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WEX (WEX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · WEX (WEX) Q3 2026 earnings results →
Q3 2026 Revenue up 13% year over year to $780M · 17¢ of every $1 of revenue kept as net profit · operating margin 30.6%
WEX made $780M in Q3 2026 (+13% Y/Y): Payment processing revenue $345M, Account servicing revenue $187M, Other revenue $133M. Operating margin 30.6%, net earnings $134M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $780.1M in Q3 2026, up 13% year over year and up 4% from the previous quarter. Payment processing revenue was the largest line at 44% of revenue. Payment processing revenue added $43.1M year over year (up 14%), 49% of the total change.
Operating profit was $238.8M, a 30.6% margin (up 4.1 points year over year). Of the extra revenue versus Q3 2025, 63% reached operating profit, above the 27% margin then. Total costs grew 7% against revenue growth of 13%. The fastest-growing cost line was Sales & marketing (+12%). Net earnings were $134.1M, up 67% year over year. The effective tax rate was 27.7%.
Operating cash flow was −$11.2M. Non-cash charges added back $85.0M of depreciation and amortization and $43.1M of share-based compensation. Working capital and other items used $273.4M. Capital expenditures of $47.0M exceeded it, leaving free cash flow of −$58.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $780M | +13% | 30.6% | $134M | −$11.2M |
| Q2 2026 | 10-Q | Jul 23, 2026 | $754M | +14% | 27.0% | $108M | −$77.6M |
| Q1 2026 | 10-Q | Apr 23, 2026 | $674M | +6% | 23.5% | $77.7M | −$331M |
| Q4 2025 | 10-K | Feb 13, 2026 | $673M | +6% | 24.7% | $84.3M | $295M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $692M | +4% | 26.5% | $80.2M | $377M |
| Q2 2025 | 10-Q | Jul 24, 2025 | $660M | -2% | 23.8% | $68.1M | $265M |
| Q1 2025 | 10-Q | May 1, 2025 | $637M | -2% | 24.7% | $71.5M | −$482M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About WEX
WEX is a global commerce platform that provides seamlessly embedded, personalized payments solutions across three business segments: Mobility, Benefits, and Corporate Payments. Our purpose is to simplify the business of running a business. That purpose has become increasingly relevant as organizations face rising complexity driven by fragmented systems, manual workflows, increasing costs, and greater compliance demands. These challenges slow decision-making and introduce additional operational risk. Leveraging our deep industry expertise, WEX has developed platforms and proprietary networks that address these issues by delivering the technologies and services that enable our customers to achieve greater speed and efficiency, cost savings, accuracy, and insight across financial and administrative workflows.
In its own words, from its 10-K, filed Feb 13, 2026.
WEX against its Services-Business Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +13%. Operating margin: 30.6% against the peers' median 15.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WEX WEX | Q3 2026 | $780M | +13% | 30.6% |
| ACN Accenture | Q4 FY26 | $18.7B | +6% | 15.3% |
| UBER Uber Technologies | Q3 2026 | $14.8B | +10% | 9.8% |
| V Visa | Q4 FY26 | $12.1B | +13% | 59.8% |
| MELI MercadoLibre | Q3 2026 | $10.8B | +45% | 6.3% |
| MA Mastercard | Q3 2026 | $9.8B | +14% | 59.8% |
| PYPL PayPal Holdings | Q3 2026 | $8.6B | +2% | 16.3% |
| FISV Fiserv | Q3 2026 | $5.2B | -1% | -105.7% |
| DASH DoorDash | Q3 2026 | $4.6B | +34% | 9.6% |
Source: WEX 10-Q on SEC EDGAR · CIK 1309108 · Services-Business Services, NEC
Guidance and outlook
13F: who owns WEX and who is buying
More on WEX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results