Discounted Cash Flow

Corpay, Inc.

CPAY · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.8b $452.4m $646.9m 24.7% $4.89
2017 $2.2b (22.8%) $740.2m (63.6%) $605.6m (-6.4%) 32.9% (33.2%) $8.12 (66.1%)
2018 $2.4b (8.2%) $811.5m (9.6%) $822.0m (35.7%) 33.3% (1.3%) $9.14 (12.6%)
2019 $2.6b (8.8%) $895.1m (10.3%) $1.1b (32.2%) 33.8% (1.3%) $10.36 (13.3%)
2020 $2.4b (-9.8%) $704.2m (-21.3%) $1.4b (28.3%) 29.5% (-12.8%) $8.38 (-19.1%)
2021 $2.8b (18.6%) $839.5m (19.2%) $1.1b (-22.1%) 29.6% (0.5%) $10.23 (22.1%)
2022 $3.4b (20.9%) $954.3m (13.7%) $603.4m (-44.4%) 27.8% (-6.0%) $12.62 (23.4%)
2023 $3.8b (9.6%) $981.9m (2.9%) $1.9b (222.7%) 26.1% (-6.2%) $13.42 (6.3%)
2024 $4.0b (5.8%) $1.0b (2.2%) $1.8b (-9.3%) 25.3% (-3.4%) $14.27 (6.3%)
2025 $4.5b (13.9%) $1.1b (6.6%) $1.3b (-26.4%) 23.6% (-6.5%) $15.23 (6.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model