analyticsFintech / HR Tech
Data as of Q4 2025
Summary Verdict
WEX: 1—PAYC: 4wins
Rule of 40
15.8WEX
28.8PAYC
check_circlePAYC leads
Revenue Growth
-1.2%WEX
8.9%PAYC
check_circlePAYC leads
Gross Margin
40%WEX
83%PAYC
check_circlePAYC leads
FCF Margin
17.0%WEX
19.9%PAYC
check_circlePAYC leads
Operating Margin
36.0%WEX
27.6%PAYC
check_circleWEX leads
NRR
—WEX
—PAYC
Metric
Rule of 40Efficiency score
WEX
15.8
PAYC
28.8check_circle
Revenue GrowthYoY
WEX
-1.2%
PAYC
8.9%check_circle
Gross Margin% of revenue
WEX
40%
PAYC
83%check_circle
FCF MarginFree cash flow
WEX
17.0%
PAYC
19.9%check_circle
Operating MarginGAAP
WEX
36.0%check_circle
PAYC
27.6%
NRRNet retention
WEX
N/A
PAYC
N/A
EV / RevenueValuation multiple
WEX
4.4x
PAYC
3.4xcheck_circle
Market CapUSD
WEX
$6.1B
PAYC
$7.2Bcheck_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 Q4 2025, WEX Inc. trades at 4.4x EV/Revenue versus Paycom Software, Inc. at 3.4x. On the Rule of 40, WEX Inc. scores 15.8 compared to Paycom Software, Inc.'s 28.8, placing Paycom Software, Inc. ahead in operating efficiency. Gross margins stand at WEX Inc. 40% vs Paycom Software, Inc. 83%.