How Adding Tesla Superchargers to Its Platform Has Changed WEX’s (WEX) Investment Story

• WEX recently announced the integration of over 20,000 Tesla Supercharger fast-charging points across 1,500+ locations into its platform, giving customers access through the EV Driver by WEX app and the Tesla app with unified payments and billing.
• This move addresses a major gap for high-power EV charging, particularly in underserved areas, and allows both Tesla and non-Tesla drivers to benefit from comprehensive charging and payment options on a single platform.
• We'll explore how expanding access to Tesla Superchargers positions WEX to further strengthen its leadership in the evolving electric mobility sector.

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WEX Investment Narrative Recap

For investors, belief in WEX centers on its ability to successfully pivot from traditional fuel cards into integrated digital and electric mobility payment solutions. The recent integration with Tesla’s Supercharger network extends its EV capabilities and addresses a critical short-term catalyst: maintaining relevance as fleets accelerate toward electrification. However, increased competition from established fintech and payment platforms remains a significant risk to transaction margins and future profitability, and this news does not fundamentally change that risk profile in the near-term.

One announcement particularly relevant here is WEX’s September 2025 expansion of its EV charging network through partnerships with Lynkwell and Revel. That move, coupled with the Tesla Supercharger integration, clearly highlights continued momentum in product innovation and network scale, important factors for driving transaction growth and defending market share as the energy transition unfolds.

Yet, despite these advances in digital payments, the accelerating shift away from traditional fuel cards and increasing competitive pressure from larger integrated payment platforms present risks that investors should not overlook...

Read the full narrative on WEX (it's free!)

WEX's narrative projects $3.0 billion revenue and $450.9 million earnings by 2028. This requires 4.9% yearly revenue growth and a $144.4 million earnings increase from $306.5 million.

Uncover how WEX's forecasts yield a $177.44 fair value, a 27% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members set fair value estimates between US$177 and US$329 based on two independent outlooks. While many expect product innovation to support transaction growth, earnings could still be pressured if WEX cannot preserve its margin advantage as competition intensifies, see how others view the company's prospects and risks.

Explore 2 other fair value estimates on WEX - why the stock might be worth over 2x more than the current price!

Build Your Own WEX Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your WEX research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free WEX research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate WEX's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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