Corpay, Inc. (CPAY) Key Metrics
CPAY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $26.25B
- Enterprise value
- $33.26B
- P/E (TTM)
- 24.3 10-yr median 23.3
- Forward P/E
- 12.8
- PEG ratio
- 0.75
- Price / sales
- 5.2 10-yr median 6.8
- Price / book
- 7.3 10-yr median 6.0
- EV / EBITDA
- 13.0 10-yr median 15.0
- Dividend yield
- —
- Beta
- 0.89
CPAY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCPAY valuation Price multiples at each fiscal year-end price.
CPAY returns How much profit the business earns on the capital it uses.
CPAY per-share figures Results divided by the shares outstanding at year-end.
CPAY financial health Debt, liquidity and how easily interest is covered.
CPAY efficiency & capital use Working capital cycle and where the cash goes.
CPAY valuation history
CPAY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CPAY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CPAY cash returned to shareholders
CPAY price vs earnings per share
CPAY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $21.38B | $24.31B | $21.02B | $14.12B | $18.82B | $23.66B | $25.91B | $17.11B | $18.01B | $13.47B |
| Enterprise value | $22.51B | $30.76B | $26.36B | $19.72B | $23.27B | $27.03B | $29.68B | $20.90B | $21.62B | $16.86B |
| P/E ratio | 20.0 | 24.2 | 21.4 | 14.8 | 22.4 | 33.6 | 29.0 | 21.1 | 24.3 | 29.8 |
| Price / sales | 4.7 | 6.1 | 5.6 | 4.1 | 6.6 | 9.9 | 9.8 | 7.0 | 8.0 | 7.4 |
| Price / book | 5.5 | 7.8 | 6.4 | 5.6 | 6.6 | 7.1 | 7.0 | 5.1 | 4.9 | 4.4 |
| Price / free cash flow | 16.5 | 13.8 | 10.8 | 23.4 | 17.3 | 17.0 | 23.8 | 20.8 | 29.5 | 20.8 |
| Price / operating cash flow | 14.3 | 12.5 | 10.0 | 18.7 | 15.7 | 16.1 | 22.3 | 18.9 | 26.5 | 19.0 |
| EV / sales | 5.0 | 7.7 | 7.0 | 5.8 | 8.2 | 11.3 | 11.2 | 8.6 | 9.6 | 9.2 |
| EV / EBITDA | 9.6 | 14.5 | 13.1 | 11.2 | 15.4 | 21.3 | 19.8 | 13.9 | 17.1 | 18.4 |
| EV / free cash flow | 17.3 | 17.4 | 13.5 | 32.7 | 21.4 | 19.4 | 27.3 | 25.4 | 35.4 | 26.0 |
| Earnings yield | 5.0% | 4.1% | 4.7% | 6.8% | 4.5% | 3.0% | 3.5% | 4.7% | 4.1% | 3.4% |
| Free cash flow yield | 6.1% | 7.3% | 9.3% | 4.3% | 5.8% | 5.9% | 4.2% | 4.8% | 3.4% | 4.8% |
| Dividend yield | — | — | — | — | — | 0.0% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 3.7% | 5.3% | 3.3% | 10.0% | 7.2% | 3.6% | 2.7% | 5.6% | 2.2% | 1.4% |
| Share price at fiscal year-end | $300.93 | $338.42 | $282.61 | $183.68 | $223.84 | $272.83 | $287.72 | $185.72 | $192.43 | $141.52 |
| Per share | ||||||||||
| Revenue per share | $63.73 | $55.32 | $50.52 | $44.59 | $33.71 | $27.55 | $29.41 | $26.41 | $24.04 | $19.24 |
| Earnings per share | $15.06 | $13.97 | $13.20 | $12.42 | $9.99 | $8.12 | $9.94 | $8.81 | $7.91 | $4.75 |
| Operating cash flow per share | $21.11 | $27.01 | $28.25 | $9.82 | $14.24 | $16.98 | $12.90 | $9.80 | $7.27 | $7.44 |
| Free cash flow per share | $18.28 | $24.57 | $26.18 | $7.85 | $12.91 | $16.08 | $12.07 | $8.92 | $6.52 | $6.82 |
| Cash per share | $126.54 | $21.62 | $18.68 | $18.67 | $18.08 | $10.78 | $14.12 | $11.19 | $9.76 | $4.99 |
| Book value per share | $54.66 | $43.46 | $44.13 | $33.07 | $34.10 | $38.69 | $41.21 | $36.25 | $39.28 | $32.39 |
| Tangible book value per share | −$97.37 | −$73.39 | −$59.80 | −$62.33 | −$54.10 | −$40.13 | −$38.45 | −$39.17 | −$40.22 | −$39.54 |
| Dividends per share | — | — | — | — | — | $0.00 | — | — | — | — |
| Capex per share | $2.83 | $2.44 | $2.07 | $1.97 | $1.33 | $0.90 | $0.83 | $0.88 | $0.75 | $0.62 |
