Corpay Inc. (CPAY) financial statements: income statement, balance sheet and cash flow

Corpay Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Corpay Inc. reported revenue of $4.5B (+13.9% year on year) and net income of $1.1B (+6.8% year on year).

Income statement

Corpay Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues, net	$4.5B	$4.0B	$3.8B	$3.4B
Processing	$969.2M	$869.1M	$819.9M	$764.7M
Selling	$479.0M	$380.9M	$340.2M	$309.1M
General and administrative	$733.0M	$616.9M	$603.4M	$584.1M
Depreciation and amortization	$393.3M	$351.1M	$336.6M	$322.3M
Goodwill impairment	$0	$90.0M	—	—
Other operating, net	$2.1M	$789.0K	$753.0K	$282.0K
Gain on disposition, net	($42.3M)	($121.3M)	—	—
Operating income	$2.0B	$1.8B	$1.7B	$1.4B
Other expense (income), net	$47.0M	$13.7M	($16.6M)	$3.0M
Interest expense, net	$403.8M	$383.0M	$348.6M	$164.7M
Loss on extinguishment of debt	$1.6M	$5.0M	$0	$1.9M
Total other expense, net	$452.4M	$402.0M	$331.9M	$171.0M
Income before income taxes	$1.5B	$1.4B	$1.3B	$1.3B
Provision for income taxes	$469.7M	$381.4M	$343.1M	$321.3M
Net income	$1.1B	$1.0B	—	—
Less: Net income (loss) attributable to noncontrolling interests	$2.1M	($14.0K)	—	—
Net income attributable to Corpay	$1.1B	$1.0B	$981.9M	$954.3M
Basic earnings per share attributable to Corpay (in dollars per share)	$15.23	$14.27	$13.42	$12.62
Diluted earnings per share attributable to Corpay (in dollars per share)	$15.03	$13.97	$13.20	$12.42
Basic shares (in shares)	70.1M	70.3M	73.2M	75.6M
Diluted shares (in shares)	71.1M	71.8M	74.4M	76.9M

Corpay Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues, net	$1.3B	$1.3B	$1.2B	$1.1B
Processing	$275.2M	$272.1M	$248.8M	$238.5M
Selling	$150.6M	$148.2M	$117.6M	$115.8M
General and administrative	$223.7M	$203.8M	$178.6M	$177.0M
Depreciation and amortization	$118.3M	$114.8M	$93.2M	$91.3M
Other operating, net	$99.9M	$7.4M	$11.2M	$2.0K
Gain on disposition, net	$1.1M	$121.4M	—	—
Operating income	$472.3M	$636.2M	$523.1M	$479.4M
Other expense (income), net	$6.3M	$21.0M	$1.4M	($10.6M)
Interest expense, net	$114.7M	$110.1M	$100.0M	$96.9M
Loss on extinguishment of debt	$6.6M	$0	$0	$0
Total other expenses, net	$127.6M	$131.1M	$101.4M	$86.3M
Income before income taxes	$344.7M	$505.0M	$421.7M	$393.1M
Provision for income taxes	$92.9M	$151.3M	$143.3M	$109.0M
Net income	$251.8M	$353.7M	$278.4M	$284.1M
Less: Net income (loss) attributable to noncontrolling interest	$3.5M	$3.6M	$438.0K	($90.0K)
Net income attributable to Corpay	$248.3M	$350.1M	$277.9M	$284.2M
Basic earnings per share attributable to Corpay (in dollars per share)	$3.75	$5.14	$3.95	$4.03
Diluted earnings per share attributable to Corpay (in dollars per share)	$3.70	$5.07	$3.91	$3.98
Basic shares (in shares)	65.5M	67.5M	70.3M	70.5M
Diluted shares (in shares)	66.3M	68.4M	71.1M	71.4M

