Corpay management check
CPAY · Financials · Transaction & Payment Processing Services
Filings as of
4 good · 2 to watch · 1 flagged, across the seven questions below.
- Watch
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $110, against $132 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.67 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.3% of net income$3.4m of reported pay in fiscal 2025, against $1.1bn of net income.
- Watch
Do they own the stock?
Insiders are selling5 insiders sold $146.4m in the last six months and none bought.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -2.3% a year over the last three fiscal years. Stock-based pay was 2.3% of revenue in the latest year.
- Good
Is leadership stable?
6 leadership filings in 3 years6 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Flag
Are the books clean?
Red flags on file1 restatement notice (8-K 4.02) since 2021. 1 amended annual report.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 29 | 49 | |
| Pay for performance | 84 | 83 | |
| CEO cost | 91 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 78 | 69 | |
| Stable leadership | 95 | 80 | |
| Clean books | 30 | 100 |
Closest peers
Others in Transaction & Payment Processing Services, by management score. Corpay is 38th of 72 in its sector.
- 107MAMastercard76
- 209CPAYCorpay68
- 250XYZBlock, Inc.64
- 273VVisa Inc.63
- 316GPNGlobal Payments60
- 359PYPLPayPal57
- 389FISVFiserv55
- 433JKHYJack Henry & Associates49
- 462FISFidelity National Information Services42
Pay versus performance
From the proxy statement filed April 10, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | — | $3.4m | $2.7m | $5.0m | $110 | $132 | $1.1bn |
| 2024 | — | $28.1m | $48.4m | $4.0m | $124 | $132 | $1.0bn |
| 2023 | — | $2.7m | $21.1m | $3.1m | $104 | $120 | $982.0m |
| 2022 | — | $4.0m | −$24.3m | $3.9m | $67 | $79 | $954.0m |
| 2021 | — | $57.9m | $31.2m | $4.5m | $82 | $95 | $839.0m |
The board says pay is tied most to Adjusted EPS. Its other key measures: Adjusted EPS-COMP, GAAP Revenue, as adjusted, Vehicle Payments Sales, as adjusted.
Insiders and the CEO's stake
5 insiders sold $146.4m in the last six months and none bought.
- SoldRonald ClarkeCEO & Chairman of BOD$88.5mAug 25, 2026
- SoldArmando Lins NettoGroupPresident Brazil&USVehPmt$32.5mJun 15, 2026
- SoldAlan KingGroupPresident IntlVehiclePmts$19.9mAug 21, 2026
- SoldSteven T StullDirector$3.2mAug 20, 2026
Leadership and governance on file
- Jul 24, 2026Leadership change8-K 5.02
- Jan 22, 2026Leadership change8-K 5.02
- Jun 10, 2025Leadership change8-K 5.02
- Mar 17, 2025Leadership change8-K 5.02
- Dec 3, 2024Leadership change8-K 5.02
- Oct 28, 2024Leadership change8-K 5.02
- Feb 29, 2024Restatement notice8-K 4.02
- Aug 3, 2023Leadership change8-K 5.02
- May 3, 2023Leadership change8-K 5.02
- Mar 28, 2023Leadership change8-K 5.02
- Mar 20, 2023Leadership change8-K 5.02
- Jan 27, 2023Leadership change8-K 5.02
Latest shareholder vote results: May 12, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $5.5bn returned to owners in buybacks and dividends, 114% of net income, and $536.9m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.8bn | $3.4bn | $3.8bn | $4.0bn | $4.5bn |
| Net income | $839.0m | $954.0m | $982.0m | $1.0bn | $1.1bn |
| Stock-based pay | $80.1m | $121.4m | $116.1m | $116.7m | $102.6m |
| Buybacks | $1.4bn | $1.4bn | $686.9m | $1.3bn | $782.8m |
| Dividends | — | — | — | — | — |
| Diluted shares | 84m | 77m | 74m | 72m | 71m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.