milestones include its initial public offering (IPO) in 2005 and its rebranding to Wex Inc. in 2012, reflecting its broader service offerings beyond fleet cards.
Core Business Areas
- Fleet Solutions: Provides payment processing solutions for commercial fleets, including fuel cards, fleet management software, and data analytics to help businesses control spending and manage operations. This segment is crucial for companies with large vehicle fleets.
- Corporate Payments: Offers accounts payable automation and payment solutions for businesses to streamline their payment processes, manage expenses, and improve working capital. This includes virtual card solutions and other payment technologies.
- Travel: Provides travel payment solutions, including corporate travel payment technology and loyalty program solutions for the travel and hospitality industry. This segment helps travel companies manage payments and customer engagement.
Leadership and Structure
Wex Inc. is led by a seasoned executive team, with Jay Dearborn as President and CEO. The company operates on a divisional structure aligned with its core business areas (Fleet, Corporate Payments, Travel) to ensure specialized focus and efficient management of each segment. The board of directors oversees the company's strategic direction and governance.
Top Products and Market Share
Key Offerings
- Fleet Fuel Cards: Wex offers a comprehensive suite of fuel cards designed for businesses of all sizes. These cards provide spending controls, reporting, and fraud protection. Competitors include Fuelman (a division of FLEETCOR), Voyager (an Elavon financial service), and direct offerings from fuel providers.
- Fleet Management Software: Integrated software solutions that complement the fuel cards, offering telematics, driver management, and analytics to optimize fleet operations. Competitors overlap with fuel card providers and specialized fleet management software companies like Samsara and Geotab.
- Accounts Payable Automation: Solutions for businesses to automate their invoice processing, approval workflows, and payment execution. Key competitors include Bill.com, AvidXchange, and SAP Concur.
- Virtual Cards: A key offering in Corporate Payments, Wex provides virtual card solutions for B2B payments, offering enhanced security, control, and reconciliation. Competitors include Visa, Mastercard, American Express, and various payment processors.
Market Dynamics
Industry Overview
Wex operates within the payment processing and business solutions industry, which is characterized by rapid technological advancement, increasing demand for digital payment solutions, and a strong focus on efficiency and automation for businesses. The fleet management sector is driven by the need for cost control and operational optimization, while corporate payments are influenced by the shift towards electronic invoicing and payments.
Positioning
Wex is a leading player in its core segments, particularly in commercial fleet payment solutions and corporate payments. Its competitive advantages lie in its scale, established customer base, integrated technology platform, and ability to offer tailored solutions across its diverse product portfolio. The company's focus on niche markets and specialized payment needs differentiates it from broader payment processors.
Total Addressable Market (TAM)
The total addressable market for Wex's services is substantial and continues to grow. For fleet solutions, it encompasses the global market for commercial fleet cards and management, estimated to be in the hundreds of billions of dollars. The corporate payments market is even larger, with the global B2B payments market projected to reach trillions of dollars. Wex is well-positioned to capture a significant portion of its target TAM through its established presence and specialized offerings.
Upturn SWOT Analysis
Strengths
- Strong market position in fleet payment solutions.
- Diversified revenue streams across fleet, corporate, and travel.
- Robust technology platform and data analytics capabilities.
- Extensive network of merchants and partners.
- Proven track record of successful acquisitions.
Weaknesses
- Reliance on key customer relationships.
- Potential integration challenges with acquisitions.
- Sensitivity to economic downturns impacting business spending.
- Competition from larger, more diversified financial institutions.
Opportunities
- Expansion into new geographic markets.
- Development of new payment technologies and digital solutions.
- Increased adoption of automation in corporate finance.
- Growth in the e-commerce and gig economy impacting fleet needs.
- Further consolidation in the payment processing industry.
Threats
- Increased regulatory scrutiny in the financial services sector.
- Cybersecurity risks and data breaches.
- Disruptive technologies from fintech startups.
- Intensifying competition from established players and new entrants.
- Changes in fuel prices and energy markets.
