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Corpay, Inc.

Corpay, Inc.

NYSE•CPAY
CEO: Mr. Ronald F. Clarke
Sector: Technology
Industry: Software - Infrastructure
Listing Date: 2010-12-15
Corpay, Inc. operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards. It also provides corporate payment solutions consisting of accounts payable automation; virtual cards, cross-border solutions; and purchasing and travel and entertainment card products, as well as lodging payments solutions for employees who travel overnight for work purposes; traveling crews and stranded passengers from airlines and cruise lines; and insurance policyholders displaced from their homes due to damage or catastrophe. In addition, 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 March 2024. Corpay, Inc. was founded in 1986 and is headquartered in Atlanta, Georgia.
Contact Information
3280 Peachtree Road, Suite 2400, Atlanta, GA, 30305, United States
770-417-4697
www.corpay.com
Market Cap
$22.43B
P/E (TTM)
21.4
29.5
Dividend Yield
--
52W High
$400.81
52W Low
$252.84
52W Range
46%
Rank16Top 3.7%
6.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$1.17B+13.92%
4-Quarter Trend

EPS

$3.95-0.75%
4-Quarter Trend

FCF

-$429.84M-221.08%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Consolidated Revenue Growth Strong Net revenues grew 11.6% to $3.28B for nine months ended September 30, 2025, driven by 10% organic growth.
Corporate Payments Operating Income Corporate Payments operating income surged 31.0% to $474.6M for nine months, fueled by 18% organic growth and acquisitions.
Net Income Rises 6.3% Net income attributable to Corpay increased 6.3% to $805.3M for nine months, despite macroeconomic headwinds impacting revenue.
Strong Liquidity Position Total cash and restricted cash reached $4.91B as of September 30, 2025, supporting operations and strategic financing needs.

Risk Factors

Macroeconomic Headwinds Pressure Macro factors caused a negative $68M impact on 9M revenue, driven by unfavorable foreign exchange rates, especially in Brazil.
IT General Controls Weakness Material weakness in ITGCs regarding user access management noted; remediation plan is currently underway for effectiveness testing.
FTC Litigation Uncertainty Resolution timing and potential costs for the ongoing FTC lawsuit remain unpredictable, requiring significant management judgment.

Outlook

Alpha Acquisition Closed October Completed acquisition of Alpha for approximately £1.8B cash; results will reflect in Corporate Payments starting Q4 2025.
Credit Facility Amended/Expanded Entered 17th Credit Agreement amendment, increasing revolver capacity by $1B and adding new $900M Term Loan B.
Mastercard Investment Closing Q4 Investment in cross-border business with Mastercard for $300M is expected to close during the fourth quarter of 2025.

Peer Comparison

Revenue (TTM)

CDW CorporationCDW
$22.10B
+6.1%
CGI Inc.GIB
$11.36B
+8.3%
SS&C Technologies Holdings, Inc.SSNC
$6.15B
+6.7%

Gross Margin (Latest Quarter)

Nutanix, Inc.NTNX
87.0%
+0.9pp
Check Point Software Technologies Ltd.CHKP
85.3%
-2.1pp
F5, Inc.FFIV
82.2%
+1.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CPAY$22.43B21.428.8%41.1%
SSNC$20.93B24.612.5%34.9%
GIB$20.44B17.216.4%22.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
4.3%
Moderate Growth
4Q Net Income CAGR
4.2%
Profitability Slowly Improving
Cash Flow Stability
50%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:$5.93
|
Revenue:$1.23B
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 10, 2025|
    Revenue: $1.17B+13.9%
    |
    EPS: $3.95-0.8%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $1.10B+12.9%
    |
    EPS: $4.03+12.3%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 12, 2025|
    Revenue: $1.01B+7.5%
    |
    EPS: $3.46+8.1%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $3.97B+5.8%
    |
    EPS: $14.27+6.3%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $1.03B+6.0%
    |
    EPS: $3.98+7.3%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 9, 2024|
    Revenue: $975.71M+2.9%
    |
    EPS: $3.59+10.8%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $935.25M+3.8%
    |
    EPS: $3.20+9.6%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $3.76B+9.6%
    |
    EPS: $13.42+6.3%
    Miss