Corpay Inc
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −0.06%.
Did CPAY Beat Earnings? Q4 2025 Results
Corpay closed out fiscal 2025 on a high note, posting Q4 revenue of $1.25 billion, up 20.7% year over year, while adjusted EPS of $6.04 edged past the $5.94 consensus estimate by 1.68%, underscoring the company's consistent execution across its payments portfolio. The standout driver was Corporate Payments, where reported revenue surged 39% and spend volume climbed 67% to $81.43 billion, even as lower interest rates shaved roughly 200 basis points from float revenue. The quarter also captured early contributions from the Alpha Group acquisition, the second-largest deal in Corpay's history, which closed in Q4 and positions the company for deeper penetration in cross-border <a href="https://247wallst.com/investing/2026/01/19/payoneer-vs-paypal-which-payment-processor-wins-the-stablecoin-war/">corporate payments flows</a>. Management deployed over $4.30 billion in capital for the full year, including $500 million in share repurchases in Q4 alone. Looking ahead, Corpay guided FY2026 revenue of $5.22 billion to $5.32 billion and adjusted EPS of $25.50 to $26.50, implying roughly 16% revenue growth and 22% adjusted EPS growth at the respective midpoints.
- 11% organic revenue growth for third consecutive quarter
- Corporate Payments segment delivered 16% organic revenue growth despite 200bps float revenue headwind from lower interest rates
- Corporate Payments spend volume grew 67% to $81.4 billion
- Vehicle Payments transactions grew 7% year-over-year
- Revenue per room night in Lodging increased 25% to $14.18
- Alpha Group acquisition contributed to Corporate Payments segment growth
- Adjusted EBITDA margin expanded to 57.1% in Q4
“We had a strong finish to 2025, with fourth quarter revenue, organic revenue and adjusted net income per share finishing ahead of expectations. We were an active corporate development shop, closing the second largest acquisition in the Company's history, as well as two significant strategic investments. Our 2025 exit rate and accretive deals create a strong set-up for 2026, as we accelerate our rotation to more corporate payments.”
Corpay CEO, on the earnings call
Forward Guidance & Outlook
For FY2026, Corpay expects total revenues of $5,215M–$5,315M, net income of $1,344M–$1,438M, GAAP EPS of $19.49–$20.49, adjusted net income of $1,762M–$1,856M, and adjusted EPS of $25.50–$26.50, representing approximately 16% revenue growth and 22% adjusted EPS growth at the midpoints. The company expects 10% organic revenue growth, continued tight expense management, and benefits from Q4 share repurchases. Key assumptions include weighted average U.S. fuel prices of $2.90/gallon, flat fuel price spreads vs. 2025, FX rates equal to January 2026 60-day average, interest expense of $370M–$400M, ~70M fully diluted shares, and an adjusted effective tax rate of 25%–27%. For Q1 2026, organic revenue growth is expected at ~9% at the midpoint with adjusted EPS growing over 20%, with revenue and adjusted EPS expected to build significantly over the year as organic revenue grows and deal synergies are realized. Q1 2026 guidance: net income $263M–$277M, GAAP EPS $3.83–$3.97, adjusted net income $371M–$385M, adjusted EPS $5.38–$5.52.
CPAY YoY Financials
CPAY Revenue by Segment
CPAY Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.