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Paylocity

PCTY Nasdaq Human Resource & Employment Services Financials FY2017–FY2026

Paylocity's revenue rose 11.0% to $1.8 billion in fiscal 2026. Its operating margin was 21.8%, up from 19.1% a year earlier. Free cash flow was $497 million, up 22.7%. It paid out $398 million in dividends and buybacks, 80% of free cash flow. The diluted share count fell 3.1%.

Last close · Oct 23, 2026

$177.19

0.3%
Value it Compare
Revenue Total sales reported in the income statement.
$1.8B
11.0% vs prior year
Operating margin Operating income as a share of revenue.
21.8%
2.7 pts
Net income Profit after all expenses, interest and tax.
$270M
18.8%
Free cash flow Cash from operations minus capital spending.
$497M
22.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
26.5%
0.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$9.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. Paylocity's balance sheets show no borrowings in the years it left its credit line undrawn (checked 2018, 2019 and 2021); its only borrowings were US$100 million in fiscal 2020 and from fiscal 2025.

What Paylocity does

No business description yet.

Legal name
Paylocity Holding Corporation
Fiscal year ends
June 30, 2026
Latest annual report
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Accession · CIK
0001591698-26-000069
0001591698

Revenue and margins

Paylocity had $1.8B of revenue in fiscal 2026, up 11.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 51.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $497M in fiscal 2026, 28.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Paylocity returned $398M to shareholders in fiscal 2026, 80% of free cash flow. The diluted share count fell 3.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Paylocity yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of $191M and divides by 54.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

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Reference multiples: today 36.0x · peers 19.1x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Paylocity can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $140M$289M$402M$398M$272M
Debt incl. finance leases $0.0M$0.0M$0.0M$163M$81.2M
Net debt / EBITDA −1.0x−1.3x−1.2x−0.6x−0.4x
Debt / equity 0.0x0.0x0.0x0.1x0.1x
Interest coverage 272.0x383.7x526.5x23.8x69.3x
Current ratio 1.0x1.1x1.1x1.1x1.1x
Quick ratio 1.0x1.1x1.1x1.1x1.1x
Total assets $4.8B$3.7B$4.2B$4.4B$4.9B
Total liabilities $4.2B$2.9B$3.2B$3.2B$3.7B
Shareholders' equity $614M$843M$1.0B$1.2B$1.2B
Net debt (− = net cash) −$140M−$289M−$402M−$236M−$191M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$16.6M

5 insiders

Of sales under plans

96%

$16.0M

DateInsiderTradeSharesPriceValueFiling
Oct 20, 2026 Steven I SarowitzDirector, 10% owner Sold plan 10,617 $169.76 $1.8M Form 4
Oct 19, 2026 Steven I SarowitzDirector, 10% owner Sold plan 10,445 $166.26 $1.7M Form 4
Oct 16, 2026 Steven I SarowitzDirector, 10% owner Sold plan 5,500 $166.05 $0.9M Form 4
Oct 15, 2026 Steven I SarowitzDirector, 10% owner Sold plan 17,694 $165.80 $2.9M Form 4
Oct 15, 2026 Steven R BeauchampExecutive Chairman, Director Sold plan 15,000 $165.22 $2.5M Form 4
Sep 15, 2026 Steven R BeauchampExecutive Chairman, Director Sold plan 15,000 $147.18 $2.2M Form 4
Sep 4, 2026 Andrew CappotelliSr Vice President Operations Sold plan 69 $152.37 $0.0M Form 4
Aug 28, 2026 Steven I SarowitzDirector, 10% owner Sold plan 5,100 $158.56 $0.8M Form 4
Aug 27, 2026 Craig ConwayDirector Sold 3,145 $156.80 $0.5M Form 4
Aug 27, 2026 Kenneth B. RobinsonDirector Sold 800 $158.41 $0.1M Form 4
Aug 27, 2026 Steven I SarowitzDirector, 10% owner Sold plan 19,459 $157.78 $3.1M Form 4
Aug 24, 2026 Steven I SarowitzDirector, 10% owner Sold plan 441 $155.00 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✓ ✕ ✓
F-score 6 / 96 / 98 / 9
Accruals ratio −4.5%−4.4%−5.7%
Altman Z'' 1.902.152.07

