For the year ending 2025-12-31, CPAY had $4,535,595K increase in cash & cash equivalents over the period. $1,299,145K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,071,948 | 1,003,732 | 981,890 | 954,327 |
| Depreciation | 131,164 | 120,106 | 109,983 | 92,010 |
| Stock-based compensation | 102,637 | 116,724 | 116,086 | 121,416 |
| Provision for credit losses on accounts and other receivables | 122,642 | 103,133 | 125,152 | 131,096 |
| Amortization of deferred financing costs and discounts | 21,065 | 7,994 | 7,249 | 7,748 |
| Amortization of intangible assets and premium on receivables | 262,139 | 230,982 | 226,621 | 230,272 |
| Deferred income taxes | -27,904 | -64,718 | -46,678 | -33,174 |
| Loss on extinguishment of debt | -1,596 | -5,040 | 0 | -1,934 |
| Goodwill impairment | 0 | 90,000 | - | - |
| Investment loss (gain), net | - | - | - | -1,382 |
| Gain on disposition of business | 42,261 | 121,310 | 13,712 | - |
| Other non-cash operating expense, net | -19,296 | -1,028 | -637 | -282 |
| Accounts and other receivables | 499,184 | 176,931 | 210,261 | 598,674 |
| Prepaid expenses and other current assets | 101,037 | -9,166 | -69,287 | 17,543 |
| Derivative assets and liabilities, net | 74,210 | 15,414 | 33,278 | 11,260 |
| Other assets | -13,010 | 32,189 | -54,180 | 41,068 |
| Accounts payable, accrued expenses and customer deposits | 499,000 | 663,222 | 713,976 | -83,951 |
| Net cash provided by operating activities | 1,499,901 | 1,940,565 | 2,101,132 | 754,797 |
| Acquisitions, net of cash acquired | -1,933,783 | 821,924 | 428,327 | 216,917 |
| Purchases of property and equipment | 200,756 | 175,176 | 153,822 | 151,428 |
| Investment in equity method investment | 578,446 | - | - | - |
| Proceeds from disposal of a business, net of cash disposed | 58,209 | 185,506 | 197,025 | 0 |
| Other | -14,572 | -4,117 | -4,401 | 0 |
| Net cash provided by (used in) investing activities | 1,227,362 | -807,477 | -380,723 | -368,345 |
| Proceeds from issuance of common stock | 67,770 | 428,224 | 113,742 | 49,404 |
| Repurchase of common stock | 782,818 | 1,287,998 | 686,859 | 1,405,200 |
| Proceeds from redeemable noncontrolling interest | 300,000 | - | - | - |
| Borrowings on securitization facility, net | 500,000 | 16,000 | 20,000 | 169,000 |
| Deferred financing costs | 38,825 | 8,493 | 376 | 10,355 |
| Proceeds from notes payable | 1,650,000 | 825,000 | 0 | 3,000,000 |
| Principal payments on notes payable | 197,140 | 140,050 | 94,000 | 2,824,000 |
| Borrowings from revolver | 12,134,000 | 9,989,000 | 8,734,960 | 7,236,000 |
| Payments on revolver | 12,071,000 | 9,278,000 | 9,118,960 | 6,526,000 |
| Borrowing (payments) on swing line of credit, net | 692 | -140,713 | 135,568 | 194 |
| Other | -928 | 2,019 | -2,286 | -271 |
| Net cash provided by (used in) financing activities | 1,561,751 | 404,989 | -898,211 | -311,228 |
| Effect of foreign currency exchange rates on cash | 246,581 | -223,267 | 30,157 | -36,739 |
| Net increase in cash and cash equivalents and restricted cash | 4,535,595 | 1,314,810 | 852,355 | 38,485 |
| Cash, cash equivalents and restricted cash at beginning of period | 4,456,345 | 3,141,535 | 2,289,180 | 2,250,695 |
| Cash, cash equivalents and restricted cash at end of period | 8,991,940 | 4,456,345 | 3,141,535 | 2,289,180 |
CORPAY, INC. (CPAY)
CORPAY, INC. (CPAY)