Corpay, Inc. (CPAY) Financial Ratios
13 years of historical data (2013–2025) · Technology · Software - Infrastructure
EV/EBITDA
↓
10.10
↓-21% vs avg
5yr avg: 12.72
30Y Low9.6·High23.9
P/FCF
↓
17.37
+6% vs avg
5yr avg: 16.35
30Y Low10.8·High29.5
P/B Ratio
↓
5.80
-7% vs avg
5yr avg: 6.26
30Y Low4.4·High8.0
ROE
↑
29.0%
-7% vs avg
5yr avg: 31.2%
30Y Low13%·High35%
Debt/EBITDA
↑
4.31
+12% vs avg
5yr avg: 3.86
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 23.0x earnings, 12% above its 5-year average of 20.6x, sitting at the 38th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 21%. On a free-cash-flow basis, the stock trades at 17.4x P/FCF, 6% above the 5-year average of 16.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22.6B | $21.4B | $24.3B | $21.0B | $14.1B | $18.8B | $23.7B | $25.9B | $17.1B | $18.0B | $13.5B |
| Enterprise Value | $23.7B | $22.5B | $30.8B | $26.4B | $19.7B | $23.3B | $27.0B | $29.7B | $20.9B | $21.6B | $16.9B |
| P/E Ratio → | 22.97 | 20.02 | 24.22 | 21.41 | 14.79 | 22.41 | 33.60 | 28.95 | 21.08 | 24.33 | 29.79 |
| P/S Ratio | 4.98 | 4.72 | 6.12 | 5.59 | 4.12 | 6.64 | 9.90 | 9.78 | 7.03 | 8.01 | 7.36 |
| P/B Ratio | 5.80 | 5.06 | 7.73 | 6.40 | 5.56 | 6.56 | 7.05 | 6.98 | 5.12 | 4.90 | 4.37 |
| P/FCF | 17.37 | 16.46 | 13.77 | 10.80 | 23.40 | 17.33 | 16.97 | 23.84 | 20.82 | 29.53 | 20.76 |
| P/OCF | 15.05 | 14.26 | 12.53 | 10.01 | 18.70 | 15.72 | 16.07 | 22.30 | 18.94 | 26.48 | 19.03 |
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 10.1x EBITDA, 21% below its 5-year average of 12.7x. The Technology sector median is 16.7x, placing the stock at a 39% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.97 | 7.74 | 7.01 | 5.75 | 8.21 | 11.31 | 11.20 | 8.59 | 9.61 | 9.20 |
| EV / EBITDA | 10.10 | 9.60 | 14.38 | 13.22 | 11.15 | 15.24 | 22.03 | 19.71 | 15.31 | 18.82 | 17.70 |
| EV / EBIT | 12.14 | 11.57 | 17.40 | 15.75 | 13.69 | 19.04 | 26.70 | 24.17 | 16.94 | 21.60 | 23.58 |
| EV / FCF | — | 17.33 | 17.42 | 13.53 | 32.68 | 21.44 | 19.39 | 27.31 | 25.43 | 35.44 | 25.97 |
CPAY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Corpay, Inc. earns an operating margin of 43.1%. ROE of 29.0% indicates solid capital efficiency. ROIC of 19.6% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.9% | 69.9% | 78.1% | 78.2% | 77.7% | 80.2% | 75.0% | 80.0% | 80.0% | 80.9% | 80.6% |
| Operating Margin | 43.1% | 43.1% | 45.0% | 44.1% | 42.2% | 43.8% | 40.7% | 46.5% | 44.8% | 39.3% | 41.2% |
| Net Profit Margin | 23.6% | 23.6% | 25.3% | 26.1% | 27.8% | 29.6% | 29.5% | 33.8% | 33.3% | 32.9% | 24.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.0% | 29.0% | 31.2% | 33.7% | 35.3% | 27.0% | 19.9% | 25.4% | 23.1% | 21.9% | 15.3% |
| ROA | 4.8% | 4.8% | 6.0% | 6.6% | 6.9% | 6.8% | 6.0% | 7.6% | 7.2% | 7.1% | 5.2% |
| ROIC | 19.6% | 19.6% | 14.7% | 14.8% | 14.0% | 13.3% | 10.3% | 12.6% | 11.4% | 9.6% | 9.6% |
| ROCE | 18.3% | 18.3% | 20.0% | 19.8% | 17.9% | 16.2% | 13.0% | 17.0% | 15.7% | 13.0% | 12.6% |
CPAY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Corpay, Inc. carries a Debt/EBITDA ratio of 4.3x, which is highly leveraged (47% above the sector average of 2.9x). Net debt stands at $1.1B ($10.1B total debt minus $9.0B cash). Interest coverage of 4.8x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.39 | 2.39 | 2.54 | 2.05 | 2.77 | 2.09 | 1.28 | 1.36 | 1.44 | 1.23 | 1.25 |
| Debt / EBITDA | 4.31 | 4.31 | 3.74 | 3.37 | 3.98 | 3.92 | 3.51 | 3.35 | 3.53 | 3.93 | 4.05 |