Balance sheet

Corpay Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$2.4B	$1.6B	$1.4B	$1.4B
Restricted cash	$6.6B	$2.9B	$1.8B	$854.0M
Accounts and other receivables (less allowance for credit losses of $170,957 at December 31, 2025 and $133,757 at December 31, 2024)	$2.1B	$2.1B	$2.2B	$2.1B
Securitized accounts receivable—restricted for securitization investors	$1.8B	$1.3B	$1.3B	$1.3B
Prepaid expenses and other current assets	$1.0B	$806.0M	$474.1M	$465.2M
Total current assets	$14.0B	$8.7B	$7.1B	$6.1B
Property and equipment, net	$472.3M	$377.7M	$343.2M	$294.7M
Goodwill	$7.6B	$6.0B	$5.6B	$5.2B
Other intangibles, net	$3.2B	$2.4B	$2.1B	$2.1B
Investments	$601.9M	$60.1M	$69.5M	$74.3M
Other assets	$568.1M	$448.3M	$248.7M	$281.7M
Total assets	$26.4B	$18.0B	$15.5B	$14.1B
Accounts payable	$1.6B	$1.6B	$1.6B	$1.6B
Accrued expenses	$606.6M	$444.9M	$356.1M	$351.9M
Customer deposits	$8.1B	$3.3B	$2.4B	$1.5B
Securitization facility	$1.8B	$1.3B	$1.3B	$1.3B
Current portion of notes payable and lines of credit	$1.5B	$1.4B	$819.7M	$1.0B
Other current liabilities	$661.4M	$656.4M	$320.6M	$303.5M
Total current liabilities	$14.3B	$8.7B	$6.8B	$6.0B
Notes payable and other obligations, less current portion	$6.7B	$5.2B	$4.6B	$4.7B
Deferred income taxes	$614.3M	$439.2M	$470.2M	$527.5M
Other noncurrent liabilities	$612.3M	$437.9M	$301.8M	$254.0M
Total noncurrent liabilities	$7.9B	$6.1B	$5.4B	$5.5B
Redeemable noncontrolling interest (Note 2)	$302.0M	—	—	—
Common stock, $0.001 par value; $475,000,000 shares authorized; 132,186,610 shares issued and 68,362,289 shares outstanding at December 31, 2025; and 131,425,669 shares issued and 70,170,016 shares outstanding at December 31, 2024	132.0K	131.0K	129.0K	128.0K
Additional paid-in capital	$4.0B	$3.8B	$3.3B	$3.0B
Retained earnings	$10.3B	$9.2B	$8.2B	$7.2B
Accumulated other comprehensive loss	($1.4B)	($1.7B)	($1.3B)	($1.5B)
Less treasury stock (63,824,321 shares and 61,255,653 shares at December 31, 2025 and 2024, respectively)	-9.0B	-8.2B	-6.9B	-6.2B
Total Corpay stockholders’ equity	$3.9B	$3.1B	$3.3B	$2.5B
Noncontrolling interest	$42.8M	$23.6M	—	—
Total equity	$3.9B	$3.1B	—	—
Total liabilities, redeemable noncontrolling interest and equity	$26.4B	$18.0B	$15.5B	$14.1B

Corpay Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$3.2B	$2.5B	$2.0B	$2.2B
Restricted cash	$7.0B	$6.3B	$2.9B	$3.3B
Accounts and other receivables (less allowance for credit losses of $176,244 at June 30, 2026 and $170,957 at December 31, 2025)	$2.7B	$2.6B	$2.7B	$2.6B
Securitized accounts receivable—restricted for securitization investors	$2.3B	$2.1B	$1.8B	$1.6B
Prepaid expenses and other current assets	$1.4B	$1.0B	$781.5M	$987.6M
Total current assets	$16.5B	$14.6B	$10.1B	$10.8B
Property and equipment, net	$472.3M	$468.5M	$453.1M	$434.3M
Goodwill	$7.1B	$7.3B	$6.3B	$6.3B
Other intangibles, net	$2.9B	$3.1B	$2.3B	$2.4B
Investments	$576.2M	$586.7M	$58.7M	$58.3M
Other assets	$622.0M	$573.9M	$476.8M	$477.0M
Total assets	$28.2B	$26.7B	$19.7B	$20.4B
Accounts payable	$2.3B	$2.1B	$2.0B	$2.0B
Accrued expenses	$568.4M	$614.4M	$533.7M	$450.2M
Customer deposits	$8.9B	$7.9B	$3.5B	$4.1B
Securitization facility	$2.3B	$2.1B	$1.8B	$1.6B
Current portion of notes payable and lines of credit	$2.2B	$1.6B	$546.3M	$609.6M
Other current liabilities	$673.7M	$667.5M	$609.8M	$823.2M
Total current liabilities	$17.0B	$15.0B	$8.9B	$9.6B
Notes payable and other obligations, less current portion	$6.1B	$6.6B	$5.8B	$5.9B
Deferred income taxes	$599.8M	$595.9M	$372.0M	$379.2M
Other noncurrent liabilities	$665.2M	$609.3M	$519.8M	$580.0M
Total noncurrent liabilities	$7.4B	$7.8B	$6.7B	$6.8B
Redeemable noncontrolling interest	$314.0M	$308.0M	—	—
Common stock, $0.001 par value; 475,000,000 shares authorized; 132,878,962 shares issued and 65,655,113 shares outstanding at June 30, 2026; and 132,186,610 shares issued and 68,362,289 shares outstanding at December 31, 2025	133.0K	132.0K	132.0K	132.0K
Additional paid-in capital	$4.1B	$4.0B	$3.9B	$3.9B
Retained earnings	$10.9B	$10.6B	$10.0B	$9.7B
Accumulated other comprehensive loss	($1.4B)	($1.4B)	($1.4B)	($1.4B)
Less treasury stock, 67,223,849 shares at June 30, 2026 and 63,824,321 shares at December 31, 2025	-10.1B	-9.8B	-8.5B	-8.3B
Total Corpay stockholders’ equity	$3.5B	$3.5B	$4.1B	$3.9B
Noncontrolling interest	$46.1M	$45.4M	$43.4M	$38.6M
Total equity	$3.6B	$3.6B	$4.1B	$4.0B
Total liabilities, redeemable noncontrolling interest and equity	$28.2B	$26.7B	$19.7B	$20.4B

