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Paylocity Holding Corporation

PCTY Technology Software Application

Paylocity Holding Corporation’s revenue for fiscal 2026 (year ended June 2026) was $1.8 billion, up 11.0% from fiscal 2025.

Revenue
+11.0%
EPS
+28.4%
Free cash flow
+10.5%
Total debt
−50.0%

Quarter to June 2026, against a year earlier

170.35 0.61 −0.36%
Market cap
$8.9B
P/E
34.1×
Fwd P/E
28.6×
Dividend yield
—
F-score
8/9
Altman Z
1.96
Beneish M
−2.60
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2017

  • Recurring fees
  • Implementation services and other
  • Other, not broken out

Every year since 2017 →

Insider Decisions last twelve months

Sold, $m 45.55
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 6 1 — 2 2 — 18 2 11 —
Insider Ownership 23.56%

Capital & Financial Ratios $m

Size
Market Cap 8,850.00
Revenue ttm 1,771.33
Net income ttm 269.74
Free cash flow ttm 427.80
Net debt Q (190.67)
Valuation
P/E 34.07
Forward P/E 28.60
Price / sales 5.20
Forward P/S Powerpack
Price / FCF 21.54
Price / book 7.54 (above 6: high)
Financial health
Current ratio Q 1.09
Debt / equity Q 0.07 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q +10.98% (above 0%: growing)
Operating income growth Q +27.47% (above 0%: growing)
EPS, this year +7.58%
EPS, next year A +9.49%
Revenue, next year A +6.76%
EPS, past 5 yrs +31.32% (at or above 15%: strong)
EPS, next 5 yrs A +10.52%

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 5.1×, against a ten-year median of 8.4×; over the ten years it ranged from 3.1× in 2026 to 24.5× in 2021.
P/E against its own 10 years 8.24%
10-year low 10-year high
P/S against its own 10 years 9.83%
10-year low 10-year high
P/B against its own 10 years 10.45%
10-year low 10-year high
EV/Sales against its own 10 years 9.75%
10-year low 10-year high
EV/FCF against its own 10 years 7.76%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 289 402 398 272
Receivables 25 33 42 50
Inventory — — — —
Other 2,621 2,952 2,704 3,211
3,048 3,524 3,312 3,723
2023 2024 2025 2026
Payables 6 9 17 11
ST’ Debt — — — —
Other 2,625 2,950 2,695 3,209
2,775 3,117 2,905 3,420

Compound Annual Growth %

10y 5y 3y
Sales 22.61% 22.75% 14.68%
Cash Flow 32.08% 33.69% 23.55%
Earnings 0.00% 30.89% 24.19%
Book Value 26.16% 20.69% 13.16%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 1.54 Actual 1.84

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 1.50 1.75 Beat by 0.25
Q2 FY26 1.57 1.85 Beat by 0.28
Q3 FY26 2.43 2.89 Beat by 0.46
Q4 FY26 1.54 1.84 Beat by 0.30
Q1 FY27 1.93 — Reports 5 November 2026

EPS $

Sep Dec Mar Jun Year
’26 — — — — —
’26 0.86 0.92 2.05 1.12 4.92
’25 0.88 0.66 1.61 0.86 4.02
’24 0.61 0.67 1.50 0.86 3.63
’23 0.54 0.28 1.02 0.66 2.49
’22 0.55 0.17 0.62 0.27 1.61
’21 0.22 0.17 0.65 0.21 1.26
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 408 416 502 445 1,771
’25 363 377 455 401 1,595
’24 318 326 401 357 1,403
’23 253 273 340 308 1,175
’22 182 196 246 229 853
’21 136 146 186 167 636
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 86 117 218 112 533
’25 91 54 186 87 418
’24 62 75 168 80 385
’23 16 62 127 77 283
’22 (4) 31 79 50 155
’21 (2) 21 66 39 125
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 67 98 192 71 428
’25 74 37 168 64 343
’24 44 57 147 57 306
’23 3 49 114 49 216
’22 (17) 15 65 39 102
’21 (11) 10 57 31 87
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 11.7% a year for ten years.

