Paylocity Holding Corporation (PCTY) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.61	$1.84	+14.3%	—	$444.7M	—
Q3 26	$2.58	$2.89	+12.0%	—	$502.3M	—
Q2 26	$1.6	$1.85	+15.6%	—	$416.1M	—
Q1 26	$1.57	$1.75	+11.5%	—	$408.2M	—
Q4 25	$1.35	$1.56	+15.6%	—	$400.7M	—
Q3 25	$2.12	$2.43	+14.6%	—	$454.5M	—
Q2 25	$1.43	$1.52	+6.3%	—	$377M	—
Q1 25	$1.41	$1.66	+17.7%	—	$317.6M	—
Q4 24	$1.29	$1.48	+14.7%	—	$357.3M	—
Q3 24	$1.98	$2.21	+11.6%	—	$401.3M	—
Q2 24	$1.28	$1.49	+16.4%	—	$326.4M	—
Q1 24	$1.14	$1.4	+22.8%	—	$363M	—
Q4 23	$1.15	$1.32	+14.8%	—	$308.5M	—
Q3 23	$1.53	$1.74	+13.7%	—	$339.9M	—
Q2 23	$0.73	$1.12	+53.4%	—	$273M	—
Q1 23	$0.65	$0.98	+50.8%	—	$253.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	—	—	—	$1.8B	—
FY25	—	—	—	—	$1.6B	—
FY24	—	$3.68	—	—	$1.4B	—
FY23	—	$2.53	—	—	$1.2B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$300M	$377.5M	$467.6M	$561.3M	$635.6M	$852.7M	$1.2B	$1.4B	$1.6B	$1.8B
YoY change	+30%	+25.8%	+23.9%	+20%	+13.2%	+34.1%	+37.8%	+19.4%	+13.7%	+11%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	300M	377.5M	467.6M	561.3M	635.6M	852.7M	1.2B	1.4B	1.6B	1.8B
Cost of revenue	124M	149.2M	153.9M	182M	219.3M	287M	367M	441.7M	498.2M	545.8M
Gross profit	176M	228.3M	313.8M	379.3M	416.3M	565.6M	807.6M	960.8M	1.1B	1.2B
Gross margin	58.7%	60.5%	67.1%	67.6%	65.5%	66.3%	68.8%	68.5%	68.8%	69.2%
Research & development	29.1M	37.6M	50.3M	62.8M	76.7M	102.9M	164M	178.3M	205.9M	221.4M
Selling, general & administrative	139.6M	174.7M	207.2M	250.4M	281.6M	378.1M	488.5M	522.4M	587.1M	618.1M
Operating expenses	168.7M	212.4M	257.6M	313.1M	358.3M	481.1M	652.5M	700.7M	793M	839.5M
Operating income	7.3M	15.9M	56.2M	66.2M	58M	84.6M	155M	260.1M	304M	386M
Operating margin	2.43%	4.22%	12%	11.8%	9.13%	9.92%	13.2%	18.5%	19.1%	21.8%
Non-operating income, net	73K	802K	1.8M	947K	-939K	-997K	3.6M	16.9M	5M	1.3M
Pretax income	7.4M	16.8M	58M	67.1M	57.1M	83.6M	158.6M	277M	309.1M	387.3M
Income tax	651K	-21.8M	4.2M	2.7M	-13.7M	-7.2M	17.8M	70.2M	81.9M	117.6M
Net income	6.7M	38.6M	53.8M	64.5M	70.8M	90.8M	140.8M	206.8M	227.1M	269.7M
Net margin	2.24%	10.2%	11.5%	11.5%	11.1%	10.6%	12%	14.7%	14.2%	15.2%
EBITDA	28.3M	46.2M	90.8M	104.1M	101M	134.8M	215.9M	336.5M	403.7M	497.8M
EPS	0.13	0.74	1.02	1.2	1.3	1.65	2.53	3.68	—	—
Diluted EPS	0.12	0.7	0.97	1.15	1.26	1.61	2.49	3.63	—	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	363M	326.4M	401.3M	357.3M	317.6M	377M	454.5M	400.7M	408.2M	416.1M	502.3M	444.7M
Cost of revenue	115M	107.4M	116M	116.9M	101.5M	124.5M	129.9M	128.9M	128.4M	134M	139.1M	144.3M
Gross profit	248M	219M	285.3M	240.4M	216.1M	252.4M	324.7M	271.9M	279.8M	282.1M	363.2M	300.4M
Gross margin	68.3%	67.1%	71.1%	67.3%	68.1%	67%	71.4%	67.8%	68.5%	67.8%	72.3%	67.5%
Research & development	47.3M	46.1M	43.4M	44.2M	44.6M	56.2M	51.4M	51M	55.6M	57.7M	52.5M	55.5M
