Intrinsic value of WEX - WEX

Previous Close

$146.72

  Intrinsic Value

$127.95

stock screener

  Rating & Target

hold

-13%

Previous close

$146.72

 
Intrinsic value

$127.95

 
Up/down potential

-13%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of WEX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  19.06
  12.50
  11.75
  11.08
  10.47
  9.92
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.35
  7.12
  6.91
  6.72
  6.54
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.44
  5.39
  5.35
Revenue, $m
  1,018
  1,145
  1,280
  1,422
  1,570
  1,726
  1,889
  2,059
  2,235
  2,419
  2,611
  2,809
  3,016
  3,231
  3,454
  3,686
  3,927
  4,178
  4,439
  4,711
  4,994
  5,290
  5,597
  5,919
  6,254
  6,604
  6,970
  7,352
  7,752
  8,170
  8,607
Variable operating expenses, $m
 
  815
  890
  968
  1,050
  1,136
  1,225
  1,319
  1,417
  1,518
  1,623
  1,549
  1,663
  1,782
  1,905
  2,033
  2,166
  2,304
  2,448
  2,598
  2,754
  2,917
  3,087
  3,264
  3,449
  3,642
  3,843
  4,054
  4,275
  4,505
  4,746
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  823
  815
  890
  968
  1,050
  1,136
  1,225
  1,319
  1,417
  1,518
  1,623
  1,549
  1,663
  1,782
  1,905
  2,033
  2,166
  2,304
  2,448
  2,598
  2,754
  2,917
  3,087
  3,264
  3,449
  3,642
  3,843
  4,054
  4,275
  4,505
  4,746
Operating income, $m
  195
  330
  390
  454
  521
  590
  663
  740
  819
  901
  987
  1,260
  1,353
  1,449
  1,549
  1,653
  1,761
  1,874
  1,991
  2,113
  2,240
  2,373
  2,511
  2,655
  2,805
  2,962
  3,126
  3,298
  3,477
  3,665
  3,861
EBITDA, $m
  337
  579
  647
  719
  794
  873
  955
  1,041
  1,130
  1,223
  1,320
  1,420
  1,525
  1,633
  1,746
  1,863
  1,985
  2,112
  2,244
  2,382
  2,525
  2,674
  2,830
  2,992
  3,162
  3,339
  3,523
  3,717
  3,919
  4,130
  4,351
Interest expense (income), $m
  116
  150
  189
  229
  272
  317
  364
  413
  464
  517
  573
  630
  690
  752
  817
  884
  954
  1,027
  1,102
  1,181
  1,263
  1,348
  1,437
  1,530
  1,626
  1,727
  1,833
  1,943
  2,058
  2,178
  2,304
Earnings before tax, $m
  87
  180
  201
  224
  249
  274
  300
  327
  355
  384
  415
  630
  663
  697
  732
  769
  808
  847
  889
  932
  978
  1,025
  1,074
  1,125
  1,179
  1,235
  1,294
  1,355
  1,419
  1,486
  1,557
Tax expense, $m
  30
  49
  54
  61
  67
  74
  81
  88
  96
  104
  112
  170
  179
  188
  198
  208
  218
  229
  240
  252
  264
  277
  290
  304
  318
  333
  349
  366
  383
  401
  420
Net income, $m
  61
  131
  147
  164
  181
  200
  219
  239
  259
  281
  303
  460
  484
  509
  535
  562
  590
  619
  649
  681
  714
  748
  784
  821
  861
  902
  944
  989
  1,036
  1,085
  1,136

