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Paymentus Holdings, Inc.

PAY Technology Software Infrastructure

Paymentus Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 37.3% from fiscal 2024.

Revenue
+19.8%
EPS
+55.7%
Free cash flow
+32.1%

Quarter to September 2026, against a year earlier

33.40 0.09 −0.27%
Market cap
$3.7B
P/E
44.7×
Fwd P/E
45.6×
Dividend yield
—
F-score
7/9
Altman Z
25.21
Beneish M
−3.16
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 7.14
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — 1 2 — — —
Insider Ownership 54.69%

Capital & Financial Ratios $m

Size
Market Cap 3,690.00
Revenue ttm 1,421.81
Net income ttm 94.59
Free cash flow ttm 129.65
Net debt Q (409.64)
Valuation
P/E 44.65 (above 35: high)
Forward P/E 45.60 (above 35: high)
Price / sales 2.96
Forward P/S Powerpack
Price / FCF 32.54
Price / book 6.54 (above 6: high)
Financial health
Current ratio Q 4.82 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q +19.77% (above 0%: growing)
Operating income growth Q +68.85% (above 0%: growing)
EPS, this year +39.39% (at or above 15%: strong)
EPS, next year A +18.01% (at or above 15%: strong)
Revenue, next year A −13.44% (below 0%: weak)
EPS, past 5 yrs +32.13% (at or above 15%: strong)
EPS, next 5 yrs A +25.67% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 3.2×; over the ten years it ranged from 1.6× in 2022 to 10.4× in 2021.
P/E against its own 10 years 6.98%
10-year low 10-year high
P/S against its own 10 years 27.10%
10-year low 10-year high
P/B against its own 10 years 59.97%
10-year low 10-year high
EV/Sales against its own 10 years 28.27%
10-year low 10-year high
EV/FCF against its own 10 years 15.69%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–22
−30.6%/yr
  1. 0.76 ’16
  2. 1.21 ’17 +58
  3. 0.83 ’18 −31
  4. 0.63 ’19 −24
  5. 0.44 ’20 −30
  6. 0.33 ’21 −26
  7. 0.09 ’22 −74
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 183 209 325 410
Receivables 77 123 104 112
Inventory — — — —
Other — — — —
270 346 441 534
2023 2024 2025 Q'26
Payables 35 50 64 74
ST’ Debt — — — —
Other 4 3 3 3
63 82 99 111

Compound Annual Growth %

10y 5y 3y
Sales — 31.72% 34.03%
Cash Flow — 35.40% 101.33%
Earnings — 51.01% 0.00%
Book Value — 46.03% 12.16%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.22 Actual 0.25

