← WEX Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $60.6m |
$160.3m
+164.30%
|
$169.8m
+5.93%
|
$156.3m
-7.92%
|
($283.9m)
-281.64%
|
$135.3m
+147.65%
|
$167.2m
+23.58%
|
$266.6m
+59.46%
|
$309.6m
+16.13%
|
$304.1m
-1.78%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | $57.5m |
$159.2m
+176.93%
|
$169.8m
+6.66%
|
$99.0m
-41.68%
|
($243.6m)
-346.08%
|
$137k
+100.06%
|
$201.4m
+146935.04%
|
$266.6m
+32.35%
|
$309.6m
+16.13%
|
$304.1m
-1.78%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $57.5m | $159.2m | $169.8m | $155.3m | ($280.5m) | $136.1m | $167.5m | $266.6m | $309.6m | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($3.2m) | ($1.1m) | $1.5m | ($1.0m) | $3.5m | $846k | $268k | $0 | $0 | — | — | |
| Depreciation, Depletion and Amortization | $141.7m | $203.7m | $199.8m | $237.1m | $261.9m | $272.6m | $263.9m | $276.2m | $321.3m | $331.1m | $330.2m | |
| Amortization of Debt Issuance Costs | $10.7m | $8.0m | $9.7m | $9.9m | $26.2m | $15.5m | $17.2m | $18.7m | $11.0m | $8.9m | — | |
| Amortization of Intangible Assets | $97.8m | $154k | $138.2m | $159.4m | $171.1m | $181.7m | $170.5m | $184.0m | $201.8m | $191.9m | — | |
| Capitalized Computer Software, Amortization | $27.6m | $32.6m | $38.6m | $57.8m | $72.4m | $74.2m | $78.0m | $78.7m | $109.7m | $130.6m | — | |
| Depreciation | $43.8m | $49.9m | $61.6m | $77.7m | $90.8m | $90.9m | $93.4m | $92.2m | $119.5m | $139.2m | $139.2m | |
| Debt restructuring and debt issuance cost amortization and accretion expense | $10.7m | $8.0m | $9.7m | $9.9m | $26.2m | $15.5m | $17.2m | $18.7m | $11.0m | $8.9m | — | |
| Deferred Income Tax Expense (Benefit) | $19.5m | ($888k) | $31.3m | $19.7m | ($29.3m) | $12.9m | ($60.1m) | ($21.3m) | $11.1m | $43.6m | $43.6m | |
| Deferred tax provision (benefit) | $19.5m | ($888k) | $31.3m | $19.7m | ($29.3m) | $12.9m | ($60.1m) | ($21.3m) | $11.1m | $43.6m | — | |
| Share-based Payment Arrangement, Noncash Expense | $19.7m | $30.5m | $33.9m | $45.8m | $63.9m | $74.8m | $97.9m | $127.0m | $112.2m | $100.3m | $119.9m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | $12.4m | $10.4m | $9.5m | $23.5m | $18.9m | $18.1m | $32.6m | — | — | |
| Share-based Payment Arrangement, Expense | $19.7m | $30.5m | $33.9m | $45.6m | $63.9m | $74.8m | $97.9m | $127.0m | $112.2m | $100.3m | $119.9m | |
| Stock-based compensation | $19.7m | $30.5m | $33.9m | $45.8m | $63.9m | $74.8m | $97.9m | $127.0m | $112.2m | $100.3m | $119.9m | |
| Goodwill, Impairment Loss | $0 | — | $3.2m | — | $53.4m | — | $136.5m | — | — | — | $0 | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | — | — | — | — | — | $3.6m | $0 | — | — | — | — | |
| Nonoperating Income (Expense) | ($563k) | ($15.3m) | ($800k) | $900k | — | — | — | — | — | — | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | $436.1m | $542.0m | — | — | — | — | — | — | — | — | ($400.6m) | |
| Accounts receivable and securitized accounts receivable | ($389.2m) | ($540.5m) | ($201.6m) | ($67.6m) | $592.9m | ($959.1m) | ($602.7m) | ($195.1m) | $325.2m | ($400.6m) | ($400.6m) | |
