CPAY
Corpay, Inc.Evidence as of 2026-09-29The desk's Snapshot
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Overview · Corpay, Inc.
Corpay, Inc. operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and…
Management team
- Mr. Dan Csont · Chief Marketing OfficerFind on LinkedIn
- Mr. Steve C. Greene · Executive Vice President of Corporate Development & StrategyFind on LinkedIn
- Mr. Daniel S. Fishbein · General CounselFind on LinkedIn
- Mr. James P. Eglseder · Head of Investor RelationsFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The surviving evidence supports a cautious read: revenues rose from USD 1,260,987,000 in fiscal Q1 2026 (fiscal quarter ended 2026-05-01) to USD 1,338,809,000 in fiscal Q2 2026 (fiscal quarter ended 2026-07-31), while operating income fell from USD 636,165,000 to USD 472,274,000 over the same two quarters, implying an operating margin moving from roughly 50.5% to roughly 35.3%. Net income was roughly flat in absolute terms (USD 243,233,000 in fiscal Q1 2026 and USD 248,307,000 in fiscal Q2 2026) even as diluted EPS moved from USD 5.07 to USD 3.70 per share, and weighted-average diluted shares declined to 66,325,000 in fiscal Q2 2026.
The filings and valuation signals add texture: trailing twelve‑month FCF is USD 923,285,000 (P/FCF 28.46) and the market-implied FCF growth embedded in today’s price is 17.8%, while EV/EBITDA is 13.24 with implied net debt of roughly USD 7.46 billion (USD 3,163,539,000 cash and USD 10,623,531,000 long‑term debt). Institutional ownership reported USD 20.74B in positions as of 2026-06-30, and risk‑factor updates emphasize operational‑resilience, AI, crypto/stablecoin, and regulatory exposures.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenues increased quarter-to-quarter from USD 1,260,987,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) to USD 1,338,809,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0001175454-26-000050Operating income declined from USD 636,165,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) to USD 472,274,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo), while revenues rose over the same two quarters, implying an operating margin of approximately 50.5% in fiscal Q1 2026 versus approximately 35.3% in fiscal Q2 2026 (operating income / revenues).
XBRL companyfacts · 0001175454-26-000032Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 10-K filed 27 February 2026 states that at December 31, 2025 the company had approximately $10.0 billion of debt outstanding under its Credit Facility and Securitization arrangements.
10-K filed 2026-02-27The risk-factor diff shows newly added or materially reworded disclosures emphasizing operational-resilience and outage risks, including system outages, technology failures, capacity constraints, and increased notification and regulatory obligations related to operational incidents.
10-K filed 2026-02-27Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
No computed signal history for this symbol yet — signals need roughly 70 trading days of price history.
Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional holders reported a total position value of $20.74B as of 2026-06-30 (13F data carries a reporting lag).
13F holdings · 739 filers · as of 2026-06-30Top reported institutional holders include BlackRock, Inc. ($1.90B), Orbis Allan Gray Ltd ($1.80B), JPMORGAN CHASE & CO ($1.60B), VANGUARD CAPITAL MANAGEMENT LLC ($1.39B), and FMR LLC ($1.11B) in the 13F for the period ended 2026-06-30.
13F holdings · 739 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple headlines note Corpay's rollout of new AI agents expanding the Corpay Complete platform to automate spend analysis, transaction coding, virtual card creation, and voice-driven expense handling.
News · simplywall.st · 2026-09-27A separately timed headline covers the same AI-agent expansion and frames it in terms of its importance for investors and automation/visibility in corporate, fleet, and vendor payments.
News · simplywall.st · 2026-09-25Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The market-implied free cash flow (FCF) growth rate today's price would justify is 17.8% under the model's stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve‑month FCF is $923,285,000 and FCF per share is $13.9206, with price-to-FCF equal to 28.46.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several claims jointly support a favorable read: revenues rose quarter-to-quarter while net income was roughly stable, and weighted-average diluted shares declined materially over the same interval, which together imply earnings resilience on a per-share basis despite operating-income volatility. Institutional reported positions and a large, concentrated set of blue‑chip holders increased substantially quarter-over-quarter, consistent with rising investor demand for the security. Multiple news items document a company-driven rollout of AI agents expanding product functionality, supporting the narrative that recent revenue momentum has operational catalysts. Trailing earnings and free-cash-flow metrics (EPS $16.66, FCF per share $13.92, P/FCF 28.46, EV/EBITDA 13.24) show sizable absolute cash generation that underpins the equity’s valuation profile.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.37
31 surviving claims rest on 13 distinct sources; the heaviest analyst carries 26% of them, and 98% of what the desk raised survived the debate.
The surviving read is moderately fragile: 31 claims rely on 13 sources, so a few source changes could move key points, and one analyst contributes a significant share of claims which raises sensitivity to that analyst's inputs. The high survival rate from the desk's debate means the claims were durable internally, but source-concentration and analyst-dependence imply the overall read should be weighted cautiously as corroboration arrives from additional, independent filings or third‑party data.
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
13 filings· 3 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.3 to the score
4 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.9 to the score
2 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.6 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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Institutional holders
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