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.18 0.20 Beat by 0.02
Q1 FY26 0.17 0.21 Beat by 0.04
Q2 FY26 0.20 0.25 Beat by 0.05
Q3 FY26 0.22 0.25 Beat by 0.03
Q4 FY26 0.24 — Reports 22 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.16 0.20 0.21 — —
’25 0.11 0.11 0.14 0.16 0.52
’24 0.06 0.07 0.11 0.10 0.35
’23 0.01 0.05 0.05 0.07 0.18
’22 0.01 (0.02) (0.01) 0.01 0.00
’21 0.03 0.00 0.00 0.04 0.06
’20 0.02 0.04 0.02 0.03 0.13
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 358 361 372 — —
’25 275 280 311 330 1,197
’24 185 197 232 258 872
’23 148 149 152 165 614
’22 117 120 128 132 497
’21 92 93 102 108 396
’20 70 72 78 82 302
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 30 49 44 — —
’25 50 31 35 45 162
’24 11 18 7 28 64
’23 5 26 13 24 69
’22 3 4 (2) 15 20
’21 7 6 7 0 19
’20 — 16 12 7 36
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 21 39 34 — —
’25 41 22 26 36 125
’24 2 9 (2) 19 27
’23 (4) 18 4 16 35
’22 (4) (4) (10) 7 (11)
’21 3 1 2 (6) (1)
’20 — 8 8 4 21
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 236 302 396 497 614 872 1,197 1,422 +31.1% 1,036 1,221 1,441 +6.4%
Gross margin, % — — — 31.57 30.69 30.69 30.12 29.67 27.32 24.77 25.21 (6.8) pt
EBT — — — 18 18 10 (1) 25 54 85 128 +29.0%
EBT margin, % — — — 7.84 6.09 2.62 (0.26) 4.09 6.19 7.13 9.01 (0.7) pt
Net income — 0 — 14 14 9 (1) 22 44 67 95 n/m
Per share, $
Per share, $ Revenue — — — 2.28 2.92 3.51 4.07 4.98 7.01 9.55 11.28 +27.0%
Earnings — — — 0.13 0.08 0.06 0.00 0.18 0.36 0.53 0.75 +26.0%
Cash flow — — — 0.17 0.34 0.17 0.16 0.56 0.51 1.29 1.33 +40.4%
Capex — — — (0.12) (0.14) (0.18) (0.26) (0.28) (0.29) (0.30) (0.30) +16.1%
Free cash flow — — — 0.05 0.20 (0.01) (0.09) 0.28 0.22 1.00 1.03 +65.7%
Book value — — — 0.66 0.82 3.42 3.25 3.48 3.90 4.47 5.10 +37.5%
Shares, m — — — 103 103 113 122 124 124 125 126 +3.2%
Valuation, ×
Valuation, × P/E — — — 210.68 210.68 443.91 0.00 94.29 88.30 59.60 44.65 158.2
P/S — — — 9.13 9.13 9.97 2.01 3.52 4.66 3.31 2.96 6.0
P/B — — — 33.11 33.11 10.22 2.51 5.03 8.37 7.06 6.54 14.2
EV/Sales — — — 8.99 8.99 9.46 1.71 3.22 4.42 3.04 2.67 5.7
EV/FCF — — — 123.93 123.93 (4,762.73) (74.33) 57.80 143.92 29.12 29.37 (622.6)
Cash, $m
Cash, $m Operating cash flow — — — 18 36 19 20 69 64 162 168 +44.9%
Capex — — — (13) (15) (20) (31) (34) (37) (37) (38) +19.8%
Free cash flow — — — 5 21 (1) (11) 35 27 125 130 +71.1%
Balance, $m
Balance, $m Working capital — — — 42 49 182 177 208 264 342 423 +42.1%
Net debt — — — (27) (46) (201) (149) (183) (209) (325) (410) +51.0%
Shareholders’ equity — — — 69 84 386 397 430 486 560 643 +41.9%
Returns, %
Returns, % ROA — — — 22.37 8.30 2.36 (0.11) 4.62 8.17 10.76 13.43 (11.6) pt
ROIC — — — 27.88 30.21 3.50 (0.75) 4.59 10.15 20.02 31.24 (7.9) pt
ROE — — — 11.77 11.15 2.99 (0.13) 5.40 9.65 12.80 16.02 +1.0 pt
People
People Employees — — — — 916 1,116 1,260 1,273 1,307 1,340 — +7.9%
Revenue/emp, $m — — — 0.00 0.33 0.35 0.39 0.48 0.67 0.89 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Paymentus Holdings, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
APPN Appian Corporation $3.9B — (loss-making) 1,228× +25.47% (above 0%: growing) +54.55% (above 0%: growing) −210.79% (below 0%: shrinking) 0.00% 9.08% Compare
DLO DLocal Limited $3.8B 19.2× 15.9× +55.84% (above 0%: growing) +26.67% (above 0%: growing) +12.57% (above 0%: growing) 31.81% 16.05% Compare
PAY Paymentus Holdings, Inc. $3.7B 44.7× 45.6× +19.77% (above 0%: growing) +55.71% (above 0%: growing) +32.10% (above 0%: growing) 25.21% 9.01%
CORZ Core Scientific, Inc. $3.7B — (loss-making) — (loss-making) +108.83% (above 0%: growing) n/m −852.12% (below 0%: shrinking) 42.66% (47.79%) Compare
AVPT AvePoint, Inc. $3.5B 45.6× 57.7× +19.48% (above 0%: growing) +50.00% (above 0%: growing) −13.62% (below 0%: shrinking) 72.20% 8.73% Compare
FOUR Shift4 Payments, Inc. $3.4B 67.6× 28.3× +34.06% (above 0%: growing) −77.14% (below 0%: shrinking) −109.09% (below 0%: shrinking) 34.44% 7.34% Compare
WIX Wix.com Ltd. $3.2B — (loss-making) — (loss-making) +14.93% (above 0%: growing) n/m −64.35% (below 0%: shrinking) 65.77% (10.44%) Compare
BLSH Bullish $3.1B — (loss-making) — (loss-making) −44.34% (below 0%: shrinking) n/m +2.25% (above 0%: growing) 0.25% (0.87%) Compare
TDC Teradata Corporation $3.0B 6.7× 7.7× +0.49% (above 0%: growing) +444.44% (above 0%: growing) +169.23% (above 0%: growing) 59.27% 11.71% Compare
Median of peers $3.4B 32.4× 28.3× +22.48% +50.00% −38.98% 38.55% 8.04%

All 183 Software Infrastructure stocks →

Pay and ownership Proxy statement filed 22 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 35.63m 36.97m 394.00
2024 1.21m 1.41m 408.00
2023 1.12m 1.72m 223.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Paymentus Holdings, Inc. (PAY) Latest News

6 Nov

Impact 3 · · Simply Wall St.

5 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 3 · · GuruFocus.com

3 Nov

Impact 3 · · Moby
Impact 3 · · The Motley Fool

2 Nov

Impact 3 · · Associated Press
Impact 3 · · MarketBeat transcript
Impact 3 · · Business Wire

28 Oct

Impact 3 · · Insider Monkey

27 Oct

Impact 3 · · Zacks

26 Oct

Impact 3 · · StockStory
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23 Oct

Impact 3 · · Zacks

22 Oct

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19 Oct

Impact 3 · · Business Wire

17 Oct

Impact 3 · · Simply Wall St.

2 Oct

Impact 3 · · StockStory

30 Sep

Impact 3 ·

29 Sep

Impact 4 · · Business Wire

4 Sep

Impact 3 ·

13 Aug

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11 Aug

Impact 3 ·
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10 Aug

Impact 3 ·

4 Aug

Impact 4 · transcript
Impact 3 · · Moby transcript

3 Aug

Impact 3 · · MarketBeat
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PAY metrics, ten years each

stockrow.com/PAY · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com