Corpay Inc (CPAY) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Corpay Inc stock $388, price $419, that is 7.3% below the price, quality 71 out of 100. Rating: fairly valued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $164.00 – $425.24 · fair‑value band $158.86 – $546.33 · the $418.60 price screens above the $387.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Corpay, Inc. operates as a payments company that helps businesses and consumers to manage and pay their expenses. It operates through Corporate Payments, Vehicle Payments, Lodging Payments, and Other segments.
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The company offers vehicle payment solutions for fuel, tolls and parking, vehicle compliance, auto insurance and road assistance, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.
It also provides corporate payment solutions, such as cross-border payments, spend management solutions, AP modernization, virtual cards, and purchasing and T&E cards.
Additionally, it offers lodging payments solutions for employees who travel overnight for work purposes; traveling crews and stranded passengers from airlines and cruise lines; workforce lodging solutions for business travel programs; airline logistics, crew management, insurance, and other payments solutions.
Further, the company offers gifts and payroll cards. It serves business, merchant, consumer, and payment network customers. The company was formerly known as FLEETCOR Technologies, Inc. and changed its name to Corpay, Inc. in June 2002.
Corpay, Inc. was founded in 1986 and is headquartered in Atlanta, Georgia.
Stock analysis
Corpay Inc (CPAY) currently trades at $418.60, while our model-based Fair Value estimate is $387.92, so the stock looks roughly fairly valued today (gap 7.9%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $387.92 per share, and 3 of the 9 models we run sit above the $418.60 price.
Bear case: the Economic Profit group reads lowest at $136.06, and 6 of the 9 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $158.86 (bear) to $546.33 (bull), the price of $418.60 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 71/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Corpay Inc reported revenue of $4.5B in FY2025 versus $2.8B in FY2021, a compound +12.4%/yr. Reported net income was $1.1B in FY2025, compounding +6.2%/yr from FY2021.
Key figures
Market cap $27.8B Large · P/E ratio 25.1 · P/S ratio 5.53 · EPS (TTM) $16.69 · Net margin 22.7% · Return on equity 29.2% · Return on assets (EBIT) 9.5% · Operating margin 46.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 81 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 60% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −16% fair-value upside, at −7%, CPAY screens cheaper than that median.
Fair Value models
Bear$158.86Fair Value $387.92Bull$546.33
Price $418.60 · Downside -7.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($14.13 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 5 officers or directors sold shares worth $146.4M and none bought.
SaleRonald ClarkeCEO & Chairman of BOD, Director213,860 shares at $413.89$88.5MAug 25, 2026
SaleAlan KingGroupPresident IntlVehiclePmts3× since Aug 14, 2026: 48,013 shares, avg. $413.94$19.9MAug 21, 2026
SaleSteven T StullDirector3× since Jun 2, 2026: 8,000 shares, avg. $405.30$3.2MAug 20, 2026
SaleJoseph W FarrellyDirector5,300 shares at $410.00$2.2MAug 13, 2026
SaleArmando Lins NettoGroupPresident Brazil&USVehPmt3× since May 27, 2026: 92,237 shares, avg. $352.86$32.5MJun 15, 2026
SaleJeffrey Steven SloanDirector3,600 shares at $343.62$1.2MFeb 17, 2026
SaleAlissa B VickeryChief Accounting Officer1,701 shares at $358.65$610,071Feb 10, 2026
BuySteven T StullDirector8,000 shares at $314.98$2.5MDec 12, 2025
Plus 7 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.99/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.6%
Start year 2020 (pandemic). Over 10 years: +10.3% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+7.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.8%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.7% vs 13.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.41% → 43%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+9.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +6.9% a year for the price and +6.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The business shows strength through recurring demand for cross-border currency solutions in higher-growth segments but faces pressure from the FTC settlement in its vehicle payments business.
Main risk: Platforms such as Ramp could capture corporate customers with integrated spend management tools that offer lower costs or simpler automation, reducing demand for Corpay's virtual cards and payables solutions.
Bull case: By embedding its own AI agents and multi-rail capabilities deeper into client workflows Corpay could strengthen platform stickiness and offset competitive pressure in corporate payments.
Bear case: If competitors such as Ramp or regulatory constraints on the FX unit gain traction, Corpay might see slower adoption of its spend management tools and higher costs in its higher-growth segments.
Corpay has just extended its multi-year exclusive FX payments partnership with the World Baseball Softball Confederation. This underscores recurring demand for cross-border currency solutions in its higher-growth segments. At the same time the company faces an FTC settlement tied to its vehicle payments business. Will the rotation into corporate spend management and AI tools generate more lasting value than legacy segment pressures remove?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 342 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside−7.3% · Above median
Profitability
Return on equity (12 months)29.2% · Top 25%
Return on assets4.1% · Above median
Net margin (12 months)22.7% · Top 25%
Operating margin (12 months)46.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)21.5% · Above median
Balance sheet
Debt / equity1.71× · Highest 25%
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/E (12 months)25.1× · Pricier than median
P/B7.15× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Corpay Inc Fair Value". https://www.fairvalue-calculator.com/stock/CPAY
Frequently asked questions
Is Corpay Inc (CPAY) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $387.92 versus a price of $418.60, about 7% lower (fairly valued).
