Paylocity (PCTY) Financials

$109.20 -0.68 (-0.62%)

As of 12:46 PM Eastern

Annual Income Statements for Paylocity

This table shows Paylocity's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-14	-3.85	6.72	39	54	64	71	91	141	207	227
Consolidated Net Income / (Loss)	-14	-3.85	6.72	39	54	64	71	91	141	207	227
Net Income / (Loss) Continuing Operations	-14	-3.85	6.72	39	54	64	71	91	141	207	227
Total Pre-Tax Income	-14	-3.67	7.37	17	58	67	57	84	159	277	309
Total Operating Income	-14	-3.55	7.30	16	56	66	58	85	155	260	304
Total Gross Profit	82	133	176	228	314	379	416	566	808	961	1,097
Total Revenue	153	231	300	378	468	561	640	853	1,175	1,403	1,595
Operating Revenue	153	231	300	378	468	561	640	853	1,175	1,403	1,595
Total Cost of Revenue	71	98	124	149	154	182	219	287	367	442	498
Operating Cost of Revenue	71	98	124	149	154	182	219	287	367	442	498
Total Operating Expenses	96	136	169	212	258	313	358	481	653	701	793
Selling, General & Admin Expense	33	48	62	79	95	105	120	164	192	187	213
Marketing Expense	43	62	78	95	113	145	162	214	297	335	374
Research & Development Expense	20	27	29	38	50	63	77	103	164	178	206
Total Other Income / (Expense), net	0.05	-0.12	0.07	0.80	1.82	0.95	-0.94	-1.00	3.59	17	5.04
Other Income / (Expense), net	0.05	-0.12	0.07	0.80	1.82	0.95	-0.94	-1.00	3.59	17	5.04
Income Tax Expense	0.11	0.18	0.65	-22	4.22	2.66	-14	-7.18	18	70	82
Basic Earnings per Share	($0.28)	($0.08)	$0.13	$0.74	$1.02	$1.20	$1.30	$1.65	$2.53	$3.68	$4.08
Weighted Average Basic Shares Outstanding	50.13M	50.91M	51.42M	52.43M	52.91M	53.55M	54.32M	55.04M	55.71M	56.21M	55.65M
Diluted Earnings per Share	($0.28)	($0.08)	$0.12	$0.70	$0.97	$1.15	$1.26	$1.61	$2.49	$3.63	$4.02
Weighted Average Diluted Shares Outstanding	50.13M	50.91M	54.06M	54.89M	55.41M	55.81M	56.31M	56.45M	56.60M	56.98M	56.55M
Weighted Average Basic & Diluted Shares Outstanding	49.90M	48.10M	51.70M	52.20M	52.80M	53.81M	54.60M	55.28M	55.92M	55.57M	55.16M

This table shows Paylocity's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	37	35	38	85	49	50	37	91	49	48	50
Consolidated Net Income / (Loss)	37	35	38	85	49	50	37	91	49	48	50
Net Income / (Loss) Continuing Operations	37	35	38	85	49	50	37	91	49	48	50
Total Pre-Tax Income	52	44	54	111	68	69	47	127	67	75	70
Total Operating Income	49	41	50	106	63	64	47	127	66	74	70
Total Gross Profit	212	216	219	285	240	248	252	325	272	280	282
Total Revenue	308	318	326	401	357	363	377	455	401	408	416
Operating Revenue	308	318	326	401	357	363	377	455	401	408	416
Total Cost of Revenue	97	101	107	116	117	115	125	130	129	128	134
Operating Cost of Revenue	97	101	107	116	117	115	125	130	129	128	134
Total Operating Expenses	162	175	169	179	177	184	206	198	206	206	212
Selling, General & Admin Expense	46	50	43	49	45	48	57	54	54	54	56
Marketing Expense	76	80	80	87	88	88	93	92	101	96	98
Research & Development Expense	41	45	46	43	44	47	56	51	51	56	58
Total Other Income / (Expense), net	2.62	3.23	3.80	4.32	5.57	4.74	0.19	-0.47	0.57	0.70	-0.20
Other Income / (Expense), net	2.62	3.23	3.80	4.32	5.57	4.74	0.19	-0.47	0.57	0.70	-0.20
Income Tax Expense	15	9.90	15	25	20	19	9.35	35	18	27	20
Basic Earnings per Share	$0.67	$0.62	$0.68	$1.51	$0.87	$0.89	$0.67	$1.64	$0.88	$0.87	$0.93
Weighted Average Basic Shares Outstanding	55.71M	56.04M	56.24M	56.37M	56.21M	55.64M	55.83M	55.81M	55.65M	55.01M	54.09M
Diluted Earnings per Share	$0.65	$0.61	$0.67	$1.50	$0.85	$0.88	$0.66	$1.61	$0.87	$0.86	$0.92
Weighted Average Diluted Shares Outstanding	56.60M	56.88M	56.86M	57.05M	56.98M	56.27M	56.74M	56.78M	56.55M	55.86M	54.77M
Weighted Average Basic & Diluted Shares Outstanding	55.92M	56.18M	56.33M	56.43M	55.57M	55.75M	55.89M	55.23M	55.16M	54.38M	53.88M

