Corpay (CPAY) Financials

$333.24 +8.93 (+2.75%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$331.43 -1.81 (-0.54%)

As of 04:09 AM Eastern

Annual Income Statements for Corpay

This table shows Corpay's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	1,004	982	954	839	704	895	811	740	452	362
Consolidated Net Income / (Loss)	1,004	982	954	839	704	895	811	740	452	362
Net Income / (Loss) Continuing Operations	1,004	982	954	839	704	895	811	740	452	362
Total Pre-Tax Income	1,385	1,325	1,276	1,109	883	1,078	1,095	894	643	536
Total Operating Income	1,787	1,657	1,447	1,243	972	1,231	1,091	884	754	668
Total Gross Profit	3,106	2,938	2,662	2,274	1,792	2,118	1,946	1,707	1,372	1,372
Total Revenue	3,975	3,758	3,427	2,834	2,389	2,649	2,433	2,250	1,832	1,703
Operating Revenue	3,975	3,758	3,427	2,834	2,389	2,649	2,433	2,250	1,832	1,703
Total Cost of Revenue	869	820	765	560	596	531	488	543	460	331
Operating Cost of Revenue	869	820	765	560	596	531	488	543	460	331
Total Operating Expenses	1,318	1,281	1,216	1,031	820	887	855	823	618	704
Selling, General & Admin Expense	998	944	893	748	567	612	572	558	415	515
Depreciation Expense	351	337	322	284	255	274	275	265	203	193
Other Operating Expenses / (Income)	0.79	0.75	0.28	-0.78	-1.99	0.52	8.73	0.06	-0.69	-4.24
Impairment Charge	90	0.00	0.00	-	-	-	-	-	-	-
Other Special Charges / (Income)	-121	0.00	0.00	-	-	-	-	-	-	-
Total Other Income / (Expense), net	-402	-332	-171	-134	-90	-154	4.43	9.83	-111	-132
Interest Expense	388	349	167	130	130	150	141	110	72	71
Interest & Investment Income	-0.24	0.12	-1.38	0.01	30	-3.47	-7.15	-53	-36	-58
Other Income / (Expense), net	-14	17	-3.00	-3.86	10	-0.09	152	173	-2.98	-2.52
Income Tax Expense	381	343	321	269	178	183	284	153	191	174
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.01	0.00	0.00	-	-	-	-	-	-	-
Basic Earnings per Share	$14.27	$13.42	$12.62	$10.23	$8.38	$10.36	$9.14	$8.12	$4.89	$3.94
Weighted Average Basic Shares Outstanding	70.33M	73.16M	75.60M	82.06M	84.01M	86.40M	88.75M	91.13M	92.60M	92.02M
Diluted Earnings per Share	$13.97	$13.20	$12.42	$9.99	$8.12	$9.94	$8.81	$7.91	$4.75	$3.85
Weighted Average Diluted Shares Outstanding	71.85M	74.39M	76.86M	84.06M	86.72M	90.07M	92.15M	93.59M	95.21M	94.14M
Weighted Average Basic & Diluted Shares Outstanding	70.25M	71.85M	73.49M	155.77M	166.83M	85.43M	89.40M	91.20M	92.50M	92M

This table shows Corpay's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	246	276	252	230	256	271	240	215	225	249
Consolidated Net Income / (Loss)	246	276	252	230	256	271	240	215	225	249
Net Income / (Loss) Continuing Operations	246	276	252	230	256	271	240	215	225	249
Total Pre-Tax Income	387	358	334	305	333	370	327	295	297	340
Total Operating Income	488	468	433	397	424	445	413	375	369	389
Total Gross Profit	806	806	767	728	736	763	743	696	682	690
Total Revenue	1,034	1,029	976	935	937	971	948	901	884	893
Operating Revenue	1,034	1,029	976	935	937	971	948	901	884	893
Total Cost of Revenue	229	224	209	207	201	208	205	205	202	203
Operating Cost of Revenue	229	224	209	207	201	208	205	205	202	203
Total Operating Expenses	317	337	333	331	312	318	330	321	313	301
Selling, General & Admin Expense	256	248	249	245	228	234	246	236	223	223
Depreciation Expense	92	90	84	85	84	85	84	84	90	77
Other Operating Expenses / (Income)	0.48	0.01	0.01	0.29	0.12	-0.85	0.82	0.66	0.20	0.00
Total Other Income / (Expense), net	-101	-110	-99	-92	-91	-75	-86	-80	-72	-49
Interest Expense	95	109	95	89	92	88	88	80	76	45
Interest & Investment Income	0.03	-0.47	0.04	0.17	-0.03	-0.03	-0.02	0.19	-0.86	-0.17
Other Income / (Expense), net	-6.20	0.10	-4.50	-3.13	1.51	13	2.42	-0.75	5.12	-3.69
Income Tax Expense	141	82	83	75	78	99	87	80	72	91
Net Income / (Loss) Attributable to Noncontrolling Interest	0.05	-0.14	0.04	0.03	-	0.00	0.00	0.00	-	-
Basic Earnings per Share	$3.50	$3.98	$3.59	$3.20	$3.55	$3.71	$3.24	$2.92	$3.06	$3.34
Weighted Average Basic Shares Outstanding	70.33M	69.52M	70.11M	71.77M	73.16M	73.17M	73.89M	73.52M	75.60M	74.46M
Diluted Earnings per Share	$3.43	$3.90	$3.52	$3.12	$3.48	$3.64	$3.20	$2.88	$3.03	$3.29
Weighted Average Diluted Shares Outstanding	71.85M	70.90M	71.50M	73.55M	74.39M	74.60M	75.00M	74.48M	76.86M	75.56M
Weighted Average Basic & Diluted Shares Outstanding	70.25M	69.71M	69.43M	70.27M	71.85M	72.20M	73.96M	73.83M	73.49M	73.75M

