WEX Inc (N:WEX)
Business Focus: Transaction & Payment Services
| Sector: Industrials | Industry: Business Support Services |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 97 Darling Avenue PORTLAND ME 04106 |
| Tel: | 1-207-5237769 |
| Website: | https://www.wexinc.com |
| IR: | See website |
| Key People | ||
| Melissa D. Smith Chairman of the Board, President, Chief Executive Officer | Karen B. Stroup Chief Digital Officer | Jagtar Narula Chief Financial Officer |
| Melanie J. Tinto Chief Human Resource Officer | David G. Cooper Senior Vice President, Chief Technology Officer | Jennifer Kimball Chief Accounting Officer |
| Ann Drew Chief Risk and Compliance Officer | Carlos Carriedo Chief Operating Officer, International | Joel A. Dearborn Chief Strategy Officer | Robert Joseph Deshaies Chief Operating Officer, Americas |
| Business Overview |
| WEX Inc. provides a global commerce platform, which owns and operates a business-to-business (B2B) ecosystem. The Company operates through three segments: Mobility, Benefits, and Corporate Payments. Its Mobility segment provides payment processing, transaction processing, and information management services specifically designed for the needs of fleets of all sizes from small businesses to federal and state government fleets and over-the-road carriers. Its Benefits segment provides a Software as a service (SaaS) platform for consumer directed healthcare benefits and a full-service benefit enrollment solution, bringing together benefits administration, certain compliance services and consumer-directed and benefits accounts. Its Corporate Payments segment focuses on the complex payment environment of global B2B payments, enabling customers to utilize its payments solutions to integrate into their own workflows and manage their accounts payable automation and spend management functions. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, WEX Inc revenues increased 8% to $2.55B. Net income increased 32% to $266.6M. Revenues reflect Health and Employee Benefit Solutions segment increase of 32% to $668.4M, Travel and Corporate Solutions segment increase of 24% to $496.9M, United States segment increase of 6% to $2.19B, International segment increase of 23% to $354.2M. |
| Employees: | 7,200 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $12,615M as of Dec 31, 2023 |
| Annual revenue (TTM): | $2,548M as of Dec 31, 2023 |
| EBITDA (TTM): | $1,149M as of Dec 31, 2023 |
| Net annual income (TTM): | $266.60M as of Dec 31, 2023 |
| Free cash flow (TTM): | $759.80M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $2,893M as of Dec 31, 2023 |
| Shares outstanding: | 41,734,802 as of Feb 15, 2024 |
| Index Membership: | S&P 400 Mid Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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