This table details how cash moves in and out of Paylocity's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Change in Cash & Equivalents	2.41	5.24	-280	194	186	66	454	1,848	-1,372	424	-363
Net Cash From Operating Activities	11	33	62	98	115	113	125	155	283	385	418
Net Cash From Continuing Operating Activities	11	33	62	98	115	113	125	155	283	385	418
Net Income / (Loss) Continuing Operations	-14	-3.85	6.72	39	54	64	71	91	141	207	227
Consolidated Net Income / (Loss)	-14	-3.85	6.72	39	54	64	71	91	141	207	227
Depreciation Expense	8.61	14	21	30	35	38	43	50	61	76	100
Amortization Expense	-	-	-	-0.44	-2.23	-1.68	0.52	0.38	-5.41	-4.38	-2.03
Non-Cash Adjustments To Reconcile Net Income	14	18	30	43	47	48	64	97	150	147	145
Changes in Operating Assets and Liabilities, net	2.95	4.54	4.29	-13	-18	-36	-53	-83	-64	-41	-52
Net Cash From Investing Activities	-199	-673	-38	-179	-43	-49	48	-480	-220	-102	-456
Net Cash From Continuing Investing Activities	-199	-673	-38	-179	-43	-49	48	-480	-220	-102	-456
Purchase of Property, Plant & Equipment	-13	-24	-35	-37	-31	-42	-38	-53	-67	-79	-75
Acquisitions	-12	-0.48	-	-6.66	0.00	-17	-15	-108	0.00	-12	-278
Purchase of Investments	-	-	-	-197	-251	-400	0.00	-434	-599	-304	-261
Sale and/or Maturity of Investments	-	-	-	73	246	411	101	117	447	294	160
Other Investing Activities, net	-174	-648	-2.85	-12	-7.48	0.00	0.00	-2.50	-1.10	-1.08	-1.29
Net Cash From Financing Activities	190	646	-304	275	115	2.09	280	2,172	-1,435	142	-326
Net Cash From Continuing Financing Activities	190	646	-304	275	115	2.09	280	2,172	-1,435	142	-326
Repayment of Debt	-	-	-	0.00	0.00	-0.70	-100	-50	-0.89	-0.07	-163
Repurchase of Common Equity	-0.08	-	-	0.00	-35	-	-	0.00	0.00	-150	-150
Issuance of Debt	-	-	-	0.00	0.00	100	0.00	50	0.00	0.00	325
Issuance of Common Equity	20	2.99	3.68	4.30	5.98	8.90	12	14	17	19	20
Other Financing Activities, net	170	643	-308	271	144	-106	368	2,158	-1,451	273	-358
Cash Interest Paid	-	-	-	0.00	0.00	0.44	0.87	0.31	0.40	0.49	13
Cash Income Taxes Paid	0.16	0.00	0.03	-0.05	0.41	0.08	-0.14	0.01	1.36	48	86

This table details how cash moves in and out of Paylocity's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-418	-70	775	451	-731	-240	920	-134	-910	-161	2,741
Net Cash From Operating Activities	77	62	75	168	80	91	54	186	87	86	117
Net Cash From Continuing Operating Activities	77	62	75	168	80	91	54	186	87	86	117
Net Income / (Loss) Continuing Operations	37	35	38	85	49	50	37	91	49	48	50
Consolidated Net Income / (Loss)	37	35	38	85	49	50	37	91	49	48	50
Depreciation Expense	16	17	18	20	21	22	26	26	26	27	28
Amortization Expense	-1.81	-1.39	-1.29	-1.01	-0.69	-0.66	-0.62	-0.36	-0.39	-0.41	-0.41
Non-Cash Adjustments To Reconcile Net Income	32	39	39	36	32	34	44	36	31	39	43
Changes in Operating Assets and Liabilities, net	-7.01	-27	-20	27	-21	-13	-53	33	-19	-27	-3.63
Net Cash From Investing Activities	79	-9.40	-53	-14	-25	-13	-288	-28	-127	-18	-9.80
Net Cash From Continuing Investing Activities	79	-9.40	-53	-14	-25	-13	-288	-28	-127	-18	-9.80
Purchase of Property, Plant & Equipment	-27	-18	-18	-21	-23	-18	-17	-18	-22	-19	-19
Purchase of Investments	-41	-93	-72	-67	-73	-20	-46	-56	-139	-30	-85
Sale and/or Maturity of Investments	149	101	50	72	72	25	55	43	37	32	94
Other Investing Activities, net	-1.14	-0.41	-0.18	1.37	-1.86	-0.64	-1.31	3.25	-2.60	-0.34	0.33
Net Cash From Financing Activities	-573	-122	752	298	-786	-318	1,154	-292	-869	-230	2,633
Net Cash From Continuing Financing Activities	-573	-122	752	298	-786	-318	1,154	-292	-869	-230	2,633
Repayment of Debt	-0.01	-0.01	13	-13	-0.04	-0.01	-0.01	-82	-81	-81	-0.33
Repurchase of Common Equity	-	-	-	-	-	0.00	-	-83	-59	-200	-100
Other Financing Activities, net	-581	-122	729	311	-646	-643	1,152	-128	-739	52	2,724
Cash Interest Paid	0.12	0.12	0.12	0.13	0.12	0.12	5.06	4.37	3.21	2.33	1.13
Cash Income Taxes Paid	0.79	6.21	19	9.10	13	6.19	40	18	22	7.23	8.10

This table presents Paylocity's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	721	1,391	1,137	1,508	1,804	1,986	2,415	4,809	3,696	4,245	4,389
Total Current Assets	679	1,335	1,063	1,378	1,596	1,663	2,033	4,232	3,048	3,524	3,312
Cash & Equivalents	81	86	103	137	132	251	202	140	289	402	398
Restricted Cash	591	1,240	942	1,226	1,394	1,327	1,760	3,988	2,621	2,952	2,704
Accounts Receivable	1.12	1.68	2.04	3.45	4.36	4.92	6.27	16	25	33	42
Prepaid Expenses	4.42	7.41	15	11	14	13	16	29	35	40	51
Other Current Assets	-	-	-	-	22	32	44	60	78	98	117
Plant, Property, & Equipment, net	16	27	41	62	70	67	60	63	64	61	54
Total Noncurrent Assets	26	29	34	67	138	256	322	514	583	660	1,023
Goodwill	6.00	6.00	6.00	9.59	9.59	22	34	102	102	109	343
Intangible Assets	19	22	26	34	38	50	58	107	121	145	225
Noncurrent Deferred & Refundable Income Taxes	-	-	-	22	6.47	4.96	12	19	16	18	18
Other Noncurrent Operating Assets	0.40	0.85	1.54	1.50	83	179	219	286	345	389	437
Total Liabilities & Shareholders' Equity	721	1,391	1,137	1,508	1,804	1,986	2,415	4,809	3,696	4,245	4,389
Total Liabilities	613	1,271	990	1,295	1,496	1,593	1,938	4,196	2,853	3,212	3,156
Total Current Liabilities	609	1,266	975	1,271	1,456	1,409	1,867	4,121	2,775	3,117	2,905
Accounts Payable	1.33	1.62	2.05	2.99	3.95	1.76	4.23	8.37	6.15	8.64	17
Accrued Expenses	16	25	30	42	58	80	103	124	143	158	193
Other Current Liabilities	592	1,240	942	1,226	1,394	1,327	1,760	3,988	2,625	2,950	2,695
Total Noncurrent Liabilities	3.48	4.90	15	24	40	184	71	75	78	95	250
Long-Term Debt	-	-	-	-	0.00	100	-	-	-	0.00	163
Noncurrent Deferred & Payable Income Tax Liabilities	0.87	0.25	0.40	-	6.94	8.75	1.78	2.22	12	42	33
Other Noncurrent Operating Liabilities	-	-	-	1.12	1.72	75	69	73	66	53	55
Total Equity & Noncontrolling Interests	108	120	148	213	308	393	477	613	843	1,033	1,234
Total Preferred & Common Equity	108	120	148	213	308	393	477	613	843	1,033	1,234
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	108	120	148	213	308	393	477	613	843	1,033	1,234
Common Stock	156	172	193	220	208	228	242	290	381	361	328
Retained Earnings	-48	-52	-45	-6.68	100	164	235	326	467	673	901
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-0.14	0.11	0.68	0.07	-2.30	-4.52	-0.94	5.59

