Corpay (CPAY)
Runs vehicle, corporate, and lodging payment workflows for businesses worldwide.
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Sells specialized payment programs for vehicle, corporate, and lodging expenses, earning mainly from transaction authorization and processing. The platform combines fleet and fuel controls, cross-border and accounts-payable workflows, commercial cards, and managed lodging, with a global footprint centered on the United States, Brazil, and the United Kingdom.
Organizes specialized business-payment products into Vehicle Payments, Corporate Payments, and Lodging Payments, with gift and payroll cards reported in Other. Vehicle offerings cover fuel, tolls, parking, and fleet controls; corporate offerings span cross-border payments, accounts-payable automation, virtual and commercial cards; lodging programs manage hotel and housing payments for workforces, airlines, and insurers.
Earns primarily from authorizing and processing customer transactions, using category-specific controls and merchant relationships to simplify business spending. Operations span 34 countries, with roughly half of revenue generated in the United States and meaningful exposure to Brazil and the United Kingdom.
Growth has shifted the mix toward corporate payments, including the Alpha cross-border acquisition and a minority investment in AvidXchange. The model depends on payment networks and merchant partners, protection of customer and transaction data, and compliance with financial-services, privacy, and cross-border rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 2, 2026 | Scotiabank | Initiate | Rating: —Target: — | Target: $536 |
| Aug 31, 2026 | RBC Capital | Reiterate | Rating: —Target: $423 | Target: $438 |
| Aug 25, 2026 | Wolfe Research | Reiterate | Rating: —Target: $475 | Target: $530 |
| Aug 10, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $385 | Target: $480 |
| Aug 7, 2026 | Morgan Stanley | Target | Target: $415 | Target: $455 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $3.16B · Total debt $10.62B · Total assets $28.22B · Shareholders' equity $3.54B
- Revenue
- $1.34B
- Operating income
- $471.2M
- Net income
- $248.3M
No dividends on record.
| Institutions | 98.60% | 64.45M shares | |
|---|---|---|---|
| 752 holders · as of Jun 30, 2026 | |||
| Insiders | 3.82% | 2.49M shares | |
| 17 holders · as of Aug 25, 2026 | |||
| Adds to | 102.42% | ||
65.36M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 102.42%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.74% | 5.71M | as of Jun 30, 2026 |
Orbis Allan Gray LtdInstitution | 8.27% | 5.41M | as of Jun 30, 2026 |
Orbis Investment Management LimitedInstitution | 7.76% | 5.08M | filed May 15, 2026 |
JPMorgan Chase & CoInstitution | 7.29% | 4.77M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.37% | 4.16M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Alan King | officer: GroupPresident IntlVehiclePmts | −3,805 | $416.61 |
| Aug 25, 2026 | Ronald Clarke | director, officer: CEO & Chairman of BOD | −119,486 | $412.40 |
| Aug 24, 2026 | Ronald Clarke | director, officer: CEO & Chairman of BOD | −94,374 | $415.77 |
| Aug 20, 2026 | Steven T. Stull | director | −2,357 | $413.62 |
| Aug 20, 2026 | Alan King | officer: GroupPresident IntlVehiclePmts | −18,423 | $414.64 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Corpay | $393.94 | −0.83% | $25.96B | 24.2 | 13.4 | 5.2 | +21.5% |
| WEX | $182.59 | −2.52% | $6.38B | 18.7 | 8.9 | 2.3 | +14.2% |
| American Express | $307.70 | −1.88% | $211.77B | 19.0 | 16.5 | 2.5 | +10.0% |
| Visa | $364.27 | −1.54% | $690.71B | 31.5 | 25.2 | 15.5 | +14.4% |
| BILL | $46.18 | −1.87% | $4.69B | — | 12.6 | 2.8 | +13.8% |
| Global Business Travel Group | $9.48 | +0.16% | $4.94B | 59.1 | 45.1 | 1.6 | +37.9% |
| Median | 25.2 | 16.5 | 2.5 | +14.2% |