Corpay, Inc. (CPAY) Balance Sheet
CPAY balance sheet, 2025
December 31, 2025 · U.S. dollars$26.41B assets = $22.18B liabilities + $4.23B equity
Both columns are drawn to the same scale: what CPAY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CPAY financial health
Descriptive bands, not a rating. Fiscal 2025.
CPAY balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $9.63B2016 | $26.41B2025 | +11.9%/yr | |
| Total liabilities | $6.54B2016 | $22.18B2025 | +14.5%/yr | |
| Shareholders’ equity | $3.08B2016 | $3.88B2025 | +2.6%/yr | |
| Cash & short-term investments | $475.0M2016 | $8.99B2025 | +38.6%/yr | |
| Total debt | $3.86B2016 | $10.12B2025 | +11.3%/yr | |
| Net cash (debt) | −$3.38B2016 | −$1.12B2025 | +$2.3B | |
| Working capital | −$768.6M2016 | −$344.6M2025 | +$424.0M | |
| Book value per share | $32.392016 | $54.662025 | +6.0%/yr | |
| Current ratio | 0.772016 | 0.982025 | +0.21 | |
| Debt / equity | 1.252016 | 2.602025 | +1.35 | |
| Shares outstanding | 95.2M2016 | 71.1M2025 | −3.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CPAY assets
CPAY liabilities and equity
CPAY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CPAY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $8.99B | $1.55B | $1.39B | $1.44B | $1.52B | $934.9M | $1.27B | $1.03B | $913.6M | $475.0M |
| Cash & equivalents | $8.99B | $1.55B | $1.39B | $1.44B | $1.52B | $934.9M | $1.27B | $1.03B | $913.6M | $475.0M |
| Short-term investments | — | — | $23.5M | $12.0M | — | — | — | — | — | — |
| Receivables | $3.99B | $2.09B | $2.16B | $2.06B | $1.79B | $1.37B | $1.57B | $1.43B | $1.42B | $1.20B |
| Inventory | $0 | $0 | $3.06B | $2.14B | $1.85B | $1.24B | $0 | $1 | $1 | $0 |
| Other current assets | $966.1M | $5.03B | $474.1M | $465.2M | $326.1M | $412.9M | $1.78B | $1.42B | $1.22B | $850.7M |
| Total current assets | $13.95B | $8.68B | $7.08B | $6.11B | $5.49B | $3.96B | $4.62B | $3.88B | $3.55B | $2.53B |
| Property, plant & equipment (net) | $572.0M | $377.7M | $343.2M | $294.7M | $236.3M | $202.5M | $199.8M | $186.2M | $180.1M | $142.5M |
| Goodwill & intangible assets | $10.80B | $8.40B | $7.73B | $7.33B | $7.41B | $6.84B | $7.17B | $6.95B | $7.44B | $6.85B |
| Long-term investments | $601.9M | $60.1M | $69.5M | $74.3M | $52.0M | $7.5M | $0 | $0 | $0 | $0 |
| Other non-current assets | $479.7M | $448.3M | $248.7M | $281.7M | $213.9M | $193.2M | $255.2M | $190.3M | $147.8M | $108.2M |
| Total assets | $26.41B | $17.96B | $15.48B | $14.09B | $13.40B | $11.19B | $12.25B | $11.20B | $11.32B | $9.63B |
| Liabilities | ||||||||||
| Accounts payable | $1.56B | $1.57B | $1.62B | $1.57B | $1.41B | $1.05B | $1.25B | $1.12B | $1.44B | $1.15B |
| Short-term debt | $3.37B | $2.77B | $2.13B | $2.31B | $1.52B | $1.21B | $1.75B | $2.07B | $1.62B | $1.34B |
| Deferred revenue | — | $3.27B | $2.40B | $1.51B | $1.79B | $1.18B | $1.01B | $926.7M | $732.2M | $530.8M |
| Total current liabilities | $14.30B | $8.71B | $6.83B | $6.04B | $5.29B | $3.97B | $4.46B | $4.50B | $4.10B | $3.30B |
| Long-term debt | $6.66B | $5.23B | $4.60B | $4.72B | $4.46B | $3.10B | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.23B | $877.1M | $772.0M | $781.5M | $787.7M | $773.3M | $4.07B | $3.37B | $3.55B | $3.25B |
| Total liabilities | $22.18B | $14.81B | $12.19B | $11.55B | $10.54B | $7.84B | $8.54B | $7.86B | $7.64B | $6.54B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $132,000 | $131,000 | $129,000 | $128,000 | $127,000 | $126,000 | $124,000 | $123,000 | $122,000 | $121,000 |
| Retained earnings (deficit) | $10.26B | $9.20B | $8.19B | $7.21B | $6.26B | $5.42B | $4.71B | $3.82B | $2.96B | $2.22B |
| Accumulated other comprehensive income | −$1.39B | −$1.71B | −$1.29B | −$1.51B | −$1.46B | −$1.36B | −$972.5M | −$913.9M | −$551.9M | −$666.4M |
