Intrinsic value of WEX - WEX

Previous Close

$161.43

  Intrinsic Value

$221.47

stock screener

  Rating & Target

buy

+37%

Previous close

$161.43

 
Intrinsic value

$221.47

 
Up/down potential

+37%

 
Rating

buy

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

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  22.00
  20.30
  18.77
  17.39
  16.15
  15.04
  14.03
  13.13
  12.32
  11.59
  10.93
  10.33
  9.80
  9.32
  8.89
  8.50
  8.15
  7.84
  7.55
  7.30
  7.07
  6.86
  6.67
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
Revenue, $m
  1,526
  1,835
  2,180
  2,559
  2,972
  3,419
  3,899
  4,411
  4,955
  5,529
  6,133
  6,767
  7,430
  8,123
  8,845
  9,596
  10,378
  11,192
  12,037
  12,915
  13,828
  14,776
  15,762
  16,788
  17,855
  18,966
  20,122
  21,327
  22,584
  23,894
Variable operating expenses, $m
  1,042
  1,193
  1,360
  1,543
  1,744
  1,960
  2,193
  2,441
  2,705
  2,983
  2,973
  3,280
  3,601
  3,937
  4,287
  4,651
  5,030
  5,424
  5,834
  6,260
  6,702
  7,162
  7,640
  8,137
  8,654
  9,193
  9,753
  10,337
  10,946
  11,581
Fixed operating expenses, $m
  40
  41
  42
  43
  43
  44
  45
  46
  47
  48
  50
  51
  52
  53
  54
  55
  56
  58
  59
  60
  62
  63
  64
  66
  67
  69
  70
  72
  73
  75
Total operating expenses, $m
  1,082
  1,234
  1,402
  1,586
  1,787
  2,004
  2,238
  2,487
  2,752
  3,031
  3,023
  3,331
  3,653
  3,990
  4,341
  4,706
  5,086
  5,482
  5,893
  6,320
  6,764
  7,225
  7,704
  8,203
  8,721
  9,262
  9,823
  10,409
  11,019
  11,656
Operating income, $m
  443
  602
  779
  973
  1,185
  1,415
  1,661
  1,924
  2,203
  2,498
  3,111
  3,436
  3,777
  4,133
  4,504
  4,890
  5,292
  5,709
  6,144
  6,595
  7,064
  7,551
  8,058
  8,585
  9,134
  9,705
  10,299
  10,919
  11,564
  12,238
EBITDA, $m
  877
  1,062
  1,268
  1,495
  1,742
  2,010
  2,297
  2,604
  2,929
  3,273
  3,635
  4,014
  4,412
  4,826
  5,259
  5,709
  6,178
  6,665
  7,172
  7,698
  8,245
  8,813
  9,404
  10,019
  10,659
  11,324
  12,018
  12,740
  13,493
  14,278
Interest expense (income), $m
  116
  138
  200
  271
  350
  436
  531
  633
  743
  860
  984
  1,115
  1,253
  1,398
  1,550
  1,708
  1,873
  2,045
  2,224
  2,410
  2,603
  2,804
  3,013
  3,229
  3,455
  3,689
  3,933
  4,187
  4,452
  4,727
  5,014
Earnings before tax, $m
  305
  402
  508
  623
  749
  884
  1,028
  1,181
  1,343
  1,513
  1,995
  2,183
  2,379
  2,583
  2,795
  3,016
  3,246
  3,485
  3,734
  3,992
  4,260
  4,539
  4,829
  5,130
  5,444
  5,771
  6,112
  6,467
  6,837
  7,223
Tax expense, $m
  82
  108
  137
  168
  202
  239
  277
  319
  363
  409
  539
  589
  642
  697
  755
  814
  877
  941
  1,008
  1,078
  1,150
  1,225
  1,304
  1,385
  1,470
  1,558
  1,650
  1,746
  1,846
  1,950
Net income, $m
  223
  293
  371
  455
  547
  645
  750
  862
  980
  1,105
  1,457
  1,593
  1,736
  1,885
  2,041
  2,202
  2,370
  2,544
  2,726
  2,914
  3,110
  3,313
  3,525
  3,745
  3,974
  4,213
  4,462
  4,721
  4,991
  5,273

