Corpay, Inc. (CPAY) Income Statement
CPAY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCPAY revenue and net income
Where CPAY's revenue goes
2025Each bar shows an amount and its share of revenue. CPAY kept 23.6% of revenue as net income.
CPAY profit margins
CPAY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.9% | +9.7% | +13.6% | +10.3% |
| Gross profit | +1.9% | +5.9% | +12.0% | +8.7% |
| Operating income | +9.2% | +10.5% | +15.0% | +11.3% |
| Net income | +6.6% | +3.9% | +8.7% | +11.4% |
| EPS (diluted) | +10.9% | +9.4% | +13.7% | +12.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CPAY quarterly EPS vs estimates
Corpay beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 4, 2026 (estimate $6.74).
CPAY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.53B | $3.97B | $3.76B | $3.43B | $2.83B | $2.39B | $2.65B | $2.43B | $2.25B | $1.83B |
| Cost of revenue | $1.36B | $869.1M | $819.9M | $764.7M | $559.8M | $596.4M | $530.7M | $487.7M | $429.6M | $355.4M |
| Gross profit | $3.17B | $3.11B | $2.94B | $2.66B | $2.27B | $1.79B | $2.12B | $1.95B | $1.82B | $1.48B |
| Research & development | — | — | — | — | — | $40.2M | $37.2M | $24.2M | $21.8M | $17.7M |
| Sales, general & admin | $1.21B | $997.8M | $943.6M | $893.2M | $747.9M | $567.4M | $612.0M | $571.8M | $671.5M | $519.4M |
| Total operating expenses | $1.21B | $1.32B | $1.28B | $1.22B | $1.03B | $820.2M | $886.7M | $855.1M | $936.2M | $722.0M |
| Operating income | $1.95B | $1.79B | $1.66B | $1.45B | $1.24B | $972.3M | $1.23B | $1.09B | $883.8M | $754.2M |
| Interest expense | $403.8M | $383.0M | $348.6M | $164.7M | $113.7M | $129.8M | $150.0M | $138.5M | $107.1M | $71.9M |
| Income before taxes | $1.54B | $1.39B | $1.33B | $1.28B | $1.11B | $882.5M | $1.08B | $1.10B | $893.6M | $642.9M |
| Income taxes | $469.7M | $381.4M | $343.1M | $321.3M | $269.3M | $178.3M | $182.7M | $283.6M | $153.4M | $190.5M |
| Net income | $1.07B | $1.00B | $981.9M | $954.3M | $839.5M | $704.2M | $895.1M | $811.5M | $740.2M | $452.4M |
| EBITDA | $2.34B | $2.12B | $2.01B | $1.76B | $1.51B | $1.27B | $1.50B | $1.51B | $1.27B | $918.1M |
| EPS (diluted) | $21.09 | $19.01 | $16.92 | $16.10 | $13.21 | $11.09 | $11.79 | $10.53 | $8.55 | $6.91 |
| Gross margin | 69.9% | 78.1% | 78.2% | 77.7% | 80.2% | 75.0% | 80.0% | 80.0% | 80.9% | 80.6% |
| Operating margin | 43.1% | 45.0% | 44.1% | 42.2% | 43.8% | 40.7% | 46.5% | 44.8% | 39.3% | 41.2% |
| Net margin | 23.6% | 25.3% | 26.1% | 27.8% | 29.6% | 29.5% | 33.8% | 33.3% | 32.9% | 24.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.34B | $1.26B | $1.25B | $1.17B | $1.10B | $1.01B | $1.03B | $1.03B | $975.7M | $935.3M | $937.3M | $970.9M |
| Cost of revenue | $275.2M | $344.5M | $376.7M | $341.9M | $238.5M | $221.8M | $228.8M | $223.7M | $209.2M | $207.4M | $201.5M | $208.2M |
| Gross profit | $1.06B | $916.5M | $871.6M | $830.6M | $863.5M | $783.8M | $805.7M | $805.5M | $766.5M | $727.8M | $735.9M | $762.7M |
