12 years of historical data (2013–2024) · Technology · Software - Infrastructure
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Corpay, Inc. trades at 23.3x earnings, roughly in line with its 5-year average of 23.3x, sitting at the 33rd percentile of its historical range. Compared to the Technology sector median P/E of 25.2x, the stock trades at a discount of 8%. On a free-cash-flow basis, the stock trades at 12.9x P/FCF, 21% below the 5-year average of 16.5x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22.8B | $24.3B | $21.0B | $14.1B | $18.8B | $23.7B | $25.9B | $17.1B | $18.0B | $13.5B | $13.5B |
| Enterprise Value | $29.3B | $30.8B | $26.4B | $19.7B | $23.3B | $27.0B | $29.7B | $20.9B | $21.6B | $16.9B | $15.9B |
| P/E Ratio → | 23.27 | 24.22 | 21.41 | 14.79 | 22.41 | 33.60 | 28.95 | 21.08 | 24.33 | 29.79 | 37.12 |
| P/S Ratio | 5.74 | 6.12 | 5.59 | 4.12 | 6.64 | 9.90 | 9.78 | 7.03 | 8.01 | 7.36 | 7.90 |
| P/B Ratio | 7.42 | 7.73 | 6.40 | 5.56 | 6.56 | 7.05 | 6.98 | 5.12 | 4.90 | 4.37 | 4.75 |
| P/FCF | 12.92 | 13.77 | 10.80 | 23.40 | 17.33 | 16.97 | 23.84 | 20.82 | 29.53 | 20.76 | 18.88 |
| P/OCF | 11.76 | 12.53 | 10.01 | 18.70 | 15.72 | 16.07 | 22.30 | 18.94 | 26.48 | 19.03 | 17.83 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Corpay, Inc.'s enterprise value stands at 13.7x EBITDA, 10% below its 5-year average of 15.2x. The Technology sector median is 15.7x, placing the stock at a 13% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.74 | 7.01 | 5.75 | 8.21 | 11.31 | 11.20 | 8.59 | 9.61 | 9.20 | 9.36 |
| EV / EBITDA | 13.68 | 14.38 | 13.22 | 11.15 | 15.24 | 22.03 | 19.71 | 15.31 | 18.82 | 17.70 | 18.59 |
| EV / EBIT | 16.37 | 17.40 | 15.75 | 13.69 | 19.04 | 26.70 | 24.17 | 16.94 | 21.60 | 23.58 | 26.25 |
| EV / FCF | — | 17.42 | 13.53 | 32.68 | 21.44 | 19.39 | 27.31 | 25.43 | 35.44 | 25.97 | 22.37 |
Margins and return-on-capital ratios measuring operating efficiency
Corpay, Inc. earns an operating margin of 45.0%. Operating margins have expanded from 42.2% to 45.0% over the past 3 years, signaling improving operational efficiency. Return on equity of 31.2% is exceptionally high. ROIC of 14.7% represents solid returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.1% | 78.1% | 78.2% | 77.7% | 80.2% | 75.0% | 80.0% | 80.0% | 80.9% | 80.6% | 80.6% |
| Operating Margin | 45.0% | 45.0% | 44.1% | 42.2% | 43.8% | 40.7% | 46.5% | 44.8% | 39.3% | 41.2% | 39.2% |
| Net Profit Margin | 25.3% | 25.3% | 26.1% | 27.8% | 29.6% | 29.5% | 33.8% | 33.3% | 32.9% | 24.7% | 21.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 31.2% | 31.2% | 33.7% | 35.3% | 27.0% | 19.9% | 25.4% | 23.1% | 21.9% | 15.3% | 13.3% |
| ROA | 6.0% | 6.0% | 6.6% | 6.9% | 6.8% | 6.0% | 7.6% | 7.2% | 7.1% | 5.2% | 4.4% |
| ROIC | 14.7% | 14.7% | 14.8% | 14.0% | 13.3% | 10.3% | 12.6% | 11.4% | 9.6% | 9.6% | 9.1% |
| ROCE | 20.0% | 20.0% | 19.8% | 17.9% | 16.2% | 13.0% | 17.0% | 15.7% | 13.0% | 12.6% | 11.8% |
Solvency and debt-coverage ratios — lower is generally safer
Corpay, Inc. carries a Debt/EBITDA ratio of 3.7x, which is moderately leveraged (26% above the sector average of 3.0x). Net debt stands at $6.4B ($8.0B total debt minus $1.6B cash). Interest coverage of 4.7x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.54 | 2.54 | 2.05 | 2.77 | 2.09 | 1.28 | 1.36 | 1.44 | 1.23 | 1.25 | 1.04 |
| Debt / EBITDA | 3.74 | 3.74 | 3.37 | 3.98 | 3.92 | 3.51 | 3.35 | 3.53 | 3.93 | 4.05 | 3.42 |
