WEX vs Western Union
Western Union is the larger business, with $4.05bn of revenue in fiscal 2025 against $2.66bn for WEX (1.5 times as much). WEX grew faster (1.2% against -3.8%). Western Union kept more of each dollar of sales as profit: a net margin of 12.3% against 11.4%.
| Latest fiscal year | WEXWEX, 2025 | Western UnionWU, 2025 |
|---|---|---|
| Revenue | $2.66bn | $4.05bn |
| Revenue growth | 1.2% | -3.8% |
| Net income | $304m | $500m |
| Operating margin | — | 18.7% |
| Net margin | 11.4% | 12.3% |
| Return on equity | 22.3% | 51.9% |
| Free cash flow | $314m | $505m |
| Cash | $906m | $1.23bn |
| Total debt | $4.91bn | $2.88bn |
| Debt to equity | — | 301.2% |
| Dividend per share | — | $0.94 |
| Dividend yield | — | 15.4% |
| Share buybacks | $800m | $235m |
| Employees | 6,600 | — |
| Market value | $6.03bn | $1.95bn |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | 56 (Moderate) | 69 (Moderate) |
| Insider trades, 12 months | 2 buys, 40 sales | 1 buys, 4 sales |