Added to YB: 2026-08-27
Pitch date: 2026-08-20
CPAY [neutral]
Corpay, Inc.
-1.72%
current return
Author Info
Bob’s Payment Stock Substack is a former analyst and portfolio manager. Fundamental buy-and-hold investor. Talking stocks and markets. Focus on Payments, Financial Technology, and Payroll and HCM. Sign up for the newsletter.
Company Info
Corpay, Inc. operates as a payments company that helps businesses and consumers to manage and pay their expenses.
Market Cap
$27.2B
Pitch Price
$414.07
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.42
P/E
25.22
EV/Sales
6.99
Sector
Financial Services
Category
growth
Payments and FinTech Earnings Recap: Q2 2026 - Corpay, Inc.
CPAY (earnings): Q2'26: 10% organic rev growth (down 1pt QoQ); Corporate Payments (~40% of rev) +18% ex-float, new sales +30% (+40% CorpPay), retention 96-97% vs 93% avg. AvidX (33% owned) EBITDA >doubled, step-up from +50% Q1 — showing M&A earnings-power lift. Negatives: H2 EBITDA margins slightly below prior yr on reinvestment; US vehicle payments slowed on sales reallocation to CorpPay. Clarke sees deal multiples normalizing→more accretive M&A. Thesis: underappreciated compounder; mid-teens NTM P/E (SBC-burdened) reasonable for sustained DD organic growth in larger, less competitive markets.
Read full article (1 min)