Direct Answer
Corpay reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Vehicle Payments is the largest, with $2.1 billion of revenue (47% of the total), followed by Corporate Payments at $1.6 billion (36%). 49% of revenue came from the United States.
How Does Corpay Make Money?
No single line supplies a majority of revenue: the largest, Vehicle Payments, is 47%, which spreads Corpay's exposure across several demand drivers. Between fiscal 2024 and 2025, Corporate Payments grew fastest (+33.8%) and Lodging Payments slowest (-3.9%), so the revenue mix tilts toward Corporate Payments while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Vehicle Payments | $2.1 billion | $2.0 billion | 47.2% | 6.5% |
| Corporate Payments | $1.6 billion | $1.2 billion | 36.1% | 33.8% |
| Lodging Payments | $470 million | $489 million | 10.4% | -3.9% |
| Other Operating | $285 million | $255 million | 6.3% | 11.7% |
Which Corpay Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Vehicle Payments | $1.1 billion | 50.3% |
| Corporate Payments | $640 million | 39.1% |
| Lodging Payments | $195 million | 41.5% |
| Other Operating | $85 million | 29.8% |
Segment operating income is the profit measure Corpay reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Corpay more safely than against another company.
What Does Corpay Sell?
Corpay also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Vehicle Payments | $2.1 billion | $2.0 billion | 47.2% | 6.5% |
| Corporate Payments | $1.6 billion | $1.2 billion | 36.1% | 33.8% |
| Lodging Payments | $470 million | $489 million | 10.4% | -3.9% |
| Product and Service Other | $285 million | $255 million | 6.3% | 11.7% |
Where Does Corpay's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $2.2 billion | $2.1 billion | 48.7% | 6.1% |
| Other countries | $968 million | $760 million | 21.4% | 27.4% |
| Brazil | $713 million | $594 million | 15.8% | 20.0% |
| United Kingdom | $642 million | $542 million | 14.2% | 18.5% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Corpay's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Corpay reported in the segment note and revenue disclosures of its Form 10-K filed February 27, 2026 (accession 0001175454-26-000018), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Corpay's business segments?
In its fiscal 2025 Form 10-K, Corpay reports revenue for Vehicle Payments, Corporate Payments, Lodging Payments and Other Operating.
Which part of Corpay brings in the most revenue?
Vehicle Payments, with $2.1 billion of revenue in fiscal 2025, or 47% of the total.
How much of Corpay's revenue comes from outside the United States?
51% in fiscal 2025, by the geographic breakdown Corpay reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.