Corpay, Inc. (CPAY) Financial Statements

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Corpay financial statements at a glance

Corpay reported revenue of $4.53 billion for fiscal year 2025 (ended December 31, 2025), up 13.9% from fiscal year 2024. Net income was $1.07 billion, a net margin of 23.6%, and diluted earnings per share were $15.03.

At the end of fiscal year 2025 it had total assets of $26.41 billion, total liabilities of $22.18 billion and shareholders' equity of $3.88 billion, with cash and short-term investments of $2.41 billion and total debt of $10.00 billion.

Its operations brought in $1.50 billion of cash; capital spending was $200.76 million, leaving free cash flow of $1.30 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

CPAY logo

Corpay, Inc.

CPAYUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
4.53B
Prev Year: 3.97B
YoY: +13.9%
Operating Revenue
4.53B
Prev Year: 3.97B
YoY: +13.9%
Total Unusual Items Excluding Goodwill
40.66M
Prev Year: 26.03M
YoY: +56.2%
Total Unusual Items
40.66M
Prev Year: 26.03M
YoY: +56.2%
Normalized EBITDA
2.30B
Prev Year: 2.09B
YoY: +9.8%
Tax Rate for Calcs
0.305
Prev Year: 0
Tax Effect of Unusual Items
12.40M
Prev Year: 7.16M
YoY: +73.3%
Average Dilution Earnings
-1.48M
Noncontrolling Interests
-2.12M
Prev Year: 14.0K
YoY: -15257.1%
Gain on Sale of Business
42.26M
Prev Year: 121.31M
YoY: -65.2%
Other Special Charges
1.60M
Prev Year: 5.04M
YoY: -68.3%
Other Operating Expenses
2.06M
Prev Year: 789.0K
YoY: +161.1%
Depreciation Amortization Depletion
393.30M
Prev Year: 351.09M
YoY: +12.0%
Depreciation and amortization
393.30M
Prev Year: 351.09M
YoY: +12.0%
Cost of Revenue
969.18M
Prev Year: 869.09M
YoY: +11.5%
Gross Profit
3.56B
Prev Year: 3.11B
YoY: +14.6%
Operating Expense
1.61B
Prev Year: 1.35B
YoY: +19.1%
Selling General and Administrative
1.21B
Prev Year: 997.78M
YoY: +21.5%
General and Administrative Expense
733.03M
Prev Year: 616.87M
YoY: +18.8%
Other General and Administrative
733.03M
Prev Year: 616.87M
YoY: +18.8%
Selling and Marketing Expense
478.99M
Prev Year: 380.91M
YoY: +25.7%
Operating Income
1.95B
Prev Year: 1.76B
YoY: +11.2%
Net Non Operating Interest Income Expense
-403.85M
Prev Year: -383.04M
YoY: -5.4%
Non-operating Interest Expense
403.85M
Prev Year: 383.04M
YoY: +5.4%
Other Income Expense
-6.32M
Prev Year: 12.31M
YoY: -151.3%
Special Income Charges
40.66M
Prev Year: 26.27M
YoY: +54.8%
Gain on Sale of Securities
-
Prev Year: -239.0K
Other Non-operating Income (expense)
-46.98M
Prev Year: -13.72M
YoY: -242.4%
Equity in Earnings of Affiliates
-
Pre-tax Income
1.54B
Prev Year: 1.39B
YoY: +11.3%
Provision for Income Taxes
469.73M
Prev Year: 381.38M
YoY: +23.2%
Net Income Common Stockholders
1.07B
Prev Year: 1.00B
YoY: +6.6%
Net Income
1.07B
Prev Year: 1.00B
YoY: +6.6%
Net Income Including Non-Controlling Interests
1.07B
Prev Year: 1.00B
YoY: +6.8%
Net Income from Continuing Operations
1.07B
Prev Year: 1.00B
YoY: +6.8%
Diluted NI Available to Com Stockholders
1.07B
Prev Year: 1.00B
YoY: +6.4%
Basic EPS
15.23
Diluted EPS
15.03
Weighted Average Shares (basic)
70.14M
Weighted Average Shares (diluted)
71.06M
Total Operating Income as Reported
1.99B
Prev Year: 1.79B
YoY: +11.6%
Total Expenses
2.58B
Prev Year: 2.22B
YoY: +16.1%
Net Income from Continuing and Discontinued Operation
1.07B
Prev Year: 1.00B
YoY: +6.6%
Normalized Income
1.04B
Prev Year: 984.87M
YoY: +5.8%
Interest Expense
403.85M
Prev Year: 383.04M
YoY: +5.4%
Net Interest Income
-403.85M
Prev Year: -383.04M
YoY: -5.4%
EBIT
1.95B
Prev Year: 1.77B
YoY: +10.0%
EBITDA
2.34B
Prev Year: 2.12B
YoY: +10.4%
Reconciled Cost of Revenue
969.18M
Prev Year: 869.09M
YoY: +11.5%
Reconciled Depreciation
393.30M
Prev Year: 351.09M
YoY: +12.0%
Net Income from Continuing Operation Net Minority Interest
1.07B
Prev Year: 1.00B
YoY: +6.6%
Values in USD

Corpay key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$4.5B$4.0B$3.8B$3.4B$2.8B
Gross profit$3.6B$3.1B$2.9B$2.7B$2.3B
Operating income$2.0B$1.8B$1.7B$1.4B$1.2B
Net income$1.1B$1.0B$981.9M$954.3M$839.5M
Diluted EPS$15.03–$13.20$12.42$9.99
Total assets$26.4B$18.0B$15.5B$14.1B$13.4B
Total liabilities$22.2B$14.8B$12.2B$11.5B$10.5B
Shareholders' equity$3.9B$3.1B$3.3B$2.5B$2.9B
Cash and short-term investments$2.4B$1.6B$1.4B$1.4B$1.5B
Total debt$10.0B$8.0B$6.7B$7.0B$6.0B
Operating cash flow$1.5B$1.9B$2.1B$754.8M$1.2B
Capital spending$200.8M$175.2M$153.8M$151.4M$111.5M
Free cash flow$1.3B$1.8B$1.9B$603.4M$1.1B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Corpay's revenue in fiscal year 2025?

$4.53 billion, up 13.9% from $3.97 billion in fiscal year 2024.

How much profit does Corpay make?

Corpay reported net income of $1.07 billion for fiscal year 2025 (23.6% of revenue); operating income was $1.95 billion.

How much cash and debt does Corpay have?

At the end of fiscal year 2025: cash and short-term investments of $2.41 billion and total debt of $10.00 billion.

What is Corpay's free cash flow?

$1.30 billion in fiscal year 2025 (operating cash flow of $1.50 billion minus capital spending of $200.76 million).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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