This table details how cash moves in and out of Corpay's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	1,315	852	38	774	-199	310	234	487	29	-30
Net Cash From Operating Activities	1,941	2,101	755	1,197	1,473	1,162	903	680	708	755
Net Cash From Continuing Operating Activities	1,941	2,101	755	1,197	1,473	1,162	903	680	708	755
Net Income / (Loss) Continuing Operations	1,004	982	954	839	704	895	811	740	452	362
Consolidated Net Income / (Loss)	1,004	982	954	839	704	895	811	740	452	362
Depreciation Expense	120	110	92	76	65	63	53	47	36	30
Amortization Expense	239	234	238	215	196	217	227	225	174	170
Non-Cash Adjustments To Reconcile Net Income	195	228	256	133	170	139	-0.58	20	135	142
Changes in Operating Assets and Liabilities, net	383	547	-786	-67	337	-152	-187	-351	-91	50
Net Cash From Investing Activities	-807	-381	-368	-716	-106	-524	-26	-498	-1,390	-99
Net Cash From Continuing Investing Activities	-807	-381	-368	-716	-106	-524	-26	-498	-1,390	-99
Purchase of Property, Plant & Equipment	-175	-154	-151	-112	-78	-75	-81	-70	-59	-42
Acquisitions	-822	-428	-217	-602	-81	-448	-21	-705	-1,332	-49
Sale and/or Maturity of Investments	186	197	-	0.00	53	0.00	0.00	-	-	-
Other Investing Activities, net	4.12	4.40	0.00	-2.28	0.00	-0.26	-23	-39	1.41	-8.47
Net Cash From Financing Activities	405	-898	-311	344	-1,417	-310	-578	252	754	-648
Net Cash From Continuing Financing Activities	405	-898	-311	344	-1,417	-310	-578	252	754	-648
Repayment of Debt	-271	-77	-2,665	-129	-450	-141	-508	-1,491	-905	-652
Repurchase of Common Equity	-1,288	-687	-1,405	-1,356	-850	-695	-959	-402	-188	0.00
Issuance of Debt	10,814	8,871	10,236	3,759	1,244	2,649	1,932	2,101	1,825	0.00
Issuance of Common Equity	428	114	49	49	137	169	56	45	21	20
Other Financing Activities, net	-9,278	-9,119	-6,526	-1,979	-1,497	-2,292	-1,099	-	-	-16
Effect of Exchange Rate Changes	-223	30	-37	-51	-148	-18	-65	53	-43	-37
Cash Interest Paid	496	448	230	133	126	178	157	113	70	73
Cash Income Taxes Paid	374	408	358	230	165	201	208	392	102	83

This table details how cash moves in and out of Corpay's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	301	608	345	61	345	-187	164	530	-12	-56
Net Cash From Operating Activities	649	401	541	350	717	286	221	878	316	397
Net Cash From Continuing Operating Activities	649	401	541	350	717	286	221	878	316	397
Net Income / (Loss) Continuing Operations	246	276	252	230	256	271	240	215	225	249
Consolidated Net Income / (Loss)	246	276	252	230	256	271	240	215	225	249
Depreciation Expense	31	30	30	29	28	28	28	26	25	23
Amortization Expense	63	61	57	58	58	58	58	60	67	56
Non-Cash Adjustments To Reconcile Net Income	27	62	55	50	48	44	71	66	63	72
Changes in Operating Assets and Liabilities, net	281	-29	148	-17	327	-116	-175	511	-63	-2.79
Net Cash From Investing Activities	-429	-232	-44	-102	-35	-144	-42	-159	-101	-167
Net Cash From Continuing Investing Activities	-429	-232	-44	-102	-35	-144	-42	-159	-101	-167
Purchase of Property, Plant & Equipment	-44	-46	-44	-41	-37	-38	-42	-37	-44	-41
Acquisitions	-576	-186	-3.55	-56	1.59	-303	-0.00	-127	-57	-126
Other Investing Activities, net	5.57	-	3.37	-4.83	-	-	-	4.40	-	-
Net Cash From Financing Activities	229	415	-81	-159	-397	-260	-24	-218	-271	-163
Net Cash From Continuing Financing Activities	229	415	-81	-159	-397	-260	-24	-218	-271	-163
Repayment of Debt	-46	-275	39	10	-115	-170	-75	284	3,439	-2,453
Repurchase of Common Equity	-249	-92	-658	-289	-140	-535	-2.38	-9.60	-110	-500
Issuance of Debt	2,815	3,630	2,474	1,895	2,195	2,364	2,348	1,964	2,898	2,788
Issuance of Common Equity	244	84	9.40	91	13	35	33	33	27	3.27
Other Financing Activities, net	-2,535	-2,932	-1,945	-1,866	-2,349	-1,953	-2,327	-2,490	-	-
Effect of Exchange Rate Changes	-147	23	-71	-28	61	-69	9.10	29	44	-122
Cash Interest Paid	126	132	122	116	121	111	111	105	91	65
Cash Income Taxes Paid	109	79	146	39	89	81	203	35	49	94

This table presents Corpay's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	17,957	15,476	14,089	13,405	11,195	12,249	11,202	11,318	9,627	7,890
Total Current Assets	8,676	7,084	6,106	5,488	3,956	4,619	3,876	3,550	2,528	1,945
Cash & Equivalents	1,554	1,390	1,435	1,520	935	1,271	1,031	914	475	447
Restricted Cash	2,903	1,752	854	731	542	404	334	217	169	167
Accounts Receivable	3,414	3,469	3,352	2,911	2,067	2,540	2,312	2,231	1,793	1,253
Prepaid Expenses	806	474	465	326	413	403	199	188	91	68
Plant, Property, & Equipment, net	378	343	295	236	203	200	186	180	143	81
Total Noncurrent Assets	8,903	8,049	7,688	7,680	7,036	7,430	7,140	7,589	6,957	5,864
Long-Term Investments	60	70	74	52	7.48	30	43	33	36	77
Goodwill	5,985	5,645	5,201	5,079	4,719	4,833	4,542	4,716	4,195	3,546
Intangible Assets	2,410	2,086	2,131	2,335	2,116	2,342	2,408	2,725	2,653	2,184
Other Noncurrent Operating Assets	448	249	282	214	193	225	148	115	72	58
Total Liabilities & Shareholders' Equity	17,957	15,476	14,089	13,405	11,195	12,249	11,202	11,318	9,627	7,890
Total Liabilities	14,811	12,194	11,548	10,538	7,839	8,537	7,862	7,642	6,543	5,060
Total Current Liabilities	8,708	6,826	6,043	5,290	3,968	4,463	4,495	4,096	3,296	2,247
Short-Term Debt	2,770	2,127	2,314	1,518	1,206	1,747	2,071	1,617	1,337	875
Accounts Payable	1,570	1,625	1,569	1,406	1,054	1,250	1,118	1,437	1,151	670
Accrued Expenses	445	356	352	369	283	276	262	238	239	151
Customer Deposits	3,266	2,397	1,505	1,789	1,175	1,008	927	732	531	507
Other Current Liabilities	656	321	304	209	250	184	119	71	39	45
Total Noncurrent Liabilities	6,103	5,368	5,504	5,248	3,871	4,074	3,367	3,546	3,246	2,812
Long-Term Debt	5,226	4,596	4,723	4,460	3,098	3,290	2,748	2,902	2,522	2,060
Noncurrent Deferred & Payable Income Tax Liabilities	439	470	527	566	498	520	492	519	669	713
Other Noncurrent Operating Liabilities	438	302	254	221	275	264	127	125	56	39
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,146	3,282	2,541	2,867	3,355	3,712	3,340	3,677	3,084	2,830
Total Preferred & Common Equity	3,122	3,282	2,541	2,867	3,355	3,712	3,340	3,677	3,084	2,830
Total Common Equity	3,122	3,282	2,541	2,867	3,355	3,712	3,340	3,677	3,084	2,830
Common Stock	3,811	3,266	3,050	2,879	2,750	2,495	2,307	2,214	2,074	1,989
Retained Earnings	9,196	8,193	7,211	6,256	5,417	4,713	3,818	2,959	2,219	1,766
Treasury Stock	-8,171	-6,888	-6,209	-4,804	-3,448	-2,523	-1,871	-945	-542	-355
Accumulated Other Comprehensive Income / (Loss)	-1,714	-1,289	-1,510	-1,465	-1,363	-972	-914	-552	-666	-571
Noncontrolling Interest	24	0.00	-	-	-	-	-	-	-	-

