CORPAY, INC. CPAY
Corpay, Inc. (the "Company") is a global corporate payments company that helps businesses and consumers better manage and
pay their expenses in a simple, controlled manner. Corpay provides a broad suite of payment and spend management solutions,
including accounts payable (AP) automation and cross-border payment solutions (including foreign exchange spot, forward and
option transactions), commercial card programs (e.g., purchasing cards, business cards and virtual cards), vehicle payment
Last close
416.37
2026-09-04
Market cap
$27.34B
2026-06-30 share count
52-week range
252.84 - 427.46
Valuation FY2025 figures against the last close
P/S6.0x
P/E27.7x
P/FCF21.0x
EV/EBITDA18.0x
Dividend yield—
Diluted EPS15.03
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.53B | $3.97B | $3.76B | $3.43B | $2.83B | $2.39B | $2.65B | $2.43B | $2.25B | $1.83B |
| Cost of revenue | — | — | — | — | — | — | — | — | $96.8M | $91.6M |
| Gross profit | — | — | — | — | — | — | — | — | $2.15B | $1.74B |
| SG&A | $733.0M | $616.9M | $603.4M | $584.1M | $485.8M | $374.7M | $407.2M | $389.2M | $387.7M | $283.6M |
| Operating income | $1.99B | $1.79B | $1.66B | $1.45B | $1.24B | $972.3M | $1.23B | $1.09B | $883.8M | $754.2M |
| Interest expense | $403.8M | $383.0M | $348.6M | $164.7M | $113.7M | $129.8M | $150.0M | $138.5M | $107.1M | $71.9M |
| Pre-tax income | $1.54B | $1.39B | $1.33B | $1.28B | $1.11B | $882.5M | $1.08B | $1.10B | $893.6M | $642.9M |
| Income tax | $469.7M | $381.4M | $343.1M | $321.3M | $269.3M | $178.3M | $182.7M | $283.6M | $153.4M | $190.5M |
| Net income | $1.07B | $1.00B | $982.0M | $954.0M | $839.0M | $704.2M | $895.1M | $811.5M | $740.2M | $452.4M |
| EPS, basic | 15.23 | 14.27 | 13.42 | 12.62 | 10.23 | 8.38 | 10.36 | 9.14 | 8.12 | 4.89 |
| EPS, diluted | 15.03 | 13.97 | 13.20 | 12.42 | 9.99 | 8.12 | 9.94 | 8.81 | 7.91 | 4.75 |
| Shares, diluted (wtd. avg.) | $71.1M | $71.8M | $74.4M | $76.9M | $84.1M | $86.7M | $90.1M | $92.2M | $93.6M | $95.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.41B | $1.55B | $1.39B | $2.29B | $2.25B | $1.48B | $1.68B | $1.36B | $1.13B | $643.8M |
| Receivables | $2.15B | $2.09B | $2.16B | $2.06B | $1.79B | $1.37B | $1.57B | $1.43B | $1.42B | $1.20B |
| Total current assets | $13.96B | $8.68B | $7.08B | $6.11B | $5.49B | $3.96B | $4.62B | $3.88B | $3.55B | $2.53B |
| Property, plant and equipment | $472.3M | $377.7M | $343.2M | $294.7M | $236.3M | $202.5M | $199.8M | $186.2M | $180.1M | $142.5M |
| Goodwill | $7.56B | $5.98B | $5.64B | $5.20B | $5.08B | $4.72B | $4.83B | $4.54B | $4.72B | $4.20B |
| Other intangibles | $3.24B | $2.41B | $2.09B | $2.13B | $2.34B | $2.12B | $2.34B | $2.41B | $2.72B | $2.65B |
| Total assets | $26.41B | $17.96B | $15.48B | $14.09B | $13.40B | $11.19B | $12.25B | $11.20B | $11.32B | $9.63B |
| Accounts payable | $1.56B | $1.57B | $1.62B | $1.57B | $1.41B | $1.05B | $1.25B | $1.12B | $1.44B | $1.15B |
| Short-term debt | $3.35B | $2.77B | $2.13B | $2.31B | $1.52B | $1.21B | $1.75B | $2.07B | $1.62B | $1.34B |
| Total current liabilities | $14.30B | $8.71B | $6.83B | $6.04B | $5.29B | $3.97B | $4.46B | $4.50B | $4.10B | $3.30B |
| Long-term debt | $10.00B | $8.00B | $6.72B | $7.04B | $5.98B | — | — | — | — | — |
| Retained earnings | $10.26B | $9.20B | $8.19B | $7.21B | $6.26B | $5.42B | $4.71B | $3.82B | $2.96B | $2.22B |
| Total equity | $3.88B | $3.12B | $3.28B | $2.54B | $2.87B | $3.36B | $3.71B | $3.34B | $3.68B | $3.08B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.50B | $1.94B | $2.10B | $754.8M | $1.20B | $1.47B | $1.16B | $903.4M | $680.1M | $708.2M |
| Depreciation and amortisation | $131.2M | $120.1M | $110.0M | $92.0M | $75.6M | $65.2M | $62.8M | $52.9M | $46.6M | $36.5M |
| Stock-based compensation | $102.6M | $116.7M | $116.1M | $121.4M | $80.1M | $43.4M | $61.0M | $69.9M | $93.3M | $63.9M |
| Capital expenditure | $200.8M | $175.2M | $153.8M | $151.4M | $111.5M | $78.4M | $75.2M | $81.4M | $70.1M | $59.0M |
| Investing cash flow | $1.23B | -$807.5M | -$380.7M | -$368.3M | -$715.9M | -$106.2M | -$523.7M | -$26.3M | -$497.8M | -$1.39B |
| Financing cash flow | $1.56B | $405.0M | -$898.2M | -$311.2M | $343.9M | -$1.42B | -$310.2M | -$577.8M | $251.9M | $754.0M |
| Buybacks | $782.8M | $1.29B | $686.9M | $1.41B | $1.36B | $849.9M | $694.9M | $958.7M | $402.4M | $187.7M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001175454-26-000022.
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