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Corpay Business Segments

Business, geographic, and product segment breakdowns

Corpay generates $4.8B in annual revenue across 4 key segments: Corporate Payments ($1.1B), Lodging Payments ($111.0M), Other ($258.7M), and Vehicle Payments ($563.9M). The company-wide operating margin is 46.06%. Based on the Q1 2026 filing.

Corporate Payments (TTM)$1.1BLodging Payments$111.0MOther (TTM)$258.7MVehicle Payments$563.9M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$22.9B
P/E Ratio19.49
ROE33.79%

Products & Services

Concentration risk, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Contracts with Customers—86.0%———79.0%
Vehicle Payments—47.0%48.0%47.0%—45.0%
Corporate Payments—34.0%36.0%35.0%—40.0%
Derivatives, Cross-Border Payments Business—7.0%1.0%1.0%—15.0%
Lodging Payments—11.0%11.0%11.0%—9.0%
Float Revenue Earned On Invested Funds—3.0%———3.0%
Late Fees and Finance Charges—4.0%———3.0%

Revenues, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments$497.7M$474.3M$525.5M$553.2M$572.9M$563.9M
Corporate Payments$346.2M$345.1M$391.9M$409.7M$480.8M$503.9M
Lodging Payments$120.9M$110.2M$119.8M$127M$112.5M$111M

Geographic

Concentration risk, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Countries—19.0%22.0%22.0%—24.0%
Fleet2.5%2.5%2.5%2.5%2.5%—

Revenues, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Countries—$189.9M$242.2M$255.9M—$301.5M

Business Segments

Acquisition Accounting Adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$264.5K$429.3K$429.3K$429.3K$429.3K—
Lodging Payments$0$0$0$0$0—
Other$0$0$0$0$0—
Vehicle Payments$0$14.5K$14.5K$14.5K$14.5K—

Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$19.5M$23.8M$23.1M$22.6M$42.1M$43.9M
Vehicle Payments$32.1M$30.4M$28.8M$28.9M$26.8M$28.2M
Lodging Payments$9.1M$9.1M$9.2M$8.4M$7M$6.9M
Other$508K$502K$507K$508K$506K$509K

CapEx

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments$29.3M$30.7M$34.9M$31.4M$32.5M$30M
Corporate Payments$8.6M$7.6M$10.1M$12.2M$11M$11M
Lodging Payments$5.2M$4.7M$5.1M$5.3M$6.9M$8M
Other$1.1M$1.8M$2.5M$2M$2.1M$2.1M

Depreciation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments—$16.5M$17.2M$19.3M—$19.4M
Corporate Payments—$5.9M$7.5M$7.9M—$9.4M
Lodging Payments—$3.7M$3.8M$4.2M—$4.4M
Other—$2.3M$1.3M$1.4M—$2.2M

Foreign Currency

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments-$6.4M$17.1M$17.1M$17.1M$17.1M—
Lodging Payments-$878.5K$1.6M$1.6M$1.6M$1.6M—
Other-$365K$243K$243K$243K$243K—
Vehicle Payments-$48.2M$41.7M$41.7M$41.7M$41.7M—

Gain (loss) on disposition of business

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$0$0$0$0$0—
Lodging Payments$0$0$0$0$0—
Other$0$0$0$0$0—
Vehicle Payments$30.3M$10.6M$10.6M$10.6M$10.6M—

G&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$55M$55.9M$66.1M$65.6M$100.7M$89.4M
Vehicle Payments$75.6M$72M$82.5M$81.9M$91.1M$83.7M
Lodging Payments$17.9M$16.7M$18.6M$18.5M$17.1M$17.2M
Other$9.7M$12.4M$9.8M$12.6M$11.6M$13.5M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$2.7B———$4B—
Lodging Payments$413.4M———$419.7M—
Other$257.8M———$258.8M—
Vehicle Payments$2.6B———$2.9B—

Goodwill, Impairment Loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$0$0$0$0$0—
Lodging Payments$0$0$0$0$0—
Other$22.5M$0$0$0$0—
Vehicle Payments$0$0$0$0$0—

Goodwill, Written off Related to Sale of Business Unit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$0$0$0$0$0—
Lodging Payments$0$0$0$0$0—
Other$0$0$0$0$0—
Vehicle Payments$14.6M$0$0$0$0—

Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments$364.8M$222.8M$250.1M$265.7M$336M$382.8M
Corporate Payments$136.3M$129.8M$161.2M$177.5M$171.3M$179.1M
Lodging Payments$54.2M$43M$49.6M$57.1M$45M$42.8M
Other-$67M$31.5M$18.5M$22.8M$12.1M$31.5M

Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments—$222.8M$250.1M$265.7M—$382.8M
Corporate Payments—$129.8M$161.2M$177.5M—$179.1M
Lodging Payments—$43M$49.6M$57.1M—$42.8M
Other—$31.5M$18.5M$22.8M—$31.5M

Other Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments—$5K-$2K-$11.2M—-$6.9M
Corporate Payments-$510K$0$0-$6K-$166K-$301K
Lodging Payments—$0$0-$3K-$2K-$73K
Other-$3K$0$0-$2K-$1K-$48K

Processing

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments$85.8M$87.2M$98.9M$95M$99.1M$106.7M
Corporate Payments$79.2M$78.9M$77.5M$79.2M$88.6M$105M
Lodging Payments$30.5M$30M$30.5M$31.1M$32.1M$30.6M
Other$33.3M$25.8M$31.6M$43.4M$40.2M$29.8M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments—$474.3M$525.5M$553.2M—$563.9M
Corporate Payments—$345.1M$391.9M$409.7M—$503.9M
Lodging Payments—$110.2M$119.8M$127M—$111M
Other—$76M$64.8M$82.6M—$82.2M

Selling

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Payments$47.3M$50.8M$56.5M$56.9M$75.3M$76.8M
Vehicle Payments$43.3M$45.5M$47.9M$51.1M$53.1M$57.7M
Lodging Payments$5.5M$7.7M$8.2M$7.7M$7.3M$9M
Other$1.4M$3.5M$3.2M$1.9M$2.3M$4.7M

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Lodging Payments$0$0$0$0$0—
Other$0$0$0$0$0—

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Payments$17.3M$16.5M$17.2M$19.3M$26.2M$19.4M
Lodging Payments$3.7M$3.7M$3.8M$4.2M$4.2M$4.4M