Paycom Software, Inc. (PAYC) 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 %
Q2 26	$2.38	$2.78	+16.8%	—	$531.2M	—
Q1 26	$2.99	$3.15	+5.4%	—	$571.8M	—
Q4 25	$2.45	$2.45	0.0%	—	$544.3M	—
Q3 25	$1.97	$1.94	-1.5%	—	$493.3M	—
Q2 25	$1.78	$2.06	+15.7%	—	$483.6M	—
Q1 25	$2.56	$2.8	+9.4%	—	$530.5M	—
Q4 24	$1.97	$2.32	+17.8%	—	$493.9M	—
Q3 24	$1.61	$1.67	+3.7%	—	$451.9M	—
Q2 24	$1.6	$1.62	+1.3%	—	$437.5M	—
Q1 24	$2.46	$2.59	+5.3%	—	$499.9M	—
Q4 23	$1.78	$1.93	+8.4%	—	$434.6M	—
Q3 23	$1.61	$1.77	+9.9%	—	$406.3M	—
Q2 23	$1.59	$1.62	+1.9%	—	$401.1M	—
Q1 23	$2.35	$2.46	+4.7%	—	$451.6M	—
Q4 22	$1.49	$1.73	+16.1%	—	$370.6M	—
Q3 22	$1.18	$1.27	+7.6%	—	$334.2M	—

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 %
FY25	—	$8.13	—	—	$2.1B	—
FY24	—	$8.93	—	—	$1.9B	—
FY23	—	$5.91	—	—	$1.7B	—
FY22	—	$4.86	—	—	$1.4B

Total revenue

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

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$329.1M	$433M	$566.3M	$737.7M	$841.4M	$1.1B	$1.4B	$1.7B	$1.9B	$2.1B
YoY change	+46.5%	+31.6%	+30.8%	+30.3%	+14.1%	+25.4%	+30.3%	+23.2%	+11.2%	+8.95%

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	329.1M	433M	566.3M	737.7M	841.4M	1.1B	1.4B	1.7B	1.9B	2.1B
Cost of revenue	54.1M	72M	90.8M	109.7M	123.5M	161.9M	212.7M	276.3M	334.6M	345.4M
Gross profit	275.1M	361M	475.6M	627.9M	717.9M	893.6M	1.2B	1.4B	1.5B	1.7B
Gross margin	83.6%	83.4%	84%	85.1%	85.3%	84.7%	84.5%	83.7%	82.2%	83.2%
Research & development	21M	30.4M	46.2M	73.1M	90.2M	118.4M	148.3M	199M	242.6M	283.4M
Selling, general & administrative	144.5M	191.1M	240.5M	306.8M	413.9M	485.8M	585.7M	705.8M	593M	761.8M
Operating expenses	165.5M	221.5M	286.7M	379.9M	504.2M	604.3M	734M	904.7M	835.6M	1B
Operating income	101.7M	129.7M	173.7M	226.2M	186.1M	253.6M	378.7M	451.3M	634.3M	567.2M
Operating margin	30.9%	30%	30.7%	30.7%	22.1%	24%	27.5%	26.6%	33.7%	27.6%
Non-operating income, net	308K	-1.1M	1.8M	803K	-168K	2.4M	13.4M	23M	18.1M	55.6M
Pretax income	101M	127.7M	174.7M	226.1M	185.9M	256M	389.6M	472.4M	649M	619.4M
Income tax	30.6M	4.2M	37.6M	45.5M	42.5M	60M	108.2M	131.6M	147M	166M
Net income	70.4M	123.5M	137.1M	180.6M	143.5M	196M	281.4M	340.8M	502M	453.4M
Net margin	21.4%	28.5%	24.2%	24.5%	17%	18.6%	20.5%	20.1%	26.7%	22.1%
EBITDA	115.7M	148M	205.1M	269.2M	239.3M	323.2M	484.8M	588.3M	798.3M	799.1M
EPS	0.76	1.15	2.37	3.14	2.49	3.39	4.86	5.91	8.93	8.13
Diluted EPS	0.74	1.13	2.34	3.09	2.46	3.37	4.84	5.88	8.92	8.08

