vs
Side-by-side financial comparison of Corpay (CPAY) and PLEXUS CORP (PLXS). 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 1.1× PLEXUS CORP). Corpay runs the higher net margin — 21.2% vs 4.3%, a 16.9% gap on every dollar of revenue. On growth, Corpay posted the faster year-over-year revenue change (20.7% vs 18.7%). Over the past eight quarters, Corpay's revenue compounded faster (15.5% CAGR vs 7.2%).
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.
Plex Systems, Inc. is an American software company based in Troy, Michigan. The company develops and markets the Plex Manufacturing Cloud, a software as a service (SaaS) or cloud computing ERP for manufacturing.
CPAY vs PLXS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.2B |
| Net Profit | $264.5M | $49.8M |
| Gross Margin | — | 10.2% |
| Operating Margin | 45.2% | 5.3% |
| Net Margin | 21.2% | 4.3% |
| Revenue YoY | 20.7% | 18.7% |
| Net Profit YoY | 7.5% | 27.5% |
| EPS (diluted) | $3.74 | $1.82 |
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 | — | $1.1B | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $975.7M | — |
| Q1 26 | — | $41.2M | ||
| Q4 25 | $264.5M | — | ||
| Q3 25 | $277.9M | — | ||
| Q2 25 | $284.2M | — | ||
| Q1 25 | $243.2M | — | ||
| Q4 24 | $246.0M | — | ||
| Q3 24 | $276.4M | — | ||
| Q2 24 | $251.6M | — |
| Q1 26 | — | 9.9% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 45.2% | — | ||
| Q3 25 | 44.6% | — | ||
| Q2 25 | 43.5% | — | ||
| Q1 25 | 42.5% | — | ||
| Q4 24 | 47.2% | — | ||
| Q3 24 | 45.5% | — | ||
| Q2 24 | 44.4% | — |
| Q1 26 | — | 3.8% | ||
| Q4 25 | 21.2% | — | ||
| Q3 25 | 23.7% | — | ||
| Q2 25 | 25.8% | — | ||
| Q1 25 | 24.2% | — | ||
| Q4 24 | 23.8% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 25.8% | — |
| Q1 26 | — | $1.51 | ||
| Q4 25 | $3.74 | — | ||
| Q3 25 | $3.91 | — | ||
| Q2 25 | $3.98 | — | ||
| Q1 25 | $3.40 | — | ||
| Q4 24 | $3.43 | — | ||
| Q3 24 | $3.90 | — | ||
| Q2 24 | $3.52 | — |
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 | $303.1M |
| Total DebtLower is stronger | $10.0B | — |
| Stockholders' EquityBook value | $3.9B | $1.5B |
| Total Assets | $26.4B | $3.4B |
| Debt / EquityLower = less leverage | 2.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $248.8M | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.4B | — |
| Q1 26 | — | — | ||
| Q4 25 | $10.0B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.1B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $2.8B | — |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $26.4B | — | ||
| Q3 25 | $19.7B | — | ||
| Q2 25 | $20.4B | — | ||
| Q1 25 | $18.5B | — | ||
| Q4 24 | $18.0B | — | ||
| Q3 24 | $17.6B | — | ||
| Q2 24 | $16.2B | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.58× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 2.37× | — | ||
| Q4 24 | 2.56× | — | ||
| 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% | — |
| 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 | — | ||
| Q3 25 | $-378.9M | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $-74.2M | — | ||
| Q4 24 | $648.7M | — | ||
| Q3 24 | $400.8M | — | ||
| Q2 24 | $540.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | $760.3M | — | ||
| Q3 25 | $-429.8M | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $-118.9M | — | ||
| Q4 24 | $604.6M | — | ||
| Q3 24 | $355.0M | — | ||
| Q2 24 | $496.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 60.9% | — | ||
| Q3 25 | -36.7% | — | ||
| Q2 25 | 98.7% | — | ||
| Q1 25 | -11.8% | — | ||
| Q4 24 | 58.4% | — | ||
| Q3 24 | 34.5% | — | ||
| Q2 24 | 50.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.2% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 4.5% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 4.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.07× | — | ||
| Q3 25 | -1.36× | — | ||
| Q2 25 | 4.01× | — | ||
| Q1 25 | -0.30× | — | ||
| Q4 24 | 2.64× | — | ||
| Q3 24 | 1.45× | — | ||
| Q2 24 | 2.15× | — |
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% |
PLXS
| Asia-Pacific | $652.0M | 56% |
| Americas | $397.0M | 34% |
| Europe, Middle East and Africa | $116.0M | 10% |
