FLEETCOR is an independent global provider of specialized payment products and services including fleet cards, food cards, corporate lodging discount cards and other specialized payment services for businesses throughout the world. The Company sells a range of customized fleet and lodging payment programs directly and indirectly to its customers through partners, such as major oil companies, leasing companies and petroleum marketers. It provides its customers with various card products that typically function like a charge card to purchase fuel, lodging, food, toll, transportation and related products and services at participating locations. FLEETCOR supports these cards with specialized issuing, processing and information services that enable it to manage card accounts, facilitate the routing, authorization, clearing and settlement of transactions, and provide value-added functionality and data, including customizable card-level controls and productivity analysis tools.

FleetCor was founded in 2000 and is headquartered in Norcross, US

Chief Financial Officer

President - International Corporate Development

EVP of Corporate Development

FleetCor has offices in Norcross, Wichita, Atlanta, West Midlands and in 3 other locations

Norcross, US (HQ)

5445 Triangle Pkwy NW, Suite 400

London, GB

64-65 Vincent Square

Praha , CZ

5 497 Chlumčanského

North Yorkshire, GB

St. James Business Park 9 Grimbald Crag Cl

West Midlands, GB

Queen St

Atlanta, US

1200 Lake Hearn Dr NE, Suite 500

FleetCor's revenue was reported to be $1.8 b in FY, 2016

USD

## Net income (Q1, 2017) | 123.7 m |

## Market capitalization (17-Aug-2017) | 13.4 b |

## Cash (31-Mar-2017) | 546.6 m |

FleetCor's current market capitalization is $13.4 b.

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 895.2 m | 1.2 b | 1.7 b | 1.8 b |

## Revenue growth, % | 34% | 42% | 8% | |

## Gross profit | 885.9 m | 1.2 b | 1.6 b | |

## Gross profit Margin, % | 99% | 99% | 95% | |

## General and administrative expense | 283.6 m | |||

## Operating expense total | 283.6 m | |||

## EBIT | 420.6 m | 565.4 m | 725.2 m | 754.2 m |

## EBIT margin, % | 47% | 47% | 43% | 41% |

## Interest expense | 71.3 m | 71.9 m | ||

## Pre tax profit | 536 m | 642.9 m | ||

## Income tax expense | 173.6 m | 190.5 m | ||

## Net Income | 284.5 m | 368.7 m | 362.4 m | 452.4 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 404.6 m | 451.5 m | 414.3 m | 417.9 m | |||||

## General and administrative expense | 63 m | 64.4 m | 67.6 m | 63.6 m | |||||

## Operating expense total | 63 m | 64.4 m | 67.6 m | 63.6 m | |||||

## EBIT | 169.2 m | 188.5 m | 176 m | 171.2 m | |||||

## EBIT margin, % | 42% | 42% | 42% | 41% | |||||

## Interest expense | 18.1 m | 17.2 m | 16.2 m | 15.9 m | |||||

## Pre tax profit | 145.3 m | 165.4 m | 156.9 m | 162.3 m | |||||

## Income tax expense | 46.6 m | 48.6 m | 46.9 m | 48.2 m | |||||

## Net Income | 163.7 m | 259.2 m | 94.2 m | 192.8 m | 309.6 m | 110 m | 224.2 m | 357 m | 123.7 m |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 338.1 m | 477.1 m | 447.2 m | 475 m |

## Accounts Receivable | 573.4 m | 673.8 m | 639 m | 164.9 m |

## Inventories | 40.1 m | 74.9 m | 68.7 m | 90.9 m |

## Current Assets | 1.4 b | 2.1 b | 1.9 b | 2.5 b |

## Goodwill | 1.6 b | 3.8 b | 3.5 b | 4.2 b |

## Total Assets | 3.9 b | 8.7 b | 7.9 b | 9.6 b |

## Accounts Payable | 467.2 m | 716.7 m | 669.5 m | 1.2 b |

## Current Liabilities | 1.9 b | 2.9 b | 2.2 b | 3.3 b |

## Non-Current Liabilities | 779.4 m | 3 b | 2.8 b | 3.2 b |

## Total Liabilities | 2.7 b | 5.9 b | 5.1 b | 6.5 b |

## Additional Paid-in Capital | 631.7 m | 1.9 b | 2 b | 2.1 b |

## Retained Earnings | 1 b | 1.4 b | 1.8 b | 2.2 b |

## Total Equity | 1.2 b | 2.8 b | 2.8 b | 3.1 b |

## Financial Leverage | 3.2 x | 3.2 x | 2.8 x | 3.1 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 297.6 m | 304.1 m | 379.4 m | 384.2 m | 422.4 m | 399.3 m | 493.1 m | 405.4 m | 546.6 m |