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  191
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,997
  6,544
  7,313
  8,123
  8,973
  9,864
  10,794
  11,764
  12,774
  13,825
  14,918
  16,054
  17,234
  18,461
  19,736
  21,062
  22,440
  23,874
  25,366
  26,920
  28,539
  30,226
  31,985
  33,821
  35,736
  37,737
  39,827
  42,011
  44,295
  46,684
  49,183
Adjusted assets (=assets-cash), $m
  5,806
  6,544
  7,313
  8,123
  8,973
  9,864
  10,794
  11,764
  12,774
  13,825
  14,918
  16,054
  17,234
  18,461
  19,736
  21,062
  22,440
  23,874
  25,366
  26,920
  28,539
  30,226
  31,985
  33,821
  35,736
  37,737
  39,827
  42,011
  44,295
  46,684
  49,183
Revenue / Adjusted assets
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
Average production assets, $m
  1,022
  1,149
  1,284
  1,426
  1,575
  1,731
  1,895
  2,065
  2,242
  2,427
  2,618
  2,818
  3,025
  3,240
  3,464
  3,697
  3,939
  4,190
  4,452
  4,725
  5,009
  5,305
  5,614
  5,936
  6,273
  6,624
  6,991
  7,374
  7,775
  8,194
  8,633
Working capital, $m
  0
  -215
  -241
  -267
  -295
  -325
  -355
  -387
  -420
  -455
  -491
  -528
  -567
  -607
  -649
  -693
  -738
  -785
  -835
  -886
  -939
  -994
  -1,052
  -1,113
  -1,176
  -1,242
  -1,310
  -1,382
  -1,457
  -1,536
  -1,618
Total debt, $m
  2,205
  2,777
  3,373
  4,000
  4,659
  5,349
  6,070
  6,822
  7,605
  8,419
  9,266
  10,147
  11,062
  12,012
  13,001
  14,028
  15,096
  16,207
  17,364
  18,568
  19,822
  21,130
  22,493
  23,916
  25,401
  26,951
  28,571
  30,264
  32,034
  33,885
  35,822
Total liabilities, $m
  4,500
  5,072
  5,668
  6,295
  6,954
  7,644
  8,365
  9,117
  9,900
  10,714
  11,561
  12,442
  13,357
  14,307
  15,296
  16,323
  17,391
  18,502
  19,659
  20,863
  22,117
  23,425
  24,788
  26,211
  27,696
  29,246
  30,866
  32,559
  34,329
  36,180
  38,117
Total equity, $m
  1,497
  1,472
  1,645
  1,828
  2,019
  2,219
  2,429
  2,647
  2,874
  3,111
  3,357
  3,612
  3,878
  4,154
  4,441
  4,739
  5,049
  5,372
  5,707
  6,057
  6,421
  6,801
  7,197
  7,610
  8,041
  8,491
  8,961
  9,453
  9,966
  10,504
  11,066
Total liabilities and equity, $m
  5,997
  6,544
  7,313
  8,123
  8,973
  9,863
  10,794
  11,764
  12,774
  13,825
  14,918
  16,054
  17,235
  18,461
  19,737
  21,062
  22,440
  23,874
  25,366
  26,920
  28,538
  30,226
  31,985
  33,821
  35,737
  37,737
  39,827
  42,012
  44,295
  46,684
  49,183
Debt-to-equity ratio
  1.473
  1.890
  2.050
  2.190
  2.310
  2.410
  2.500
  2.580
  2.650
  2.710
  2.760
  2.810
  2.850
  2.890
  2.930
  2.960
  2.990
  3.020
  3.040
  3.070
  3.090
  3.110
  3.130
  3.140
  3.160
  3.170
  3.190
  3.200
  3.210
  3.230
  3.240
Adjusted equity ratio
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225
  0.225

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  61
  131
  147
  164
  181
  200
  219
  239
  259
  281
  303
  460
  484
  509
  535
  562
  590
  619
  649
  681
  714
  748
  784
  821
  861
  902
  944
  989
  1,036
  1,085
  1,136
Depreciation, amort., depletion, $m
  142
  249
  257
  265
  273
  282
  291
  301
  311
  322
  333
  160
  172
  184
  197
  210
  224
  238
  253
  268
  285
  301
  319
  337
  356
  376
  397
  419
  442
  466
  491
Funds from operations, $m
  -593
  380
  404
  429
  455
  482
  510
  540
  570
  602
  635
  620
  656
  693
  731
  772
  813
  857
  902
  949
  998
  1,049
  1,103
  1,159
  1,217
  1,278
  1,342
  1,408
  1,478
  1,551
  1,627
Change in working capital, $m
  -442
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -37
  -39
  -40
  -42
  -44
  -45
  -47
  -49
  -51
  -53
  -56
  -58
  -60
  -63
  -66
  -69
  -72
  -75
  -79
  -82
Cash from operations, $m
  -151
  404
  429
  455
  483
  511
  541
  572
  604
  637
  671
  657
  695
  733
  773
  815
  859
  904
  951
  1,000
  1,051
  1,105
  1,161
  1,219
  1,280
  1,344
  1,410
  1,480
  1,553
  1,629
  1,709
Maintenance CAPEX, $m
  0
  -58
  -65
  -73
  -81
  -89
  -98
  -108
  -117
  -127
  -138
  -149
  -160
  -172
  -184
  -197
  -210
  -224
  -238
  -253
  -268
  -285
  -301
  -319
  -337
  -356
  -376
  -397
  -419
  -442
  -466
New CAPEX, $m
  -66
  -127
  -135
  -142
  -149
  -156
  -163
  -170
  -177
  -184
  -192
  -199
  -207
  -215
  -224
  -233
  -242
  -252
  -262
  -273
  -284
  -296
  -309
  -322
  -336
  -351
  -367
  -383
  -401
  -419
  -439
Cash from investing activities, $m
  -1,160
  -185
  -200
  -215
  -230
  -245
  -261
  -278
  -294
  -311
  -330
  -348
  -367
  -387
  -408
  -430
  -452
  -476
  -500
  -526
  -552
  -581
  -610
  -641
  -673
  -707
  -743
  -780
  -820
  -861
  -905
Free cash flow, $m
  -1,311
  219
  229
  240
  252
  265
  279
  294
  309
  325
  342
  309
  327
  346
  366
  386
  407
  428
  451
  475
  499
  524
  551
  578
  606
  636
  667
  699
  733
  768
  805
Issuance/(repayment) of debt, $m
  969
  572
  596
  628
  659
  690
  721
  752
  783
  815
  847
  880
  915
  951
  988
  1,027
  1,068
  1,111
  1,157
  1,204
  1,255
  1,308
  1,363
  1,423
  1,485
  1,550
  1,620
  1,693
  1,770
  1,851
  1,937
Issuance/(repurchase) of shares, $m
  -2
  35
  26
  18
  10
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,216
  607
  622
  646
  669
  691
  721
  752
  783
  815
  847
  880
  915
  951
  988
  1,027
  1,068
  1,111
  1,157
  1,204
  1,255
  1,308
  1,363
  1,423
  1,485
  1,550
  1,620
  1,693
  1,770
  1,851
  1,937
Total cash flow (excl. dividends), $m
  -89
  826
  851
  886
  921
  956
  1,000
  1,045
  1,092
  1,139
  1,189
  1,190
  1,242
  1,297
  1,354
  1,413
  1,475
  1,540
  1,608
  1,679
  1,753
  1,832
  1,914
  2,000
  2,091
  2,187
  2,287
  2,392
  2,503
  2,619
  2,742
Retained Cash Flow (-), $m
  -414
  -166
  -173
  -182
  -191
  -200
  -209
  -218
  -227
  -236
  -246
  -256
  -266
  -276
  -287
  -298
  -310
  -323
  -336
  -350
  -364
  -380
  -396
  -413
  -431
  -450
  -470
  -491
  -514
  -537
  -562
Prev. year cash balance distribution, $m
 
