CORPAY, INC. (CPAY) closed fiscal year 2025 with a gross margin of 78.6 % and a net margin of 23.6 %.
CORPAY, INC. (CPAY) closed fiscal year 2025 with a gross margin of 78.6 % and a net margin of 23.6 %. The same year shows an EBITDA margin of 52.7 % and an EBIT margin of 44.0 %. The free cash flow margin was 28.7 %. Against the previous year the gross margin moved +0.5 pp and the net margin −1.6 pp. Across the period the gross margin ranges between 77.7 % in 2022 and 99.3 % in 2012. The series covers 17 fiscal years, from 2009 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | 99.34 % | 99.21 % | 98.90 % | 95.06 % | 95.00 % | 95.70 % | — | — | — | — | 77.69 % | 78.18 % | 78.13 % | 78.60 % |
| EBITDA margin (%) | 49.26 % | 47.08 % | 50.52 % | 53.28 % | 55.11 % | 56.51 % | 50.56 % | 52.27 % | 51.05 % | 56.10 % | 56.84 % | 51.37 % | 53.88 % | 51.62 % | 53.05 % | 53.80 % | 52.72 % |
| EBIT margin (%) | 41.25 % | 39.30 % | 43.56 % | 45.92 % | 46.99 % | 47.14 % | 39.20 % | 41.18 % | 39.29 % | 44.82 % | 46.49 % | 40.70 % | 43.85 % | 42.21 % | 44.09 % | 44.96 % | 44.04 % |
| Net margin (%) | 25.15 % | 24.87 % | 28.36 % | 30.56 % | 31.78 % | 30.74 % | 21.28 % | 24.70 % | 32.90 % | 33.35 % | 33.79 % | 29.48 % | 29.63 % | 27.85 % | 26.13 % | 25.25 % | 23.62 % |
| FCF margin (%) | 47.76 % | 29.63 % | 51.23 % | 16.44 % | 39.65 % | 48.46 % | 41.85 % | 35.45 % | 27.12 % | 33.78 % | 41.03 % | 58.36 % | 38.31 % | 17.61 % | 51.82 % | 44.42 % | 28.69 % |
