How do Corpay and Fiserv compare by revenue?

Corpay reported revenue of $1.2B in Q4 2025, while Fiserv reported $5.3B in Q4 2025. Fiserv is 4.2× larger by last-quarter revenue.

Which is growing revenue faster, Corpay or Fiserv?

Corpay's latest revenue grew 20.7% year-over-year, versus 0.6% for Fiserv. Corpay is growing faster on a YoY basis.

Which has a higher net margin, Corpay or Fiserv?

Corpay's net margin is 21.2% vs Fiserv's 15.3%. Corpay has the higher bottom-line margin.

Which generates more free cash flow, Corpay or Fiserv?

Corpay generated $760.3M of free cash flow last quarter, versus $1.5B for Fiserv. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for Corpay vs Fiserv?

Over the trailing 8 quarters, Corpay compounded revenue at roughly 15.5% per year, versus 4.0% for Fiserv. Corpay has the faster medium-term growth trajectory.

Where does this CPAY vs FI data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Corpay (CPAY) and Fiserv (FI), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.

Fiserv is the larger business by last-quarter revenue ($5.3B vs $1.2B, roughly 4.2× Corpay). Corpay runs the higher net margin — 21.2% vs 15.3%, a 5.8% gap on every dollar of revenue. On growth, Corpay posted the faster year-over-year revenue change (20.7% vs 0.6%). Fiserv produced more free cash flow last quarter ($1.5B vs $760.3M). Over the past eight quarters, Corpay's revenue compounded faster (15.5% CAGR vs 4.0%).

CorpayCPAYEarnings & Financial Report

NYSE · Financials · Transaction & Payment Processing Services

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.

FiservFIEarnings & Financial Report

Financials · Transaction & Payment Processing Services

Fiserv, Inc. is an American multinational financial technology company headquartered in Milwaukee, Wisconsin. The company processes debit and credit card transactions, loyalty programs, loans, electronic bill pay, wires and ACH transfers, check deposits, and ATM transactions on behalf of banking institutions. The company also produces debit and credit cards and point of sale terminals.

CPAY vs FI — Head-to-Head

Bigger by revenue

4.2× larger

$5.3B

$1.2B

Growing faster (revenue YoY)

CPAY

+20.0% gap

20.7%

0.6%

Higher net margin

CPAY

5.8% more per $

21.2%

15.3%

More free cash flow

$741.7M more FCF

$1.5B

$760.3M

Faster 2-yr revenue CAGR

CPAY

Annualised

15.5%

4.0%

Income Statement — Q4 2025 vs Q4 2025

Metric	CPAY	FI
Revenue	$1.2B	$5.3B
Net Profit	$264.5M	$811.0M
Gross Margin	—	—
Operating Margin	45.2%	24.4%
Net Margin	21.2%	15.3%
Revenue YoY	20.7%	0.6%
Net Profit YoY	7.5%	-13.5%
EPS (diluted)	$3.74	$1.51

Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.

Revenue

CPAY

Q4 25	$1.2B	$5.3B
Q3 25	$1.2B	$5.3B
Q2 25	$1.1B	$5.5B
Q1 25	$1.0B	$5.1B
Q4 24	$1.0B	$5.3B
Q3 24	$1.0B	$5.2B
Q2 24	$975.7M	$5.1B
Q1 24	$935.3M	$4.9B

Net Profit

CPAY

Q4 25	$264.5M	$811.0M
Q3 25	$277.9M	$792.0M
Q2 25	$284.2M	$1.0B
Q1 25	$243.2M	$851.0M
Q4 24	$246.0M	$938.0M
Q3 24	$276.4M	$564.0M
Q2 24	$251.6M	$894.0M
Q1 24	$229.8M	$735.0M

Operating Margin

CPAY

Q4 25	45.2%	24.4%
Q3 25	44.6%	27.3%
Q2 25	43.5%	30.7%
Q1 25	42.5%	27.2%
Q4 24	47.2%	31.8%
Q3 24	45.5%	30.7%
Q2 24	44.4%	28.0%
Q1 24	42.5%	24.2%

Net Margin

CPAY

Q4 25	21.2%	15.3%
Q3 25	23.7%	15.0%
Q2 25	25.8%	18.6%
Q1 25	24.2%	16.6%
Q4 24	23.8%	17.9%
Q3 24	26.9%	10.8%
Q2 24	25.8%	17.5%
Q1 24	24.6%	15.1%

EPS (diluted)

CPAY

Q4 25	$3.74	$1.51
Q3 25	$3.91	$1.46
Q2 25	$3.98	$1.86
Q1 25	$3.40	$1.51
Q4 24	$3.43	$1.63
Q3 24	$3.90	$0.98
Q2 24	$3.52	$1.53
Q1 24	$3.12	$1.24

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.

