Corpay, Inc. (CPAY) Financial Ratios
12 years of historical data (2013–2024) · Technology · Software - Infrastructure
EV/EBITDA
↓
12.98
↓-15% vs avg
5yr avg: 15.20
30Y Low11.1·High23.9
P/FCF
↓
12.07
↓-27% vs avg
5yr avg: 16.45
30Y Low10.8·High29.5
P/B Ratio
↑
6.94
+4% vs avg
5yr avg: 6.66
30Y Low4.4·High8.0
ROE
↑
31.2%
↓+6% vs avg
5yr avg: 29.4%
30Y Low13%·High35%
Debt/EBITDA
↑
3.74
+1% vs avg
5yr avg: 3.70
30Y Low3.1·High5.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CPAY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Corpay, Inc. trades at 21.7x earnings, 7% below its 5-year average of 23.3x, sitting at the 25th percentile of its historical range. Compared to the Technology sector median P/E of 26.7x, the stock trades at a discount of 19%. On a free-cash-flow basis, the stock trades at 12.1x P/FCF, 27% 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 | $21.3B | $24.3B | $21.0B | $14.1B | $18.8B | $23.7B | $25.9B | $17.1B | $18.0B | $13.5B | $13.5B |
| Enterprise Value | $27.8B | $30.8B | $26.4B | $19.7B | $23.3B | $27.0B | $29.7B | $20.9B | $21.6B | $16.9B | $15.9B |
| P/E Ratio → | 21.74 | 24.22 | 21.41 | 14.79 | 22.41 | 33.60 | 28.95 | 21.08 | 24.33 | 29.79 | 37.12 |
| P/S Ratio | 5.36 | 6.12 | 5.59 | 4.12 | 6.64 | 9.90 | 9.78 | 7.03 | 8.01 | 7.36 | 7.90 |
| P/B Ratio | 6.94 | 7.73 | 6.40 | 5.56 | 6.56 | 7.05 | 6.98 | 5.12 | 4.90 | 4.37 | 4.75 |
| P/FCF | 12.07 | 13.77 | 10.80 | 23.40 | 17.33 | 16.97 | 23.84 | 20.82 | 29.53 | 20.76 | 18.88 |
| P/OCF | 10.98 | 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
CPAY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Corpay, Inc.'s enterprise value stands at 13.0x EBITDA, 15% below its 5-year average of 15.2x. The Technology sector median is 17.5x, placing the stock at a 26% 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 | 12.98 | 14.38 | 13.22 | 11.15 | 15.24 | 22.03 | 19.71 | 15.31 | 18.82 | 17.70 | 18.59 |
| EV / EBIT | 15.53 | 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 |
CPAY Profitability
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.
Margins
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% |
Return on Capital
| 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% |
CPAY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Corpay, Inc. carries a Debt/EBITDA ratio of 3.7x, which is moderately leveraged (29% above the sector average of 2.9x). 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 |
CPAY Liquidity & Efficiency
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 |
CPAY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Corpay, Inc. returns 6.0% to shareholders annually primarily through share buybacks. The earnings yield of 4.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 4.1% | 4.7% | 6.8% | 4.5% | 3.0% | 3.5% | 4.7% | 4.1% | 3.4% | 2.7% |
| FCF Yield | 8.3% | 7.3% | 9.3% | 4.3% | 5.8% | 5.9% | 4.2% | 4.8% | 3.4% | 4.8% | 5.3% |
| Buyback Yield | 6.0% | 5.3% | 3.3% | 10.0% | 7.2% | 3.6% | 2.7% | 5.6% | 2.2% | 1.4% | 0.0% |
| Total Shareholder Yield | 6.0% | 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 |
Peer Comparison
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 | $21B | 21.7 | 13.0 | 12.1 | 78.1% | 45.0% | 31.2% | 14.7% | 3.7 |
 WEX | $5B | 17.4 | 9.0 | 16.3 | 54.9% | 25.4% | 22.3% | 9.6% | 4.8 |
 FLYW | $2B | 132.1 | 37.6 | 17.5 | 61.4% | 1.8% | 1.6% | 2.1% | — |
 PAYO | $2B | 25.8 | 7.1 | 8.2 | 78.1% | 11.8% | 10.2% | 30.7% | 0.4 |
 CASS | $609M | 18.1 | 5.7 | 19.2 | 100.0% | 20.3% | 14.9% | — | 0.1 |
 V | $618B | 31.6 | 24.7 | 28.6 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
 MA | $440B | 30.1 | 21.8 | 26.0 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
 AXP | $217B | 20.5 | 14.6 | 13.5 | 83.2% | 17.1% | 34.0% | 12.0% | 3.7 |
 FIS | $24B | 62.1 | 7.6 | 9.8 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 FISV | $31B | 9.0 | 6.7 | 7.1 | 59.4% | 26.9% | 13.0% | 8.1% | 3.3 |
 GPN | $16B | 11.9 | 10.4 | 8.1 | 72.6% | 19.1% | 6.0% | 3.0% | 7.6 |
| Technology Median | — | 26.7 | 17.5 | 19.5 | 48.9% | -0.6% | 2.5% | 3.0% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 12 years · Updated daily
Full CPAY Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See CPAY's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs CPAY Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare CPAY vs WEX
Side-by-side business, growth, and profitability comparison vs WEX Inc..
Start ComparisonCPAY — Frequently Asked Questions
Quick answers to the most common questions about buying CPAY stock.
What is Corpay, Inc.'s P/E ratio?
Corpay, Inc.'s current P/E ratio is 21.7x. The historical average is 27.3x. This places it at the 25th percentile of its historical range.
What is Corpay, Inc.'s EV/EBITDA?
Corpay, Inc.'s current EV/EBITDA is 13.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.7x.
What is Corpay, Inc.'s ROE?
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%.
Is CPAY stock overvalued?
Based on historical data, Corpay, Inc. is trading at a P/E of 21.7x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Corpay, Inc.'s profit margins?
Corpay, Inc. has 78.1% gross margin and 45.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Corpay, Inc. have?
Corpay, Inc.'s Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.