| Debt per share | $142.37 | $111.29 | $90.38 | $91.55 | $71.11 | $49.62 | $55.92 | $52.30 | $48.28 | $40.52 |
| Shares outstanding | 71.1M | 71.8M | 74.4M | 76.9M | 84.1M | 86.7M | 90.1M | 92.2M | 93.6M | 95.2M |
| Change in shares outstanding | −1.1% | −3.4% | −3.2% | −8.6% | −3.1% | −3.7% | −2.3% | −1.5% | −1.7% | +1.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 30.5% | 31.3% | 33.7% | 35.3% | 27.0% | 19.9% | 25.4% | 23.1% | 21.9% | 15.3% |
| Return on invested capital (ROIC) | 18.6% | 14.2% | 14.7% | 14.0% | 13.4% | 10.9% | 14.0% | 11.2% | 10.6% | 9.0% |
| Return on assets (ROA) | 4.8% | 6.0% | 6.6% | 6.9% | 6.8% | 6.0% | 7.6% | 7.2% | 7.1% | 5.2% |
| Return on tangible assets | 6.9% | 10.5% | 12.7% | 14.1% | 14.0% | 16.2% | 17.6% | 19.1% | 19.1% | 16.3% |
| Free cash flow margin | 28.7% | 44.4% | 51.8% | 17.6% | 38.3% | 58.4% | 41.0% | 33.8% | 27.1% | 35.4% |
| Income quality (OCF / net income) | 1.40 | 1.93 | 2.14 | 0.79 | 1.43 | 2.09 | 1.30 | 1.11 | 0.92 | 1.57 |
| Financial health | ||||||||||
| Total debt | $10.12B | $8.00B | $6.72B | $7.04B | $5.98B | $4.30B | $5.04B | $4.82B | $4.52B | $3.86B |
| Cash & short-term investments | $8.99B | $1.55B | $1.39B | $1.44B | $1.52B | $934.9M | $1.27B | $1.03B | $913.6M | $475.0M |
| Net debt | $1.12B | $6.44B | $5.33B | $5.60B | $4.46B | $3.37B | $3.77B | $3.79B | $3.61B | $3.38B |
| Debt / equity | 2.60 | 2.56 | 2.05 | 2.77 | 2.09 | 1.28 | 1.36 | 1.44 | 1.23 | 1.25 |
| Debt / assets | 0.38 | 0.45 | 0.43 | 0.50 | 0.45 | 0.38 | 0.41 | 0.43 | 0.40 | 0.40 |
| Net debt / EBITDA | 0.48 | 3.04 | 2.65 | 3.18 | 2.96 | 2.66 | 2.51 | 2.51 | 2.85 | 3.69 |
| Current ratio | 0.98 | 1.00 | 1.04 | 1.01 | 1.04 | 1.00 | 1.03 | 0.86 | 0.87 | 0.77 |
| Quick ratio | 0.98 | 1.00 | 0.59 | 0.66 | 0.69 | 0.68 | 1.03 | 0.86 | 0.87 | 0.77 |
| Interest coverage | 4.8 | 4.7 | 4.8 | 8.8 | 10.9 | 7.5 | 8.2 | 7.9 | 8.2 | 10.5 |
| Working capital | −$344.6M | −$32.0M | $258.5M | $62.7M | $197.7M | −$12.0M | $155.5M | −$619.2M | −$545.8M | −$768.6M |
| Invested capital | $5.01B | $9.56B | $8.62B | $8.14B | $7.32B | $6.72B | $7.48B | $7.13B | $7.28B | $6.47B |
| Tangible asset value | −$6.57B | −$5.25B | −$4.45B | −$4.79B | −$4.55B | −$3.48B | −$3.46B | −$3.61B | −$3.76B | −$3.76B |
| Net current asset value | −$8.23B | −$6.14B | −$5.11B | −$5.44B | −$5.05B | −$3.88B | −$3.92B | −$3.99B | −$4.09B | −$4.02B |
| Graham number | $136.07 | $116.88 | $114.48 | $96.11 | $87.54 | $84.08 | $95.99 | $84.75 | $83.61 | $58.84 |
| Graham net-net per share | −$143.43 | −$162.70 | −$102.89 | −$97.49 | −$80.28 | −$60.64 | −$67.60 | −$62.53 | −$60.51 | −$54.26 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | $0 | — | — | — | — |
| Share buybacks (net) | $782.8M | $1.29B | $686.9M | $1.41B | $1.36B | $849.9M | $694.9M | $958.7M | $402.4M | $187.7M |
| Dividend payout ratio | — | — | — | — | — | 0.0% | — | — | — | — |
| Dividends + buybacks / free cash flow | 60.3% | 73.0% | 35.3% | 232.9% | 124.9% | 61.0% | 63.9% | 116.6% | 66.0% | 28.9% |
| Capex / revenue | 4.4% | 4.4% | 4.1% | 4.4% | 3.9% | 3.3% | 2.8% | 3.3% | 3.1% | 3.2% |
| Capex / operating cash flow | 13.4% | 9.0% | 7.3% | 20.1% | 9.3% | 5.3% | 6.5% | 9.0% | 10.3% | 8.3% |
| Capex / depreciation | 0.51 | 0.50 | 0.46 | 0.47 | 0.39 | 0.31 | 0.27 | 0.30 | 0.26 | 0.30 |
| Stock-based compensation / revenue | 2.3% | 2.9% | 3.1% | 3.5% | 2.8% | 1.8% | 2.3% | 2.9% | 4.1% | 3.5% |
| R&D / revenue | — | — | — | — | — | 1.7% | 1.4% | 1.0% | 1.0% | 1.0% |
