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Side-by-side financial comparison of Corpay (CPAY) and LCI INDUSTRIES (LCII). Click either name above to swap in a different company.
Corpay is the larger business by last-quarter revenue ($1.2B vs $932.7M, roughly 1.3× LCI INDUSTRIES). Corpay runs the higher net margin — 21.2% vs 2.0%, a 19.2% gap on every dollar of revenue. On growth, Corpay posted the faster year-over-year revenue change (20.7% vs 16.1%). Corpay produced more free cash flow last quarter ($760.3M vs $64.3M). Over the past eight quarters, Corpay's revenue compounded faster (15.5% CAGR vs -1.8%).
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.
Lucky Core Industries Limited, formerly known as ICI Pakistan, is a Pakistani conglomerate company headquartered in Karachi. It manufactures polyester, pharmaceutical, agrochemical, soda ash, and veterinary medicine.
CPAY vs LCII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $932.7M |
| Net Profit | $264.5M | $18.7M |
| Gross Margin | — | 22.1% |
| Operating Margin | 45.2% | 3.8% |
| Net Margin | 21.2% | 2.0% |
| Revenue YoY | 20.7% | 16.1% |
| Net Profit YoY | 7.5% | 95.7% |
| EPS (diluted) | $3.74 | $0.79 |
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 | $932.7M | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.0B | $1.0B | ||
| Q4 24 | $1.0B | $803.1M | ||
| Q3 24 | $1.0B | $915.5M | ||
| Q2 24 | $975.7M | $1.1B | ||
| Q1 24 | $935.3M | $968.0M |
| Q4 25 | $264.5M | $18.7M | ||
| Q3 25 | $277.9M | $62.5M | ||
| Q2 25 | $284.2M | $57.6M | ||
| Q1 25 | $243.2M | $49.4M | ||
| Q4 24 | $246.0M | $9.5M | ||
| Q3 24 | $276.4M | $35.6M | ||
| Q2 24 | $251.6M | $61.2M | ||
| Q1 24 | $229.8M | $36.5M |
| Q4 25 | — | 22.1% | ||
| Q3 25 | — | 24.4% | ||
| Q2 25 | — | 24.4% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 25.3% | ||
| Q1 24 | — | 23.1% |
| Q4 25 | 45.2% | 3.8% | ||
| Q3 25 | 44.6% | 7.3% | ||
| Q2 25 | 43.5% | 7.9% | ||
| Q1 25 | 42.5% | 7.8% | ||
| Q4 24 | 47.2% | 2.0% | ||
| Q3 24 | 45.5% | 5.9% | ||
| Q2 24 | 44.4% | 8.6% | ||
| Q1 24 | 42.5% | 6.0% |
| Q4 25 | 21.2% | 2.0% | ||
| Q3 25 | 23.7% | 6.0% | ||
| Q2 25 | 25.8% | 5.2% | ||
| Q1 25 | 24.2% | 4.7% | ||
| Q4 24 | 23.8% | 1.2% | ||
| Q3 24 | 26.9% | 3.9% | ||
| Q2 24 | 25.8% | 5.8% | ||
| Q1 24 | 24.6% | 3.8% |
| Q4 25 | $3.74 | $0.79 | ||
| Q3 25 | $3.91 | $2.55 | ||
| Q2 25 | $3.98 | $2.29 | ||
| Q1 25 | $3.40 | $1.94 | ||
| Q4 24 | $3.43 | $0.37 | ||
| Q3 24 | $3.90 | $1.39 | ||
| Q2 24 | $3.52 | $2.40 | ||
| Q1 24 | $3.12 | $1.44 |
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 | $222.6M |
| Total DebtLower is stronger | $10.0B | $945.2M |
| Stockholders' EquityBook value | $3.9B | $1.4B |
| Total Assets | $26.4B | $3.2B |
| Debt / EquityLower = less leverage | 2.58× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $222.6M | ||
