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Corpay Inc
(NYSE:CPAY)
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Rating:77Outperform
Price Target:
$452.00
▲(21.97% Upside)
Action:Reiterated
Date:08/07/26
The score is driven primarily by strong earnings-call momentum and raised guidance alongside solid profitability and free-cash-flow generation. Offsetting this is balance-sheet risk from elevated leverage and modest cash-flow coverage of debt, while technicals remain constructive but show near-term overbought pressure and valuation support is only moderate (P/E 22.57, no dividend yield provided).
Positive Factors
Organic growth and customer retention
Double-digit organic growth, strong bookings and 93% retention indicate sustained customer demand and recurring relationships. This supports durable expansion across Corpay’s payment platforms and reduces reliance on isolated transactions or temporary volume increases.
Negative Factors
Elevated leverage and limited debt coverage
The debt-heavy capital structure reduces financial flexibility despite strong cash generation. Low operating-cash-flow coverage leaves Corpay more exposed to weaker growth, refinancing needs or higher financing costs and may constrain future acquisitions or investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Organic growth and customer retention
Double-digit organic growth, strong bookings and 93% retention indicate sustained customer demand and recurring relationships. This supports durable expansion across Corpay’s payment platforms and reduces reliance on isolated transactions or temporary volume increases.
Read all positive factors
Corpay Inc Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across the company’s business lines so investors can see which areas drive growth and which are lagging. Useful for spotting reliance on any single segment and for assessing where management is investing or cutting back.
Breaks down sales across the company’s business lines so investors can see which areas drive growth and which are lagging. Useful for spotting reliance on any single segment and for assessing where management is investing or cutting back.
Data provided by:
The Fly
The FlyCorpay Inc (CPAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$27.08B
Dividend YieldN/A
Average Volume (3M)640.09K
Price to Earnings (P/E)24.4
Beta (1Y)1.32
Revenue Growth20.36%
EPS Growth11.15%
CountryUS
Employees11,800
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)16.65
Shares Outstanding65,659,600
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
$456.20Price Target Upside23.10% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)27.36
Revenue Forecast (FY)$5.31B
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:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call presented strong operational momentum: a robust Q2 beat, record cash EPS, sustained double-digit organic growth, continued progress integrating acquisitions (Alpha and Avid), raised full-year guidance, strong margins, healthy cash generation and an active capital return program. The principal negatives were a one-time $100 million FTC settlement charge, a planned EPICS divestiture reducing revenue by ~$40 million, some float compression due to lower interest rates, modestly higher credit losses and seasonal variability in other revenue. Overall, the positive operational beats, guidance upgrade, margin expansion and clear strategic roadmap materially outweigh the limited set of disruptions and charges.Positive Updates
Record Quarterly Revenue and EPS Beat
Q2 revenue of $1.34 billion, up 21% year-over-year and $45 million above expectations. Reported cash EPS of $7.00, up 36% YoY and an all-time company record. Management attributed ~$30 million of the beat to favorable macro conditions and ~$15 million to underlying performance.
Negative Updates
FTC Settlement Charge
Recorded a $100 million settlement charge related to an FTC matter (subject to final commission approval), which impacts operating costs in the quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue and EPS Beat
Q2 revenue of $1.34 billion, up 21% year-over-year and $45 million above expectations. Reported cash EPS of $7.00, up 36% YoY and an all-time company record. Management attributed ~$30 million of the beat to favorable macro conditions and ~$15 million to underlying performance.
Read all positive updates
Company Guidance
Management raised 2026 revenue guidance to $5.31 billion at the midpoint (implying ~17% YoY growth) while continuing to assume roughly 10% organic revenue growth for the year (10% outlook for the second half), and they expect Corporate Payments to sustain mid‑teens+ organic growth and lodging to accelerate to mid‑single digits; full‑year adjusted cash EPS was raised to $27.35 at the midpoint (up from a $26 initial guide), implying ~28% YoY cash EPS growth and reflecting a $0.45 Q2 cash EPS beat plus a $0.20 raise for the rest of the year, with Q4 exit cash EPS above $29; full‑year cash EBITDA is targeted at roughly $3.0 billion and full‑year free cash flow about $1.8 billion (≈7% margin). The update flows through a $45 million Q2 revenue beat, adds $15 million for the rest of the year, and nets out an assumed ~$40 million revenue reduction (≈$10M/month) for the EPICS divestiture (assumed Sept. 1 close) with no EPS impact because proceeds will be used for share repurchases; Q3 guidance is $1.35 billion revenue at the midpoint (+16% YoY), organic growth of 9–11%, and adjusted EPS $7.15 at the midpoint (+26% YoY).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 | 10.62B | 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 | 1.64B | 1.30B | 1.77B | 1.95B | 603.37M | 1.09B |
| Operating Cash Flow | 1.85B | 1.50B | 1.94B | 2.10B | 754.80M | 1.20B |
| Investing Cash Flow | 1.77B | 1.23B | -807.48M | -380.72M | -368.35M | -715.93M |
| Financing Cash Flow | 1.06B | 1.56B | 404.99M | -898.21M | -311.23M | 343.93M |
Corpay Inc Technical Analysis
Positive
370.58
Price Trends
375.27
Positive
353.57
Positive
332.44
Positive
Market Momentum
10.57
Positive
57.11
Neutral
32.98
Neutral
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 404.19, below the 50-day MA of 375.27, and above the 200-day MA of 332.44, indicating a bullish trend. The MACD of 10.57 indicates Positive momentum. The RSI at 57.11 is Neutral, neither overbought nor oversold. The STOCH value of 32.98 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $21.38B | 44.54 | 23.79% | ― | 23.04% | 111.91% | |
77 Outperform | $27.08B | 24.44 | 30.40% | ― | 20.36% | 11.15% | |
74 Outperform | $2.41B | 50.42 | 7.27% | ― | 6.31% | -48.91% | |
66 Neutral | $2.66B | 9.73 | 23.02% | ― | 5.76% | -3.78% | |
65 Neutral | $3.79B | 72.87 | 5.65% | ― | 32.44% | -78.82% | |
63 Neutral | $6.81B | 19.53 | 28.22% | ― | 7.46% | 27.03% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
CPAY
Corpay Inc
406.93
81.76
25.14%
EEFT
Euronet Worldwide
70.55
-23.46
-24.95%
WEX
WEX
198.58
28.13
16.50%
FOUR
Shift4 Payments
46.25
-45.28
-49.47%
PAYO
Payoneer
7.12
0.24
3.49%
TOST
Toast Inc
36.97
-7.98
-17.75%
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...
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.