This table presents Corpay's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	17,957	17,638	16,197	15,830	15,476	15,264	15,179	14,588	14,089	14,486
Total Current Assets	8,676	8,781	7,976	7,437	7,084	6,860	6,924	6,359	6,106	6,586
Cash & Equivalents	1,554	1,303	1,358	1,312	1,390	1,094	1,254	1,272	1,435	1,318
Restricted Cash	2,903	2,852	2,190	1,891	1,752	1,221	1,457	997	854	983
Accounts Receivable	3,414	3,953	3,821	3,797	3,469	4,051	3,709	3,653	3,352	3,667
Prepaid Expenses	806	606	529	438	474	493	504	436	465	619
Plant, Property, & Equipment, net	378	378	358	352	343	330	329	310	295	273
Total Noncurrent Assets	8,903	8,479	7,863	8,041	8,049	8,074	7,926	7,919	7,688	7,627
Long-Term Investments	60	65	64	68	70	68	70	68	74	74
Goodwill	5,985	5,928	5,546	5,674	5,645	5,554	5,474	5,380	5,201	5,069
Intangible Assets	2,410	2,153	1,957	2,033	2,086	2,165	2,107	2,198	2,131	2,169
Other Noncurrent Operating Assets	448	334	296	266	249	288	276	273	282	315
Total Liabilities & Shareholders' Equity	17,957	17,638	16,197	15,830	15,476	15,264	15,179	14,588	14,089	14,486
Total Liabilities	14,811	14,524	13,421	12,548	12,194	12,205	11,915	11,706	11,548	12,259
Total Current Liabilities	8,708	8,350	7,843	6,951	6,826	6,738	6,436	6,204	6,043	6,638
Short-Term Debt	2,770	2,491	2,516	1,901	2,127	2,346	2,071	2,097	2,314	2,476
Accounts Payable	1,570	1,826	1,903	1,850	1,625	1,895	1,680	1,908	1,569	1,694
Accrued Expenses	445	435	368	409	356	393	393	405	352	390
Customer Deposits	3,266	3,205	2,764	2,534	2,397	1,783	2,013	1,481	1,505	1,600
Other Current Liabilities	656	386	283	257	321	320	279	313	304	478
Total Noncurrent Liabilities	6,103	6,175	5,578	5,597	5,368	5,467	5,479	5,503	5,504	5,621
Long-Term Debt	5,226	5,272	4,818	4,863	4,596	4,637	4,678	4,701	4,723	4,745
Noncurrent Deferred & Payable Income Tax Liabilities	439	462	445	473	470	549	539	545	527	571
Other Noncurrent Operating Liabilities	438	441	316	261	302	281	262	257	254	304
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,146	3,114	2,776	3,282	3,282	3,059	3,263	2,882	2,541	2,227
Total Preferred & Common Equity	3,122	3,087	2,751	3,254	3,282	3,059	3,263	2,882	2,541	2,227
Total Common Equity	3,122	3,087	2,751	3,254	3,282	3,059	3,263	2,882	2,541	2,227
Common Stock	3,811	3,532	3,419	3,382	3,266	3,228	3,177	3,109	3,050	3,002
Retained Earnings	9,196	8,950	8,674	8,422	8,193	7,937	7,665	7,426	7,211	6,985
Treasury Stock	-8,171	-7,933	-7,843	-7,209	-6,888	-6,743	-6,221	-6,219	-6,209	-6,100
Accumulated Other Comprehensive Income / (Loss)	-1,714	-1,462	-1,499	-1,341	-1,289	-1,362	-1,357	-1,434	-1,510	-1,660
Noncontrolling Interest	24	27	25	28	0.00	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Corpay's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.77%	9.65%	20.94%	18.62%	-9.82%	8.85%	8.18%	22.82%	7.56%	41.98%
EBITDA Growth	5.71%	13.74%	15.95%	23.01%	-17.68%	-0.80%	14.61%	38.12%	11.15%	27.38%
EBIT Growth	5.97%	15.92%	16.54%	26.10%	-20.22%	-0.93%	17.56%	40.74%	12.96%	17.46%
NOPAT Growth	5.48%	13.45%	15.04%	21.26%	-24.14%	26.53%	10.40%	37.95%	17.57%	11.05%
Net Income Growth	2.22%	2.89%	13.68%	19.21%	-21.32%	10.30%	9.63%	63.62%	24.82%	-1.70%
EPS Growth	5.83%	6.28%	24.32%	23.03%	-18.31%	12.83%	11.38%	66.53%	23.38%	-9.20%
Operating Cash Flow Growth	-7.64%	178.37%	-36.95%	-18.71%	26.72%	28.64%	32.84%	-3.98%	-6.14%	24.04%
Free Cash Flow Firm Growth	-11.22%	303.21%	-28.75%	-65.10%	124.72%	-32.76%	3,036.39%	94.37%	-178.72%	130.86%
Invested Capital Growth	-2.48%	-5.83%	10.29%	5.94%	-12.33%	4.31%	-3.98%	12.28%	23.42%	-7.04%
Revenue Q/Q Growth	2.50%	1.45%	2.43%	6.98%	-3.30%	2.16%	1.37%	4.41%	4.83%	3.27%
EBITDA Q/Q Growth	3.16%	2.30%	2.84%	3.90%	-2.47%	-7.06%	15.01%	2.29%	9.28%	-2.61%
EBIT Q/Q Growth	3.30%	3.15%	2.43%	3.91%	-2.75%	-8.61%	18.90%	2.50%	9.97%	-4.89%
NOPAT Q/Q Growth	-1.27%	3.83%	2.48%	2.04%	-2.35%	4.66%	-11.59%	29.16%	8.84%	-8.36%
Net Income Q/Q Growth	-0.97%	3.21%	0.03%	1.84%	-3.52%	-6.91%	2.44%	33.87%	10.39%	-13.53%
EPS Q/Q Growth	-0.36%	3.53%	2.39%	3.20%	-2.29%	-6.49%	3.28%	34.52%	10.21%	-14.63%
Operating Cash Flow Q/Q Growth	-3.38%	23.54%	-27.15%	39.61%	-7.13%	2.01%	12.38%	-7.54%	15.03%	-4.11%
Free Cash Flow Firm Q/Q Growth	-38.29%	176.36%	-50.66%	346.84%	1.27%	-19.59%	7.12%	-145.27%	-15.66%	133.95%
Invested Capital Q/Q Growth	0.40%	-11.29%	2.01%	-4.44%	2.03%	2.35%	-0.91%	1.68%	-2.61%	-5.58%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	78.13%	78.18%	77.69%	80.24%	75.04%	79.97%	79.96%	75.87%	74.90%	80.56%
EBITDA Margin	53.65%	53.69%	51.75%	53.98%	52.06%	57.03%	62.58%	59.07%	52.52%	50.83%
Operating Margin	44.96%	44.09%	42.21%	43.85%	40.70%	46.49%	44.82%	39.29%	41.18%	39.20%
