AAPL
Apple Inc.
AAPL offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
WEX
WEX Inc.
WEX has the edge over AAPL overall, supported by stronger valuation and stronger modeled upside.
AAPL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
AAPL's revenue, profitability, cash flow and balance sheet are all currently healthy.
WEX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Weak | |
| Weak |
WEX's revenue and profitability are currently healthy, but its cash flow and balance sheet are weak.
AAPL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 26x | $230 | -35% |
| Fair | 31x | $279 | -21% |
| Expensive | 37x | $328 | -7.5% |
| Forward | 38x | $355 | — |
| Current | 40x | $355 | — |
Historical ranges are pointers, not guarantees.
AAPL's PE is in its expensive range at 40x. If earnings grow as analysts expect, today's price would be 38x next year's earnings.
WEX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 7.9x | $179 | — |
| Current | 15x | $179 | — |
| Cheap | 19x | $215 | +20% |
| Fair | 28x | $329 | +83% |
| Expensive | 53x | $610 | +240% |
Historical ranges are pointers, not guarantees.
WEX has the edge over AAPL in the historical PE scenario, which offers more potential upside but is not a forecast.
AAPL Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AAPL, but weaker profitability.
WEX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
WEX has the edge over AAPL on the outlook, with more favorable valuation and profitability expectations.
AAPL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.28 | +3.3% |
| Q3 2026 | $8.98 | +20% |
| Q2 2026 | $8.71 | +32% |
| Q1 2026 | $8.26 | +29% |
| Q4 2025 | $7.90 | +25% |
| Q3 2025 | $7.46 | +23% |
| Q2 2025 | $6.59 | +0.2% |
| Q1 2025 | $6.42 | -0.3% |
| Q4 2024 | $6.30 | -2% |
AAPL earned $8.98 per share over the past year, up 20% from the year before.
WEX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.68 | +96% |
| Q3 2026 | $11.59 | +51% |
| Q2 2026 | $10.01 | +27% |
| Q1 2026 | $8.88 | +14% |
| Q4 2025 | $8.47 | +13% |
| Q3 2025 | $7.69 | -2.4% |
| Q2 2025 | $7.91 | +37% |
| Q1 2025 | $7.76 | +26% |
| Q4 2024 | $7.50 | +22% |
WEX has the edge over AAPL on earnings, with more consistent year-over-year improvement.
AAPL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $114.5B | +12% |
| Q2 2026 | $109.4B | +16% |
| Q1 2026 | $111.2B | +17% |
| Q4 2025 | $143.8B | +16% |
| Q3 2025 | $102.5B | +7.9% |
| Q2 2025 | $94B | +9.6% |
| Q1 2025 | $95.4B | +5.1% |
| Q4 2024 | $124.3B | +4% |
AAPL has the edge over WEX on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | -0.5 points |
| Q2 2026 | 33% | +2.6 points |
| Q1 2026 | 32% | +1.3 points |
| Q4 2025 | 35% | +0.9 points |
| Q3 2025 | 32% | +0.5 points |
| Q2 2025 | 30% | +0.4 points |
| Q1 2025 | 31% | +0.3 points |
| Q4 2024 | 34% | +0.7 points |
AAPL has the edge over WEX on profitability, with a higher operating margin.
WEX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $780.1M | +13% |
| Q2 2026 | $753.5M | +14% |
| Q1 2026 | $673.8M | +5.8% |
| Q4 2025 | $672.9M | +5.7% |
| Q3 2025 | $691.8M | +4% |
| Q2 2025 | $659.6M | -2.1% |
| Q1 2025 | $636.6M | -2.5% |
| Q4 2024 | $636.5M | -4% |
WEX's revenue has grown year over year for five quarters in a row: $780M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +4.1 points |
| Q2 2026 | 27% | +3.2 points |
| Q1 2026 | 23% | -1.2 points |
| Q4 2025 | 25% | 0 points |
| Q3 2025 | 27% | -3 points |
| Q2 2025 | 24% | -1.2 points |
| Q1 2025 | 25% | -0.5 points |
| Q4 2024 | 25% | +0.8 points |
WEX's operating margin was 31% last quarter, up 4.1 points from the same quarter a year ago, near the top of its range since 2019.
AAPL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $25.9B | -2.4% |
| Q2 2026 | $31.9B | +31% |
| Q1 2026 | $26.7B | +28% |
| Q4 2025 | $51.6B | +91% |
| Q3 2025 | $26.5B | +11% |
| Q2 2025 | $24.4B | -8.6% |
| Q1 2025 | $20.9B | +0.9% |
| Q4 2024 | $27B | -28% |
AAPL has the edge over WEX on cash generation, producing positive trailing cash flow while its opponent burns cash.