Selling, general & administrative	136.6M	123.1M	135.6M	133.3M	130.3M	149.7M	146.3M	154.6M	150M	154M	153.7M	160.4M
Operating expenses	183.9M	169.3M	179M	177.5M	174.9M	205.8M	197.7M	205.6M	205.6M	211.8M	206.2M	216M
Operating income	64.1M	49.7M	106.3M	62.9M	41.2M	46.6M	127M	66.2M	74.2M	70.4M	157M	84.4M
Operating margin	17.7%	15.2%	26.5%	17.6%	13%	12.4%	27.9%	16.5%	18.2%	16.9%	31.3%	19%
Non-operating income, net	4.7M	3.8M	4.3M	5.6M	3.2M	193K	-468K	572K	702K	-204K	59K	753K
Pretax income	68.9M	53.5M	110.6M	68.5M	44.4M	46.8M	126.6M	66.8M	74.9M	70.2M	157M	85.2M
Income tax	19.3M	15.4M	25.3M	19.7M	9.9M	9.4M	35.1M	18.2M	26.9M	20M	45.8M	24.9M
Net income	49.6M	38.1M	85.3M	48.8M	34.5M	37.5M	91.5M	48.6M	48M	50.2M	111.3M	60.3M
Net margin	13.7%	11.7%	21.3%	13.7%	10.9%	9.94%	20.1%	12.1%	11.8%	12.1%	22.1%	13.6%
EBITDA	81.3M	68.1M	126.6M	83.6M	62.7M	72.3M	153M	92.7M	101.7M	98.2M	184.3M	113.7M
EPS	0.89	0.68	1.51	0.87	0.89	0.67	1.64	0.88	0.87	0.93	2.07	1.13
Diluted EPS	0.88	0.67	1.5	0.86	0.88	0.66	1.61	0.86	0.86	0.92	2.05	1.12

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	2.3B	3.1B	5B	7.8B	10.4B	9.6B	10.3B	7.4B	—	—	7.6B
Enterprise value	2.2B	2.9B	4.8B	7.7B	10.2B	9.5B	10.1B	7.1B	—	—	7.5B
Shares outstanding	51.4M	52.4M	52.9M	53.5M	54.3M	55M	55.7M	56.2M	—	—	—

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	345.8	79.9	92.2	121.2	146.3	105.7	73	35.8	—	—	29.4
P/S	7.74	8.17	10.6	13.9	16.3	11.3	8.75	5.28	—	—	4.33
P/B	15.7	14.5	16.1	19.9	21.7	15.6	12.2	7.17	—	—	6.55
EV/EBITDA	78.4	63.9	52.9	74.1	101.3	70.7	46.6	21	—	—	17.4
EV/Sales	7.4	7.81	10.3	13.7	16.1	11.2	8.57	5.04	—	—	4.21
Earnings yield	0.29%	1.25%	1.08%	0.83%	0.68%	0.95%	1.37%	2.79%	—	—	3.41%
FCF yield	1.16%	1.96%	1.68%	0.9%	0.84%	1.07%	2.1%	4.13%	—	—	4.75%
PEG	—	—	—	—	—	—	—	—	—	—	1.03

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	58.7%	60.5%	67.1%	67.6%	65.5%	66.3%	68.8%	68.5%	68.8%	69.2%	67.5%
Operating margin	2.43%	4.22%	12%	11.8%	9.13%	9.92%	13.2%	18.5%	19.1%	21.8%	19.1%
Net margin	2.24%	10.2%	11.5%	11.5%	11.1%	10.6%	12%	14.7%	14.2%	15.2%	15.2%
ROE	4.55%	18.1%	17.5%	16.4%	14.8%	14.8%	16.7%	20%	18.4%	22.1%	22%
ROA	0.59%	2.56%	2.98%	3.25%	2.93%	1.89%	3.81%	4.87%	5.17%	5.52%	5.21%
ROIC	15.1%	20.7%	35.3%	22%	16.8%	15.3%	22%	28.3%	21.2%	24.8%	24.8%
Return on tangible assets	0.63%	2.72%	3.15%	3.5%	3.17%	2.07%	4.33%	5.53%	6.98%	7.36%	7.36%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.09	1.08	1.1	1.18	1.09	1.03	1.1	1.13	1.14	1.09	1.09
Quick ratio	1.09	1.08	1.1	1.18	1.09	1.03	1.1	1.13	1.14	1.09	1.09
Debt / equity	—	0.01	0	0.46	0.16	0.13	0.08	0.05	0.18	0.11	0.11
Debt / assets	—	0	0	0.09	0.03	0.02	0.02	0.01	0.05	0.03	0.03
Net debt / EBITDA	—	-2.94	-1.77	-1	-1.31	-0.46	-1.01	-1.03	-0.45	-0.28	-0.28
