Question 1

What is Corpay's P/FCF ratio?

Accepted Answer

Corpay (CPAY) P/FCF ratio is 18.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Corpay?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Corpay specifically, the relevant sector benchmark is the current sector median of 21.8×.

Question 5

Is Corpay's P/FCF ratio high or low?

Accepted Answer

Corpay's P/FCF ratio of 18.8× is above its own 5-year average of 15.6× and below the sector median of 21.8×. That places the current reading at the 71th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Corpay's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Corpay (CPAY) P/FCF ratio has ranged from a low of 8.0× in 2024 to a high of 31.0× in 2021. The 5-year average is 15.6× and the 5-year median is 14.9×.

Question 7

What was Corpay's P/FCF ratio in 2025?

Accepted Answer

Corpay (CPAY) P/FCF ratio at the end of 2025 was 16.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Corpay's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$20.9B	$1.3B	16.1×	+2.7×	Dec 31, 2025
2024	$23.7B	$1.77B	13.4×	+5.1×	Dec 31, 2024
2023	$20.3B	$2.43B	8.4×	-14.0×	Dec 31, 2023
2022	$13.5B	$603M	22.4×	+5.8×	Dec 31, 2022
2021	$18B	$1.09B	16.5×	-0.2×	Dec 31, 2021
2020	$23.4B	$1.39B	16.8×	-7.1×	Dec 31, 2020
2019	$26B	$1.09B	23.9×	+3.4×	Dec 31, 2019
2018	$16.8B	$822M	20.5×	-8.9×	Dec 31, 2018
2017	$17.9B	$610M	29.4×	+8.6×	Dec 31, 2017
2016	$13.5B	$647M	20.8×	+2.0×	Dec 31, 2016
2015	$13.5B	$713M	18.9×	-4.1×	Dec 31, 2015
2014	$13.4B	$581M	23.0×	-5.1×	Dec 31, 2014
2013	$9.97B	$355M	28.1×	—	Dec 31, 2013


Zebra Technologies (ZBRA)	12.2×
Skyworks Solutions (SWKS)	11.9×
Cognizant (CTSH)	11.8×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
QUALCOMM (QCOM)	10.8×
Leidos Holdings (LDOS)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Qorvo (QRVO)	10.4×
Adobe (ADBE)	9.8×
Accenture (ACN)	9.6×
Strategy (MSTR)	9.2×
Gartner (IT)	8.8×
Fidelity National Information Services (FIS)	8.7×
DocuSign (DOCU)	8.0×
Gen Digital (GEN)	7.5×
Fiserv (FISV)	7.2×
Science Applications International (SAIC)	7.0×
Hewlett Packard Enterprise (HPE)	6.8×
GoDaddy (GDDY)	6.7×
HP (HPQ)	5.1×
Lyft (LYFT)	4.5×
IBM (IBM)	0.0×

P/FCF Ratio for Corpay (CPAY) 2013-2026

P/FCF Ratio daily chart for Corpay (CPAY)

Historical P/FCF Ratio for Corpay (CPAY) from 2013 to 2025

About P/FCF Ratio at Corpay (CPAY)

Corpay P/FCF Ratio by Year

Corpay P/FCF Ratio 2025: 16.1×

Corpay P/FCF Ratio 2024: 13.4×

Corpay P/FCF Ratio 2023: 8.4×

Corpay P/FCF Ratio 2022: 22.4×

Corpay P/FCF Ratio 2021: 16.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Corpay (CPAY) Key Financials