What is the 13F Pro Quality Score for CPAY?

13F Pro ranks CORPAY, INC. (CPAY) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CPAY's current score at https://13fpro.ai/research/CPAY (free sign-up required for the full ranking).

Which hedge funds own the most CPAY stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of CPAY include BlackRock,, Orbis Allan Gray Ltd, VANGUARD CAPITAL MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/CPAY as soon as new 13F filings post.

Where does 13F Pro source CPAY data?

All CORPAY, INC. fundamentals and ownership data come directly from SEC EDGAR. CORPAY, INC. files with the SEC under CIK 1175454. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CPAY in?

CORPAY, INC. (CPAY) is classified in the Industrials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/industrials.

What drives CPAY's revenue?

Per CORPAY, INC.'s latest 10-Q filed with the SEC on 2026-05-08, the biggest revenue drivers are: Vehicle Payments ($563.9M, +18.9% YoY); Corporate Payments ($503.9M, +46.0% YoY); Lodging Payments ($111.0M, +0.7% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/CPAY.

What are CPAY's largest expenses?

CORPAY, INC.'s latest 10-Q reports these as the largest expense items: Processing ($272.1M, +22.6% YoY); General and administrative ($203.8M, +29.8% YoY); Selling ($148.2M, +37.8% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is CPAY research updated on 13F Pro?

CPAY's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

CORPAY, INC.(CPAY)Stock Analysis

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13F Pro Quality Score

67.1/100

Rank #481 of 2,879 stocksTOP 25%

View Industrials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

65.4/100

Profitability

86.8/100

Balance Sheet

66.8/100

Earnings Quality

55.1/100

Free Cash Flow

62.3/100

Institutional Flow

22.6/100

Revenue Scale

76.5/100

Dilution Risk

39.2/100

CPAY Stock Analysis & AI Quality Score

AI stock analysis and institutional research for CORPAY, INC. (CPAY), a Industrials sector company. 13F Pro's AI-powered ranking engine scores CPAY at 67.1/100 on a 32-signal composite quality model, placing it at rank #481 of 2,879 stocks — the top 25% of the AI-ranked universe. CPAY scores in the top quartile across profitability (86.8), revenue scale (76.5). Areas of concern include institutional flow (22.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 39.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), CORPAY, INC. reports quarterly revenue of $1.3B, net income of $350.1M, an operating margin of 50.4%. Top institutional holders of CPAY by reported 13-F value include BlackRock,, Orbis Allan Gray Ltd, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. CPAY trades on the NYSE exchange and files with the SEC under CIK 1175454. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CPAY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CORPAY, INC. directly from SEC EDGAR. CORPAY, INC.'s 13F Pro composite quality score has ranged between 8 and 78 since 2024, currently 67.1 — a declining long-term trajectory across 43 quarterly and live scoring snapshots.

✦

Fun facts about CORPAY, INC.

Quirks, history, and lore behind CPAY — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. business-to-business payments company · large-cap · listed on the NYSE · headquartered in Atlanta, Georgia.
2
The Numbers
Processes hundreds of billions of dollars in payment volume annually and generates roughly $4 billion in revenue — not bad for a company most consumers have never heard of.
3
The History
Traces its roots to a corporate fuel card business, then grew aggressively through acquisitions into a broader fleet, lodging, and AP payments powerhouse.
4
The Secret
Its core customers are businesses and governments that need to manage employee spending — think trucking fleets filling up tanks or road crews booking hotels on the company's dime.
5
The Lore
Once operated under the name FleetCor Technologies before rebranding, signaling a push well beyond its fleet card origins into global commercial payments.
6
The Giveaway
Formerly FleetCor, now rebranded with a ticker that rhymes with "pay" — because that's exactly what it helps corporations do.

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What's Driving CPAY's Business? Latest 10-Q Breakdown

✓ 46/46 datapoints verified

AI-extracted from CORPAY, INC.'s 10-Q filed 2026-05-08 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Corpay's Q1 revenue surged 25.4% YoY to $1.26B, driven by 11% organic growth and $200M acquisition contribution, with operating income nearly doubling to $636M amid PayByPhone's $121M divestiture gain.

Biggest Revenue Drivers

Total revenue: $1,261.0M+25.4% YoY

Vehicle Payments$563.9M+18.9% YoY

Organic growth of 10% driven by increased transaction volumes and international expansion, plus favorable FX of $38M, partially offset by PayByPhone divestiture impact.