Cash flow statement

Corpay Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.1B	$1.0B	$981.9M	$954.3M
Depreciation	$131.2M	$120.1M	$110.0M	$92.0M
Stock-based compensation	$102.6M	$116.7M	$116.1M	$121.4M
Provision for credit losses on accounts and other receivables	$122.6M	$103.1M	$125.2M	$131.1M
Amortization of deferred financing costs and discounts	$21.1M	$8.0M	$7.2M	$7.7M
Amortization of intangible assets and premium on receivables	$262.1M	$231.0M	$226.6M	$230.3M
Deferred income taxes	($27.9M)	($64.7M)	($46.7M)	($33.2M)
Loss on extinguishment of debt	$1.6M	$5.0M	$0	$1.9M
Goodwill impairment	$0	$90.0M	—	—
Gain on disposition of business	($42.3M)	($121.3M)	($13.7M)	—
Other non-cash operating expense, net	$19.3M	$1.0M	$637.0K	$282.0K
Accounts and other receivables	($499.2M)	($176.9M)	($210.3M)	($598.7M)
Prepaid expenses and other current assets	($101.0M)	$9.2M	$69.3M	($17.5M)
Derivative assets and liabilities, net	($74.2M)	($15.4M)	($33.3M)	($11.3M)
Other assets	$13.0M	($32.2M)	$54.2M	($41.1M)
Accounts payable, accrued expenses and customer deposits	$499.0M	$663.2M	$714.0M	($84.0M)
Net cash provided by operating activities	$1.5B	$1.9B	$2.1B	$754.8M
Acquisitions, net of cash acquired	$1.9B	($821.9M)	($428.3M)	($216.9M)
Purchases of property and equipment	($200.8M)	($175.2M)	($153.8M)	($151.4M)
Investment in equity method investment	($578.4M)	—	—	—
Proceeds from disposal of a business, net of cash disposed	$58.2M	$185.5M	$197.0M	$0
Other	$14.6M	$4.1M	$4.4M	$0
Net cash provided by (used in) investing activities	$1.2B	($807.5M)	($380.7M)	($368.3M)
Proceeds from issuance of common stock	$67.8M	$428.2M	$113.7M	$49.4M
Repurchase of common stock	($782.8M)	($1.3B)	($686.9M)	($1.4B)
Proceeds from redeemable noncontrolling interest	$300.0M	—	—	—
Borrowings on securitization facility, net	$500.0M	$16.0M	$20.0M	$169.0M
Deferred financing costs	($38.8M)	($8.5M)	($376.0K)	($10.4M)
Proceeds from notes payable	$1.6B	$825.0M	$0	$3.0B
Principal payments on notes payable	($197.1M)	($140.1M)	($94.0M)	($2.8B)
Borrowings from revolver	$12.1B	$10.0B	$8.7B	$7.2B
Payments on revolver	($12.1B)	($9.3B)	($9.1B)	($6.5B)
Borrowing (payments) on swing line of credit, net	$692.0K	($140.7M)	$135.6M	$194.0K
Other	($928.0K)	$2.0M	($2.3M)	($271.0K)
Net cash provided by (used in) financing activities	$1.6B	$405.0M	($898.2M)	($311.2M)
Effect of foreign currency exchange rates on cash	$246.6M	($223.3M)	$30.2M	($36.7M)
Net increase in cash and cash equivalents and restricted cash	$4.5B	$1.3B	$852.4M	$38.5M
Cash, cash equivalents and restricted cash at beginning of period	$4.5B	$3.1B	$2.3B	$2.3B
Cash, cash equivalents and restricted cash at end of period	$9.0B	$4.5B	$3.1B	—
Cash paid for interest	$491.4M	$496.1M	$448.4M	$229.6M
Cash paid for income taxes	$510.7M	$374.0M	$408.3M	$358.2M

