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Corpay, Inc.
NYSE: CPAY Technology IT 🔎 Screen
S&P 500
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 80 Ready View all →
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$29.2B
Market Cap
20.0
P/E
0.89
PEG
13.0%
ROCE
29.1%
ROE
2.01
D/E
44.0%
OPM
-2.7%
% from 52W High
75
α RS
🔍 CPAY is showing a high-conviction setup because it matches 10 of 37 tracked screener presets, RS Rating is 75, and it's within 2.7% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating 52W High
Sources
Conviction 10/37 · RS Rating 75 · 2.7% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for CPAY including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Corpay, Inc. operates as a payments company that helps businesses and consumers to manage and pay their expenses. It operates through Corporate Payments, Vehicle Payments, Lodging Payments, and Other segments.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding CPAY
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Manager Shares Value % of Fund Period
Tiger Global Management Tiger Global Management LLC 1.75M $509.9M 2.23% Mar 2026
Steve Cohen Point72 Asset Management 42.4K $12.3M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$1.34B
+21% YoY
Adjusted EBITDA
$767.2M
+24% YoY
Adjusted EBITDA Margin
57.3%
+1.0pp YoY
Net Income
$248.3M
-13% YoY
Adjusted EPS
$7.00
+36% YoY
What Went Right
  • Revenue beat expectations by $45M, with ~$15M from underlying performance and ~$30M from favorable macro.
  • Corporate Payments organic growth hit 16%, led by strong cross-border and payables; total organic growth 10% for the fifth consecutive quarter.
  • Adjusted EPS of $7.00 was an all-time record, up 36% YoY; Alpha and Avid together contributed $0.39 of accretion, on target.
  • Bookings/sales grew 30% YoY, retention held at 93%, and same-store sales were positive at +1%.
  • Balance sheet strengthened: leverage 2.55x, revolver increased to $3.7B, and $321M of shares repurchased.
What to Watch
  • Recorded a $100M FTC settlement charge in Q2, subject to final commission approval.
  • Brazil was described as a 'smidge slower' than normal, with the Google search partnership issue still unresolved.
  • Credit losses were modestly higher and management reiterated it will not loosen underwriting standards to chase growth.
  • Epyx divestiture expected to reduce full-year revenue by ~$40M, assuming a September 1 close.
  • Back-half margins are expected to be slightly below last year as Corpay continues to invest for growth.
  • Lodging still carries tough comparisons and only modest sequential improvement in Q2; gift business creates a tougher 'other' comp in H2.
Management Guidance
  • Q3 2026 revenue guided to ~$1.355B at midpoint, up 16% YoY; Q3 adjusted EPS guided to $7.15 at midpoint, up 26% YoY.
  • FY 2026 revenue guidance raised to $5.290B–$5.330B (midpoint $5.31B), up 17% YoY; adjusted EPS raised to $27.15–$27.55 (midpoint $27.35), up 28%.
  • FY 2026 GAAP net income guided to $1.285B–$1.325B; GAAP EPS $19.50–$19.90; adjusted net income $1.790B–$1.830B.
  • FY 2026 still assumes ~10% organic revenue growth and ~$1.8B of free cash flow; epyx EPS impact expected neutral due to share repurchases.
Investor Lens
The thesis is stronger after this call. Corpay delivered another quarter of double-digit organic growth, though part of the beat came from favorable macro, and raised full-year guidance while reaffirming its 10% organic growth algorithm. The mix shift toward Corporate Payments is working — 16% organic growth with 30% sales growth — and the two big deals (Alpha and Avid) are tracking to or above plan. Capital allocation also remains in the shareholder's favor: opportunistic buybacks, refinancing at lower cost, and the epyx divestiture being EPS-neutral. The main thing to watch is whether back-half margin moderation and the FTC settlement open any cracks, but the raised EPS guide suggests management has line of sight.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong quarter: revenue +21%, EPS $7.00 record; FY guidance raised.
Revenue
Revenue came in at $1.34B, up 21% YoY and $45M above expectations. Organic revenue growth was 10%, with Corporate Payments growing 16%, Vehicle Payments 8%, and lodging showing sequential improvement of 2% from Q1.
Profitability
GAAP net income fell 13% to $248.3M, reflecting the $100M FTC settlement charge in the quarter. Adjusted net income rose 27% to $464.4M, and adjusted EPS rose 36% to a record $7.00.
Margins
Adjusted EBITDA margin was 57.3%, up roughly 100 bps YoY, helped by operating leverage and macro flow-through. Operating costs rose 9% excluding FX, stock comp, amortization and the settlement charge, driven by sales investment and modestly higher credit losses.
Balance Sheet
Leverage finished at 2.55x with $1.6B of revolver capacity. The company repurchased $321M / 1 million shares in Q2 and completed a refinancing that increased the revolver to $3.7B while paying down $1B of Term Loan B.
Key Risks
Management flagged the $100M FTC settlement (subject to approval), modestly higher credit losses, and slower U.S. vehicle growth due to deliberate sales reallocation. Brazil was slightly slower and the Google search issue remains unresolved, though management expects Brazil to re-accelerate in H2.
Outlook
For Q3, Corpay guided revenue to ~$1.355B (+16%) and adjusted EPS to $7.15 (+26%). Full-year 2026 revenue guidance was raised to $5.29–$5.33B and adjusted EPS to $27.15–$27.55, still implying ~10% organic growth and 28% EPS growth.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Q2 revenue grew 21% to $1.34B, with Cash EPS up 36% to $7, both exceeding expectations. Full-year 2026 guidance was raised for revenue and EPS, driven by strong organic growth, robust segment performance, and favorable macro trends. Share repurchases and portfolio simplification continue.
Q1 2026 Q1 2026 2026-05-07
Q1 2026 saw 25% revenue and 29% EPS growth, with strong organic gains across all segments and raised full-year guidance. Portfolio rotation, share buybacks, and global expansion remain key priorities, supported by robust sales and retention trends.
Q4 2025 Q4 2025 2026-02-04
Q4 and full year 2025 delivered record revenue and EPS, driven by strong corporate payments and vehicle segments. 2026 guidance projects 16% revenue and 22% EPS growth, supported by acquisitions, robust sales, and favorable macro trends.
Q3 2025 Q3 2025 2025-11-05
Q3 2025 saw 14% revenue and EPS growth, with strong double-digit gains in vehicle and corporate payments. Guidance for Q4 and full year 2025 was raised, and 2026 is expected to deliver 9-11% organic growth, aided by acquisitions and margin expansion.
Q2 2025 Q2 2025 2025-08-06
Q2 2025 saw 13% revenue and EPS growth, with strong corporate and vehicle payments offsetting lodging softness. Full-year guidance was raised, M&A and divestitures are reshaping the portfolio, and retention hit a multi-year high.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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