| Sales, general & admin | $374.3M | $352.0M | $358.5M | $296.2M | $292.8M | $264.5M | $255.7M | $247.8M | $248.8M | $245.4M | $227.7M | $233.8M |
| Total operating expenses | $592.5M | $373.4M | $360.5M | $307.4M | $384.1M | $356.7M | $317.3M | $337.4M | $333.2M | $330.5M | $311.8M | $317.7M |
| Operating income | $471.2M | $543.1M | $511.0M | $523.1M | $479.4M | $427.1M | $488.3M | $468.1M | $433.3M | $397.3M | $424.1M | $445.0M |
| Interest expense | $114.7M | $110.1M | $113.0M | $100.0M | $96.9M | $93.9M | $94.8M | $104.4M | $94.7M | $89.1M | $92.0M | $88.3M |
| Income before taxes | $344.7M | $505.0M | $399.4M | $421.7M | $393.1M | $327.5M | $387.3M | $358.3M | $334.2M | $305.3M | $333.5M | $370.1M |
| Income taxes | $92.9M | $151.3M | $133.8M | $143.3M | $109.0M | $83.6M | $141.3M | $82.0M | $82.5M | $75.5M | $77.6M | $98.6M |
| Net income | $248.3M | $350.1M | $264.5M | $277.9M | $284.2M | $243.2M | $246.0M | $276.4M | $251.6M | $229.8M | $255.9M | $271.5M |
| EBITDA | $577.7M | $729.9M | $629.0M | $614.9M | $581.3M | $513.6M | $574.6M | $552.3M | $513.2M | $479.1M | $509.5M | $543.1M |
| EPS (diluted) | $6.63 | $5.80 | $6.04 | $5.41 | $5.13 | $4.51 | $5.36 | $5.00 | $4.55 | $4.10 | $4.44 | $4.49 |
| Gross margin | 79.4% | 72.7% | 69.8% | 70.8% | 78.4% | 77.9% | 77.9% | 78.3% | 78.6% | 77.8% | 78.5% | 78.6% |
| Operating margin | 35.2% | 43.1% | 40.9% | 44.6% | 43.5% | 42.5% | 47.2% | 45.5% | 44.4% | 42.5% | 45.2% | 45.8% |
| Net margin | 18.5% | 27.8% | 21.2% | 23.7% | 25.8% | 24.2% | 23.8% | 26.9% | 25.8% | 24.6% | 27.3% | 28.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CPAY's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CPAY financial results
In fiscal year 2025 (ended December 31, 2025), Corpay reported revenue of $4.5 billion, up 13.9% from the year before. It had net income of $1.1 billion (up 6.6%), a net profit margin of 23.6%. Diluted earnings per share came to $21.09. Over five years revenue grew at an average rate of 13.6% a year.
See the CPAY stock overview for the latest quote and news, or the CPAY chart for price history and technical indicators.
CPAY income statement FAQ
What is Corpay's annual revenue?
Corpay reported total revenue of $4.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 13.9% from $4.0 billion the previous year.
Is Corpay profitable?
Yes. Corpay reported net income of $1.1 billion in fiscal 2025, a net profit margin of 23.6%; its operating margin was 43.1%.
What is Corpay's gross margin?
Corpay's gross margin was 69.9% in fiscal 2025: for every $100 of revenue, Corpay kept $70 after the direct cost of its products and services.
How fast is Corpay growing?
Revenue grew 13.6% a year on average over the last five fiscal years, from $2.4 billion to $4.5 billion.
What are Corpay's earnings per share?
Corpay earned $21.09 per diluted share in fiscal 2025, compared with $19.01 a year earlier.
When will Corpay report its next earnings?
Corpay is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Corpay's fiscal year end?
Corpay's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.