Corpay (CPAY) FY2023 results: revenue $3.8 billion, up 9.6% on the year
Corpay, Inc. (CPAY) reported revenue of $3.8 billion for fiscal 2023, the year ended 31 December 2023, up 9.6% on the year before. Net income was $982 million, up 2.9%, and diluted earnings per share $13.20. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$3.8 billion
+9.6% on the year
FY2016FY2023
Operating margin
44.1%
42.2% a year earlier
FY2016FY2023
Net income
$982 million
+2.9% on the year
FY2016FY2023
Diluted EPS
$13.20
+6.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,101
755
1,197
+178.4%
Capital expenditure
154
151
112
+1.6%
Free cash flow
1,947
603
1,086
+222.7%
Free cash flow margin
51.8%
17.6%
38.3%
Cash from investing
-381
-368
-716
Cash from financing
-898
-311
344
Depreciation and amortisation
337
322
284
+4.4%
Share-based compensation
116
121
80.1
-4.4%
Buybacks
687
1,405
1,356
-51.1%
Diluted shares, weighted
74m
77m
84m
-3.2%
Shares outstanding at period end
72m
73m
79m
-2.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,282
2,541
2,867
+29.2%
Non-controlling interest
0.0
n/a
n/a
Debt
6,723
7,037
5,978
-4.5%
Operating lease liabilities
75.8
86.7
79.9
-12.5%
Other liabilities
5,395
4,424
4,481
+21.9%
Total liabilities and equity
15,476
14,089
13,405
+9.8%
Fixed assets
343
295
236
+16.4%
Goodwill
5,645
5,201
5,079
+8.5%
Intangible assets
2,086
2,131
2,335
-2.1%
Cash and equivalents
1,390
1,435
1,520
-3.2%
Receivables
2,162
2,065
1,793
+4.7%
Other assets
3,851
2,962
2,441
+30.0%
Total assets
15,476
14,089
13,405
+9.8%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.