WEX WEX Inc. common stock
NYSE · Financial Services · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 23, 2026
$169.10
· of 52w range
· above low
· to high
$125.2952w low
$203.9952w high
Market Cap (MRQ)
$5.80B
P/E (TTM)
16.9
EPS (TTM)
$10.01
Revenue (TTM)
$2.79B
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52W Range
$125–$204
Analyst Rating
HOLD
Price Target
$195
P/E
16.9
ROE
30.2%
Net Profit Margin
12.6%
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WEX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$169.10
Market Cap (MRQ)
$5.80B
P/E (TTM)
16.9
EPS (TTM)
$10.01
Revenue (TTM)
$2.79B
ROE (TTM)
30.2%
Debt/Equity (MRQ)
4.0
52W Range
$125–$204
WEX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$2.66B2016-12-31 → 2025-12-31
EPS$8.472016-12-31 → 2025-12-31
Free Cash Flow$314M2016-12-31 → 2025-12-31
Net margin12.6%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | WEX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 16.95Y avg ≈27.2 | ≈27.2 | 21.5 | Undervalued | |
| P/S (TTM) | 2.15Y avg ≈2.8 | ≈2.8 | 2.6 | Undervalued | |
| P/B (MRQ) | 4.35Y avg ≈4.2 | ≈4.2 | 5.5 | Undervalued | |
| EV / EBITDA (TTM) | 4.95Y avg ≈8.6 | ≈8.6 | 17.8 | Undervalued | |
| Price / FCF (TTM) | 53.55Y avg ≈31.5 | ≈31.5 | · | · | |
| Price / Cash Flow (TTM) | 22.15Y avg ≈17.3 | ≈17.3 | 13.7 | Undervalued | |
| EV / Revenue (TTM) | 1.85Y avg ≈3.0 | ≈3.0 | · | · | |
| EV / FCF (TTM) | 47.15Y avg ≈35.6 | ≈35.6 | · | · | |
| Price / Tangible Book (MRQ) | 20.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | WEX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 25.5%5Y avg ≈23.0% | ≈23.0% | 14.2% | Top tier | |
| EBITDA Margin (TTM) | 37.3%5Y avg ≈35.3% | ≈35.3% | 19.9% | Top tier | |
| Pretax Margin (TTM) | 17.4%5Y avg ≈13.7% | ≈13.7% | 11.5% | Top tier | |
| Net Profit Margin (TTM) | 12.6%5Y avg ≈9.6% | ≈9.6% | 11.2% | Top tier | |
| ROA (TTM) | 2.3%5Y avg ≈1.9% | ≈1.9% | 8.1% | Weak | |
| ROE (TTM) | 30.2%5Y avg ≈15.9% | ≈15.9% | 14.9% | Top tier | |
| ROIC | 7.8%5Y avg ≈7.3% | ≈7.3% | 9.2% | In line |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | WEX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 4.05Y avg ≈2.5 | ≈2.5 | 0.7 | High debt | |
| Current Ratio (MRQ) | 1.05Y avg ≈1.1 | ≈1.1 | 1.8 | Low liquidity | |
| Quick Ratio | 0.65Y avg ≈0.5 | ≈0.5 | 0.7 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 2.65Y avg ≈1.9 | ≈1.9 | 0.6 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | WEX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 1.2%5Y avg ≈11.7% | ≈11.7% | · | · | |
| Revenue CAGR 3Y | 4.2%5Y avg ≈11.5% | ≈11.5% | · | · | |
| Revenue CAGR 5Y | 11.3% | · | · | · | |
| EPS YoY | 12.9%5Y avg ≈23.9% | ≈23.9% | · | · | |
| Net Income YoY | -1.8%5Y avg ≈24.3% | ≈24.3% | · | · | |
| EPS CAGR 3Y | 23.5% | · | · | · | |
| Net Income CAGR 3Y | 22.1% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | WEX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.25Y avg ≈0.2 | ≈0.2 | 1.0 | Weak | |
| Revenue / Employee | ≈$403.2K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
3.1%
Next Report
Oct 27, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 21, 2026 | $5.35 | $5.10 | 4.8% |
| March 31, 2026 | $4.15 | $4.11 | 1.0% | |
| Dec. 31, 2025 | $4.11 | $3.96 | 3.8% | |
| Sept. 30, 2025 | $4.59 | $4.48 | 2.5% | |
| June 30, 2025 | $3.95 | $3.73 | 5.9% | |
| March 31, 2025 | $3.51 | $3.50 | 0.39% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.66B | $2.63B | $2.55B | $2.35B | $1.85B | $1.56B | $1.72B | $1.49B | $1.25B | $1.01B | $855M | $818M | |
| Cost of Revenue | $1.10B | $1.04B | $973M | $930M | $702M | $673M | $660M | $548M | $514M | $459M | $3M | $120M | |
| SG&A Expense | $330M | $376M | $428M | $344M | $327M | $292M | $276M | $209M | $184M | $186M | · | · | |
| Operating Expenses | · | · | · | · | · | · | · | · | $1.01B | $823M | $626M | $511M | |
| Operating Income | $664M | $686M | $647M | $470M | $342M | $-92M | $386M | $381M | $233M | $159M | $229M | $306M | |
| Interest Expense | · | · | · | $131M | $128M | $157M | $135M | $105M | · | · | · | · | |
| Interest Income | · | · | · | · | · | · | · | $38M | $25M | $12M | · | · | |
| Other Non-op | · | · | · | · | · | · | $900.0K | $-800.0K | $15M | $-600.0K | $-2M | $-1M | |
| Pretax Income | $420M | $418M | $369M | $260M | $204M | $-301M | $217M | $239M | $174M | $49M | $185M | $302M | |
| Income Tax | $116M | $108M | $102M | $93M | $68M | $-21M | $61M | $69M | $15M | $29M | $75M | $102M | |
| Net Income | $304M | $310M | $267M | $167M | $135M | $-284M | $156M | $168M | $160M | $61M | $111M | $202M | |
| EPS (Basic) | $8.57 | $7.59 | $6.23 | $4.54 | $0.00 | $-5.56 | $2.29 | $3.90 | $3.72 | $0.58 | $2.63 | $5.20 | |
| EPS (Diluted) | $8.47 | $7.50 | $6.16 | $4.50 | $0.00 | $-5.56 | $2.26 | $3.86 | $3.71 | $0.57 | $2.62 | $5.18 | |
| Shares (Basic) | 35,500,000 | 40,800,000 | 42,800,000 | 44,400,000 | 44,700,000 | 43,842,000 | 43,316,000 | 43,156,000 | 42,977,000 | 40,809,000 | 38,771,000 | 38,890,000 | |
| Shares (Diluted) | 35,900,000 | 41,300,000 | 43,300,000 | 44,700,000 | 45,300,000 | 43,842,000 | 43,769,000 | 43,574,000 | 43,105,000 | 40,914,000 | 38,843,000 | 39,000,000 | |
