Corpay (CPAY) FY2019 results: revenue $2.6 billion, up 8.8% on the year
Corpay, Inc. (CPAY) reported revenue of $2.6 billion for fiscal 2019, the year ended 31 December 2019, up 8.8% on the year before. Net income was $895 million, up 10.3%, and diluted earnings per share $9.94. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$2.6 billion
+8.8% on the year
FY2012FY2019
Operating margin
46.5%
44.8% a year earlier
FY2012FY2019
Net income
$895 million
+10.3% on the year
FY2012FY2019
Diluted EPS
$9.94
+12.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,649
2,433
2,250
+8.8%
Cost of revenue
n/a
n/a
96.8
Gross profit
n/a
n/a
2,153
Gross margin
n/a
n/a
95.7%
Operating income
1,231
1,091
884
+12.9%
Operating margin
46.5%
44.8%
39.3%
Pre-tax income
1,078
1,095
894
-1.6%
Income tax
183
284
153
-35.6%
Effective tax rate
17.0%
25.9%
17.2%
Net income
895
811
740
+10.3%
Net margin
33.8%
33.3%
32.9%
Diluted EPS
$9.94
$8.81
$7.91
+12.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,162
903
680
+28.6%
Capital expenditure
75.2
81.4
70.1
-7.6%
Free cash flow
1,087
822
610
+32.2%
Free cash flow margin
41.0%
33.8%
27.1%
Cash from investing
-524
-26.3
-498
Cash from financing
-310
-578
252
Depreciation and amortisation
274
275
265
-0.1%
Share-based compensation
61.0
69.9
93.3
-12.8%
Buybacks
695
959
402
-27.5%
Diluted shares, weighted
90m
92m
94m
-2.3%
Shares outstanding at period end
85m
86m
90m
-0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,712
3,340
3,677
+11.1%
Debt
5,037
4,819
4,519
+4.5%
Operating lease liabilities
81.7
n/a
n/a
Other liabilities
3,418
3,043
3,123
+12.3%
Total liabilities and equity
12,249
11,202
11,318
+9.3%
Fixed assets
200
186
180
+7.3%
Goodwill
4,833
4,542
4,716
+6.4%
Intangible assets
2,342
2,408
2,725
-2.7%
Cash and equivalents
1,271
1,031
914
+23.3%
Receivables
1,569
1,426
1,420
+10.0%
Other assets
2,033
1,609
1,364
+26.3%
Total assets
12,249
11,202
11,318
+9.3%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.