Stocktoria

CORPAY, INC. CPAY

NYSE · stock · Services-Business Services, NEC · website · IPO 2010-12-15 · LEI

CORPAY, INC. statistics & valuation

Market cap$21.7B
P / E20.3×
P / S4.8×
P / B5.5×
P / FCF16.7×
Net margin23.6%
Return on equity27.2%
FCF margin28.7%
Net debt$7.6B
Net debt / EBITDA3.2×
Enterprise value USD$29.3B
EV / EBITDA12.3×
Earnings yield EBIT/EV6.8%
Return on capital16.5%
Graham number -66.6%$136.70

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($136.70); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
24.70% 32.90% 33.30% 33.80% 29.50% 29.60% 27.80% 26.10% 25.30% 23.60% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
41.20% 39.30% 44.80% 46.50% 40.70% 43.80% 42.20% 44.10% 45.00% 44.00% 2016201720182019202020212022202320242025
Return on equity (%)
14.70% 20.10% 24.30% 24.10% 21.00% 29.30% 37.50% 29.90% 31.90% 27.20% 2016201720182019202020212022202320242025
Shares outstanding
95.2M 93.6M 92.2M 90.1M 86.7M 84.1M 76.9M 74.4M 71.8M 71.1M 2016201720182019202020212022202320242025
Net debt ($)
$4.46B $5.60B $5.33B $6.44B $7.59B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
4.70% 6.50% 7.20% 7.30% 6.30% 6.30% 6.80% 6.30% 5.60% 4.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
35.40% 27.10% 33.80% 41.00% 58.40% 38.30% 17.60% 51.80% 44.40% 28.70% 2016201720182019202020212022202320242025
Debt / equity (×)
2.09× 2.77× 2.05× 2.54× 2.55× 2016201720182019202020212022202320242025
EPS ($)
$4.75 $7.91 $8.81 $9.94 $8.12 $9.99 $12.42 $13.20 $13.97 $15.03 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

CORPAY, INC. trades at about 27.3× earnings — near its 10-year norm (10-year range 16.8×–31.7×, median 26.9×).

16.8× 31.7×

Shaded band = 10-year range (16.8×–31.7×); dot = today's 27.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin44.0%45.0%44.1%42.2%43.8%40.7%46.5%44.8%39.3%41.2%
Net margin23.6%25.3%26.1%27.8%29.6%29.5%33.8%33.3%32.9%24.7%
FCF margin28.7%44.4%51.8%17.6%38.3%58.4%41.0%33.8%27.1%35.4%
Return on assets4.1%5.6%6.3%6.8%6.3%6.3%7.3%7.2%6.5%4.7%
Return on equity27.2%31.9%29.9%37.5%29.3%21.0%24.1%24.3%20.1%14.7%
Debt / equity2.55×2.54×2.05×2.77×2.09×—————
Current ratio0.981.001.041.011.041.001.030.860.870.77

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.