| EBITDA | $995M | $1.01B | $923M | $734M | $615M | $170M | $623M | · | $443M | $337M | $315M | $379M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $906M | $596M | $976M | $922M | $589M | $852M | $811M | $541M | $504M | $191M | $278M | $285M | |
| Short-term Investments | $4.33B | $3.76B | $3.02B | $1.40B | $949M | $0 | · | · | · | · | · | · | |
| Prepaid Expense | $215M | $199M | $125M | $143M | $78M | $87M | $88M | $149M | $78M | · | · | · | |
| Current Assets | $9.71B | $8.52B | $8.94B | $6.82B | $5.30B | $3.50B | $3.84B | $3.40B | $3.21B | · | · | · | |
| PP&E (Net) | $254M | $261M | $243M | $202M | $180M | $188M | $212M | $188M | $164M | $167M | $139M | $106M | |
| PP&E (Gross) | $967M | $893M | $787M | $732M | $638M | $591M | $557M | $496M | $429M | $396M | $331M | $275M | |
| Accum. Depreciation | $713M | $632M | $544M | $530M | $458M | $402M | $344M | $308M | $265M | $228M | $192M | $169M | |
| Goodwill | $3.02B | $2.98B | $3.02B | $2.73B | $2.91B | $2.69B | $2.44B | $1.83B | $1.88B | $1.84B | $1.11B | $1.12B | |
| Intangibles | $1.09B | $1.26B | $1.46B | $1.47B | $1.64B | $1.55B | $1.58B | $1.03B | $1.15B | $1.27B | $471M | $497M | |
| Other Non-current Assets | $218M | $203M | $149M | $246M | $231M | $197M | $184M | $284M | $258M | · | · | · | |
| Total Assets | $14.40B | $13.32B | $13.88B | $11.53B | $10.31B | $8.18B | $8.30B | $6.77B | $6.69B | $6.00B | $3.85B | $4.12B | |
| Short-term Debt | $1.33B | $1.29B | $1.04B | $203M | · | · | · | · | · | · | · | · | |
| Current Liabilities | $9.29B | $8.33B | $8.52B | $6.29B | $4.40B | $2.74B | $3.05B | $2.31B | $2.58B | · | · | · | |
| Capital Leases | $54M | $60M | $66M | $71M | $81M | $83M | $68M | · | · | · | · | · | |
| Deferred Tax | $187M | $146M | $130M | $142M | $193M | $220M | $219M | $152M | $116M | $153M | $84M | $44M | |
| Other Non-current Liabilities | $159M | $278M | $456M | $587M | $274M | $165M | $106M | $32M | $32M | · | · | · | |
| Total Liabilities | $13.16B | $11.83B | $12.06B | $9.88B | $8.21B | $6.15B | $6.21B | $4.97B | $5.06B | $4.49B | $2.75B | $3.02B | |
| Long-term Debt | $3.59B | $3.13B | $2.88B | $2.58B | $2.85B | $3.03B | $2.69B | $2.13B | $2.03B | · | $1.07B | $1.30B | |
| Total Debt | $4.91B | $4.43B | $3.92B | $2.72B | $2.85B | $3.03B | $2.94B | · | · | · | · | · | |
| Common Stock | $500.0K | $500.0K | $500.0K | $500.0K | $492.0K | $485.0K | $477.0K | $475.0K | $473.0K | $472.0K | $431.0K | $430.0K | |
| Paid-in Capital | $1.21B | $1.15B | $1.05B | $928M | $844M | $873M | $675M | $593M | $569M | $548M | $175M | $179M | |
| Retained Earnings | $2.37B | $2.07B | $1.76B | $1.49B | $1.29B | $1.29B | $1.54B | $1.48B | $1.31B | $1.24B | $1.18B | $1.08B | |
| Treasury Stock | $2.22B | $1.42B | $761M | $463M | $172M | $172M | $172M | $172M | $172M | $172M | $172M | $150M | |
| AOCI | $-128M | $-312M | $-229M | $-306M | $-123M | $-83M | $-115M | $-117M | $-89M | $-123M | $-103M | $-51M | |
| Stockholders' Equity | $1.23B | $1.49B | $1.82B | $1.65B | $1.84B | $1.88B | $1.93B | $1.79B | $1.62B | $1.50B | $1.10B | $1.08B | |
| Liabilities + Equity | $14.40B | $13.32B | $13.88B | $11.53B | $10.31B | $8.18B | $8.30B | $6.77B | $6.69B | $6.00B | $3.85B | $4.12B | |
| Shares Outstanding | 34,300,000 | 39,000,000 | 41,900,000 | 43,200,000 | 44,827,000 | 44,188,000 | 43,321,000 | 43,129,000 | 43,022,000 | 42,841,000 | 38,746,000 | 38,897,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $331M | $321M | $276M | $264M | $273M | $262M | $237M | $200M | $204M | $142M | $83M | $70M | |
| Stock-based Comp | $100M | $112M | $127M | $98M | $75M | $64M | $46M | $34M | $30M | $20M | $12M | $14M | |
| Deferred Tax | $44M | $11M | $-21M | $-60M | $13M | $-29M | $20M | $31M | $-4M | $19M | $37M | $46M | |
| Amort. of Intangibles | $192M | $202M | $184M | $170M | $182M | $171M | $159M | $138M | $154M | $98M | $47.8K | $41M | |
| Restructuring | · | $12M | · | $9M | $5M | · | · | · | $7M | $7M | $9M | $0 | |
| Other Non-cash | $-325M | $-273M | $259M | $211M | $-345M | $845M | $204M | · | $-261M | $-393M | $198M | $-39M | |
| Operating Cash Flow | $454M | $481M | $908M | $679M | $-43M | $737M | $663M | $400M | $135M | $-141M | $445M | $296M | |
| CapEx | $141M | $147M | $144M | $113M | $86M | $80M | $103M | $87M | $79M | $62M | $63M | $58M | |
| Investing Cash Flow | $-697M | $-961M | $-2.14B | $-717M | $-1.60B | $-329M | $-991M | $-254M | $-168M | $-1.16B | $-127M | $-904M | |
| Stock Issued | · | · | · | $0 | $0 | $90M | $0 | $0 | · | · | · | · | |
| Stock Repurchased | $800M | $652M | $303M | $283M | $0 | $0 | · | · | $0 | $0 | $22M | $20M | |
| Net Stock Activity | $-800M | $-652M | $-303M | $-283M | $0 | $90M | · | · | $0 | $0 | $-22M | $-20M | |
| Financing Cash Flow | $419M | $-260M | $1.57B | $681M | $1.60B | $-59M | $750M | $-103M | $359M | $1.22B | $-320M | $527M | |
| Net Change in Cash | $241M | $-793M | $370M | $603M | $-73M | $348M | $426M | $33M | $309M | $-83M | $-5M | $-77M | |
| Taxes Paid | $44M | $132M | $130M | $143M | $51M | $-8M | $51M | $39M | · | · | · | · | |
