CPAY Financials Corpay

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 16, 2026, 10:15 UTC Overview →

Growth & profitability

Revenue has grown 13.6% per year over the past 5 years.
Net income has grown slower than revenue (8.7% vs 13.6% per year).
Operating margin has expanded, at 44.0% in the latest year.
Free cash flow has declined 1.4% per year over the past 5 years.

Financial health

Total debt ($10.0B) exceeds cash ($2.4B); net debt is $7.6B.
Total debt has grown in line with revenue (13.7% vs 13.6% per year).
Operating income covered interest expense 4.9× in the latest year.
Total debt is 4.2× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$4.5B	$1.1B	0.0%	44.0%	27.5%	4.1%	$1.3B	$10.0B	$2.4B
2024	$4.0B	$1.0B	0.0%	45.0%	32.2%	5.6%	$1.8B	$8.0B	$1.6B
2023	$3.8B	$982M	0.0%	44.1%	29.9%	6.3%	$1.9B	$6.7B	$1.4B
2022	$3.4B	$954M	0.0%	42.2%	37.5%	6.8%	$603M	$7.0B	$1.4B
2021	$2.8B	$839M	0.0%	43.8%	29.3%	6.3%	$1.1B	$6.0B	$1.5B
2020	$2.4B	$704M	0.0%	40.7%	21.0%	6.3%	$1.4B	—	$935M
2019	$2.6B	$895M	0.0%	46.5%	24.1%	7.3%	$1.1B	—	$1.3B
2018	$2.4B	$811M	0.0%	44.8%	24.3%	7.2%	$822M	—	$1.0B
2017	$2.2B	$740M	95.7%	39.3%	20.1%	6.5%	$610M	—	$914M
2016	$1.8B	$452M	95.0%	41.2%	14.7%	4.7%	$649M	—	$475M
2015	—	$362M	—	—	12.8%	4.6%	$713M	—	$447M
2014	—	$369M	—	—	14.1%	4.3%	$581M	—	$477M
2013	—	$285M	—	—	23.3%	7.2%	$355M	$1.5B	$338M
2012	—	$216M	—	—	23.7%	7.9%	$116M	$925M	$284M
2011	—	$147M	—	—	18.2%	6.3%	$266M	$704M	$285M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$1.3B	$248M	0.0%	35.3%	7.0%	0.9%	$1.4B	$10.6B	$3.2B
Mar '26	$1.3B	$350M	0.0%	50.4%	10.0%	1.3%	-$108M	$10.4B	$2.5B
Dec '25	$1.2B	$264M	0.0%	45.2%	6.8%	1.0%	$760M	$10.0B	$2.4B
Sep '25	$1.2B	$278M	0.0%	44.6%	6.8%	1.4%	-$430M	$8.1B	$2.0B
Jun '25	$1.1B	$284M	0.0%	43.5%	7.2%	1.4%	$1.1B	$8.1B	$2.2B
Mar '25	$1.0B	$243M	0.0%	42.5%	7.0%	1.3%	-$119M	$8.2B	$1.6B
Dec '24	$1.0B	$246M	0.0%	47.2%	7.9%	1.4%	$605M	$8.0B	$1.6B
Sep '24	$1.0B	$276M	0.0%	45.5%	9.0%	1.6%	$355M	—	$1.3B
Jun '24	$976M	$252M	0.0%	44.4%	9.1%	1.6%	$497M	—	$1.4B
Mar '24	$935M	$230M	0.0%	42.5%	7.1%	1.5%	$309M	—	$1.3B
Dec '23	$937M	$256M	0.0%	45.2%	7.8%	1.7%	$680M	$6.7B	$1.4B
Sep '23	$971M	$271M	0.0%	45.8%	8.9%	1.7%	$247M	—	$1.1B
Jun '23	$948M	$240M	0.0%	43.5%	7.3%	1.6%	$179M	—	$1.3B
Mar '23	$901M	$215M	0.0%	41.6%	7.5%	1.4%	$841M	—	$1.3B
Dec '22	$884M	$225M	0.0%	41.8%	8.9%	1.6%	$272M	$7.0B	$1.4B
Sep '22	$893M	$249M	0.0%	43.6%	11.2%	1.7%	$356M	—	$1.3B
Jun '22	$861M	$262M	0.0%	43.0%	9.8%	1.8%	$119M	—	$1.4B
Mar '22	$789M	$218M	0.0%	40.3%	7.5%	1.5%	-$144M	—	$1.3B
Dec '21	$802M	$225M	0.0%	42.4%	7.8%	1.7%	$560M	$6.0B	$1.5B
Sep '21	$755M	$234M	0.0%	44.8%	7.4%	1.7%	$214M	—	$1.3B

Valuation over time

How the market has priced CPAY against its own fundamentals since 2024-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 20.6× (Mar '24) to 25.1× (Nov '26).
The price-to-sales ratio has risen from 5.4× (Mar '24) to 5.9× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is CPAY growing its revenue and profit?

Over the past 5 years, Corpay's revenue has grown 13.6% per year, and net income grown 8.7% per year. These are computed facts, not advice.

How much debt does CPAY have?

As of FY2025, Corpay reported $10.0B of total debt against $2.4B of cash; operating income covered interest expense 4.9×.

What is CPAY's profit margin?

In FY2025, gross margin was —, operating margin 44.0%, and net margin 23.6%.

What is CPAY's P/E ratio?

Corpay's P/E (TTM) is 23.56 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the CPAY stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 25.1× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.