Corpay IncCorpay Inc
Corpay Inc

Corpay Inc

CPAY
Financials·Financial Services

Corpay, Inc. engages in the provision of digital payment solutions that enable businesses to control purchases and make payments. It operates through the following segments: Vehicle Payments, Corporate Payments, Lodging Payments and Other. The Vehicle Payments segment helps, controls and monitors spending and includes fuel card offerings, tolls and other complementary products. The Corporate Payments segment simplifies and automates vendor payments and includes accounts payable (AP) automation, virtual cards, cross-border payments and purchasing and travel and entertainment (T&E) card products. The Lodging Payments segment helps businesses manage lodging costs, while simplifying the management of hotels and housing, both short and longer-term, while also providing traveler and end customer support. The Other segment includes gift solutions and payroll card solution. It also operates through the following geographical segments: U.S., Brazil and the United Kingdom. The company was founded by William Boatner Reily III and Ronald F. Clarke in 1985 and is headquartered in Atlanta, GA.

Georgia; U.S.A
Market cap
No dataNo data
Revenue
$4.5B+13.9% YoY
Net income
$1.1B+6.6% YoY
Free cash flow
$1.3B−26.4% YoY

Market

Listed stock
CPAYPriceNYSE
Loading…Loading…1Y

Financial performance

Revenue
$4.5B+13.9% YoY
Operating income
$2B+11.6% YoY
Net income
$1.1B+6.6% YoY
Free cash flow
$1.3B−26.4% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $2.8B, 2022 $3.4B, 2023 $3.8B, 2024 $4B, 2025 $4.5B. Operating income: 2021 $1.2B, 2022 $1.4B, 2023 $1.7B, 2024 $1.8B, 2025 $2B. Net income: 2021 $839.5M, 2022 $954.3M, 2023 $981.9M, 2024 $1B, 2025 $1.1B. Free cash flow: 2021 $1.1B, 2022 $603.4M, 2023 $1.9B, 2024 $1.8B, 2025 $1.3B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
13.9%+816 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $1.2B, 2022-12-31 $1.4B, 2023-12-31 $1.7B, 2024-12-31 $1.8B, 2025-12-31 $2B. Net income: 2021-12-31 $839.5M, 2022-12-31 $954.3M, 2023-12-31 $981.9M, 2024-12-31 $1B, 2025-12-31 $1.1B. Free cash flow: 2021-12-31 $1.1B, 2022-12-31 $603.4M, 2023-12-31 $1.9B, 2024-12-31 $1.8B, 2025-12-31 $1.3B

Growth heatmap

2022202320242025CAGR
Revenue
+20.9%
+9.6%
+5.8%
+13.9%
+12.4%
Gross profit
+20.9%
+9.6%
+5.8%
+13.9%
+12.4%
Operating income
+16.4%
+14.5%
+7.9%
+11.6%
+12.6%
Free cash flow
-44.4%
+222.7%
-9.3%
-26.4%
+4.6%

Earnings quality

Operating cash flow
$1.5B−22.7% YoY
Net income
$1.1B+6.6% YoY
Free cash flow
$1.3B−26.4% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 140%, 2024-12-31 193%, 2023-12-31 214%, 2022-12-31 79%, 2021-12-31 143%. Free cash flow: 2025-12-31 121%, 2024-12-31 176%, 2023-12-31 198%, 2022-12-31 63%, 2021-12-31 129%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
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No data
No data