| Free Cash Flow | $314M | $334M | $764M | $567M | $64M | $777M | $560M | · | $54M | $-213M | $382M | $238M | |
| Levered FCF | · | · | · | $483M | $-21M | $630M | · | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 24.9% | 26.1% | 25.4% | 20.0% | 18.5% | -5.9% | 22.4% | · | 19.1% | 19.2% | 26.8% | 37.5% | |
| Net Margin | 11.4% | 11.8% | 10.5% | 7.1% | 7.3% | -18.2% | 9.1% | · | 12.8% | 5.9% | 13.0% | 24.7% | |
| Pretax Margin | 15.8% | 15.9% | 14.5% | 11.1% | 11.0% | -19.3% | 12.6% | · | 14.3% | 8.6% | 21.6% | 36.9% | |
| EBITDA Margin | 37.4% | 38.3% | 36.2% | 31.2% | 33.2% | 10.9% | 36.1% | · | 35.4% | 33.1% | 36.9% | 46.4% | |
| ROA | 2.2% | 2.3% | 2.1% | 1.5% | 1.5% | -3.5% | 2.1% | · | 2.5% | 1.2% | 2.8% | 5.4% | |
| ROE | 27.5% | 19.6% | 15.2% | 10.2% | 7.3% | -14.8% | 8.4% | · | 10.0% | 4.0% | 10.3% | 19.0% | |
| ROIC | 7.8% | 8.6% | 8.1% | 6.9% | 4.9% | -1.7% | 5.7% | · | 12.4% | 8.6% | 12.4% | 18.8% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | 1.0 | 1.1 | 1.2 | 1.3 | 1.3 | · | · | · | · | · | |
| Quick Ratio | 0.6 | 0.5 | 0.5 | 0.4 | 0.3 | 0.3 | 0.3 | · | · | · | · | · | |
| Debt / Equity | 4.0 | 3.0 | 2.2 | 1.7 | 1.6 | 1.6 | 1.5 | · | · | · | · | · | |
| LT Debt / Equity | 2.9 | 2.1 | 1.6 | 1.5 | 1.5 | 1.5 | 1.4 | · | · | · | · | · | |
| Interest Coverage | · | · | · | 3.6 | 2.7 | -0.6 | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | 0.2 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $35.99 | $38.17 | $43.45 | $38.17 | $41.02 | $43.11 | $44.48 | · | $39.78 | $35.15 | $28.28 | $27.71 | |
| Revenue / Share | $74.12 | $63.63 | $58.85 | $52.56 | $40.84 | $35.58 | $39.38 | · | $29.01 | $24.89 | $22.00 | $20.97 | |
| Cash Flow / Share | $12.65 | $11.66 | $20.97 | $15.19 | $3.32 | $19.55 | $15.15 | · | $3.08 | $-3.69 | $11.46 | $7.60 | |
| Cash / Share | $26.41 | $15.28 | $23.29 | $21.33 | $13.14 | $19.28 | $18.72 | · | $11.81 | $4.46 | $7.23 | $7.32 | |
| EPS (TTM) | $8.47 | $7.50 | $6.16 | $4.50 | $0.00 | $-5.56 | $2.26 | $3.86 | $3.71 | $0.57 | $2.62 | $5.18 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 1.2% | 3.1% | 8.4% | 27.0% | 18.6% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 4.2% | 12.4% | 17.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 11.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 12.9% | 21.8% | 36.9% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 23.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.8% | 16.1% | 59.5% | 23.6% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 22.1% | 31.8% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.66B | $2.63B | $2.55B | $2.35B | $1.85B | $1.56B | $1.72B | $1.49B | $1.25B | $1.01B | $855M | $818M | |
| Net Income TTM | $304M | $310M | $267M | $167M | $135M | $-284M | $156M | $168M | $160M | $61M | $111M | $202M | |
| Market Cap | $5.11B | $6.84B | $8.15B | $7.07B | $6.29B | $8.99B | $9.07B | · | $6.08B | $4.78B | $3.43B | $3.85B | |
| Enterprise Value | $4.78B | $6.90B | $8.08B | $7.48B | $7.61B | $11.17B | $11.20B | · | · | · | · | · | |
| P/E | 17.6 | 23.4 | 31.6 | 36.4 | · | -36.6 | 92.7 | 36.3 | 38.1 | 195.8 | 33.7 | 19.1 | |
| P/S | 1.9 | 2.6 | 3.2 | 3.0 | 3.4 | 5.8 | 5.3 | · | 4.9 | 4.7 | 4.0 | 4.7 | |
| P/B | 4.1 | 4.6 | 4.5 | 4.3 | 3.4 | 4.7 | 4.7 | · | 3.6 | 3.2 | 3.1 | 3.6 | |
| P / Cash Flow | 11.2 | 14.2 | 9.0 | 10.4 | 41.8 | 10.5 | 13.7 | · | 45.7 | -31.6 | 7.7 | 13.0 | |
| P / FCF | 16.3 | 20.5 | 10.7 | 12.5 | 97.8 | 11.6 | 16.2 | · | 113.2 | -22.5 | 9.0 | 16.1 | |
| EV / EBITDA | 4.8 | 6.9 | 8.7 | 10.2 | 12.4 | 65.6 | 18.0 | · | · | · | · | · | |
| EV / FCF | 15.3 | 20.7 | 10.6 | 13.2 | 118.2 | 14.4 | 20.0 | · | · | · | · | · | |
| EV / Revenue | 1.8 | 2.6 | 3.2 | 3.2 | 4.1 | 7.2 | 6.5 | · | · | · | · | · | |
| Earnings Yield | 5.7% | 4.3% | 3.2% | 2.8% | 0.00% | -2.7% | 1.1% | 2.8% | 2.6% | 0.51% | 3.0% | 5.2% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $754M | $674M | $673M | $692M | $660M | $637M | $636M | $666M | $674M | $653M | $663M | $651M | $621M | $612M | $619M | $616M | |
| Cost of Revenue | $290M | $280M | $284M | $274M | $273M | $270M | $258M | $249M | $264M | $267M | $256M | $235M | $235M | $247M | $252M | $252M | |
| SG&A Expense | $104M | $87M | $78M | $92M | $86M | $74M | $94M | $92M | $101M | $88M | $116M | $117M | $106M | $89M | $95M | $86M | |
| Operating Income | $203M | $158M | $166M | $184M | $157M | $157M | $157M | $196M | $168M | $164M | $158M | $175M | $159M | $154M | $155M | $21M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $34M | |
| Pretax Income | $150M | $108M | $110M | $116M | $93M | $100M | $81M | $141M | $106M | $90M | $108M | $44M | $118M | $98M | $124M | $-43M | |
| Income Tax | $42M | $31M | $26M | $36M | $25M | $29M | $17M | $38M | $29M | $24M | $24M | $26M | $22M | $30M | $36M | $800.0K | |
| Net Income | $108M | $78M | $84M | $80M | $68M | $72M | $64M | $103M | $77M | $66M | $85M | $18M | $95M | $68M | $89M | $-44M | |
| EPS (Basic) | $3.13 | $2.25 | $2.41 | $2.34 | $1.98 | $1.84 | $1.61 | $2.56 | $1.85 | $1.57 | $2.00 | $0.43 | $2.22 | $1.58 | $2.05 | $-1.00 | |
| EPS (Diluted) | $3.11 | $2.22 | $2.38 | $2.30 | $1.98 | $1.81 | $1.60 | $2.52 | $1.83 | $1.55 | $1.98 | $0.42 | $2.20 | $1.56 | $2.03 | $-1.00 | |