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	406.3M	434.6M	499.9M	437.5M	451.9M	493.9M	530.5M	483.6M	493.3M	544.3M	571.8M	531.2M
Cost of revenue	68.9M	74.7M	78.6M	83.9M	88.4M	83.7M	84.6M	87.5M	85.4M	87.8M	87.3M	89.1M
Gross profit	337.4M	359.9M	421.3M	353.6M	363.6M	410.1M	445.9M	396.1M	407.9M	456.5M	484.5M	442.1M
Gross margin	83%	82.8%	84.3%	80.8%	80.5%	83%	84.1%	81.9%	82.7%	83.9%	84.7%	83.2%
Research & development	51.9M	55.3M	50.5M	62.4M	63M	66.7M	62.3M	74.8M	74.1M	72.2M	60.7M	51.9M
Selling, general & administrative	173M	181.2M	67.4M	176.9M	175.1M	173.5M	176.9M	186.2M	197.6M	201.4M	187M	196.1M
Operating expenses	224.9M	236.5M	117.9M	239.3M	238.2M	240.2M	239.2M	261M	271.7M	273.6M	247.7M	248M
Operating income	96.9M	106.7M	285.8M	95.1M	104.9M	148.5M	185.1M	112.3M	112.6M	157.1M	210.1M	168.5M
Operating margin	23.8%	24.6%	57.2%	21.7%	23.2%	30.1%	34.9%	23.2%	22.8%	28.9%	36.7%	31.7%
Non-operating income, net	5.4M	5.5M	5M	4.8M	4.2M	4.1M	6M	5.7M	41.3M	2.7M	9.1M	-1.1M
Pretax income	102M	111.9M	290M	99.1M	108.3M	151.5M	190.3M	117.2M	152.8M	159.1M	215.3M	156.9M
Income tax	26.8M	30.2M	42.9M	31.2M	35M	37.9M	50.9M	27.7M	42.1M	45.3M	59.5M	49.5M
Net income	75.2M	81.8M	247.2M	68M	73.3M	113.6M	139.4M	89.5M	110.7M	113.8M	155.8M	107.4M
Net margin	18.5%	18.8%	49.4%	15.5%	16.2%	23%	26.3%	18.5%	22.4%	20.9%	27.2%	20.2%
EBITDA	131.2M	143.2M	323.3M	135.5M	147.2M	192.3M	231.1M	160M	198.9M	209.2M	270.4M	217.5M
EPS	1.3	1.43	4.37	1.2	1.31	2.03	2.49	1.59	1.97	2.07	3.05	2.34
Diluted EPS	1.3	1.43	4.37	1.2	1.31	2.02	2.48	1.58	1.96	2.07	3.04	2.34

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.6B	4.6B	7.1B	15.2B	26.1B	24B	18B	11.9B	11.5B	8.9B	9.9B
Enterprise value	2.6B	4.6B	7.1B	15.1B	25.9B	23.8B	17.6B	11.6B	11.2B	8.6B	10.5B
Shares outstanding	57.6M	57.8M	57.7M	57.6M	57.6M	57.9M	57.9M	57.7M	56.2M	55.8M	55.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	37.2	37.6	51.6	84.4	181.7	122.6	63.9	35	22.9	19.6	23.3
P/S	7.95	10.7	12.5	20.7	31	22.8	13.1	7.04	6.12	4.33	4.64
P/B	22.5	16.5	21.1	28.9	39.7	26.9	15.2	9.15	7.31	5.14	16.8
EV/EBITDA	22.4	31.3	34.4	56.2	108.4	73.6	36.3	19.8	14	10.8	14.3
EV/Sales	7.86	10.7	12.5	20.5	30.8	22.5	12.8	6.87	5.95	4.2	4.93
Earnings yield	2.69%	2.66%	1.94%	1.18%	0.55%	0.82%	1.57%	2.86%	4.36%	5.1%	4.29%
FCF yield	2.1%	1.52%	1.77%	0.86%	0.51%	0.8%	1.27%	2.42%	2.92%	4.54%	4.26%
PEG	—	—	—	—	—	—	—	—	—	—	0.49

