CPAY
Corpay, Inc.
CPAY's fundamentals are strong: revenue grew 21% and it turned 25% of its revenue into free cash flow. At 25x earnings, it's trading above its usual 23x. Analysts expect that strong growth to continue.
CPAY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Stable |
CPAY's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
CPAY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $456 | — |
| Cheap | 19x | $352 | -23% |
| Fair | 23x | $413 | -9.5% |
| Current | 25x | $456 | — |
| Expensive | 28x | $518 | +14% |
Historical ranges are pointers, not guarantees.
CPAY's PE is in its expensive range at 25x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its cheap range.
CPAY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for CPAY, with profitability improving.
CPAY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $31.05 | +71% |
| Q3 2026 | $18.17 | +23% |
| Q2 2026 | $16.42 | +12% |
| Q1 2026 | $16.70 | +17% |
| Q4 2025 | $15.03 | +7.6% |
| Q3 2025 | $14.72 | +5% |
| Q2 2025 | $14.71 | +6.9% |
| Q1 2025 | $14.25 | +6% |
| Q4 2024 | $13.97 | +5.8% |
CPAY's earnings per share have climbed steadily: $18.17 over the past year, up 23% from the year before, and higher year over year for 22 quarters in a row.
CPAY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +18% |
| Q2 2026 | $1.3B | +21% |
| Q1 2026 | $1.3B | +25% |
| Q4 2025 | $1.2B | +21% |
| Q3 2025 | $1.2B | +14% |
| Q2 2025 | $1.1B | +13% |
| Q1 2025 | $1B | +7.5% |
| Q4 2024 | $1B | +10% |
CPAY's revenue has grown year over year for 22 quarters in a row: $1.4B last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 45% | +0.3 points |
| Q2 2026 | 35% | -8.2 points |
| Q1 2026 | 50% | +8 points |
| Q4 2025 | 45% | -2 points |
| Q3 2025 | 45% | -0.9 points |
| Q2 2025 | 44% | -0.9 points |
| Q1 2025 | 42% | 0 points |
| Q4 2024 | 47% | +2 points |
CPAY's operating margin was 45% last quarter, about level with the same quarter a year ago.
CPAY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$735M | -$305.2M |
| Q2 2026 | $1.4B | +30% |
| Q1 2026 | -$107.7M | +$11.2M |
| Q4 2025 | $760.3M | +26% |
| Q3 2025 | -$429.8M | -221% |
| Q2 2025 | $1.1B | +119% |
| Q1 2025 | -$118.9M | -138% |
| Q4 2024 | $604.6M | -11% |
CPAY usually generates cash, though not every quarter: the latest was −$735M, but it generated $1.3B over the past year.
CPAY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +60K shares |
| 1 year | -6.7% | -4.7M shares |
| 3 years | -11% | -8.2M shares |
| 5 years | -21% | -17.3M shares |
| Available history | -27% | -24M shares |
CPAY has 66M diluted shares, down 6.7% from a year ago, with $2.3B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $706.5M |
| Q2 2026 | $326.6M |
| Q1 2026 | $786M |
| Q4 2025 | $500.2M |
| Q3 2025 | $191.7M |
| Q2 2025 | $32.2M |
| Q1 2025 | $58.7M |
| Q4 2024 | $248.8M |
CPAY spent $2.3B buying back its own shares over the past year, about four times what it spent the year before.
CPAY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Moderate |
| Q2 2026 | 2.8x | Moderate |
| Q1 2026 | 3.0x | Moderate |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 2.7x | Moderate |
| Q2 2025 | 2.7x | Moderate |
| Q1 2025 | 3.0x | Elevated |
| Q4 2024 | 3.0x | Elevated |
CPAY's net debt is about 3.0 years of its operating earnings (EBITDA), up from 2.7 years a year ago.
CPAY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 72.0 | Overbought |
| Stochastic | 66.5 | Neutral |
CPAY's weekly RSI is 72 (overbought) and its Stochastic is 67 (neutral).
CPAY PE vs Technology Sector
| Metric | CPAY | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 28x | 9.9% below |
| PE % | 70 | 35 | 35 pts above |
CPAY is trading at 25x earnings, in line with the Technology sector's median of 28x.
CPAY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $413.9 | 10% above |
| 20 week MA | $399.7 | 14% above |
| 50 week MA | $354.3 | 29% above |
| 100 week MA | $339.4 | 34% above |
| 200 week MA | $304.8 | 50% above |
CPAY is in an uptrend: it's above all five of its weekly moving averages, and 50% above its 200-week average.
CPAY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $285.8 | $270.5 | -5.4% |
| 2021 | $270.5 | $223.7 | -17% |
| 2022 | $223.7 | $181.2 | -19% |
| 2023 | $181.2 | $282.6 | +56% |
| 2024 | $282.6 | $341.2 | +21% |
| 2025 | $341.2 | $310.2 | -9.1% |
| 2026 YTD | $310.2 | $456.0 | +47% |
CPAY is up 47% so far in 2026, after finishing lower in four of the previous six years.