NYSE: WEX ยท Infrastructure Software
WEX (WEX) fair value: undervalued or overvalued?
As of 19 Sep 2026, Faircurve's model values WEX (WEX) at $149.15 a share. The stock last closed at $187.31, which puts the model's fair value 20.4% below the price. On the model's bands that reads as Overvalued.
Revalued . Price is the close of 21 Sep 2026. WEX Inc.
What price range does the model give WEX?
The calibrated range for WEX over 63 trading days is $171.48 to $221.28. It sits around the last close, and its width comes from the volatility that WEX's own options imply (36% a year), calibrated weekly against realised prices (n = 2,982 past valuations, refreshed 19 Sep 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $85.07 to $229.69. In 31% of the simulations the fair value came out above the price the model ran on.
How does WEX score on business quality?
WEX's overall quality score is 34 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 55 | 9.3%ROIC | 9.7% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 0 | 0.31xFCF / net income | 1.74x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 48 | 1.2%Revenue growth, trailing | 3.6% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 13 | 1.0%Net buybacks / market value | 12.2% |
| Balance sheetNet debt to EBITDA and interest coverage. | 20 | 4.39xNet debt / EBITDA | 3.16x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 50 | 3.8 ptsEBITDA margin downside volatility, 5y | 3.2 pts |
How does WEX compare with similar companies?
The companies in infrastructure software closest to WEX in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| QLYS Qualys, Inc. | $181.03 | $200.07 | +10.5% | Fairly valued |
| PATH UiPath Inc. | $13.59 | $18.04 | +32.7% | Undervalued |
| ACIW ACI Worldwide, Inc. | $49.59 | $52.10 | +5.1% | Fairly valued |
| DBX Dropbox, Inc. | $36.01 | $44.05 | +22.3% | Undervalued |
| BOX Box, Inc. | $33.61 | $30.22 | -10.1% | Data under review |
| FOUR Shift4 Payments, Inc. | $39.37 | $44.53 | +13.1% | Low model confidence |
| GDDY GoDaddy Inc. | $104.77 | $126.69 | +20.9% | Undervalued |
| AKAM Akamai Technologies, Inc. | $117.41 | $146.71 | +25.0% | Undervalued |
All infrastructure software stocks ranked by gap to fair value
When does WEX report earnings, and how has the stock reacted?
WEX's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
Options prices on 21 Sep 2026 imply a move of about 7.4% in either direction through the nearest expiry, about 24 days out. That is the size the market is pricing, not a direction. WEX's 30 day implied volatility works out to about 10.4% over one month.
How WEX moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 7.4%.
| Report date | Two session move |
|---|---|
| 22 Jul 2026 | +6.5% |
| 22 Apr 2026 | -12.8% |
| 4 Feb 2026 | +3.0% |
| 29 Oct 2025 | -4.6% |
| 23 Jul 2025 | +8.4% |
| 30 Apr 2025 | +4.6% |
| 5 Feb 2025 | -17.5% |
| 24 Oct 2024 | -16.0% |
WEX at a glance
WEX Inc., a financial technology enterprise established in 1983 and headquartered in Portland, Maine, delivers diverse services across the United States and globally.
- Market value
- $6.6B
- Sector
- Technology
- Industry
- Infrastructure Software
- Revenue expected, next twelve months
- $2.9B
- Consensus revenue growth, next fiscal year
- +8.4%
- Analysts with estimates
- 11
- Beta to the US market
- 0.58
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model prices WEX on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 12 Sep 2026 the model's fair value for WEX was $155.01. As of 19 Sep 2026 it is $149.15, a change of -3.8%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about WEX's valuation
Is WEX stock undervalued or overvalued?
On Faircurve's model, WEX reads as Overvalued as of 19 Sep 2026. The model's fair value is $149.15 a share against a last close of $187.31, a gap of -20.4%.
What is WEX's fair value?
$149.15 a share as of 19 Sep 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $85.07 to $229.69.
What price range does the model give WEX?
$171.48 to $221.28 over 63 trading days. Ranges built this way held the price 60% of the time across 2,982 past valuations, refreshed 19 Sep 2026.
When does WEX report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has WEX moved on past earnings reports?
Across its last 8 reports the median two session move was 7.4%, ignoring direction. The largest was -17.5% around the report of 5 Feb 2025.
How confident is the model in this valuation?
Model confidence for WEX is medium. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.