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Corpay Inc
(NYSE:CPAY)
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Rating:79Outperform
Price Target:
$452.00
▲(21.97% Upside)
Action:Reiterated
Date:08/06/26
CPAY’s score is driven primarily by strong technical momentum and a very constructive earnings update (raised full-year guidance alongside sustained organic growth and significant buybacks). Financial performance is solid on profitability and free cash flow, but the overall score is tempered by elevated leverage and modest cash-flow-to-debt coverage. Valuation appears reasonable but not notably cheap at a ~22.6 P/E, with no dividend yield provided.
Positive Factors
Strong cash generation
Sustained high operating and free cash flow provides durable funding for organic investment, acquisitions, debt reduction and share repurchases. Over a 2–6 month horizon this underpins financial flexibility and supports capital allocation even if near-term revenue volatility occurs.
Negative Factors
Elevated leverage
A debt-heavy capital structure amplifies downside risk if growth slows or interest costs rise. High leverage limits strategic optionality, increases sensitivity to adverse macro moves, and constrains the pace of buybacks or M&A unless cash generation or deleveraging accelerates.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained high operating and free cash flow provides durable funding for organic investment, acquisitions, debt reduction and share repurchases. Over a 2–6 month horizon this underpins financial flexibility and supports capital allocation even if near-term revenue volatility occurs.
Read all positive factors
Corpay Inc Key Performance Indicators (KPIs)
Corpay Inc (CPAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.98B
Dividend YieldN/A
Average Volume (3M)640.09K
Price to Earnings (P/E)22.6
Beta (1Y)1.34
Revenue Growth18.26%
EPS Growth16.45%
CountryUS
Employees11,800
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)16.65
Shares Outstanding65,361,916
10 Day Avg. Volume448,895
30 Day Avg. Volume640,093
Financial Highlights & Ratios
PEG Ratio2.87
Price to Book (P/B)5.43
Price to Sales (P/S)4.66
P/FCF Ratio16.25
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$433.91Price Target Upside17.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)26.76
Revenue Forecast (FY)$5.30B
Corpay Inc Business Overview & Revenue Model
Company Description
Corpay, Inc. operates as a global financial technology firm, delivering payment solutions that assist both businesses and individual consumers in efficiently managing a diverse range of expenditures. Its expertise primarily covers vehicle-related ...
How the Company Makes Money
Corpay makes money primarily by monetizing payment volume and related financial services across its major solution areas: (1) Fleet payments: Corpay earns revenue when customers use its fleet cards and related programs to purchase fuel and other v...
Corpay Inc Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive quarter and upgraded full-year guidance driven by robust organic growth (11%), a Q1 beat, and high-performing recent acquisitions (Alpha and Avid). Corporate Payments and cross-border businesses exhibited especially strong momentum, balance sheet metrics and share buybacks demonstrate financial flexibility, and management outlined a clear portfolio rotation strategy. Headwinds include float revenue compression, higher operating costs and modest margin pressure from acquisitions, plus some execution dependence for the middle-market push and sensitivity to macro/fuel prices. Overall, the highlights substantially outweigh the lowlights.Positive Updates
Blowout Q1 Financial Results
Reported revenue of $1.26 billion, up 25% year-over-year, and cash EPS of $5.80, up 29%; Q1 revenue beat vs guidance of ~$50 million with ~2/3 attributable to stronger business performance (not macro).
Negative Updates
Float Revenue Compression
Corporate Payments faced ~200 basis points drag from float revenue compression driven by lower interest rates, reducing what otherwise would have been higher organic growth.
Read all updates
Q1-2026 Updates
Positive
Negative
Blowout Q1 Financial Results
Reported revenue of $1.26 billion, up 25% year-over-year, and cash EPS of $5.80, up 29%; Q1 revenue beat vs guidance of ~$50 million with ~2/3 attributable to stronger business performance (not macro).