Corpay Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$605.5M	$353.7M	$806.3M	$528.0M
Depreciation	$72.1M	$35.4M	$90.9M	$58.2M
Stock-based compensation	$59.5M	$27.5M	$74.8M	$47.2M
Provision for credit losses on accounts and other receivables	$90.7M	$42.4M	$89.8M	$62.2M
Provision for legal settlement	$100.0M	—	—	—
Amortization of deferred financing costs and discounts	$7.2M	$3.7M	$15.2M	$4.8M
Amortization of intangible assets and premium on receivables	$161.0M	$79.4M	$185.8M	$125.4M
Loss on extinguishment of debt	$6.6M	$0	$1.6M	$1.6M
Deferred income taxes	($53.6M)	$30.1M	($38.5M)	($25.5M)
Gain on disposition of business	($122.5M)	($121.4M)	—	—
Other non-cash operating expense (income), net	$28.9M	$24.4M	$3.1M	($8.7M)
Accounts and other receivables	($1.1B)	($843.8M)	($933.2M)	($740.4M)
Prepaid expenses and other current assets	$6.5M	$39.0M	($53.9M)	($35.2M)
Derivative assets and liabilities, net	($12.5M)	($38.0M)	($57.5M)	($43.8M)
Other assets	($23.3M)	($138.0K)	$11.7M	$20.9M
Accounts payable, accrued expenses and customer deposits	$1.6B	$311.1M	$490.9M	$1.1B
Net cash provided by operating activities	$1.4B	($56.6M)	$687.2M	$1.1B
Acquisitions, net of cash acquired	$0	$0	($154.6M)	($154.6M)
Purchases of property and equipment	($105.5M)	($51.1M)	($148.3M)	($97.4M)
Proceeds from disposal of a business, net of cash disposed	$421.7M	$420.2M	—	—
Proceeds from sale of cost method investment	$30.0K	—	$14.8M	$14.8M
Other	$5.3M	$0	$5.2M	$14.6M
Net cash provided by (used in) investing activities	$321.5M	$369.1M	($282.9M)	($222.6M)
Proceeds from issuance of common stock	$86.4M	$11.7M	$63.0M	$56.0M
Repurchase of common stock	($1.1B)	($786.0M)	($282.6M)	($90.9M)
Borrowings on securitization facility, net	$477.0M	$321.0M	$432.0M	$316.0M
Deferred financing costs	($28.2M)	($349.0K)	($10.8M)	($10.8M)
Proceeds from notes payable	$5.4B	$0	$750.0M	$750.0M
Principal payments on notes payable	($6.0B)	($51.5M)	($147.9M)	($98.6M)
Borrowings from revolver	$7.9B	$3.2B	$6.4B	$4.5B
Payments on revolver	($7.2B)	($3.1B)	($7.3B)	($5.4B)
Borrowings on subsidiary swingline, net	$60.8M	$46.7M	$692.0K	$24.0M
Other	$756.0K	$285.0K	($730.0K)	($333.0K)
Net cash (used in) provided by financing activities	($419.7M)	($416.2M)	($102.3M)	$78.4M
Effect of foreign currency exchange rates on cash	($114.1M)	($71.9M)	$156.1M	$153.2M
Net increase in cash and cash equivalents and restricted cash	$1.2B	($175.6M)	$458.0M	$1.1B
Net decrease in cash classified within current assets held for sale	($24.7M)	—	—	—
Cash and cash equivalents and restricted cash, beginning of period	$9.0B	$9.0B	$4.5B	$4.5B
Cash and cash equivalents and restricted cash, end of period	$10.2B	$8.8B	$4.9B	$5.5B
Cash paid for interest	$281.0M	$136.3M	$357.4M	$238.8M
Cash paid for income taxes	$350.5M	$102.8M	$381.4M	$262.0M
Fixed assets accrued at the end of the period	$23.0M	—	—	—

Corpay Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.