Corpay (CPAY) FY2025 10-K Annual Report
Corpay (CPAY) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Corpay FY2025 10-K Analysis
Business Overview
- • Global B2B payments platform spanning Corporate Payments, Vehicle Payments, Lodging Payments — volume-driven recurring revenue across 4 continents
- • AI-enabled spend analytics and unified Spend Management platform (virtual + purchasing + T&E cards in single system) explicitly emphasized as new capability
Management Discussion & Analysis
- • Revenue $4,528M, up 13.9% YoY ($553.8M increase); organic growth 10%, acquisitions contributed 5%
- • Operating margin 44.0% vs 45.0%; adjusted EBITDA margin 56.6% vs 57.1%; effective tax rate rose to 30.5% vs 27.5%
Risk Factors
- • FTC Order (June 8, 2023, U.S. District Court Northern District of Georgia) mandates advertising, contracting, and reporting compliance for U.S. fuel card business; non-compliance risks significant fines
- • ~51% of revenue denominated in non-USD currencies (BRL, GBP, EUR, CAD, AUD, MXN, CZK, NZD); ~8% of consolidated revenue directly tied to absolute fuel prices
Corpay FY2025 Key Financial MetricsXBRL
Revenue
$4.5B
▲ +13.9% YoY
Net Income
$1.1B
▲ +6.6% YoY
Operating Margin
44.0%
▼ -93bp YoY
Net Margin
23.6%
▼ -163bp YoY
ROE
27.5%
▼ -460bp YoY
Total Assets
$26.4B
▲ +47.1% YoY
EPS (Diluted)
$15.03
▲ +7.6% YoY
Operating Cash Flow
$1.5B
▼ -22.7% YoY
Source: XBRL data from Corpay FY2025 10-K filing on SEC EDGAR. All figures in USD.
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