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Side-by-side financial comparison of Corpay (CPAY) and Dream Finders Homes, Inc. (DFH). Click either name above to swap in a different company.
Corpay is the larger business by last-quarter revenue ($1.2B vs $1.2B, roughly 1.0× Dream Finders Homes, Inc.). Corpay runs the higher net margin — 21.2% vs 4.8%, a 16.3% gap on every dollar of revenue. On growth, Corpay posted the faster year-over-year revenue change (20.7% vs -22.3%). Corpay produced more free cash flow last quarter ($760.3M vs $136.0M). Over the past eight quarters, Dream Finders Homes, Inc.'s revenue compounded faster (21.0% CAGR vs 15.5%).
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.
Dream Finders Homes, Inc. is a U.S. homebuilding firm that constructs and sells entry-level to luxury residential properties, including single-family homes and townhomes, across high-growth domestic markets. It also provides mortgage, title insurance and home warranty services for homebuyers.
CPAY vs DFH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.2B |
| Net Profit | $264.5M | $58.8M |
| Gross Margin | — | — |
| Operating Margin | 45.2% | 6.4% |
| Net Margin | 21.2% | 4.8% |
| Revenue YoY | 20.7% | -22.3% |
| Net Profit YoY | 7.5% | -54.9% |
| EPS (diluted) | $3.74 | $0.57 |
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 | $1.2B | ||
| Q3 25 | $1.2B | $969.8M | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $989.9M | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $1.0B | $1.0B | ||
| Q2 24 | $975.7M | $1.1B | ||
| Q1 24 | $935.3M | $827.8M |
| Q4 25 | $264.5M | $58.8M | ||
| Q3 25 | $277.9M | $47.0M | ||
| Q2 25 | $284.2M | $56.6M | ||
| Q1 25 | $243.2M | $54.9M | ||
| Q4 24 | $246.0M | $130.5M | ||
| Q3 24 | $276.4M | $70.7M | ||
| Q2 24 | $251.6M | $80.9M | ||
| Q1 24 | $229.8M | $54.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 19.2% | ||
| Q1 24 | — | 18.0% |
| Q4 25 | 45.2% | 6.4% | ||
| Q3 25 | 44.6% | 6.3% | ||
| Q2 25 | 43.5% | 6.4% | ||
| Q1 25 | 42.5% | 7.2% | ||
| Q4 24 | 47.2% | 10.8% | ||
| Q3 24 | 45.5% | 9.2% | ||
| Q2 24 | 44.4% | 10.0% | ||
| Q1 24 | 42.5% | 8.6% |
| Q4 25 | 21.2% | 4.8% | ||
| Q3 25 | 23.7% | 4.8% | ||
| Q2 25 | 25.8% | 4.9% | ||
| Q1 25 | 24.2% | 5.5% | ||
| Q4 24 | 23.8% | 8.4% | ||
| Q3 24 | 26.9% | 7.0% | ||
| Q2 24 | 25.8% | 7.7% | ||
| Q1 24 | 24.6% | 6.6% |
| Q4 25 | $3.74 | $0.57 | ||
| Q3 25 | $3.91 | $0.47 | ||
| Q2 25 | $3.98 | $0.56 | ||
| Q1 25 | $3.40 | $0.54 | ||
| Q4 24 | $3.43 | $1.28 | ||
| Q3 24 | $3.90 | $0.70 | ||
| Q2 24 | $3.52 | $0.81 | ||
| Q1 24 | $3.12 | $0.55 |
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 | $234.8M |
| Total DebtLower is stronger | $10.0B | $1.6B |
| Stockholders' EquityBook value | $3.9B | $1.4B |
| Total Assets | $26.4B | $3.7B |
