Corpay (CPAY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Corpay

NYSE•Technology•Software - Infrastructure

$404.26+1.99(<0.01%)After hours

Market Cap

$26.50B

P/E

23.2x

P/S

5.3x

P/B

7.5x

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.

How this company scores

GoodMetricSide Score: 65/100

Strongest: Growth (23/25); weakest: Balance Sheet & Red Flags (8/25).

Profitability21/25

Growth23/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality13/25

Strengths

Growing revenueStrong marginsHigh ROECash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 23.2x5y range 14.1x – 26.4x

Currently near its 20-quarter median.

P/S · 5.3x5y range 3.9x – 8.2x

Currently near its 20-quarter median.

P/B · 7.5x5y range 5.1x – 7.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

D/E ratio of 3.0 is elevated and rising. Watch for further debt accumulation.

Price & Volume

Market Cap $26.50B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $5.02B
Q. Revenue: $1.34B
TTM EBITDA: $2.64B
TTM Op. Income: $2.20B
Q. Op. Income: $472.27M
TTM Net Income: $1.14B
Q. Net Income: $248.31M
EPS: $3.75
Shares Out.: $65.54M

$5.02B in TTM revenue grew 20.4% YoY, reaching $1.34B last quarter. TTM EBITDA of $2.64B and TTM operating income of $2.20B show growth is flowing through to the bottom line. TTM net income of $1.14B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 44.1%
Op. Margin: 35.3%
Net Margin: 18.5%

Op. margin of 35.3% is down 8.2% YoY — costs are rising relative to revenue. Net margin at 18.5% Over the past year, operating margin is down 19% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 23.2x
P/S Ratio: 5.3x
P/B Ratio: 7.5x

At 23.2x P/E, the stock trades within typical market levels. P/S of 5.3x and P/B of 7.5x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 4% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $28.22B
Cash: $3.16B
Long-Term Debt: $10.62B
Book Value: $3.54B
D/E Ratio: 3.0
Debt/EBITDA: 18.0

With $28.22B in assets and $10.62B in long-term debt, D/E is 3.0and book value is $3.54B — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.47B
TTM Free Cash Flow: $1.64B
FCF Margin: 32.6%
FCF / Net Income: 1.4

TTM FCF of $1.64B on $1.47B in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.