EBIT Margin	44.62%	44.53%	42.12%	43.71%	41.12%	46.49%	51.07%	47.00%	41.01%	39.05%
Profit (Net Income) Margin	25.25%	26.13%	27.85%	29.63%	29.48%	33.79%	33.35%	32.90%	24.70%	21.28%
Tax Burden Percent	72.47%	74.10%	74.81%	75.71%	79.80%	83.04%	74.10%	82.83%	70.36%	67.62%
Interest Burden Percent	78.10%	79.18%	88.36%	89.51%	89.84%	87.53%	88.11%	84.52%	85.59%	80.60%
Effective Tax Rate	27.53%	25.90%	25.19%	24.29%	20.20%	16.96%	25.90%	17.17%	29.64%	32.38%
Return on Invested Capital (ROIC)	19.30%	17.53%	15.73%	14.80%	11.74%	14.83%	11.73%	11.01%	9.36%	8.57%
ROIC Less NNEP Spread (ROIC-NNEP)	10.97%	11.52%	12.67%	11.68%	9.41%	11.04%	11.82%	11.26%	6.48%	5.07%
Return on Net Nonoperating Assets (RNNOA)	11.93%	16.19%	19.56%	12.19%	8.19%	10.56%	11.40%	10.88%	5.94%	4.73%
Return on Equity (ROE)	31.23%	33.72%	35.29%	26.98%	19.93%	25.39%	23.13%	21.90%	15.30%	13.30%
Cash Return on Invested Capital (CROIC)	21.81%	23.54%	5.94%	9.03%	24.88%	10.61%	15.79%	-0.56%	-11.61%	15.87%
Operating Return on Assets (OROA)	10.61%	11.32%	10.50%	10.07%	8.38%	10.50%	11.04%	10.09%	8.58%	8.10%
Return on Assets (ROA)	6.00%	6.64%	6.94%	6.83%	6.01%	7.63%	7.21%	7.07%	5.17%	4.42%
Return on Common Equity (ROCE)	31.11%	33.72%	35.29%	26.98%	19.93%	25.39%	23.13%	21.90%	15.30%	13.30%
Return on Equity Simple (ROE_SIMPLE)	32.15%	29.91%	37.55%	29.29%	20.99%	24.12%	24.29%	20.13%	14.67%	12.81%
Net Operating Profit after Tax (NOPAT)	1,295	1,228	1,082	941	776	1,023	808	732	531	451
NOPAT Margin	32.58%	32.67%	31.58%	33.20%	32.48%	38.61%	33.21%	32.54%	28.97%	26.51%
Net Nonoperating Expense Percent (NNEP)	8.33%	6.01%	3.06%	3.12%	2.33%	3.78%	-0.10%	-0.25%	2.89%	3.50%
Return On Investment Capital (ROIC_SIMPLE)	11.62%	12.27%	11.30%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	21.87%	21.82%	22.31%	19.76%	24.96%	20.03%	20.04%	24.13%	25.10%	19.44%
SG&A Expenses to Revenue	25.10%	25.11%	26.06%	26.39%	23.75%	23.11%	23.50%	24.82%	22.66%	30.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.17%	34.09%	35.48%	36.40%	34.34%	33.48%	35.14%	36.59%	33.72%	41.36%
Earnings before Interest and Taxes (EBIT)	1,773	1,673	1,444	1,239	982	1,231	1,243	1,057	751	665
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,133	2,017	1,774	1,530	1,244	1,511	1,523	1,329	962	866
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.56	6.22	5.33	6.34	6.78	6.73	6.83	4.69	4.26	4.65
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.94	5.43	3.95	6.41	9.53	9.43	9.38	7.66	7.17	7.74
Price to Earnings (P/E)	23.50	20.78	14.20	21.65	32.31	27.90	28.12	23.28	29.03	36.35
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.25%	4.81%	7.04%	4.62%	3.09%	3.58%	3.56%	4.30%	3.44%	2.75%
Enterprise Value to Invested Capital (EV/IC)	4.09	3.52	2.53	3.34	4.14	4.02	3.88	2.93	2.60	3.04
Enterprise Value to Revenue (EV/Rev)	6.82	6.36	5.32	7.71	10.71	10.68	10.78	9.15	8.91	9.05
Enterprise Value to EBITDA (EV/EBITDA)	12.71	11.86	10.27	14.28	20.56	18.73	17.22	15.50	16.95	17.81
Enterprise Value to EBIT (EV/EBIT)	15.28	14.29	12.62	17.64	26.03	22.98	21.10	19.48	21.71	23.18
Enterprise Value to NOPAT (EV/NOPAT)	20.92	19.48	16.84	23.23	32.96	27.67	32.45	28.12	30.74	34.15
Enterprise Value to Operating Cash Flow (EV/OCF)	13.96	11.38	24.14	18.25	17.37	24.35	29.03	30.28	23.03	20.43
Enterprise Value to Free Cash Flow (EV/FCFF)	18.51	14.51	44.56	38.08	15.56	38.68	24.11	0.00	0.00	18.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.54	2.05	2.77	2.09	1.28	1.36	1.44	1.23	1.25	1.04
Long-Term Debt to Equity	1.66	1.40	1.86	1.56	0.92	0.89	0.82	0.79	0.82	0.73
Financial Leverage	1.09	1.41	1.54	1.04	0.87	0.96	0.96	0.97	0.92	0.93
Leverage Ratio	5.20	5.08	5.08	3.95	3.32	3.33	3.21	3.10	2.96	3.01
Compound Leverage Factor	4.06	4.02	4.49	3.54	2.98	2.91	2.83	2.62	2.54	2.43
Debt to Total Capital	71.76%	67.19%	73.47%	67.59%	56.19%	57.57%	59.06%	55.14%	55.58%	50.91%
Short-Term Debt to Total Capital	24.86%	21.26%	24.16%	17.16%	15.74%	19.97%	25.38%	19.73%	19.25%	15.18%
Long-Term Debt to Total Capital	46.90%	45.94%	49.31%	50.43%	40.45%	37.61%	33.68%	35.41%	36.32%	35.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	28.02%	32.81%	26.53%	32.41%	43.81%	42.43%	40.94%	44.86%	44.42%	49.09%
Debt to EBITDA	3.75	3.33	3.97	3.91	3.46	3.33	3.16	3.40	4.01	3.39
Net Debt to EBITDA	1.63	1.74	2.63	2.40	2.27	2.21	2.24	2.52	3.30	2.59
Long-Term Debt to EBITDA	2.45	2.28	2.66	2.92	2.49	2.18	1.80	2.18	2.62	2.38
Debt to NOPAT	6.17	5.48	6.50	6.35	5.55	4.93	5.96	6.17	7.27	6.50
Net Debt to NOPAT	2.69	2.86	4.32	3.91	3.63	3.26	4.22	4.58	5.99	4.97
Long-Term Debt to NOPAT	4.04	3.74	4.36	4.74	3.99	3.22	3.40	3.96	4.75	4.56
Altman Z-Score	2.22	2.36	2.01	2.22	2.92	2.86	2.74	2.17	1.88	2.32
