analyticsFintech / HR Tech
Data as of Q1 2026
Summary Verdict
WEX: 1—PAYC: 4wins
Rule of 40
-59.6WEX
36.1PAYC
check_circlePAYC leads
Revenue Growth
-1.3%WEX
10.4%PAYC
check_circlePAYC leads
Gross Margin
40%WEX
83%PAYC
check_circlePAYC leads
FCF Margin
-58.3%WEX
25.7%PAYC
check_circlePAYC leads
Operating Margin
35.6%WEX
29.8%PAYC
check_circleWEX leads
NRR
—WEX
—PAYC
Metric
Rule of 40Efficiency score
WEX
-59.6
PAYC
36.1check_circle
Revenue GrowthYoY
WEX
-1.3%
PAYC
10.4%check_circle
Gross Margin% of revenue
WEX
40%
PAYC
83%check_circle
FCF MarginFree cash flow
WEX
-58.3%
PAYC
25.7%check_circle
Operating MarginGAAP
WEX
35.6%check_circle
PAYC
29.8%
NRRNet retention
WEX
N/A
PAYC
N/A
EV / RevenueValuation multiple
WEX
4.0x
PAYC
3.4xcheck_circle
Market CapUSD
WEX
$5.1B
PAYC
$7.5Bcheck_circle
ARR GrowthYoY
WEX
N/A
PAYC
N/A
CAC PaybackMonths to recover
WEX
N/A
PAYC
N/A
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insights
Analysis
As of Q1 2026, WEX Inc. trades at 4.0x EV/Revenue versus Paycom Software, Inc. at 3.4x. On the Rule of 40, WEX Inc. scores -59.6 compared to Paycom Software, Inc.'s 36.1, placing Paycom Software, Inc. ahead in operating efficiency. Gross margins stand at WEX Inc. 40% vs Paycom Software, Inc. 83%.