WEX WEX margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 91

Gross margin

60.4%

Operating margin

26.6%

EBITDA margin

38.3%

Net margin

14%

Based on the latest figures, WEX reports a gross margin of 60.4%, an operating margin of 26.6%, an EBITDA margin of 38.3%, and a net margin of 14%. Net margin had the largest improvement, gaining by 3.2 percentage points, while the other available margins also increased.

WEX margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, WEX recorded average margins of 60.21% gross, 25.53% operating, 36.38% EBITDA, and 11.54% net. The current gross, operating, EBITDA, and net margins are all above their three-year averages.

WEX margin expansion

Year-over-year margin changes in percentage points

Year over year, gross, operating, EBITDA, and net margins all increased, with net margin showing the largest gain at 3.2 percentage points.

Gross margin expansion

1.3pp

Operating margin expansion

1.6pp

EBITDA margin expansion

1.7pp

Net margin expansion

3.2pp

WEX Gross margin

WEX's gross margin averaged 60.21% over the last 3 years. Compared with its three-year average, WEX's current gross margin is 60.4% and is 0.2 percentage points above its three-year average. Over the last 3 years, WEX's gross margin peaked at 61.8% in Dec 2023 and reached a low of 58.6% in Dec 2025.

WEX Operating margin

Reviewing the last 3 years, WEX recorded an average operating margin of 25.53%. Against its three-year average, WEX's operating margin is currently 26.6%, 1.1 percentage points above its three-year average. The highest operating margin for WEX was 26.6% in Sep 2026, while the lowest was 24.6% in Mar 2026.

WEX EBITDA margin

Looking back over the last 3 years, WEX recorded an average EBITDA margin of 36.38%. WEX's current EBITDA margin is 38.3% and is 1.9 percentage points above its three-year average. The highest EBITDA margin for WEX was 38.3% in Sep 2026, while the lowest was 33.2% in Mar 2024.

WEX Net margin

WEX recorded an average net margin of 11.54% across the last 3 years. Against its three-year average, WEX's net margin is currently 14%, 2.5 percentage points above its three-year average. Looking back over the last 3 years, WEX's net margin reached 14% at its highest point in Sep 2026 and 9.3% at its lowest in Jun 2024.

WEX margin group comparison

Margins compared with peer-group, industry and sector averages

WEX's gross margin of 60.4% is higher than the Technology sector, the industry and its peers average. In comparison with the Technology sector average of 52.4%, WEX's gross margin is 15% higher.

WEX margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is WEX's gross margin?

As of Sep 30, 2026, WEX has a gross margin of 60.4%.

What is WEX's operating margin?

For the period ending Sep 30, 2026, WEX recorded an operating margin of 26.6%.

What is WEX's EBITDA margin?

For the period ending Sep 30, 2026, WEX recorded an EBITDA margin of 38.3%.

What is WEX's net margin?

As of Sep 30, 2026, WEX has a net margin of 14%.

What are the average margins of WEX?

WEX's gross, operating, EBITDA, and net margins averaged 60.2% gross, 25.5% operating, 36.4% EBITDA, and 11.5% net over the last 3 years.

What are the highest historical margins of WEX?

Looking back across 5 years, WEX reached 62.1% gross in Dec 2021, 26.6% operating in Sep 2026, 38.3% EBITDA in Sep 2026, and 14% net in Sep 2026.

What are the lowest historical margins of WEX?

In the last 5 years, the lowest margins reported by WEX were 58.6% gross in Dec 2025, 18.5% operating in Dec 2021, 23% EBITDA in Mar 2023, and 5.8% net in Sep 2022.