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	83.6%	83.4%	84%	85.1%	85.3%	84.7%	84.5%	83.7%	82.2%	83.2%	83.2%
Operating margin	30.9%	30%	30.7%	30.7%	22.1%	24%	27.5%	26.6%	33.7%	27.6%	31.7%
Net margin	21.4%	28.5%	24.2%	24.5%	17%	18.6%	20.5%	20.1%	26.7%	22.1%	22.8%
ROE	60.4%	43.9%	40.9%	34.3%	21.9%	21.9%	23.8%	26.2%	31.9%	26.2%	41.1%
ROA	6.53%	7.97%	9.01%	7.26%	5.5%	6.09%	7.21%	8.12%	8.57%	5.97%	8.78%
ROIC	82.3%	46.4%	42.1%	42.5%	26.8%	30.1%	33.7%	32.3%	39%	28.6%	34.1%
Return on tangible assets	7.25%	8.55%	9.68%	7.58%	5.73%	6.54%	7.62%	8.53%	8.86%	6.11%	9.68%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.03	1.03	1.03	1.07	1.09	1.13	1.16	1.11	1.1	1.09	1.07
Quick ratio	1.03	1.03	1.03	1.07	1.08	1.13	1.16	1.11	1.1	1.09	1.07
Debt / equity	0.26	0.13	0.1	0.06	0.05	0.03	0.02	—	0.05	0.05	1.72
Debt / assets	0.03	0.02	0.02	0.01	0.01	0.01	0.01	—	0.01	0.01	0.19
Net debt / EBITDA	-0.26	-0.07	-0.06	-0.38	-0.5	-0.77	-0.77	—	-0.4	-0.35	0.88
Interest coverage	98.5	141.2	229.1	241.5	9.8K	—	154.6	246.1	191.9	183.2	43
Effective tax rate	30.3%	3.32%	21.5%	20.1%	22.8%	23.4%	27.8%	27.9%	22.7%	26.8%	28.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.72	7.49	9.81	12.8	14.6	18.2	23.7	29.3	33.5	36.8	41.2
EPS (basic)	0.76	1.15	2.37	3.14	2.49	3.39	4.86	5.91	8.93	8.13	8.13
EPS (diluted)	0.74	1.13	2.34	3.09	2.46	3.37	4.84	5.88	8.92	8.08	9.46
Book value per share	2.02	4.86	5.8	9.15	11.4	15.4	20.4	22.6	28	31	13.1
FCF per share	0.96	1.22	2.16	2.28	2.31	3.34	3.94	4.99	5.99	7.23	12.4
Cash per share	1.05	0.8	0.79	2.32	2.63	4.8	6.92	5.1	7.15	6.63	4.47
Capex per share	0.76	1.03	1.04	1.61	1.63	2.09	2.29	3.34	3.43	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	13.2%	13.7%	10.6%	12.6%	11.2%	11.4%	9.65%	11.4%	10.2%	—	—
Capex / operating cash flow	45.9%	46.3%	33.7%	43%	42.4%	41.5%	37.2%	45.7%	37.2%	—	—
Payout ratio	—	—	—	—	—	0%	0%	19%	16.9%	18.7%	15.9%
Dividend yield	—	—	—	—	—	0%	0%	0.54%	0.74%	0.95%	0.68%

Yield

0.68%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.375

ex-dividend Aug 24, 2026

Payout ratio

16%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 24, 2026	$0.375
May 26, 2026	$0.375
Mar 9, 2026	$0.375
Nov 24, 2025	$0.375
Aug 25, 2025	$0.375
May 27, 2025	$0.375
Mar 10, 2025	$0.375
Nov 25, 2024	$0.375

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$406.3M	$434.6M	$499.9M	$437.5M	$451.9M	$493.9M	$530.5M	$483.6M	$493.3M	$544.3M	$571.8M	$531.2M
YoY change	+21.6%	+17.3%	+10.7%	+9.07%	+11.2%	+13.6%	+6.13%	+10.5%	+9.15%	+10.2%	+7.79%	+9.84%