Noncontrolling Interest Sharing Ratio	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.00	1.04	1.01	1.04	1.00	1.03	0.86	0.87	0.77	0.87
Quick Ratio	0.57	0.71	0.79	0.84	0.76	0.85	0.74	0.77	0.69	0.76
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,464	1,649	409	574	1,644	732	1,088	-37	-658	836
Operating Cash Flow to CapEx	1,107.78%	1,365.95%	498.45%	1,073.31%	1,877.70%	1,545.92%	1,109.98%	970.22%	1,200.15%	1,801.99%
Free Cash Flow to Firm to Interest Expense	3.77	4.73	2.45	4.42	12.67	4.88	7.74	-0.34	-9.15	11.71
Operating Cash Flow to Interest Expense	5.00	6.03	4.53	9.22	11.34	7.74	6.43	6.16	9.85	10.58
Operating Cash Flow Less CapEx to Interest Expense	4.55	5.59	3.62	8.36	10.74	7.24	5.85	5.52	9.03	9.99
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.25	0.25	0.23	0.20	0.23	0.22	0.21	0.21	0.21
Accounts Receivable Turnover	1.16	1.10	1.09	1.14	1.04	1.09	1.07	1.12	1.20	1.31
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	11.03	11.78	12.91	12.92	11.88	13.72	13.29	13.95	16.41	22.07
Accounts Payable Turnover	0.54	0.51	0.51	0.46	0.52	0.45	0.38	0.42	0.51	0.48
Days Sales Outstanding (DSO)	316.00	331.24	333.52	320.60	351.94	334.28	340.69	326.46	303.51	278.84
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	671.01	710.93	710.06	802.23	705.09	814.11	956.09	870.47	722.82	764.13
Cash Conversion Cycle (CCC)	-355.01	-379.68	-376.55	-481.63	-353.16	-479.83	-615.40	-544.01	-419.32	-485.29
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,626	6,794	7,215	6,542	6,175	7,043	6,752	7,031	6,262	5,074
Invested Capital Turnover	0.59	0.54	0.50	0.45	0.36	0.38	0.35	0.34	0.32	0.32
Increase / (Decrease) in Invested Capital	-169	-421	673	367	-868	291	-280	769	1,188	-384
Enterprise Value (EV)	27,095	23,917	18,220	21,850	25,574	28,300	26,227	20,589	16,310	15,416
Market Capitalization	23,592	20,406	13,547	18,175	22,754	24,969	22,816	17,234	13,132	13,173
Book Value per Share	$44.79	$45.46	$34.46	$35.30	$40.23	$42.77	$27.19	$41.05	$33.24	$30.71
Tangible Book Value per Share	($75.64)	($61.61)	($64.96)	($56.01)	($41.72)	($39.91)	($29.38)	($42.03)	($40.57)	($31.46)
Total Capital	11,142	10,005	9,578	8,844	7,659	8,748	8,159	8,195	6,942	5,765
Total Debt	7,996	6,723	7,037	5,978	4,303	5,037	4,819	4,519	3,858	2,935
Total Long-Term Debt	5,226	4,596	4,723	4,460	3,098	3,290	2,748	2,902	2,522	2,060
Net Debt	3,480	3,512	4,673	3,675	2,819	3,331	3,411	3,355	3,178	2,244
Capital Expenditures (CapEx)	175	154	151	112	78	75	81	70	59	42
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,718	-756	88	-535	-283	227	86	-60	-76	-42
Debt-free Net Working Capital (DFNWC)	2,738	2,385	2,377	1,715	1,194	1,902	1,451	1,071	568	572
Net Working Capital (NWC)	-32	259	63	198	-12	156	-619	-546	-769	-303
Net Nonoperating Expense (NNE)	291	246	128	101	72	128	-3.28	-8.14	78	89
Net Nonoperating Obligations (NNO)	3,480	3,512	4,673	3,675	2,819	3,331	3,411	3,355	3,178	2,244
Total Depreciation and Amortization (D&A)	359	344	330	291	261	279	280	272	211	201
Debt-free, Cash-free Net Working Capital to Revenue	-43.23%	-20.13%	2.56%	-18.89%	-11.84%	8.57%	3.55%	-2.67%	-4.14%	-2.49%
Debt-free Net Working Capital to Revenue	68.89%	63.48%	69.35%	60.53%	49.97%	71.82%	59.64%	47.60%	31.01%	33.61%
Net Working Capital to Revenue	-0.81%	6.88%	1.83%	6.98%	-0.50%	5.87%	-25.45%	-24.26%	-41.97%	-17.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$14.27	$13.42	$12.62	$10.23	$8.38	$10.36	$9.14	$8.12	$4.89	$3.94
Adjusted Weighted Average Basic Shares Outstanding	70.33M	73.16M	75.60M	82.06M	84.01M	86.40M	88.75M	91.13M	92.60M	92.02M
Adjusted Diluted Earnings per Share	$13.97	$13.20	$12.42	$9.99	$8.12	$9.94	$8.81	$7.91	$4.75	$3.85
Adjusted Weighted Average Diluted Shares Outstanding	71.85M	74.39M	76.86M	84.06M	86.72M	90.07M	92.15M	93.59M	95.21M	94.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	70.25M	71.85M	73.49M	155.77M	166.83M	85.43M	85.86M	89.81M	91.89M	92.62M
Normalized Net Operating Profit after Tax (NOPAT)	1,272	1,228	1,082	941	776	1,023	808	732	531	451
Normalized NOPAT Margin	32.01%	32.67%	31.58%	33.20%	32.48%	38.61%	33.21%	32.54%	28.97%	26.51%
Pre Tax Income Margin	34.85%	35.26%	37.22%	39.13%	36.94%	40.69%	45.00%	39.72%	35.10%	31.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.57	4.80	8.67	9.54	7.57	8.21	8.84	9.57	10.45	9.32
NOPAT to Interest Expense	3.34	3.52	6.50	7.24	5.98	6.82	5.75	6.63	7.38	6.33
EBIT Less CapEx to Interest Expense	4.12	4.36	7.76	8.68	6.96	7.71	8.26	8.94	9.63	8.73
NOPAT Less CapEx to Interest Expense	2.89	3.08	5.59	6.38	5.37	6.31	5.17	5.99	6.56	5.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	128.32%	69.95%	147.25%	161.49%	120.69%	77.64%	118.14%	54.36%	41.49%	0.00%

