CPAYMEDIUM SIGNALFINANCIAL10-K

Corpay's balance sheet expanded substantially with both current assets and liabilities growing by approximately 60%, while operating cash flow declined and share buybacks were reduced.

The substantial expansion in both current assets and liabilities suggests significant business growth or potential changes in working capital management, which investors should monitor for sustainability. The decline in operating cash flow despite revenue growth, combined with reduced share buybacks, may indicate management is preserving cash for strategic initiatives or managing through operational challenges.

Comparing 2026-02-27 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

Corpay demonstrated solid revenue growth of 14% and operating income expansion of 12%, indicating healthy operational performance. However, the company experienced meaningfully expanded current assets and liabilities, along with a 23% decline in operating cash flow and nearly 40% reduction in share buybacks. The overall picture suggests a company in growth mode but potentially managing cash flow pressures or investing heavily in working capital to support expansion.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+64.2%
$8.7B→$14.3B

Current liabilities surged 64.2% — significant near-term obligations; verify ability to meet short-term debt.

Current Assets
Balance Sheet
+60.9%
$8.7B→$14.0B

Current assets grew 60.9% — improving short-term liquidity or inventory/receivables build.

Cash & Equivalents
Balance Sheet
+55%
$1.6B→$2.4B

Cash position surged 55% — strong cash generation or capital raise providing significant financial cushion.

Total Assets
Balance Sheet
+47.1%
$18.0B→$26.4B

Asset base grew 47.1% — expansion through organic growth, acquisitions, or capital deployment.

Share Buybacks
Cash Flow
-39.2%
$1.3B→$782.8M

Buyback activity reduced 39.2% — capital being redeployed elsewhere or cash conservation underway.

Total Debt
Balance Sheet
+25.1%
$8.0B→$10.0B

Debt rose 25.1% — additional borrowing for investment or operations; monitor coverage ratios.

Stockholders Equity
Balance Sheet
+24.4%
$3.1B→$3.9B

Equity base grew 24.4% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Operating Cash Flow
Cash Flow
-22.7%
$1.9B→$1.5B

Operating cash flow softened — monitor whether temporary working capital timing or structural deterioration.

Revenue
P&L
+13.9%
$4.0B→$4.5B

Revenue growing 13.9% — solid top-line momentum, watch margins for quality of growth.

Operating Income
P&L
+11.6%
$1.8B→$2.0B

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-27
ADDED
(Exact name of registrant as specified in its charter) __________________________________________________________ Delaware 72-1074903 (State or other jurisdiction of incorporation or organization) (I.R.S.
As of February 17, 2026 , there were 68,050,296 shares of common stock outstanding.
Forward-looking statements can be identified by the use of words such as anticipate, intend, believe, estimate, plan, seek, project, expect, may, will, would, could or should, the negative of these terms or other comparable terminology and similar expressions.
We have based these forward-looking statements on preliminary information, internal estimates and management's assumptions, expectations and plans about future conditions, events and results.
(the "Company") is a global corporate payments company that helps businesses and consumers better manage and pay their expenses in a simple, controlled manner.
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REMOVED
__________________________________________________________ Delaware 72-1074903 (State or other jurisdiction of incorporation or organization) (I.R.S.
The aggregate market value of the registrant s common stock held by non-affiliates of the registrant was appr oximately $ 17,904,831,658 as of June 30, 2024 , the last business day of the registrant s most recently completed second fiscal quarter, based on the closing sale price as reported on the New York Stock Exchange.
As of February 17, 2025 , there were 70,249,923 shares of common stock outstanding.
Forward-looking statements can be identified by the use of words such as anticipate, intend, believe, estimate, plan, seek, project or expect, may, will, would, could or should, the negative of these terms or other comparable terminology.
We have based these forward-looking statements largely on our current expectations and projections about future events.
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