| Q3 25 | $2.0B | $199.7M | ||
| Q2 25 | $2.2B | $191.9M | ||
| Q1 25 | $1.6B | $231.2M | ||
| Q4 24 | $1.6B | $165.8M | ||
| Q3 24 | $1.3B | $161.2M | ||
| Q2 24 | $1.4B | $130.4M | ||
| Q1 24 | $1.3B | $22.6M |
| Q4 25 | $10.0B | $945.2M | ||
| Q3 25 | $8.1B | $947.8M | ||
| Q2 25 | $8.1B | $948.0M | ||
| Q1 25 | $8.2B | $938.3M | ||
| Q4 24 | $8.0B | $757.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | — | $829.7M | ||
| Q1 24 | — | $855.3M |
| Q4 25 | $3.9B | $1.4B | ||
| Q3 25 | $4.1B | $1.4B | ||
| Q2 25 | $3.9B | $1.4B | ||
| Q1 25 | $3.5B | $1.4B | ||
| Q4 24 | $3.1B | $1.4B | ||
| Q3 24 | $3.1B | $1.4B | ||
| Q2 24 | $2.8B | $1.4B | ||
| Q1 24 | $3.3B | $1.4B |
| Q4 25 | $26.4B | $3.2B | ||
| Q3 25 | $19.7B | $3.2B | ||
| Q2 25 | $20.4B | $3.2B | ||
| Q1 25 | $18.5B | $3.1B | ||
| Q4 24 | $18.0B | $2.9B | ||
| Q3 24 | $17.6B | $3.0B | ||
| Q2 24 | $16.2B | $3.0B | ||
| Q1 24 | $15.8B | $3.0B |
| Q4 25 | 2.58× | 0.69× | ||
| Q3 25 | 1.99× | 0.70× | ||
| Q2 25 | 2.07× | 0.68× | ||
| Q1 25 | 2.37× | 0.69× | ||
| Q4 24 | 2.56× | 0.55× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | — | 0.63× |
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 | $78.9M |
| Free Cash FlowOCF − Capex | $760.3M | $64.3M |
| FCF MarginFCF / Revenue | 60.9% | 6.9% |
| Capex IntensityCapex / Revenue | 4.2% | 1.6% |
| Cash ConversionOCF / Net Profit | 3.07× | 4.22× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $278.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $812.7M | $78.9M | ||
| Q3 25 | $-378.9M | $97.2M | ||
| Q2 25 | $1.1B | $112.2M | ||
| Q1 25 | $-74.2M | $42.7M | ||
| Q4 24 | $648.7M | $106.6M | ||
| Q3 24 | $400.8M | $78.4M | ||
| Q2 24 | $540.9M | $192.9M | ||
| Q1 24 | $350.2M | $-7.7M |
| Q4 25 | $760.3M | $64.3M | ||
| Q3 25 | $-429.8M | $80.9M | ||
| Q2 25 | $1.1B | $99.5M | ||
| Q1 25 | $-118.9M | $33.7M | ||
| Q4 24 | $604.6M | $95.7M | ||
| Q3 24 | $355.0M | $68.3M | ||
| Q2 24 | $496.8M | $180.2M | ||
| Q1 24 | $309.0M | $-16.3M |
| Q4 25 | 60.9% | 6.9% | ||
| Q3 25 | -36.7% | 7.8% | ||
| Q2 25 | 98.7% | 9.0% | ||
| Q1 25 | -11.8% | 3.2% | ||
| Q4 24 | 58.4% | 11.9% | ||
| Q3 24 | 34.5% | 7.5% | ||
| Q2 24 | 50.9% | 17.1% | ||
| Q1 24 | 33.0% | -1.7% |
| Q4 25 | 4.2% | 1.6% | ||
| Q3 25 | 4.3% | 1.6% | ||
| Q2 25 | 4.8% | 1.2% | ||
| Q1 25 | 4.5% | 0.9% | ||
| Q4 24 | 4.3% | 1.4% | ||
| Q3 24 | 4.4% | 1.1% | ||
| Q2 24 | 4.5% | 1.2% | ||
| Q1 24 | 4.4% | 0.9% |
| Q4 25 | 3.07× | 4.22× | ||
| Q3 25 | -1.36× | 1.55× | ||
| Q2 25 | 4.01× | 1.95× | ||
| Q1 25 | -0.30× | 0.86× | ||
| Q4 24 | 2.64× | 11.17× | ||
| Q3 24 | 1.45× | 2.20× | ||
| Q2 24 | 2.15× | 3.15× | ||
| Q1 24 | 1.52× | -0.21× |
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% |
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