| SG&A / revenue | 26.8% | 25.1% | 25.1% | 26.1% | 26.4% | 23.8% | 23.1% | 23.5% | 29.9% | 28.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 245.2 | 195.2 | 205.3 | 205.4 | 203.5 | 224.3 | 206.3 | 213.4 | 212.7 | 183.4 |
| Days of inventory on hand | — | — | 1,157.4 | 952.2 | 1,007.5 | 760.0 | — | 0.0 | 0.0 | — |
| Days payables outstanding | 419.9 | 671.0 | 710.9 | 710.1 | 802.2 | 705.1 | 814.1 | 956.1 | 1,099.7 | 935.0 |
| Cash conversion cycle (days) | -174.7 | -475.8 | 651.8 | 447.5 | 408.8 | 279.2 | -607.8 | -742.7 | -887.0 | -751.6 |
| Receivables turnover | 1.49 | 1.87 | 1.78 | 1.78 | 1.79 | 1.63 | 1.77 | 1.71 | 1.72 | 1.99 |
| Payables turnover | 0.87 | 0.54 | 0.51 | 0.51 | 0.45 | 0.52 | 0.45 | 0.38 | 0.33 | 0.39 |
| Inventory turnover | — | — | 0.32 | 0.38 | 0.36 | 0.48 | — | 487,695,000.00 | 429,613,000.00 | — |
| Asset turnover | 0.20 | 0.24 | 0.25 | 0.25 | 0.23 | 0.20 | 0.23 | 0.22 | 0.21 | 0.21 |
| Average receivables | $3.04B | $2.13B | $2.11B | $1.93B | $1.58B | $1.47B | $1.50B | $1.42B | $1.31B | $920.5M |
| Average payables | $1.57B | $1.60B | $1.60B | $1.49B | $1.23B | $1.15B | $1.18B | $1.28B | $1.29B | $910.5M |
| Average inventory | — | — | $2.60B | $1.99B | $1.55B | $1.24B | — | $1 | $1 | — |
| Intangibles / total assets | 40.9% | 46.8% | 50.0% | 52.0% | 55.3% | 61.1% | 58.6% | 62.0% | 65.7% | 71.1% |
Computed from CPAY's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CPAY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Corpay traded at 20.0 times earnings, against a 10-year median of 23.3. Based on the latest twelve months, the trailing P/E is 24.3 and the forward P/E is 12.8. Corpay earned a return on equity of 30.5% and a return on invested capital of 18.6% in fiscal 2025. It ended the year with $10.1 billion of debt and $9.0 billion in cash and short-term investments, net debt of $1.1 billion. It returned $782.8 million to shareholders: $0 in dividends and $782.8 million in share buybacks, 60% of free cash flow. The share count fell 25.4% from 95.2M to 71.1M over 9 years.
See the CPAY income statement, the CPAY chart for price history, or the CPAY stock overview for the latest quote and news.
CPAY key metrics FAQ
What is Corpay's P/E ratio?
Corpay's trailing P/E ratio is 24.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.8. At the end of fiscal 2025 it was 20.0, compared with a 10-year median of 23.3.
What is Corpay's EV/EBITDA?
Corpay's enterprise value was 9.6 times EBITDA at the end of fiscal 2025 (enterprise value $22.5 billion, EBITDA $2.3 billion); the current EV/EBITDA is 13.0.
What is Corpay's return on equity?
Corpay's return on equity (ROE) was 30.5% in fiscal 2025: net income of $1.1 billion on average shareholders' equity of $3.5 billion.
What is Corpay's ROIC?
Corpay's return on invested capital was 18.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Corpay have?
Corpay had total debt of $10.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.60 and $1.1 billion of net debt (0.48 times EBITDA).
Does Corpay buy back its shares?
Yes. Corpay spent $782.8 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.1% over the year, to 71.1M..
What is Corpay's free cash flow yield?
Corpay generated $1.3 billion of free cash flow in fiscal 2025, a free cash flow yield of 6.1% on its market value at year-end ($21.4 billion).
What is Corpay's current ratio?
Corpay's current ratio was 0.98 at the end of fiscal 2025: current assets were 0.98 times current liabilities.