| Minority interest | $344.8M | $23.6M | $0 | — | — | — | — | — | — | — |
| Total shareholders' equity | $3.88B | $3.12B | $3.28B | $2.54B | $2.87B | $3.36B | $3.71B | $3.34B | $3.68B | $3.08B |
| Key figures | ||||||||||
| Total debt | $10.12B | $8.00B | $6.72B | $7.04B | $5.98B | $4.30B | $5.04B | $4.82B | $4.52B | $3.86B |
| Net cash (debt) | −$1.12B | −$6.44B | −$5.33B | −$5.60B | −$4.46B | −$3.37B | −$3.77B | −$3.79B | −$3.61B | −$3.38B |
| Working capital | −$344.6M | −$32.0M | $258.5M | $62.7M | $197.7M | −$12.0M | $155.5M | −$619.2M | −$545.8M | −$768.6M |
| Tangible book value | −$6.92B | −$5.27B | −$4.45B | −$4.79B | −$4.55B | −$3.48B | −$3.46B | −$3.61B | −$3.76B | −$3.76B |
| Book value per share | $54.66 | $43.46 | $44.13 | $33.07 | $34.10 | $38.69 | $41.21 | $36.25 | $39.28 | $32.39 |
| Shares outstanding | 71.1M | 71.8M | 74.4M | 76.9M | 84.1M | 86.7M | 90.1M | 92.2M | 93.6M | 95.2M |
| Current ratio | 0.98 | 1.00 | 1.04 | 1.01 | 1.04 | 1.00 | 1.03 | 0.86 | 0.87 | 0.77 |
| Quick ratio | 0.91 | 0.42 | 0.52 | 0.58 | 0.63 | 0.58 | 0.64 | 0.55 | 0.57 | 0.51 |
| Debt / equity | 2.60 | 2.56 | 2.05 | 2.77 | 2.09 | 1.28 | 1.36 | 1.44 | 1.23 | 1.25 |
| Equity / assets | 14.7% | 17.4% | 21.2% | 18.0% | 21.4% | 30.0% | 30.3% | 29.8% | 32.5% | 32.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.16B | $8.82B | $8.99B | $2.01B | $2.19B | $1.55B | $1.55B | $1.30B | $1.36B | $1.31B | $1.39B | $1.09B |
| Cash & equivalents | $3.16B | $8.82B | $8.99B | $2.01B | $2.19B | $1.55B | $1.55B | $1.30B | $1.36B | $1.31B | $1.39B | $1.09B |
| Short-term investments | — | — | — | — | — | — | — | — | — | $34.3M | $23.5M | $45.5M |
| Receivables | $4.96B | $4.77B | $3.99B | $4.41B | $4.24B | $4.02B | $2.09B | $2.64B | $2.41B | $2.38B | $2.16B | $2.66B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | −$34.3M | $3.06B | $2.62B |
| Other current assets | $8.36B | $1.05B | $966.1M | $3.69B | $4.33B | $3.51B | $5.03B | $4.84B | $4.21B | $3.78B | $474.1M | $493.5M |
| Total current assets | $16.48B | $14.64B | $13.95B | $10.11B | $10.76B | $9.08B | $8.68B | $8.78B | $7.98B | $7.44B | $7.08B | $6.86B |
| Property, plant & equipment (net) | $472.3M | $468.5M | $572.0M | $453.1M | $434.3M | $401.5M | $377.7M | $378.4M | $357.8M | $351.8M | $343.2M | $330.0M |
| Goodwill & intangible assets | $10.07B | $10.40B | $10.80B | $8.65B | $8.71B | $8.60B | $8.40B | $8.08B | $7.50B | $7.71B | $7.73B | $7.72B |
| Long-term investments | $576.2M | $586.7M | $601.9M | $58.7M | $58.3M | $62.7M | $60.1M | $64.6M | $64.0M | $68.3M | $69.5M | $68.0M |
| Other non-current assets | $622.0M | $573.9M | $479.7M | $476.8M | $477.0M | $406.8M | $448.3M | $334.0M | $296.2M | $265.8M | $248.7M | $287.7M |
| Total assets | $28.22B | $26.66B | $26.41B | $19.74B | $20.44B | $18.55B | $17.96B | $17.64B | $16.20B | $15.83B | $15.48B | $15.26B |
| Liabilities | ||||||||||||
| Accounts payable | $2.28B | $2.10B | $1.56B | $1.97B | $1.97B | $1.81B | $1.57B | $1.83B | $1.90B | $1.85B | $1.62B | $1.90B |
| Short-term debt | $4.53B | $3.75B | $3.37B | $2.30B | $2.25B | $2.25B | $2.77B | $2.49B | $2.52B | $1.90B | $2.13B | $2.35B |
| Deferred revenue | $8.92B | $7.85B | $8.13B | $3.50B | $4.14B | $3.23B | $3.27B | $3.20B | $2.76B | $2.53B | $2.40B | $1.78B |
| Total current liabilities | $16.96B | $14.99B | $14.30B | $8.91B | $9.64B | $8.24B | $8.71B | $8.35B | $7.84B | $6.95B | $6.83B | $6.74B |
| Long-term debt | $6.10B | $6.61B | $6.66B | $5.82B | $5.87B | $5.92B | $5.23B | $5.27B | $4.82B | $4.86B | $4.60B | $4.64B |
| Other long-term liabilities | $1.26B | $1.21B | $1.23B | $891.8M | $959.2M | $900.5M | $877.1M | $903.0M | $760.8M | $734.3M | $772.0M | $829.6M |