| Shares (Basic) | 34,700,000 | 34,500,000 | · | 34,400,000 | 34,300,000 | 38,900,000 | · | 40,300,000 | 41,700,000 | 41,800,000 | · | 42,900,000 | 42,900,000 | 43,100,000 | · | 44,200,000 | |
| Shares (Diluted) | 34,900,000 | 35,000,000 | · | 34,800,000 | 34,400,000 | 39,400,000 | · | 40,800,000 | 42,000,000 | 42,400,000 | · | 43,400,000 | 43,400,000 | 43,600,000 | · | 44,200,000 | |
| EBITDA | $203M | $240M | · | $184M | $157M | $239M | · | $196M | $168M | $243M | · | $175M | $159M | $221M | · | $21M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.16B | $634M | $906M | $813M | $773M | $610M | $596M | $535M | $683M | $780M | · | $958M | $901M | $922M | · | $759M | |
| Short-term Investments | $4.94B | $4.78B | $4.33B | $4.13B | $4.14B | $3.83B | $3.76B | $3.72B | $3.32B | $3.30B | · | $2.63B | $2.64B | $2.48B | · | $1.38B | |
| Prepaid Expense | $175M | $165M | $215M | $150M | $176M | $174M | $199M | $171M | $177M | $147M | · | $189M | $184M | $145M | · | $144M | |
| Current Assets | $11.81B | $10.71B | $9.71B | $9.72B | $9.90B | $9.17B | $8.52B | $9.11B | $9.38B | $9.53B | · | $9.13B | $8.70B | $8.05B | · | $7.20B | |
| PP&E (Net) | $259M | $255M | $254M | $258M | $258M | $259M | $261M | $261M | $257M | $250M | $243M | $229M | $222M | $210M | $202M | $187M | |
| PP&E (Gross) | · | · | $967M | · | · | · | $893M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $785M | $748M | $713M | $569M | $697M | $665M | $632M | $629M | $597M | $570M | · | $593M | $571M | $552M | · | $515M | |
| Goodwill | $3.02B | $3.02B | $3.02B | $3.01B | $3.01B | $2.99B | $2.98B | $3.02B | $3.01B | $3.00B | $3.02B | $2.80B | $2.73B | $2.73B | $2.73B | $2.70B | |
| Intangibles | $1.05B | $1.10B | $1.09B | $1.14B | $1.18B | $1.23B | $1.26B | $1.31B | $1.36B | $1.41B | · | $1.44B | $1.39B | $1.44B | · | $1.51B | |
| Other Non-current Assets | $234M | $224M | $218M | $215M | $221M | $216M | $203M | $162M | $158M | $147M | · | $241M | $240M | $240M | · | $250M | |
| Total Assets | $16.50B | $15.43B | $14.40B | $14.43B | $14.67B | $13.96B | $13.32B | $13.96B | $14.25B | $14.42B | · | $13.90B | $13.35B | $12.73B | · | $11.91B | |
| Short-term Debt | $1.83B | $1.63B | $1.33B | $1.31B | $1.53B | $1.49B | $1.29B | $1.44B | $1.25B | $1.11B | · | $957M | $723M | · | · | · | |
| Current Liabilities | $11.30B | $10.22B | $9.29B | $9.25B | $9.50B | $8.76B | $8.33B | $8.72B | $9.07B | $8.99B | · | $8.86B | $8.33B | $7.50B | · | $6.41B | |
| Capital Leases | · | · | $54M | · | · | · | $60M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $202M | $195M | $187M | $175M | $149M | $147M | $146M | $138M | $133M | $133M | · | $140M | $132M | $138M | · | $156M | |
| Other Non-current Liabilities | $127M | $132M | $159M | $168M | $139M | $146M | $278M | $285M | $302M | $315M | · | $442M | $446M | $446M | · | $574M | |
| Total Liabilities | $15.15B | $14.15B | $13.16B | $13.31B | $13.69B | $13.15B | $11.83B | $12.28B | $12.46B | $12.64B | · | $12.20B | $11.58B | $11.06B | · | $10.28B | |
| Long-term Debt | $3.58B | $3.66B | $3.59B | $3.77B | $3.96B | $4.15B | $3.13B | $3.19B | $3.01B | $3.14B | · | $2.71B | $2.55B | $2.92B | · | $2.80B | |
| Total Debt | $5.41B | $5.29B | · | $5.08B | $5.50B | $5.64B | · | $4.63B | $4.26B | $4.25B | · | $3.66B | $3.28B | $2.92B | · | $2.80B | |
| Common Stock | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | · | $500.0K | $500.0K | $500.0K | · | $495.0K | |
| Paid-in Capital | $1.26B | $1.22B | $1.21B | $1.19B | $1.16B | $1.13B | $1.15B | $1.07B | $1.10B | $1.07B | · | $1.02B | $981M | $951M | · | $907M | |
| Retained Earnings | $2.56B | $2.45B | $2.37B | $2.29B | $2.21B | $2.14B | $2.07B | $2.00B | $1.90B | $1.82B | · | $1.67B | $1.65B | $1.56B | · | $1.40B | |
| Treasury Stock | $2.28B | $2.22B | $2.22B | $2.22B | $2.22B | $2.22B | $1.42B | $1.25B | $935M | $834M | · | $609M | $559M | $556M | · | $322M | |
| AOCI | $-192M | $-178M | $-128M | $-141M | $-171M | $-245M | $-312M | $-146M | $-281M | $-276M | · | $-386M | $-308M | $-283M | · | $-357M | |
| Stockholders' Equity | $1.34B | $1.27B | $1.23B | $1.12B | $979M | $810M | $1.49B | $1.68B | $1.78B | $1.78B | $1.82B | $1.70B | $1.77B | $1.67B | · | $1.63B | |
| Liabilities + Equity | $16.50B | $15.43B | $14.40B | $14.43B | $14.67B | $13.96B | $13.32B | $13.96B | $14.25B | $14.42B | · | $13.90B | $13.35B | $12.73B | · | $11.91B | |
| Shares Outstanding | 34,300,000 | 34,700,000 | 34,300,000 | 34,300,000 | 34,300,000 | 34,200,000 | 39,000,000 | 39,800,000 | 41,500,000 | 41,900,000 | · | 42,700,000 | 42,900,000 | 42,800,000 | · | 44,130,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $83M | $82M | $82M | $84M | $84M | $82M | $82M | $82M | $80M | $78M | $75M | $68M | $67M | $67M | $66M | $66M | |
| Stock-based Comp | $36M | $28M | $22M | $34M | $32M | $13M | $22M | $29M | $33M | $28M | $35M | $30M | $36M | $25M | $21M | $28M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | $-21M | $9M | $-3M | $-6M | $-6M | $-39M | |
| Restructuring | · | · | · | · | · | · | $0 | $1M | $11M | · | · | · | · | · | $9M | $0 | |