This table presents Paylocity's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2022	12/31/2022	3/31/2023	9/30/2023	12/31/2023	3/31/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025
Total Assets	3,095	3,938	4,194	3,647	4,493	4,953	4,025	5,294	5,168	4,236	6,973
Total Current Assets	2,480	3,309	3,566	2,983	3,807	4,247	3,296	4,237	4,103	3,163	5,894
Cash & Equivalents	65	120	234	305	367	493	779	482	478	165	162
Restricted Cash	2,299	3,066	3,202	2,528	3,272	3,591	2,340	3,542	3,430	2,776	5,510
Accounts Receivable	22	25	27	30	32	34	34	43	44	42	44
Prepaid Expenses	29	30	29	37	49	36	41	63	40	59	53
Other Current Assets	64	69	74	82	87	92	102	107	112	121	125
Plant, Property, & Equipment, net	61	60	60	63	63	61	58	56	54	52	54
Total Noncurrent Assets	555	569	567	601	623	646	671	1,001	1,011	1,021	1,024
Goodwill	102	102	102	102	110	109	109	343	343	343	343
Intangible Assets	109	111	116	128	136	142	148	228	227	221	217
Noncurrent Deferred & Refundable Income Taxes	43	41	18	16	17	19	17	20	18	14	14
Other Noncurrent Operating Assets	300	316	332	355	361	377	397	410	423	443	450
Total Liabilities & Shareholders' Equity	3,095	3,938	4,194	3,647	4,493	4,953	4,025	5,294	5,168	4,236	6,973
Total Liabilities	2,484	3,260	3,425	2,754	3,506	3,854	2,919	4,122	3,959	3,133	5,874
Total Current Liabilities	2,412	3,189	3,355	2,672	3,423	3,765	2,501	3,706	3,625	2,945	5,678
Accounts Payable	6.24	7.61	7.97	8.75	7.97	5.18	16	5.46	8.72	6.01	7.30
Accrued Expenses	106	116	144	132	147	171	156	162	194	174	172
Other Current Liabilities	2,299	3,066	3,202	2,532	3,268	3,589	2,329	3,538	3,423	2,765	5,499
Total Noncurrent Liabilities	73	71	70	82	83	88	418	416	334	187	196
Long-Term Debt	-	-	-	-	-	-	325	325	244	81	81
Noncurrent Deferred & Payable Income Tax Liabilities	2.22	2.22	2.22	18	28	34	41	36	34	51	62
Other Noncurrent Operating Liabilities	70	69	68	64	55	55	52	55	57	55	53
Total Equity & Noncontrolling Interests	611	678	769	893	987	1,099	1,106	1,172	1,209	1,103	1,098
Total Preferred & Common Equity	611	678	769	893	987	1,099	1,106	1,172	1,209	1,103	1,098
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	611	678	769	893	987	1,099	1,106	1,172	1,209	1,103	1,098
Common Stock	259	310	342	396	447	475	377	411	353	149	93
Retained Earnings	356	372	429	501	539	625	723	760	852	949	999
Accumulated Other Comprehensive Income / (Loss)	-4.68	-4.16	-2.24	-4.40	0.53	-0.69	5.88	0.22	3.71	6.27	6.34

