Business Description

Paylocity Holding Corporation, founded in 1997, provides cloud-based payroll and human capital management solutions primarily to mid-market companies in the United States. Its flagship Paylocity Workforce platform and mobile app deliver integrated payroll, HR management, and analytics services. Under CEO Steve Singletary’s leadership since 2014, the company has secured a strong market position with high customer retention. Future initiatives include expanding its product offerings and enhancing AI-driven features to meet evolving HR demands.

Financial Statements

In thousands, USD
FY 2026FY 2025FY 2024FY 2023FY 2022
Total Revenues1,771,3261,595,2211,402,5151,174,598852,651
Cost of Sales545,824498,223441,729367,039287,002
Gross Profit1,225,5021,096,998960,786807,559565,649
Selling, General & Administrative Expenses618,120587,123522,360488,539378,147
Research & Development Expenses221,389205,851178,333163,994102,908
Operating Profit385,993304,024260,093155,02684,594
Non-Operating Income1,3105,03916,9223,588(997)
Total Non-Operating Income1,3105,03916,9223,588(997)
Income Before Provision for Income Taxes387,303309,063277,015158,61483,597
Provision for Income Taxes117,56281,93670,24917,792(7,180)
Consolidated Net Income269,741227,127206,766140,82290,777
Net Income Attributable to Common Shareholders269,741227,127206,766140,82290,777
Basic EPS4.994.083.682.531.65
Diluted EPS4.924.023.632.491.61
Basic Weighted Average Shares Outstanding54,08255,64956,21455,70655,036
Diluted Weighted Average Shares Outstanding54,77056,55056,97656,59656,445
Shares Outstanding53,27155,36655,51455,91255,190
FY 2026FY 2025FY 2024FY 2023FY 2022
Cash and Cash Equivalents271,917398,070401,811288,767139,756
Total Cash and Cash Equivalents271,917398,070401,811288,767139,756
Accounts Receivable50,09341,64232,99725,08515,754
Total Trade Receivables50,09341,64232,99725,08515,754
Other Current Assets3,401,0462,872,2573,089,6842,734,5854,076,173
Total Current Assets3,723,0563,311,9693,524,4923,048,4374,231,683
Net Property, Plant & Equipment104,54090,20794,432108,136112,049
Net Intangible Assets229,734224,988144,703120,654107,460
Goodwill378,964343,100108,937102,054101,949
Other Long-Term Assets448,064419,164372,896316,399255,873
Total Assets4,884,3584,389,4284,245,4603,695,6804,809,014
Accounts Payable10,94417,3478,6386,1538,374
Accrued Expenses200,279193,081158,311143,287124,384
Other Current Liabilities3,209,0152,694,8422,950,4112,625,3553,987,776
Total Current Liabilities3,420,2382,905,2703,117,3602,774,7954,120,534
Long-Term Debt81,250162,500
Leases42,20046,77246,81462,47169,119
Other Long-Term Liabilities119,25341,13948,22215,5515,898
Total Long-Term Liabilities242,703250,41195,03678,02275,017
Total Liabilities3,662,9413,155,6813,212,3962,852,8174,195,551
Common Stock5355565655
Additional Paid-in Capital52,271327,518360,488380,632289,843
Accumulated Other Comprehensive Income(1,231)5,591(936)(4,515)(2,303)
Retained Earnings1,170,324900,583673,456466,690325,868
Total Common Shareholders' Equity1,221,4171,233,7471,033,064842,863613,463
Total Shareholders' Equity1,221,4171,233,7471,033,064842,863613,463
Total Liabilities and Shareholders' Equity4,884,3584,389,4284,245,4603,695,6804,809,014
FY 2026FY 2025FY 2024FY 2023FY 2022
Net Income269,741227,127206,766140,82290,777
Depreciation & Amortization111,79799,63676,42660,86650,218
Share-Based Compensation Expense138,657142,820146,032147,30096,202
Other Adjustments84,704(2,806)24,06011,055(5,985)
Changes in Trade Receivables(7,929)(3,557)(8,186)(9,407)(7,605)
Changes in Accounts Payable(6,472)7,2872,423(1,554)2,553
Changes in Accrued Expenses1,89218,46013,31518,41616,923
Changes in Other Operating Activities(59,138)(70,741)(76,166)(84,775)(88,030)
Cash from Operating Activities533,252418,226384,670282,723155,053
Capital Expenditure(36,152)(13,073)(18,028)(21,910)(18,069)
Purchases of Intangible Assets(69,302)(62,402)(60,726)(45,004)(34,515)
Purchases of Investments(271,378)(260,997)(304,465)(598,895)(433,962)
Proceeds from Sale of Investments272,115160,067294,438446,751116,848
Payments for Business Acquisitions(49,183)(277,851)(12,031)(107,576)
Other Investing Activities(893)(1,292)(1,079)(1,104)(2,500)
Cash from Investing Activities(154,793)(455,548)(101,891)(220,162)(479,774)
Issuance of Long-Term Debt325,00050,000
Repayments of Long-Term Debt(81,250)(162,500)(50,000)
Net Issuance / (Repayments) of Long-Term Debt(81,250)162,5000
Issuance of Common Shares18,22219,68219,14316,91614,103
Repurchases of Common Shares(441,799)(209,672)(202,549)(88,312)(69,761)
Net Issuance / (Repurchases) of Common Shares(423,577)(189,990)(183,406)(71,396)(55,658)
Other Financing Activities470,122(358,365)272,435(1,451,618)2,158,190
Cash from Financing Activities8,981(325,821)141,578(1,434,702)2,172,293
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash387,440(363,143)424,357(1,372,141)1,847,572

Key Metrics & Ratios

MetricValue
Market Cap$10.03B
P/E45.07x
P/S6.29x
EV/EBITDA24.38x
Return on Equity20.0%
Return on Invested Capital6.0%
Current Ratio1.14x
Free Cash Flow Margin25.4%

Margins

Gross margin
69.2%
Operating margin
21.8%
Net margin
15.2%

Quarterly Trend

QuarterRevenueYoY growthOperating marginOperating income
Q3 2026 $502M +10.5% 31.3% $157M
Q2 2026 $416M +10.4% 16.9% $70M
Q1 2026 $408M +12.5% 18.2% $74M
Q4 2025 $401M +12.2% 16.5% $66M
Q3 2025 $455M 27.9% $127M
Q2 2025 $377M 12.4% $47M
Q1 2025 $363M 17.7% $64M
Q4 2024 $357M 17.6% $63M

More on Paylocity Holding Corporation

Figures compiled from public company filings.

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