| Total liabilities | $24.64B | $22.80B | $22.18B | $15.63B | $16.47B | $15.05B | $14.81B | $14.52B | $13.42B | $12.55B | $12.19B | $12.21B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $133,000 | $132,000 | $132,000 | $132,000 | $132,000 | $132,000 | $131,000 | $130,000 | $130,000 | $130,000 | $129,000 | $129,000 |
| Retained earnings (deficit) | $10.86B | $10.61B | $10.26B | $10.00B | $9.72B | $9.44B | $9.20B | $8.95B | $8.67B | $8.42B | $8.19B | $7.94B |
| Accumulated other comprehensive income | −$1.36B | −$1.36B | −$1.39B | −$1.41B | −$1.44B | −$1.61B | −$1.71B | −$1.46B | −$1.50B | −$1.34B | −$1.29B | −$1.36B |
| Minority interest | $360.1M | $353.4M | $344.8M | $43.4M | $38.6M | — | — | — | — | — | — | — |
| Total shareholders' equity | $3.54B | $3.51B | $3.88B | $4.08B | $3.93B | $3.45B | $3.12B | $3.09B | $2.75B | $3.25B | $3.28B | $3.06B |
| Key figures | ||||||||||||
| Total debt | $10.62B | $10.36B | $10.12B | $8.12B | $8.12B | $8.17B | $8.00B | $7.76B | $7.33B | $6.76B | $6.72B | $6.98B |
| Net cash (debt) | −$7.46B | −$1.54B | −$1.12B | −$6.12B | −$5.92B | −$6.62B | −$6.44B | −$6.46B | −$5.98B | −$5.45B | −$5.33B | −$5.89B |
| Working capital | −$475.1M | −$352.2M | −$344.6M | $1.20B | $1.12B | $840.9M | −$32.0M | $431.3M | $133.2M | $486.4M | $258.5M | $122.0M |
| Tangible book value | −$6.53B | −$6.89B | −$6.92B | −$4.57B | −$4.78B | −$5.15B | −$5.27B | −$4.99B | −$4.75B | −$4.45B | −$4.45B | −$4.66B |
| Book value per share | $53.40 | $51.29 | $55.39 | $57.30 | $55.00 | $48.27 | $43.69 | $43.54 | $38.47 | $44.25 | $44.67 | $41.01 |
| Shares outstanding | 66.3M | 68.4M | 70.1M | 71.1M | 71.4M | 71.6M | 71.5M | 70.9M | 71.5M | 73.5M | 73.5M | 74.6M |
| Current ratio | 0.97 | 0.98 | 0.98 | 1.13 | 1.12 | 1.10 | 1.00 | 1.05 | 1.02 | 1.07 | 1.04 | 1.02 |
| Quick ratio | 0.48 | 0.91 | 0.91 | 0.72 | 0.67 | 0.68 | 0.42 | 0.47 | 0.48 | 0.53 | 0.52 | 0.56 |
| Debt / equity | 3.00 | 2.95 | 2.60 | 1.99 | 2.07 | 2.37 | 2.56 | 2.51 | 2.67 | 2.08 | 2.05 | 2.28 |
| Equity / assets | 12.5% | 13.2% | 14.7% | 20.6% | 19.2% | 18.6% | 17.4% | 17.5% | 17.0% | 20.6% | 21.2% | 20.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
CPAY financial position
At the end of fiscal 2025 (December 31, 2025), Corpay had total assets of $26.4 billion (up 47.1% from a year earlier), total liabilities of $22.2 billion and shareholders' equity of $3.9 billion. It held $9.0 billion in cash and short-term investments against $10.1 billion of debt, net debt of $1.1 billion. Its current ratio was 0.98. In the latest quarter (ended June 30, 2026) total assets were $28.2 billion and equity $3.5 billion.
Related: CPAY income statement, CPAY cash flow statement, CPAY key metrics. See the CPAY stock overview for the latest quote and news.
CPAY balance sheet FAQ
What are Corpay's total assets?
Corpay reported total assets of $26.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $18.0 billion a year earlier.
How much debt does Corpay have?
Corpay had $10.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 2.60.
How much cash does Corpay have?
Corpay held $9.0 billion in cash and short-term investments at the end of fiscal 2025; with $10.1 billion of debt that is net debt of $1.1 billion.
What is Corpay's book value?
Corpay's shareholders' equity (book value) was $3.9 billion at the end of fiscal 2025, or $54.66 per share.
What is Corpay's current ratio?
Corpay had current assets of $14.0 billion and current liabilities of $14.3 billion, a current ratio of 0.98 (current liabilities exceed current assets).
How much goodwill does Corpay have?
Corpay carried $10.8 billion of goodwill and intangible assets, 40.9% of total assets, at the end of fiscal 2025.