Is the business good?
How good a business is CPAY?
Corpay earns 13% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
13%
Return on invested capital · cost of capital 9.0% · 3.9 points above what the capital costs: growth creates value
- Operating margin
- 46%
Operating margin · Software - Infrastructure median 6.1% · 12 months to Q1 2026
- Cash conversion
- 1.11×
Cash conversion · 1.31× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −4.3%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 41% |
| FY2021 | 44% |
| FY2022 | 42% |
| FY2023 | 44% |
| FY2024 | 45% |
| FY2025 | 44% |
Details›
- Operating margin12 months to Q1 2026
- 46%
- Net margin12 months to Q1 2026
- 25%
- Free cash flow margin
- 27%
- Revenue, trailing twelve months
- $4.78B
- Free cash flow, trailing twelve months
- $1.31B
- Net income, trailing twelve months
- $1.18B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Infrastructure
Ranks #44 of 78 by Smart Score