Corpay vs Global Payments
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KIRA’s take AI analyst
I put Corpay and Global Payments side by side, using each one’s latest annual report. Here is what stands out:
- Global Payments is the larger business, with $7.7B of revenue in fiscal 2025 against $4.5B for Corpay, about 1.7 times as much.
- Corpay grew revenue faster (13.9%, against −0.4%).
- Corpay kept more of each dollar of sales as operating profit (44.0% operating margin, against 22.8%).
- Corpay turned more of its sales into free cash flow (28.7% FCF margin, against 26.5%).
- Corpay earned a higher return on the capital invested in it (11.5%, against 3.8%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Corpay
CPAY
8/10
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
Global Payments
GPN
2/10
Piotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | CPAY FY25 | GPN FY25 |
|---|---|---|
| Size | ||
| Market cap | $26.5B | $22.1B |
| Revenue | $4.5B | $7.7B |
| Free cash flow | $1.3B | $2.0B |
| Net income | $1.1B | $1.4B |
| Growth | ||
| Revenue growth | 13.9% | −0.4% |
| 5-year growth | 13.6% | 0.8% |
| Share count change | −1.1% | −5.0% |
| Profitability | ||
| Gross margin | — | 72.6% |
| Operating margin | 44.0% | 22.8% |
| Net margin | 23.6% | 18.2% |
| FCF margin | 28.7% | 26.5% |
| Return on capital | 11.5% | 3.8% |
| Return on equity | 30.5% | 6.2% |
| Balance sheet | ||
| Net debt | $9.1B | $13.2B |
| Net debt / EBITDA | 3.8x | 4.4x |
| Dividends and buybacks | $783M | $1.4B |
| Valuation & quality | ||
| P/E | 24.3x | — |
| Piotroski F-score | 5 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.