Read all positive updates
Company Guidance
Corpay raised full‑year 2026 revenue guidance to $5.29 billion at the midpoint (implying ~17% y/y growth) and raised full‑year cash EPS guidance to $26.70 at the midpoint (about 25% y/y), driven by the $50 million Q1 revenue beat (and a $0.35 Q1 EPS beat) plus an incremental $50 million of rest‑of‑year revenue (largely higher fuel price expectations) offset by a $75 million reduction for the March 31 PayByPhone divestiture; management continues to expect 10% organic revenue growth for the year. For Q2 they guided revenue of $1.295 billion (18% y/y), organic growth of 9–11%, and adjusted EPS of $6.55 (28% y/y); the outlook also reflects the benefit of year‑to‑date share repurchases (≈$786 million for 2.4 million shares) which, along with expected lower share count, should largely offset higher interest expense (note the company expects a refinancing that upsizes the facility by >$1 billion and trims rates by ~10 bps but has not been incorporated into guidance).Corpay Inc Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
58
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.02B | 4.53B | 3.97B | 3.76B | 3.43B | 2.83B |
| Gross Profit | 3.68B | 3.17B | 3.11B | 2.94B | 2.66B | 2.27B |
| EBITDA | 2.43B | 2.34B | 2.12B | 2.01B | 1.76B | 1.51B |
| Net Income | 1.14B | 1.07B | 1.00B | 981.89M | 954.33M | 839.50M |
Balance Sheet | ||||||
| Total Assets | 28.22B | 26.41B | 17.96B | 15.48B | 14.09B | 13.40B |
| Cash, Cash Equivalents and Short-Term Investments | 3.16B | 8.99B | 1.55B | 1.39B | 1.44B | 1.52B |
| Total Debt | 8.32B | 10.12B | 8.00B | 6.72B | 7.04B | 5.98B |
| Total Liabilities | 24.64B | 22.18B | 14.81B | 12.19B | 11.55B | 10.54B |
| Stockholders Equity | 3.54B | 3.88B | 3.12B | 3.28B | 2.54B | 2.87B |
Cash Flow | ||||||
| Free Cash Flow | 1.53B | 1.30B | 1.77B | 1.95B | 603.37M | 1.09B |
| Operating Cash Flow | 1.79B | 1.50B | 1.94B | 2.10B | 754.80M | 1.20B |
| Investing Cash Flow | 2.14B | 1.23B | -807.48M | -380.72M | -368.35M | -715.93M |
| Financing Cash Flow | 647.56M | 1.56B | 404.99M | -898.21M | -311.23M | 343.93M |
Corpay Inc Technical Analysis
Positive
370.58
Price Trends
358.85
Positive
336.27
Positive
322.40
Positive
Market Momentum
11.09
Negative
65.26
Neutral
82.48
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CPAY, the sentiment is Positive. The current price of 370.58 is below the 20-day moving average (MA) of 372.98, above the 50-day MA of 358.85, and above the 200-day MA of 322.40, indicating a bullish trend. The MACD of 11.09 indicates Negative momentum. The RSI at 65.26 is Neutral, neither overbought nor oversold. The STOCH value of 82.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CPAY.
Corpay Inc Risk Analysis
Corpay Inc disclosed 69 risk factors in its most recent earnings report. Corpay Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Corpay Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $2.42B | 35.64 | 10.01% | ― | 7.19% | -36.03% | |
79 Outperform | $24.98B | 22.57 | 30.57% | ― | 18.26% | 16.45% | |
79 Outperform | $18.72B | 46.10 | 20.74% | ― | 23.44% | 151.36% | |
66 Neutral | $2.72B | 10.31 | 22.95% | ― | 5.76% | ― | |
63 Neutral | $6.37B | 18.38 | 28.22% | ― | 7.46% | 27.03% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $4.20B | 59.15 | 6.42% | ― | 28.28% | -72.43% |
* Technology Sector Average
CPAY
Corpay Inc
394.53
79.46
25.22%
EEFT
Euronet Worldwide
74.27
-18.14
-19.63%
WEX
WEX
188.40
16.45
9.57%
FOUR
Shift4 Payments
53.38
-28.82
-35.06%
PAYO
Payoneer
7.12
-0.30
-4.04%
TOST
Toast Inc
34.80
-11.14
-24.25%
Corpay Inc Corporate Events
Business Operations and StrategyStock BuybackFinancial DisclosuresLegal ProceedingsPrivate Placements and Financing
Corpay Raises 2026 Outlook After Strong Q2 Results
Positive
Aug 5, 2026
Corpay reported strong second-quarter 2026 results, with revenues rising 21% year on year to $1.34 billion and organic revenue up 10%, while adjusted net income per diluted share jumped 36% to $7.00. Despite a 13% drop in GAAP net income tied to a...
Executive/Board Changes
Corpay Grants Performance-Based RSUs to Top Executives
Positive
Jul 24, 2026
On July 22, 2026, Corpay’s board compensation committee approved special performance-based restricted stock unit awards for Chief Executive Officer Ronald F. Clarke and executive Armando L. Netto under the company’s equity compensation...
Business Operations and StrategyPrivate Placements and Financing
Corpay Expands and Refinances Credit Facilities to 2032
Positive
May 22, 2026
On May 21, 2026, Corpay Inc. completed an amendment and refinancing of its long-standing credit facility, boosting its revolving credit commitments to $3.7 billion and increasing Term Loan A borrowings to $3.3 billion, both with new five-year matu...
Business Operations and Strategy
Corpay Highlights Cross-Border Business in New Investor Presentation
Positive
May 12, 2026
On May 12, 2026, Corpay, Inc. announced that it had posted an investor presentation on its website to support a virtual teach-in focused on its Cross-Border Business, scheduled for May 13, 2026. The presentation provides summary information about ...
Executive/Board ChangesShareholder Meetings
Corpay Shareholders Back Board, Auditor Amid Pay Scrutiny
Neutral
May 12, 2026
At its May 7, 2026 annual meeting, Corpay Inc. shareholders elected all twelve board nominees to one-year terms, with most directors receiving strong majorities despite a few drawing higher opposition. Investors also overwhelmingly ratified the re...
Business Operations and StrategyStock BuybackFinancial Disclosures
Corpay Raises 2026 Outlook After Strong First Quarter
Positive
May 7, 2026
Corpay reported strong first quarter 2026 results on May 7, with revenue up 25% year over year to $1.26 billion and net income up 44% to $350.1 million, aided by an $81 million gain on a business sale. Organic revenue grew 11% for the fourth strai...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.