Effective tax rate	8.83%	0%	7.28%	3.97%	0%	0%	11.2%	25.4%	26.5%	30.4%	30.4%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	5.84	7.2	8.84	10.5	11.7	15.5	21.1	24.9	—	—	32.8
EPS (basic)	0.13	0.74	1.02	1.2	1.3	1.65	2.53	3.68	—	—	—
EPS (diluted)	0.12	0.7	0.97	1.15	1.26	1.61	2.49	3.63	—	—	4.92
Book value per share	2.87	4.06	5.82	7.34	8.78	11.1	15.1	18.4	—	—	22.1
FCF per share	0.53	1.16	1.58	1.31	1.6	1.86	3.87	5.44	—	—	7.93
Cash per share	2.01	2.63	3.06	5.33	3.81	2.54	5.18	7.15	—	—	5.13
Capex per share	0.42	0.41	0.21	0.31	0.17	0.33	0.39	0.32	—	—	1.28

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	7.11%	5.74%	2.41%	2.95%	1.49%	2.12%	1.87%	1.29%	3.91%	3.91%	3.91%
Capex / operating cash flow	37.3%	24.6%	11%	17.1%	8.77%	11.9%	8.04%	4.74%	14.9%	13%	13%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	$363M	$326.4M	$401.3M	$357.3M	$317.6M	$377M	$454.5M	$400.7M	$408.2M	$416.1M	$502.3M	$444.7M
YoY change	+43.3%	+19.5%	+18.1%	+15.8%	-12.5%	+15.5%	+13.3%	+12.2%	+28.5%	+10.4%	+10.5%	+11%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	103.5M	137.9M	161.8M	285.4M	206.7M	139.8M	288.8M	401.8M	398.1M	271.9M
Receivables	2M	3.5M	4.4M	4.9M	6.3M	15.8M	15.5M	18.9M	25.5M	35.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	1.1B	1.4B	1.6B	1.7B	2B	4.2B	3B	3.5B	3.3B	3.7B
Property, plant & equipment	40.8M	62M	70.1M	115.4M	103.8M	112M	108.1M	94.4M	90.2M	104.5M
Goodwill & intangibles	64.6M	87.4M	95.7M	143M	183.4M	418.8M	445.4M	507.3M	1.1B	1.2B
Total assets	1.1B	1.5B	1.8B	2B	2.4B	4.8B	3.7B	4.2B	4.4B	4.9B
Accounts payable	2M	3M	4M	1.8M	4.2M	8.4M	6.2M	8.6M	17.3M	10.9M
Short-term debt	—	2.1M	1.5M	8.1M	7.5M	8.4M	7.8M	7.6M	8.6M	9.5M
Total current liabilities	974.8M	1.3B	1.5B	1.4B	1.9B	4.1B	2.8B	3.1B	2.9B	3.4B
Long-term debt	—	—	0	173.3M	67.2M	69.1M	62.5M	46.8M	209.3M	123.5M
Total liabilities	989.8M	1.3B	1.5B	1.6B	1.9B	4.2B	2.9B	3.2B	3.2B	3.7B
Shareholders' equity	147.6M	212.8M	308M	392.9M	476.9M	613.5M	842.9M	1B	1.2B	1.2B
Total debt	—	2.1M	1.5M	181.4M	74.8M	77.5M	70.3M	54.4M	217.9M	133M
Net debt	—	-135.1M	-131M	-69.5M	-127.5M	-62.2M	-218.5M	-347.4M	-180.2M	-138.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Cash & short-term investments	305M	366.9M	492.7M	401.8M	778.5M	482.4M	477.8M	398.1M	165.2M	162.5M	299.7M	271.9M
Receivables	30.1M	32.5M	33.7M	18.9M	34.3M	43.5M	43.6M	25.5M	41.7M	44M	51.4M	35.2M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	3B	3.8B	4.2B	3.5B	3.3B	4.2B	4.1B	3.3B	3.2B	5.9B	4.4B	3.7B
Property, plant & equipment	106.2M	100.6M	96.5M	94.4M	91.1M	93.2M	91.6M	90.2M	87.1M	88.2M	91.7M	104.5M
Goodwill & intangibles	459.1M	490.6M	500.2M	507.3M	513.1M	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.2B
Total assets	3.6B	4.5B	5B	4.2B	4B	5.3B	5.2B	4.4B	4.2B	7B	5.4B	4.9B
Accounts payable	8.7M	8M	5.2M	8.6M	16M	5.5M	8.7M	17.3M	6M	7.3M	12.3M	10.9M