| Debt / EquityLower = less leverage | 2.58× | 1.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $234.8M | ||
| Q3 25 | $2.0B | $251.0M | ||
| Q2 25 | $2.2B | $210.3M | ||
| Q1 25 | $1.6B | $297.5M | ||
| Q4 24 | $1.6B | $274.4M | ||
| Q3 24 | $1.3B | $204.9M | ||
| Q2 24 | $1.4B | $274.8M | ||
| Q1 24 | $1.3B | $239.4M |
| Q4 25 | $10.0B | $1.6B | ||
| Q3 25 | $8.1B | $1.8B | ||
| Q2 25 | $8.1B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.0B | $1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.9B | $1.4B | ||
| Q3 25 | $4.1B | $1.4B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $3.5B | $1.3B | ||
| Q4 24 | $3.1B | $1.2B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $2.8B | $1.0B | ||
| Q1 24 | $3.3B | $968.7M |
| Q4 25 | $26.4B | $3.7B | ||
| Q3 25 | $19.7B | $3.8B | ||
| Q2 25 | $20.4B | $3.7B | ||
| Q1 25 | $18.5B | $3.5B | ||
| Q4 24 | $18.0B | $3.3B | ||
| Q3 24 | $17.6B | $3.3B | ||
| Q2 24 | $16.2B | $3.0B | ||
| Q1 24 | $15.8B | $2.7B |
| Q4 25 | 2.58× | 1.13× | ||
| Q3 25 | 1.99× | 1.29× | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 2.37× | — | ||
| Q4 24 | 2.56× | 1.03× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $143.6M |
| Free Cash FlowOCF − Capex | $760.3M | $136.0M |
| FCF MarginFCF / Revenue | 60.9% | 11.2% |
| Capex IntensityCapex / Revenue | 4.2% | 0.6% |
| Cash ConversionOCF / Net Profit | 3.07× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $-126.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $812.7M | $143.6M | ||
| Q3 25 | $-378.9M | $-131.0M | ||
| Q2 25 | $1.1B | $-68.5M | ||
| Q1 25 | $-74.2M | $-44.7M | ||
| Q4 24 | $648.7M | $306.5M | ||
| Q3 24 | $400.8M | $-205.0M | ||
| Q2 24 | $540.9M | $-110.6M | ||
| Q1 24 | $350.2M | $-247.5M |
| Q4 25 | $760.3M | $136.0M | ||
| Q3 25 | $-429.8M | $-135.7M | ||
| Q2 25 | $1.1B | $-78.8M | ||
| Q1 25 | $-118.9M | $-47.9M | ||
| Q4 24 | $604.6M | $302.6M | ||
| Q3 24 | $355.0M | $-222.5M | ||
| Q2 24 | $496.8M | $-112.4M | ||
| Q1 24 | $309.0M | $-249.6M |
| Q4 25 | 60.9% | 11.2% | ||
| Q3 25 | -36.7% | -14.0% | ||
| Q2 25 | 98.7% | -6.8% | ||
| Q1 25 | -11.8% | -4.8% | ||
| Q4 24 | 58.4% | 19.4% | ||
| Q3 24 | 34.5% | -22.1% | ||
| Q2 24 | 50.9% | -10.6% | ||
| Q1 24 | 33.0% | -30.2% |
| Q4 25 | 4.2% | 0.6% | ||
| Q3 25 | 4.3% | 0.5% | ||
| Q2 25 | 4.8% | 0.9% | ||
| Q1 25 | 4.5% | 0.3% | ||
| Q4 24 | 4.3% | 0.3% | ||
| Q3 24 | 4.4% | 1.7% | ||
| Q2 24 | 4.5% | 0.2% | ||
| Q1 24 | 4.4% | 0.3% |
| Q4 25 | 3.07× | 2.44× | ||
| Q3 25 | -1.36× | -2.79× | ||
| Q2 25 | 4.01× | -1.21× | ||
| Q1 25 | -0.30× | -0.81× | ||
| Q4 24 | 2.64× | 2.35× | ||
| Q3 24 | 1.45× | -2.90× | ||
| Q2 24 | 2.15× | -1.37× | ||
| Q1 24 | 1.52× | -4.54× |
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% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
