CORPAY, INC.CPAY

CORPAY, INC. Financial Overview 2021–2025

Updated Aug 15, 2026

Corpay's Corporate Payments segment revenue surged 46.0% in Q1 2026, signaling a material pivot away from legacy fuel cards into B2B software and cross-border transactions. The company is executing a structural transformation, leveraging acquisitions and capital returns to compound earnings while expanding operational efficiency.

This strategic shift has driven top-line expansion, with total revenue growing from $2.83 billion in FY2021 to $4.53 billion in FY2025. Profitability followed suit, as net income reached $1.07 billion in FY2025 and adjusted EBITDA margins registered at 55.2% during Q1 2025. Management has actively optimized the portfolio by divesting peripheral assets like PayByPhone for a $121.4 million pre-tax gain in Q1 2026, while deploying capital toward core targets, highlighted by the £1.8 billion cash acquisition of Alpha Group International.

Corpay backs this operational growth with direct shareholder yields, repurchasing $0.8 billion in stock during FY2025 and maintaining a total liquidity buffer of $4.0 billion. At the close of FY2025, the market valued the enterprise at a $20.6 billion market cap, with shares trading at $300.93 and a 20.0x earnings multiple based on $15.03 in period-end EPS.

Recent Developments (Q1 and Q2 2026)

Corpay generated strong momentum through H1 2026, with consolidated revenues rising 23.3% to $2.6 billion and net income increasing 13.5% to $598.4 million. The company is preparing to divest its Maintenance business, projecting a pre-tax gain between $460 million and $515 million. To support future operations, Corpay aggressively expanded its credit facility in May 2026, boosting revolving commitments to $3.7 billion and extending maturities to 2031, which helped elevate total liquidity to $4.8 billion by the end of Q2 2026.

Bulls highlight the pending divestitures and $786 million in Q1 2026 share repurchases as core catalysts for earnings expansion. Conversely, bears point to a $100 million charge for an FTC consent order and rising operational expenses as potential profitability headwinds. The stock traded at a 26.7x earnings multiple alongside a $27.4 billion market cap as of August 10, 2026.

What to watch: execution of the Maintenance business sale; achievement of the $425.00 stock price hurdle for executive performance grants.

Rev

$4.53B

+13.9% YoY

FY2025

NI

$1.07B

+6.8% YoY

FY2025

EPS

$15.23

+6.7% YoY

FY2025

OCF

$1.50B

-22.7% YoY

FY2025

Revenue Trend
Beta

Year-over-year comparison from 10-K annual reports

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Data from SEC Company Facts

All CPAY Financial Metrics(57)

Recent SEC Filings

CORPAY, INC. 8-K Report, Financial Results (Aug 5, 2026)

Corpay, Inc. (CPAY) filed an 8-K on August 5, 2026, to report its financial results for the second quarter and the first half of 2026, ending June 30, 2026. The filing primarily references a press release (Exhibit 99.1) containing the detailed financial outcomes. While the 8-K itself doesn't provide the specific figures, the attached press release is the key document for investors to review for performance metrics, including revenue, profitability, and any forward-looking statements or guidance. Investors should pay close attention to the press release for details on the company's operational performance, growth drivers, and any significant business developments impacting the second quarter. This report serves as the official notification of these results, and the accompanying press release will offer a comprehensive overview of Corpay's financial condition and results of operations.

CORPAY, INC. 8-K Report, Executive Changes (Jul 24, 2026)

Corpay, Inc. (CPAY) announced on July 24, 2026, that its Compensation Committee approved special performance-based restricted stock unit (PSU) grants to key executives Ronald F. Clarke and Armando L. Netto on July 22, 2026. These grants, effective immediately, are designed to incentivize and retain these officers by directly linking a portion of their compensation to the company's stock price performance over a defined period. The PSUs vest based on specific stock price hurdles, with different thresholds requiring the closing stock price to reach or exceed $425.00, $450.00, and $475.00 on five separate trading days within the performance period ending August 31, 2028. This structure aims to align the executives' financial interests closely with those of Corpay's shareholders, encouraging actions that drive shareholder value.

CORPAY, INC. 8-K Report, Material Agreement (May 22, 2026)

Corpay, Inc. (CPAY) announced a significant amendment to its Credit Facility on May 21, 2026, through the Eighteenth Amendment. This strategic move substantially enhances the company's financial flexibility and capacity. Key changes include a notable increase in revolving credit facility commitments by $0.9 billion to $3.7 billion, and an expansion of Term Loan A by $0.4 billion to $3.3 billion. Additionally, the company significantly bolstered its Term Loan B-6 by $2.05 billion, bringing the total to $2.95 billion. These actions were accompanied by the full repayment of its Term Loan B-5 using a combination of the new credit facilities, streamlining the company's debt structure. The amendment also extends the maturity of both the revolving credit facility and Term Loan A by five years, pushing them to May 21, 2031, and the Term Loan B-6 to November 5, 2032. This extension provides Corpay with a longer runway for its financial obligations. The company intends to use the remaining proceeds from these credit enhancements for general corporate purposes, indicating a proactive approach to managing its capital structure and supporting future growth initiatives.

CORPAY, INC. 8-K Report, Shareholder Vote Results (May 12, 2026)

Corpay, Inc. (CPAY) reported the results of its Annual Meeting held on May 7, 2026, via an 8-K filing on May 12, 2026. The meeting saw strong shareholder participation, with over 62.9 million shares represented. The primary focus of the filing is the voting outcomes on key corporate governance matters, including the election of directors, ratification of the independent auditor, and advisory votes on executive compensation and board structure. Key outcomes indicate robust shareholder confidence in the current board and the company's auditor. All nominated directors were elected, with the vast majority receiving overwhelming 'FOR' votes. The reappointment of Ernst & Young LLP as the independent auditor was also overwhelmingly ratified. However, the advisory vote on executive compensation showed a more divided opinion among shareholders, while a shareholder proposal for an independent Board Chair requirement was narrowly defeated. These results provide valuable insights into shareholder sentiment regarding leadership and corporate governance practices at Corpay.

CORPAY, INC. 8-K Report, Regulation FD Disclosure (May 12, 2026)

Corpay, Inc. (CPAY) has filed an 8-K to disclose the posting of an investor presentation to its website on May 12, 2026. This presentation is intended for use in an upcoming virtual teach-in session focusing on the Company's Cross-Border Business, scheduled for May 13, 2026. Investors can access the presentation on Corpay's investor relations website. The Company emphasizes that the information within the presentation is supplementary and should be viewed in conjunction with their official SEC filings and other public disclosures. The primary purpose of this filing is to provide investors with updated information regarding Corpay's Cross-Border segment ahead of a dedicated investor event. While the presentation offers insights into this key business area, Corpay explicitly states it will not update or revise the presentation information routinely. All information furnished under Item 7.01 Regulation FD Disclosure is not considered "filed" for purposes of liability under Section 18 of the Exchange Act, nor is it incorporated by reference into other SEC filings unless specifically stated.

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