Competitors and Market Share
Key Competitors
- FLEETCOR Technologies, Inc. (FLT)
- Fiserv, Inc. (FI)
- Global Payments Inc. (GPN)
- Adyen N.V. (ADYEN.AS)
Competitive Landscape
Wex competes in a dynamic and competitive landscape. Its primary advantage lies in its specialized focus on fleet and corporate payments, allowing for tailored solutions. However, it faces competition from larger, more diversified payment processors and specialized fintech companies offering innovative solutions. FLEETCOR is a particularly strong competitor in the fleet space. Wex's ability to integrate its offerings and leverage its data analytics provides a differentiating factor.
Major Acquisitions
eNett International and Select Travel Technology Assets
- Year: 2017
- Acquisition Price (USD millions): 1300
- Strategic Rationale: To significantly expand Wex's presence in the global travel payment market and enhance its corporate payment capabilities, particularly in the travel sector.
Priceless
- Year: 2019
- Acquisition Price (USD millions): 80
- Strategic Rationale: To strengthen Wex's fleet solutions business in Europe by acquiring a leading fuel card program in the United Kingdom.
Propel Solutions
- Year: 2023
- Acquisition Price (USD millions):
- Strategic Rationale: To enhance Wex's data analytics capabilities within its fleet business, enabling deeper insights and more personalized solutions for its customers.
Growth Trajectory and Initiatives
Historical Growth: Wex has experienced consistent historical growth, fueled by its expanding customer base, introduction of new products, and strategic acquisitions in its core segments. The company has successfully integrated acquired businesses to leverage synergies and broaden its service offerings.
Future Projections: Analyst expectations for Wex's future growth are generally positive, anticipating continued revenue expansion driven by increasing adoption of digital payment solutions and ongoing market penetration in its key segments. Projections often consider organic growth and potential further acquisitions. (Note: Specific future projections are subject to analyst reports and market conditions.)
Recent Initiatives: Recent strategic initiatives have included ongoing investment in technology and data analytics to enhance its product offerings, expansion of its corporate payments segment, and strategic acquisitions to bolster its market position in key areas. The company also focuses on improving customer experience through digital platforms.
Summary
Wex Inc. is a financially robust company with a strong market position in specialized payment and business solutions. Its diversified business model, particularly in fleet and corporate payments, provides resilience and multiple avenues for growth. The company's consistent revenue generation and strategic acquisitions have driven historical success. However, it must remain vigilant against intense competition and the evolving fintech landscape, while continuing to invest in technology to maintain its competitive edge.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Wex Inc. Investor Relations
- Company Annual Reports (10-K)
- Financial News Outlets
- Industry Analysis Reports
- Market Research Databases
Disclaimers:
This JSON output is generated based on publicly available information and analytical models. It is intended for informational purposes only and does not constitute financial advice. Market share data and future projections are estimates and subject to change. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Wex Inc
Exchange NYSE | Headquaters Portland, ME, United States | ||
IPO Launch date 2005-02-16 | Chairman of the Board, President & CEO Ms. Melissa D. Smith | ||
Sector Technology | Industry Software - Infrastructure | Full time employees 6500 | Website https://www.wexinc.com |
Full time employees 6500 | Website https://www.wexinc.com | ||
WEX Inc. operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings. This segment markets its products directly and indirectly to businesses and government agencies with fleets of commercial vehicles; and indirectly through co-branded and private label relationships. The Corporate Payments segment provides payment solutions, including embedded payments; and accounts payable automation and spend management solutions. This segment also markets its products directly and indirectly to customers in travel, fintech, insurance, consumer bill pay, and media verticals. The Benefits Solutions segment offers software-as-a-service (SaaS) platform for consumer directed healthcare benefits and full-service benefit enrollment solutions. In addition, its SaaS platform includes embedded payment solutions and plan administration services for consumer-directed health benefits; COBRA accounts; and benefit enrollment and administration services. Further, it offers custodial and depository services for health savings accounts; and markets its products through third-party administrators, financial institutions, payroll providers, and health plans. The company was formerly known as Wright Express Corporation and changed its name to WEX Inc. in October 2012. The company was founded in 1983 and is headquartered in Portland, Maine.
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