Paylocity Holding Corporation (PCTY) vs Full Truck Alliance Co. Ltd. Sponsored ADR (YMM)

Paylocity Holding Corporation and Full Truck Alliance Co. Ltd. Sponsored ADR are both Software Application companies. Paylocity Holding Corporation and Full Truck Alliance Co. Ltd. Sponsored ADR are of similar size ($7.6B and $7.6B). Full Truck Alliance Co. Ltd. Sponsored ADR trades at the lower P/E: 13.8× against 28.6×. Full Truck Alliance Co. Ltd. Sponsored ADR grew revenue faster over the last twelve months: 12.2% against 11.0%. Full Truck Alliance Co. Ltd. Sponsored ADR has the higher net margin (33.2% vs 15.2%) and the lower return on invested capital (15.6% vs 23.4%). Across the 22 metrics below, Full Truck Alliance Co. Ltd. Sponsored ADR leads on 16 and Paylocity Holding Corporation on 6.

Valuation

Metric PCTY YMM Software Application median
P/E 28.62 13.78 24.79
P/S 4.37 4.50 2.67
P/B 6.34 1.40 3.01
Price to free cash flow 18.09 5.41 16.59
EV/EBITDA 16.84 7.94 14.40
EV/Sales 4.26 2.68 2.62
Earnings yield 3.49% 7.26% 0.00%
Free cash flow yield 5.53% 18.49% 1.91%

Profitability

Metric PCTY YMM Software Application median
Gross margin 69.19% 65.80% 67.03%
Operating margin 21.79% 33.79% 0.00%
Net margin 15.23% 33.18% 0.00%
Free cash flow margin 24.15% 0.00% 4.32%
Return on equity 21.97% 10.81% 0.00%
Return on assets 5.82% 9.81% 0.00%
Return on invested capital 23.40% 15.59% 0.00%

Growth

Metric PCTY YMM Software Application median
Revenue growth (TTM) 11.04% 12.21% 12.40%
EPS growth (last fiscal year) 22.39% 50.00% —
Revenue growth, 5-year CAGR 22.75% 35.19% 13.72%
Net income growth, 5-year CAGR 30.89% 0.00% 0.00%

Health

Metric PCTY YMM Software Application median
Debt to equity 0.07 0.00 0.02
Current ratio 1.09 7.96 1.55
Net debt to EBITDA (0.43) (4.05) 0.06

Dividend

Metric PCTY YMM Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 0.00 0.00

Size

Metric PCTY YMM Software Application median
Market cap 7.56b 7.61b 396.11m

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