This table displays calculated financial ratios and metrics derived from Corpay's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.36%	6.01%	2.90%	3.76%	6.08%	8.72%	10.09%	14.20%	10.14%	18.20%
EBITDA Growth	12.78%	2.67%	2.94%	4.46%	9.73%	17.33%	11.84%	16.39%	11.73%	12.46%
EBIT Growth	13.30%	2.14%	3.32%	5.28%	13.67%	18.92%	13.13%	18.18%	10.08%	14.33%
NOPAT Growth	-4.66%	10.58%	7.74%	9.40%	16.30%	14.55%	7.16%	16.33%	10.51%	10.79%
Net Income Growth	-3.85%	1.76%	4.99%	6.97%	13.55%	9.08%	-8.57%	-1.43%	0.14%	6.36%
EPS Growth	-1.44%	7.14%	10.00%	8.33%	14.85%	10.64%	-4.48%	4.73%	10.58%	17.50%
Operating Cash Flow Growth	-9.47%	40.30%	144.43%	-60.10%	126.60%	-28.00%	43.60%	881.86%	-47.08%	63.21%
Free Cash Flow Firm Growth	-35.83%	647.51%	436.09%	4,672.90%	289.52%	-551.35%	158.42%	103.28%	-245.85%	110.72%
Invested Capital Growth	-2.48%	-13.84%	-11.11%	-7.72%	-5.83%	8.28%	1.29%	3.60%	10.29%	3.32%
Revenue Q/Q Growth	0.51%	5.48%	4.33%	-0.22%	-3.46%	2.40%	5.20%	2.01%	-1.05%	3.68%
EBITDA Q/Q Growth	3.06%	8.61%	7.12%	-5.93%	-6.18%	8.88%	8.70%	-1.18%	0.32%	3.79%
EBIT Q/Q Growth	2.97%	9.19%	8.79%	-7.37%	-7.17%	10.44%	10.85%	0.02%	-2.88%	5.06%
NOPAT Q/Q Growth	-14.08%	10.62%	9.10%	-8.07%	-0.34%	7.77%	10.79%	-2.27%	-1.84%	0.82%
Net Income Q/Q Growth	-10.95%	9.77%	9.51%	-10.18%	-5.76%	13.26%	11.57%	-4.65%	-9.47%	-5.07%
EPS Q/Q Growth	-12.05%	10.80%	12.82%	-10.34%	-4.40%	13.75%	11.11%	-4.95%	-7.90%	-1.79%
Operating Cash Flow Q/Q Growth	61.85%	-25.91%	54.47%	-70.75%	150.81%	29.09%	-74.79%	177.58%	-20.31%	157.46%
Free Cash Flow Firm Q/Q Growth	-66.31%	25.77%	30.42%	16.11%	387.47%	-223.15%	1,061.16%	104.61%	-784.62%	115.94%
Invested Capital Q/Q Growth	0.40%	2.65%	-5.12%	-0.28%	-11.29%	5.90%	-1.51%	1.77%	2.01%	-0.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.88%	78.27%	78.56%	77.82%	78.51%	78.55%	78.35%	77.26%	77.18%	77.23%
EBITDA Margin	55.75%	54.37%	52.81%	51.43%	54.55%	56.13%	52.79%	51.09%	52.74%	52.02%
Operating Margin	47.21%	45.49%	44.41%	42.48%	45.24%	45.83%	43.52%	41.63%	41.79%	43.58%
EBIT Margin	46.61%	45.50%	43.95%	42.15%	45.40%	47.22%	43.78%	41.54%	42.37%	43.17%
Profit (Net Income) Margin	23.78%	26.84%	25.79%	24.57%	27.30%	27.96%	25.28%	23.84%	25.50%	27.87%
Tax Burden Percent	63.51%	77.11%	75.30%	75.27%	76.72%	73.36%	73.40%	72.86%	75.75%	73.22%
Interest Burden Percent	80.34%	76.52%	77.93%	77.44%	78.37%	80.73%	78.68%	78.74%	79.45%	88.17%
Effective Tax Rate	36.49%	22.89%	24.70%	24.73%	23.28%	26.64%	26.60%	27.14%	24.25%	26.78%
Return on Invested Capital (ROIC)	17.76%	19.08%	18.70%	17.18%	18.62%	16.91%	16.12%	14.88%	15.77%	15.34%
ROIC Less NNEP Spread (ROIC-NNEP)	15.93%	16.98%	16.74%	15.44%	16.92%	15.74%	14.62%	13.52%	14.47%	14.49%
Return on Net Nonoperating Assets (RNNOA)	17.32%	22.24%	21.13%	19.92%	23.78%	28.13%	20.69%	20.20%	22.34%	22.85%
Return on Equity (ROE)	35.08%	41.31%	39.83%	37.09%	42.40%	45.04%	36.80%	35.08%	38.11%	38.19%
Cash Return on Invested Capital (CROIC)	21.81%	33.27%	30.45%	25.79%	23.54%	8.10%	14.59%	12.01%	5.94%	11.91%
Operating Return on Assets (OROA)	11.08%	10.72%	10.70%	10.51%	11.54%	11.76%	10.62%	10.21%	10.56%	10.34%
Return on Assets (ROA)	5.65%	6.33%	6.28%	6.13%	6.94%	6.96%	6.13%	5.86%	6.36%	6.67%
Return on Common Equity (ROCE)	34.95%	41.13%	39.66%	36.93%	42.40%	45.04%	36.80%	35.08%	38.11%	38.19%
Return on Equity Simple (ROE_SIMPLE)	0.00%	32.83%	36.67%	30.63%	0.00%	31.10%	28.46%	33.01%	0.00%	42.84%
Net Operating Profit after Tax (NOPAT)	310	361	326	299	325	326	303	273	280	285
NOPAT Margin	29.98%	35.07%	33.44%	31.98%	34.71%	33.62%	31.94%	30.33%	31.66%	31.91%
Net Nonoperating Expense Percent (NNEP)	1.84%	2.10%	1.96%	1.74%	1.70%	1.16%	1.50%	1.35%	1.30%	0.85%
Return On Investment Capital (ROIC_SIMPLE)	2.78%	-	-	-	3.25%	-	-	-	2.92%	-
Cost of Revenue to Revenue	22.12%	21.73%	21.44%	22.18%	21.49%	21.45%	21.65%	22.74%	22.82%	22.77%
SG&A Expenses to Revenue	24.72%	24.08%	25.50%	26.24%	24.30%	24.08%	25.92%	26.21%	25.21%	25.01%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	30.67%	32.78%	34.15%	35.34%	33.27%	32.72%	34.83%	35.63%	35.39%	33.65%
Earnings before Interest and Taxes (EBIT)	482	468	429	394	426	458	415	374	374	385
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	577	560	515	481	511	545	501	460	466	465
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.56	7.03	6.81	6.81	6.22	6.17	5.68	5.38	5.33	5.93
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.94	5.60	4.90	5.85	5.43	5.10	5.11	4.38	3.95	3.95
Price to Earnings (P/E)	23.50	21.42	18.56	22.24	20.78	19.85	19.96	16.29	14.20	13.85
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.25%	4.67%	5.39%	4.50%	4.81%	5.04%	5.01%	6.14%	7.04%	7.22%
Enterprise Value to Invested Capital (EV/IC)	4.09	3.83	3.49	3.79	3.52	3.07	3.11	2.72	2.53	2.55
Enterprise Value to Revenue (EV/Rev)	6.82	6.52	5.88	6.78	6.36	6.34	6.21	5.64	5.32	5.40
Enterprise Value to EBITDA (EV/EBITDA)	12.71	12.23	10.95	12.61	11.86	11.91	11.90	10.85	10.27	10.47
Enterprise Value to EBIT (EV/EBIT)	15.28	14.73	13.16	15.17	14.29	14.48	14.53	13.29	12.62	12.82
Enterprise Value to NOPAT (EV/NOPAT)	20.92	19.28	17.60	20.50	19.48	19.86	19.73	17.80	16.84	17.10
Enterprise Value to Operating Cash Flow (EV/OCF)	13.96	12.59	11.87	16.33	11.38	13.81	12.42	11.44	24.14	17.43
Enterprise Value to Free Cash Flow (EV/FCFF)	18.51	10.66	10.80	14.11	14.51	39.37	21.46	23.04	44.56	21.80
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.54	2.49	2.64	2.06	2.05	2.28	2.07	2.36	2.77	3.24
Long-Term Debt to Equity	1.66	1.69	1.74	1.48	1.40	1.52	1.43	1.63	1.86	2.13
Financial Leverage	1.09	1.31	1.26	1.29	1.41	1.79	1.42	1.49	1.54	1.58
Leverage Ratio	5.20	5.33	5.20	4.93	5.08	5.63	5.02	4.98	5.08	5.17
