WEX Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.66B | $2.63B | $2.55B | $2.35B | $1.85B | $1.56B | $1.72B | $1.49B |
| Cost of Revenue | $1.10B | $1.04B | $973.3M | $930.5M | $702.1M | $673.2M | $659.8M | $547.9M |
| Gross Profit | $1.56B | $1.59B | $1.57B | $1.42B | $1.15B | $886.7M | $1.06B | $944.7M |
| Gross Margin | 58.6% | 60.5% | 61.8% | 60.4% | 62.1% | 56.8% | 61.7% | 63.3% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $330.2M | $375.8M | $428.0M | $343.9M | $326.9M | $292.1M | $275.8M | $209.3M |
| Operating Income | $663.9M | $686.3M | $647.1M | $469.8M | $342.0M | $-91.7M | $385.8M | $380.6M |
| Operating Margin | 25.0% | 26.1% | 25.4% | 20.0% | 18.5% | -5.9% | 22.4% | 25.5% |
| Interest Expense | — | — | — | $130.7M | $128.4M | $157.1M | $134.7M | $105.0M |
| Pretax Income | $420.2M | $417.8M | $368.8M | $260.5M | $203.9M | $-301.1M | $216.5M | $238.6M |
| Income Tax Expense | $116.1M | $108.2M | $102.2M | $93.1M | $67.8M | $-20.6M | $61.2M | $68.8M |
| Net Income | $304.1M | $309.6M | $266.6M | $167.2M | $135.3M | $-284.0M | $156.3M | $168.3M |
| Net Margin | 11.4% | 11.8% | 10.5% | 7.1% | 7.3% | -18.2% | 9.1% | 11.3% |
| EPS (Basic) | $8.57 | $7.59 | $6.23 | $4.54 | $0.00 | $-5.56 | $2.29 | $3.90 |
| EPS (Diluted) | $8.47 | $7.50 | $6.16 | $4.50 | $0.00 | $-5.56 | $2.26 | $3.86 |
| Shares Outstanding (Basic) | 35.5M | 40.8M | 42.8M | 44.4M | 44.7M | 43.8M | 43.3M | 43.2M |
| Shares Outstanding (Diluted) | 35.9M | 41.3M | 43.3M | 44.7M | 45.3M | 43.8M | 43.8M | 43.6M |
| Dividends Per Share | — | — | — | — | — | — | — | — |