This table displays calculated financial ratios and metrics derived from Paylocity's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	40.49%	51.08%	30.04%	25.84%	23.87%	20.04%	13.93%	33.32%	37.76%	19.40%	13.74%
EBITDA Growth	-913.10%	293.97%	178.42%	63.79%	94.32%	14.35%	-2.67%	33.40%	59.52%	63.06%	16.50%
EBIT Growth	-102.29%	73.51%	300.57%	127.32%	246.52%	15.63%	-14.92%	46.39%	89.74%	74.65%	11.57%
NOPAT Growth	-98.36%	74.50%	367.66%	452.51%	41.86%	21.89%	13.28%	27.61%	49.83%	41.05%	15.09%
Net Income Growth	-96.51%	72.44%	274.45%	474.55%	39.45%	19.75%	9.87%	28.18%	55.13%	46.83%	9.85%
EPS Growth	-7.69%	71.43%	250.00%	483.33%	38.57%	18.56%	9.57%	27.78%	54.66%	45.78%	10.74%
Operating Cash Flow Growth	54.26%	197.10%	87.86%	57.90%	17.54%	-2.07%	10.83%	24.19%	82.34%	36.06%	8.72%
Free Cash Flow Firm Growth	-62.83%	325.61%	-147.18%	195.88%	-48.22%	-143.38%	780.05%	379.19%	-161.85%	134.19%	-187.44%
Invested Capital Growth	-39.49%	-113.59%	25.55%	-28.10%	-8.48%	10.29%	-33.01%	-135.92%	41.17%	-12.26%	26.49%
Revenue Q/Q Growth	8.04%	9.41%	5.72%	5.76%	5.35%	1.85%	6.81%	6.86%	7.54%	3.61%	2.80%
EBITDA Q/Q Growth	31.64%	6.76%	18.16%	2.89%	18.45%	-2.43%	4.09%	10.13%	19.02%	6.69%	1.10%
EBIT Q/Q Growth	11.84%	-36.78%	37.79%	-8.07%	33.92%	-5.37%	5.42%	13.01%	26.61%	6.34%	-0.54%
NOPAT Q/Q Growth	12.79%	-27.97%	21.39%	4.32%	28.46%	-6.44%	10.45%	3.71%	16.66%	5.09%	1.56%
Net Income Q/Q Growth	14.00%	-34.27%	30.45%	6.31%	28.06%	-7.59%	10.85%	3.73%	18.62%	5.92%	-0.09%
EPS Q/Q Growth	24.32%	-60.00%	50.00%	6.06%	27.63%	-8.00%	12.50%	3.21%	18.01%	5.83%	0.50%
Operating Cash Flow Q/Q Growth	19.11%	10.08%	31.14%	11.23%	6.83%	-8.16%	11.85%	7.32%	10.54%	0.87%	1.61%
Free Cash Flow Firm Q/Q Growth	0.00%	-5.19%	-15.70%	59.06%	-56.37%	-329.89%	42.79%	-2.23%	-22.32%	-10.81%	-26.40%
Invested Capital Q/Q Growth	21.10%	13.33%	20.22%	9.57%	20.75%	27.07%	16.30%	8.86%	22.50%	22.24%	30.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.57%	57.48%	58.67%	60.48%	67.10%	67.58%	65.10%	66.34%	68.75%	68.50%	68.77%
EBITDA Margin	-3.44%	4.42%	9.47%	12.32%	19.33%	18.41%	15.73%	15.74%	18.22%	24.89%	25.49%
Operating Margin	-9.12%	-1.54%	2.43%	4.22%	12.02%	11.79%	9.08%	9.92%	13.20%	18.54%	19.06%
EBIT Margin	-9.08%	-1.59%	2.46%	4.44%	12.41%	11.96%	8.93%	9.80%	13.50%	19.75%	19.37%
Profit (Net Income) Margin	-9.15%	-1.67%	2.24%	10.22%	11.51%	11.48%	11.07%	10.65%	11.99%	14.74%	14.24%
Tax Burden Percent	100.76%	104.82%	91.17%	230.42%	92.72%	96.03%	124.02%	108.59%	88.78%	74.64%	73.49%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	8.83%	-130.42%	7.28%	3.97%	-24.02%	-8.59%	11.22%	25.36%	26.51%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-14.06%	-3.39%	5.03%	21.42%	20.67%	18.39%	16.28%	16.65%	19.34%	22.04%	20.04%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-2.22%	-0.35%	0.58%	1.27%	3.51%	3.54%	2.60%	2.31%	3.73%	6.98%	7.16%
Return on Assets (ROA)	-2.24%	-0.36%	0.53%	2.92%	3.25%	3.40%	3.22%	2.51%	3.31%	5.21%	5.26%
Return on Common Equity (ROCE)	-14.06%	-3.39%	5.03%	21.42%	20.67%	18.39%	16.28%	16.65%	19.34%	22.04%	20.04%
Return on Equity Simple (ROE_SIMPLE)	-12.99%	-3.22%	4.55%	18.14%	17.48%	16.40%	14.85%	14.80%	16.71%	20.01%	0.00%
Net Operating Profit after Tax (NOPAT)	-9.74	-2.49	6.65	37	52	64	72	92	138	194	223
NOPAT Margin	-6.38%	-1.08%	2.22%	9.73%	11.15%	11.32%	11.26%	10.77%	11.72%	13.84%	14.01%
Net Nonoperating Expense Percent (NNEP)	-0.72%	-0.14%	0.01%	0.15%	0.12%	0.06%	-0.07%	-0.04%	0.09%	0.40%	0.12%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	16.00%
Cost of Revenue to Revenue	46.43%	42.52%	41.33%	39.52%	32.90%	32.42%	34.29%	33.66%	31.25%	31.50%	31.23%
SG&A Expenses to Revenue	21.50%	20.63%	20.71%	20.99%	20.24%	18.75%	18.73%	19.20%	16.33%	13.36%	13.35%
R&D to Revenue	13.01%	11.59%	9.70%	9.97%	10.76%	11.18%	11.99%	12.07%	13.96%	12.72%	12.90%
Operating Expenses to Revenue	62.69%	59.02%	56.24%	56.26%	55.08%	55.79%	56.02%	56.42%	55.55%	49.96%	49.71%
Earnings before Interest and Taxes (EBIT)	-14	-3.67	7.37	17	58	67	57	84	159	277	309
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-5.26	10	28	47	90	103	101	134	214	349	407
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	16.87	18.43	15.77	14.56	16.14	19.93	21.79	15.67	12.22	7.20	8.11
Price to Tangible Book Value (P/TBV)	22.06	24.03	20.18	18.32	19.11	24.37	26.98	23.80	16.61	9.55	15.03
Price to Revenue (P/Rev)	11.89	9.55	7.76	8.21	10.63	13.95	16.25	11.28	8.77	5.31	6.27
Price to Earnings (P/E)	0.00	0.00	346.42	80.29	92.34	121.52	146.78	105.92	73.14	35.98	44.06
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.29%	1.25%	1.08%	0.82%	0.68%	0.94%	1.37%	2.78%	2.27%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	7.48	3.80	4.27	4.60	7.30	11.26	13.18	6.44	6.29	2.91	4.43
Enterprise Value to EBITDA (EV/EBITDA)	0.00	86.04	45.12	37.32	37.77	61.15	83.78	40.89	34.52	11.71	17.38
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	173.88	103.61	58.81	94.16	147.59	65.64	46.59	14.75	22.87
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	192.64	47.23	65.48	99.45	117.09	59.74	53.69	21.05	31.63
Enterprise Value to Operating Cash Flow (EV/OCF)	102.87	26.60	20.67	17.73	29.68	56.10	67.51	35.39	26.14	10.62	16.90
Enterprise Value to Free Cash Flow (EV/FCFF)	7.61	1.37	0.00	6.00	22.80	0.00	19.08	2.59	0.00	9.13	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.25	0.00	0.00	0.00	0.00	0.13
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.25	0.00	0.00	0.00	0.00	0.13
Financial Leverage	-5.88	-8.80	-8.88	-6.68	-5.61	-4.38	-4.00	-5.59	-4.83	-3.34	-2.78
Leverage Ratio	6.28	9.29	9.46	7.34	6.36	5.41	5.06	6.63	5.84	4.23	3.81
Compound Leverage Factor	6.28	9.29	9.46	7.34	6.36	5.41	5.06	6.63	5.84	4.23	3.81
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	20.29%	0.00%	0.00%	0.00%	0.00%	11.64%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	20.29%	0.00%	0.00%	0.00%	0.00%	11.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	79.71%	100.00%	100.00%	100.00%	100.00%	88.36%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.97	0.00	0.00	0.00	0.00	0.40
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-14.64	0.00	0.00	0.00	0.00	-7.23
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.97	0.00	0.00	0.00	0.00	0.40
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	1.57	0.00	0.00	0.00	0.00	0.73
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-23.81	0.00	0.00	0.00	0.00	-13.16
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	1.57	0.00	0.00	0.00	0.00	0.73
Altman Z-Score	1.95	1.20	1.73	1.80	2.53	3.61	3.78	1.73	2.89	2.27	2.90
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.11	1.05	1.09	1.08	1.10	1.18	1.09	1.03	1.10	1.13	1.14
Quick Ratio	0.14	0.07	0.11	0.11	0.11	0.21	0.11	0.04	0.11	0.14	0.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	150	639	-302	289	150	-65	442	2,116	-1,309	448	-391
Operating Cash Flow to CapEx	83.91%	134.81%	177.19%	262.28%	366.09%	266.37%	328.08%	294.87%	422.52%	488.45%	554.13%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.22	0.24	0.29	0.28	0.30	0.29	0.24	0.28	0.35	0.37
Accounts Receivable Turnover	163.23	165.02	161.25	137.46	119.74	120.96	114.30	77.44	57.52	48.29	42.75
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.46	10.77	8.88	7.35	7.08	8.21	10.11	13.90	18.51	22.49	27.78
Accounts Payable Turnover	40.98	66.54	67.62	59.25	44.31	63.76	73.28	45.54	50.53	59.73	38.35
Days Sales Outstanding (DSO)	2.24	2.21	2.26	2.66	3.05	3.02	3.19	4.71	6.35	7.56	8.54
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	8.91	5.49	5.40	6.16	8.24	5.72	4.98	8.01	7.22	6.11	9.52
Cash Conversion Cycle (CCC)	-6.67	-3.27	-3.13	-3.50	-5.19	-2.71	-1.79	-3.30	-0.88	1.45	-0.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-565	-1,207	-898	-1,151	-1,248	-1,120	-1,489	-3,514	-2,067	-2,321	-1,706
Invested Capital Turnover	-0.31	-0.26	-0.29	-0.37	-0.39	-0.47	-0.49	-0.34	-0.42	-0.64	-0.79
Increase / (Decrease) in Invested Capital	-160	-642	308	-252	-98	128	-370	-2,025	1,447	-253	615
Enterprise Value (EV)	1,142	878	1,281	1,736	3,414	6,320	8,428	5,487	7,389	4,087	7,067
Market Capitalization	1,815	2,204	2,327	3,099	4,970	7,832	10,395	9,615	10,299	7,440	10,007
Book Value per Share	$2.13	$2.34	$2.87	$4.04	$5.81	$7.32	$8.75	$11.13	$15.10	$18.31	$22.34
Tangible Book Value per Share	$1.63	$1.80	$2.24	$3.21	$4.91	$5.99	$7.07	$7.33	$11.11	$13.81	$12.05
Total Capital	108	120	148	213	308	493	477	613	843	1,033	1,396
Total Debt	0.00	0.00	0.00	0.00	0.00	100	0.00	0.00	0.00	0.00	163
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	100	0.00	0.00	0.00	0.00	163
Net Debt	-672	-1,326	-1,046	-1,364	-1,556	-1,513	-1,966	-4,128	-2,910	-3,354	-2,940
Capital Expenditures (CapEx)	13	24	35	37	31	42	38	53	67	79	75
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-603	-1,257	-958	-1,256	-1,416	-1,358	-1,801	-4,016	-2,637	-2,947	-2,696
Debt-free Net Working Capital (DFNWC)	69	69	88	107	140	254	166	111	274	407	407
Net Working Capital (NWC)	69	69	88	107	140	254	166	111	274	407	407
Net Nonoperating Expense (NNE)	4.23	1.37	-0.07	-1.85	-1.69	-0.91	1.16	1.08	-3.19	-13	-3.70
Net Nonoperating Obligations (NNO)	-672	-1,326	-1,046	-1,364	-1,556	-1,513	-1,966	-4,128	-2,910	-3,354	-2,940
Total Depreciation and Amortization (D&A)	8.61	14	21	30	32	36	43	51	55	72	98
Debt-free, Cash-free Net Working Capital to Revenue	-395.02%	-544.92%	-319.29%	-332.73%	-302.83%	-242.01%	-281.54%	-471.05%	-224.46%	-210.10%	-168.97%
Debt-free Net Working Capital to Revenue	45.38%	29.90%	29.35%	28.45%	29.97%	45.29%	25.94%	13.04%	23.30%	29.03%	25.49%
Net Working Capital to Revenue	45.38%	29.90%	29.35%	28.45%	29.97%	45.29%	25.94%	13.04%	23.30%	29.03%	25.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.28)	($0.08)	$0.13	$0.74	$1.02	$1.20	$1.30	$1.65	$2.53	$3.68	$4.08
Adjusted Weighted Average Basic Shares Outstanding	50.13M	50.91M	51.42M	52.43M	52.91M	53.55M	54.32M	55.04M	55.71M	56.21M	55.65M
Adjusted Diluted Earnings per Share	($0.28)	($0.08)	$0.12	$0.70	$0.97	$1.15	$1.26	$1.61	$2.49	$3.63	$4.02
Adjusted Weighted Average Diluted Shares Outstanding	50.13M	50.91M	54.06M	54.89M	55.41M	55.81M	56.31M	56.45M	56.60M	56.98M	56.55M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.71M	51.16M	51.75M	52.77M	53.08M	53.81M	54.60M	55.28M	55.92M	55.57M	55.16M
Normalized Net Operating Profit after Tax (NOPAT)	-9.74	-2.49	6.65	11	52	64	41	59	138	194	223
Normalized NOPAT Margin	-6.38%	-1.08%	2.22%	2.96%	11.15%	11.32%	6.35%	6.94%	11.72%	13.84%	14.01%
Pre Tax Income Margin	-9.08%	-1.59%	2.46%	4.44%	12.41%	11.96%	8.93%	9.80%	13.50%	19.75%	19.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.54%	0.00%	0.00%	0.00%	65.01%	0.00%	0.00%	0.00%	0.00%	72.55%	65.88%

