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NEW YORK STOCK EXCHANGE, INC. · Financial Services · CIK 0001175454
$415.01
+1.83% · live
Updated
$28.37B market value
From CORPAY, INC.'s FY2025 10-K, filed Feb 27, 2026 · read the filing
CORPAY provides business support services. It took in $4.53B last year, which makes it a mid-sized company. Of every dollar it sells, about 24 cents is left as profit.
The financial picture is led by profitability, with growth worth watching, while debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Recent open-market selling by 7 insiders, not under a pre-arranged plan.
$113.4M sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From CORPAY, INC.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Cash
$1.55B → $2.41B
Free cash flow
$1.77B → $1.30B
Long-term debt
$8.00B → $10.00B
Revenue
$3.97B → $4.53B
Measured against FY2024, from the 10-K filed Feb 27, 2026
Improved: +55.0%
$1.55B to $2.41BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
How the latest move compares (quote live), and what was published around it
CPAY rose 1.83% on the latest quote. The S&P 500 moved −1.04%. That is 2.9 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 11% a year for the next 10 years. Over the last 10 years it grew by about 6% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 24 cents of every dollar of sales as profit, earning $1.07B last year.
Slowly. Sales grew 13.9% last year.
Yes. Clearing its debt would take roughly 7.3 years of cash flow. For every $1 it owes, it owns $1.17 in assets.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it earned $1.07B and generated $1.50B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 27, 2026Filing for FY2025 | FY202410-K · Feb 27, 2025Filing for FY2024 | FY202310-K · Feb 27, 2025Filing for FY2023 | FY202210-K · Feb 27, 2025Filing for FY2022 | FY202110-K · Feb 28, 2023Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $4.53B | $3.97B | $3.76B | $3.43B | $2.83B | +13.9% |
| Selling, general and administrative | $733.0M | $616.9M | $603.4M | $584.1M | $485.8M | +18.8% |
| Operating income | $1.99B | $1.79B | $1.66B | $1.45B | $1.24B | +11.6% |
| Operating marginOperating income ÷ revenueWhat is this? | 44.0% | 45.0% | 44.1% | 42.2% | 43.8% | −0.9 pts |
| Interest expense | $403.8M | $383.0M | $348.6M | $164.7M | — | +5.4% |
| Income before tax | $1.54B | $1.39B | $1.33B | $1.28B | $1.11B | +11.3% |
| Net income | $1.07B | $1.00B | $981.9M | $954.3M | $839.5M | +6.6% |
| Net marginNet income ÷ revenueWhat is this? | 23.6% | 25.3% | 26.1% | 27.8% | 29.6% | −1.6 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $15.65 | $14.30 | $13.69 | $13.01 | $10.64 | +9.4% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| CPAYCORPAY, INC. · this page | 6.0/10 | 6/8 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Exercised stock options — 450,000 shares at $150.74 ($67.8M)
Holds 2,858,233 shares after this filing.
Had shares withheld to cover taxes — 290,043 shares at $417.13 ($121.0M)
Holds 2,568,190 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q2 FY2026
Revenue +21.5% · Operating margin −8.2 pts · Cash +44.3% — against Q2 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingWrite down why you are following CORPAY, INC., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 192 subsidiaries named in its 10-K, incorporated across 50 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from CPAY's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 27, 2026), reported under the US GAAP taxonomy. View the source filing. Total liabilities were not tagged directly and were calculated as assets minus equity.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 6/8 | 10-K, filed Feb 27, 2026 |
| FY2024 | 7.3 | 5/8 | 10-K, filed Feb 27, 2025 |
| FY2023 | 7.3 | 7/8 | 10-K, filed Feb 29, 2024 |
| FY2022 | 7.3 | 5/8 | 10-K, filed Feb 28, 2023 |
| FY2021 | 10.0 | 6/7 | 10-K, filed Mar 1, 2022 |
| FY2020 | 7.3 | 4/7 | 10-K, filed Feb 26, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
6 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
1.87
In the grey zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: -26.4%
$1.77B to $1.30BSignificant
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: +25.1%
$8.00B to $10.00BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +13.9%
$3.97B to $4.53BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +11.6%
$1.79B to $1.99BNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +6.6%
$1.00B to $1.07BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −1.6 pts
25.3% to 23.6%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +9.4%
$14.30 to $15.65Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -2.6%
70.2M to 68.4MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Changed: +14.6%
$175.2M to $200.8MNotable
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 10, 2026 — read it.
