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Side-by-side financial comparison of Corpay (CPAY) and DONALDSON Co INC (DCI). Click either name above to swap in a different company.
Corpay is the larger business by last-quarter revenue ($1.2B vs $935.4M, roughly 1.3× DONALDSON Co INC). Corpay runs the higher net margin — 21.2% vs 12.2%, a 9.0% gap on every dollar of revenue. On growth, Corpay posted the faster year-over-year revenue change (20.7% vs 3.9%). Corpay produced more free cash flow last quarter ($760.3M vs $111.2M). Over the past eight quarters, Corpay's revenue compounded faster (15.5% CAGR vs 3.3%).
Corpay, Inc., headquartered in Atlanta, Georgia, provides payments and spend management systems and services that control expense-related purchasing and payment processes. The company focuses on vehicle-related expenses, lodging expenses, and corporate payments.
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
CPAY vs DCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $935.4M |
| Net Profit | $264.5M | $113.9M |
| Gross Margin | — | 35.2% |
| Operating Margin | 45.2% | 16.0% |
| Net Margin | 21.2% | 12.2% |
| Revenue YoY | 20.7% | 3.9% |
| Net Profit YoY | 7.5% | 15.1% |
| EPS (diluted) | $3.74 | $0.97 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.2B | $935.4M | ||
| Q3 25 | $1.2B | $980.7M | ||
| Q2 25 | $1.1B | $940.1M | ||
| Q1 25 | $1.0B | $870.0M | ||
| Q4 24 | $1.0B | $900.1M | ||
| Q3 24 | $1.0B | $935.4M | ||
| Q2 24 | $975.7M | $927.9M | ||
| Q1 24 | $935.3M | $876.7M |
| Q4 25 | $264.5M | $113.9M | ||
| Q3 25 | $277.9M | $114.3M | ||
| Q2 25 | $284.2M | $57.8M | ||
| Q1 25 | $243.2M | $95.9M | ||
| Q4 24 | $246.0M | $99.0M | ||
| Q3 24 | $276.4M | $109.7M | ||
| Q2 24 | $251.6M | $113.5M | ||
| Q1 24 | $229.8M | $98.7M |
| Q4 25 | — | 35.2% | ||
| Q3 25 | — | 34.5% | ||
| Q2 25 | — | 34.2% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.6% | ||
| Q1 24 | — | 35.2% |
| Q4 25 | 45.2% | 16.0% | ||
| Q3 25 | 44.6% | 15.5% | ||
| Q2 25 | 43.5% | 9.3% | ||
| Q1 25 | 42.5% | 14.4% | ||
| Q4 24 | 47.2% | 14.5% | ||
| Q3 24 | 45.5% | 15.6% | ||
| Q2 24 | 44.4% | 15.5% | ||
| Q1 24 | 42.5% | 14.8% |
| Q4 25 | 21.2% | 12.2% | ||
| Q3 25 | 23.7% | 11.7% | ||
| Q2 25 | 25.8% | 6.1% | ||
| Q1 25 | 24.2% | 11.0% | ||
| Q4 24 | 23.8% | 11.0% | ||
| Q3 24 | 26.9% | 11.7% | ||
| Q2 24 | 25.8% | 12.2% | ||
| Q1 24 | 24.6% | 11.3% |
| Q4 25 | $3.74 | $0.97 | ||
| Q3 25 | $3.91 | $0.97 | ||
| Q2 25 | $3.98 | $0.48 | ||
| Q1 25 | $3.40 | $0.79 | ||
| Q4 24 | $3.43 | $0.81 | ||
| Q3 24 | $3.90 | $0.90 | ||
| Q2 24 | $3.52 | $0.92 | ||
| Q1 24 | $3.12 | $0.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.4B | $210.7M |
| Total DebtLower is stronger | $10.0B | $671.5M |
| Stockholders' EquityBook value | $3.9B | $1.5B |
| Total Assets | $26.4B | $3.0B |
| Debt / EquityLower = less leverage | 2.58× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $210.7M | ||
