WEX - WEX: Growing And Growing More Appealing
2024-01-29 09:50:31 ET
Summary
- WEX has diversified its business away from fleet solutions and into other verticals, including healthcare and travel.
- The company has steadily grown the business, as a stagnant business results in gradual valuation multiple compression.
- While appeal is growing, I am not yet willing to commit here, even as WEX ended 2023 with another bolt-on deal.
It was the summer of 2021 when I believed that WEX ( WEX ) saw continued M&A action to grow and diversify the business away from the core fleet solutions segment. At the time, the company was still anticipating a recovery post-pandemic as dealmaking efforts created some imagination with investors, leaving me not interested with the resulting demanding share price....
WEX: Growing, And Growing More Appealing