WEX WEX Business Segments
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax by Business | |||||
| Benefits | $797.4M+7.8% | $739.5M+10.6% | $668.4M+32.5% | $504.5M+21.8% | |
| Corporate Payments | $477.5M-2.1% | $487.8M-1.8% | $496.9M+23.5% | $402.4M+23.9% | |
| Mobility | $1.39B-1.1% | $1.4B+1.3% | $1.38B-4.2% | $1.44B+29.9% | |
| Non-Topic 606 revenues by Business | |||||
| Benefits | $196.4M+17.8% | $166.7M+52.4% | $109.4M+219% | $34.3M+1,125% | |
| Corporate Payments | $18.3M-34.4% | $27.9M+4.1% | $26.8M+406% | $5.3M+76.7% | |
| Mobility | $600.7M+6.1% | $566.4M-1.2% | $573.3M-7.7% | $621.2M+24.5% | |
| Segment adjusted operating income by Business | |||||
| Benefits | $341.6M— | —— | $241.8M— | —— | |
| Corporate Payments | $213.3M— | —— | $277.2M— | —— | |
| Mobility | $541.1M— | —— | $599.4M— | —— | |
| Other by Business | |||||
| Benefits | $100K— | $0— | $0— | —— | |
| Corporate Payments | $0— | $0— | $0— | —— | |
| Mobility | $20.8M+1.5% | $20.5M-25.7% | $27.6M— | —— | |
| Interest Income by Business | |||||
| Benefits | $196.2M+20.1% | $163.3M+49.7% | $109.1M+239% | $32.2M+1,093% | |
| Corporate Payments | $13M-42.7% | $22.7M+5.1% | $21.6M+1,562% | $1.3M— | |
| Mobility | $15.2M+12.6% | $13.5M-22.9% | $17.5M+169% | $6.5M+261% | |
| Sales and marketing expense, adjusted by Business | |||||
| Benefits | $54.4M+1.9% | $53.4M+0.2% | $53.3M+14.6% | $46.5M— | |
| Corporate Payments | $71.8M+26.2% | $56.9M+8.2% | $52.6M+0.2% | $52.5M— | |
| Mobility | $240.3M+15.3% | $208.4M+4.2% | $200M+3.5% | $193.2M— | |
| Service fees by Business | |||||
| Benefits | $77.7M+19.7% | $64.9M+22.5% | $53M+21.6% | $43.6M— | |
| Corporate Payments | $10.7M-8.5% | $11.7M-7.1% | $12.6M-4.5% | $13.2M— | |
| Mobility | $7.5M+4.2% | $7.2M-5.3% | $7.6M-9.5% | $8.4M— | |
| General and administrative expense, adjusted by Business | |||||
| Benefits | $21.4M-16.4% | $25.6M-37.3% | $40.8M+24.8% | $32.7M— | |
| Corporate Payments | $40.5M-15.6% | $48M-19.6% | $59.7M+12.6% | $53M— | |
| Mobility | $98.9M-5.1% | $104.2M-5.0% | $109.7M+24.4% | $88.2M— | |
| Operating interest by Business | |||||
| Benefits | $5.2M— | —— | $5.3M+489% | $900K+800% | |
| Corporate Payments | $19.7M— | —— | $9.4M+62.1% | $5.8M+152% | |
| Mobility | $84.1M— | —— | $69.5M+400% | $13.9M+104% | |
| Foreign currency translation by Business | |||||
| Benefits | $0— | $0— | $0— | $0— | |
| Corporate Payments | $25.1M+215% | -$21.8M-369% | $8.1M+131% | -$25.9M— | |
| Mobility | $6.8M+181% | -$8.4M-4,100% | -$200K+98.8% | -$16.7M— | |
| Processing costs, adjusted by Business | |||||
| Benefits | $260.1M+2.8% | $253.1M+5.6% | $239.6M+9.0% | $219.9M— | |
| Corporate Payments | $70M+2.3% | $68.4M-3.1% | $70.6M+11.2% | $63.5M— | |
| Mobility | $289M+3.6% | $278.9M+3.9% | $268.4M+17.3% | $228.9M— | |
| Accounts Receivable, Allowance for Credit Loss, Writeoff by Business | |||||
| Benefits | $5.6M+2,700% | $200K+100% | $100K— | —— | |
| Corporate Payments | $5.5M+66.7% | $3.3M+26.9% | $2.6M— | —— | |
| Mobility | $94.5M-13.6% | $109.4M-29.4% | $155M— | —— | |
| Accounts Receivable, Allowance for Credit Loss by Business | |||||
| Benefits | $16.5M-48.9% | $32.3M— | —— | —— | |
| Corporate Payments | $84.4M+87.1% | $45.1M— | —— | —— | |
| Mobility | $223.3M-13.4% | $257.9M— | —— | —— | |
| Currency translation by Business | |||||
| Benefits | $0— | $0— | $0— | —— | |
| Corporate Payments | $900K+400% | -$300K-250% | $200K— | —— | |
| Mobility | $700K+240% | -$500K-350% | $200K— | —— | |
| Depreciation by Business | |||||
| Benefits | $37.7M+19.7% | $31.5M+15.8% | $27.2M+2.6% | $26.5M+5.6% | |
| Corporate Payments | $35.8M+22.6% | $29.2M+49.7% | $19.5M+28.3% | $15.2M+7.8% | |
| Mobility | $61.7M+16.4% | $53M+29.6% | $40.9M-8.9% | $44.9M-5.5% | |
| Recoveries of amounts previously charged-off by Business | |||||
| Benefits | $300K0.0% | $300K— | $0— | $0— | |
| Corporate Payments | $0— | $0-100% | $1.9M— | $0— | |
| Mobility | $11M-9.1% | $12.1M-33.9% | $18.3M+43.0% | $12.8M— | |
| Measurement period adjustments by Business | |||||
| Benefits | $0-100% | $900K— | —— | —— | |
| Corporate Payments | $0— | $0— | —— | —— | |
| Mobility | $0+100% | -$3M— | —— | —— | |
| Provision for Credit Losses by Business | |||||
| Corporate Payments | $15.5M+101% | $7.7M+264% | -$4.7M— | —— | |
| Mobility | $63.4M+3.9% | $61M-30.0% | $87.1M-49.6% | $172.7M— | |
| Total revenues (revenues from external customers) by Product | |||||
| Account servicing revenue | $726M+5.1% | $690.6M+6.8% | $646.4M+13.6% | $569.2M+8.0% | |
| Finance fee revenue | $321.3M+7.7% | $298.2M-5.1% | $314.2M-12.8% | $360.5M+41.2% | |
| Payment processing revenue | $1.14B-4.8% | $1.2B-1.1% | $1.21B+5.0% | $1.16B+34.6% | |
| Total revenues by Geography | |||||
| Other international | $325M-4.0% | $338.7M-4.4% | $354.2M+22.8% | $288.5M— | |
| United States | $2.34B+2.0% | $2.29B+4.4% | $2.19B+6.4% | $2.06B+25.5% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does WEX break its business down?
- WEX (WEX) reports revenue from contract with customer, excluding assessed tax by business across 3 parts — Benefits, Corporate Payments and Mobility. Each is extracted from the segment footnotes and tracked over time.
- Where does WEX's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in WEX's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.