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	60.2M	46.1M	45.7M	133.7M	151.7M	278M	400.7M	294M	402M	370M
Receivables	1.3M	1.6M	3.4M	9.3M	9.1M	9.5M	22.8M	16.4M	39.2M	44.9M
Inventory	675K	979K	797K	1.2M	1.2M	1.1M	1.6M	1.4M	1.4M	1.7M
Total current assets	925.6M	1.2B	1.1B	1.9B	1.9B	2.3B	2.8B	2.8B	4.3B	5.8B
Property, plant & equipment	48.6M	87.3M	76.8M	136.8M	169.4M	176.1M	224.7M	318.3M	366.4M	472.3M
Goodwill & intangibles	107.5M	105.7M	105.3M	104.3M	104.4M	219.8M	211.8M	204M	196.2M	178.6M
Total assets	1.1B	1.6B	1.5B	2.5B	2.6B	3.2B	3.9B	4.2B	5.9B	7.6B
Accounts payable	3.7M	6.5M	6.3M	5.1M	6.8M	5.8M	16.1M	13.9M	23.9M	6.6M
Short-term debt	1.1M	888K	1.8M	1.8M	1.8M	1.8M	—	—	20.4M	28.4M
Total current liabilities	898.9M	1.1B	1B	1.8B	1.7B	2B	2.4B	2.5B	3.9B	5.4B
Long-term debt	28.7M	34.4M	32.6M	30.9M	29.1M	27.4M	29M	—	63M	61.9M
Total liabilities	962.1M	1.3B	1.2B	2B	2B	2.3B	2.7B	2.9B	4.3B	5.9B
Shareholders' equity	116.5M	281.2M	334.8M	526.6M	655.6M	893.7M	1.2B	1.3B	1.6B	1.7B
Total debt	29.8M	35.3M	34.4M	32.6M	30.9M	29.2M	29M	—	83.4M	90.3M
Net debt	-30.3M	-10.8M	-11.3M	-101M	-120.8M	-248.8M	-371.7M	—	-318.6M	-279.7M

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	484M	294M	371.3M	346.5M	325.8M	402M	520.8M	532.2M	375M	370M	153.9M	198M
Receivables	15.5M	16.4M	20M	20M	20.6M	39.2M	31.3M	39.9M	50.4M	44.9M	51.3M	53.5M
Inventory	836K	1.4M	1.8M	1.4M	1.3M	1.4M	1.4M	1.6M	1.8M	1.7M	1.5M	1.7M
Total current assets	2.6B	2.8B	3.3B	2.8B	2B	4.3B	3B	2.4B	2.5B	5.8B	3.1B	3.5B
Property, plant & equipment	288.9M	318.3M	340.2M	272.9M	354.1M	366.4M	369.2M	399.8M	439.4M	472.3M	449.9M	416.8M
Goodwill & intangibles	206M	204M	202.1M	200.1M	198.1M	196.2M	194.2M	192.4M	185.6M	178.6M	171.8M	165M
Total assets	3.9B	4.2B	4.7B	4.3B	3.5B	5.9B	4.6B	4B	4.2B	7.6B	4.8B	5.2B
Accounts payable	6.9M	13.9M	21M	15M	35M	23.9M	9.1M	19.7M	20.4M	6.6M	9.4M	7.6M
Short-term debt	—	—	—	—	20.1M	20.4M	21M	21.9M	23.4M	28.4M	28.6M	28.8M
Total current liabilities	2.1B	2.5B	2.9B	2.5B	1.7B	3.9B	2.5B	1.8B	2.1B	5.4B	2.8B	3.2B
Long-term debt	29M	—	—	—	60.7M	63M	60.5M	59.3M	61.1M	61.9M	735M	954M
Total liabilities	2.4B	2.9B	3.3B	2.9B	2B	4.3B	2.9B	2.2B	2.5B	5.9B	4B	4.6B
Shareholders' equity	1.4B	1.3B	1.4B	1.4B	1.5B	1.6B	1.7B	1.8B	1.7B	1.7B	811.7M	571.5M
Total debt	29M	—	—	—	80.8M	83.4M	81.5M	81.2M	84.5M	90.3M	763.6M	982.8M
Net debt	-455M	—	—	—	-245M	-318.6M	-439.3M	-451M	-290.5M	-279.7M	609.7M	784.8M

