Comprehensive Stock Comparison
Compare CSG Systems International, Inc. (CSGS) vs Corpay, Inc. (CPAY) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CPAY | 5.8% revenue growth vs CSGS's 2.4% |
| Value | CPAY | Lower P/E (12.5x vs 15.8x), PEG 1.77 vs 4.50 |
| Quality / Margins | CPAY | 24.4% net margin vs CSGS's 7.2% |
| Stability / Safety | CSGS | Beta 0.61 vs CPAY's 1.46, lower leverage |
| Dividends | CSGS | 1.2% yield; CPAY pays no meaningful dividend |
| Momentum (1Y) | CSGS | +26.3% vs CPAY's -11.4% |
| Efficiency (ROA) | CSGS | 5.7% ROA vs CPAY's 5.3%, ROIC 14.3% vs 14.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
CSG Systems International provides revenue management and customer engagement software solutions primarily to communications companies worldwide. It generates revenue through SaaS subscriptions for its billing platforms (~70% of revenue), managed services for ongoing operations, and professional services for implementation and customization. The company's moat comes from its deep domain expertise in complex telecom billing systems—where switching costs are high due to mission-critical integrations—and its long-term relationships with major cable, satellite, and communications providers.
Corpay is a global payments company that helps businesses manage vehicle-related expenses, corporate payments, and lodging costs. It generates revenue primarily through transaction fees from its vehicle payment solutions — fuel, tolls, and fleet maintenance — and corporate payment automation services, with its cross-border and virtual card products forming significant segments. The company's competitive advantage lies in its specialized vertical expertise in complex business payments and its established network of merchants and fuel providers across multiple countries.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CPAY leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). CSGS leads in 2 (Profitability & Efficiency, Risk & Volatility).
Financial Metrics (TTM)
CPAY is the larger business by revenue, generating $4.3B annually — 3.5x CSGS's $1.2B. CPAY is the more profitable business, keeping 24.4% of every revenue dollar as net income compared to CSGS's 7.2%. On growth, CPAY holds the edge at +13.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CSGSCSG Systems Inter… | CPAYCorpay, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $1.2B | $4.3B |
| EBITDAEarnings before interest/tax | $176M | $2.3B |
| Net IncomeAfter-tax profit | $88M | $1.1B |
| Free Cash FlowCash after capex | $145M | $1.1B |
| Gross MarginGross profit ÷ Revenue | +48.7% | +76.1% |
| Operating MarginEBIT ÷ Revenue | +9.7% | +44.5% |
| Net MarginNet income ÷ Revenue | +7.2% | +24.4% |
| FCF MarginFCF ÷ Revenue | +11.8% | +26.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +2.0% | +13.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -79.3% | +0.3% |
Valuation Metrics
At 23.3x trailing earnings, CPAY trades at a 12% valuation discount to CSGS's 26.4x P/E. Adjusting for growth (PEG ratio), CPAY offers better value at 3.30x vs CSGS's 7.51x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | CSGSCSG Systems Inter… | CPAYCorpay, Inc. |
|---|---|---|
| Market CapShares × price | $2.3B | $22.8B |
| Enterprise ValueMkt cap + debt − cash | $2.7B | $29.3B |
| Trailing P/EPrice ÷ TTM EPS | 26.37x | 23.27x |
| Forward P/EPrice ÷ next-FY EPS est. | 15.79x | 12.50x |
| PEG RatioP/E ÷ EPS growth rate | 7.51x | 3.30x |
| EV / EBITDAEnterprise value multiple | 13.34x | 13.68x |
| Price / SalesMarket cap ÷ Revenue | 1.93x | 5.74x |
| Price / BookPrice ÷ Book value/share | 8.11x | 7.42x |
| Price / FCFMarket cap ÷ FCF | 20.35x | 12.92x |
Profitability & Efficiency
CSGS delivers a 30.9% return on equity — every $100 of shareholder capital generates $31 in annual profit, vs $26 for CPAY. CSGS carries lower financial leverage with a 2.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to CPAY's 2.54x. On the Piotroski fundamental quality scale (0–9), CSGS scores 7/9 vs CPAY's 4/9, reflecting strong financial health.