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  8,203
  9,868
  11,720
  13,758
  15,981
  18,384
  20,964
  23,717
  26,638
  29,725
  32,973
  36,380
  39,946
  43,670
  47,551
  51,593
  55,798
  60,170
  64,714
  69,436
  74,343
  79,443
  84,745
  90,259
  95,996
  101,967
  108,185
  114,664
  121,417
  128,460
Adjusted assets (=assets-cash), $m
  8,203
  9,868
  11,720
  13,758
  15,981
  18,384
  20,964
  23,717
  26,638
  29,725
  32,973
  36,380
  39,946
  43,670
  47,551
  51,593
  55,798
  60,170
  64,714
  69,436
  74,343
  79,443
  84,745
  90,259
  95,996
  101,967
  108,185
  114,664
  121,417
  128,460
Revenue / Adjusted assets
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
Average production assets, $m
  2,072
  2,492
  2,960
  3,475
  4,037
  4,644
  5,295
  5,991
  6,728
  7,508
  8,329
  9,189
  10,090
  11,030
  12,011
  13,032
  14,094
  15,198
  16,346
  17,539
  18,778
  20,066
  21,405
  22,798
  24,247
  25,756
  27,326
  28,963
  30,669
  32,448
Working capital, $m
  731
  879
  1,044
  1,226
  1,424
  1,638
  1,868
  2,113
  2,373
  2,648
  2,938
  3,241
  3,559
  3,891
  4,237
  4,597
  4,971
  5,361
  5,766
  6,186
  6,623
  7,078
  7,550
  8,042
  8,553
  9,085
  9,639
  10,216
  10,818
  11,445
Total debt, $m
  3,513
  4,755
  6,136
  7,657
  9,315
  11,108
  13,033
  15,086
  17,266
  19,568
  21,991
  24,533
  27,193
  29,971
  32,867
  35,882
  39,019
  42,280
  45,670
  49,192
  52,853
  56,658
  60,613
  64,726
  69,006
  73,461
  78,100
  82,933
  87,971
  93,225
Total liabilities, $m
  6,119
  7,361
  8,743
  10,264
  11,922
  13,714
  15,639
  17,693
  19,872
  22,174
  24,598
  27,140
  29,800
  32,577
  35,473
  38,489
  41,625
  44,887
  48,277
  51,799
  55,460
  59,264
  63,219
  67,333
  71,613
  76,067
  80,706
  85,539
  90,577
  95,831
Total equity, $m
  2,083
  2,506
  2,977
  3,495
  4,059
  4,670
  5,325
  6,024
  6,766
  7,550
  8,375
  9,241
  10,146
  11,092
  12,078
  13,105
  14,173
  15,283
  16,437
  17,637
  18,883
  20,178
  21,525
  22,926
  24,383
  25,900
  27,479
  29,125
  30,840
  32,629
Total liabilities and equity, $m
  8,202
  9,867
  11,720
  13,759
  15,981
  18,384
  20,964
  23,717
  26,638
  29,724
  32,973
  36,381
  39,946
  43,669
  47,551
  51,594
  55,798
  60,170
  64,714
  69,436
  74,343
  79,442
  84,744
  90,259
  95,996
  101,967
  108,185
  114,664
  121,417
  128,460
Debt-to-equity ratio
  1.690
  1.900
  2.060
  2.190
  2.290
  2.380
  2.450
  2.500
  2.550
  2.590
  2.630
  2.650
  2.680
  2.700
  2.720
  2.740
  2.750
  2.770
  2.780
  2.790
  2.800
  2.810
  2.820
  2.820
  2.830
  2.840
  2.840
  2.850
  2.850
  2.860
Adjusted equity ratio
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  223
  293
  371
  455
  547
  645
  750
  862
  980
  1,105
  1,457
  1,593
  1,736
  1,885
  2,041
  2,202
  2,370
  2,544
  2,726
  2,914
  3,110
  3,313
  3,525
  3,745
  3,974
  4,213
  4,462
  4,721
  4,991
  5,273
Depreciation, amort., depletion, $m
  433
  460
  489
  522
  557
  595
  636
  680
  726
  775
  524
  578
  635
  694
  755
  820
  886
  956
  1,028
  1,103
  1,181
  1,262
  1,346
  1,434
  1,525
  1,620
  1,719
  1,822
  1,929
  2,041
Funds from operations, $m
  656
  753
  860
  977
  1,103
  1,240
  1,386
  1,542
  1,706
  1,880
  1,980
  2,171
  2,371
  2,579
  2,796
  3,022
  3,256
  3,500
  3,754
  4,017
  4,291
  4,575
  4,871
  5,179
  5,499
  5,833
  6,180
  6,542
  6,920
  7,314
Change in working capital, $m
  132
  148
  165
  182
  198
  214
  230
  245
