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Corpay, Inc.

CPAY Technology Software Infrastructure

Corpay, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.5 billion, up 13.9% from fiscal 2024. In the quarter to June 2026, revenue grew 21.5%, EPS fell 6.95%, free cash flow grew 30.2% and total debt rose 3.90%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for five consecutive years; insiders bought in the last twelve months.

399.84 6.36 −1.57%
Market cap
$26.7B
P/E
24.0×
Fwd P/E
16.3×
Dividend yield
—
F-score
5/9
Altman Z
1.51
Beneish M
−2.44
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 2.52
Total sells 148.20
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — 1 — — — — — — — — — —
Sell — — — 2 — — 1 3 — 7 — —
Insider Ownership 3.65%

Capital & Financial Ratios $m

Market Cap 26,670.00
Revenue 5,020.50
Net Income 1,149.50
Free Cash Flow 1,638.41
Net Debt (4,070.20)
Current Ratio 0.97 (below 1: weak)
Debt/Equity 1.70
P/E ratio 24.04
Fwd P/E 16.30
P/S ratio 5.22
P/B ratio 7.30 (above 6: high)
Past 5Y EPS Growth 13.10%
This Y EPS Growth 28.21% (at or above 15%: strong)
Next Y EPS Growth 14.81%
Next Y revenue growth 17.48% (at or above 10%: strong)
Next 5Y EPS Growth 19.92% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.4×, against a ten-year median of 7.6×; over the ten years it ranged from 3.5× in 2026 to 11.0× in 2021.
P/E against its own 10 years 49.91%
10-year low 10-year high
P/S against its own 10 years 21.16%
10-year low 10-year high
P/B against its own 10 years 88.91%
10-year low 10-year high
EV/Sales against its own 10 years 4.02%
10-year low 10-year high
EV/FCF against its own 10 years 15.70%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,142 4,456 8,992 10,168
Receivables 3,469 3,414 3,969 4,956
Inventory — — — —
Other — — — —
7,084 8,676 13,963 16,484
2023 2024 2025 Q'26
Payables 1,625 1,570 1,565 2,276
ST’ Debt — — — —
Other 4,025 5,246 10,603 11,889
6,826 8,708 14,297 16,959

Compound Annual Growth %

10y 5y 3y
Sales 10.27% 13.65% 9.73%
Cash Flow 7.11% 0.37% 25.72%
Earnings 11.42% 8.69% 3.83%
Book Value 3.33% 3.19% 15.61%

Revenue $m

Mar Jun Sep Dec Year
’26 1,261 1,339 — — —
’25 1,006 1,102 1,172 1,248 4,528
’24 935 976 1,029 1,034 3,975
’23 901 948 971 937 3,758
’22 789 861 893 884 3,427
’21 609 667 755 802 2,834
’20 661 525 585 617 2,389
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (57) 1,470 — — —
’25 (74) 1,140 (379) 813 1,500
’24 350 541 401 649 1,941
’23 878 221 286 717 2,101
’22 (112) 154 397 316 755
’21 78 279 243 598 1,197
’20 420 382 413 258 1,473
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (108) 1,416 — — —
’25 (119) 1,088 (430) 760 1,299
’24 309 497 355 605 1,765
’23 841 179 247 680 1,947
’22 (144) 119 356 272 603
’21 58 252 214 560 1,086
’20 402 364 394 234 1,394
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 5.07 3.70 — — —
’25 3.40 3.98 3.91 3.75 15.03
’24 3.12 3.52 3.90 3.44 13.97
’23 2.88 3.20 3.64 3.48 13.20
’22 2.75 3.35 3.29 3.03 12.42
’21 2.15 2.30 2.80 2.74 9.99
’20 1.67 1.83 2.19 2.44 8.12
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 107.56 121.52 172.18 180.05 168.51 200.78 161.69 179.21 247.10 252.84