This table displays calculated financial ratios and metrics derived from Paylocity's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	36.44%	25.39%	19.54%	18.07%	15.83%	14.29%	15.51%	13.27%	12.16%	12.46%	10.39%
EBITDA Growth	105.82%	194.17%	122.42%	36.23%	32.90%	49.27%	1.79%	17.16%	5.00%	13.57%	35.77%
EBIT Growth	178.97%	541.26%	193.94%	35.69%	31.77%	55.10%	-12.50%	14.42%	-2.46%	8.75%	49.90%
NOPAT Growth	131.14%	3.04%	126.92%	44.30%	26.76%	44.20%	5.37%	12.01%	7.46%	2.99%	34.93%
Net Income Growth	145.97%	13.72%	144.33%	48.07%	31.04%	43.62%	-1.71%	7.23%	-0.44%	-3.19%	33.98%
EPS Growth	140.74%	12.96%	139.29%	47.06%	30.77%	44.26%	-1.49%	7.33%	2.35%	-2.27%	39.39%
Operating Cash Flow Growth	54.28%	279.22%	20.36%	31.55%	4.33%	47.17%	-27.80%	11.03%	8.30%	-5.47%	115.86%
Free Cash Flow Firm Growth	-169.19%	121.82%	-82.53%	135.27%	121.14%	-194.45%	-148.87%	-209.71%	-289.94%	155.94%	2,401.35%
Invested Capital Growth	41.17%	-10.64%	-5.74%	-11.89%	-12.26%	13.02%	4.71%	17.75%	26.49%	-4.03%	-77.81%
Revenue Q/Q Growth	-9.24%	2.96%	2.76%	22.96%	-10.96%	1.59%	3.86%	20.58%	-11.84%	1.86%	1.95%
EBITDA Q/Q Growth	-30.20%	-9.62%	17.38%	84.16%	-31.91%	1.51%	-19.96%	111.76%	-38.97%	9.79%	-4.31%
EBIT Q/Q Growth	-36.25%	-14.54%	20.47%	106.73%	-38.09%	0.59%	-32.04%	170.34%	-47.22%	12.15%	-6.32%
NOPAT Q/Q Growth	-37.73%	-9.52%	10.62%	131.52%	-45.30%	2.93%	-19.17%	146.10%	-47.52%	-1.35%	5.89%
Net Income Q/Q Growth	-35.34%	-7.35%	10.43%	123.83%	-42.78%	1.54%	-24.42%	144.18%	-46.87%	-1.27%	4.60%
EPS Q/Q Growth	-36.27%	-6.15%	9.84%	123.88%	-43.33%	3.53%	-25.00%	143.94%	-45.96%	-1.15%	6.98%
Operating Cash Flow Q/Q Growth	-39.84%	-18.89%	20.80%	123.16%	-52.29%	14.42%	-40.73%	243.17%	-53.46%	-0.13%	35.33%
Free Cash Flow Firm Q/Q Growth	-24.74%	115.49%	-18.01%	122.59%	-25.25%	-169.23%	57.57%	-399.67%	-29.42%	120.39%	1,645.41%
Invested Capital Q/Q Growth	22.50%	6.12%	-36.64%	-12.54%	22.24%	27.26%	-49.70%	2.85%	30.51%	-2.94%	-155.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.65%	68.05%	67.09%	71.10%	67.29%	68.33%	66.96%	71.43%	67.84%	68.55%	67.80%
EBITDA Margin	21.57%	18.94%	21.63%	32.37%	24.75%	24.73%	19.06%	33.48%	23.17%	24.98%	23.45%
Operating Margin	16.00%	12.97%	15.23%	26.49%	17.61%	17.67%	12.37%	27.95%	16.53%	18.18%	16.91%
EBIT Margin	16.85%	13.98%	16.39%	27.57%	19.17%	18.98%	12.42%	27.84%	16.67%	18.35%	16.86%
Profit (Net Income) Margin	12.08%	10.87%	11.68%	21.26%	13.66%	13.66%	9.94%	20.13%	12.13%	11.76%	12.06%
Tax Burden Percent	71.69%	77.72%	71.24%	77.13%	71.29%	71.96%	80.03%	72.28%	72.76%	64.06%	71.53%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	28.32%	22.28%	28.76%	22.87%	28.71%	28.04%	19.97%	27.72%	27.24%	35.94%	28.47%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	19.34%	19.29%	20.13%	20.90%	22.04%	22.20%	20.49%	19.70%	20.04%	20.42%	20.99%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	4.65%	5.14%	5.03%	8.16%	6.77%	7.16%	3.80%	8.54%	6.16%	7.29%	4.62%
Return on Assets (ROA)	3.34%	3.99%	3.58%	6.29%	4.83%	5.16%	3.04%	6.17%	4.48%	4.67%	3.30%
Return on Common Equity (ROCE)	19.34%	19.29%	20.13%	20.90%	22.04%	22.20%	20.49%	19.70%	20.04%	20.42%	20.99%
Return on Equity Simple (ROE_SIMPLE)	0.00%	16.24%	16.97%	17.76%	0.00%	20.06%	18.87%	18.81%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	35	32	35	82	45	46	37	92	48	48	50
NOPAT Margin	11.47%	10.08%	10.85%	20.43%	12.55%	12.72%	9.90%	20.20%	12.03%	11.65%	12.10%
Net Nonoperating Expense Percent (NNEP)	0.05%	0.10%	0.08%	0.09%	0.13%	0.12%	0.00%	-0.01%	0.01%	0.02%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	3.59%	-	-	-	2.49%	6.32%	3.45%	4.01%	4.27%
Cost of Revenue to Revenue	31.35%	31.95%	32.91%	28.90%	32.71%	31.67%	33.04%	28.57%	32.16%	31.45%	32.20%
SG&A Expenses to Revenue	14.90%	15.72%	13.28%	12.18%	12.67%	13.27%	14.99%	11.99%	13.41%	13.13%	13.44%
R&D to Revenue	13.15%	14.05%	14.14%	10.81%	12.37%	13.02%	14.90%	11.31%	12.74%	13.62%	13.88%
Operating Expenses to Revenue	52.65%	55.08%	51.86%	44.61%	49.68%	50.65%	54.59%	43.49%	51.32%	50.37%	50.89%
Earnings before Interest and Taxes (EBIT)	52	44	54	111	68	69	47	127	67	75	70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	67	60	71	130	88	90	72	152	93	102	98
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	12.22	11.38	9.38	8.81	7.20	8.29	9.49	8.66	8.11	7.96	7.55
Price to Tangible Book Value (P/TBV)	16.61	15.32	12.49	11.40	9.55	10.79	18.49	16.40	15.03	16.29	15.41
Price to Revenue (P/Rev)	8.77	8.20	7.17	7.15	5.31	6.33	7.42	6.75	6.27	5.36	4.94
Price to Earnings (P/E)	73.14	70.08	55.29	49.60	35.98	41.33	50.28	46.05	44.06	38.95	34.80
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.37%	1.43%	1.81%	2.02%	2.78%	2.42%	1.99%	2.17%	2.27%	2.57%	2.87%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	6.29	5.91	4.35	4.13	2.91	4.40	4.95	4.39	4.43	3.61	1.61
Enterprise Value to EBITDA (EV/EBITDA)	34.52	28.88	19.21	17.11	11.71	16.83	19.53	16.92	17.38	14.15	6.08
Enterprise Value to EBIT (EV/EBIT)	46.59	37.37	24.30	21.49	14.75	21.14	25.17	21.90	22.87	18.81	7.98
Enterprise Value to NOPAT (EV/NOPAT)	53.69	52.40	35.20	30.30	21.05	30.60	35.33	30.94	31.63	26.36	11.36
Enterprise Value to Operating Cash Flow (EV/OCF)	26.14	22.31	16.48	14.68	10.62	15.39	18.88	16.54	16.90	14.34	5.68
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	22.44	18.52	11.15	9.13	0.00	87.19	0.00	0.00	20.24	1.23
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.29	0.28	0.20	0.13	0.07	0.07
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.29	0.28	0.20	0.13	0.07	0.07