  260
  275
  289
  304
  318
  332
  346
  360
  375
  390
  405
  421
  437
  454
  472
  491
  511
  532
  554
  577
  602
  627
Cash from operations, $m
  524
  605
  695
  795
  905
  1,026
  1,156
  1,297
  1,446
  1,605
  1,691
  1,868
  2,053
  2,247
  2,450
  2,661
  2,882
  3,111
  3,349
  3,596
  3,854
  4,121
  4,399
  4,688
  4,988
  5,301
  5,626
  5,965
  6,318
  6,686
Maintenance CAPEX, $m
  -107
  -130
  -157
  -186
  -219
  -254
  -292
  -333
  -377
  -423
  -472
  -524
  -578
  -635
  -694
  -755
  -820
  -886
  -956
  -1,028
  -1,103
  -1,181
  -1,262
  -1,346
  -1,434
  -1,525
  -1,620
  -1,719
  -1,822
  -1,929
New CAPEX, $m
  -373
  -421
  -468
  -515
  -561
  -607
  -652
  -695
  -738
  -780
  -820
  -861
  -901
  -940
  -980
  -1,021
  -1,062
  -1,104
  -1,148
  -1,193
  -1,239
  -1,288
  -1,339
  -1,393
  -1,449
  -1,508
  -1,571
  -1,636
  -1,706
  -1,779
Cash from investing activities, $m
  -480
  -551
  -625
  -701
  -780
  -861
  -944
  -1,028
  -1,115
  -1,203
  -1,292
  -1,385
  -1,479
  -1,575
  -1,674
  -1,776
  -1,882
  -1,990
  -2,104
  -2,221
  -2,342
  -2,469
  -2,601
  -2,739
  -2,883
  -3,033
  -3,191
  -3,355
  -3,528
  -3,708
Free cash flow, $m
  45
  54
  70
  94
  126
  165
  213
  268
  331
  402
  398
  483
  575
  672
  776
  885
  1,000
  1,120
  1,245
  1,376
  1,511
  1,652
  1,798
  1,949
  2,105
  2,268
  2,436
  2,610
  2,791
  2,978
Issuance/(repayment) of debt, $m
  1,088
  1,242
  1,382
  1,521
  1,658
  1,793
  1,925
  2,054
  2,179
  2,302
  2,423
  2,542
  2,660
  2,778
  2,896
  3,015
  3,137
  3,261
  3,390
  3,522
  3,661
  3,805
  3,955
  4,114
  4,280
  4,455
  4,639
  4,833
  5,038
  5,254
Issuance/(repurchase) of shares, $m
  149
  130
  100
  63
  18
  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  
  1,237
  1,372
  1,482
  1,584
  1,676
  1,793
  1,925
  2,054
  2,179
  2,302
  2,423
  2,542
  2,660
  2,778
  2,896
  3,015
  3,137
  3,261
  3,390
  3,522
  3,661
  3,805
  3,955
  4,114
  4,280
  4,455
  4,639
  4,833
  5,038
  5,254
Total cash flow (excl. dividends), $m
  1,282
  1,426
  1,552
  1,677
  1,801
  1,958
  2,137
  2,322
  2,511
  2,705
  2,822
  3,025
  3,235
  3,450
  3,672
  3,900
  4,137
  4,381
  4,635
  4,898
  5,172
  5,456
  5,753
  6,062
  6,385
  6,722
  7,075
  7,443
  7,829
  8,233
Retained Cash Flow (-), $m
  -372
  -423
  -470
  -518
  -565
  -610
  -655
  -699
  -742
  -784
  -825
  -866
  -906
  -946
  -986
  -1,027
  -1,068
  -1,110
  -1,154
  -1,199
  -1,246
  -1,295
  -1,347
  -1,401
  -1,457
  -1,517
  -1,579
  -1,646
  -1,715
  -1,789
Prev. year cash balance distribution, $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 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
  910
  1,003
  1,081
  1,160
  1,237
  1,347
  1,482
  1,623
  1,769
  1,921
  1,997
  2,160
  2,329
  2,504
  2,686
  2,874
  3,069
  3,271
  3,481
  3,699
  3,925
  4,161
  4,406
  4,662
  4,928
  5,205
  5,495
  5,798
  6,113
  6,444
Discount rate, %
  8.50
  8.93
  9.37
  9.84
  10.33
  10.85
  11.39
  11.96
  12.56
  13.19
  13.85
  14.54
  15.26
  16.03
  16.83
  17.67
  18.55
  19.48
  20.46
  21.48
  22.55
  23.68
  24.86
  26.11
  27.41
  28.78
  30.22
  31.73
  33.32
  34.99
PV of cash for distribution, $m
  838
  845
  826
  797
  757
  726
  697
  657
  610
  557
  480
  424
  367
  312
  260
  213
  170
  133
  101
  76
  55
  39
  27
  18
  12
  7
  4
  3
  1
  1
Current shareholders' claim on cash, %
  97.9
  96.4
  95.5
  95.0
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9