Implied
11.7%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 300 378 468 561 636 853 1,175 1,403 1,595 1,771 +21.8% 1,891 2,038 2,193 +7.4%
Gross margin, % 58.67 60.48 67.10 67.58 65.50 66.34 68.75 68.50 68.77 69.19 +10.5 pt
EBT 7 17 58 67 57 84 159 277 309 387 +55.3%
EBT margin, % 2.46 4.44 12.41 11.96 8.98 9.80 13.50 19.75 19.37 21.87 +19.4 pt
Net income 7 39 54 64 71 91 141 207 227 270 +50.7%
Per share, $
Per share, $ Revenue 5.84 7.20 8.84 10.48 11.70 15.49 21.09 24.95 28.67 32.75 +21.1%
Earnings 0.13 0.74 1.02 1.20 1.30 1.65 2.53 3.68 4.08 4.99 +50.0%
Cash flow 1.21 1.87 2.17 2.10 2.30 2.82 5.08 6.84 7.52 9.86 +26.3%
Capex (0.68) (0.71) (0.59) (0.79) (0.70) (0.96) (1.20) (1.40) (1.36) (1.95) +12.4%
Free cash flow 0.53 1.16 1.58 1.31 1.60 1.86 3.87 5.44 6.16 7.91 +35.2%
Book value 2.87 4.06 5.82 7.34 8.78 11.15 15.13 18.38 22.17 22.58 +25.8%
Shares, m 51 52 53 54 54 55 56 56 56 54 +0.6%
Valuation, ×
Valuation, × P/E 322.71 82.73 95.12 121.58 145.65 106.35 72.94 35.87 44.41 20.91 104.8
P/S 7.74 8.39 10.98 13.92 16.31 11.26 8.75 5.29 6.32 3.19 9.2
P/B 15.74 14.88 16.67 19.88 21.73 15.65 12.20 7.18 8.17 4.63 13.7
EV/Sales 7.40 8.02 10.63 13.59 16.09 11.18 8.56 5.05 6.17 3.08 9.0
EV/FCF 82.20 50.01 59.47 108.39 117.80 92.99 46.58 23.14 28.73 12.77 62.2
Cash, $m
Cash, $m Operating cash flow 62 98 115 113 125 155 283 385 418 533 +27.0%
Capex (35) (37) (31) (42) (38) (53) (67) (79) (75) (105) +13.0%
Free cash flow 27 61 84 70 87 102 216 306 343 428 +35.9%
Balance, $m
Balance, $m Working capital 88 107 140 254 166 111 274 407 407 303 +14.7%
Net debt (103) (138) (162) (185) (140) (71) (227) (402) (236) (191) +7.0%
Shareholders’ equity 148 213 308 393 477 613 843 1,033 1,234 1,221 +26.5%
Returns, %
Returns, % ROA 0.53 2.92 3.27 3.43 3.19 2.51 3.31 5.21 5.26 5.82 +5.3 pt
ROIC 10.33 13.31 24.04 19.93 10.76 9.74 15.73 25.75 19.04 23.40 +13.1 pt
ROE 5.03 21.42 20.77 18.55 16.14 16.65 19.34 22.04 20.04 21.97 +16.9 pt
People
People Employees 2,115 2,600 3,050 3,600 4,150 5,300 6,100 6,400 6,700 6,900 +14.0%
Revenue/emp, $m 0.14 0.15 0.15 0.16 0.15 0.16 0.19 0.22 0.24 0.26 +6.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Jun 2026

Business profile

Updated

Paylocity sells cloud-based software that helps employers manage their people, finances and workplace technology. Its customers use the platform for tasks such as running payroll, tracking working time, recruiting employees and administering benefits. Employees can use a web browser or mobile app to view their information and complete tasks.