| Net Debt / Equity | — | 0.27 | 2.05 | 1.62 | 2.20 | 1.56 | 1.00 | 1.01 | 1.13 | 0.98 | 1.10 |
| Net Debt / EBITDA | 0.48 | 0.48 | 3.01 | 2.68 | 3.17 | 2.92 | 2.75 | 2.50 | 2.77 | 3.14 | 3.55 |
| Debt / FCF | — | 0.87 | 3.65 | 2.74 | 9.28 | 4.11 | 2.42 | 3.46 | 4.61 | 5.91 | 5.21 |
| Interest Coverage | 4.82 | 4.82 | 4.62 | 4.80 | 8.75 | 10.75 | 7.80 | 8.18 | 8.91 | 9.34 | 9.94 |
CPAY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.98x is below 1.0, meaning current liabilities exceed current assets — though the company's $9.0B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 1.04x to 0.98x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 1.00 | 1.04 | 1.01 | 1.04 | 1.00 | 1.03 | 0.86 | 0.87 | 0.77 |
| Quick Ratio | 0.98 | 0.98 | 1.00 | 1.04 | 1.01 | 1.04 | 1.00 | 1.03 | 0.86 | 0.87 | 0.77 |
| Cash Ratio | 0.63 | 0.63 | 0.18 | 0.20 | 0.24 | 0.29 | 0.24 | 0.28 | 0.23 | 0.22 | 0.14 |
| Asset Turnover | — | 0.17 | 0.22 | 0.24 | 0.24 | 0.21 | 0.21 | 0.22 | 0.22 | 0.20 | 0.19 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 321.92 | 191.98 | 209.96 | 219.90 | 230.98 | 208.83 | 216.20 | 213.86 | 230.40 | 239.54 |
CPAY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Corpay, Inc. returns 3.5% to shareholders annually primarily through share buybacks. The earnings yield of 4.4% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.4% | 5.0% | 4.1% | 4.7% | 6.8% | 4.5% | 3.0% | 3.5% | 4.7% | 4.1% | 3.4% |
| FCF Yield | 5.8% | 6.1% | 7.3% | 9.3% | 4.3% | 5.8% | 5.9% | 4.2% | 4.8% | 3.4% | 4.8% |
| Buyback Yield | 3.5% | 3.7% | 5.3% | 3.3% | 10.0% | 7.2% | 3.6% | 2.7% | 5.6% | 2.2% | 1.4% |
| Total Shareholder Yield | 3.5% | 3.7% | 5.3% | 3.3% | 10.0% | 7.2% | 3.6% | 2.7% | 5.6% | 2.2% | 1.4% |
| Shares Outstanding | — | $71M | $72M | $74M | $77M | $84M | $87M | $90M | $92M | $94M | $95M |
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 | $23B | 23.0 | 10.1 | 17.4 | 69.9% | 43.1% | 29.0% | 19.6% | 4.3 |
 WEX | $4B | 15.1 | 8.3 | 14.1 | 54.9% | 25.4% | 22.3% | 9.6% | 4.8 |
 FLYW | $2B | 144.1 | 41.8 | 19.1 | 61.4% | 1.8% | 1.6% | 2.1% | — |
 PAYO | $2B | 36.9 | 10.5 | 11.4 | 78.1% | 11.8% | 10.2% | 30.7% | 0.4 |
 CASS | $639M | 19.0 | 6.5 | 20.1 | 100.0% | 20.3% | 14.9% | — | 0.1 |
 V | $628B | 32.1 | 25.1 | 29.1 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
 MA | $434B | 29.6 | 21.5 | 25.6 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
 AXP | $232B | 22.0 | 15.5 | 14.5 | 83.2% | 17.1% | 34.0% | 12.0% | 3.7 |
 FIS | $20B | 50.9 | 6.4 | 7.0 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 FISV | $26B | 7.5 | 6.1 | 5.9 | 59.4% | 26.9% | 13.0% | 8.1% | 3.3 |
 GPN | $16B | 11.5 | 10.1 | 7.8 | 72.6% | 19.1% | 6.0% | 3.0% | 7.6 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
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CPAY — 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 23.0x. The historical average is 26.7x. This places it at the 38th percentile of its historical range.
What is Corpay, Inc.'s EV/EBITDA?
Corpay, Inc.'s current EV/EBITDA is 10.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.1x.
What is Corpay, Inc.'s ROE?
Corpay, Inc.'s return on equity (ROE) is 29.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 24.4%.
Is CPAY stock overvalued?
Based on historical data, Corpay, Inc. is trading at a P/E of 23.0x. This is at the 38th 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 69.9% gross margin and 43.1% 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 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.