| Other Non-cash | · | $-518M | · | · | · | $-647M | · | · | · | $-326M | · | · | · | $-127M | · | · | |
| Operating Cash Flow | $-78M | $-331M | $295M | $377M | $265M | $-482M | $638M | $3M | $-7M | $-153M | $762M | $46M | $72M | $27M | $573M | $245M | |
| CapEx | $44M | $38M | $38M | $35M | $35M | $33M | $39M | $35M | $40M | $34M | $42M | $36M | $35M | $31M | $37M | $30M | |
| Investing Cash Flow | $-256M | $-524M | $-303M | $22M | $-392M | $-24M | $-237M | $-321M | $-85M | $-318M | $-567M | $-249M | $-260M | $-1.06B | $-53M | $-53M | |
| Stock Repurchased | $64M | $0 | $0 | $100.0K | $10M | $790M | $108M | $370M | $100M | $74M | $151M | $49M | $3M | $101M | $133M | $69M | |
| Net Stock Activity | · | $0 | · | · | · | $-790M | · | · | · | $-74M | · | · | · | $-101M | · | · | |
| Financing Cash Flow | $873M | $423M | $202M | $-444M | $342M | $318M | $-219M | $-188M | $-207M | $354M | $-132M | $237M | $425M | $1.04B | $-422M | $310M | |
| Net Change in Cash | $534M | $-438M | $197M | $-50M | $254M | $-160M | $125M | $-466M | $-303M | $-148M | $113M | $-2M | $239M | $21M | $158M | $447M | |
| Free Cash Flow | · | $-368M | · | · | · | $-514M | · | · | · | $-187M | · | · | · | $-4M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 27.0% | 23.5% | · | 26.5% | 23.8% | 24.7% | · | 29.5% | 25.0% | 25.2% | · | 26.9% | 25.7% | 25.2% | · | 3.5% | |
| Net Margin | 14.4% | 11.5% | · | 11.6% | 10.3% | 11.2% | · | 15.5% | 11.4% | 10.1% | · | 2.8% | 15.3% | 11.1% | · | -7.2% | |
| Pretax Margin | 20.0% | 16.1% | · | 16.8% | 14.2% | 15.8% | · | 21.2% | 15.8% | 13.8% | · | 6.8% | 19.0% | 16.1% | · | -7.0% | |
| EBITDA Margin | 27.0% | 35.6% | · | 26.5% | 23.8% | 37.5% | · | 29.5% | 25.0% | 37.2% | · | 26.9% | 25.7% | 36.1% | · | 3.5% | |
| ROA | 0.70% | 0.53% | · | 0.57% | 0.47% | 0.50% | · | 0.74% | 0.56% | 0.48% | · | 0.14% | 0.74% | 0.57% | · | -0.41% | |
| ROE | 9.3% | 7.4% | · | 5.7% | 4.9% | 5.5% | · | 6.1% | 4.3% | 3.8% | · | 1.1% | 5.3% | 3.8% | · | -2.5% | |
| ROIC | 2.2% | 1.7% | · | 2.0% | 1.8% | 1.7% | · | 2.3% | 2.0% | 2.0% | · | 1.4% | 2.6% | 2.3% | · | 0.49% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.0 | 1.1 | · | 1.0 | 1.0 | 1.1 | · | 1.1 | |
| Quick Ratio | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.4 | 0.5 | · | 0.4 | 0.4 | 0.5 | · | 0.3 | |
| Debt / Equity | 4.0 | 4.2 | · | 4.5 | 5.6 | 7.0 | · | 2.8 | 2.4 | 2.4 | · | 2.2 | 1.9 | 1.7 | · | 1.7 | |
| LT Debt / Equity | 2.6 | 2.8 | · | 3.3 | 4.0 | 5.1 | · | 1.9 | 1.7 | 1.7 | · | 1.6 | 1.4 | 1.6 | · | 1.6 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.6 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.1 | · | 0.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $39.20 | $36.73 | · | $32.61 | $28.53 | $23.70 | · | $42.15 | $42.98 | $42.43 | · | $39.73 | $41.23 | $39.03 | · | $36.96 | |
| Revenue / Share | $21.59 | $19.25 | · | $19.88 | $19.17 | $16.16 | · | $16.31 | $16.04 | $15.39 | · | $15.01 | $14.32 | $14.04 | · | $13.93 | |
| Cash Flow / Share | · | $-9.45 | · | · | · | $-12.22 | · | · | · | $-3.62 | · | · | · | $0.62 | · | · | |
| Cash / Share | $33.86 | $18.26 | · | $23.70 | $22.52 | $17.84 | · | $13.45 | $16.45 | $18.61 | · | $22.43 | $21.01 | $21.54 | · | $17.21 | |
| EPS (TTM) | $10.01 | $8.88 | · | $7.69 | $7.91 | $7.76 | · | $7.88 | $5.78 | $6.15 | · | $6.21 | $4.79 | $3.35 | · | $2.22 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.79B | $2.70B | · | $2.62B | $2.60B | $2.61B | · | $2.65B | $2.64B | $2.59B | · | $2.50B | $2.47B | $2.44B | · | $2.23B | |
| Net Income TTM | $351M | $310M | · | $284M | $306M | $315M | · | $331M | $246M | $264M | · | $270M | $208M | $147M | · | $130M | |
| Market Cap | $4.84B | $5.31B | · | $5.40B | $5.04B | $5.37B | · | $8.35B | $7.35B | $9.95B | · | $8.03B | $7.81B | $7.87B | · | $5.60B | |
| Enterprise Value | $4.15B | $5.19B | · | $5.54B | $5.62B | $6.57B | · | $8.72B | $7.61B | $10.12B | · | $8.11B | $7.54B | $7.39B | · | $6.26B | |
| P/E | 14.1 | 17.2 | · | 20.5 | 18.6 | 20.2 | · | 26.6 | 30.6 | 38.6 | · | 30.3 | 38.0 | 54.9 | · | 57.2 | |
| P/S | 1.7 | 2.0 | · | 2.1 | 1.9 | 2.1 | · | 3.1 | 2.8 | 3.8 | · | 3.2 | 3.2 | 3.2 | · | 2.5 | |
| P/B | 3.6 | 4.2 | · | 4.8 | 5.1 | 6.6 | · | 5.0 | 4.1 | 5.6 | · | 4.7 | 4.4 | 4.7 | · | 3.4 | |
| P / Cash Flow | · | -16.1 | · | · | · | -11.2 | · | · | · | -64.9 | · | · | · | 290.4 | · | · | |
| EV / Revenue | 1.5 | 1.9 | · | 2.1 | 2.2 | 2.5 | · | 3.3 | 2.9 | 3.9 | · | 3.2 | 3.1 | 3.0 | · | 2.8 | |
| Earnings Yield | 7.1% | 5.8% | · | 4.9% | 5.4% | 4.9% | · | 3.8% | 3.3% | 2.6% | · | 3.3% | 2.6% | 1.8% | · | 1.8% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $2.66B | $2.63B | $2.55B | $2.35B | $1.85B |
| Operating Margin % | 24.9% | 26.1% | 25.4% | 20.0% | 18.5% |
| Net Income | $304M | $310M | $267M | $167M | $135M |
| Diluted EPS | $8.47 | $7.50 | $6.16 | $4.50 | $0.00 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 4.0 | 3.0 | 2.2 | 1.7 | 1.6 |
| Current Ratio | 1.0 | 1.0 | 1.0 | 1.1 | 1.2 |
| Quick Ratio | 0.6 | 0.5 | 0.5 | 0.4 | 0.3 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $314M | $334M | $764M | $567M | $64M |
