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Side-by-side financial comparison of Corpay (CPAY) and ON Semiconductor (ON). Click either name above to swap in a different company.
ON Semiconductor is the larger business by last-quarter revenue ($1.5B vs $1.2B, roughly 1.2× Corpay). Corpay runs the higher net margin — 21.2% vs 12.0%, a 9.2% gap on every dollar of revenue. On growth, Corpay posted the faster year-over-year revenue change (20.7% vs 4.7%). Corpay produced more free cash flow last quarter ($760.3M vs $217.2M). Over the past eight quarters, Corpay's revenue compounded faster (15.5% CAGR vs -9.9%).
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.
Fairchild Semiconductor International, Inc. was an American semiconductor company based in San Jose, California. It was founded in 1957 as a division of Fairchild Camera and Instrument by the "traitorous eight" who defected from Shockley Semiconductor Laboratory. It became a pioneer in the manufacturing of transistors and of integrated circuits. Schlumberger bought the firm in 1979 and sold it to National Semiconductor in 1987; Fairchild was spun off as an independent company again in 1997. I...
CPAY vs ON — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.5B |
| Net Profit | $264.5M | $181.8M |
| Gross Margin | — | 38.5% |
| Operating Margin | 45.2% | 57.9% |
| Net Margin | 21.2% | 12.0% |
| Revenue YoY | 20.7% | 4.7% |
| Net Profit YoY | 7.5% | — |
| EPS (diluted) | $3.74 | $0.45 |
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 | — | $1.5B | ||
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.0B | $1.8B | ||
| Q2 24 | $975.7M | $1.7B |
| Q1 26 | — | $181.8M | ||
| Q4 25 | $264.5M | $255.0M | ||
| Q3 25 | $277.9M | $170.3M | ||
| Q2 25 | $284.2M | $-486.1M | ||
| Q1 25 | $243.2M | — | ||
| Q4 24 | $246.0M | $379.9M | ||
| Q3 24 | $276.4M | $401.7M | ||
| Q2 24 | $251.6M | $338.2M |
| Q1 26 | — | 38.5% | ||
| Q4 25 | — | 37.9% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 20.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 45.2% | ||
| Q3 24 | — | 45.4% | ||
| Q2 24 | — | 45.2% |
| Q1 26 | — | 57.9% | ||
| Q4 25 | 45.2% | 17.0% | ||
| Q3 25 | 44.6% | 13.2% | ||
| Q2 25 | 43.5% | -39.7% | ||
| Q1 25 | 42.5% | — | ||
| Q4 24 | 47.2% | 23.7% | ||
| Q3 24 | 45.5% | 25.3% | ||
| Q2 24 | 44.4% | 22.4% |
| Q1 26 | — | 12.0% | ||
| Q4 25 | 21.2% | 16.4% | ||
| Q3 25 | 23.7% | 11.6% | ||
| Q2 25 | 25.8% | -33.6% | ||
| Q1 25 | 24.2% | — | ||
| Q4 24 | 23.8% | 22.1% | ||
| Q3 24 | 26.9% | 22.8% | ||
| Q2 24 | 25.8% | 19.5% |
| Q1 26 | — | $0.45 | ||
| Q4 25 | $3.74 | $0.63 | ||
| Q3 25 | $3.91 | $0.41 | ||
| Q2 25 | $3.98 | $-1.15 | ||
| Q1 25 | $3.40 | — | ||
| Q4 24 | $3.43 | $0.88 | ||
| Q3 24 | $3.90 | $0.93 | ||
| Q2 24 | $3.52 | $0.78 |
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 | $2.4B |
| Total DebtLower is stronger | $10.0B | $3.0B |
