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Corpay (CPAY) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Corpay (CPAY) Q3 2026 earnings results →

Q3 2026 Revenue up 18% year over year to $1.4B · 27¢ of every $1 of revenue kept as net profit · operating margin 45.0%

Corpay made $1.4B in Q3 2026 (+18% Y/Y). Operating margin 45.0%, net earnings $378M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$1.4B
Year over year+18%
Operating margin45.0%
Net earnings$378M
Operating cash flow−$697M

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Corpay Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Corpay Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.4B in Q3 2026, up 18% year over year and up 3% from the previous quarter.

Operating profit was $0.62B, a 45.0% margin (up 0.3 points year over year). Of the extra revenue versus Q3 2025, 47% reached operating profit, above the 45% margin then. Total costs grew 17% against revenue growth of 18%. The fastest-growing cost line was Sales & marketing (+24%). Net earnings were $0.38B, up 36% year over year. The effective tax rate was 23.9%.

Operating cash flow was −$0.70B. Non-cash charges added back $0.12B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $1.2B. Capital expenditures of $0.04B exceeded it, leaving free cash flow of −$0.74B.

Quarterly history

Corpay revenue by quarterCorpay revenue by quarter$1.0BQ1 2025$1.1BQ2 2025$1.2BQ3 2025$1.2BQ4 2025$1.3BQ1 2026$1.3BQ2 2026$1.4BQ3 2026
Corpay net earnings by quarterCorpay net earnings by quarter$244MQ1 2025$284MQ2 2025$278MQ3 2025$266MQ4 2025$350MQ1 2026$248MQ2 2026$378MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$1.4B+18%45.0%$378M−$697M
Q2 202610-QAug 10, 2026$1.3B+22%35.3%$248M$1.5B
Q1 202610-QMay 8, 2026$1.3B+25%50.4%$350M−$56.6M
Q4 202510-KFeb 27, 2026$1.2B+21%45.2%$266M$813M
Q3 202510-QNov 10, 2025$1.2B+14%44.6%$278M−$379M
Q2 202510-QAug 7, 2025$1.1B+13%43.5%$284M$1.1B
Q1 202510-QMay 12, 2025$1.0B+8%42.5%$244M−$74.2M

Charts

Corpay: revenue growth, year over year and quarter over quarterCorpay: revenue growth, year over year and quarter over quarterY/YQ/Q+8%Q1 2025+13%+10%Q2 2025+14%+6%Q3 2025+21%+6%Q4 2025+25%+1%Q1 2026+22%+6%Q2 2026+18%+3%Q3 2026
Latest (Q3 2026): Y/Y +18%, Q/Q +3%.
Corpay: where the cash came from (+) and went (−), TTM to Q3 2026Corpay: where the cash came from (+) and went (−), TTM to Q3 2026Cash drawn (+) / kept (−)−$4.5BOther financing$3.2BBuybacks−$2.3BAcquisitions$2.0BOperating cash flow$1.5BCapital spending−$196MShares issued$194MNet borrowing (+) / repaid (−)$185MOther investing−$88.3MNot reconciled−$31.1M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Corpay: profit against cash, quarter by quarterCorpay: profit against cash, quarter by quarterNet incomeOperating cash flow$246M$649MQ4 2024$244M−$74.2MQ1 2025$284M$1.1BQ2 2025$278M−$379MQ3 2025$266M$813MQ4 2025$354M−$56.6MQ1 2026$252M$1.5BQ2 2026$382M−$697MQ3 2026
Latest (Q3 2026): Net income $382M, Operating cash flow −$697M.
Corpay: diluted shares by fiscal yearCorpay: diluted shares by fiscal year87MFY202084MFY202177MFY202274MFY202372MFY202471MFY2025
-18.1% since FY2020: buybacks shrank the count.
Corpay in its industry: growth against margin (87 companies, SIC 7389)Corpay in its industry: growth against margin (87 companies, SIC 7389)revenue growth, year over year →↑ operating marginmedian +8%median 7%ACNUBERVMELIMAPYPLFISVDASHAMTMFISGPNEBAYCNXCLYFTBRFOURRBAMMSTNETAKAMCARTWUCSGPADVMSCIWEXZGCBZETSYFICOTICEXLSCNDTRELYALITMBGLQNSTMAXPAYHQYPAYOPRTHCTEVXMTRFLYWGETYANDGNUTXACVAXBPSEZLIMXILQDTPHRRMNIRPAYRGPSCORJANLCASSAMWLSGRPDHXBAERPAYSOPRXNOTEHGBLPOWWRSSSDVLTPAYDQMCIINVUTGLASFHCJMBOLBXHLDFTFTDBMMCNFNSRCOGBUXWASTBCRDCPAY (+18%, 45%)
Services-Business Services, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Corpay

Corpay, Inc. (the "Company") is a global corporate payments company that helps businesses and consumers better manage and pay their expenses in a simple, controlled manner. Corpay provides a broad suite of payment and spend management solutions,

In its own words, from its 10-K, filed Feb 27, 2026.

Corpay against its Services-Business Services, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +18% against the peers' median +13%. Operating margin: 45.0% against the peers' median 15.3%.

CompanyQuarterRevenueY/YOp. margin
CPAY CorpayQ3 2026$1.4B+18%45.0%
ACN AccentureQ4 FY26$18.7B+6%15.3%
UBER Uber TechnologiesQ3 2026$14.8B+10%9.8%
V VisaQ4 FY26$12.1B+13%59.8%
MELI MercadoLibreQ3 2026$10.8B+45%6.3%
MA MastercardQ3 2026$9.8B+14%59.8%
PYPL PayPal HoldingsQ3 2026$8.6B+2%16.3%
FISV FiservQ3 2026$5.2B-1%-105.7%
DASH DoorDashQ3 2026$4.6B+34%9.6%

Source: Corpay 10-Q on SEC EDGAR · CIK 1175454 · Services-Business Services, NEC

Guidance and outlook

Corpay Revenue: guidance against what was reportedCorpay Revenue: guidance against what was reportedguided rangereported (above / within / below)Q2 2024Q3 2024Q4 2024FY2024$4.0BFY2025$4.5BFY2026Q2 2026$1.3BQ3 2026$1.4B
Met or beat 4 of 4 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Corpay: what its forward-looking statements are about (10-Q filed 2026-11-05)Corpay: what its forward-looking statements are about (10-Q filed 2026-11-05)Other4Deals4The economy3Costs2Buybacks & dividends2Demand1Capital spending1
17 statements; tone +0.12 (−1 all cautious, +1 all confident); 3 hedged.
Corpay: outlook statements against the filing beforeCorpay: outlook statements against the filing beforeConfident4Cautious2

13F: who owns CPAY and who is buying

Largest holders of CPAY (13F)Largest holders of CPAY (13F)Vanguard Group$2.4BBlackRock$1.9BOrbis Allan Gray$1.8BVanguard Capital Management LLC$1.4BFMR LLC$1.1BState Street$944MBoston Partners$939MVanguard Portfolio Management LLC$925MPrice T Rowe Associates$818MTiger Global Management LLC$716M
Funds' net buying of CPAY by quarter (13F)Funds' net buying of CPAY by quarter (13F)−$253M2024-09−$356M2024-12$586M2025-03−$198M2025-06−$415M2025-09−$123M2025-12−$45.8M2026-03−$110M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CPAY

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Corpay（CPAY）财报

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