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 113.4
Price to Sales 6.8
Price to Book 4.6
Price to Tangible Book
Price to Cash Flow -45.8
Price to Free Cash Flow -31.9
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 $1250.548 million for the last fiscal year's total revenue generated by WEX. The default revenue input number comes from 0001 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 22% 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 8.5%, 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 72.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $39 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 5.7% 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 135.8%.

Life of production assets of 15.9 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 47.9%. 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 - $1711.338 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 43.092 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 $7.0 billion.

RELATED COMPANIES Price Int.Val. Rating
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GPN Global Payment 109.42 65.07  sell

COMPANY NEWS

▶ Why WEX Isn't Done Growing Earnings Yet   [Nov-16-18 08:40AM  Zacks]
▶ WEX Inc. Announces Investor Day on November 14   [Nov-07-18 06:45AM  Business Wire]
▶ Wex: 3Q Earnings Snapshot   [07:03AM  Associated Press]
▶ WEX Inc. Signs Agreement to Acquire Noventis   [Oct-22-18 04:30PM  Business Wire]
▶ WEX Stock Still Has Room to Grow   [Oct-08-18 02:24PM  InvestorPlace]
▶ 3 Payment Stocks to Gain From Solid Retail Sales   [Aug-30-18 12:00PM  InvestorPlace]
▶ WEX Inc. Completes Debt Repricing and Maturity Extension   [Aug-24-18 04:15PM  Business Wire]
▶ WEX Sees Hammer Chart Pattern: Time to Buy?   [Aug-06-18 05:55AM  Zacks]
▶ Wex: 2Q Earnings Snapshot   [08:48AM  Associated Press]
▶ WEX Inc. to Host Earnings Call   [07:00AM  ACCESSWIRE]
▶ WEX Evolves Fuel Payments from Plastic to Phone   [Jun-18-18 04:45PM  Business Wire]
▶ Top Ranked Momentum Stocks to Buy for May 30th   [May-30-18 09:28AM  Zacks]
▶ Top Ranked Momentum Stocks to Buy for May 3rd   [May-03-18 10:35AM  Zacks]
▶ Wex: 1Q Earnings Snapshot   [07:16AM  Associated Press]
▶ Top Ranked Momentum Stocks to Buy for May 2nd   [May-02-18 10:49AM  Zacks]

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