CORPAY, INC（CPAY）の決算・業績分析
CORPAY, INCの2025年有価証券報告書をAI分析。売上高$4.5B(+13.9%)。営業利益$2.0B。Industrials。
目次
CORPAY, INCの2025年度 業績サマリー
CORPAY, INC（証券コード: CPAY）の2025年度決算・業績分析。売上高は$4.5B（前年比+13.9%）。営業利益は$2.0B（前年比+11.6%）。純利益は$1.1B（前年比+6.6%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
CORPAY, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue surged to $3.4B (+20.9% YoY) with EBITDA margin at 51.6% (XBRL).
- Net debt to EBITDA ratio stands at 3.0x (XBRL), reflecting high leverage despite strong cash reserves ($1.4B).
- Share repurchases totaled $1.4B (XBRL), underscoring aggressive capital return strategy.
- Operating margin expanded to 42.2% (XBRL), outpacing net margin of 27.9%.
CORPAY, INCの売上高変化の要因
- •Revenue grew 20.9% YoY to $3.4B (XBRL), driven by expansion in corporate and lodging payment segments. Historical growth shows a 5-year CAGR of 9.1% (XBRL). While segment-specific revenue data is not disclosed (N/A), product diversification across vehicle, corporate, and lodging payments likely contributed to growth. FY2024 revenue ($3.4B) marks a 21.4% increase from FY2023 ($2.8B) (XBRL).
CORPAY, INCの営業利益変化の要因
- •Operating income rose 16.4% YoY to $1.4B (XBRL), with EBITDA at $1.8B (51.6% margin). Net income grew 13.7% YoY to $954M (XBRL). Operating margin improved to 42.2% (XBRL), while net margin remained at 27.9%. Historical data shows operating income grew from $1.1B (FY2020) to $1.4B (FY2024) (XBRL).
CORPAY, INCの事業リスクと対応
IT/Security risks: Complex systems expose CORPAY to cyberattacks and data breaches (10-K).
System outages: Natural disasters or third-party failures could disrupt services (10-K).
Software defects: Undetected errors may harm operations and customer trust (10-K).
Cybersecurity threats: Evolving risks could cause data loss or reputational damage (10-K).
Third-party dependencies: Reliance on external technologies increases exposure to failures (10-K).
Regulatory risks: Compliance with data protection and cybersecurity laws is a challenge (10-K).
CORPAY, INCの事業内容
Corpay, Inc. (CPAY) operates as a global corporate payments platform, generating revenue through recurring business customer transactions (10-K). Core offerings include Vehicle Payments (fueling, tolls), Corporate Payments (AP automation, virtual cards), Lodging Payments (hotel management), and other services. The business model relies on predictable transaction volumes from enterprise clients, with no significant customer concentration (10-K). Competitive advantages include proprietary payment networks, high EBITDA margins, and specialized technology platforms (10-K).
CORPAY, INCのAI業績分析レポート（2024年度）
Corpay, Inc. (CPAY) FY2024 Annual Report Analysis
Highlights
Business Overview
Corpay operates as a global corporate payments platform, generating revenue through recurring business customer transactions (10-K). Core offerings include Vehicle Payments (fueling, tolls), Corporate Payments (AP automation, virtual cards), Lodging Payments (hotel management), and other services. The business model relies on predictable transaction volumes from enterprise clients, with no significant customer concentration (10-K). Competitive advantages include proprietary payment networks, high EBITDA margins, and specialized technology platforms (10-K).
Revenue Analysis
Revenue grew 20.9% YoY to $3.4B (XBRL), driven by expansion in corporate and lodging payment segments. Historical growth shows a 5-year CAGR of 9.1% (XBRL). While segment-specific revenue data is not disclosed (N/A), product diversification across vehicle, corporate, and lodging payments likely contributed to growth. FY2024 revenue ($3.4B) marks a 21.4% increase from FY2023 ($2.8B) (XBRL).
Profitability Analysis
Operating income rose 16.4% YoY to $1.4B (XBRL), with EBITDA at $1.8B (51.6% margin). Net income grew 13.7% YoY to $954M (XBRL). Operating margin improved to 42.2% (XBRL), while net margin remained at 27.9%. Historical data shows operating income grew from $1.1B (FY2020) to $1.4B (FY2024) (XBRL).
Balance Sheet Analysis
Total assets increased to $15.5B (XBRL), with cash reserves at $1.4B. Long-term debt rose to $6.7B (XBRL), resulting in a net debt of $5.3B (3.0x EBITDA) (XBRL). Equity ratio declined to 21.2% (XBRL), while current ratio remained stable at 1.04x (XBRL). Total equity decreased from $3.7B (FY2020) to $3.3B (FY2024) (XBRL).
Cash Flow Analysis
Operating cash flow totaled $755M (XBRL), with free cash flow of $603M after $151M in CapEx (XBRL). Investing cash flow was -$368M (XBRL), while financing cash flow was -$311M (XBRL), driven by $1.4B in share repurchases (XBRL). CapEx intensity remained at 4.4% (XBRL), with CapEx/D&A ratio at 0.47x (XBRL).
Working Capital Analysis
Receivables days increased to 230 days (XBRL), while payables days stood at 173 days (XBRL). Asset turnover remained low at 0.22x (XBRL). Inventory days data is not available (N/A), preventing calculation of cash conversion cycle (CCC).
Risks
Outlook
N/A (No management guidance or forward-looking trends explicitly mentioned in 10-K or XBRL data).
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