Corporate Payments$503.9M+46.0% YoY

Organic growth of 16% from 43% spend volume increase; acquisitions (Alpha, Gringo integration) contributed $72M; favorable FX $22M offset by lower per-spend dollar rates.

Lodging Payments$111.0M+0.7% YoY

Minimal growth from higher revenue per room night in airlines/workforce solutions, offset by lower FEMA emergency room night volumes.

Other$82.2M+8.1% YoY

Strong transaction volume growth in Gift and Payroll Card businesses with improved revenue per transaction in Gift.

Largest Expense Items

Processing$272.1M+22.6% YoY

Driven by higher variable expenses from increased transaction volumes, $13M from acquisitions, $11M higher bad debt from volume and fuel prices, and $12M negative FX impact.

General and administrative$203.8M+29.8% YoY

Increased by acquisition-related deal fees, IT investments, $19M from acquisitions and $7M negative FX impact.

Selling$148.2M+37.8% YoY

Marketing investments to drive growth, higher commissions from sales volume, $18M from acquisitions, and $8M FX impact.

Depreciation and amortization$114.8M+24.6% YoY

Increased from capital investments, $22M from acquisitions, and $4M FX impact.

Margins: Operating margin expanded to 50.4% from 42.5% YoY, driven by $121.4M PayByPhone divestiture gain, organic growth and acquisition synergies; adjusted EBITDA margin was 54.6% versus 55.2%, reflecting margin pressure from sales investments and new customer mixes offsetting scale benefits.

Watch Items from the Filing

FTC litigation ongoing: Eleventh Circuit affirmed liability judgment on Jan 6, 2026, and denied en banc review May 5, 2026; company unable to estimate possible losses, creating contingent liability risk.
Geographic concentration: 43% US, 17% Brazil, 16% UK, 24% Other; Brazil and UK exposure to FX volatility ($62M FX benefit in Q1 alone).
Significant recent acquisitions creating integration risk: Alpha ($2.4B, closed Oct 2025, preliminary accounting), AvidXchange partnership ($578M for 35%, 33-month call option at 2.5x cost), Gringo ($154M, Feb 2025).
PayByPhone divestiture completed Q1 2026 for $420M net proceeds generated $121.4M gain; loss of revenue stream though limited operational impact on future quarters.
Customer concentration: Mastercard invested $300M for 2.3% noncontrolling interest in cross-border business with put/call rights, creating potential dilution or capital calls starting Aug 2027.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.3B

Net Income

Q1 2026

$350.1M

Free Cash Flow

Q1 2026

$-107.7M

Operating Margin

Q1 2026

50.4%

ROIC

Q1 2026

4.6%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+20.5% YoY

$4.53BFY 2025

FY18 $2.43BFY19 $2.65BFY23 $3.76BFY25 $4.53B

Net Income

+8.9% YoY

$1.07BFY 2025

FY18 $811.5MFY19 $895.1MFY23 $982.0MFY25 $1.07B

Operating Income

+20.4% YoY

$1.99BFY 2025

FY18 $1.09BFY19 $1.23BFY23 $1.66BFY25 $1.99B

EPS (Diluted)

