vs
Side-by-side financial comparison of Corpay (CPAY) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Corpay is the larger business by last-quarter revenue ($1.2B vs $1.0B, roughly 1.2× Liberty Energy Inc.). Corpay runs the higher net margin — 21.2% vs 2.2%, a 19.0% gap on every dollar of revenue. On growth, Corpay posted the faster year-over-year revenue change (20.7% vs 4.5%). Over the past eight quarters, Corpay's revenue compounded faster (15.5% CAGR vs -6.2%).
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.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
CPAY vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.0B |
| Net Profit | $264.5M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 45.2% | 2.2% |
| Net Margin | 21.2% | 2.2% |
| Revenue YoY | 20.7% | 4.5% |
| Net Profit YoY | 7.5% | 64.8% |
| EPS (diluted) | $3.74 | $0.14 |
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.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $1.2B | $947.4M | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $1.0B | $977.5M | ||
| Q4 24 | $1.0B | $943.6M | ||
| Q3 24 | $1.0B | $1.1B | ||
| Q2 24 | $975.7M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $264.5M | $13.7M | ||
| Q3 25 | $277.9M | $43.1M | ||
| Q2 25 | $284.2M | $71.0M | ||
| Q1 25 | $243.2M | $20.1M | ||
| Q4 24 | $246.0M | $51.9M | ||
| Q3 24 | $276.4M | $73.8M | ||
| Q2 24 | $251.6M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 22.1% | ||
| Q1 25 | — | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 45.2% | 1.9% | ||
| Q3 25 | 44.6% | -0.3% | ||
| Q2 25 | 43.5% | 3.6% | ||
| Q1 25 | 42.5% | 1.9% | ||
| Q4 24 | 47.2% | 2.6% | ||
| Q3 24 | 45.5% | 9.4% | ||
| Q2 24 | 44.4% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 21.2% | 1.3% | ||
| Q3 25 | 23.7% | 4.5% | ||
| Q2 25 | 25.8% | 6.8% | ||
| Q1 25 | 24.2% | 2.1% | ||
| Q4 24 | 23.8% | 5.5% | ||
| Q3 24 | 26.9% | 6.5% | ||
| Q2 24 | 25.8% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $3.74 | $0.08 | ||
| Q3 25 | $3.91 | $0.26 | ||
| Q2 25 | $3.98 | $0.43 | ||
| Q1 25 | $3.40 | $0.12 | ||
| Q4 24 | $3.43 | $0.31 | ||
| Q3 24 | $3.90 | $0.44 | ||
| Q2 24 | $3.52 | $0.64 |
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 | $699.1M |
| Total DebtLower is stronger | $10.0B | $7.1M |
| Stockholders' EquityBook value | $3.9B | $1.9B |
| Total Assets | $26.4B | $4.4B |
| Debt / EquityLower = less leverage | 2.58× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $2.4B | $27.6M | ||
| Q3 25 | $2.0B | $13.5M | ||
| Q2 25 | $2.2B | $19.6M | ||
| Q1 25 | $1.6B | $24.1M | ||
| Q4 24 | $1.6B | $20.0M | ||
| Q3 24 | $1.3B | $23.0M | ||
| Q2 24 | $1.4B | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $10.0B | $246.6M | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.1B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.0B | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $3.9B | $2.1B | ||
| Q3 25 | $4.1B | $2.1B | ||
| Q2 25 | $3.9B | $2.0B | ||
| Q1 25 | $3.5B | $2.0B | ||
| Q4 24 | $3.1B | $2.0B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $2.8B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $26.4B | $3.6B | ||
| Q3 25 | $19.7B | $3.5B | ||
| Q2 25 | $20.4B | $3.4B | ||
| Q1 25 | $18.5B | $3.4B | ||
| Q4 24 | $18.0B | $3.3B | ||
| Q3 24 | $17.6B | $3.3B | ||
| Q2 24 | $16.2B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 2.58× | 0.12× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 2.37× | — | ||
| Q4 24 | 2.56× | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $760.3M | — |
| FCF MarginFCF / Revenue | 60.9% | — |
| Capex IntensityCapex / Revenue | 4.2% | 13.1% |
| Cash ConversionOCF / Net Profit | 3.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $812.7M | $195.4M | ||
| Q3 25 | $-378.9M | $51.5M | ||
| Q2 25 | $1.1B | $170.6M | ||
| Q1 25 | $-74.2M | $192.1M | ||
| Q4 24 | $648.7M | $177.3M | ||
| Q3 24 | $400.8M | $244.5M | ||
| Q2 24 | $540.9M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $760.3M | $-10.0M | ||
| Q3 25 | $-429.8M | $-67.2M | ||
| Q2 25 | $1.1B | $33.1M | ||
| Q1 25 | $-118.9M | $58.2M | ||
| Q4 24 | $604.6M | $-26.2M | ||
| Q3 24 | $355.0M | $77.9M | ||
| Q2 24 | $496.8M | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | 60.9% | -1.0% | ||
| Q3 25 | -36.7% | -7.1% | ||
| Q2 25 | 98.7% | 3.2% | ||
| Q1 25 | -11.8% | 6.0% | ||
| Q4 24 | 58.4% | -2.8% | ||
| Q3 24 | 34.5% | 6.8% | ||
| Q2 24 | 50.9% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 4.2% | 19.8% | ||
| Q3 25 | 4.3% | 12.5% | ||
| Q2 25 | 4.8% | 13.2% | ||
| Q1 25 | 4.5% | 13.7% | ||
| Q4 24 | 4.3% | 21.6% | ||
| Q3 24 | 4.4% | 14.6% | ||
| Q2 24 | 4.5% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 3.07× | 14.28× | ||
| Q3 25 | -1.36× | 1.20× | ||
| Q2 25 | 4.01× | 2.40× | ||
| Q1 25 | -0.30× | 9.55× | ||
| Q4 24 | 2.64× | 3.42× | ||
| Q3 24 | 1.45× | 3.31× | ||
| Q2 24 | 2.15× | 2.29× |
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% |
LBRT
Segment breakdown not available.