| Increase (Decrease) in Accounts Payable | $75.8m | $194.5m | ($3.6m) | $139.2m | ($183.7m) | $253.0m | $348.7m | $115.4m | ($396.3m) | ($20.1m) | ($20.1m) | |
| Accrued expenses and other current and long-term liabilities | — | — | — | — | $38.1m | $60.2m | $79.3m | $38.2m | ($224.8m) | ($28.5m) | — | |
| Accrued excise tax on stock repurchases | — | — | — | — | — | — | — | $0 | $0 | $7.3m | — | |
| Prepaid expenses and other current and other long-term assets | ($59.3m) | ($3.0m) | $68.0m | $31.3m | $6.5m | $29.8m | ($29.4m) | $44.3m | ($44.1m) | $5.2m | — | |
| Net Cash Provided by (Used in) Operating Activities | ($151.1m) |
$132.9m
+187.97%
|
$400.2m
+201.04%
|
$663.2m
+65.70%
|
$857.0m
+29.23%
|
$150.4m
-82.45%
|
$679.4m
+351.75%
|
$907.9m
+33.63%
|
$481.4m
-46.98%
|
$454.3m
-5.63%
|
$262.8m
-42.15%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $61.8m | $79.3m | $87.2m | $102.9m | $80.5m | $86.0m | $112.9m | $143.6m | $147.3m | $140.6m | ($213.0m) | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | ($4.4m) | — | — | — | — | — | |
| Capital expenditures incurred but not paid | $10.9m | $4.6m | $8.6m | $4.8m | $3.2m | $5.1m | $8.1m | $9.6m | $6.5m | $8.8m | ($213.0m) | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $495k | $631k | $266k | $230k | $181k | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Investments | — | — | ($21.9m) | ($29.8m) | ($48.0m) | $29.9m | — | — | — | — | — | |
| Purchases of equity securities and other investments | — | — | — | — | ($6.5m) | ($318k) | ($2.9m) | ($17.8m) | ($54.2m) | ($12.4m) | — | |
| Purchases of available-for-sale debt securities | — | — | — | $0 | $0 | ($994.0m) | ($658.4m) | ($1.8b) | ($1.3b) | ($1.7b) | — | |
| Sales and maturities of available-for-sale debt securities | — | — | — | $0 | $0 | $35.0m | $60.9m | $193.6m | $506.4m | $1.2b | — | |
| Purchases of available-for-sale debt securities, unsettled as of period-end | — | — | — | — | — | — | $0 | $0 | $24.5m | $0 | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | $1.1b | $114.3m | $162.8m | $882.4m | $220.7m | $558.8m | $0 | $402.0m | $900k | $0 | $0 | |
| Acquisitions, net of cash and restricted cash acquired | ($1.1b) | ($114.3m) | ($162.8m) | ($882.4m) | ($220.7m) | ($558.8m) | $0 | ($402.0m) | ($900k) | $0 | — | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | — | — | — | — | ($4.7m) | — | |
| Other investing activities | — | — | — | — | — | — | — | $4.1m | $0 | $4.7m | — | |
| Net cash used for investing activities | ($1.2b) | ($163.5m) | ($254.2m) | ($990.6m) | ($329.1m) | ($1.6b) | ($716.7m) | ($2.1b) | ($960.6m) | ($696.9m) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($1.2b) | ($163.5m) | ($254.2m) | ($990.6m) | ($329.1m) | ($1.6b) | ($716.7m) | ($2.1b) | ($960.6m) | ($696.9m) | ($1.1b) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | ($2.0m) | — | — | ($1.3m) | — | ($3.4m) | — | ($70.1m) | $0 | $0 | — | |
| Net activity on other short-term debt | $62.5m | $68.5m | ($62.3m) | ($43.1m) | ($66.9m) | ($18.5m) | $37.5m | $58.9m | ($67.4m) | $21.9m | — | |
