Corpay (CPAY) Investor presentation summary

Market opportunity and challenges

• Mid-market businesses face unmet needs in spend management, cross-border payments, and vehicle solutions, as traditional banks lack specialized tools and automation.

• Corpay addresses a $600B global revenue opportunity across three segments: $400B in spend management, $160B in cross-border, and $40B in vehicle solutions, with current market shares below 5% in each.

• Legacy banks rely on outdated processors and generic networks, leaving significant room for specialized providers.

Solutions and competitive advantages

• Offers integrated spend management, cross-border payment, and vehicle solutions tailored for mid-market needs.

• Provides automation, policy enforcement, and vertical integration for spend management, consolidating fragmented workflows.

• Delivers global FX conversion, risk management, and foreign bank accounts in 145+ currencies, with a licensed presence in 35 countries.

• Proprietary networks and specialized controls for vehicle expenses enhance savings and reduce misuse risk.

Financial performance and growth

• Achieved a 17% revenue CAGR and 19% cash EPS CAGR from 2010 to 2026E, with revenue projected to reach $5.3B and cash EPS $27.35 in 2026.

• Consistent organic revenue growth of 10% annually, supported by high client retention rates around 93%.

• Growth algorithm targets >20% annual cash EPS compounding, aiming for ~$50 per share by 2029.