## Accounts Receivable | 688.5 m | 715.7 m | 773.5 m | 811.5 m | 732 m | 880.8 m | 908.4 m | 1.3 b | 1.4 b |

## Current Assets | 1.5 b | 1.5 b | 2.1 b | 2.2 b | 2 b | 2.1 b | 2.4 b | 2.7 b | 2.9 b |

## Goodwill | 1.6 b | 1.6 b | 3.8 b | 3.8 b | 3.7 b | 3.6 b | 3.6 b | 4.2 b | 4.2 b |

## Total Assets | 4.3 b | 4.2 b | 8.5 b | 8.6 b | 8.3 b | 8 b | 8.3 b | 9.9 b | 10 b |

## Accounts Payable | 573.5 m | 612.7 m | 775.9 m | 815.5 m | 760.4 m | 796.8 m | 904.2 m | 1.2 b | 1.2 b |

## Current Liabilities | 2 b | 1.9 b | 2.8 b | 2.7 b | 2.4 b | 2.2 b | 2.4 b | 3.5 b | 3.5 b |

## Non-Current Liabilities | 749.9 m | 736.9 m | 3 b | 2.9 b | 2.9 b | 2.8 b | 2.8 b | 3.3 b | 3.2 b |

## Additional Paid-in Capital | 676.9 m | 733.1 m | 1.9 b | 1.9 b | 1.9 b | 2 b | 2 b | 2.1 b | 2.1 b |

## Retained Earnings | 1.2 b | 1.3 b | 1.5 b | 1.6 b | 1.7 b | 1.9 b | 2 b | 2.1 b | 2.3 b |

## Total Equity | 1.5 b | 1.6 b | 2.8 b | 2.9 b | 3 b | 3 b | 3.1 b | 3.2 b | 3.3 b |

## Financial Leverage | 2.9 x | 2.7 x | 3.1 x | 2.9 x | 2.8 x | 2.7 x | 2.7 x | 3.1 x | 3 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 284.5 m | 368.7 m | 362.4 m | 452.4 m |

## Depreciation and Amortization | 66.2 m | 107.2 m | 190.2 m | 203.3 m |

## Accounts Receivable | (45 m) | 246 m | 40 m | (338.8 m) |

## Inventories | (74 k) | 2.8 m | (13 m) | 5.3 m |

## Cash From Operating Activities | 375.7 m | 608.3 m | 754.6 m | 705.9 m |

## Purchases of PP&E | (20.8 m) | (27.1 m) | (41.9 m) | (59 m) |

## Cash From Investing Activities | (749.1 m) | (2.6 b) | (99.4 m) | (1.4 b) |

## Short-term Borrowings | (28.1 m) | (546.9 m) | (103.5 m) | (118.5 m) |

## Cash From Financing Activities | 435.7 m | 2.2 b | (648.1 m) | 754 m |

## Interest Paid | 25.9 m | 29.1 m | 72.5 m | 70.3 m |

## Income Taxes Paid | 99.3 m | 79.1 m | 83.4 m | 102 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 163.7 m | 259.2 m | 94.2 m | 192.8 m | 309.6 m | 110 m | 224.2 m | 357 m | 123.7 m |

## Depreciation and Amortization | 46.2 m | 70.5 m | 47.3 m | 95.3 m | 143 m | 35.3 m | 82.4 m | 138.2 m | 63.3 m |

## Accounts Receivable | (197.7 m) | (137.9 m) | (114.4 m) | (233.5 m) | (71.3 m) | (182.8 m) | (392.5 m) | (527.3 m) | (236.6 m) |

## Cash From Operating Activities | 157.7 m | 317.5 m | 67.4 m | 198.4 m | 524.5 m | 121.5 m | 208.9 m | 404.3 m | 54.2 m |

## Purchases of PP&E | (11.6 m) | (18.3 m) | (8.1 m) | (16.2 m) | (29.5 m) | (11.7 m) | (24.8 m) | (41.9 m) | (14.8 m) |

## Cash From Investing Activities | (201.4 m) | (280.2 m) | (9 m) | (24.2 m) | (46.5 m) | (20.7 m) | (37.9 m) | (1.4 b) | (21.1 m) |

## Short-term Borrowings | (13.8 m) | (20.6 m) | (25.9 m) | (51.8 m) | (77.6 m) | (25.9 m) | (51.8 m) | (85.1 m) | (33.4 m) |

## Cash From Financing Activities | 1.8 m | (56.2 m) | (142.6 m) | (253.3 m) | (502.3 m) | (157.4 m) | (118.3 m) | 976.4 m | 19.1 m |

## Interest Paid | 12.8 m | 19.2 m | 21.3 m | 38.9 m | 56 m | 15.3 m | 30.4 m | 48.5 m | 33.2 m |

## Income Taxes Paid | 52.7 m | 63.6 m | 16 m | 30.2 m | 47.3 m | 11.8 m | 64.3 m | 79.6 m | 88.5 m |

Y, 2017 | |
---|---|

## Financial Leverage | 3 x |

Source: 20 public H-1B filings from FleetCor