CPAY FY 2023 Earnings Report — Corpay, Inc. Revenue & Financial Results | Market Cap Arena

Corpay, Inc.CPAY

FY 2023 Earnings

Reported December 30, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$3.8B	—	$3.4B	—	9.6%
Op. Income	$1.7B	—	$1.4B	—	14.5%
Gross Margin	78.2%	—	77.7%	—	0.5pp
Net Margin	26.1%	—	27.8%	—	-1.7pp
EPS (Diluted)	$13.20	—	$12.42	—	6.3%
Free Cash Flow	$1.9B	—	$603M	—	222.7%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$820M
GROSS PROFIT	$2.9B
R&D Expenses	$0
Selling & Marketing	$340M
General & Administrative	$603M
SG&A Expenses	$944M
Other Expenses	$337M
Operating Expenses	$1.3B
Cost & Expenses	$2.1B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$349M
Other Income/Expenses	-$332M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$343M
Net Income from Continuing Ops	$982M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$982M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$982M
D&A	$337M
EBIT	$1.7B
EBITDA	$2.0B
EPS	$13
EPS Diluted	$13

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$820M
GROSS PROFIT	$2.9B
R&D Expenses	$0
Selling & Marketing	$340M
General & Administrative	$603M
SG&A Expenses	$944M
Other Expenses	$337M
Operating Expenses	$1.3B
Cost & Expenses	$2.1B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$349M
Other Income/Expenses	-$332M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$343M
Net Income from Continuing Ops	$982M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$982M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$982M
D&A	$337M
EBIT	$1.7B
EBITDA	$2.0B
EPS	$13
EPS Diluted	$13

Cash Flow Statement

Item	Amount
Net Income	$982M
Depreciation & Amortization	$337M
Stock-Based Compensation	$116M
Deferred Income Tax	-$47M
Other Non-Cash Items	$119M
Change in Working Capital	$594M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$154M
Acquisitions (Net)	-$231M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$381M
Net Debt Issuance	-$322M
Common Stock Repurchased	-$687M
Common Dividends Paid	$0
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$898M
FREE CASH FLOW	$1.9B
Net Change in Cash	$852M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$0
Net Receivables	$2.2B
Inventory	$0
Other Current Assets	$3.5B
TOTAL CURRENT ASSETS	$7.1B
PP&E (Net)	$343M
Goodwill	$5.6B
Intangible Assets	$2.1B
Long-Term Investments	$70M
Tax Assets	$0
Other Non-Current Assets	$249M
TOTAL NON-CURRENT ASSETS	$8.4B
TOTAL ASSETS	$15.5B
Account Payables	$1.6B
Short-Term Debt	$2.1B
Deferred Revenue	$2.4B
Other Current Liabilities	$321M
TOTAL CURRENT LIABILITIES	$6.8B
Long-Term Debt	$4.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$470M
Other Non-Current Liabilities	$302M
TOTAL NON-CURRENT LIABILITIES	$5.4B
TOTAL LIABILITIES	$12.2B
Common Stock	$129.0K
Additional Paid-In Capital	$3.3B
Retained Earnings	$8.2B
Treasury Stock	-$6.9B
Accum. Other Comp. Income	-$1.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$15.5B
Total Debt	$6.7B
Net Debt	$5.3B