Financial Leverage	-4.83	-3.46	-4.10	-4.03	-3.34	-2.82	-3.40	-3.36	-2.78	-2.56	-4.09
Leverage Ratio	5.84	4.48	5.06	4.90	4.23	3.84	4.53	4.38	3.81	3.74	5.40
Compound Leverage Factor	5.84	4.48	5.06	4.90	4.23	3.84	4.53	4.38	3.81	3.74	5.40
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	22.71%	21.71%	16.78%	11.64%	6.86%	6.89%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	22.71%	21.71%	16.78%	11.64%	6.86%	6.89%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	77.29%	78.29%	83.22%	88.36%	93.14%	93.11%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.86	0.86	0.61	0.40	0.19	0.18
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-7.38	-9.74	-9.11	-7.23	-6.83	-12.58
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.86	0.86	0.61	0.40	0.19	0.18
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	1.56	1.55	1.11	0.73	0.36	0.34
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-13.42	-17.61	-16.65	-13.16	-12.72	-23.51
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	1.56	1.55	1.11	0.73	0.36	0.34
Altman Z-Score	2.80	2.89	2.18	2.15	2.11	2.79	2.25	2.31	2.71	2.50	1.36
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.10	1.12	1.11	1.13	1.13	1.32	1.14	1.13	1.14	1.07	1.04
Quick Ratio	0.11	0.13	0.12	0.14	0.14	0.33	0.14	0.14	0.15	0.07	0.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,411	219	179	399	298	-207	-88	-438	-567	116	2,017
Operating Cash Flow to CapEx	279.43%	352.14%	417.57%	814.15%	354.43%	521.47%	312.00%	1,017.68%	388.41%	448.96%	606.12%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.37	0.31	0.30	0.35	0.38	0.31	0.31	0.37	0.40	0.27
Accounts Receivable Turnover	57.52	47.99	45.33	44.26	48.29	44.95	39.46	40.13	42.75	43.15	38.40
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	18.51	19.94	21.07	22.40	22.49	23.88	25.17	27.06	27.78	29.92	30.46
Accounts Payable Turnover	50.53	51.25	51.50	64.12	59.73	36.73	70.31	69.96	38.35	46.41	81.66
Days Sales Outstanding (DSO)	6.35	7.61	8.05	8.25	7.56	8.12	9.25	9.10	8.54	8.46	9.51
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	7.22	7.12	7.09	5.69	6.11	9.94	5.19	5.22	9.52	7.87	4.47
Cash Conversion Cycle (CCC)	-0.88	0.48	0.96	2.55	1.45	-1.82	4.06	3.88	-0.98	0.59	5.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-2,067	-1,941	-2,652	-2,984	-2,321	-1,688	-2,527	-2,455	-1,706	-1,756	-4,493
Invested Capital Turnover	-0.42	-0.67	-0.50	-0.48	-0.64	-0.80	-0.58	-0.57	-0.79	-0.95	-0.48
Increase / (Decrease) in Invested Capital	1,447	-187	-144	-317	-253	253	125	530	615	-68	-1,966
Enterprise Value (EV)	7,389	7,327	5,622	5,597	4,087	6,373	7,421	6,806	7,067	5,926	2,702
Market Capitalization	10,299	10,161	9,261	9,681	7,440	9,167	11,120	10,470	10,007	8,786	8,293
Book Value per Share	$15.10	$15.96	$17.57	$19.52	$18.31	$19.90	$21.03	$21.63	$22.34	$20.00	$20.20
Tangible Book Value per Share	$11.11	$11.86	$13.20	$15.08	$13.81	$15.29	$10.79	$11.43	$12.05	$9.77	$9.90
Total Capital	843	893	987	1,099	1,033	1,431	1,497	1,452	1,396	1,185	1,180
Total Debt	0.00	0.00	0.00	0.00	0.00	325	325	244	163	81	81
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	325	325	244	163	81	81
Net Debt	-2,910	-2,833	-3,639	-4,084	-3,354	-2,794	-3,699	-3,664	-2,940	-2,860	-5,591
Capital Expenditures (CapEx)	27	18	18	21	23	18	17	18	22	19	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,637	-2,523	-3,255	-3,603	-2,947	-2,323	-3,492	-3,429	-2,696	-2,723	-5,457
Debt-free Net Working Capital (DFNWC)	274	311	384	481	407	796	532	478	407	218	216
Net Working Capital (NWC)	274	311	384	481	407	796	532	478	407	218	216
Net Nonoperating Expense (NNE)	-1.88	-2.51	-2.71	-3.34	-3.97	-3.41	-0.15	0.34	-0.42	-0.45	0.15
Net Nonoperating Obligations (NNO)	-2,910	-2,833	-3,639	-4,084	-3,354	-2,794	-3,699	-3,664	-2,940	-2,860	-5,591
Total Depreciation and Amortization (D&A)	15	16	17	19	20	21	25	26	26	27	27
Debt-free, Cash-free Net Working Capital to Revenue	-224.46%	-203.62%	-251.87%	-266.13%	-210.10%	-160.47%	-233.06%	-220.99%	-168.97%	-166.00%	-324.89%
Debt-free Net Working Capital to Revenue	23.30%	25.08%	29.70%	35.56%	29.03%	54.95%	35.48%	30.80%	25.49%	13.27%	12.85%
Net Working Capital to Revenue	23.30%	25.08%	29.70%	35.56%	29.03%	54.95%	35.48%	30.80%	25.49%	13.27%	12.85%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.67	$0.62	$0.68	$1.51	$0.87	$0.89	$0.67	$1.64	$0.88	$0.87	$0.93
Adjusted Weighted Average Basic Shares Outstanding	55.71M	56.04M	56.24M	56.37M	56.21M	55.64M	55.83M	55.81M	55.65M	55.01M	54.09M
Adjusted Diluted Earnings per Share	$0.65	$0.61	$0.67	$1.50	$0.85	$0.88	$0.66	$1.61	$0.87	$0.86	$0.92
Adjusted Weighted Average Diluted Shares Outstanding	56.60M	56.88M	56.86M	57.05M	56.98M	56.27M	56.74M	56.78M	56.55M	55.86M	54.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	55.92M	56.18M	56.33M	56.43M	55.57M	55.75M	55.89M	55.23M	55.16M	54.38M	53.88M
Normalized Net Operating Profit after Tax (NOPAT)	35	32	35	82	45	46	37	92	48	48	50
Normalized NOPAT Margin	11.47%	10.08%	10.85%	20.43%	12.55%	12.72%	9.90%	20.20%	12.03%	11.65%	12.10%
Pre Tax Income Margin	16.85%	13.98%	16.39%	27.57%	19.17%	18.98%	12.42%	27.84%	16.67%	18.35%	16.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	72.55%	0.00%	71.62%	106.04%	65.88%	155.02%	185.18%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, investor-focused snapshot of Paylocity (PCTY) using the latest four years of quarterly cash flow statements, income statements, and balance sheets provided. The bullets highlight key trends and potential impacts for investors.

