Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Corpay's Q2 FY2026 results were marked by strong top-line growth driven by the Corporate Payments segment and contributions from recent acquisitions, though profitability was impacted by a $100 million contingent loss related to an FTC legal matter and higher integration costs. Organic revenue growth reached 10%, with acquisitions adding 7%, while favorable macroeconomic factors provided a further tailwind. However, operating income declined 1.5% year-over-year due to the FTC charge and increased expenses, and net income attributable to Corpay fell 12.6%. The company continued to execute on its M&A strategy, completing the sale of PayByPhone and announcing the planned divestiture of its Maintenance business, while integrating Alpha Group International and AvidXchange.
Revenue
$1.34B
+21.49% YoY
EPS (Diluted)
$3.70
-7.04% YoY
Operating Income
$472.27M
-1.48% YoY
Source: SEC XBRL
Corpay (CPAY) reported Q2 FY2026 revenue of $1.34B, up 21.5% year over year. Operating margin was 35.3%, down 8.2 points from 43.5% a year earlier. CPAY's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 7.00 | 6.71 | Beat +4.4% |
| Mar 2026 | 5.80 | 5.58 | Beat +3.9% |
| Dec 2025 | 6.04 | 6.06 | Miss -0.4% |
| Sep 2025 | 5.70 | 5.75 | Miss -1.0% |
Adjusted (non-GAAP) EPS of $7.00 versus the $6.71 analyst consensus — a +4.4% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $3.70.
4 reported segments · SEC XBRL
Segment revenue totals $1.34B, which is the $1.34B of consolidated revenue on the income statement. The profit column adds up to the consolidated figure as well.
Profit above is reported as operating income, the measure CPAY itself discloses in this filing. Each company chooses its own measure here, so these margins are not comparable with another company's.
Compiled by AI from 10-Q Item 2 of this filing
During Q1 2026, the company refined its segment composition, realigning outsourced card processing to Other and moving enterprise spend management clients to Corporate Payments, with prior periods recast to conform.
Source: 10-Q Item 2 MD&A
Other operating expenses of $99.9 million were recorded in Q2 2026, primarily due to a $100 million contingent loss related to an FTC legal matter, significantly reducing operating income.
Source: 10-Q Item 2 MD&A
The March 2026 sale of PayByPhone generated a pre-tax net gain of $122.9 million over the six months, while in June 2026, the company agreed to sell its Maintenance business for approximately €600 million (~$800 million), expected to close in H2 2026 pending regulatory approval.
Source: 10-Q Item 2 MD&A
Pro forma and macro-adjusted organic revenue growth was 10% for consolidated Corpay, with Corporate Payments growing 16% organically, Vehicle Payments 8%, and Lodging Payments 2%.
Source: 10-Q Item 2 MD&A
Adjusted EBITDA margin improved 1.0 percentage point year-over-year to 57.3%, reflecting operating leverage despite integration costs.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Long-term debt of $10.6 billion and total equity of $3.5 billion result in a debt-to-equity ratio of 3.0x, reflecting substantial acquisition-related borrowing. This leverage heightens refinancing risk and sensitivity to rising interest rates.
Source: 10-Q Balance Sheet (XBRL)
The acquisitions of Alpha Group International and AvidXchange add significant integration complexity; failure to realize expected synergies or manage cultural differences could disrupt operations and strain financial resources.
Source: 10-Q Balance Sheet (XBRL)
Approximately 56% of revenues are non-USD, and results are sensitive to foreign currency fluctuations, fuel prices, and fuel price spreads. A reversal of favorable macroeconomic trends could materially impact revenue and earnings.
Source: 10-Q Income Statement (XBRL)
Total assets grew to $28.2 billion primarily from acquisitions, with goodwill and intangibles likely constituting a large portion. Any future impairment could significantly reduce net income and equity.
Source: 10-Q Balance Sheet (XBRL)
The FTC legal matter resulted in a $100 million charge in Q2 2026, and other regulatory actions or litigation could lead to additional fines, penalties, or operational restrictions.
Source: 10-Q Income Statement (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 1.34 $B | 1.10 $B | +21.49% |
Operating Income $M | 472.27 $M | 479.39 $M | -1.48% |
Net Income $M | 248.31 $M | 284.17 $M | -12.62% |
EPS (Basic) $ | 3.75 $ | 4.03 $ | -6.95% |
EPS (Diluted) $ | 3.70 $ | 3.98 $ | -7.04% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
CPAY delivered a strong Q1 2026 with revenue surging 25.4% YoY to $1.26B and operating income jumping 48.9% to $636M, driven by significant margin expansion, though operating cash flow remained slightly negative and the current ratio dipped below 1.0x.
CPAY delivered strong FY2025 revenue growth of 13.9% to $4.53B, with operating income rising 11.6% to $1.99B, though operating cash flow declined 22.7% and a significant balance sheet expansion (+47.1% total assets) reflects major acquisition activity.
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