| Stockholders' EquityBook value | $3.9B | $7.3B |
| Total Assets | $26.4B | $12.0B |
| Debt / EquityLower = less leverage | 2.58× | 0.41× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.4B | ||
| Q4 25 | $2.4B | $2.9B | ||
| Q3 25 | $2.0B | $2.8B | ||
| Q2 25 | $2.2B | $3.0B | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | $3.0B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $1.4B | $2.7B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $10.0B | $3.4B | ||
| Q3 25 | $8.1B | $3.4B | ||
| Q2 25 | $8.1B | $3.4B | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.0B | $3.4B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $3.4B |
| Q1 26 | — | $7.3B | ||
| Q4 25 | $3.9B | $7.9B | ||
| Q3 25 | $4.1B | $7.9B | ||
| Q2 25 | $3.9B | $8.0B | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.1B | $8.8B | ||
| Q3 24 | $3.1B | $8.6B | ||
| Q2 24 | $2.8B | $8.3B |
| Q1 26 | — | $12.0B | ||
| Q4 25 | $26.4B | $13.0B | ||
| Q3 25 | $19.7B | $13.1B | ||
| Q2 25 | $20.4B | $13.3B | ||
| Q1 25 | $18.5B | — | ||
| Q4 24 | $18.0B | $14.1B | ||
| Q3 24 | $17.6B | $13.9B | ||
| Q2 24 | $16.2B | $13.7B |
| Q1 26 | — | 0.41× | ||
| Q4 25 | 2.58× | 0.43× | ||
| Q3 25 | 1.99× | 0.43× | ||
| Q2 25 | 2.07× | 0.42× | ||
| Q1 25 | 2.37× | — | ||
| Q4 24 | 2.56× | 0.38× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.41× |
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 | $239.1M |
| Free Cash FlowOCF − Capex | $760.3M | $217.2M |
| FCF MarginFCF / Revenue | 60.9% | 14.4% |
| Capex IntensityCapex / Revenue | 4.2% | — |
| Cash ConversionOCF / Net Profit | 3.07× | 1.32× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $239.1M | ||
| Q4 25 | $812.7M | $418.7M | ||
| Q3 25 | $-378.9M | $184.3M | ||
| Q2 25 | $1.1B | $602.3M | ||
| Q1 25 | $-74.2M | — | ||
| Q4 24 | $648.7M | $579.7M | ||
| Q3 24 | $400.8M | $465.8M | ||
| Q2 24 | $540.9M | $362.2M |
| Q1 26 | — | $217.2M | ||
| Q4 25 | $760.3M | $372.4M | ||
| Q3 25 | $-429.8M | $106.1M | ||
| Q2 25 | $1.1B | $454.7M | ||
| Q1 25 | $-118.9M | — | ||
| Q4 24 | $604.6M | $434.8M | ||
| Q3 24 | $355.0M | $293.6M | ||
| Q2 24 | $496.8M | $207.7M |
| Q1 26 | — | 14.4% | ||
| Q4 25 | 60.9% | 24.0% | ||
| Q3 25 | -36.7% | 7.2% | ||
| Q2 25 | 98.7% | 31.5% | ||
| Q1 25 | -11.8% | — | ||
| Q4 24 | 58.4% | 25.2% | ||
| Q3 24 | 34.5% | 16.7% | ||
| Q2 24 | 50.9% | 12.0% |
| Q1 26 | — | — | ||
| Q4 25 | 4.2% | 3.0% | ||
| Q3 25 | 4.3% | 5.3% | ||
| Q2 25 | 4.8% | 10.2% | ||
| Q1 25 | 4.5% | — | ||
| Q4 24 | 4.3% | 8.4% | ||
| Q3 24 | 4.4% | 9.8% | ||
| Q2 24 | 4.5% | 8.9% |
| Q1 26 | — | 1.32× | ||
| Q4 25 | 3.07× | 1.64× | ||
| Q3 25 | -1.36× | 1.08× | ||
| Q2 25 | 4.01× | — | ||
| Q1 25 | -0.30× | — | ||
| Q4 24 | 2.64× | 1.53× | ||
| Q3 24 | 1.45× | 1.16× | ||
| Q2 24 | 2.15× | 1.07× |
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% |
ON
Segment breakdown not available.