Deteriorated: −8.2 pts
43.5% to 35.3%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +44.3%
$2.19B to $3.16BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +21.5%
$1.10B to $1.34BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: −7.2 pts
25.8% to 18.5%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: +30.9%
$8.12B to $10.62BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: -7.0%
70.6M to 65.7MSignificant
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Deteriorated: -12.6%
$284.2M to $248.3MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: -6.0%
$4.02 to $3.78Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 10, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: −15.2 pts
50.4% to 35.3%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −9.2 pts
27.8% to 18.5%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -25.8%
$636.2M to $472.3MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -29.1%
$350.1M to $248.3MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: -28.6%
$5.29 to $3.78Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +24.7%
$2.54B to $3.16BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +6.2%
$1.26B to $1.34BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
1 other measure barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 9% and 13%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 24 analysts covering this company, as of . Their views, not this site's.
Of 24 analysts publishing on this company, 8 say strong buy, 12 say buy and 4 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 5.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 24.4x — investors pay $24.4 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
| 13.9% |
| 23.6% |
| 26.52x |
| 5.80x |
| VVISA INC. | 8.7/10 | 6/7 | 11.3% | 50.1% | 38.57x | 1.63x |
|---|
| MAMastercard Inc | 10.0/10 | 8/8 | 16.4% | 45.6% | 38.29x | 6.00x |
|---|
| PYPLPayPal Holdings, Inc. | 8.7/10 | 8/8 | 4.3% | 15.8% | 10.12x | 2.96x |
|---|
| XYZBlock, Inc. | 7.3/10 | 5/8 | 0.3% | 5.4% | 37.05x | 0.78x |
|---|
| FISVFISERV INC | 7.3/10 | 5/8 | 3.6% | 16.4% | 8.20x | 2.11x |
|---|
| AFRMAffirm Holdings, Inc. | 7.3/10 | 4/7 | 29.6% | 133.6% | 12.57x | 1.88x |
|---|
| GPNGLOBAL PAYMENTS INC | 7.0/10 | 5/9 | -0.4% | 18.2% | 14.52x | 1.29x |
|---|
| FISFidelity National Information Services, Inc. | 4.7/10 | 6/9 | 5.4% | 3.6% | 53.09x | 1.41x |
|---|
| Median of peers | 7.3/10 | — | 4.9% | 17.3% | 25.79x | 1.75x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Sold on the open market — 5,882 shares at $414.16 ($2.4M)
Holds 2,562,308 shares after this filing.
Sold on the open market — 51,919 shares at $415.12 ($21.6M)
Holds 2,510,389 shares after this filing.
Sold on the open market — 16,540 shares at $415.82 ($6.9M)
Holds 2,493,849 shares after this filing.
Sold on the open market — 8,409 shares at $417.29 ($3.5M)
Holds 2,485,440 shares after this filing.
Sold on the open market — 7,545 shares at $418.08 ($3.2M)
Holds 2,477,895 shares after this filing.
Sold on the open market — 4,039 shares at $418.86 ($1.7M)
Holds 2,473,856 shares after this filing.
Sold on the open market — 40 shares at $419.62 ($16.8K)
Holds 2,473,816 shares after this filing.
Sold on the open market — 6,854 shares at $409.56 ($2.8M)
Holds 2,466,962 shares after this filing.
Sold on the open market — 12,109 shares at $410.56 ($5.0M)
Holds 2,454,853 shares after this filing.
Sold on the open market — 15,575 shares at $411.49 ($6.4M)
Holds 2,439,278 shares after this filing.
Sold on the open market — 50,504 shares at $412.58 ($20.8M)
Holds 2,388,774 shares after this filing.
Sold on the open market — 24,670 shares at $413.42 ($10.2M)
Holds 2,364,104 shares after this filing.
Sold on the open market — 9,581 shares at $414.57 ($4.0M)
Holds 2,354,523 shares after this filing.
Sold on the open market — 193 shares at $415.11 ($80.1K)
Holds 2,354,330 shares after this filing.
Sold on the open market — 3,805 shares at $416.61 ($1.6M)
Holds 20,732 shares after this filing.
Exercised stock options — 18,423 shares at $196.18 ($3.6M)
Holds 42,960 shares after this filing.