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	70.4M	123.5M	137.1M	180.6M	143.5M	196M	281.4M	340.8M	502M	453.4M
Depreciation & amortization	13.6M	19.4M	29.7M	42.2M	53.4M	67.2M	92.7M	113.9M	145.9M	176.3M
Stock-based compensation	20.7M	36.1M	36.6M	47.3M	90.1M	97.5M	94.9M	129.8M	-22.9M	118.7M
Change in working capital	-25.4M	-43M	-46.4M	-74.7M	-85.7M	-103.1M	-111.4M	-169.4M	-115.1M	-180.9M
Operating cash flow	94.8M	128.4M	177.8M	216.3M	222.1M	290.8M	356.9M	420.7M	517.9M	678.9M
Capital expenditure	-43.5M	-59.4M	-59.9M	-92.9M	-94.1M	-120.7M	-132.7M	-192.5M	-192.9M	—
Investing cash flow	-302.6M	90.6M	-38.9M	-346.2M	-141.7M	-383.6M	94.3M	-192.5M	-17.8M	-335.9M
Dividends paid	—	—	—	—	—	0	0	-64.8M	-84.8M	-84.8M
Share repurchases	-35.6M	-56.9M	-105.2M	0	-52M	0	-94.7M	-286.6M	-122.8M	-325.5M
Financing cash flow	115.5M	145.7M	-247.8M	650.7M	-165.9M	165.7M	254.6M	-274.7M	1.1B	1B
Net change in cash	-92.2M	364.6M	-109M	520.8M	-85.5M	72.9M	705.9M	-46.4M	1.6B	1.4B
Free cash flow	55M	70.8M	124.9M	131.3M	133.1M	193.2M	228.3M	288.2M	336.6M	403.5M

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	75.2M	81.8M	247.2M	68M	73.2M	113.6M	139.4M	89.5M	110.7M	113.8M	155.7M	107.4M
Depreciation & amortization	28.9M	31M	32.5M	35.6M	38.1M	39.7M	40M	42M	45M	49.4M	51.1M	50.1M
Stock-based compensation	33.2M	33.4M	-93.8M	24.1M	24.2M	22.6M	22.2M	38.4M	31.2M	26.9M	14.1M	17.5M
Change in working capital	-25.4M	-71.3M	4.8M	-25.6M	-38.1M	-59.3M	22.1M	-59.9M	-101.4M	-41.7M	43.1M	11.5M
Operating cash flow	114.9M	74.4M	180.7M	105.3M	102.1M	126.5M	218.2M	122.5M	177.8M	196.1M	213.8M	213.8M
Capital expenditure	-52.3M	-56.8M	-47.7M	-45.6M	-48.2M	-51.4M	-37.7M	—	—	—	—	—
Investing cash flow	-52.3M	-56.8M	42.3M	29.4M	-38.2M	-51.4M	-379.9M	-123.6M	3.9M	—	400K	0
Dividends paid	-21.6M	-21.5M	-21.2M	-21.2M	-21.3M	-21.1M	-21.1M	-21.8M	-21.2M	-20.7M	-17.7M	-17.8M
Share repurchases	-75M	-211.6M	—	—	-42M	1K	—	0	-218.9M	-106.6M	-1.1B	-335.4M
Financing cash flow	-203.3M	163M	376.1M	-455.8M	-928.9M	2.2B	-1.5B	-677.2M	-41.7M	3.2B	-2.9B	234.3M
Net change in cash	-140.8M	180.6M	599.1M	-321.1M	-865M	2.3B	-1.6B	-678.3M	140M	3.4B	-2.7B	448.1M
Free cash flow	46.3M	73.3M	100.9M	86.5M	44.6M	104.6M	144.8M	60.8M	79.8M	118.1M	182.6M	190.1M

Paycom Software, Inc. 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

Dividend per share

Recent payouts

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