What is WEX's operating margin?

WEX (WEX) reported operating margin of 24.6% in Q1 2026.

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

WEX's operating margin decreased by 5.2% year-over-year, from 26% to 24.6%.

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

Over 5 years (2020 to 2025), WEX's operating margin has grown at a 33.5% compound annual growth rate (CAGR), from -5.9% to 25%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

WEX WEX Operating margin

Operating margin at other companies

CorpayCPAY

46.1%+1.1pp

HQY

HealthEquityHQY

25.6%+9.2pp

Fidelity National Information ServicesFIS

15.9%-0.8pp

Global PaymentsGPN

15.3%-10.4pp

ACI WorldwideACIW

18.4%-3.0pp

Paycom SoftwarePAYC

28.3%+0.4pp

Other financials

Income statement

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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

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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

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Operating cash flow-$330.8M+31.3%

CapEx$37.5M+15.0%

Free cash flow-$368.3M+28.4%

Valuation

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Market cap$4.42B-13.8%

Enterprise value$8.42B-11.1%

P/E14.2×-2.0×

P/S1.6×-0.3×

Profitability

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Gross margin58.8%-1.3pp

Net margin11.5%-0.6pp

FCF margin17%+16.8pp

Returns & leverage

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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.

operating income/total revenue=24.6%

Based on trailing twelve months.

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

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Questions, answered.

What is WEX's operating margin?: WEX (WEX) reported operating margin of 24.6% in Q1 2026.
How has WEX's operating margin changed year-over-year?: WEX's operating margin decreased by 5.2% year-over-year, from 26% to 24.6%.
What is the long-term trend for WEX's operating margin?: Over 5 years (2020 to 2025), WEX's operating margin has grown at a 33.5% compound annual growth rate (CAGR), from -5.9% to 25%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.