WEX Inc. (WEX) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
1 HANCOCK STREET PORTLAND, ME 04101 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7389 - Business Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 4,361 | 3,998 | 2,317 | 1,538 | 862 | 819 | |||
| Cash and cash equivalent | 596 | 976 | 922 | 589 | 852 | 811 | |||
| Short-term investments | 3,765 | 3,022 | 1,395 | 949 | 10 | 8 | |||
| Restricted cash and investments | 170 | ||||||||
| Receivables | 110 | 129 | 143 | 125 | 93 | 112 | |||
| Contract with customer, asset, after allowance for credit loss | 5 | ||||||||
| Disposal group, including discontinued operation | 3 | ||||||||
| Debt securities, available-for-sale, amortized cost, excluding accrued interest, after allowance for credit loss | ✕ | ✕ | 3,102 | ✕ | ✕ | ||||
| Other undisclosed current assets | 4,042 | 1,706 | 4,357 | 3,637 | 2,548 | 2,736 | |||
| Total current assets: | 8,516 | 8,935 | 6,817 | 5,300 | 3,503 | 3,842 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 261 | 243 | 202 | 180 | 188 | 212 | |||
| Long-term investments and receivables | 81 | 67 | 48 | 40 | |||||
| Long-term investments | 81 | 67 | 48 | 40 | |||||
| Intangible assets, net (including goodwill) | 4,243 | 4,474 | 4,202 | 4,551 | 4,240 | 4,016 | |||
| Goodwill | 2,983 | 3,016 | 2,729 | 2,908 | 2,688 | 2,441 | |||
| Intangible assets, net (excluding goodwill) | 1,260 | 1,459 | 1,474 | 1,643 | 1,552 | 1,575 | |||
| Deferred income tax assets | 18 | 14 | 13 | 6 | 18 | 13 | |||
| Other noncurrent assets | 203 | 149 | 246 | 231 | 197 | 184 | |||
| Other undisclosed noncurrent assets | (0) | 37 | 30 | ||||||
| Total noncurrent assets: | 4,806 | 4,947 | 4,712 | 5,007 | 4,681 | 4,456 | |||
| TOTAL ASSETS: | 13,322 | 13,882 | 11,529 | 10,307 | 8,183 | 8,298 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Deferred revenue | 3,145 | 2,026 | 911 | 1,311 | |||||
| Debt | 1,293 | 1,041 | 203 | 156 | 153 | 249 | |||
| Other liabilities | 51 | 58 | 35 | ||||||
| Other undisclosed current liabilities | 7,034 | 7,478 | 2,947 | 2,167 | 1,618 | 1,456 | |||
| Total current liabilities: | 8,327 | 8,519 | 6,294 | 4,400 | 2,741 | 3,050 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 3,082 | 2,828 | 2,522 | 2,695 | 2,874 | ||||
| Long-term debt, excluding current maturities | 3,082 | 2,828 | 2,522 | 2,695 | 2,874 | ||||
| Liabilities, other than long-term debt | 423 | 651 | 1,063 | 1,119 | 533 | 469 | |||
| Deferred revenue | 334 | 652 | 149 | 143 | |||||
| Deferred income tax liabilities | 146 | 130 | 142 | 193 | 220 | 219 | |||
| Other liabilities | 278 | 456 | 587 | 274 | 165 | 106 | |||
| Operating lease, liability | 66 | ||||||||
| Other undisclosed noncurrent liabilities | 0 | 64 | 2,687 | ||||||
| Total noncurrent liabilities: | 3,506 | 3,542 | 3,586 | 3,814 | 3,407 | 3,155 | |||
| Total liabilities: | 11,833 | 12,062 | 9,880 | 8,214 | 6,148 | 6,205 | |||
| Temporary equity, including noncontrolling interest | 254 | 117 | 157 | ||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 1,489 | 1,821 | 1,650 | 1,839 | 1,905 | 1,927 | |||
| Common stock | 1 | 1 | 0 | 0 | 0 | 0 | |||
| Treasury stock, value | (1,416) | (761) | (463) | (172) | (172) | (172) | |||
| Additional paid in capital | 1,150 | 1,053 | 928 | 844 | 873 | 675 | |||
| Accumulated other comprehensive loss | (312) | (229) | (306) | (123) | (83) | (115) | |||
| Retained earnings | 2,067 | 1,757 | 1,491 | 1,289 | 1,287 | 1,539 | |||
| Other undisclosed equity, attributable to parent | 0 | ||||||||
| Equity, attributable to noncontrolling interest | 13 | 10 | |||||||
| Other undisclosed equity | |||||||||
| Total equity: | 1,489 | 1,821 | 1,650 | 1,839 | 1,918 | 1,937 | |||
| TOTAL LIABILITIES AND EQUITY: | 13,322 | 13,882 | 11,529 | 10,307 | 8,183 | 8,298 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,628 | 2,548 | 2,351 | 1,851 | 1,560 | 1,724 | ||
| Cost of revenue | (1,038) | (973) | (930) | (702) | (673) | (660) | ||
| Cost of product and service sold | (782) | (726) | (665) | (595) | (524) | (495) | ||
| Provision for loan, lease, and other losses | (68) | (90) | (180) | |||||
| Gross profit: | 1,590 | 1,575 | 1,420 | 1,148 | 887 | 1,064 | ||
| Operating expenses | (904) | (928) | (950) | (806) | (770) | (678) | ||
| Other undisclosed operating income (loss) | 0 | (209) | ||||||
| Operating income (loss): | 686 | 647 | 470 | 342 | (92) | 386 | ||
| Nonoperating income (expense) (Gain (Loss), Foreign Currency Transaction, before Tax) | (26) | 5 | (23) | (12) | (26) | (1) | ||
| Interest and debt expense | (70) | (131) | (128) | (157) | (1) | |||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (27) | (167) | ||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 660 | 582 | 316 | 201 | (301) | 217 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (242) | (213) | (56) | 3 | ||||
| Income (loss) from continuing operations before income taxes: | 418 | 369 | 261 | 204 | (301) | 217 | ||
| Income tax expense (benefit) | (108) | (102) | (93) | (68) | 21 | (61) | ||
| Income (loss) from continuing operations: | 310 | 267 | 167 | 136 | (280) | 155 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 136 | (280) | 155 | |
| Net income (loss): | 310 | 267 | 167 | 136 | (280) | 155 | ||
| Net income (loss) attributable to noncontrolling interest | (0) | (1) | (3) | 1 | ||||
| Other undisclosed net loss attributable to parent | ||||||||
| Net income (loss) attributable to parent: | 310 | 267 | 167 | 135 | (284) | 156 | ||
| Preferred stock dividends and other adjustments | 34 | (135) | 40 | (57) | ||||
| Net income (loss) available to common stockholders, diluted: | 310 | 267 | 201 | 0 | (244) | 99 | ||
Comprehensive Income ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 310 | 267 | 167 | 136 | (280) | 155 | ||
| Other comprehensive income (loss) | (83) | 77 | (184) | (38) | ||||
| Other undisclosed comprehensive income (loss) | 28 | 2 | ||||||
| Comprehensive income (loss): | 227 | 344 | (16) | 99 | (253) | 157 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (0) | (1) | (4) | 1 | ||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | ||||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 227 | 344 | (17) | 98 | (257) | 158 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.