+13.9% YoY

$15.03FY 2025

FY18 $8.81FY19 $9.94FY23 $13.20FY25 $15.03

Total Assets

+70.6% YoY

$26.41BFY 2025

FY18 $11.20BFY19 $12.25BFY23 $15.48BFY25 $26.41B

Total Debt

+50.8% YoY

$13.35BFY 2025

FY18 $2.07BFY19 $1.75BFY23 $8.85BFY25 $13.35B

Op. Cash Flow

-28.6% YoY

$1.50BFY 2025

FY18 $903.4MFY19 $1.16BFY23 $2.10BFY25 $1.50B

Metric	FY 2025	FY 2023	FY 2019	FY 2018	FY 2017	FY 2015
Revenue	$4.53B +20.5%	$3.76B +41.9%	$2.65B +8.8%	$2.43B +8.2%	$2.25B +32.1%	$1.70B
Net Income	$1.07B +8.9%	$982.0M +9.7%	$895.1M +10.3%	$811.5M +9.6%	$740.2M +104.2%	$362.4M
Operating Income	$1.99B +20.4%	$1.66B +34.5%	$1.23B +12.9%	$1.09B +23.4%	$883.8M +32.4%	$667.5M
EPS (Diluted)	$15.03 +13.9%	$13.20 +32.8%	$9.94 +12.8%	$8.81 +11.4%	$7.91 +105.5%	$3.85
Total Assets	$26.41B +70.6%	$15.48B +26.4%	$12.25B +9.3%	$11.20B -1.0%	$11.32B +43.5%	$7.89B
Total Debt	$13.35B +50.8%	$8.85B +406.6%	$1.75B -15.6%	$2.07B +28.1%	$1.62B +84.7%	$875.1M
Operating Cash Flow	$1.50B -28.6%	$2.10B +80.8%	$1.16B +28.6%	$903.4M +32.8%	$680.1M -9.9%	$754.6M

AI Insight: CPAY Financial Trends

CORPAY delivered 29% revenue growth since Q2 2024 while operating margins expanded, but debt surged 5.5x and operating cash flow turned volatile.

• Revenue grew from $976M (Q2 2024) to $1,261M (Q1 2026), +29% cumulative. Operating income expanded from $433M to $636M.

• Operating margin improved from 44.4% (Q2 2024) to 50.4% (Q1 2026), driven by scale and operational efficiency.

• Net income recovered to $350M in Q1 2026, highest in the dataset, despite debt burden doubling from $2.5B to $14.1B.

⚠ Total debt surged from $2.5B (Q2 2024) to $14.1B (Q1 2026); debt-to-equity ratio deteriorated to 4.02x from 0.91x.

⚠ Operating cash flow turned negative in Q1 2025 (-$74M) and Q3 2025 (-$379M), signaling working capital stress despite earnings strength.

⚠ Equity declined to $3.5B (Q1 2026) from $3.9B peak (Q3 2025), indicating balance sheet compression amid debt accumulation.

AI Insight: CPAY Ratio Trends

Operating margin surged to 50.4% in Q1 2026, but leverage spiked back to 4.02 D/E amid ROA deterioration.

• OpMargin expanded 5.2pp to 50.4% in Q1 2026, highest in dataset; NPM improved to 27.8% from 21.2% prior quarter.

• ROE rebounded sharply to 39.9% in Q1 2026 vs. 27.2% in Q4 2025, recouping prior-year weakness.

• Debt-to-equity ratio climbed back to 4.02 in Q1 2026, matching TTM and well above Q3 2025 trough of 2.56.

⚠ ROA slumped to 4.0% in Q4 2025 and remains subdued at 5.2% in Q1 2026 vs. 6.2% in Q2 2024.

⚠ Leverage reversal suggests either debt increase or equity deterioration; monitor Q1 2026 balance sheet composition.

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Available Research

13F Pro tracks comprehensive data for CORPAY, INC. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CPAY

BlackRock, Inc.
$1.8B6,173,498 sh
Orbis Allan Gray Ltd
$1.6B5,345,425 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.3B4,427,462 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$870.6M2,991,891 sh
STATE STREET CORP
$856.3M2,942,623 sh
FMR LLC
$784.8M2,696,926 sh
Boston Partners
$704.6M2,420,777 sh
GEODE CAPITAL MANAGEMENT, LLC
$564.3M1,946,042 sh
TIGER GLOBAL MANAGEMENT LLC
$509.9M1,752,146 sh
Select Equity Group, L.P.
$309.6M1,063,946 sh

Fund	Value	Shares
BlackRock, Inc.	$1.8B	6,173,498
Orbis Allan Gray Ltd	$1.6B	5,345,425
VANGUARD CAPITAL MANAGEMENT LLC	$1.3B	4,427,462
VANGUARD PORTFOLIO MANAGEMENT LLC	$870.6M	2,991,891
STATE STREET CORP	$856.3M	2,942,623
FMR LLC	$784.8M	2,696,926
Boston Partners	$704.6M	2,420,777
GEODE CAPITAL MANAGEMENT, LLC	$564.3M	1,946,042
TIGER GLOBAL MANAGEMENT LLC	$509.9M	1,752,146
Select Equity Group, L.P.	$309.6M	1,063,946

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Is CPAY a good stock to buy?

13F Pro's AI-powered analysis of CORPAY, INC. (CPAY) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CPAY are available on the CPAY stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own CPAY?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CPAY. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of CORPAY, INC.'s investment landscape.