Rising revenue over the four-year window. Revenue has grown from roughly $226 million in 2022 (Q3 2022 baseline) to around $416 million in 2026 (latest Q2), reflecting sustained top-line expansion.
Strong gross margins across periods. Gross margin has typically been in the mid-60s to low-70s percent range (e.g., about 67.8% in Q2 2026 and around 70%+ in some 2025 quarters), indicating efficient core operations for a software/HR-services provider.
Consistent quarterly profitability. Net income/continuing operations has been positive in recent quarters, with notable spikes (e.g., Q3 2025 net income ≈ $91.5M) and ongoing positive quarterly earnings into 2025–2026.
Solid operating cash flow and improving free cash flow. Net cash from continuing operating activities has trended up (e.g., about $86.6M in some late-2025 quarters to ≈$117.0M in Q2 2026), and free cash flow appears favorable after subtracting capex (e.g., roughly $98M free cash flow in Q2 2026 after capex of about $19–22M).
Financing activities provide liquidity to fund growth. In the latest quarter, net cash from financing activities was strongly positive (multi-billion level in Q2 2026’s financing line), boosting liquidity to support expansion initiatives.
Cash on hand remains modest relative to liabilities. Cash & equivalents sit around $160M in mid-2026, while total liabilities are well into the billions, indicating liquidity is solid but not expansive compared with obligations.
Very large near-term liabilities on the balance sheet. Total current liabilities are substantial (roughly $5.6–5.7B in recent periods), which could stress near-term liquidity if cash flows falter.
Significant reliance on external capital in recent quarters. The 2026 Q2 financing activity shows large inflows, underscoring dependence on external funding to propel growth, with potential dilution or cost implications for shareholders.
Liability-heavy balance sheet relative to assets. Total liabilities (~$5.9B) approach or exceed a large portion of total assets (~$7.0B in mid-2026), signaling meaningful leverage risk if operating conditions tighten.
Dilution concerns tied to financing activity. The sizable Other Financing Activities and large net financing inflows may imply future equity dilution or higher financing costs if debt levels rise further to support growth.