Compound Leverage Factor	4.18	4.08	4.05	3.82	3.98	4.54	3.95	3.92	4.04	4.56
Debt to Total Capital	71.76%	71.37%	72.54%	67.33%	67.19%	69.53%	67.41%	70.23%	73.47%	76.43%
Short-Term Debt to Total Capital	24.86%	22.90%	24.89%	18.93%	21.26%	23.36%	20.69%	21.67%	24.16%	26.21%
Long-Term Debt to Total Capital	46.90%	48.47%	47.66%	48.40%	45.94%	46.18%	46.72%	48.56%	49.31%	50.22%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.21%	0.25%	0.25%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	28.02%	28.38%	27.21%	32.39%	32.81%	30.47%	32.59%	29.77%	26.53%	23.57%
Debt to EBITDA	3.75	3.76	3.57	3.32	3.33	3.54	3.57	3.70	3.97	4.19
Net Debt to EBITDA	1.63	1.71	1.81	1.71	1.74	2.33	2.10	2.43	2.63	2.81
Long-Term Debt to EBITDA	2.45	2.55	2.35	2.39	2.28	2.35	2.47	2.56	2.66	2.75
Debt to NOPAT	6.17	5.92	5.74	5.40	5.48	5.91	5.92	6.06	6.50	6.84
Net Debt to NOPAT	2.69	2.70	2.92	2.79	2.86	3.89	3.48	3.98	4.32	4.59
Long-Term Debt to NOPAT	4.04	4.02	3.77	3.88	3.74	3.92	4.10	4.19	4.36	4.49
Altman Z-Score	1.98	1.94	1.92	2.16	2.10	2.01	2.01	1.85	1.76	1.64
Noncontrolling Interest Sharing Ratio	0.37%	0.44%	0.41%	0.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.00	1.05	1.02	1.07	1.04	1.02	1.08	1.03	1.01	0.99
Quick Ratio	0.57	0.63	0.66	0.74	0.71	0.76	0.77	0.79	0.79	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	479	1,421	1,130	866	746	-260	211	18	-394	57
Operating Cash Flow to CapEx	1,470.61%	875.50%	1,226.69%	850.11%	1,954.24%	747.12%	524.58%	2,389.05%	721.94%	967.65%
Free Cash Flow to Firm to Interest Expense	5.05	12.98	11.93	9.72	8.11	-2.94	2.38	0.23	-5.17	1.27
Operating Cash Flow to Interest Expense	6.84	3.66	5.71	3.93	7.78	3.24	2.50	11.00	4.16	8.74
Operating Cash Flow Less CapEx to Interest Expense	6.37	3.24	5.25	3.47	7.39	2.80	2.02	10.54	3.58	7.83
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.24	0.24	0.25	0.25	0.25	0.24	0.25	0.25	0.24
Accounts Receivable Turnover	1.16	0.97	1.01	1.02	1.10	0.96	0.93	0.96	1.09	0.98
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	11.03	10.95	11.12	11.45	11.78	12.29	12.30	12.53	12.91	13.57
Accounts Payable Turnover	0.54	0.45	0.46	0.44	0.51	0.46	0.44	0.41	0.51	0.43
Days Sales Outstanding (DSO)	316.00	376.76	359.81	358.60	331.24	380.27	390.42	381.27	333.52	372.89
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	671.01	806.74	791.28	833.95	710.93	798.77	827.17	886.69	710.06	849.78
Cash Conversion Cycle (CCC)	-355.01	-429.98	-431.48	-475.35	-379.68	-418.51	-436.76	-505.42	-376.55	-476.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,626	6,599	6,429	6,775	6,794	7,659	7,232	7,342	7,215	7,073
Invested Capital Turnover	0.59	0.54	0.56	0.54	0.54	0.50	0.50	0.49	0.50	0.48
Increase / (Decrease) in Invested Capital	-169	-1,060	-803	-567	-421	586	92	255	673	227
Enterprise Value (EV)	27,095	25,286	22,467	25,691	23,917	23,484	22,507	19,956	18,220	18,061
Market Capitalization	23,592	21,716	18,720	22,170	20,406	18,884	18,538	15,496	13,547	13,215
Book Value per Share	$44.79	$44.46	$39.15	$45.29	$45.46	$41.37	$44.20	$39.21	$34.46	$29.69
Tangible Book Value per Share	($75.64)	($71.91)	($67.63)	($61.97)	($61.61)	($63.00)	($58.47)	($63.90)	($64.96)	($66.80)
Total Capital	11,142	10,877	10,109	10,046	10,005	10,042	10,013	9,679	9,578	9,448
Total Debt	7,996	7,763	7,333	6,764	6,723	6,983	6,749	6,798	7,037	7,221
Total Long-Term Debt	5,226	5,272	4,818	4,863	4,596	4,637	4,678	4,701	4,723	4,745
Net Debt	3,480	3,543	3,722	3,493	3,512	4,600	3,969	4,461	4,673	4,846
Capital Expenditures (CapEx)	44	46	44	41	37	38	42	37	44	41
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,718	-1,233	-898	-815	-756	152	-152	-17	88	123
Debt-free Net Working Capital (DFNWC)	2,738	2,922	2,649	2,388	2,385	2,468	2,559	2,252	2,377	2,424
Net Working Capital (NWC)	-32	431	133	486	259	122	488	155	63	-52
Net Nonoperating Expense (NNE)	64	85	75	69	69	55	63	59	54	36
Net Nonoperating Obligations (NNO)	3,480	3,485	3,653	3,493	3,512	4,600	3,969	4,461	4,673	4,846
Total Depreciation and Amortization (D&A)	95	91	86	87	86	87	85	86	92	79
Debt-free, Cash-free Net Working Capital to Revenue	-43.23%	-31.79%	-23.52%	-21.49%	-20.13%	4.11%	-4.20%	-0.48%	2.56%	3.68%
Debt-free Net Working Capital to Revenue	68.89%	75.37%	69.36%	62.98%	63.48%	66.63%	70.57%	63.64%	69.35%	72.45%
Net Working Capital to Revenue	-0.81%	11.12%	3.49%	12.83%	6.88%	3.29%	13.45%	4.39%	1.83%	-1.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.50	$3.98	$3.59	$3.20	$3.55	$3.71	$3.24	$2.92	$3.06	$3.34
Adjusted Weighted Average Basic Shares Outstanding	70.33M	69.52M	70.11M	71.77M	73.16M	73.17M	73.89M	73.52M	75.60M	74.46M
Adjusted Diluted Earnings per Share	$3.43	$3.90	$3.52	$3.12	$3.48	$3.64	$3.20	$2.88	$3.03	$3.29
Adjusted Weighted Average Diluted Shares Outstanding	71.85M	70.90M	71.50M	73.55M	74.39M	74.60M	75.00M	74.48M	76.86M	75.56M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	70.25M	69.71M	69.43M	70.27M	71.85M	72.20M	73.96M	73.83M	73.49M	73.75M
Normalized Net Operating Profit after Tax (NOPAT)	310	361	326	299	325	326	303	273	280	285
Normalized NOPAT Margin	29.98%	35.07%	33.44%	31.98%	34.71%	33.62%	31.94%	30.33%	31.66%	31.91%
Pre Tax Income Margin	37.44%	34.81%	34.25%	32.64%	35.58%	38.12%	34.44%	32.71%	33.66%	38.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.08	4.28	4.53	4.43	4.62	5.19	4.69	4.69	4.92	8.49
NOPAT to Interest Expense	3.27	3.30	3.45	3.36	3.53	3.70	3.42	3.43	3.68	6.28
EBIT Less CapEx to Interest Expense	4.62	3.86	4.06	3.96	4.23	4.76	4.21	4.23	4.35	7.59
NOPAT Less CapEx to Interest Expense	2.81	2.88	2.98	2.89	3.14	3.26	2.95	2.97	3.10	5.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	128.32%	116.34%	160.78%	96.91%	69.95%	69.00%	66.96%	104.29%	147.25%	191.73%