Institutional owners (13F) 444 filers · $6.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
444
Value held
$6.1B
New positions
71
Exited positions
77
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 71 (-15 vs prior Q) | 77 (+24 vs prior Q) | 119 (-51 vs prior Q) | 163 (+50 vs prior Q) | -3.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| JANUS HENDERSON GROUP PLC | $599,313,395 | 3,916,073 | 9.79% | Shares |
| VANGUARD GROUP INC | $480,064,958 | 3,222,345 | 7.84% | Shares |
| BlackRock, Inc. | $446,832,735 | 3,167,005 | 7.30% | Shares |
| PAR CAPITAL MANAGEMENT INC | $318,155,693 | 2,254,984 | 5.20% | Shares |
| MORGAN STANLEY | $275,026,397 | 1,949,295 | 4.49% | Shares |
| FMR LLC | $254,157,424 | 1,801,385 | 4.15% | Shares |
| Impactive Capital LP | $240,876,326 | 1,707,253 | 3.94% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $213,555,517 | 1,513,612 | 3.49% | Shares |
| Boston Partners | $210,775,703 | 1,493,028 | 3.44% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $201,866,634 | 1,430,765 | 3.30% | Shares |
| STATE STREET CORP | $159,887,139 | 1,133,228 | 2.61% | Shares |
| EARNEST PARTNERS LLC | $120,966,757 | 857,373 | 1.98% | Shares |
| BANK OF AMERICA CORP /DE/ | $115,086,411 | 815,695 | 1.88% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $110,395,599 | 671,582 | 1.80% | Shares |
| LYRICAL ASSET MANAGEMENT LP | $108,713,231 | 770,524 | 1.78% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $103,479,172 | 733,560 | 1.69% | Shares |
| TURTLE CREEK ASSET MANAGEMENT INC. | $102,725,936 | 728,088 | 1.68% | Shares |
| CITADEL ADVISORS LLC | $82,225,277 | 582,786 | 1.34% | Shares |
| SEI INVESTMENTS CO | $77,547,480 | 549,632 | 1.27% | Shares |
| Capital World Investors | $77,272,453 | 547,682 | 1.26% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $68,792,521 | 487,579 | 1.12% | Shares |
| SNYDER CAPITAL MANAGEMENT L P | $65,782,366 | 466,244 | 1.07% | Shares |
| NEW SOUTH CAPITAL MANAGEMENT INC | $62,732,000 | 444,624 | 1.03% | Shares |
| River Road Asset Management, LLC | $59,951,257 | 424,915 | 0.98% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $54,598,726 | 386,978 | 0.89% | Shares |
| JPMORGAN CHASE & CO | $52,335,547 | 381,242 | 0.86% | Shares |
| NORGES BANK | $51,513,229 | 365,109 | 0.84% | Shares |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA | $51,399,139 | 364,301 | 0.84% | Shares |
| NORTHERN TRUST CORP | $49,617,402 | 351,672 | 0.81% | Shares |
| FEDERATED HERMES, INC. | $49,273,284 | 349,233 | 0.81% | Shares |
| UBS Group AG | $48,303,996 | 342,363 | 0.79% | Shares |
| ARIEL INVESTMENTS, LLC | $46,754,828 | 331,383 | 0.76% | Shares |
| Gotham Asset Management, LLC | $44,781,966 | 317,400 | 0.73% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $43,288,670 | 306,816 | 0.71% | Shares |
| HAWK RIDGE CAPITAL MANAGEMENT LP | $34,625,038 | 245,411 | 0.57% | Shares |
| Solel Partners LP | $31,376,582 | 222,387 | 0.51% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $30,862,450 | 218,743 | 0.50% | Shares |
| Bank of New York Mellon Corp | $30,672,469 | 217,396 | 0.50% | Shares |
| Sunriver Management LLC | $28,573,265 | 202,518 | 0.47% | Shares |
| LAKEWOOD CAPITAL MANAGEMENT, LP | $28,354,575 | 200,968 | 0.46% | Shares |
| NEUBERGER BERMAN GROUP LLC | $28,218,423 | 200,003 | 0.46% | Shares |
| Quantinno Capital Management LP | $26,200,766 | 185,702 | 0.43% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $25,438,527 | 180,300 | 0.42% | Call option |
| RICE HALL JAMES & ASSOCIATES, LLC | $25,199,521 | 178,606 | 0.41% | Shares |
| Incline Global Management LLC | $24,679,745 | 174,922 | 0.40% | Shares |
| LOOMIS SAYLES & CO L P | $24,081,923 | 170,685 | 0.39% | Shares |
| Meridiem Capital Partners LP | $22,683,886 | 160,776 | 0.37% | Shares |
| GOLDMAN SACHS GROUP INC | $21,589,543 | 153,020 | 0.35% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $19,226,567 | 125,631 | 0.31% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $18,375,051 | 134,942 | 0.30% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Impactive Capital LP, Impactive Capital LLC, Wolfe Lauren Taylor, Asmar Christian, Kurt P. Adams, Ellen R. Alemany, Alemany October 2025 GRAT No. 1 ×7 filings | April 1, 2026 | 4.90% | Amendment | Board campaign | SEC |
| Mustang HoldCo II LLC, Warburg Pincus Private Equity (Lexington) XI – A, L.P., WP (Lexington) Holdings II, L.P., Warburg Pincus XI (Lexington) Partners – A, L.P., Warburg Pincus XI (E&P) Partners - B, L.P., WP Mustang Co-Invest LLC, WP Mustang Co-Invest-B L.P., WP Mustang Co-Invest-C L.P., Warburg Pincus (E&P) XI, L.P., Warburg Pincus (E&P) XI LLC, Warburg Pincus Partners (E&P) XI LLC, Warburg Pincus Partners II (US), L.P., Warburg Pincus & Company US, LLC, Warburg Pincus (Bermuda) XI, Ltd., Warburg Pincus Partners II (Cayman), L.P., Warburg Pincus (Bermuda) Private Equity GP Ltd., Warburg Pincus LLC, Charles R. Kaye, Joseph P. Landy ×2 filings | Aug. 16, 2017 | · | Initial filing | M&A / sale | SEC |
