OverviewSuggest Edit

WEX provides corporate card payment solutions. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services. The Travel and Corporate Solutions segment provides payment processing solutions for corporate payment and transaction monitoring needs. The Health and Employee Benefit Solutions segment offers healthcare payment products and software-as-a-service consumer directed platforms for healthcare market, as well as payroll related and employee benefit products.

TypePublic
Founded1983
HQSouth Portland, US
Websitewexinc.com
Employee Ratings3.3

Latest Updates

Employees (est.) (Feb 2019)3,500(+35%)
Job Openings177
Revenue (FY, 2017)$1.3 B(+23%)
Share Price (Mar 2019)$181.3

Key People/Management at WEX

David Cooper

David Cooper

CTO
Tiffany Wirth

Tiffany Wirth

VP of Marketing
Paul Pearson

Paul Pearson

Director of IT Operations
Jeff Bakke

Jeff Bakke

Chief Strategy Officer
Jeff Young

Jeff Young

President of Health
Roberto Simon

Roberto Simon

CFO
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WEX Office Locations

WEX has offices in South Portland, Rome, Chanhassen, Cordova and in 19 other locations
South Portland, US (HQ)
225 Gorham Rd
South Portland, US (HQ)
97 Darling Ave
Chanhassen, US
8170 Upland Cir #100
Cordova, US
7130 Goodlett Farms Pkwy #100
Cottonwood Heights, US
7090 Union Park Center #350
Edina, US
5050 Lincoln Dr #100
Show all (29)
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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 (Q3, 2018)

382.7m

Net income (Q3, 2018)

57.3m

EBIT (Q3, 2018)

100.7m

Market capitalization (15-Mar-2019)

7.8b

Closing stock price (15-Mar-2019)

181.3

Cash (30-Sep-2018)

533.4m

EV

9.4b
WEX's current market capitalization is $7.8 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

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

Revenue growth, %

14%5%19%

Sales and marketing expense

4.5m5.6m

General and administrative expense

20.6m25.8m27.7m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

191.5m182.1m201.6m222.1m202.3m213.7m226.1m205.9m233.9m287.8m291.4m303.9m324.0m354.8m370.9m382.7m

Sales and marketing expense

56.5m57.7m54.6m

General and administrative expense

3.8m4.4m3.8m5.4m5.0m5.0m5.2m5.7m6.1m7.3m6.4m6.5m6.5m55.3m48.5m51.8m

Operating expense total

113.6m120.5m121.3m119.6m154.0m150.7m158.3m164.8m182.3m233.2m230.6m256.3m260.3m111.9m218.2m106.4m
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, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

391.2m354.8m319.0m576.7m511.0m184.3m533.6m515.3m317.8m537.2m204.0m219.0m251.1m373.2m310.8m533.4m

Accounts Receivable

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

Current Assets

3.4b3.7b3.9b

Goodwill

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

Net Income

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

Depreciation and Amortization

86.2m141.7m203.7m

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, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

43.8m36.1m78.9m73.9m20.0m46.4m88.2m23.2m35.1m87.0m29.1m35.1m79.6m49.3m88.8m146.1m

Depreciation and Amortization

15.6m31.4m43.7m65.2m23.0m46.9m46.0m49.2m150.4m50.2m100.8m148.9m

Accounts Payable

131.4m181.7m658.4m525.3m177.7m107.9m68.6m166.9m711.1m60.7m228.3m133.7m220.9m371.4m

Cash From Operating Activities

(77.8m)(173.4m)53.0m247.6m86.4m(56.8m)(59.2m)(45.7m)85.2m(77.9m)183.1m
USDY, 2018

EV/EBIT

93.6 x

EV/CFO

51.4 x

Debt/Equity

1.2 x

Debt/Assets

0.3 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 Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
Discovery BenefitsJanuary 21, 2019

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 Blogs

WEX to Celebrate Opening of New Global Headquarters in Portland, Maine, with Ribbon-Cutting Event

The new building will house the corporate office and serve as an innovation hub for the company’s global fleet, corporate payments and technology teams PORTLAND, Maine --(BUSINESS WIRE)--Mar. 8, 2019-- WEX (NYSE: WEX), a leading financial technology service provider, today celebrated the opening of

WEX Completes Acquisition of Discovery Benefits, Inc.

WEX Completes Acquisition of Discovery Benefits, Inc. Content Import Tue, 03/05/2019 - 16:09 WEX Completes Acquisition of Discovery Benefits, Inc. 03/05/19 This release is a backfill from a News Wire General SOUTH PORTLAND, Maine--(B…

WEX’s Health Division Strengthens Position as an Industry Leader

WEX’s Health Division Strengthens Position as an Industry Leader Content Import Mon, 03/04/2019 - 06:47 WEX’s Health Division Strengthens Position as an Industry Leader 03/04/19 This release is a backfill from a News Wire General FAR…

WEX Inc. Announces Preliminary Full-Year 2018 Financial Highlights and Anticipated Delay of Form 10-K Filing

SOUTH PORTLAND, Maine --(BUSINESS WIRE)--Feb. 22, 2019-- WEX Inc. (NYSE:WEX), announced today that it anticipates a delayed filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2018 . The Company plans to file a Form 12b-25, Notification of Late Filing, with the

WEX Enters Into Partnership with International Travel Technology Provider Juniper

WEX Enters Into Partnership with International Travel Technology Provider Juniper Content Import Tue, 02/12/2019 - 02:02 WEX Enters Into Partnership with International Travel Technology Provider Juniper 02/12/19 This release is a backfill from a News Wire …

WEX Completes Acquisition of Noventis

SOUTH PORTLAND, Maine --(BUSINESS WIRE)--Jan. 24, 2019-- WEX Inc. (NYSE:WEX), a leading provider of corporate payments solutions, today announced the completion of its previously announced acquisition of Noventis, an electronic payments network focused on optimizing payment delivery for bills and
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WEX Frequently Asked Questions

  • When was WEX founded?

    WEX was founded in 1983.

  • Who are WEX key executives?

    WEX's key executives are David Cooper, Tiffany Wirth and Paul Pearson.

  • How many employees does WEX have?

    WEX has 3,500 employees.

  • What is WEX revenue?

    Latest WEX annual revenue is $1.3 b.

  • What is WEX revenue per employee?

    Latest WEX revenue per employee is $357.3 k.

  • Who are WEX competitors?

    Competitors of WEX include Stripe, FleetCor and Worldpay.

  • Where is WEX headquarters?

    WEX headquarters is located at 225 Gorham Rd, South Portland.

  • Where are WEX offices?

    WEX has offices in South Portland, Rome, Chanhassen, Cordova and in 19 other locations.

  • How many offices does WEX have?

    WEX has 29 offices.