Short-term debt	8.4M	8.2M	8M	7.6M	7.7M	8.1M	8.2M	8.6M	8.1M	8.2M	9.4M	9.5M
Total current liabilities	2.7B	3.4B	3.8B	3.1B	2.5B	3.7B	3.6B	2.9B	2.9B	5.7B	4B	3.4B
Long-term debt	60.6M	51M	48.9M	46.8M	370.7M	374M	292.8M	209.3M	127.5M	125.3M	125.2M	123.5M
Total liabilities	2.8B	3.5B	3.9B	3.2B	2.9B	4.1B	4B	3.2B	3.1B	5.9B	4.3B	3.7B
Shareholders' equity	892.6M	986.8M	1.1B	1B	1.1B	1.2B	1.2B	1.2B	1.1B	1.1B	1.2B	1.2B
Total debt	69M	59.2M	56.9M	54.4M	378.3M	382.1M	301M	217.9M	135.5M	133.5M	134.6M	133M
Net debt	-236M	-307.7M	-435.8M	-347.4M	-400.2M	-100.2M	-176.8M	-180.2M	-29.6M	-29M	-165.2M	-138.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	6.7M	38.6M	53.8M	64.5M	70.8M	90.8M	140.8M	206.8M	227.1M	269.7M
Depreciation & amortization	21M	30.2M	34.6M	37.9M	43M	50.2M	60.9M	76.4M	99.6M	111.8M
Stock-based compensation	26.7M	30.4M	38.8M	47.5M	63.1M	96.2M	147.3M	146M	142.8M	138.7M
Change in working capital	2.6M	11M	-28.8M	-56.5M	-56.1M	-78.3M	-91.7M	-76.1M	-59.2M	-62.3M
Operating cash flow	57.2M	88.3M	103M	96.7M	107.9M	152.2M	272.5M	380M	418.2M	533.3M
Capital expenditure	-21.3M	-21.7M	-11.3M	-16.6M	-9.5M	-18.1M	-21.9M	-18M	-62.4M	-69.3M
Investing cash flow	-24.2M	-163.6M	-23.2M	-23M	77M	-445.3M	-175.2M	-41.2M	-442.5M	-118.6M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	0	-35M	0	0	0	0	-150M	-149.6M	-398.1M
Financing cash flow	-308.1M	270.9M	108.7M	93.2M	168.1M	2.1B	-1.5B	122.4M	-345.5M	-90.5M
Net change in cash	-275M	195.6M	188.4M	166.8M	353M	1.8B	-1.4B	461.3M	-369.8M	324.1M
Free cash flow	27M	60.6M	83.6M	70.4M	86.8M	102.5M	215.8M	305.9M	342.8M	427.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Net income	34.5M	38.1M	85.3M	48.8M	49.6M	37.5M	91.5M	48.6M	48M	50.2M	111.3M	60.3M
Depreciation & amortization	17.1M	18.4M	20.3M	20.6M	21.6M	25.7M	26M	26.5M	27.5M	27.8M	27.3M	29.2M
Stock-based compensation	39M	43.2M	35M	28.9M	33.5M	43.7M	35.3M	30.3M	37.8M	42.2M	31.4M	27.2M
Change in working capital	-18.2M	-18.4M	-24.6M	-14.8M	-6.1M	-28.2M	-17.9M	-6.9M	-21M	-14.8M	-10.3M	-16.2M
Operating cash flow	78M	87M	120M	94.9M	96.3M	81.3M	133.7M	86.6M	86.5M	117M	217.9M	111.9M
Capital expenditure	-3.5M	-2.7M	-5.6M	-6.3M	-2.3M	-3M	-2.3M	-16.8M	-15.5M	-15.9M	-17.7M	-20.2M
Investing cash flow	4.8M	-25.5M	795K	-9.3M	1.9M	4.8M	-11.6M	-121.6M	-13.9M	-6.4M	-17.9M	-80.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	-82.7M	-58.6M	-200M	-100M	-50M	-48.1M
Financing cash flow	-122.4M	742.8M	297.6M	-645.6M	-318.3M	1.2B	-292M	-878.5M	-229.7M	2.6B	-1.7B	-680.2M
Net change in cash	-39.6M	804.3M	418.4M	-559.9M	-220.1M	1.2B	-169.9M	-913.5M	-157.1M	2.7B	-1.5B	-648.7M
Free cash flow	44.5M	57.1M	146.9M	57.4M	73.9M	36.8M	167.7M	64.3M	67.2M	97.7M	191.8M	71.1M

Paylocity Holding Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement