WEX Inc. is a leading global provider of corporate payment solutions that enable its customers to manage their businesses more efficiently, with enhanced security and greater control over their costs. From its roots in fleet card payments beginning in 1983, WEX has expanded its scope to become a multi-channel provider of corporate payment solutions with millions of cardholders across several growing market sectors including travel, healthcare and employee benefits. The Company's focus is on providing exceptional payment security and control for a vast spectrum of payment sectors while delivering an exceptional experience so that our customers – whether large or small – can operate efficiently, securely and profitably.

TypePublic
HQSouth Portland, US
Founded1983
Size (employees)2,600 (est)
Websitewexinc.com
WEX was founded in 1983 and is headquartered in South Portland, US
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WEX Office Locations

WEX has offices in South Portland, London, Auckland and Kew
South Portland, US (HQ)
97 Darling Ave
South Portland, US
50 Foden Rd
Kew, AU
Vic Roads
Auckland, NZ
2 160 Grafton Rd
London, GB
66 Hammersmith Rd
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WEX Financials and Metrics

WEX Revenue

WEX's revenue was reported to be $1.25 b in FY, 2017
USD

Revenue (Q2, 2018)

725.7m

Net income (Q2, 2018)

88.8m

EBIT (Q2, 2018)

181.3m

Market capitalization (18-Oct-2018)

8.1b

Closing stock price (18-Oct-2018)

186.9

Cash (30-Jun-2018)

310.8m

EV

9.9b
WEX's current market capitalization is $8.1 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

717.5m817.6m854.6m1.0b1.3b

Revenue growth, %

14%5%19%

Sales and marketing expense

5.6m

General and administrative expense

25.8m27.7m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

191.5m182.1m201.6m222.1m202.3m213.7m226.1m205.9m233.9m287.8m291.4m303.9m354.8m725.7m

Sales and marketing expense

56.5m114.2m

General and administrative expense

3.8m4.4m3.8m5.4m5.0m5.0m5.2m5.7m6.1m7.3m6.4m6.5m55.3m103.9m

Operating expense total

113.6m120.5m121.3m119.6m154.0m150.7m158.3m164.8m182.3m233.2m230.6m256.3m111.9m218.2m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

361.5m284.8m280.0m190.9m508.1m

Accounts Receivable

1.7b1.9b1.5b2.1b2.5b

Inventories

Goodwill

818.4m1.1b1.1b1.8b1.9b
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Cash

391.2m354.8m319.0m576.7m511.0m184.3m533.6m515.3m317.8m537.2m204.0m219.0m373.2m310.8m

Accounts Receivable

1.9b2.0b2.2b2.0b1.8b2.0b1.8b1.6b1.9b2.1b2.2b2.5b2.8b3.1b

Current Assets

3.4b3.7b

Goodwill

824.3m828.8m833.9m1.1b1.1b1.1b1.1b1.1b1.1b1.8b1.8b1.8b1.9b1.8b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

148.3m200.0m109.6m57.5m159.2m

Depreciation and Amortization

83.1m141.7m203.7m

Inventories

Accounts Payable

(6.4m)(29.2m)(33.2m)75.8m194.5m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Net Income

43.8m36.1m42.8m73.9m20.0m79.2m152.8m20.0m45.8m87.0m23.2m35.1m49.3m88.8m

Depreciation and Amortization

22.3m23.1m46.0m49.2m50.2m100.8m

Accounts Payable

699.0m658.4m525.3m596.5m518.9m451.8m553.5m711.1m674.1m133.7m220.9m

Cash From Operating Activities

85.2m(77.9m)
USDY, 2018

EV/EBIT

54.4 x

EV/CFO

-126.8 x

Financial Leverage

3.9 x
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WEX Operating Metrics

FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Average Number of Vehicles Serviced

8.05 m9.27 m9.80 m9.73 m9.58 m9.52 m9.64 m10.34 m10 m10.57 m10.86 m

Customers (Health and Employee Benefit Solutions)

12 m17 m

Transactions

311.29 m81.93 m86.70 m89.58 m342.98 m89.10 m94.16 m102.95 m385.86 m102.77 m108.13 m

Vehicles Serviced

9.20 m9.40 m10.50 m
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WEX Revenue Breakdown

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WEX revenue breakdown by business segment: 15.8% from Health and Employee Benefit Solutions, 21.1% from Travel and Corporate Solutions and 63.0% from Fleet Solutions

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WEX Online and Social Media Presence

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WEX Company Life and Culture

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