What is the fair value of CPAY?
Our model-based fair value for Corpay Inc is $387.92 (as of Nov 4, 2026), built from audited fundamentals. The current price: $418.60.
What is the quality score of CPAY?
Corpay Inc has a Quality Score of 71/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Corpay Inc (CPAY)?
Our model-based price target is the fair value of $387.92 (as of Nov 4, 2026) from 9 valuation models. Cautious scenario $158.86, optimistic scenario $546.33. It is a calculation from audited fundamentals, not an analyst target.
What is the Corpay Inc stock forecast for 2026?
Our models put fair value at $387.92, about 7% lower versus a price of $418.60 (fairly valued). Cautious scenario $158.86, optimistic scenario $546.33. The calculation is refreshed regularly with new filings.
What is the revenue of Corpay Inc (CPAY)?
Corpay Inc reported trailing-twelve-month revenue of about $5.0B (latest available figure, as of Nov 4, 2026).
What growth is priced into Corpay Inc (CPAY)?
For today's price to be fair in a discounted-cash-flow model, Corpay Inc would have to grow free cash flow by +9.5 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.7 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of CPAY use?
Our models discount Corpay Inc at 9.0 %: a base by market capitalisation (large), damped by beta 0.89, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Corpay Inc that is +9.5 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Corpay Inc (CPAY) delivered so far?
Over the past 5 years revenue at Corpay Inc grew +13.7 % a year. The price currently implies +9.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Corpay Inc (CPAY) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into Corpay Inc (+9.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Corpay Inc (CPAY)?
The free-cash-flow yield on the price is 4.68 %: that much free cash flow Corpay Inc produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Corpay Inc (CPAY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Corpay Inc it is $387.92 per share (as of Nov 4, 2026), against a price of $418.60. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Corpay Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, CPAY trades above its calculated fair value: price $418.60, fair value $387.92, a gap of about −7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CPAY?
No. The price is what the market pays today ($418.60); the fair value is what the company's own numbers justify ($387.92). For Corpay Inc the two are $30.68 per share apart. That gap is exactly why we show both numbers side by side.
How much is Corpay Inc worth?
The market values Corpay Inc at about $27.8B (market capitalisation, as of Nov 4, 2026). Per share that is $418.60; our models calculate a fair value of $387.92 per share.
What do the bullish and bearish scenarios say about CPAY?
Our models span a range for Corpay Inc: cautious scenario $158.86, base $387.92, optimistic $546.33 per share (as of Nov 4, 2026, price $418.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CPAY?
Corpay Inc trades at a price-to-earnings ratio of 25.1 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $387.92 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 4 of the years ex one-offs: 25.5. Other multiples: PEG 0.8, P/B 7.2, P/S 5.5, EV/EBITDA 9.1.
What is the PEG ratio of CPAY?
The PEG ratio of Corpay Inc is 0.75 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Corpay Inc (CPAY)?
Balance-sheet figures for Corpay Inc (as of Nov 4, 2026): return on equity 29.2%, debt of 1.71 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is CPAY from its 52-week high?
Corpay Inc trades at $418.60, about 2% below its 52-week high of $425.24 and 60% above the low of $261.17 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $387.92 is for.
Which stocks are comparable to Corpay Inc?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Corpay Inc stock attractive at the current price?
The data as of Nov 4, 2026: price $418.60, calculated fair value $387.92 (−7%), Quality Score 71/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CPAY calculated?
We run Corpay Inc through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $387.92, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.6% above its aggregate fair value. Corpay Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Corpay Inc (CPAY)?
The closing price on Nov 4, 2026 was $418.60. Our model-based fair value is $387.92, about 7% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Corpay Inc right now?
The model range is unusually wide ($158.86 to $546.33). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Where does the earnings growth of Corpay Inc (CPAY) come from?
Earnings per share at Corpay Inc grew +14.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.2 %, EBIT margin +0.5 %, tax rate +0.3 %, residual (interest, one-offs) −0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Corpay Inc
How large is the market capitalisation of Corpay Inc (CPAY)?
The market capitalisation of Corpay Inc is $27.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Corpay Inc (CPAY)?
The price-to-sales ratio of Corpay Inc is 5.53 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Corpay Inc (CPAY)?
Earnings per share at Corpay Inc are $16.69 (price ÷ EPS = P/E 25.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Corpay Inc (CPAY)?
The net margin of Corpay Inc is 22.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Corpay Inc (CPAY)?
The return on equity (ROE) of Corpay Inc is 29.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Corpay Inc (CPAY)?
On an EBIT basis the return on assets of Corpay Inc is 9.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Corpay Inc (CPAY)?
The operating margin of Corpay Inc is 46.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Corpay Inc (CPAY)?
Revenue at Corpay Inc is growing +21.5% versus a year earlier (3y avg +9.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Corpay Inc (CPAY)?
Earnings per share at Corpay Inc are growing −7.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Corpay Inc (CPAY) carry?
The net debt of Corpay Inc is $1.1B (fiscal year 2025, ≈ 0.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 4, 2026