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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.5B | $2.3B | $1.1B | $1.3B | 27.5% | 13.9% | 6.6% |
| 2024 | $4.0B | $2.1B | $1.0B | $1.8B | 32.1% | 5.8% | 2.2% |
| 2023 | $3.8B | $2.0B | $982M | $1.9B | 29.9% | 9.6% | 2.9% |
| 2022 | $3.4B | $1.8B | $954M | $603M | 37.5% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,427.13 | 3,757.72 | 3,974.59 | 4,528.40 |
| Cost Of Revenue | - | 764.71 | 819.91 | 869.08 | 969.18 |
| Gross Profit | - | 2,662.42 | 2,937.81 | 3,105.50 | 3,559.23 |
| Operating Expense | - | 1,215.78 | 1,280.94 | 1,349.66 | 1,607.38 |
| Operating Income | - | 1,446.64 | 1,656.87 | 1,755.85 | 1,951.85 |
| EBITDA | - | 1,762.60 | 2,010.22 | 2,119.24 | 2,338.83 |
| EBIT | - | 1,440.32 | 1,673.61 | 1,768.16 | 1,945.53 |
| Pretax Income | - | 1,275.66 | 1,325 | 1,385.11 | 1,541.68 |
| Tax Provision | - | 321.33 | 343.12 | 381.38 | 469.73 |
| Net Income | - | 954.33 | 981.89 | 1,003.75 | 1,069.83 |
| Net Income Common Stockholders | - | 954.33 | 981.89 | 1,003.75 | 1,069.83 |
| Total Expenses | - | 1,980.49 | 2,100.85 | 2,218.74 | 2,576.56 |
| Interest Expense | - | 164.66 | 348.61 | 383.04 | 403.85 |
| Selling General And Administration | - | 893.22 | 943.58 | 997.78 | 1,212.02 |
| Normalized EBITDA | - | 1,765.92 | 2,010.22 | 2,092.97 | 2,298.16 |
| Normalized Income | - | 956.81 | 981.89 | 984.70 | 1,041.56 |
| Market Cap | 20,693.36 | 20,693.36 | 20,693.36 | 20,693.36 | 20,693.36 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Corpay, Inc.this co. | CPAY | $22.0B | 19.34↓ discount | 5.33 | 27.5% | 12.09 |
| VeriSign, Inc. | VRSN | $25.2B | 29.67 | -11.37 | -38.3% | 22.08 |
| Fair Isaac Corporation | FICO | $24.3B | 36.56 | -13.65 | -37.3% | 28.15 |
| Fidelity National Information Services, Inc. | FIS | $23.9B | 61.99 | 1.70 | 2.7% | 10.55 |
| NetApp, Inc. | NTAP | $22.2B | 18.15 |
| - |
| - |
| - |
| - |
| 20.70 |
| 114.0% |
| 13.18 |
| First Solar, Inc. | FSLR | $20.8B | 13.62 | 2.18 | 16.0% | 8.67 |
| Fortive Corporation | FTV | $20.3B | 32.47 | 2.91 | 9.0% | 18.73 |
| HP Inc. | HPQ | $18.7B | 7.18 | -52.51 | -730.9% | 6.13 |
| Leidos Holdings, Inc. | LDOS | $18.7B | 12.75 | 3.76 | 29.5% | 9.40 |
| Peer Median | - | 23.91 | 1.94 | 5.9% | 11.87 | |