| Borrowings on revolving credit facility | $3.5b | $4.4b | $1.6b | $1.3b | $300.0m | $1.6b | $2.4b | $3.4b | $8.7b | $10.1b | — | |
| Borrowings on term loans | $1.6b | $0 | $178.0m | $689.0m | $0 | $112.8m | $0 | $0 | $68.3m | $447.8m | — | |
| Borrowings on BTFP | — | — | — | — | — | $0 | $0 | $6.0b | $1.6b | $0 | — | |
| Payments for Repurchase of Common Stock | $0 | $0 | — | — | — | — | $282.8m | $303.4m | $652.0m | $799.8m | — | |
| Proceeds from Issuance of Common Stock | — | — | — | — | $90.0m | $0 | $0 | — | — | — | $0 | |
| Repurchases of common stock | $0 | $0 | — | — | $0 | $0 | ($282.8m) | ($303.4m) | ($652.0m) | ($799.8m) | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | — | — | — | ($4.1m) | ($24.1m) | ($40.4m) | — | |
| Net cash provided by (used for) financing activities | $1.2b |
$359.4m
-70.45%
|
($102.7m)
-128.58%
|
$749.8m
+829.86%
|
($179.3m)
-123.91%
|
$1.4b
+882.83%
|
$681.3m
-51.45%
|
$1.6b
+130.94%
|
($260.3m)
-116.54%
|
$418.9m
+260.93%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | $1.2b |
$359.4m
-70.45%
|
($102.7m)
-128.58%
|
$749.8m
+829.86%
|
($179.3m)
-123.91%
|
$1.4b
+882.83%
|
$681.3m
-51.45%
|
$1.6b
+130.94%
|
($260.3m)
-116.54%
|
$418.9m
+260.93%
|
$1.1b
+151.71%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $32.6m | $426.4m | $348.3m | ($72.8m) | $602.9m | $370.3m | ($793.0m) | $241.4m | $1.8b | |
| Cash, cash equivalents and restricted cash, beginning of year | $213.3m | $522.4m | $555.0m | $981.4m | $1.3b | $1.3b | $1.9b | $2.2b | $1.4b | $1.7b | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $555.0m | $981.4m | $1.3b | $1.3b | $1.9b | $2.2b | $1.4b | $1.7b | $1.8b | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $4.0m | ($405k) | ($25.4m) | ($41.1m) | $27.4m | ($53.5m) | $65.1m | ($13.9m) | |
| Net change in restricted cash payable | — | — | — | — | $120.2m | $193.0m | $305.4m | $276.2m | ($387.7m) | ($112.3m) | — | |
| Effect of exchange rates on cash, cash equivalents and restricted cash | $2.8m | ($17.7m) | ($10.7m) | $4.0m | ($405k) | ($25.4m) | ($41.1m) | $27.4m | ($53.5m) | $65.1m | — | |
| Net change in cash, cash equivalents and restricted cash | ($82.8m) | $309.0m | $32.6m | $426.4m | $348.3m | ($72.8m) | $602.9m | $370.3m | ($793.0m) | $241.4m | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $116.3m | $128.9m | $141.5m | $176.0m | $163.3m | $132.2m | $129.4m | $247.9m | $328.5m | $333.6m | — | |
| Income Taxes Paid, Net | — | — | — | — | ($8.4m) | $50.6m | $142.8m | $130.3m | $131.9m | $44.5m | — | |
| Additional Financial Items | ||||||||||||
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | — | — | — | ($46.4m) | $0 | $0 | — | — | — | — | |
| Financing Interest Expense | $113.4m | $107.1m | $105.0m | $134.7m | $23.8m | $9.2m | $20.6m | $217.8m | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($7.7m) | $29.9m | ($38.8m) | ($926k) | ($25.8m) | ($12.3m) | ($22.7m) | $4.9m | ($26.1m) | ($200k) | — | |
| Gain (Loss) on Disposition of Intangible Assets | ($259k) | — | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) Related to Litigation Settlement | — | — | — | — | — | $0 | $0 | — | — | — | — | |
