Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
One legal charge explains most of the margin drop
The charge equals 7.5 points of revenue, nearly all of the 8.2-point fall in operating margin.
For investorsWhat has to hold for the enterprise volume trade to pay
For foundersEarning a thin slice of someone else's payment flow
Each spend dollar earned less than a year ago, yet segment revenue rose 41.7% on new enterprise clients and acquisitions.
Free cash flow exceeded the quarter's revenue as working capital swung its way, after a negative prior quarter.
Borrowing for acquisitions lifted interest 18.4%, while buybacks shrank the share count and softened the per-share fall.
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Business Lens describes Corpay from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
