Corpay, Inc. (CPAY)

Corpay, Inc. operates as a payments company that helps businesses and consumers to manage and pay their expenses. It operates through Corporate Payments, Vehicle Payments, Lodging Payments, and Other segments. The company offers vehicle payment solutions for fuel, tolls and parking, vehicle compliance, auto insurance and road assistance, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards. It also provides corporate payment solutions, such as cross-border payments, spend management solutions, AP modernization, virtual cards, and purchasing and T&E cards. Additionally, it offers lodging payments solutions for employees who travel overnight for work purposes; traveling crews and stranded passengers from airlines and cruise lines; workforce lodging solutions for business travel programs; airline logistics, crew management, insurance, and other payments solutions. Further, the company offers gifts and payroll cards. It serves business, merchant, consumer, and payment network customers. The company was formerly known as FLEETCOR Technologies, Inc. and changed its name to Corpay, Inc. in June 2002. Corpay, Inc. was founded in 1986 and is headquartered in Atlanta, Georgia.

Ticker
CPAY
Exchange
NYSE
Sector
Technology
Industry
Software - Infrastructure
Market cap
$29.32B
52-week range
$259.06 - $479.53

Valuation

Share price
$455.16 (close of Nov 6, 2026)
P/E (TTM)
24.72x
Price to book
8.77x
Price to free cash flow
21.99x
Enterprise value
$42.64B
Book value per share
$51.91

Price performance

PeriodChange
1 day+1.83%
5 days+13.52%
1 month+11.89%
3 months+14.28%
6 months+49.02%
Year to date+51.25%
1 year+63.73%
3 years+95.00%
5 years+85.96%
10 years+203.34%
All time+1,570.31%

Short interest

As of
Oct 15, 2026
Short % of float
5.55%
Shares short
3.50M
Days to cover
6.53
Change since prior report
+0.75%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
27.25%
Return on invested capital
10.94%
Return on assets
4.05%
Return on capital employed
16.46%
Gross margin
60.22%
Net margin
23.62%
EBITDA margin
52.72%
Revenue growth
13.93%
Net income growth
6.58%
Free cash flow growth
-26.41%

Cash flow and balance sheet

Free cash flow yield (TTM)
4.55%
Current ratio
0.95x
Net debt to EBITDA
4.98x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$4.53B
Cost of revenue
$1.80B
Gross profit
$2.73B
EBITDA
$2.39B
Net income
$1.07B
Earnings per share
$15.23
Interest expense
$403.85M
Shares outstanding
70.14M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$4.53B$2.73B$1.07B$15.23
2024-12-31$3.97B$2.40B$1.00B$14.27
2023-12-31$3.76B$2.26B$981.89M$13.42
2022-12-31$3.43B$2.03B$954.33M$12.62
2021-12-31$2.83B$1.73B$839.50M$10.23
2020-12-31$2.39B$1.35B$704.22M$8.38
2019-12-31$2.65B$1.64B$895.07M$10.36
2018-12-31$2.43B$1.48B$811.48M$9.14
2017-12-31$2.25B$1.27B$740.20M$8.12
2016-12-31$1.83B$1.04B$452.38M$4.89

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3160.22%23.62%27.25%10.94%
2024-12-3160.49%25.25%31.91%12.62%
2023-12-3160.15%26.13%29.91%13.13%
2022-12-3159.26%27.85%37.55%11.75%
2021-12-3160.99%29.63%29.29%9.30%
2020-12-3156.38%29.48%20.99%17.06%
2019-12-3161.86%33.79%24.12%18.87%
2018-12-3160.81%33.35%24.29%14.92%
2017-12-3156.52%32.90%20.13%13.80%
2016-12-3156.66%24.70%14.67%12.75%

Cash and debt by year

Period endCashDebt
2025-12-31$2.41B$10.00B
2024-12-31$1.55B$8.00B
2023-12-31$1.39B$6.72B
2022-12-31$1.44B$7.04B
2021-12-31$1.52B$5.98B
2020-12-31$934.90M-
2019-12-31$1.27B-
2018-12-31$1.03B-
2017-12-31$913.60M-
2016-12-31$475.02M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$1.30B$102.64M
2024-12-31$1.77B$116.72M
2023-12-31$1.95B$116.09M
2022-12-31$603.37M$121.42M
2021-12-31$1.09B$80.07M
2020-12-31$1.39B$43.38M
2019-12-31$1.09B$60.95M
2018-12-31$822.00M$69.94M
2017-12-31$609.97M$93.30M
2016-12-31$649.21M$63.95M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-04Sep 2026$6.74
2026-08-05Jun 2026$6.22
2026-05-07Mar 2026$5.12
2026-02-04Dec 2025$5.63
2025-11-05Sep 2025$5.35
2025-08-06Jun 2025$4.80
2025-05-06Mar 2025$4.21
2025-02-05Dec 2024$5.03

Filings and sources

Company website
corpay.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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