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NYSE · Industrials

CORPAY, INC. (CPAY)

As-reported financials and SEC filings for CORPAY, INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About CORPAY, INC.

Corpay, Inc. is a global corporate payments company that provides businesses and consumers with payment and spend management solutions. Its main products include accounts payable automation, cross-border payments, commercial card programs, vehicle payment solutions, and lodging payment solutions. Corpay serves businesses worldwide by helping them manage expenses, automate payments, and control spending through digital platforms and proprietary networks.

Snapshot

Revenue
$4.53B
Revenue growth (YoY)
13.9%
Net income
$1.07B
Diluted EPS
$15.03
Gross margin
Operating margin
44.0%
Net margin
23.6%
FCF margin
28.7%
ROE
27.2%
net income / fiscal-year-end equity
P/E
24.6×
trailing when available, otherwise FY EPS
Market cap
$26.58B
Long-term debt / equity
2.55×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Corpay

  • Revenue grew 13.9% to $4.5B in FY2025, faster than the 5.8% the year before.
  • Operating margin is 44.0% in FY2025, +0.2 pp against 43.8% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.3B, up 21.5% from Q2 FY2025.
  • Free cash flow was $1.3B in FY2025, 28.7% of revenue.
  • Net income rose 6.6% to $1.1B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Corpay’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin44.0%
98th percentile of 605
Net margin23.6%
96th percentile of 645
FCF margin28.7%
97th percentile of 562
Revenue growth (YoY)+13.9%
74th percentile of 668
ROE27.2%
90th percentile of 600
P/E24.6×
50th percentile of 434
Long-term debt / equity2.55×
94th percentile of 409
Short interest4.13d
64th percentile of 676

Corpay’s operating margin of 44.0% ranks in the 98th percentile of the 605 Industrials companies reporting it. Corpay’s FCF margin of 28.7% ranks in the 97th percentile of the 562 Industrials companies reporting it. Corpay’s net margin of 23.6% ranks in the 96th percentile of the 645 Industrials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 38 insider sales totaling $139.9M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 4 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+4 quant / multi-strat
Initiated / added
7
1 new, 6 added
Reduced / exited
2
0 trimmed, 2 exited
Combined position
$987.6M
reported long value
InvestorAs ofPosition valueSharesChange
Tiger Global ManagementQ2 2026$716.5M2.1MAdded
AQR Capital ManagementquantQ2 2026$203.2M616.8KAdded
Millennium ManagementquantQ2 2026$31.9M95.9KAdded
Gotham Asset ManagementQ2 2026$16.9M50.7KAdded
Citadel AdvisorsquantQ2 2026$9.4M28.2KAdded
Two Sigma InvestmentsquantQ2 2026$7.1M21.2KAdded
Bridgewater AssociatesQ2 2026$2.6M7.7KNew

No longer held by: D. E. Shaw (as of Q2 2026), Point72 Asset Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
38
$139.9M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-25
Clarke RonaldCEO & Chairman of BODSell50.5K$412.58$20.8M
2026-08-25
Clarke RonaldCEO & Chairman of BODSell24.7K$413.42$10.2M
2026-08-25
Clarke RonaldCEO & Chairman of BODSell15.6K$411.49$6.4M
2026-08-25
Clarke RonaldCEO & Chairman of BODSell12.1K$410.56$5.0M
2026-08-25
Clarke RonaldCEO & Chairman of BODSell9.6K$414.57$4.0M
2026-08-25
Clarke RonaldCEO & Chairman of BODSell6.9K$409.56$2.8M
2026-08-25
Clarke RonaldCEO & Chairman of BODSell193$415.11$80K
2026-08-24
filed 2026-08-25
Clarke RonaldCEO & Chairman of BODSell51.9K$415.12$21.6M
2026-08-24
filed 2026-08-25
Clarke RonaldCEO & Chairman of BODSell16.5K$415.82$6.9M
2026-08-24
filed 2026-08-25
Clarke RonaldCEO & Chairman of BODSell8.4K$417.29$3.5M
2026-08-24
filed 2026-08-25
Clarke RonaldCEO & Chairman of BODSell7.5K$418.08$3.2M
2026-08-24
filed 2026-08-25
Clarke RonaldCEO & Chairman of BODSell5.9K$414.16$2.4M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.5M
settled 2026-08-14
Change vs prior
-2.6%
vs previous settlement
Days to cover
4.13
at avg daily volume
Avg daily volume
608.4K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-142.5M-2.6%4.13
2026-07-312.6M+3.8%4.75
2026-07-152.5M-0.9%5.26
2026-06-302.5M-30.5%2.38
2026-06-153.6M+18.0%7.04
2026-05-293.1M+15.8%4.91
2026-05-152.6M-4.1%4.74
2026-04-302.8M+2.8%5.41

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$4.53B$3.97B$3.76B$3.43B$2.83B
Gross profit
Operating income$1.99B$1.79B$1.66B$1.45B$1.24B
Net income$1.07B$1.00B$981.9M$954.3M$839.5M
Diluted EPS$15.03$13.97$13.20$12.42$9.99

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$2.41B$1.55B$1.39B$1.44B$1.52B
Current assets$13.96B$8.68B$7.08B$6.11B$5.49B
Total assets$26.41B$17.96B$15.48B$14.09B$13.40B
Current liabilities$14.30B$8.71B$6.83B$6.04B$5.29B
Long-term debt$10.00B$8.00B$6.72B$7.04B$5.98B
Total liabilities$22.48B$14.81B$12.19B$11.55B$10.54B
Total equity$3.93B$3.15B$3.28B$2.54B$2.87B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.50B$1.94B$2.10B$754.8M$1.20B
Capital expenditure$200.8M$175.2M$153.8M$151.4M$111.5M
Free cash flow$1.30B$1.77B$1.95B$603.4M$1.09B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.34B21.5%$248.3M$3.70
Q1 FY2026$1.26B25.4%$350.1M$5.07
Q4 FY2025$1.25B20.7%$264.5M$3.77
Q3 FY2025$1.17B13.9%$277.9M$3.91
Q2 FY2025$1.10B12.9%$284.2M$3.98
Q1 FY2025$1.01B7.5%$243.2M$3.40
Q4 FY2024$1.03B10.4%$246.0M$3.44
Q3 FY2024$1.03B6.0%$276.4M$3.90

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industryServices-Business Services, NEC
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2013
SEC CIK1175454

Selected SEC filings

10-K2026-02-27
View on EDGAR →
10-K2025-02-27
View on EDGAR →
10-Q2026-08-10
View on EDGAR →
10-Q2026-05-08
View on EDGAR →
10-Q2025-11-10
View on EDGAR →
10-Q2025-08-07
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-07-24
View on EDGAR →

Largest Industrials peers

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.