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Held by 409 of 5,944 reporting institutions (96th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $195.18 today, the market must believe free cash flow compounds 9.4%/yr for a decade (off $471M normalized FCF).
The market's 9.4% is more conservative than its 8-yr track record.
2-stage DCF · 0.03B shares · net debt $4.0B
mean 58.1% · volatility σ 188% · implied rate exceeded in 4/7 yrs
Central path = implied 9.4%/yr growth; shaded band = ±1σ (188%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| WEX | $6.7B | 23.0× | 10.7× | 2.5× | 1.2% | 58.6% | 11.4% | 24.6% | 5.0% | 4.9× | 409 |
Peers = companies sharing WEX's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.66B 100.0% | $2.63B 100.0% | $2.55B 100.0% | $2.35B 100.0% | $1.85B 100.0% | $1.56B 100.0% | $1.72B 100.0% | $1.49B 100.0% | $1.25B 100.0% | $1.01B 100.0% |
| Cost of Revenue | $1.10B 41.4% | $1.04B 39.5% | $973.3M 38.2% | $930.5M 39.6% | $702.1M 37.9% | $673.2M 43.2% | $659.8M 38.3% | $547.9M 36.7% | $514.3M 41.2% | $458.8M 45.3% |
| Cost of Products | — | — | — | — | — | — | — | — | $4.3M 0.3% | $3.1M 0.3% |
| Cost of Services | — | — | — | — | — | — | — | — | $149.1M 11.9% | $173.1M 17.1% |
| Selling, General & Admin | $330.2M 12.4% | $375.8M 14.3% | $428.0M 16.8% | $343.9M 14.6% | $326.9M 17.7% | $292.1M 18.7% | $275.8M 16.0% | $209.3M 14.0% | $184.3M 14.8% | $185.6M 18.3% |
| Total Operating Expenses | — | — | — | — | — | — | — | — | $1.01B 81.0% | $823.3M 81.3% |
| Operating Income | $663.9M 25.0% | $686.3M 26.1% | $647.1M 25.4% | $469.8M 20.0% | $342.0M 18.5% | -$91.7M -5.9% | $385.8M 22.4% | $380.6M 25.5% | $233.4M 18.7% | $158.5M 15.7% |
| Interest Expense | — | — | — | $130.7M 5.6% | $128.4M 6.9% | $157.1M 10.1% | $134.7M 7.8% | $105.0M 7.0% | $25.0M 2.0% | $12.4M 1.2% |
| Other Income (Expense), net | — | — | — | — | — | — | $900K 0.1% | -$800K -0.1% | $15.3M 1.2% | -$600K -0.1% |
| Pretax Income | $420.2M 15.8% | $417.8M 15.9% | $368.8M 14.5% | $260.5M 11.1% | $203.9M 11.0% | -$301.1M -19.3% | $216.5M 12.6% | $238.6M 16.0% | $174.4M 14.0% | $48.9M 4.8% |
| Income Tax Expense | $116.1M 4.4% | $108.2M 4.1% | $102.2M 4.0% | $93.1M 4.0% | $67.8M 3.7% | -$20.6M -1.3% | $61.2M 3.6% | $68.8M 4.6% | $15.4M 1.2% | $28.6M 2.8% |
| Net Income | $304.1M 11.4% | $309.6M 11.8% | $266.6M 10.5% | $167.2M 7.1% | $135.3M 7.3% | -$283.9M -18.2% | $156.3M 9.1% | $168.3M 11.3% | $160.1M 12.8% | $60.6M 6.0% |
| Per Share | ||||||||||
| EPS (Basic) | $8.57 | $7.59 | $6.23 | $4.54 | $0.00 | $-5.56 | $2.29 | $3.90 | $3.72 | $0.58 |
| EPS (Diluted) | $8.47 | $7.50 | $6.16 | $4.50 | $0.00 | $-5.56 | $2.26 | $3.86 | $3.71 | $0.57 |
| Weighted Avg Shares (Basic) | 35.5M | 40.8M | 42.8M | 44.4M | 44.7M | 43.8M | 43.3M | 43.2M | 43.0M | 40.8M |
| Weighted Avg Shares (Diluted) | 35.9M | 41.3M | 43.3M | 44.7M | 45.3M | 43.8M | 43.8M | 43.6M | 43.1M | 40.9M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $800M buybacks = $800M returned on $314M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 5%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $906M is below the $1.3B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.8% on $2.7B of debt. Interest last disclosed in FY2022 (no longer broken out).
Cash of $906M is below short-term debt of $1.3B — relies on refinancing/operations.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 34th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 36.7 | 38.3 | 43.2 | 37.9 | 39.6 | 38.2 | 39.5 | 41.4 |
| SG&A | 14.0 | 16.0 | 18.7 | 17.7 | 14.6 | 16.8 | 14.3 | 12.4 |
| Operating Income | 25.5 | 22.4 | -5.9 | 18.5 | 20.0 | 25.4 | 26.1 | 25.0 |
| Income Tax | 4.6 | 3.6 | -1.3 | 3.7 | 4.0 | 4.0 | 4.1 | 4.4 |
| Net Income | 11.3 | 9.1 | -18.2 | 7.3 | 7.1 | 10.5 | 11.8 | 11.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on WEX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.