| Metric | CSGSCSG Systems Inter… | CPAYCorpay, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +30.9% | +25.5% |
| ROA (TTM)Return on assets | +5.7% | +5.3% |
| ROICReturn on invested capital | +14.3% | +14.7% |
| ROCEReturn on capital employed | +14.9% | +20.0% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 4 |
| Debt / EquityFinancial leverage | 2.03x | 2.54x |
| Net DebtTotal debt minus cash | $413M | $6.4B |
| Cash & Equiv.Liquid assets | $162M | $1.6B |
| Total DebtShort + long-term debt | $575M | $8.0B |
| Interest CoverageEBIT ÷ Interest expense | 5.99x | 4.97x |
Total Returns (with DRIP)
A $10,000 investment in CSGS five years ago would be worth $18,428 today (with dividends reinvested), compared to $11,508 for CPAY. Over the past 12 months, CSGS leads with a +26.3% total return vs CPAY's -11.4%. The 3-year compound annual growth rate (CAGR) favors CPAY at 14.8% vs CSGS's 14.1% — a key indicator of consistent wealth creation.
| Metric | CSGSCSG Systems Inter… | CPAYCorpay, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +4.1% | +8.2% |
| 1-Year ReturnPast 12 months | +26.3% | -11.4% |
| 3-Year ReturnCumulative with dividends | +48.6% | +51.4% |
| 5-Year ReturnCumulative with dividends | +84.3% | +15.1% |
| 10-Year ReturnCumulative with dividends | +136.5% | +154.6% |
| CAGR (3Y)Annualised 3-year return | +14.1% | +14.8% |
Risk & Volatility
CSGS is the less volatile stock with a 0.61 beta — it tends to amplify market swings less than CPAY's 1.46 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CSGS currently trades 99.0% from its 52-week high vs CPAY's 86.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CSGSCSG Systems Inter… | CPAYCorpay, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.61x | 1.46x |
| 52-Week HighHighest price in past year | $80.67 | $375.61 |
| 52-Week LowLowest price in past year | $54.65 | $252.84 |
| % of 52W HighCurrent price vs 52-week peak | +99.0% | +86.6% |
| RSI (14)Momentum oscillator 0–100 | 59.2 | 50.9 |
| Avg Volume (50D)Average daily shares traded | 387K | 512K |
Analyst Outlook
Wall Street rates CSGS as "Buy" and CPAY as "Buy". Consensus price targets imply 11.4% upside for CPAY (target: $362) vs 1.0% for CSGS (target: $81). CSGS is the only dividend payer here at 1.16% yield — a key consideration for income-focused portfolios.
