WEX Inc.

WEXNYSETechnology● Active

$147.55

$-0.66(-0.45%)

Market Cap$5.1B

P/E Ratio—

52W High$186.86

52W Low$132.35

Avg Volume548K

Open$147.64

Beta0.85

Free Cash Flow Financials Revenue

WEX Inc. (WEX) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

WEX · free cash flow · updated Jun 9, 2026

Core FCF metrics

WEX · FCF · TTM · margin & CAGR

Free cash flow was $313.7M for FY2025 (fiscal year ending 2025-12-31), down 6.1% year-over-year The FCF margin was 11.8%. Five-year CAGR stands at -16.6%.

FY2025 Free Cash Flow$313.7M▼ -6.1% YoY

Trailing 12M (TTM)$459.6Mtrailing 4 quarters sum

FCF Margin11.8%$313.7M ÷ revenue

3-Year CAGR-17.7%FY2022 → FY2025

5-Year CAGR-16.6%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

WEX · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$454.3M(141M)$313.7M▼ 6.1%11.8%

FY2024$481.4M(147M)$334.1M▼ 56.3%12.7%

FY2023$907.9M(144M)$763.9M▲ +35.6%30.0%

FY2022$679.4M(116M)$563.2M▲ +775.1%24.0%

FY2021$150.4M(86M)$64.4M▼ 91.7%3.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

WEX · P/FCF · FCF yield · FCF per share

WEX Inc. (WEX) trades at a FCF yield of 8.98% and a price-to-free-cash-flow ratio of 11.4x. FCF per share stands at $12.95, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.98%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$12.95

TTM FCF ÷ Shares Outstanding

Price / FCF

x11.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x21.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

WEX · cash flow statement · operating / investing / financing

For FY2025, WEX Inc. generated $454.3M in operating cash flow and spent 141M in capital expenditures, yielding $313.7M in free cash flow.

Operating Activities

+$454.3M

Cash from core business operations

2025-12-31

Investing Activities

−$696.9M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$418.9M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($454.3M) − |CapEx| (141M) = FCF ($313.7M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

WEX vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

WEX Inc.YOU

WEX

$313.7M-6.1%11.8%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

WEX Inc. (WEX) reported free cash flow of $313.7M for FY2025 (fiscal year ending 2025-12-31), down 6.1% year-over-year. The FCF margin was 11.8%.

Based on available data, WEX Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $776.5M in FY2020. The 5-year CAGR stands at -16.6%.

WEX Inc.'s FCF yield is 8.98% and price-to-FCF ratio is 11.4x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

WEX free cash flow · 8 questions

WEX Inc. free cash flow was $313.7M for FY2025, down 6.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $459.6M.

WEX free cash flowWEX FCFWEX FCF 2025WEX free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · WEX Inc. · WEX Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026