Corpay (CPAY) FY2017 results: revenue $2.2 billion, up 22.8% on the year
Corpay, Inc. (CPAY) reported revenue of $2.2 billion for fiscal 2017, the year ended 31 December 2017, up 22.8% on the year before. Net income was $740 million, up 63.6%, and diluted earnings per share $7.91. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$2.2 billion
+22.8% on the year
FY2010FY2017
Operating margin
39.3%
41.2% a year earlier
FY2010FY2017
Net income
$740 million
+63.6% on the year
FY2010FY2017
Diluted EPS
$7.91
+66.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,250
1,832
1,703
+22.8%
Cost of revenue
96.8
91.6
84.1
+5.7%
Gross profit
2,153
1,740
1,619
+23.7%
Gross margin
95.7%
95.0%
95.1%
Operating income
884
754
668
+17.2%
Operating margin
39.3%
41.2%
39.2%
Pre-tax income
894
643
536
+39.0%
Income tax
153
191
174
-19.5%
Effective tax rate
17.2%
29.6%
32.4%
Net income
740
452
362
+63.6%
Net margin
32.9%
24.7%
21.3%
Diluted EPS
$7.91
$4.75
$3.85
+66.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
680
708
755
-4.0%
Capital expenditure
70.1
59.0
41.9
+18.8%
Free cash flow
610
649
713
-6.0%
Free cash flow margin
27.1%
35.4%
41.9%
Cash from investing
-498
-1,390
-99.4
Cash from financing
252
754
-648
-66.6%
Depreciation and amortisation
265
203
193
+30.2%
Share-based compensation
93.3
63.9
90.1
+45.9%
Buybacks
402
188
0.0
+114.4%
Diluted shares, weighted
94m
95m
94m
-1.7%
Shares outstanding at period end
90m
92m
92m
-2.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,677
3,084
2,830
+19.2%
Debt
4,519
3,858
2,935
+17.1%
Other liabilities
3,123
2,684
2,127
+16.3%
Total liabilities and equity
11,318
9,627
7,892
+17.6%
Fixed assets
180
143
80.8
+26.4%
Goodwill
4,716
4,195
3,546
+12.4%
Intangible assets
2,725
2,653
2,184
+2.7%
Cash and equivalents
914
475
447
+92.3%
Receivables
1,420
1,202
639
+18.1%
Other assets
1,364
959
995
+42.2%
Total assets
11,318
9,627
7,892
+17.6%
10-K for the year ended 31 December 2017, filed 1 March 2019: the filing.