WEX (BSP:W2EX34) Cyclically Adjusted PS Ratio: 3.06 (As of Jul. 25, 2026) — 45% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:W2EX34 WEX Inc BSP:W2EX34
62 GF Score
Price R$57.04
GF Value R$70.88
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is WEX Cyclically Adjusted PS Ratio?

WEX BSP:W2EX34 62 Cyclically Adjusted PS Ratio is 3.06 as of Jul. 25, 2026, which is 45% below its 10-year median of 5.60. GuruFocus rates BSP:W2EX34 with a GF Score™ of 62/100 and a GF Value™ of R$70.88 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,593 Software companies, WEX ranks worse than 67.04% on this metric.

As of today (2026-07-25), WEX's current share price is R$57.04. WEX's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was R$18.66. WEX's Cyclically Adjusted PS Ratio for today is 3.06.

The historical rank and industry rank for WEX's Cyclically Adjusted PS Ratio or its related term are showing as below:

BSP:W2EX34' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.36   Med: 5.6   Max: 10.16
Current: 3.14

During the past years, WEX's highest Cyclically Adjusted PS Ratio was 10.16. The lowest was 2.36. And the median was 5.60.

BSP:W2EX34's Cyclically Adjusted PS Ratio is ranked worse than
67.04% of 1593 companies
in the Software industry
Industry Median: 1.62 vs BSP:W2EX34: 3.14

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

WEX's adjusted revenue per share data for the three months ended in Jun. 2026 was R$110.645. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is R$18.66 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


WEX  (BSP:W2EX34) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


WEX Cyclically Adjusted PS Ratio Related Terms


WEX Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for WEX's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

WEX Cyclically Adjusted PS Ratio Chart

WEX Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.46 4.46 4.69 3.79 2.87

WEX Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.98 3.09 2.87 2.83 2.52

BSP:W2EX34 vs ZETA, RELY, GTLB: Cyclically Adjusted PS Ratio Comparison

For the Software - Infrastructure subindustry, WEX's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


WEX Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, WEX's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where WEX's Cyclically Adjusted PS Ratio falls into.


BSP:W2EX34
62GF Score
WEX Inc BSP:W2EX34
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

WEX Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

WEX's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=57.04/18.66
=3.06

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

WEX's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, WEX's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=110.645/333.9520*333.9520
=110.645

Current CPI (Jun. 2026) = 333.9520.

WEX Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 21.836 241.428 30.204
201612 22.189 241.432 30.692
201703 21.133 243.801 28.947
201706 23.256 244.955 31.705
201709 23.548 246.819 31.861
201712 25.152 246.524 34.072
201803 26.717 249.554 35.753
201806 32.110 251.989 42.554
201809 36.421 252.439 48.181
201812 33.936 251.233 45.110
201903 33.661 254.202 44.221
201906 38.927 256.143 50.752
201909 43.250 256.759 56.253
201912 41.114 256.974 53.430
202003 48.583 258.115 62.857
202006 41.134 257.797 53.285
202009 46.720 260.280 59.944
202012 46.432 260.474 59.530
202103 52.199 264.877 65.812
202106 51.588 271.696 63.409
202109 56.285 274.310 68.523
202112 62.256 278.802 74.571
202203 56.850 287.504 66.034
202206 66.952 296.311 75.457
202209 73.090 296.808 82.237
202212 74.094 296.797 83.370
202303 73.112 301.836 80.891
202306 69.484 305.109 76.053
202309 74.126 307.789 80.427
202312 76.113 306.746 82.864
202403 76.658 312.332 81.964
202406 86.370 314.175 91.807
202409 90.329 315.301 95.672
202412 96.840 315.605 102.470
202503 93.036 319.799 97.153
202506 106.338 322.561 110.093
202509 106.597 324.800 109.601
202512 104.874 324.054 108.077
202603 100.677 330.213 101.817
202606 110.645 333.952 110.645

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 3.06 mean?
WEX (BSP:W2EX34) has a Cyclically Adjusted PS Ratio of 3.06 as of Jul. 25, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on WEX and its competitors. This is 45% below median its historical median of 5.60. Over the past decade, WEX's Cyclically Adjusted PS Ratio has ranged from 2.36 to 10.16. According to the industry distribution chart, WEX ranks #1068 out of 1593 companies in the Software industry, placing it in the top 67%.
Is WEX's Cyclically Adjusted PS Ratio too high?
WEX's current Cyclically Adjusted PS Ratio of 3.06 is 45% below median its 10-year median of 5.60. Over the past 10 years, this metric has ranged from a low of 2.36 to a high of 10.16. The Software industry median Cyclically Adjusted PS Ratio is 1.62. WEX's value of 3.06 is 88.9% above this industry median. Based on the distribution chart, WEX ranks #1068 out of 1593 companies in the Software industry, which is below the industry midpoint. Overall, WEX has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does WEX's Cyclically Adjusted PS Ratio compare to ZETA and RELY?
According to the Software industry distribution chart, WEX ranks #1068 out of 1593 companies for Cyclically Adjusted PS Ratio. This places WEX in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.62. WEX's value of 3.06 is 88.9% above this benchmark. Historically, WEX's own Cyclically Adjusted PS Ratio has ranged from 2.36 to 10.16 over the past decade. While the company's 10-year median is 5.60 vs. the industry median of 1.62, WEX has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Software company?
The median Cyclically Adjusted PS Ratio among Software companies is 1.62, based on 1,593 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WEX's current Cyclically Adjusted PS Ratio of 3.06 is 88.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on WEX and its competitors. For the Software industry, the median Cyclically Adjusted PS Ratio is 1.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WEX's current Cyclically Adjusted PS Ratio is 3.06, which is 45% below median its own 10-year median of 5.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WEX stock overvalued right now?
Based on GuruFocus' analysis, WEX (BSP:W2EX34) is currently considered Modestly Undervalued. The stock's GF Value™ is R$70.88, compared to a current price of R$57.04 — trading 19.5% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 3.06, which is 45% below median its 10-year median of 5.60 and 88.9% above the Software industry median of 1.62. WEX's overall GF Score™ is 62/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For WEX (BSP:W2EX34), the current Cyclically Adjusted PS Ratio is 3.06 as of Jul. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is WEX (BSP:W2EX34) Overvalued in 2026?

Based on GuruFocus' analysis, WEX stock appears to be undervalued. The current stock price of R$57.04 is trading 19.5% below its estimated GF Value™ of R$70.88. GuruFocus considers WEX to be Modestly Undervalued.

Key valuation signals for BSP:W2EX34:

  • Cyclically Adjusted PS Ratio: 3.06 (45% below median its 10-year median of 5.60)
  • GF Value™: R$70.88 vs. price of R$57.04 (19.5% below fair value)
  • GF Score™: 62/100 with 4 warning signs
  • Industry Position: 88.9% above the Software median (#1068 of 1593)

No single metric tells the full story. See the BSP:W2EX34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


WEX Business Description

Other Exchanges WEX:USAWL9:Germany
Address 1 Hancock Street, Portland, ME, USA, 04101
WEX Inc is a commerce platform that provides seamlessly embedded, personalized payments solutions. The company operates three business segments: Mobility, Benefits, and Corporate Payments. Mobility segment, the top segment by revenue, provides fleet vehicle payment solutions, transaction processing, and information management services for commercial and government fleets. The Corporate Payments segment offers business-to-business payment processing and transaction monitoring services. The Benefits segment generates revenue from healthcare payment products and its consumer-directed software platform. Its prime end market is the United States of America.
62GF Score

Get the complete analysis for BSP:W2EX34

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$57.04
Price
R$70.88
GF Value