Paylocity Holding Corp

Technology
Computer Software: Prepackaged Software
www.paylocity.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $10.38B
PE 46
Debt $243.75M
Cash $3.39B
EV $7.24B
FCF $397.64M

Earnings

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Sales & Net Margins

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Earnings	$227.34M
EBIT	$310.75M
ROE	19%
ROA	6%
FCF	$397.64M
Equity	$1.21B
Growth Stability	100%
PE	45.68
PEG	1.27
PB	8.59
P/FCF	26.12
P/S	6.69
Price/Cash	0.33
Debt/Equity	0.2
Debt/FCF	0.61
Net Margins	15%
Gross Margins	69%
Op. Margins	20%
Earnings CAGR	43%
Sales Growth YoY	13%
Sales Growth QoQ	21%
Sales CAGR	24%
FCF CAGR	37%
Equity CAGR	31%
Earnings Stability	0.82
Earnings Growth YoY	7%
Earnings Growth QoQ	144%

Earnings CAGR 5Y	36%
Sales CAGR 5Y	28%
FCF CAGR 5Y	45%
Equity CAGR 5Y	30%
Earnings CAGR 3Y	24%
Sales CAGR 3Y	24%
FCF CAGR 3Y	47%
Equity CAGR 3Y	31%
Market Cap	$10.38B
Revenue	$1.55B
Assets	$5.17B
Total Debt	$243.75M
Cash	$3.39B
Shares Outstanding	55.54M
EV	7.24B
Earnings Score	94%
Moat Score	87%
Safety Score	97%
Final Score	93%
Working Capital	478.02M
Current Ratio	1.13
Gross Profit	$1.07B
Shares Growth 3y	0%
Equity Growth QoQ	3%
Equity Growth YoY	10%

Assets & ROA

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Stockholders Equity & ROE

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Paylocity is a provider of payroll and human capital management, or HCM, solutions servicing small- to mid-size clients in the United States. The company was founded in 1997 and targets businesses with 10 to 5,000 employees and services about 28,750 clients as of fiscal 2021. Alongside core payroll services, Paylocity offers HCM solutions such as time and attendance and recruiting software, as well workplace collaboration and communication tools.

SEC Filings

Direct access to Paylocity Holding Corp (PCTY) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31

Sector Comparison

How does Paylocity Holding Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Paylocity Holding Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 43%

Stability 82%

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Paylocity Holding Corp Discounted Cash Flow

Fully customizable DCF calculator online for Paylocity Holding Corp.

Years

Calculation mode

= $53B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$398M	$546M	$750M	$1B	$1.4B	$1.9B	$2.7B	$3.7B	$5B	$6.9B	$9.5B	$95B
DCF		$497M	$620M	$775M	$967M	$1.2B	$1.5B	$1.9B	$2.4B	$2.9B	$3.7B	$37B
Value	$53B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Net Margins	-9%	-2%	2%	10%	12%	11%	11%	11%	12%	15%	15%
ROA	-	-0%	1%	1%	3%	3%	2%	2%	4%	7%	6%
ROE	-	-3%	5%	18%	17%	16%	15%	15%	17%	20%	19%

Good Net Margins (14.95%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Debt over FCF	-	-	-	-	-	1.04	-	-	-	0	0.61
Debt over Equity	-	-	-	-	-	0.25	-	-	-	0	0.2
Growth Stability	-	-	-	-	100%	100%	100%	100%	100%	100%	100%

Good Debt/FCF ratio (0.61)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.2)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	CAGR 5Y
Revenue YoY growth	-	51%	30%	26%	24%	20%	13%	34%	38%	19%	28%
Earnings YoY growth	-	-72%	-274%	475%	39%	20%	10%	28%	55%	47%	36%
Equity YoY growth	-	11%	23%	44%	45%	28%	21%	29%	37%	23%	30%
FCF YoY growth	-	711%	140%	87%	36%	-7%	20%	19%	90%	41%	45%