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Corpay CPAY Debt-to-equity

Debt-to-equity at other companies

American Express logo
American ExpressAXP
1.8×+0.1×
U.S. Bancorp logo
U.S. BancorpUSB
1.2×-0.1×
Fidelity National Information Services logo
Fidelity National Information ServicesFIS
1.3×+0.7×
Affirm Holdings, Inc. logo
Affirm Holdings, Inc.AFRM
2.5×-0.3×
Global Payments logo
Global PaymentsGPN
0.9×+0.2×
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
0.5×-0.1×

Other financials

Income statement

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Revenue$1.3B+25.4%
Operating income$636.2M+48.9%
Net income$350.1M+43.9%
EPS (diluted)$5.07+49.1%

Balance sheet

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Cash & equivalents$2.5B+63.2%
Total debt$10.4B+26.8%
Total equity$3.5B+1.6%
Total assets$26.7B+43.8%

Cash flow

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Operating cash flow-$56.6M+23.6%
CapEx$51.1M+14.1%
Free cash flow-$107.7M+9.4%

Valuation

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Market cap$23.09B-19.2%
Enterprise value$30.92B-11.2%
P/E19.6×-8.5×
P/S4.8×-2.2×

Profitability

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Operating margin46.1%+1.1pp
Net margin24.6%-0.6pp

Returns & leverage

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Return on equity33.8%+3.5pp
Current ratio-0.1×

Where this comes from

Calculated from Corpay’s reported figures.

Based on the most recent quarter.

The official record: Corpay’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Corpay's debt-to-equity?
Corpay (CPAY) reported debt-to-equity of 3× in Q1 2026.
How has Corpay's debt-to-equity changed year-over-year?
Corpay's debt-to-equity increased by 24.8% year-over-year, from 2.4× to 3×.
What is the long-term trend for Corpay's debt-to-equity?
Over 4 years (2021 to 2025), Corpay's debt-to-equity has grown at a 7.7% compound annual growth rate (CAGR), from 6.7× to 9×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.