What is WEX's gross margin?

WEX (WEX) reported gross margin of 58.8% in Q1 2026.

How has WEX's gross margin changed year-over-year?

WEX's gross margin decreased by 2.2% year-over-year, from 60.2% to 58.8%.

What is the long-term trend for WEX's gross margin?

Over 5 years (2020 to 2025), WEX's gross margin has grown at a 0.6% compound annual growth rate (CAGR), from 56.8% to 58.6%.

What does gross margin mean?

Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

WEX WEX Gross margin

Gross margin at other companies

HQY

HealthEquityHQY

70.7%+5.2pp

Fidelity National Information ServicesFIS

36.4%-0.7pp

Global PaymentsGPN

67.3%-6.4pp

ACI WorldwideACIW

49%-2.3pp

Paycom SoftwarePAYC

83.4%+1.2pp

Henry (Jack) & AssociatesJKHY

44.1%+2.0pp

Other financials

Income statement

See full

Revenue$673.8M+5.8%

Gross profit$393.7M+7.4%

Operating income$158.2M+0.6%

Net income$77.7M+8.7%

EPS (diluted)$2.22+22.7%

Balance sheet

See full

Cash & equivalents$1.2B-2.9%

Total debt$5.2B-6.2%

Total equity$1.3B+57.3%

Total assets$15.4B+10.5%

Cash flow

See full

Operating cash flow-$330.8M+31.3%

CapEx$37.5M+15.0%

Free cash flow-$368.3M+28.4%

Valuation

See full

Market cap$4.42B-13.8%

Enterprise value$8.42B-11.1%

P/E14.2×-2.0×

P/S1.6×-0.3×

Profitability

See full

Operating margin24.6%-1.4pp

Net margin11.5%-0.6pp

FCF margin17%+16.8pp

Returns & leverage

See full

Return on equity29.8%+5.4pp

Debt / equity4.1×-2.8×

Current ratio1×0.0×

Where this comes from

Calculated from WEX’s reported figures.

gross profit/total revenue=58.8%

Based on trailing twelve months.

The official record: WEX’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

Ask your AI about WEX's gross margin.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is WEX's gross margin?: WEX (WEX) reported gross margin of 58.8% in Q1 2026.
How has WEX's gross margin changed year-over-year?: WEX's gross margin decreased by 2.2% year-over-year, from 60.2% to 58.8%.
What is the long-term trend for WEX's gross margin?: Over 5 years (2020 to 2025), WEX's gross margin has grown at a 0.6% compound annual growth rate (CAGR), from 56.8% to 58.6%.
What does gross margin mean?: Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.