| Q3 25 | $2.0B | $180.4M | ||
| Q2 25 | $2.2B | $178.5M | ||
| Q1 25 | $1.6B | $189.1M | ||
| Q4 24 | $1.6B | $221.2M | ||
| Q3 24 | $1.3B | $232.7M | ||
| Q2 24 | $1.4B | $223.7M | ||
| Q1 24 | $1.3B | $193.8M |
| Q4 25 | $10.0B | $671.5M | ||
| Q3 25 | $8.1B | $630.4M | ||
| Q2 25 | $8.1B | $638.8M | ||
| Q1 25 | $8.2B | $514.7M | ||
| Q4 24 | $8.0B | $538.6M | ||
| Q3 24 | — | $483.4M | ||
| Q2 24 | — | $481.8M | ||
| Q1 24 | — | $352.0M |
| Q4 25 | $3.9B | $1.5B | ||
| Q3 25 | $4.1B | $1.5B | ||
| Q2 25 | $3.9B | $1.5B | ||
| Q1 25 | $3.5B | $1.5B | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $3.1B | $1.5B | ||
| Q2 24 | $2.8B | $1.5B | ||
| Q1 24 | $3.3B | $1.4B |
| Q4 25 | $26.4B | $3.0B | ||
| Q3 25 | $19.7B | $3.0B | ||
| Q2 25 | $20.4B | $3.0B | ||
| Q1 25 | $18.5B | $3.0B | ||
| Q4 24 | $18.0B | $3.0B | ||
| Q3 24 | $17.6B | $2.9B | ||
| Q2 24 | $16.2B | $2.9B | ||
| Q1 24 | $15.8B | $2.8B |
| Q4 25 | 2.58× | 0.44× | ||
| Q3 25 | 1.99× | 0.43× | ||
| Q2 25 | 2.07× | 0.44× | ||
| Q1 25 | 2.37× | 0.33× | ||
| Q4 24 | 2.56× | 0.35× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.26× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $812.7M | $125.4M |
| Free Cash FlowOCF − Capex | $760.3M | $111.2M |
| FCF MarginFCF / Revenue | 60.9% | 11.9% |
| Capex IntensityCapex / Revenue | 4.2% | 1.5% |
| Cash ConversionOCF / Net Profit | 3.07× | 1.10× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $403.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $812.7M | $125.4M | ||
| Q3 25 | $-378.9M | $167.8M | ||
| Q2 25 | $1.1B | $87.7M | ||
| Q1 25 | $-74.2M | $90.4M | ||
| Q4 24 | $648.7M | $72.9M | ||
| Q3 24 | $400.8M | $126.0M | ||
| Q2 24 | $540.9M | $141.5M | ||
| Q1 24 | $350.2M | $87.0M |
| Q4 25 | $760.3M | $111.2M | ||
| Q3 25 | $-429.8M | $147.5M | ||
| Q2 25 | $1.1B | $73.0M | ||
| Q1 25 | $-118.9M | $71.5M | ||
| Q4 24 | $604.6M | $47.9M | ||
| Q3 24 | $355.0M | $106.2M | ||
| Q2 24 | $496.8M | $120.2M | ||
| Q1 24 | $309.0M | $65.7M |
| Q4 25 | 60.9% | 11.9% | ||
| Q3 25 | -36.7% | 15.0% | ||
| Q2 25 | 98.7% | 7.8% | ||
| Q1 25 | -11.8% | 8.2% | ||
| Q4 24 | 58.4% | 5.3% | ||
| Q3 24 | 34.5% | 11.4% | ||
| Q2 24 | 50.9% | 13.0% | ||
| Q1 24 | 33.0% | 7.5% |
| Q4 25 | 4.2% | 1.5% | ||
| Q3 25 | 4.3% | 2.1% | ||
| Q2 25 | 4.8% | 1.6% | ||
| Q1 25 | 4.5% | 2.2% | ||
| Q4 24 | 4.3% | 2.8% | ||
| Q3 24 | 4.4% | 2.1% | ||
| Q2 24 | 4.5% | 2.3% | ||
| Q1 24 | 4.4% | 2.4% |
| Q4 25 | 3.07× | 1.10× | ||
| Q3 25 | -1.36× | 1.47× | ||
| Q2 25 | 4.01× | 1.52× | ||
| Q1 25 | -0.30× | 0.94× | ||
| Q4 24 | 2.64× | 0.74× | ||
| Q3 24 | 1.45× | 1.15× | ||
| Q2 24 | 2.15× | 1.25× | ||
| Q1 24 | 1.52× | 0.88× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CPAY
| Vehicle Payments | $572.9M | 46% |
| Corporate Payments | $480.8M | 39% |
| Lodging Payments | $112.5M | 9% |
| Other Operating Segments | $82.1M | 7% |
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
