Corpay Inc (CPAY) AI Stock Analysis

• Market Cap: $22.74B
• Dividend Yield: N/A
• Average Volume (3M): 673.63K
• Price to Earnings (P/E): 21.6
• Beta (1Y): 1.15
• Revenue Growth: 11.27%
• EPS Growth: 4.47%
• Country: US
• Employees: 11,200
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 6.04
• Shares Outstanding: 69,958,050
• 10 Day Avg. Volume: 750,920
• 30 Day Avg. Volume: 673,635
• PEG Ratio: 2.87
• Price to Book (P/B): 5.43
• Price to Sales (P/S): 4.66
• P/FCF Ratio: 16.25
• Enterprise Value/Market Cap: 1.25
• Enterprise Value/Revenue: 6.27
• Enterprise Value/Gross Profit: 8.48
• Enterprise Value/Ebitda: 12.15
• 1Y Price Target: $378.50
• Price Target Upside: 16.43% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 26.01
• Revenue Forecast (FY): $5.28B

• Rating: 77 Outperform
• Price Target: $402.00 ▲(23.65% Upside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is driven primarily by strong profitability/cash generation (despite leverage risk) and a bullish technical setup, supported by an upbeat earnings outlook with double-digit organic growth targets. Valuation is less compelling at a mid-to-high P/E and leverage/integration risks temper the upside.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong demand for Corpay's services, enhancing its market position and long-term financial stability.

Strategic Acquisitions

Strategic acquisitions like Alpha Group enhance Corpay's service offerings and market reach, driving future growth and competitive advantage.

Corporate Payments Segment

The Corporate Payments segment's growth potential underscores Corpay's strategic focus on high-demand areas, supporting long-term revenue expansion.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting Corpay's ability to invest in growth opportunities.

Declining Free Cash Flow

Declining free cash flow growth may strain Corpay's ability to fund operations and strategic initiatives, affecting long-term sustainability.

Float Revenue Compression

Float revenue compression due to lower interest rates could reduce profitability in the Corporate Payments segment, impacting earnings.

Corpay Inc Business Overview & Revenue Model

Company Description

Corpay, Inc. operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards. It also provides corporate payment solutions consisting of accounts payable automation; virtual cards, cross-border solutions; and purchasing and travel and entertainment card products, as well as lodging payments solutions for employees who travel overnight for work purposes; traveling crews and stranded passengers from airlines and cruise lines; and insurance policyholders displaced from their homes due to damage or catastrophe. In addition, 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 March 2024. Corpay, Inc. was founded in 1986 and is headquartered in Atlanta, Georgia.

How the Company Makes Money

Corpay generates revenue through a variety of channels, primarily by charging fees for its payment processing services, which include transaction fees for processing payments and subscription fees for its software solutions. Key revenue streams include fees from accounts payable automation, foreign exchange transactions, and cross-border payment solutions. The company may also benefit from partnerships with financial institutions and other service providers, which can enhance its service offerings and expand its customer base. Additionally, Corpay's focus on providing value-added services helps to drive customer retention and loyalty, further contributing to its earnings.

Corpay Inc Financial Statement Overview

Summary

Strong and consistent profitability with high margins and generally solid cash conversion, but elevated leverage (debt well above equity) is a key risk and recent cash flow/margin softness adds some caution.

Income Statement

CPAY shows strong, consistent profitability with very high gross and operating margins across 2020–2025, supporting durable earnings power. Revenue has grown steadily over the period (with a dip in 2020), including ~5% growth in 2025, but the growth profile is moderate versus the margin profile. Profitability remains solid (net margin in the mid-20s recently), though margins have softened somewhat in 2025 versus 2023–2024, suggesting incremental pressure on operating leverage.

Balance Sheet

The balance sheet is the key constraint: leverage is elevated, with debt running well above equity (debt-to-equity consistently around ~2–3x) and total debt increasing materially by 2025. Equity returns are strong (ROE has been consistently high), but that strength is partly amplified by leverage, which raises financial risk and reduces flexibility if growth or cash generation slows.

