Paycom Software, Inc. PAYC
We are a leading provider of a comprehensive, cloud-based HCM solution delivered as Software-as-a-Service ("SaaS"). We provide functionality and data analytics that businesses need to manage the complete employment lifecycle, from recruitment to retirement. Our solution requires virtually no customization and is based on a core system of record maintained in a single database for all HCM functions, including payroll, talent acquisition, talent management, human resources ("HR") management and time and labor management applications. Our user-friendly software allows for easy adoption of our solution by employees, enabling self-management of their HCM activities in the cloud, which reduces the administrative burden on employers and increases employee productivity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.05B | $1.88B | $1.69B | $1.38B | $1.06B | $841.4M | $737.7M | $566.3M | $433.0M | $329.1M |
| Cost of revenue | $345.4M | $334.6M | $276.3M | $212.7M | $161.9M | $123.5M | $109.7M | $90.8M | $72.0M | $54.1M |
| Gross profit | $1.71B | $1.55B | $1.42B | $1.16B | $893.6M | $717.9M | $627.9M | $475.6M | $361.0M | $275.1M |
| R&D | $283.4M | $242.6M | $199.0M | $148.3M | $118.4M | $90.2M | $73.1M | $46.2M | $30.4M | $21.0M |
| SG&A | $1.14B | $914.3M | $966.1M | $783.8M | $640.1M | $531.8M | $401.7M | $301.9M | $231.3M | $173.3M |
| Total operating expenses | $1.48B | $1.25B | $1.24B | $996.5M | $802.0M | $655.3M | $511.4M | $392.6M | $303.3M | $227.4M |
| Operating income | $567.2M | $634.3M | $451.3M | $378.7M | $253.6M | $186.1M | $226.2M | $173.7M | $129.7M | $101.7M |
| Interest expense | $3.4M | $3.4M | $1.9M | $2.5M | — | $19.0K | $940.0K | $766.0K | $911.0K | $1.0M |
| Pre-tax income | $619.4M | $649.0M | $472.4M | $389.6M | $256.0M | $185.9M | $226.1M | $174.7M | $127.7M | $101.0M |
| Income tax | $166.0M | $147.0M | $131.6M | $108.2M | $60.0M | $42.5M | $45.5M | $37.6M | $4.2M | $30.6M |
| Net income | $453.4M | $502.0M | $340.8M | $281.4M | $196.0M | $143.5M | $180.6M | $137.1M | $123.5M | $70.4M |
| EPS, basic | 8.13 | 8.93 | 5.91 | 4.86 | 3.39 | 2.49 | 3.14 | 2.37 | 2.13 | 1.21 |
| EPS, diluted | 8.08 | 8.92 | 5.88 | 4.84 | 3.37 | 2.46 | 3.09 | 2.34 | 2.10 | 1.19 |
| Shares, diluted (wtd. avg.) | $56.1M | $56.3M | $58.0M | $58.2M | $58.2M | $58.3M | $58.4M | $58.6M | $58.8M | $59.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $370.0M | $402.0M | $294.0M | $2.41B | $1.81B | $1.59B | $1.64B | $986.5M | $1.10B | $807.5M |
| Receivables | $44.9M | $39.2M | $16.4M | $22.8M | $9.5M | $9.1M | $9.3M | $3.4M | $1.6M | $1.3M |
| Inventory | $1.7M | $1.4M | $1.4M | $1.6M | $1.1M | $1.2M | $1.2M | $797.0K | $979.0K | $675.0K |
| Total current assets | $5.84B | $4.30B | $2.81B | $2.76B | $2.25B | $1.86B | $1.87B | $1.06B | $1.18B | $925.6M |
| Property, plant and equipment | — | — | $498.2M | $402.4M | $349.0M | $285.2M | $238.5M | $177.0M | $147.7M | $96.8M |
| Goodwill | $51.9M | $51.9M | $51.9M | $51.9M | $51.9M | $51.9M | $51.9M | $51.9M | $51.9M | $51.9M |
| Other intangibles | $37.4M | $46.2M | $50.1M | $54.0M | $58.0M | $319.0K | $532.0K | $745.0K | $958.0K | $1.9M |
| Total assets | $7.60B | $5.86B | $4.20B | $3.90B | $3.22B | $2.61B | $2.49B | $1.52B | $1.55B | $1.08B |
| Accounts payable | $6.6M | $23.9M | $13.9M | $16.1M | $5.8M | $6.8M | $5.1M | $6.3M | $6.5M | $3.7M |
| Short-term debt | — | — | — | $0 | $1.8M | $1.8M | $1.8M | $1.8M | $888.0K | $1.1M |
| Total current liabilities | $5.37B | $3.91B | $2.53B | $2.38B | $1.99B | $1.72B | $1.75B | $1.03B | $1.14B | $898.9M |
| Long-term debt | — | — | — | $29.0M | $27.4M | $29.1M | $30.9M | $32.6M | $34.4M | $28.7M |
| Total liabilities | $5.87B | $4.28B | $2.89B | $2.72B | $2.32B | $1.95B | $1.96B | $1.19B | $1.27B | — |
| Retained earnings | $2.26B | $1.89B | $1.47B | $1.20B | $915.6M | $719.6M | $576.2M | $395.6M | $258.5M | $70.4M |
| Total equity | $1.73B | $1.58B | $1.30B | $1.18B | $893.7M | $655.6M | $526.6M | $334.8M | $281.2M | $205.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $678.9M | $533.9M | $485.0M | $365.1M | $319.4M | $227.2M | $224.3M | $184.8M | $130.1M | $98.8M |
| Depreciation and amortisation | $176.3M | $145.9M | $113.9M | $92.7M | $67.2M | $53.4M | $42.2M | $29.7M | $19.4M | $13.6M |
| Stock-based compensation | $118.7M | -$22.9M | $129.8M | $94.9M | $97.5M | $90.1M | $47.3M | $36.6M | $36.1M | $20.7M |
| Capital expenditure | $270.9M | $192.9M | $192.6M | $132.7M | $120.7M | $94.1M | $92.9M | $59.9M | $59.4M | $43.8M |
| Investing cash flow | -$611.2M | -$22.2M | -$196.7M | -$23.3M | -$257.7M | -$117.9M | -$219.5M | -$49.4M | $15.6M | -$204.9M |
| Financing cash flow | $1.02B | $1.11B | -$274.6M | $254.6M | $165.7M | -$165.9M | $650.7M | -$247.8M | $145.7M | $115.5M |
| Dividends paid | $84.8M | $84.8M | $64.8M | — | — | — | — | — | — | — |
| Buybacks | $325.5M | $122.8M | $286.6M | $94.7M | $65.6M | $52.0M | $42.5M | $105.2M | $56.9M | $35.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-059372.
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