  191
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  851
  678
  704
  730
  756
  791
  827
  865
  903
  943
  934
  977
  1,021
  1,067
  1,115
  1,165
  1,217
  1,272
  1,329
  1,389
  1,452
  1,518
  1,587
  1,660
  1,736
  1,817
  1,901
  1,989
  2,082
  2,179
Discount rate, %
 
  8.90
  9.35
  9.81
  10.30
  10.82
  11.36
  11.93
  12.52
  13.15
  13.81
  14.50
  15.22
  15.98
  16.78
  17.62
  18.50
  19.43
  20.40
  21.42
  22.49
  23.61
  24.80
  26.03
  27.34
  28.70
  30.14
  31.65
  33.23
  34.89
  36.63
PV of cash for distribution, $m
 
  781
  567
  532
  493
  452
  415
  376
  336
  297
  259
  211
  178
  149
  122
  98
  77
  60
  45
  33
  24
  17
  12
  8
  5
  3
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  100
  99.4
  98.9
  98.7
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6
  98.6

WEX Inc. is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets. The Travel and Corporate Solutions segment focuses on the complex payment environment of business-to-business payments, providing customers with payment processing solutions for their corporate payment and transaction monitoring needs. The Health and Employee Benefit Solutions segment provides healthcare payment products and software as a service consumer directed platforms, as well as payroll related benefits to customers in Brazil. The United States operations include the Company and its subsidiaries WEX Bank, WEX FleetOne, Electronic Funds Source LLC and WEX Health.

FINANCIAL RATIOS  of  WEX (WEX)

Valuation Ratios
P/E Ratio 103
Price to Sales 6.2
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow -41.6
Price to Free Cash Flow -29
Growth Rates
Sales Growth Rate 19.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 4.8%
Cap. Spend. - 3 Yr. Gr. Rate 11.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 147.3%
Total Debt to Equity 147.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 2.8%
Ret/ On Assets - 3 Yr. Avg. 4%
Return On Total Capital 2%
Ret/ On T. Cap. - 3 Yr. Avg. 5.5%
Return On Equity 4.7%
Return On Equity - 3 Yr. Avg. 11.6%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 51.7%
Gross Margin - 3 Yr. Avg. 54%
EBITDA Margin 33.9%
EBITDA Margin - 3 Yr. Avg. 40.6%
Operating Margin 19.2%
Oper. Margin - 3 Yr. Avg. 27.8%
Pre-Tax Margin 8.5%
Pre-Tax Margin - 3 Yr. Avg. 22.4%
Net Profit Margin 6%
Net Profit Margin - 3 Yr. Avg. 14.2%
Effective Tax Rate 34.5%
Eff/ Tax Rate - 3 Yr. Avg. 36.3%
Payout Ratio 0%

WEX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WEX stock intrinsic value calculation we used $1018 million for the last fiscal year's total revenue generated by WEX. The default revenue input number comes from 2016 income statement of WEX. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WEX stock valuation model: a) initial revenue growth rate of 12.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.9%, whose default value for WEX is calculated based on our internal credit rating of WEX, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of WEX.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WEX stock the variable cost ratio is equal to 73.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for WEX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.8% for WEX.

