WEX Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
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Consolidated Balance Sheets at and
| Table of Contents | PART II |
|---|
WEX INC. CONSOLIDATED BALANCE SHEETS
(in millions, except per share data)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Cash and cash equivalents(1) | $905.8 | $595.8 |
| Restricted cash | 772.7 | 837.8 |
| Accounts receivable, net | 3,362.6 | 3,008.6 |
| Investment securities | 4,332.9 | 3,764.7 |
| Securitized accounts receivable, restricted(1) | 123.7 | 109.6 |
| Prepaid expenses and other current assets | 215.4 | 199.0 |
| Total current assets | 9,713.0 | 8,515.5 |
| Property, equipment and capitalized software | 253.7 | 261.2 |
| Goodwill | 3,015.3 | 2,983.4 |
| Other intangible assets | 1,088.2 | 1,260.0 |
| Investment securities | 94.2 | 80.5 |
| Deferred income taxes, net | 16.9 | 18.3 |
| Other assets | 218.2 | 202.8 |
| Total assets | $14,399.5 | $13,321.6 |
| Liabilities and Stockholders’ Equity | ||
| Accounts payable | $1,070.4 | $1,090.9 |
| Accrued expenses and other current liabilities | 695.2 | 653.6 |
| Restricted cash payable | 771.5 | 837.0 |
| Short-term deposits | 5,423.1 | 4,452.7 |
| Short-term debt, net(1) | 1,326.4 | 1,293.2 |
| Total current liabilities | 9,286.6 | 8,327.3 |
| Long-term debt, net | 3,532.0 | 3,082.1 |
| Deferred income taxes, net | 187.3 | 145.6 |
| Other liabilities | 159.1 | 277.7 |
| Total liabilities | 13,165.0 | 11,832.8 |
| Commitments and contingencies (Note 19) | ||
| Stockholders’ Equity | ||
| Common stock $0.01 par value; 175.0 shares authorized; 50.7 shares issued in 2025 and 50.3 in 2024; 34.3 shares outstanding in 2025 and 39.0 in 2024 | 0.5 | 0.5 |
| Additional paid-in capital | 1,208.9 | 1,149.7 |
| Retained earnings | 2,370.8 | 2,066.8 |
| Accumulated other comprehensive loss | (128.1) | (312.3) |
| Treasury stock at cost; 16.4 and 11.3 shares in 2025 and 2024, respectively | (2,217.6) | (1,416.0) |
| Total stockholders’ equity | 1,234.5 | 1,488.8 |
| Total liabilities and stockholders’ equity | $14,399.5 | $13,321.6 |
(1) The Company’s consolidated balance sheets include assets and liabilities of consolidated VIEs. See Note 1, Basis of Presentation and Summary of Significant Accounting Policies and Note 16, Financing and Other Debt for further details.
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