05/12/26 12:46 PM ETAI Generated. May Contain Errors.

Paylocity Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Paylocity's fiscal year ends in June. Their fiscal year 2025 ended on June 30, 2025.

Paylocity's net income appears to be on an upward trend, with a most recent value of $227.13 million in 2025, falling from -$13.97 million in 2015. The previous period was $206.77 million in 2024. See where experts think Paylocity is headed by visiting Paylocity's forecast page.

Paylocity's total operating income in 2025 was $304.02 million, based on the following breakdown:

Total Gross Profit: $1.10 billion
Total Operating Expenses: $792.97 million

Over the last 10 years, Paylocity's total revenue changed from $152.70 million in 2015 to $1.60 billion in 2025, a change of 944.7%.

Paylocity's total liabilities were at $3.16 billion at the end of 2025, a 1.8% decrease from 2024, and a 414.8% increase since 2015.

In the past 10 years, Paylocity's cash and equivalents has ranged from $81.26 million in 2015 to $401.81 million in 2024, and is currently $398.07 million as of their latest financial filing in 2025.

Over the last 10 years, Paylocity's book value per share changed from 2.13 in 2015 to 22.34 in 2025, a change of 951.2%.

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Financial statements for NASDAQ:PCTY last updated on 2/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Paylocity (PCTY) Financials

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Paylocity (PCTY) Financials

Annual Income Statements for Paylocity

Quarterly Income Statements for Paylocity

Annual Cash Flow Statements for Paylocity

Quarterly Cash Flow Statements for Paylocity

Annual Balance Sheets for Paylocity

Quarterly Balance Sheets for Paylocity

Annual Metrics And Ratios for Paylocity

Quarterly Metrics And Ratios for Paylocity

Financials Breakdown Chart

Key Financial Trends

Paylocity Financials - Frequently Asked Questions

When does Paylocity's financial year end?

How has Paylocity's net income changed over the last 10 years?

What is Paylocity's operating income?

How has Paylocity's revenue changed over the last 10 years?

How much debt does Paylocity have?

How much cash does Paylocity have?

How has Paylocity's book value per share changed over the last 10 years?

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