FirmAtlas
Company handbook · CPAY · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
CPAY · CIK 1175454 · LATEST FILING: 10-Q JUN '26 · FILED AUG 10, 2026
Corpay, Inc.
$399.84
−6.36 (−1.57%)
Close, Oct 16, 2026 · 52-week $253–427
Last fiscal year
Corpay, Inc. reported revenue of $4.5B for the year ended Dec 31, 2025 (FY25), up 13.9% from FY24. Net income was $1.1B, operating cash flow $1.5B and free cash flow $1.3B. Source: 10-K filed Feb 27, 2026.
Market cap
$27.3B
P/E
24.0
EV/EBITDA
13.3x
P/B
7.7
ROIC
15.7%
Revenue 1Y
13.9%/yr
EPS 1Y
7.6%/yr
Shares 1Y
−3%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEORonald F. Clarke
HQAtlanta, GA
AuditorErnst & Young LLP
Employees11,800
Year endsDecember
Revenue by segment · FY25
Vehicle Payments47%
Corporate Payments36%
Lodging10%
Other Operating Segments6%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
8.8%
8.0%
17.0%
44.1%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.3B deployed
Capex
$376M
28.2%
Buybacks
$2.1B
155.1%
Operating cash flow over the period: $3.4B. Total debt changed by +$2.6B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
3,975
4,528+13.9%
5,021
YoY
+13.9%
Operating income
1,787
1,994+11.6%
2,196
Operating margin
45.0%
44.0%−0.9 pp
—
EBITDA
2,138
2,387+11.7%
—
EBITDA margin
53.8%
52.7%−1.1 pp
—
Interest expense
383
404+5.4%
—
Interest coverage
5.58x
5.91x+0.33x
—
Net income
1,004
1,070+6.6%
1,141
YoY
+6.6%
Net margin
25.3%
23.6%−1.6 pp
—
EPS (diluted, $)
13.97
15.03+7.6%
16.55
YoY
+7.6%
Balance sheet
Total assets
17,957
26,408+47.1%
28,224
Cash & short-term investments
4,456
8,992+101.8%
—
Accounts receivable
2,090
2,146+2.6%
—
Net PP&E
378
472+25.0%
—
Other assets
11,032
14,798+34.1%
—
Total liabilities
14,835
22,524+51.8%
24,682
Accounts payable
1,570
1,565−0.4%
—
Total debt
10,766
13,347+24.0%
15,149
Other liabilities
2,498
7,613+204.7%
—
Shareholders’ equity
3,122
3,884+24.4%
3,542
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,941
1,500−22.7%
1,847
Net income
1,004
1,072+6.8%
—
Depreciation & amortization
351
393+12.0%
—
Stock-based compensation
117
103−12.1%
—
Working capital & other
469
(68)−114.5%
—
Cash from investing
(807)
1,227n/m
—
Capex
(175)
(201)n/m
—
PP&E sold
—
53
—
Acquisitions
(822)
1,934n/m
—
Other investing
190
(559)−394.8%
—
Cash from financing
405
1,562+285.6%
—
Buybacks
(1,288)
(783)n/m
—
Shares issued
428
68−84.2%
—
Other financing
1,265
2,277+80.0%
—
Net change in cash
1,315
4,536+245.0%
—
Free cash flow (OCF − capex)
1,765
1,299−26.4%
1,638
Where the cash went
Operating cash flow
1,941
1,500−22.7%
1,847
Reinvested in the business
997
(1,733)−273.8%
—
% of operating cash flow
51.4%
-115.5%
Capex
175
201+14.6%
209
Acquisitions
822
(1,934)−335.3%
—
Free cash flow
1,765
1,299−26.4%
1,638
YoY
−26.4%
Returned to shareholders
1,288
783−39.2%
—
% of free cash flow
73.0%
60.3%
Buybacks
1,288
783−39.2%
—
Change in total debt
—
2,581
—
Cash left over
—
5,031
—
FCF conversion (FCF ÷ net income)
175.9%
121.4%−54.4 pp
—
Owner earnings
—
1,201
—
Owner earnings margin
—
26.5%
—
Returns & ratios
ROIC (all capital)
13.7%
15.7%+2.0 pp
—
ROIC (operating)
144.3%
142.1%−2.1 pp
—
Net debt / EBITDA
2.95x
1.82x−1.13x
—
Debt / equity
3.45x
3.44x−0.01x
—
ROE
32.1%
27.5%−4.6 pp
—
ROA
5.6%
4.1%−1.5 pp
—
ROCE
19.3%
16.5%−2.9 pp
—
NOPAT
1,295
1,387+7.1%
—
Invested capital (operating)
898
1,053+17.3%
—
Invested capital (all)
9,432
8,239−12.6%
—
Reinvestment rate
—
11.2%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
1,172
1,248
1,261
1,339
vs year-ago quarter
Operating income
523
564
636
472
Net income
278
264
350
248
vs year-ago quarter
Net margin
23.7%
21.2%
27.8%
18.5%
EPS (diluted, $)
3.91
3.87
5.07
3.70
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
19,745
26,408
26,665
28,224
Cash & equivalents
4,914
8,992
8,816
10,168
Total debt
10,424
13,347
14,114
15,149
Shareholders’ equity
4,076
3,884
3,510
3,542
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
(379)
813
(57)
1,470
Capex
51
52
51
54
Free cash flow
(430)
760
(108)
1,416
vs year-ago quarter