Cash Flow

Cash generation is generally healthy, with free cash flow consistently tracking well to net income (roughly ~0.8–0.95x), indicating good earnings quality. However, operating cash flow and free cash flow have been somewhat volatile: free cash flow declined in 2021–2022 and again in 2024 before rebounding in 2025, and operating cash flow in 2025 is lower than in 2023–2024. Overall, cash conversion is solid, but the year-to-year swings temper the score.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.53B	3.97B	3.76B	3.43B	2.83B
Gross Profit	3.17B	3.11B	2.94B	2.66B	2.27B
EBITDA	2.34B	2.12B	2.01B	1.76B	1.51B
Net Income	1.07B	1.00B	981.89M	954.33M	839.50M
Balance Sheet
Total Assets	26.42B	17.96B	15.48B	14.09B	13.40B
Cash, Cash Equivalents and Short-Term Investments	2.50B	1.55B	1.39B	1.44B	1.52B
Total Debt	10.00B	8.00B	6.72B	7.04B	5.98B
Total Liabilities	22.19B	14.81B	12.19B	11.55B	10.54B
Stockholders Equity	3.88B	3.12B	3.28B	2.54B	2.87B
Cash Flow
Free Cash Flow	1.30B	1.77B	1.95B	603.37M	1.09B
Operating Cash Flow	1.50B	1.94B	2.10B	754.80M	1.20B
Investing Cash Flow	1.23B	-807.48M	-380.72M	-368.35M	-715.93M
Financing Cash Flow	1.56B	404.99M	-898.21M	-311.23M	343.93M

Corpay Inc Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 325.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CPAY, the sentiment is Neutral. The current price of 325.1 is below the 20-day moving average (MA) of 333.55, above the 50-day MA of 323.42, and above the 200-day MA of 313.78, indicating a neutral trend. The MACD of 3.58 indicates Positive momentum. The RSI at 47.25 is Neutral, neither overbought nor oversold. The STOCH value of 24.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CPAY.

Corpay Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CPAY	77 Outperform	$22.74B	21.62	30.54%	―	11.27%	4.47%
TOST	72 Outperform	$16.11B	50.04	18.64%	―	25.76%	―
PAYO	71 Outperform	$1.49B	22.18	10.24%	―	10.58%	-45.52%
EEFT	68 Neutral	$2.74B	10.00	24.39%	―	7.25%	-1.12%
WEX	66 Neutral	$5.12B	17.54	22.33%	―	-1.15%	-2.52%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FOUR	60 Neutral	$3.91B	41.62	15.52%	―	23.16%	27.38%

Corpay Inc Corporate Events

Corpay posts strong Q4 results and 2026 growth outlook

On February 4, 2026, Corpay reported strong fourth-quarter and full-year 2025 results, with fourth-quarter revenue up 21% to $1.25 billion, organic revenue growth of 11%, and adjusted earnings per share rising 13% to $6.04, while full-year revenue increased 14% to $4.5 billion and adjusted EPS climbed 12% to $21.38. Management highlighted robust performance in corporate payments, continued double-digit organic growth in its largest segments, significant capital deployment including over $4.3 billion for acquisitions and $782 million in share buybacks, and announced a definitive agreement to sell its PayByPhone mobile parking payments business to Lightyear Capital, all while issuing 2026 guidance that targets mid-teens revenue growth and more than 20% adjusted EPS growth, signaling an accelerated strategic shift toward higher-margin corporate payments and ongoing shareholder returns.

The most recent analyst rating on (CPAY) stock is a Buy with a $350.00 price target. To see the full list of analyst forecasts on Corpay Inc stock, see the CPAY Stock Forecast page.

Corpay Adds Global Mobility Executive David Bunch to Board

On January 22, 2026, Corpay appointed London-based executive David Bunch to its board of directors, adding a seasoned international operator with deep experience in large-scale mobility, convenience, and digital platform businesses. Bunch, who currently serves as Group Executive Vice President for Mobility & Convenience at Shell and has held senior roles across North America, Asia, and Europe, joins Corpay as an independent director and will receive the company’s customary non-employee director compensation and standard indemnification, bolstering Corpay’s governance and global expansion ambitions in corporate payments.

The most recent analyst rating on (CPAY) stock is a Buy with a $369.00 price target. To see the full list of analyst forecasts on Corpay Inc stock, see the CPAY Stock Forecast page.