Corpay (CPAY) 10-K Summary — Year Ended Dec 31, 2023
Corpay, Inc. filed its annual report for the period ended December 31, 2023. The filing describes the company's business, risk factors, financial condition, and liquidity.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Corpay, Inc. filed its annual report for the period ended December 31, 2023. The filing describes the company's business, risk factors, financial condition, and liquidity.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$3.8B
Revenue reported for the fiscal year.
Operating income
$1.7B
Income from operations reported for the year.
Net income
$981.9M
Net income reported for the year.
Operating cash flow
$2.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $1.8B | n/a |
| Sep 30, 2023 | $2.8B | +52.5% |
| Dec 31, 2023 | $3.8B | +33.2% |
Business overview
Corpay, Inc. operates as a provider of payment solutions and related services. The business overview section outlines the company's operations and executive officers.
Financial performance
The company reported revenue, operating income, net income, and operating cash flow for the period. The trend data shows sequential increases in revenue over the reported periods.
Material risks
Risk factors are detailed in the filing, covering areas such as indebtedness, acquisitions, and operational challenges. The company notes that its restricted cash includes customer deposits and collateral that are legally restricted from other uses.
Liquidity and capital
Principal liquidity needs include servicing debt, funding acquisitions, repurchasing stock, and meeting working capital requirements. The company believes its cash, borrowing capacity, and expected cash flows are sufficient for the next twelve months and foreseeable future.
What to watch
Monitor changes in the company's liquidity position, including cash levels and borrowing capacity under its credit and securitization facilities.