Elastic N.V. (ESTC) vs Paylocity Holding Corporation (PCTY)

Elastic N.V. and Paylocity Holding Corporation are both Software Application companies. Elastic N.V. and Paylocity Holding Corporation are of similar size ($8.9B and $8.9B). Elastic N.V. trades at the lower P/E: 23.4× against 34.1×. Elastic N.V. grew revenue faster over the last twelve months: 16.2% against 11.0%. Elastic N.V. has the higher net margin (20.8% vs 15.2%) and the lower return on invested capital (−7.35% vs 23.4%). Across the 22 metrics below, Elastic N.V. leads on 14 and Paylocity Holding Corporation on 8.

Valuation

Metric ESTC PCTY Software Application median
P/E 23.42 34.07 25.90
P/S 4.91 5.20 3.04
P/B 6.82 7.54 2.60
Price to free cash flow 25.34 21.54 17.17
EV/EBITDA 97.59 20.12 15.48
EV/Sales 4.41 5.09 2.89
Earnings yield 4.27% 2.94% 0.00%
Free cash flow yield 3.95% 4.64% 1.98%

Profitability

Metric ESTC PCTY Software Application median
Gross margin 75.50% 69.19% 66.89%
Operating margin (2.64%) 21.79% 0.00%
Net margin 20.84% 15.23% 0.00%
Free cash flow margin 19.37% 24.15% 5.77%
Return on equity 33.12% 21.97% 0.00%
Return on assets 13.60% 5.82% 0.00%
Return on invested capital (7.35%) 23.40% 0.00%

Growth

Metric ESTC PCTY Software Application median
Revenue growth (TTM) 16.18% 11.04% 12.27%
EPS growth (last fiscal year) 429.81% 22.39% 32.11%
Revenue growth, 5-year CAGR 23.37% 22.75% 14.34%
Net income growth, 5-year CAGR 0.00% 30.89% 0.00%

Health

Metric ESTC PCTY Software Application median
Debt to equity 0.44 0.07 0.02
Current ratio 1.81 1.09 1.53
Net debt to EBITDA (9.19) (0.43) 0.09

Dividend

Metric ESTC PCTY Software Application median
Dividend yield — — 1.10%
Payout ratio — — 0.28

Size

Metric ESTC PCTY Software Application median
Market cap 8.92b 8.85b 487.58m

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