Sold on the open market — 8,237 shares at $414.08 ($3.4M)
Holds 34,723 shares after this filing.
Sold on the open market — 9,928 shares at $415.07 ($4.1M)
Holds 24,795 shares after this filing.
Sold on the open market — 258 shares at $415.70 ($107.3K)
Holds 24,537 shares after this filing.
Sold on the open market — 879 shares at $412.91 ($362.9K)
Holds 22,719 shares after this filing.
Sold on the open market — 889 shares at $413.67 ($367.8K)
Holds 21,830 shares after this filing.
Sold on the open market — 589 shares at $414.62 ($244.2K)
Holds 21,241 shares after this filing.
Sold on the open market — 455 shares at $410.19 ($186.6K)
Holds 27,786 shares after this filing.
Sold on the open market — 188 shares at $411.88 ($77.4K)
Holds 27,598 shares after this filing.
Sold on the open market — 1,960 shares at $411.81 ($807.1K)
Holds 25,638 shares after this filing.
Sold on the open market — 40 shares at $412.42 ($16.5K)
Holds 25,598 shares after this filing.
Sold on the open market — 1,640 shares at $409.34 ($671.3K)
Holds 23,958 shares after this filing.
Sold on the open market — 360 shares at $410.24 ($147.7K)
Holds 23,598 shares after this filing.
Exercised stock options — 7,122 shares at $261.07 ($1.9M)
Holds 31,659 shares after this filing.
Sold on the open market — 7,122 shares at $419.58 ($3.0M)
Holds 24,537 shares after this filing.
Exercised stock options — 6,600 shares at $261.07 ($1.7M)
Holds 31,137 shares after this filing.
Sold on the open market — 183 shares at $410.09 ($75.0K)
Holds 30,954 shares after this filing.
Sold on the open market — 2,617 shares at $410.88 ($1.1M)
Holds 28,337 shares after this filing.
Sold on the open market — 3,800 shares at $412.10 ($1.6M)
Holds 24,537 shares after this filing.
Exercised stock options — 9,600 shares at $231.70 ($2.2M)
Holds 34,137 shares after this filing.
Sold on the open market — 9,600 shares at $410.00 ($3.9M)
Holds 24,537 shares after this filing.
Exercised stock options — 2,463 shares at $196.18 ($483.2K)
Holds 27,000 shares after this filing.
Sold on the open market — 2,463 shares at $410.12 ($1.0M)
Holds 24,537 shares after this filing.
Sold on the open market — 1,800 shares at $405.09 ($729.2K)
Holds 10,412 shares after this filing.
Sold on the open market — 1,749 shares at $410.02 ($717.1K)
Holds 8,663 shares after this filing.
Sold on the open market — 1,751 shares at $415.03 ($726.7K)
Holds 6,912 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 213,860 shares ($88.5M) on or after .
Shares originally obtained via Acquired upon option exercise.
Filed notice to sell 3,805 shares ($1.6M) on or after .
Shares originally obtained via Performance Shares.
Filed notice to sell 18,423 shares ($7.6M) on or after .
Shares originally obtained via Stock Option Exercise.
Filed notice to sell 2,357 shares ($971.1K) on or after .
Shares originally obtained via Acquired from public market.
Filed notice to sell 4,000 shares ($1.6M) on or after .
Shares originally obtained via Acquired from public market.
Filed notice to sell 643 shares ($261.6K) on or after .
Shares originally obtained via Acquired from public market.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join
Signed a material agreement · Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Revenue +25.4% · Operating margin +8.0 pts · Operating income +48.9% — against Q1 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingAnnual report for FY2025
Revenue +13.9% · Profit margin −1.6 pts · Cash +55.0% — against FY2024
Read the filingReceived shareholder director nominations · Reported another event
Read the filingCompleted an acquisition or disposal
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q3 FY2025
Revenue +13.9% · Profit margin −3.1 pts · Cash +53.9% — against Q3 FY2024
Read the filingSigned a material agreement · Completed an acquisition or disposal · Took on a direct financial obligation · Published results · Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2025
Revenue +12.9% · Cash +61.5% · Operating income +10.6% — against Q2 FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingThe first 40 of 192. The rest are in the exhibit.
Source: Exhibit 21 of the 10-K filed 2026-02-27. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
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