| Mustang HoldCo 1 LLC, Warburg Pincus Private Equity (Lexington) XI – A, L.P., WP (Lexington) Holdings II, L.P., Warburg Pincus XI (Lexington) Partners – A, L.P., Warburg Pincus XI (E&P) Partners - B, L.P., WP Mustang Co-Invest LLC, WP Mustang Co-Invest-B L.P., WP Mustang Co-Invest-C L.P., Warburg Pincus (E&P) XI, L.P., Warburg Pincus (E&P) XI LLC, Warburg Pincus Partners (E&P) XI LLC, Warburg Pincus Partners II (US), L.P., Warburg Pincus & Company US, LLC, Warburg Pincus (Bermuda) XI, Ltd., Warburg Pincus Partners II (Cayman), L.P., Warburg Pincus (Bermuda) Private Equity GP Ltd., Warburg Pincus LLC, Charles R. Kaye, Joseph P. Landy | July 12, 2016 | · | Initial filing | M&A / sale | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 55 insiders · 11 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Melissa D Goodwin | CEO and President | Sept. 1, 2026 M | 126,625 | 0 | 4 | $-5,343,286 |
| Jagtar Narula | Chief Financial Officer | March 16, 2026 A | 26,851 | 0 | 0 | $0 |
| Joel Alan Dearborn JR | COO, International | Sept. 14, 2026 M | 17,021 | 0 | 9 | $-1,813,589 |
| Carlos Carriedo | COO, Amer. Payments & Mobility | Aug. 4, 2026 S | 11,076 | 0 | 2 | $-451,792 |
| Robert Joseph Deshaies | COO, Benefits | July 30, 2026 S | 19,288 | 0 | 13 | $-1,538,610 |
| Jennifer Kimball | Chief Accounting Officer | July 27, 2026 S | 4,916 | 0 | 4 | $-411,849 |
| Ann Elena Drew | Chief Risk and Compliance | July 27, 2026 S | 7,988 | 0 | 1 | $-598,468 |
| Sara Trickett | Chief Legal Officer | June 17, 2026 M | 3,595 | 0 | 1 | $-272,159 |
| Karen B. Stroup | Chief Digital Officer | March 16, 2026 A | 22,285 | 0 | 0 | $0 |
| Sandra D. Kuohn | Chief People Officer | March 16, 2026 A | · | 0 | 0 | $0 |
| Sachin Dhawan | Chief Technology Officer | March 16, 2026 A | 15,159 | 0 | 0 | $0 |
| Kurt Patrick Adams | Director | Sept. 30, 2026 A | 504 | 0 | 0 | $0 |
| Don Callahan | Director | Sept. 30, 2026 A | 12,418 | 0 | 0 | $0 |
| James R Groch | Director | Sept. 30, 2026 A | 18,298 | 1 | 0 | $214,425 |
| Aimee Cardwell | Director | May 15, 2026 M | 3,007 | 0 | 0 | $0 |
| Derrick A. Roman | Director | May 15, 2026 M | 6,434 | 0 | 0 | $0 |
| Stephen Montgomery Smith | Director | May 15, 2026 M | 9,538 | 1 | 0 | $144,250 |
| Susan Sobbott | Director | May 15, 2026 M | 7,881 | 0 | 0 | $0 |
| Ellen R. Alemany | Director | May 14, 2026 A | · | 0 | 0 | $0 |
| David B Foss | · | May 14, 2026 A | · | 0 | 0 | $0 |
| Nancy A. Altobello | · | May 15, 2025 A | 4,387 | 0 | 0 | $0 |
| James Neary | · | May 15, 2025 A | 8,183 | 0 | 0 | $0 |
| Jack Vanwoerkom | · | May 15, 2025 A | 10,426 | 0 | 0 | $0 |
| Shikhar Ghosh | · | May 15, 2025 A | 49,727 | 0 | 0 | $0 |
| Melanie J Tinto | · | Feb. 20, 2025 A | 5,218 | 0 | 0 | $0 |
| Hilary A Rapkin | · | May 7, 2024 G | 14,232 | 0 | 0 | $0 |
| David G Cooper | · | June 26, 2023 F | 9,505 | 0 | 0 | $0 |
| Regina O Sommer | · | May 12, 2023 M | 15,302 | 0 | 0 | $0 |
| Bhavana Bartholf | · | June 4, 2022 M | 1,250 | 0 | 0 | $0 |
| John E. Bachman | · | May 14, 2021 M | 4,286 | 0 | 0 | $0 |
| Roberto Simon | · | April 7, 2021 M | 12,421 | 0 | 0 | $0 |
| Scott Robert Phillips | · | April 5, 2021 M | 7,358 | 0 | 0 | $0 |
| Kenneth Janosick | · | Nov. 10, 2020 M | 11,304 | 0 | 0 | $0 |
| Nicola S Morris | · | June 24, 2020 A | 14,884 | 0 | 0 | $0 |
| Michael E Dubyak | · | May 9, 2020 M | 33,041 | 0 | 0 | $0 |
| Rowland Moriarty | · | May 9, 2020 M | 13,585 | 0 | 0 | $0 |
| Jeffrey Alan Young | · | March 20, 2019 M | 13,855 | 0 | 0 | $0 |
| George L Mctavish | · | May 12, 2018 M | 35,222 | 0 | 0 | $0 |
| Kirk P Pond | · | May 11, 2018 A | 32,873 | 0 | 0 | $0 |
| George W Hogan | · | July 12, 2017 S | 15,615 | 0 | 0 | $0 |
| Eric Duprat | · | May 12, 2017 M | 2,856 | 0 | 0 | $0 |
| Ronald T Maheu | · | May 12, 2017 M | 19,924 | 0 | 0 | $0 |
| James Edward Pratt | · | May 10, 2017 A | 4,098 | 0 | 0 | $0 |
| Stephen R. Crowley | · | Aug. 2, 2016 S | 0 | 0 | 0 | $0 |
| Steven Alan Elder | · | Feb. 26, 2016 A | 11,375 | 0 | 0 | $0 |
| Alison Vanderhoof | · | March 15, 2015 A | 794 | 0 | 0 | $0 |
| David D Maxsimic | · | May 1, 2014 S | 16,140 | 0 | 0 | $0 |
| Gregory Scott Strzegowski | · | Aug. 7, 2013 S | 9,928 | 0 | 0 | $0 |
| Richard K. Stecklair | · | May 6, 2013 S | 0 | 0 | 0 | $0 |
| Jamie Morin-Reynolds | · | April 1, 2013 S | 6,861 | 0 | 0 | $0 |
| Robert C Cornett | · | Nov. 30, 2012 S | 2,555 | 0 | 0 | $0 |
| Gareth John Gumbley | · | March 28, 2012 A | 889 | 0 | 0 | $0 |
| Tod A Demeter | · | Nov. 5, 2007 S | 7,695 | 0 | 0 | $0 |
| Katherine M Greenleaf | · | Nov. 30, 2006 M | 22,997 | 0 | 0 | $0 |
| Scott W Roberts | · | Feb. 22, 2005 A | 14,453 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 64 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| EPSB · Harbor ETF Trust | 1.36% | 349 NS | July 31, 2026 | N-PORT |