Metric	CPAY	FI
Cash + ST InvestmentsLiquidity on hand	$2.4B	$798.0M
Total DebtLower is stronger	$10.0B	$27.8B
Stockholders' EquityBook value	$3.9B	$25.8B
Total Assets	$26.4B	$80.1B
Debt / EquityLower = less leverage	2.58×	1.08×

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Cash + ST Investments

CPAY

Q4 25	$2.4B	$798.0M
Q3 25	$2.0B	$1.1B
Q2 25	$2.2B	$999.0M
Q1 25	$1.6B	$1.2B
Q4 24	$1.6B	$1.2B
Q3 24	$1.3B	$1.2B
Q2 24	$1.4B	$1.2B
Q1 24	$1.3B	$1.2B

Total Debt

CPAY

Q4 25	$10.0B	$27.8B
Q3 25	$8.1B	$28.9B
Q2 25	$8.1B	$28.1B
Q1 25	$8.2B	$27.0B
Q4 24	$8.0B	$23.7B
Q3 24	—	$24.1B
Q2 24	—	$24.4B
Q1 24	—	$23.8B

Stockholders' Equity

CPAY

Q4 25	$3.9B	$25.8B
Q3 25	$4.1B	$25.1B
Q2 25	$3.9B	$25.2B
Q1 25	$3.5B	$25.9B
Q4 24	$3.1B	$27.1B
Q3 24	$3.1B	$27.8B
Q2 24	$2.8B	$28.2B
Q1 24	$3.3B	$28.8B

Total Assets

CPAY

Q4 25	$26.4B	$80.1B
Q3 25	$19.7B	$79.4B
Q2 25	$20.4B	$81.5B
Q1 25	$18.5B	$80.4B
Q4 24	$18.0B	$77.2B
Q3 24	$17.6B	$79.8B
Q2 24	$16.2B	$93.4B
Q1 24	$15.8B	$92.7B

Debt / Equity

CPAY

Q4 25	2.58×	1.08×
Q3 25	1.99×	1.15×
Q2 25	2.07×	1.11×
Q1 25	2.37×	1.04×
Q4 24	2.56×	0.88×
Q3 24	—	0.87×
Q2 24	—	0.87×
Q1 24	—	0.82×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.

Metric	CPAY	FI
Operating Cash FlowLast quarter	$812.7M	$1.9B
Free Cash FlowOCF − Capex	$760.3M	$1.5B
FCF MarginFCF / Revenue	60.9%	28.4%
Capex IntensityCapex / Revenue; lower = less reinvestment burden	4.2%	8.4%
Cash ConversionOCF / Net Profit; >1× = earnings back up with cash	3.07×	2.40×
TTM Free Cash FlowTrailing 4 quarters	$1.3B	$4.3B

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Operating Cash Flow

CPAY

Q4 25	$812.7M	$1.9B
Q3 25	$-378.9M	$1.8B
Q2 25	$1.1B	$1.7B
Q1 25	$-74.2M	$648.0M
Q4 24	$648.7M	$2.2B
Q3 24	$400.8M	$2.2B
Q2 24	$540.9M	$1.3B
Q1 24	$350.2M	$831.0M

Free Cash Flow

CPAY

Q4 25	$760.3M	$1.5B
Q3 25	$-429.8M	$1.3B
Q2 25	$1.1B	$1.2B
Q1 25	$-118.9M	$313.0M
Q4 24	$604.6M	$1.8B
Q3 24	$355.0M	$1.8B
Q2 24	$496.8M	$993.0M
Q1 24	$309.0M	$411.0M

FCF Margin

CPAY

Q4 25	60.9%	28.4%
Q3 25	-36.7%	24.7%
Q2 25	98.7%	21.5%
Q1 25	-11.8%	6.1%
Q4 24	58.4%	34.7%
Q3 24	34.5%	35.2%
Q2 24	50.9%	19.4%
Q1 24	33.0%	8.4%

Capex Intensity

CPAY

Q4 25	4.2%	8.4%
Q3 25	4.3%	9.6%
Q2 25	4.8%	8.7%
Q1 25	4.5%	6.5%
Q4 24	4.3%	7.6%
Q3 24	4.4%	7.7%
Q2 24	4.5%	6.8%
Q1 24	4.4%	8.6%

Cash Conversion

CPAY

Q4 25	3.07×	2.40×
Q3 25	-1.36×	2.28×
Q2 25	4.01×	1.62×
Q1 25	-0.30×	0.76×
Q4 24	2.64×	2.37×
Q3 24	1.45×	3.97×
Q2 24	2.15×	1.50×
Q1 24	1.52×	1.13×

Financial Flow Comparison

Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.