Corpay (CPAY) FY2018 results: revenue $2.4 billion, up 8.2% on the year
Corpay, Inc. (CPAY) reported revenue of $2.4 billion for fiscal 2018, the year ended 31 December 2018, up 8.2% on the year before. Net income was $811 million, up 9.6%, and diluted earnings per share $8.81. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$2.4 billion
+8.2% on the year
FY2011FY2018
Operating margin
44.8%
39.3% a year earlier
FY2011FY2018
Net income
$811 million
+9.6% on the year
FY2011FY2018
Diluted EPS
$8.81
+11.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,433
2,250
1,832
+8.2%
Cost of revenue
n/a
96.8
91.6
Gross profit
n/a
2,153
1,740
Gross margin
n/a
95.7%
95.0%
Operating income
1,091
884
754
+23.4%
Operating margin
44.8%
39.3%
41.2%
Pre-tax income
1,095
894
643
+22.6%
Income tax
284
153
191
+84.9%
Effective tax rate
25.9%
17.2%
29.6%
Net income
811
740
452
+9.6%
Net margin
33.3%
32.9%
24.7%
Diluted EPS
$8.81
$7.91
$4.75
+11.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
903
680
708
+32.8%
Capital expenditure
81.4
70.1
59.0
+16.1%
Free cash flow
822
610
649
+34.8%
Free cash flow margin
33.8%
27.1%
35.4%
Cash from investing
-26.3
-498
-1,390
Cash from financing
-578
252
754
Depreciation and amortisation
275
265
203
+3.8%
Share-based compensation
69.9
93.3
63.9
-25.0%
Buybacks
959
402
188
+138.2%
Diluted shares, weighted
92m
94m
95m
-1.5%
Shares outstanding at period end
86m
90m
92m
-4.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,340
3,677
3,084
-9.1%
Debt
4,819
4,519
3,858
+6.6%
Other liabilities
3,043
3,123
2,684
-2.6%
Total liabilities and equity
11,202
11,318
9,627
-1.0%
Fixed assets
186
180
143
+3.4%
Goodwill
4,542
4,716
4,195
-3.7%
Intangible assets
2,408
2,725
2,653
-11.6%
Cash and equivalents
1,031
914
475
+12.9%
Receivables
1,426
1,420
1,202
+0.4%
Other assets
1,609
1,364
959
+18.0%
Total assets
11,202
11,318
9,627
-1.0%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.