Analyst estimates 2026–2028

Powerpack
High 176.42 194.51 230.24 315.75 329.85 295.36 265.30 284.39 385.30 400.81
People
People Employees 7,100 7,890 7,580 8,700 8,400 9,700 9,900 10,500 11,200 11,800
Revenue/emp, $m 0.26 0.29 0.32 0.30 0.28 0.29 0.35 0.36 0.35 0.38
Income, $m
Income, $m Revenue 1,832 2,250 2,433 2,649 2,389 2,834 3,427 3,758 3,975 4,528
Gross margin, % 94.30 94.97 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT 643 894 1,095 1,078 883 1,109 1,276 1,325 1,385 1,542
EBT margin, % 35.10 39.72 45.00 40.69 36.94 39.13 37.22 35.26 34.85 34.04
Net income 452 740 811 895 704 839 954 982 1,004 1,072
Depreciation 211 272 280 279 261 291 330 344 449 414
Per share, $
Per share, $ Revenue 19.78 24.69 27.42 30.66 28.44 34.53 45.33 51.37 56.51 64.57
Earnings 4.89 8.12 9.14 10.36 8.38 10.23 12.62 13.42 14.27 15.23
Cash flow 7.65 7.46 10.18 13.45 17.53 14.59 9.98 28.72 27.59 21.39
Capex (0.64) (0.77) (0.92) (0.87) (0.93) (1.36) (2.00) (2.10) (2.49) (2.86)
Free cash flow 7.01 6.69 9.26 12.58 16.60 13.23 7.98 26.62 25.10 18.52
Book value 33.31 40.34 37.64 42.96 39.94 34.93 33.62 44.87 44.73 55.99
Shares, m 93 91 89 86 84 82 76 73 70 70
Valuation, ×
Valuation, × P/E 29.82 23.82 20.28 27.77 32.52 21.88 14.50 20.98 23.68 19.76
P/S 7.31 7.85 6.77 9.38 9.59 6.48 4.04 5.48 5.99 4.66
P/B 4.34 4.81 4.93 6.70 6.83 6.41 5.45 6.28 7.57 5.38
EV/Sales 8.34 8.64 7.34 9.99 10.27 7.26 4.75 5.87 6.18 4.15
EV/FCF 23.52 31.87 21.74 24.36 17.60 18.96 26.99 11.32 13.92 14.45
Cash, $m
Cash, $m Operating cash flow 708 680 903 1,162 1,473 1,197 755 2,101 1,941 1,500
Capex (59) (70) (81) (75) (78) (112) (151) (154) (175) (201)
Free cash flow 649 610 822 1,087 1,394 1,086 603 1,947 1,765 1,299
Balance, $m
Balance, $m Working capital (769) (546) (619) 156 (12) 198 63 259 (32) (333)
Total debt 2,522 2,902 2,748 3,290 3,098 4,460 4,723 4,596 5,226 6,656
Net debt 1,878 1,771 1,384 1,615 1,621 2,209 2,434 1,455 770 (2,336)
Shareholders’ equity 3,084 3,677 3,340 3,712 3,355 2,867 2,541 3,282 3,146 3,927
Returns, %
Returns, % ROA 5.17 7.07 7.21 7.63 6.01 6.83 6.94 6.64 6.00 4.82
ROIC 9.50 10.14 14.43 14.45 12.21 15.30 18.17 21.86 28.53 78.34
ROE 15.30 21.90 23.13 25.39 19.93 26.98 35.29 33.72 31.23 30.21
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Corpay, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
OKTA Okta, Inc. $36.5B 111× 72.2× +10.58% (above 0%: growing) +76.32% (above 0%: growing) +38.89% (above 0%: growing) 79.63% 13.29% Compare
ZS Zscaler, Inc. $35.9B — (loss-making) — (loss-making) +24.88% (above 0%: growing) n/m −64.66% (below 0%: shrinking) 76.73% (1.72%) Compare
MDB MongoDB, Inc. $29.5B 456× 2,423× +30.50% (above 0%: growing) n/m +94.79% (above 0%: growing) 73.83% 3.68% Compare
VRSN VeriSign, Inc. $27.5B 32.8× 31.1× +6.03% (above 0%: growing) +7.69% (above 0%: growing) +9.30% (above 0%: growing) 88.50% 68.18% Compare
CPAY Corpay, Inc. $26.7B 24.0× 16.3× +21.49% (above 0%: growing) −6.95% (below 0%: shrinking) +30.16% (above 0%: growing) 100.00% 35.28%
FFIV F5, Inc. $25.9B 34.8× 33.5× +10.85% (above 0%: growing) +11.55% (above 0%: growing) +12.46% (above 0%: growing) 82.25% 24.65% Compare
IOT Samsara Inc. $24.9B 241× 208× +29.88% (above 0%: growing) n/m +46.50% (above 0%: growing) 77.21% 0.96% Compare
RBRK Rubrik, Inc. $24.6B — (loss-making) — (loss-making) +37.89% (above 0%: growing) n/m +14.13% (above 0%: growing) 78.44% (16.83%) Compare
GPN Global Payments Inc. $22.3B — (loss-making) — (loss-making) +68.63% (above 0%: growing) −94.95% (below 0%: shrinking) −35.83% (below 0%: shrinking) 61.04% 10.15% Compare
Median of peers $26.7B 111× 72.2× +27.38% +9.62% +13.30% 77.83% 6.92%

All 173 Software Infrastructure stocks →

CPAY metrics, ten years each

Corpay, Inc. (CPAY) key facts

  • Strength: Corpay, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.5 billion, up 13.9% from fiscal 2024.
  • Strength: Net income was $1.1 billion, or $15.23 per share (basic), a net margin of 23.6%.
  • Corpay, Inc. (CPAY) is a Software Infrastructure company in the Technology sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, CPAY traded at $399.84, a market capitalization of $26.7 billion.
  • At that price the stock trades at 24.0× trailing-twelve-month earnings and 5.2× sales; its P/E is higher than 50% of its own readings over the past ten years.
  • Return on equity was 30.2% and debt-to-equity 1.70.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 1.51 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Corpay, Inc. (CPAY) Latest News

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stockrow.com/CPAY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com