Filing Flows › Corpay (CPAY) › Q4 2025
Corpay (CPAY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Corpay (CPAY) reported revenue of $1.2B for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +6% from the quarter before. Operating margin was 45.2%, net earnings $266M (21.3% of revenue).
Corpay, Q4 2025: revenue $1.2B (+21% year over year), operating margin 45.2%, net earnings $266M, operating cash flow $813M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +6% | +21% |
| Operating profit | $564M | +8% | +16% |
| Net earnings | $266M | -5% | +8% |
| Operating cash flow | $813M | — | +25% |
| Free cash flow | $760M | — | +26% |
What changed
Revenue was $1.2B in Q4 2025, up 21% year over year and up 6% from the previous quarter.
Operating profit was $0.56B, a 45.2% margin (down 2.0 points year over year). Of the extra revenue versus a year earlier, 36% reached operating profit, below the 47% margin then. Total costs grew 25% against revenue growth of 21%. The fastest-growing cost line was Sales & marketing (+42%). Net earnings were $0.26B, up 8% year over year. The effective tax rate was 33.5%.
Operating cash flow was $0.81B (up 25% year over year), 306% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.40B. Capital expenditures of $0.05B left free cash flow of $0.76B.
Questions
What was Corpay's revenue in the fourth quarter 2025?
Corpay (CPAY) reported revenue of $1.2B for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +6% from the quarter before.
Was Corpay profitable in the fourth quarter 2025?
Operating profit was $564M (45.2% of revenue) and net earnings $266M.
Source: Corpay 10-K on SEC EDGAR.