| Metric | CSGSCSG Systems Inter… | CPAYCorpay, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $80.70 | $362.29 |
| # AnalystsCovering analysts | 15 | 18 |
| Dividend YieldAnnual dividend ÷ price | +1.2% | — |
| Dividend StreakConsecutive years of raises | 0 | — |
| Dividend / ShareAnnual DPS | $0.93 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +2.9% | +5.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| CSG Systems Interna… (CSGS) | 100 | 176.18 | +76.2% |
| Corpay, Inc. (CPAY) | 100 | 114.44 | +14.4% |
CSG Systems Interna… (CSGS) returned +84% over 5 years vs Corpay, Inc. (CPAY)'s +15%. A $10,000 investment in CSGS 5 years ago would be worth $18,428 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CSG Systems Interna… (CSGS) | $753M | $1.2B | +59.1% |
| Corpay, Inc. (CPAY) | $1.7B | $4.0B | +133.4% |
CSG Systems International, Inc.'s revenue grew from $753M (2015) to $1.2B (2024) — a 5.3% CAGR. Corpay, Inc.'s revenue grew from $1.7B (2015) to $4.0B (2024) — a 9.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CSG Systems Interna… (CSGS) | 8.3% | 7.3% | -12.7% |
| Corpay, Inc. (CPAY) | 21.3% | 25.3% | +18.7% |
CSG Systems International, Inc.'s net margin went from 8% (2015) to 7% (2024). Corpay, Inc.'s net margin went from 21% (2015) to 25% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| CSG Systems Interna… (CSGS) | 23.4 | 16.9 | -27.8% |
| Corpay, Inc. (CPAY) | 24.3 | 24.2 | -0.4% |
CSG Systems International, Inc. has traded in a 16x–41x P/E range over 8 years; current trailing P/E is ~26x. Corpay, Inc. has traded in a 15x–34x P/E range over 8 years; current trailing P/E is ~23x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CSG Systems Interna… (CSGS) | 1.87 | 3.03 | +62.0% |
| Corpay, Inc. (CPAY) | 3.85 | 13.97 | +262.9% |
CSG Systems International, Inc.'s EPS grew from $1.87 (2015) to $3.03 (2024) — a 6% CAGR. Corpay, Inc.'s EPS grew from $3.85 (2015) to $13.97 (2024) — a 15% CAGR.
Chart 6Free Cash Flow — 5 Years
CSG Systems International, Inc. generated $113M FCF in 2024 (-0% vs 2021). Corpay, Inc. generated $2B FCF in 2024 (+63% vs 2021).
CSGS vs CPAY: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is CSGS or CPAY a better buy right now?
Corpay, Inc. (CPAY) offers the better valuation at 23.3x trailing P/E (12.5x forward), making it the more compelling value choice. Analysts rate CSG Systems International, Inc. (CSGS) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CSGS or CPAY?
On trailing P/E, Corpay, Inc. (CPAY) is the cheapest at 23.3x versus CSG Systems International, Inc. at 26.4x. On forward P/E, Corpay, Inc. is actually cheaper at 12.5x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Corpay, Inc. wins at 1.77x versus CSG Systems International, Inc.'s 4.50x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — CSGS or CPAY?
Over the past 5 years, CSG Systems International, Inc. (CSGS) delivered a total return of +84.3%, compared to +15.1% for Corpay, Inc. (CPAY). A $10,000 investment in CSGS five years ago would be worth approximately $18K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CPAY returned +154.6% versus CSGS's +136.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CSGS or CPAY?
By beta (market sensitivity over 5 years), CSG Systems International, Inc. (CSGS) is the lower-risk stock at 0.61β versus Corpay, Inc.'s 1.46β — meaning CPAY is approximately 141% more volatile than CSGS relative to the S&P 500. On balance sheet safety, CSG Systems International, Inc. (CSGS) carries a lower debt/equity ratio of 2% versus 3% for Corpay, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — CSGS or CPAY?
Corpay, Inc. (CPAY) is the more profitable company, earning 25.3% net margin versus 7.3% for CSG Systems International, Inc. — meaning it keeps 25.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CPAY leads at 45.0% versus 11.0% for CSGS. At the gross margin level — before operating expenses — CPAY leads at 78.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CSGS or CPAY more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Corpay, Inc. (CPAY) is the more undervalued stock at a PEG of 1.77x versus CSG Systems International, Inc.'s 4.50x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Corpay, Inc. (CPAY) trades at 12.5x forward P/E versus 15.8x for CSG Systems International, Inc. — 3.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CPAY: 11.4% to $362.29.
07Which pays a better dividend — CSGS or CPAY?
In this comparison, CSGS (1.2% yield) pays a dividend. CPAY does not pay a meaningful dividend and should not be held primarily for income.
08Is CSGS or CPAY better for a retirement portfolio?
For long-horizon retirement investors, CSG Systems International, Inc. (CSGS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.61), 1.2% yield, +136.5% 10Y return). Both have compounded well over 10 years (CSGS: +136.5%, CPAY: +154.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CSGS and CPAY?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. CSGS pays a dividend while CPAY does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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