Wex (WEX) Operating Margin (2009 - 2026)
Wex (WEX) reported Operating Margin of 23.48% for Q1 2026, down 123.0% on a YoY basis from 102.08% in Q1 2025, and down 5.0% quarter-over-quarter from 24.71% in Q4 2025.
Wex (WEX) Operating Margin (2009 - 2026) Analysis & Trends
Wex has reported Operating Margin for 18 years, with the latest figure at 23.48% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin fell 123.0% year-over-year to 23.48%; the trailing twelve-month figure through Mar 2026 stood at 24.64% (down 135.0% YoY), and the FY2025 full-year result was 24.95%, down 116.0% from the prior year.
- Operating Margin for Q1 2026 stood at 23.48%, down from 24.71% in the prior quarter.
- The five-year high for Operating Margin was 29.51% in Q3 2024, with the low at 3.46% in Q3 2022.
- Historically, Operating Margin has averaged 24.12% across 5 years, with a median of 24.96% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin sank 1743 bps — and 2023, when it surged 2339 bps.
- Wex's Operating Margin stood at 25.07% in 2022, then decreased by 5 bps to 23.9% in 2023, then increased by 3 bps to 24.71% in 2024, then increased by 0 bps to 24.71% in 2025, then declined by 5 bps to 23.48% in 2026.
- The last three Operating Margin figures came in at 23.48% (Q1 2026), 24.71% (Q4 2025), and 26.54% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,903.35 Bn | 2,825.07 Bn | 56.06 Bn | 46.33% |
| 2 | Alarum Technologies | 1,127.45 Bn | 1,113.30 Bn | 7.23 Mn | 6.91% |
| 3 | Oracle | 528.84 Bn | 490.27 Bn | 15.14 Bn | 31.79% |
| 4 | Palantir Technologies | 306.36 Bn | 298.44 Bn | 1.42 Bn | 46.18% |
| 5 | Palo Alto Networks | 194.33 Bn | 189.79 Bn | 1.91 Bn | 15.30% |
| 6 | CrowdStrike Holdings | 171.19 Bn | 168.13 Bn | 993.68 Mn | 1.06% |
| 7 | Fortinet | 108.13 Bn | 104.84 Bn | 1.49 Bn | 31.36% |
| 8 | Synopsys | 86.21 Bn | 86.09 Bn | 1.77 Bn | 8.43% |
| 9 | Cloudflare | 80.35 Bn | 79.41 Bn | 455.60 Mn | -9.69% |
| 10 | Wex | 4.66 Bn | -744.15 Mn | 393.70 Mn | 23.48% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.48% |
| Dec 31, 2025 | 24.71% |
| Sep 30, 2025 | 26.54% |
| Jun 30, 2025 | 23.77% |
| Mar 31, 2025 | 24.71% |
| Dec 31, 2024 | 24.71% |
| Sep 30, 2024 | 29.51% |
| Jun 30, 2024 | 24.96% |
| Mar 31, 2024 | 25.20% |
| Dec 31, 2023 | 23.90% |
| Sep 30, 2023 | 26.85% |
| Jun 30, 2023 | 25.66% |
| Mar 31, 2023 | 25.21% |
| Dec 31, 2022 | 25.07% |
| Sep 30, 2022 | 3.46% |
| Jun 30, 2022 | 28.60% |
| Mar 31, 2022 | 23.63% |
| Dec 31, 2021 | 21.78% |
| Sep 30, 2021 | 20.88% |
| Jun 30, 2021 | 17.91% |