WEX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$58.2M | -117% |
| Q2 2026 | -$121.1M | -153% |
| Q1 2026 | -$368.3M | +$145.9M |
| Q4 2025 | $236.1M | -61% |
| Q3 2025 | $341.6M | +$373.3M |
| Q2 2025 | $230M | +$276.6M |
| Q1 2025 | -$514.2M | -$326.9M |
| Q4 2024 | $599.7M | -17% |
WEX's free cash flow was −$312M over the past year, against $657M the year before.
AAPL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +5.6M shares |
| 1 year | -1.9% | -284M shares |
| 3 years | -6.9% | -1.1B shares |
| 5 years | -13% | -2.1B shares |
| Available history | -17% | -3.1B shares |
AAPL has the edge over WEX on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $24.3B |
| Q2 2026 | $25.1B |
| Q1 2026 | $12.3B |
| Q4 2025 | $24.7B |
| Q3 2025 | $20.1B |
| Q2 2025 | $21.1B |
| Q1 2025 | $25.9B |
| Q4 2024 | $23.6B |
AAPL spent $86.4B buying back its own shares over the past year, down 4.8% from the year before.
WEX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -300K shares |
| 1 year | -0.6% | -200K shares |
| 3 years | -20% | -8.8M shares |
| 5 years | -24% | -10.7M shares |
| Available history | -21% | -9.2M shares |
WEX has 35M diluted shares, down 0.6% from a year ago, with $267M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $203.6M |
| Q2 2026 | $63.8M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $100,000 |
| Q2 2025 | $9.7M |
| Q1 2025 | $790M |
| Q4 2024 | $108.4M |
WEX spent $267M buying back its own shares over the past year, down 71% from the year before.
AAPL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.5x | Very low |
AAPL has the edge over WEX on leverage, with a lower net debt burden relative to earnings.
WEX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.7x | High |
| Q2 2026 | 4.4x | High |
| Q1 2026 | 5.0x | High |
| Q4 2025 | 4.3x | High |
| Q3 2025 | 4.6x | High |
| Q2 2025 | 5.1x | High |
| Q1 2025 | 5.3x | High |
| Q4 2024 | 4.0x | High |
WEX's net debt is about 4.7 years of its operating earnings (EBITDA), about the same as a year ago.
AAPL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.1 | Neutral |
| Stochastic | 85.0 | Overbought |
AAPL's weekly RSI is 68 (neutral) and its Stochastic is 85 (overbought).
WEX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.2 | Neutral |
| Stochastic | 41.5 | Neutral |
WEX's weekly RSI is 52 (neutral) and its Stochastic is 41 (neutral).
AAPL PE vs Technology Sector
| Metric | AAPL | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 28x | 42% above |
| PE % | 96 | 35 | 61 pts above |
AAPL is trading at 40x earnings, a 42% premium to the Technology sector's median of 28x.
WEX PE vs Technology Sector
| Metric | WEX | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 28x | 44% below |
| PE % | 1 | 35 | 34 pts below |
WEX has the edge over AAPL on valuation relative to its sector.
AAPL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $343.1 | 3.4% above |
| 20 week MA | $329.0 | 7.9% above |
| 50 week MA | $295.6 | 20% above |
| 100 week MA | $262.4 | 35% above |
| 200 week MA | $226.3 | 57% above |
AAPL has the edge over WEX on trend strength, trading above more of its moving averages.
WEX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $180.7 | 0.7% below |
| 20 week MA | $181.5 | 1.1% below |
| 50 week MA | $163.9 | 9.5% above |
| 100 week MA | $158.9 | 13% above |
| 200 week MA | $175.3 | 2.4% above |
WEX has slipped below its 8- and 20-week averages, though it's still 2.4% above its 200-week average.
AAPL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.5 | $132.0 | +82% |
| 2021 | $132.0 | $176.3 | +34% |
| 2022 | $176.3 | $131.9 | -25% |
| 2023 | $131.9 | $192.5 | +46% |
| 2024 | $192.5 | $255.6 | +33% |
| 2025 | $255.6 | $273.4 | +7% |
| 2026 YTD | $273.4 | $354.9 | +30% |
AAPL has the edge over WEX on returns for 2026, with the stronger performance.
WEX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $209.4 | $203.5 | -2.8% |
| 2021 | $203.5 | $137.6 | -32% |
| 2022 | $137.6 | $161.9 | +18% |
| 2023 | $161.9 | $194.6 | +20% |
| 2024 | $194.6 | $173.1 | -11% |
| 2025 | $173.1 | $153.1 | -12% |
| 2026 YTD | $153.1 | $179.5 | +17% |
WEX has finished lower in four of the last six years. It's up 17% so far in 2026.