The platform is built around a single employee record. Information from that record can flow between functions: for example, payroll uses data from timekeeping and human resources to calculate wages and deductions. Finance tools cover expenses, accounts payable, corporate cards and procurement. IT tools help employers manage employee access to software and track hardware.

Where the money comes from and where it goes Fiscal 2017

Fiscal 2017: revenue by products and services, and margins
Recurring fees 285 94.94%
Implementation services and other 12 3.85%
Other, not broken out 4 1.21%
Gross margin 58.67%
Operating margin 2.43%
Pre-tax margin 2.46%

Revenue by segment since 2017

Paylocity Holding Corporation vs peers in Software Application (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
ESTC Elastic N.V. $8.9B 23.4× 376× +15.13% (above 0%: growing) n/m +26.14% (above 0%: growing) 74.50% (4.93%) Compare
PCTY Paylocity Holding Corporation $8.9B 34.1× 28.6× +10.98% (above 0%: growing) +28.41% (above 0%: growing) +10.54% (above 0%: growing) 67.54% 18.98%
YMM Full Truck Alliance Co. Ltd. Sponsored ADR $8.3B 15.2× 11.9× +10.22% (above 0%: growing) +11.76% (above 0%: growing) +10,172.78% (above 0%: growing) 72.62% 43.95% Compare
APPF AppFolio, Inc. $8.3B 48.8× 44.1× +18.58% (above 0%: growing) +38.30% (above 0%: growing) +14.46% (above 0%: growing) 64.29% 19.42% Compare
TTAN ServiceTitan Inc. $7.9B — (loss-making) — (loss-making) +20.91% (above 0%: growing) n/m +47.10% (above 0%: growing) 71.41% (9.41%) Compare
QNT Quantinuum Inc. $7.9B — — — n/m — (28.93%) (6,939.56%) Compare
YOU CLEAR Secure, Inc. $7.6B 28.9× 24.5× +27.77% (above 0%: growing) +156.72% (above 0%: growing) −94.18% (below 0%: shrinking) 68.55% 28.32% Compare
IDCC InterDigital, Inc. $7.4B 23.5× 35.8× +17.46% (above 0%: growing) +18.71% (above 0%: growing) −64.24% (below 0%: shrinking) 100.00% 51.37% Compare
DUOL Duolingo, Inc. $7.4B 50.7× 48.1× +13.73% (above 0%: growing) −90.88% (below 0%: shrinking) +15.63% (above 0%: growing) 72.86% 7.83% Compare
Median of peers $7.9B 26.2× 40.0× +17.46% +18.71% +15.63% 72.02% 13.63%

All 230 Software Application stocks →

From the latest earnings call

Updated

  • CEO Toby Williams said benefit brokers generated more than 25% of new business in fiscal 2026, while Paylocity launched retirement and AI offerings.
  • CFO Ryan Glenn said fiscal 2027 guidance assumes flat client workforce levels and includes the margin effect of a change in deferred contract cost amortization.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 87.41%
Held by the ten largest 43.24%
Holder Shares Stake Change
Vanguard 4.51m 8.46% +18.12k
BlackRock 4.12m 7.73% −271.16k
T. Rowe Price 3.90m 7.33% −778.80k
AQR Capital Management 2.34m 4.39% +1.21m
Citadel Advisors 1.50m 2.81% −226.74k
UBS 1.43m 2.69% +883.70k
Morgan Stanley 1.43m 2.68% +88.30k
State Street 1.40m 2.62% +56.77k
Geode Capital Management 1.28m 2.40% −12.89k
Two Sigma 1.14m 2.14% +5.82k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 22 October 2026

Ownership

Directors and executive officers, together 20.10%
Steven I. Sarowitz 16.00%
BlackRock, Inc. 8.40%
T. Rowe Price Investment Management, Inc. 5.90%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Paylocity Holding Corporation (PCTY) Latest News

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PCTY metrics, ten years each

stockrow.com/PCTY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com