| EPSV · Harbor ETF Trust | 1.27% | 413 NS | July 31, 2026 | N-PORT |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.59% | 23,559 NS | July 31, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.55% | 44,285 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.39% | 26,652 NS | July 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.26% | 1,219 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.24% | 8,902 NS | July 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.20% | 14,601 NS | July 31, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.20% | 4,733 SH | Oct. 1, 2026 | Daily |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.19% | 2,296 NS | July 31, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.18% | 3,809 NS | July 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.15% | 20,182 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.15% | 21,556 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.14% | 114,925 NS | July 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.14% | 509 NS | July 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.13% | 55,937 SH | Aug. 19, 2026 | Daily |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.12% | 12,212 SH | Aug. 19, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.11% | 7,860 SH | Oct. 1, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.10% | 478,553 SH | Aug. 19, 2026 | Daily |
| SMMD · iShares Trust | 0.09% | 18,158 SH | Sept. 11, 2026 | Daily |
| IYJ · iShares Trust | 0.08% | 8,067 SH | Sept. 11, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.07% | 8,616 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.06% | 7,110 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.06% | 397,500 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.06% | 755,872 SH | Aug. 19, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.06% | 3,850 SH | Aug. 19, 2026 | Daily |
| IWS · iShares Trust | 0.06% | 47,164 SH | Sept. 11, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.06% | 508 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.06% | 1,960 SH | Sept. 11, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.05% | 53,696 SH | Aug. 19, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.05% | 1,441 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.05% | 8,610 NS | July 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.05% | 138,976 SH | Sept. 11, 2026 | Daily |
| TECB · iShares Trust | 0.04% | 1,116 SH | Sept. 11, 2026 | Daily |
| HELO · J.P. Morgan Exchange-Traded Fund Tr… | 0.04% | 9,993 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.04% | 4,912 NS | July 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.04% | 1,846 SH | Oct. 1, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.03% | 76,783 NS | July 31, 2026 | N-PORT |
| IWD · iShares Trust | 0.02% | 70,614 SH | Sept. 11, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.02% | 10,199 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.01% | 8,676 SH | Oct. 1, 2026 | Daily |
| IWP · iShares Trust | 0.01% | 13,414 SH | Sept. 11, 2026 | Daily |
| IUSG · iShares Trust | 0.01% | 18,026 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 1,046,700 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.01% | 5,600 SH | Aug. 19, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 19,175 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 2,892 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 7,737 SH | Aug. 19, 2026 | Daily |
| IWB · iShares Trust | 0.01% | 25,031 SH | Sept. 11, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.01% | 10,634 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.01% | 46,140 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.01% | 1,464 SH | Sept. 11, 2026 | Daily |
| IUSV · iShares Trust | 0.01% | 12,914 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 9,311 SH | Sept. 11, 2026 | Daily |
| IWF · iShares Trust | 0.00% | 11,524 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 27,706 SH | Aug. 19, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,187 SH | Aug. 19, 2026 | Daily |
| IJH · iShares Trust | · | 1,216,082 SH | Sept. 11, 2026 | Daily |
| IJK · iShares Trust | · | 118,540 SH | Sept. 11, 2026 | Daily |
| IJJ · iShares Trust | · | 72,477 SH | Aug. 21, 2026 | Daily |
| XJH · iShares Trust | · | 4,736 SH | Sept. 8, 2026 | Daily |
| ISCB · iShares Trust | · | 1,470 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 7,261 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 18,817 SH | Sept. 11, 2026 | Daily |
WEX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 19 analysts
BUY
Median target
$195.00
+15.3%
3 15.8%
Strong Buy
5 26.3%
Buy
11 57.9%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
11 analysts · 2026-09-30Mean target $195.36 +15.5%
← Below all targets
Current price $169.10
Low$172.00
Mean$195.36
High$224.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| WEX | $5.11B | 17.6 | 1.2% | 11.4% | 27.5% | · |
| GPN | $18.32B | 13.4 | -0.39% | 18.2% | 6.2% | · |
| TOST | $20.92B | 63.4 | 24.1% | 5.6% | 17.3% | 25.9% |
| FIS | $42.27B | 91.0 | 5.4% | 3.6% | 2.6% | 36.9% |
| CHYM | $0 | -5.9 | 30.7% | -46.2% | -71.4% | 88.0% |
| JKHY | $14.41B | 19.7 | 7.1% | 19.8% | 24.0% | · |
| RELY | $2.91B | 44.5 | 29.4% | 4.2% | 8.3% | · |
| PAY | · | 60.8 | 37.2% | 5.6% | 12.4% | 24.8% |
| SEZL | · | 17.1 | 66.1% | · | · | · |
| NATL | $2.81B | 17.8 | 1.1% | 3.7% | 52.1% | · |
| FOUR | · | · | 25.5% | 2.9% | 10.6% | · |
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Source: SEC 10-Q filed Jul 23, 2026