| General and Administrative Expense | — | — | $209.3m | $275.8m | $292.1m | $326.9m | $343.9m | $428.0m | $375.8m | $330.2m | — | |
| Goodwill | $1.8b | $1.9b | $1.8b | $2.4b | $2.7b | $2.9b | $2.7b | $3.0b | $3.0b | $3.0b | $0 | |
| Income Tax Expense (Benefit) | $29.6m | $19.5m | $68.8m | $61.2m | ($20.6m) | $67.8m | $93.1m | $102.2m | $108.2m | $116.1m | — | |
| Operating Expenses | $823.3m | $1.0b | — | — | — | — | — | — | — | — | — | |
| Operating Lease, Expense | — | — | — | $18.3m | $18.2m | $24.3m | $19.5m | $15.6m | $14.0m | $11.3m | — | |
| Payments of Financing Costs | — | — | — | — | $570k | — | — | — | — | — | — | |
| Proceeds from Noncontrolling Interests | — | — | — | — | — | $12.5m | $0 | — | — | — | — | |
| Proceeds from Stock Options Exercised | $300k | $733k | $2.4m | $4.9m | $9.3m | $44.2m | $5.0m | $16.1m | $17.1m | — | — | |
| Provision for Loan, Lease, and Other Losses | $33.3m | $61.1m | $66.5m | $65.7m | $78.4m | $45.1m | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | — | — | — | — | — | — | — | ($80.8m) | $0 | $0 | — | |
| Provision for credit losses | $33.3m | $61.1m | $66.5m | $65.7m | $78.4m | $45.1m | $179.9m | $89.8m | $68.2m | $78.4m | — | |
| Loss on extinguishment of Convertible Notes | $2.0m | — | — | — | — | $0 | $0 | $70.1m | $0 | $0 | — | |
| Unrealized loss on interest rate swaps | — | — | — | — | — | ($40.0m) | ($86.4m) | $80.8m | $0 | $0 | — | |
| Other non-cash adjustments | — | — | — | — | $47.6m | ($25.5m) | ($70.9m) | ($3.1m) | $12.9m | $1.8m | — | |
| Income taxes | ($14.6m) | $11.5m | ($2.1m) | ($12.3m) | $15.1m | $4.1m | $8.6m | ($8.2m) | ($31.3m) | $30.0m | — | |
| Acquisition of intangible assets | ($4.0m) | $0 | — | — | $0 | $0 | ($3.3m) | ($4.5m) | ($5.1m) | ($73.1m) | — | |
| Net change in deposits | $248.9m | $173.1m | ($20.4m) | $176.6m | ($396.1m) | $1.6b | $801.6m | $593.1m | $382.6m | $967.8m | — | |
| Advances from the FHLB | — | — | — | — | — | — | $0 | $0 | $3.2b | $18.4b | — | |
| Repayments to the FHLB | — | — | — | — | — | — | $0 | $0 | ($2.1b) | ($18.4b) | — | |
| Repayments on revolving credit facility | ($3.7b) | ($4.2b) | ($1.7b) | ($1.3b) | ($300.0m) | ($1.5b) | ($2.5b) | ($2.8b) | ($8.4b) | ($10.6b) | — | |
| Repayments on term loans | ($476.1m) | ($34.8m) | ($35.8m) | ($64.3m) | ($64.6m) | ($400.0m) | ($63.3m) | ($63.3m) | ($60.0m) | ($62.3m) | — | |
| Proceeds from issuance of Senior Notes | — | — | — | — | — | — | — | $0 | $0 | $550.0m | — | |
| Repayments on BTFP | — | — | — | — | — | $0 | $0 | ($5.2b) | ($2.3b) | $0 | — | |
| Repurchase of Convertible Notes | — | — | — | — | — | $0 | $0 | ($368.9m) | $0 | $0 | — | |
| Payments of deferred and contingent consideration | — | — | — | — | — | $0 | $0 | ($52.2m) | ($93.7m) | ($76.7m) | — | |
| Contingent/deferred consideration resulting from a business combination or asset acquisition | — | — | — | $0 | $0 | $27.2m | $0 | $8.6m | $0 | $0 | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.