A Business at a Glance
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We are a leading cloud-based provider of human capital management, or HCM, payroll and spend management software solutions that deliver a comprehensive platform for the modern workforce. Our platform offers an intuitive, easy-to-use product suite that helps businesses streamline and automate HR, payroll and spend management processes, attract and retain talent, and build culture and connection with their employees. Excluding clients acquired through acquisitions, as of June 30, 2025, we provided our software-as-a-service, or SaaS, solutions to approximately 41,650 clients across the U.S., which on average had over 150 employees. Effective management of human capital and business-related spend is a core function in all organizations and requires a significant commitment of resources. Organizations are faced with an ever-changing employment landscape, the complexity of increasingly geographically dispersed employees, and managing hybrid workplaces.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.7B | 1.6B | 1.4B | 1.2B | 853M | 636M |
| Net Income | 238M | 227M | 207M | 141M | 91M | 71M |
| EPS | $4.34 | $4.02 | $3.63 | $2.49 | $1.61 | $1.26 |
| Free Cash Flow | 461M | 405M | 367M | 261M | 137M | 115M |
| ROIC | 58.5% | 44.3% | 57.3% | 51.1% | 32.9% | 19.5% |
| Gross Margin | 69.0% | 68.8% | 68.5% | 68.8% | 66.3% | 65.5% |
| Debt/Equity | 0.07 | 0.13 | 3.11 | 3.38 | 6.84 | 0.21 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 338M | 304M | 260M | 155M | 85M | 58M |
| Operating Margin | 20.1% | 19.1% | 18.5% | 13.2% | 9.9% | 9.1% |
| ROE | 21.7% | 20.0% | 22.0% | 19.3% | 16.7% | 16.3% |
| Shares Outstanding | 54M | 56M | 57M | 57M | 56M | 56M |
Paylocity Holding Corp passes 9 of 9 quality checks, indicating strong fundamentals.
Paylocity Holding Corp trades at 23.0x trailing earnings, compared to its 15-year median P/E of 72.0x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 11.4x vs a median of 50.2x. The company's 5-year average ROIC is 41.0% with a gross margin of 67.6%. Total shareholder yield (buybacks) is 8.4%. At current prices, the estimated annualized return to fair value is +31.1%.
Paylocity Holding Corp (PCTY) has a current P/E ratio of 23.0, compared to its historical median P/E of 72.0. The stock is currently considered Cheap based on its historical valuation range.
Paylocity Holding Corp (PCTY) has a 5-year average return on invested capital (ROIC) of 41.0%. This indicates strong capital allocation and a potential competitive advantage.
Paylocity Holding Corp (PCTY) has a market capitalization of $5.3B. It is classified as a mid-cap stock.
Paylocity Holding Corp (PCTY) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 8.36%.
Based on historical P/E analysis, Paylocity Holding Corp (PCTY) appears cheap. The current P/E of 23.0 is 68% below its historical median of 72.0. The estimated fair value CAGR (P/E method) is 29.7%.
Paylocity Holding Corp (PCTY) operates in the Services-Prepackaged Software industry, within the Technology sector.
Paylocity Holding Corp (PCTY) reported annual revenue of $1.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Paylocity Holding Corp (PCTY) has a net profit margin of 14.2%. This is a healthy margin.
Paylocity Holding Corp (PCTY) generated $405 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Paylocity Holding Corp (PCTY) has a debt-to-equity ratio of 0.13. This indicates a conservatively financed balance sheet.
Paylocity Holding Corp (PCTY) reported earnings per share (EPS) of $4.02 in its most recent fiscal year.
Paylocity Holding Corp (PCTY) has a return on equity (ROE) of 20.0%. This indicates the company generates strong returns for shareholders.
Paylocity Holding Corp (PCTY) has a 5-year average gross margin of 67.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 14 years of financial data for Paylocity Holding Corp (PCTY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Paylocity Holding Corp (PCTY) has a book value per share of $21.84, based on its most recent annual SEC filing.
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