Frequently Asked Questions About Corpay's Financials

When does Corpay's fiscal year end?

According to the most recent income statement we have on file, Corpay's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Corpay's net income changed over the last 9 years?

Corpay's net income appears to be on an upward trend, with a most recent value of $1.00 billion in 2024, rising from $362.43 million in 2015. The previous period was $981.89 million in 2023. View Corpay's forecast to see where analysts expect Corpay to go next.

What is Corpay's operating income?

Corpay's total operating income in 2024 was $1.79 billion, based on the following breakdown:

Total Gross Profit: $3.11 billion
Total Operating Expenses: $1.32 billion

How has Corpay revenue changed over the last 9 years?

Over the last 9 years, Corpay's total revenue changed from $1.70 billion in 2015 to $3.97 billion in 2024, a change of 133.4%.

How much debt does Corpay have?

Corpay's total liabilities were at $14.81 billion at the end of 2024, a 21.5% increase from 2023, and a 192.7% increase since 2015.

How much cash does Corpay have?

In the past 9 years, Corpay's cash and equivalents has ranged from $447.15 million in 2015 to $1.55 billion in 2024, and is currently $1.55 billion as of their latest financial filing in 2024.

How has Corpay's book value per share changed over the last 9 years?

Over the last 9 years, Corpay's book value per share changed from 30.71 in 2015 to 44.79 in 2024, a change of 45.9%.

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This page (NYSE:CPAY) was last updated on 5/28/2025 by MarketBeat.com Staff

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Corpay (CPAY) Financials

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Corpay (CPAY) Financials

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