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Paylocity PCTY $9.7B 11.0% 21.8% 28.1% 26.5% — 8
Korn Ferry KFY $4.0B 6.4% 12.8% 11.0% 21.9% 14.8x 8 Compare →
Upwork UPWK $1.2B 2.4% 16.4% 30.8% 31.0% 12.3x 6 Compare →
Paychex PAYX $42.1B 16.9% 38.6% 35.7% 26.2% 23.4x 6 Compare →
Automatic Data Processing ADP $122.7B 6.7% — 23.9% 68.8% — 9 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $300M $378M $468M $561M $636M $853M $1.2B $1.4B $1.6B $1.8B
Gross profit $176M $228M $314M $379M $416M $566M $808M $961M $1.1B $1.2B
Research and development $29.1M $37.6M $50.3M $62.8M $76.7M $103M $164M $178M $206M $221M
Operating income $7.3M $15.9M $56.2M $66.2M $58.0M $84.6M $155M $260M $304M $386M
Interest expense — — — $0.4M $0.9M $0.3M $0.4M $0.5M $12.8M $5.6M
Pretax income $7.4M $16.8M $58.0M $67.1M $57.1M $83.6M $159M $277M $309M $387M
Income tax $0.7M −$21.8M $4.2M $2.7M −$13.7M −$7.2M $17.8M $70.2M $81.9M $118M
Net income $6.7M $38.6M $53.8M $64.5M $70.8M $90.8M $141M $207M $227M $270M
Diluted EPS $0.12 $0.70 $0.97 $1.15 $1.26 $1.61 $2.49 $3.63 $4.02 $4.92
Diluted shares 0.05B 0.05B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.05B
Cash flow
Cash from operations $62.0M $97.9M $115M $113M $125M $155M $283M $385M $418M $533M
Capital expenditure $21.3M $21.7M $11.3M $16.6M $9.5M $18.1M $21.9M $18.0M $13.1M $36.2M
Free cash flow $40.6M $76.2M $104M $96.1M $115M $137M $261M $367M $405M $497M
Depreciation and amortization $21.0M $30.2M $34.6M $37.9M $43.0M $50.2M $60.9M $76.4M $99.6M $112M
Stock-based compensation $26.7M $30.4M $38.8M $47.5M $63.1M $96.2M $147M $146M $143M $139M
Acquisitions $0.0M $6.7M $0.0M $16.7M $15.0M $108M $0.0M $12.0M $278M $49.2M
Share buybacks $0.0M $0.0M $35.0M $0.0M $0.0M $0.0M $0.0M $150M $150M $398M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $35.0M $0.0M $0.0M $0.0M $0.0M $150M $150M $398M
Balance sheet
Cash and short-term investments $104M $138M $162M $285M $207M $140M $289M $402M $398M $272M
Total debt $0.0M $0.0M $0.0M $100M $0.0M $0.0M $0.0M $0.0M $163M $81.2M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.1B $1.4B $1.6B $1.7B $2.0B $4.2B $3.0B $3.5B $3.3B $3.7B
Current liabilities $975M $1.3B $1.5B $1.4B $1.9B $4.1B $2.8B $3.1B $2.9B $3.4B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $40.8M $62.0M $70.1M $66.7M $59.8M $62.8M $64.1M $60.6M $54.2M $71.4M
Total assets $1.1B $1.5B $1.8B $2.0B $2.4B $4.8B $3.7B $4.2B $4.4B $4.9B
Total liabilities $990M $1.3B $1.5B $1.6B $1.9B $4.2B $2.9B $3.2B $3.2B $3.7B
Shareholders' equity $148M $213M $308M $393M $477M $614M $843M $1.0B $1.2B $1.2B
Margins
Gross margin 58.7% 60.5% 67.1% 67.6% 65.5% 66.3% 68.8% 68.5% 68.8% 69.2%
Operating margin 2.4% 4.2% 12.0% 11.8% 9.1% 9.9% 13.2% 18.5% 19.1% 21.8%
EBITDA margin 9.4% 12.2% 19.4% 18.5% 15.9% 15.8% 18.4% 24.0% 25.3% 28.1%
Net margin 2.2% 10.2% 11.5% 11.5% 11.1% 10.7% 12.0% 14.7% 14.2% 15.2%
FCF margin 13.6% 20.2% 22.2% 17.1% 18.2% 16.1% 22.2% 26.1% 25.4% 28.1%
Returns
Return on capital — — — — 24.3% 22.7% 26.8% 32.8% 27.4% 26.5%
Return on capital employed 5.1% 8.0% 19.2% 14.3% 10.3% 13.7% 19.3% 25.4% 23.3% 26.2%
Return on equity 5.0% 21.4% 20.7% 18.4% 16.3% 16.7% 19.3% 22.0% 20.0% 22.0%
Return on assets 0.5% 2.9% 3.3% 3.4% 3.2% 2.5% 3.3% 5.2% 5.3% 5.8%
Growth
Revenue growth 30.0% 25.8% 23.9% 20.0% 13.2% 34.1% 37.8% 19.4% 13.7% 11.0%
Net income growth — 474.6% 39.5% 19.8% 9.9% 28.2% 55.1% 46.8% 9.9% 18.8%
EPS growth — 483.3% 38.6% 18.6% 9.6% 27.8% 54.7% 45.8% 10.7% 22.4%
FCF growth 140.3% 87.5% 36.2% −7.4% 20.1% 18.7% 90.4% 40.6% 10.5% 22.7%
Share count change 6.2% 1.5% 1.0% 0.7% 0.9% 0.3% 0.3% 0.7% −0.8% −3.2%
Financial health
Net debt / EBITDA −3.7x −3.0x −1.8x −1.8x −2.1x −1.0x −1.3x −1.2x −0.6x −0.4x
Debt / equity 0.0x 0.0x 0.0x 0.3x 0.0x 0.0x 0.0x 0.0x 0.1x 0.1x
Interest coverage — — — 151.1x 66.7x 272.0x 383.7x 526.5x 23.8x 69.3x
Current ratio 1.1x 1.1x 1.1x 1.2x 1.1x 1.0x 1.1x 1.1x 1.1x 1.1x
Quick ratio 1.1x 1.1x 1.1x 1.2x 1.1x 1.0x 1.1x 1.1x 1.1x 1.1x
Capital allocation
Capex / revenue 7.1% 5.7% 2.4% 3.0% 1.5% 2.1% 1.9% 1.3% 0.8% 2.0%
Stock comp / revenue 8.9% 8.0% 8.3% 8.5% 9.9% 11.3% 12.5% 10.4% 9.0% 7.8%
Payouts / FCF 0.0% 0.0% 33.7% 0.0% 0.0% 0.0% 0.0% 40.9% 36.9% 80.1%
Quality scores
Piotroski F-score 6.0 6.0 6.0 7.0 5.0 6.0 5.0 6.0 6.0 8.0
Altman Z'' 0.6 0.7 1.1 1.6 1.2 0.6 1.5 1.9 2.2 2.1
Accruals ratio −4.4% −4.5% −3.7% −2.5% −2.5% −1.8% −3.3% −4.5% −4.4% −5.7%

Source: SEC EDGAR XBRL filings (CIK 0001591698). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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