| Net Debt / Equity | — | 2.05 | 1.62 | 2.20 | 1.56 | 1.00 | 1.01 | 1.13 | 0.98 | 1.10 | 0.88 |
| Net Debt / EBITDA | 3.01 | 3.01 | 2.68 | 3.17 | 2.92 | 2.75 | 2.50 | 2.77 | 3.14 | 3.55 | 2.90 |
| Debt / FCF | — | 3.65 | 2.74 | 9.28 | 4.11 | 2.42 | 3.46 | 4.61 | 5.91 | 5.21 | 3.49 |
| Interest Coverage | 4.67 | 4.67 | 4.75 | 8.79 | 10.93 | 7.49 | 8.21 | 7.88 | 8.25 | 10.49 | 9.36 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 1.00x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.6B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.00 | 1.00 | 1.04 | 1.01 | 1.04 | 1.00 | 1.03 | 0.86 | 0.87 | 0.77 | 0.87 |
| Quick Ratio | 1.00 | 1.00 | 1.04 | 1.01 | 1.04 | 1.00 | 1.03 | 0.86 | 0.87 | 0.77 | 0.87 |
| Cash Ratio | 0.18 | 0.18 | 0.20 | 0.24 | 0.29 | 0.24 | 0.28 | 0.23 | 0.22 | 0.14 | 0.20 |
| Asset Turnover | — | 0.22 | 0.24 | 0.24 | 0.21 | 0.21 | 0.22 | 0.22 | 0.20 | 0.19 | 0.22 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 191.98 | 209.96 | 219.90 | 230.98 | 208.83 | 216.20 | 213.86 | 230.40 | 239.54 | 136.96 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Corpay, Inc. returns 5.6% to shareholders annually primarily through share buybacks. The earnings yield of 4.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.3% | 4.1% | 4.7% | 6.8% | 4.5% | 3.0% | 3.5% | 4.7% | 4.1% | 3.4% | 2.7% |
| FCF Yield | 7.7% | 7.3% | 9.3% | 4.3% | 5.8% | 5.9% | 4.2% | 4.8% | 3.4% | 4.8% | 5.3% |
| Buyback Yield | 5.6% | 5.3% | 3.3% | 10.0% | 7.2% | 3.6% | 2.7% | 5.6% | 2.2% | 1.4% | 0.0% |
| Total Shareholder Yield | 5.6% | 5.3% | 3.3% | 10.0% | 7.2% | 3.6% | 2.7% | 5.6% | 2.2% | 1.4% | 0.0% |
| Shares Outstanding | — | $72M | $74M | $77M | $84M | $87M | $90M | $92M | $94M | $95M | $94M |
Compare CPAY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| CPAYYou | $23B | 23.3 | 13.7 | 12.9 | 78.1% | 45.0% | 31.2% | 14.7% | 3.7 |
| XYZ | $38B | 30.3 | 22.9 | 15.8 | 42.8% | 7.1% | 6.0% | 6.4% | 4.3 |
| AFRM | $15B | 313.2 | 158.0 | 25.4 | 67.5% | -2.7% | 1.8% | -0.7% | 57.0 |
| TOST | $14B | 48.8 | 34.9 | 23.5 | 25.8% | 5.0% | 18.6% | 30.8% | 0.1 |
| KSPI | $13B | 6.5 | 5.0 | 13.8 | 62.3% | 50.4% | 77.7% | 113.5% | 0.2 |
| WEX | $5B | 19.9 | 8.9 | 15.3 | 60.5% | 26.1% | 18.7% | 10.2% | 4.4 |
| KLAR | $5B | 2023.9 | 39.2 | 9.4 | 77.7% | -4.5% | 0.1% | -218.7% | 11.6 |
| BLSH | $5B | -5.2 | — | — | 0.0% | -0.0% | -26.8% | -2.3% | — |
| STNE | $4B | -17.3 | — | — | 27.9% | -30.9% | -13.1% | -7.2% | — |
| ACIW | $4B | 18.4 | 11.1 | 13.2 | 49.0% | 18.7% | 15.4% | 11.4% | 2.0 |
| RELY | $3B | 53.9 | 30.7 | 11.8 | — | 4.7% | 8.9% | 14.0% | 1.9 |
| Technology Median | — | 25.2 | 15.7 | 17.3 | 49.8% | -0.9% | 1.1% | 2.9% | 3.0 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 12 years · Updated daily
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Start ComparisonCorpay, Inc.'s current P/E ratio is 23.3x. The historical average is 27.3x. This places it at the 33th percentile of its historical range.
Corpay, Inc.'s current EV/EBITDA is 13.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.7x.
Corpay, Inc.'s return on equity (ROE) is 31.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 24.0%.
Based on historical data, Corpay, Inc. is trading at a P/E of 23.3x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Corpay, Inc. has 78.1% gross margin and 45.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Corpay, Inc.'s Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.