Corporate tax rate of 27% is the nominal tax rate for WEX. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WEX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WEX are equal to 100.3%.

Life of production assets of 17.6 years is the average useful life of capital assets used in WEX operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WEX is equal to -18.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1497 million for WEX - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 42.838 million for WEX is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of WEX at the current share price and the inputted number of shares is $6.3 billion.

RELATED COMPANIES Price Int.Val. Rating
V VISA Cl A 122.70 84.06  sell
MA Mastercard 166.83 178.66  hold
FLT FleetCor Techn 206.65 231.12  buy
FIS Fidelity Natio 98.47 60.01  sell
GPN Global Payment 108.01 34.06  str.sell
VNTV Vantiv 77.60 77.29  hold
CASS Cass Informati 58.12 70.62  buy

COMPANY NEWS

▶ WEX Inc. Completes Term Loan Repricing   [Jan-17-18 04:24PM  Business Wire]
▶ WEX Inc. Announces Plans for Potential Debt Repricing   [Jan-05-18 06:30AM  Business Wire]
▶ Stocks With Rising Composite Ratings: WEX   [Dec-26-17 03:00AM  Investor's Business Daily]
▶ WEX Clears Technical Benchmark, Hitting 80-Plus RS Rating   [Dec-06-17 03:00AM  Investor's Business Daily]
▶ WEX Announces Fleet Card Contract with Verizon   [Dec-05-17 06:30AM  Business Wire]
▶ Stocks To Watch: WEX Sees Relative Strength Rating Jump To 82   [Nov-08-17 03:00AM  Investor's Business Daily]
▶ Wex tops Street 3Q forecasts   [Nov-01-17 06:49AM  Associated Press]
▶ WEX Getting Closer To Key Technical Measure   [03:00AM  Investor's Business Daily]
▶ 2 U.S. Picks As Europe Outsources Gasoline Cards   [Oct-10-17 06:40PM  Barrons.com]
▶ EFS Launches New Mobile Technology for Fleet Managers   [Sep-18-17 06:45AM  Business Wire]
▶ WEX, Inc. Value Analysis (NYSE:WEX) : September 1, 2017   [Aug-31-17 11:18PM  Capital Cube]
▶ Stay Positive On FinTech Stocks   [Aug-30-17 02:10PM  Barrons.com]
▶ Insiders Roundup: Facebook, PRA Health Sciences   [Aug-18-17 04:09PM  GuruFocus.com]
▶ ETFs with exposure to WEX, Inc. : August 8, 2017   [Aug-08-17 05:27PM  Capital Cube]
▶ Wex tops Street 2Q forecasts   [Jul-27-17 02:56PM  Associated Press]
▶ 7 of the Worst-Performing Stocks in Gurus' Portfolios   [Jul-07-17 05:44PM  GuruFocus.com]
▶ WEX Inc. Completes Successful Term Loan Repricing   [Jul-03-17 11:31AM  Business Wire]
▶ ETFs with exposure to WEX, Inc. : June 28, 2017   [Jun-28-17 03:09PM  Capital Cube]
▶ WEX Survey Reveals CFOs Thoughts on Future of Payments   [Jun-22-17 06:45AM  Business Wire]
▶ WEX Inc. and GasBuddy Form Strategic Alliance   [Jun-14-17 07:30AM  Business Wire]
▶ WEX Inc. Announces Plans for Potential Debt Repricing   [Jun-12-17 06:30AM  Business Wire]
▶ WEX Named Great Place to Work   [Jun-08-17 07:30AM  Business Wire]
▶ EFS Launches New Mobile Technology for Drivers   [Jun-06-17 07:00AM  Business Wire]
▶ WEX Motopass Fuel Card launches new Online Service Centre   [May-17-17 04:45PM  Business Wire]
▶ WEX, Inc. Value Analysis (NYSE:WEX) : April 27, 2017   [Apr-27-17 05:22PM  Capital Cube]
▶ Wex beats Street 1Q forecasts   [07:52AM  Associated Press]
▶ EFS Expands Relationship with Pilot Flying J   [06:50AM  Business Wire]
▶ Knight Transportation Extends Relationship with EFS   [Apr-04-17 07:30AM  Business Wire]
▶ WEX Expands Asian Virtual Payments Solution to Singapore   [Apr-02-17 04:30PM  Business Wire]
▶ WEX Health Strengthens Position as an Industry Leader   [Mar-23-17 04:20PM  Business Wire]
Financial statements of WEX
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