WEX FY 2018 Earnings Report — WEX Inc. Revenue & Financial Results | Market Cap Arena

FY 2018 Earnings

Reported March 20, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.2B	—	19.5%
Op. Income	$381M	—	$233M	—	63.1%
Gross Margin	63.3%	—	58.8%	—	4.5pp
Net Margin	11.3%	—	12.8%	—	-1.5pp
EPS (Diluted)	$3.86	—	$3.73	—	3.5%
Free Cash Flow	$313M	—	$54M	—	483.3%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$548M
GROSS PROFIT	$945M
R&D Expenses	$0
Selling & Marketing	$229M
General & Administrative	$209M
SG&A Expenses	$439M
Other Expenses	$126M
Operating Expenses	$564M
Cost & Expenses	$1.1B
OPERATING INCOME	$381M
Interest Income	$0
Interest Expense	$105M
Other Income/Expenses	-$142M
INCOME BEFORE TAX	$239M
Income Tax Expense	$69M
Net Income from Continuing Ops	$170M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$168M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$168M
D&A	$200M
EBIT	$344M
EBITDA	$543M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$548M
GROSS PROFIT	$945M
R&D Expenses	$0
Selling & Marketing	$229M
General & Administrative	$209M
SG&A Expenses	$439M
Other Expenses	$126M
Operating Expenses	$564M
Cost & Expenses	$1.1B
OPERATING INCOME	$381M
Interest Income	$0
Interest Expense	$105M
Other Income/Expenses	-$142M
INCOME BEFORE TAX	$239M
Income Tax Expense	$69M
Net Income from Continuing Ops	$170M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$168M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$168M
D&A	$200M
EBIT	$344M
EBITDA	$543M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$170M
Depreciation & Amortization	$200M
Stock-Based Compensation	$34M
Deferred Income Tax	$31M
Other Non-Cash Items	$105M
Change in Working Capital	-$139M
OPERATING CASH FLOW	$400M
Capital Expenditure	-$87M
Acquisitions (Net)	-$166M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$266.0K
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$254M
Net Debt Issuance	-$72M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$33M
NET CASH FROM FINANCING	-$103M
FREE CASH FLOW	$313M
Net Change in Cash	$33M

Balance Sheet

Item	Amount
Cash & Equivalents	$541M
Short-Term Investments	$0
Net Receivables	$2.6B
Inventory	$123M
Other Current Assets	$123M
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$188M
Goodwill	$1.8B
Intangible Assets	$1.0B
Long-Term Investments	$24M
Tax Assets	$10M
Other Non-Current Assets	$284M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$6.8B
Account Payables	$815M
Short-Term Debt	$217M
Deferred Revenue	$326M
Other Current Liabilities	$955M
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$152M
Other Non-Current Liabilities	$377M
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$5.0B
Common Stock	$475.0K
Additional Paid-In Capital	$593M
Retained Earnings	$1.5B
Treasury Stock	-$172M
Accum. Other Comp. Income	-$117M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$10M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$6.8B
Total Debt	$2.4B
Net Debt	$1.8B