Paylocity Holding Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Paylocity Holding Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	300	378	468	561	636	853	1,175	1,403	1,595	1,771
Cost of revenue	124	149	154	182	219	287	367	442	498	546
Gross profit	176	228	314	379	416	566	808	961	1,097	1,226
Research and development	29.1	37.6	50.3	62.8	76.7	103	164	178	206	221
Selling and marketing	77.5	95.5	113	145	162	214	297	335	374	394
General and administrative	62.1	79.3	94.6	105	120	164	192	187	213	224
Operating expenses	169	212	258	313	358	481	653	701	793	840
Operating income	7.3	15.9	56.2	66.2	58	84.6	155	260	304	386
Other non-operating income	0.07	0.8	1.82	0.95	-0.94	-1	3.59	16.9	5.04	1.31
Pre-tax income	7.37	16.8	58	67.1	57.1	83.6	159	277	309	387
Income tax	0.65	-21.8	4.22	2.66	-13.7	-7.18	17.8	70.2	81.9	118
Net income	6.72	38.6	53.8	64.5	70.8	90.8	141	207	227	270
EBITDA	28.3	46.2	90.8	104	101	135	216	337	404	498
EPS, basic	0.13	0.74	1.02	1.20	1.30	1.65	2.53	3.68	4.08	4.99
EPS, diluted	0.12	0.70	0.97	1.15	1.26	1.61	2.49	3.63	4.02	4.92
Shares, basic (weighted)	51.4	52.4	52.9	53.5	54.3	55	55.7	56.2	55.6	54.1
Shares, diluted (weighted)	54.1	54.9	55.4	55.8	56.3	56.4	56.6	57	56.6	54.8

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	103	137	132	251	202	140	289	402	398	272
Short-term investments		0.73	29.3	34.6	4.46	0
Receivables	2.04	3.45	4.36	4.92	6.27	15.8	25.1	33	41.6	50.1
Other current assets	14.9	11.2	13.9	13.2	16	28.9	35.1	39.8	50.9	57.6
Total current assets	1,063	1,378	1,596	1,663	2,033	4,232	3,048	3,524	3,312	3,723
Property, plant and equipment	40.8	62	70.1	66.7	59.8	62.8	64.1	60.6	54.2	71.4
Lease right-of-use assets				48.7	44	49.2	44.1	33.8	36	33.1
Goodwill	6	9.59	9.59	21.7	33.7	102	102	109	343	379
Intangible assets	8.91	13	10.8	13.4	13	45.5	34.5	28.3	92.7	86.1
Total assets	1,137	1,508	1,804	1,986	2,415	4,809	3,696	4,245	4,389	4,884
Accounts payable	2.05	2.99	3.95	1.76	4.23	8.37	6.15	8.64	17.3	10.9
Accrued liabilities	30.3	42.2	57.6	79.9	103	124	143	158	193	200
Deferred revenue		0.65	5.57	8.78	9.44	13.5	24.5	25.9	35.7	42.6
Total current liabilities	975	1,271	1,456	1,409	1,867	4,121	2,775	3,117	2,905	3,420
Lease liabilities				73.3	67.2	69.1	62.5	46.8	46.8	42.2
Other non-current liabilities		1.12	1.72	1.75	1.96	3.68	3.73	6.4	8.58	12.9
Total liabilities	990	1,295	1,496	1,593	1,938	4,196	2,853	3,212	3,156	3,663
Total debt				100				0	163	81.3
Paid-in capital	193	220	208	228	242	290	381	360	328	52.3
Retained earnings	-45.3	-6.68	99.8	164	235	326	467	673	901	1,170
Other comprehensive income		-0.14	0.11	0.68	0.07	-2.3	-4.52	-0.94	5.59	-1.23
Shareholders' equity	148	213	308	393	477	613	843	1,033	1,234	1,221
Total equity	148	213	308	393	477	613	843	1,033	1,234	1,221
Total liabilities and equity	1,137	1,508	1,804	1,986	2,415	4,809	3,696	4,245	4,389	4,884
Shares outstanding	51.7	52.8	53.1	53.8	54.6	55.2	55.9	55.5	55.4	53.3

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	6.72	38.6	53.8	64.5	70.8	90.8	141	207	227	270
Depreciation and amortization	21	30.2	34.6	37.9	43	50.2	60.9	76.4	99.6	112
Stock-based compensation	26.7	30.4	38.8	47.5	63.1	96.2	147	146	143	139
Deferred income tax	0.15	-21.9	4.13	2.75	-13.6	-7.18	13.5	27.8	-3.21	82.9
Change in receivables	-0.47	-1.49	-1.19	-0.73	-1.65	-7.61	-9.41	-8.19	-3.56	-7.93
Cash from operations	62	97.9	115	113	125	155	283	385	418	533
Capital expenditures	-21.3	-21.7	-11.3	-16.6	-9.46	-18.1	-21.9	-18	-13.1	-36.2
Acquisitions		-6.66		-16.7	-15	-108	0	-12	-278	-49.2
Purchases of investments		-197	-251	-400	0	-434	-599	-304	-261	-271
Cash from investing	-37.8	-179	-43.3	-48.8	48.4	-480	-220	-102	-456	-155
Stock issued	0.03		0.09	0	0.15	0	0
Share buybacks			-35			0	0	-150	-150	-398
Cash from financing	-304	275	115	2.09	280	2,172	-1,435	142	-326	8.98
Net change in cash	-280	194	186	66	454	1,848	-1,372	424	-363	387
Free cash flow	40.6	76.2	104	96.1	115	137	261	367	405	497
Interest paid				0.44	0.87	0.31	0.4	0.49	12.8	5.57
Income taxes paid	0.03	-0.05	0.41	0.08	-0.14	0.01	1.36	47.6	86.1	33.2

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $143.35 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	69.2%	Gross profit / revenue.
Operating margin	21.8%	Operating income / revenue.
EBITDA margin	28.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	21.9%	Pre-tax income / revenue.
Net margin	15.2%	Net income / revenue.
FCF margin	28.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	30.1%	Cash from operations / revenue.
Effective tax rate	30.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	22.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.8%	Net income / average total assets.
Return on invested capital (ROIC)	26.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	12.5%	Research and development expense / revenue.
Stock-based pay / revenue	7.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.0%	Capital expenditures / revenue.
D&A / revenue	6.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	14.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	22.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	14.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	24.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	27.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	35.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	46.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	23.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	32.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	37.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	18.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	24.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	30.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	22.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	25.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	31.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	27.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	23.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	33.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	22.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	24.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	33.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-1.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	13.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	20.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	11.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	15.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.09x	Current assets / current liabilities.
Quick ratio	0.09x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.08x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.07x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	1.7%	Total debt / total assets.
Liabilities / assets	75.0%	Total liabilities / total assets.
Net debt	-$190.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.38x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$302.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	9.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$756.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.38x	Revenue / average total assets.
Fixed asset turnover	28.2x	Revenue / average property, plant and equipment.
Receivables turnover	38.6x	Revenue / average receivables.
Days sales outstanding	9 days	365 x average receivables / revenue.
Days payables	9 days	365 x average accounts payable / cost of revenue.
FCF conversion	184.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.92	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$4.99	Net income per basic share, as reported (split-adjusted).
Revenue per share	$32.34	Revenue / diluted weighted shares.
FCF per share	$9.08	Free cash flow / diluted weighted shares.
Operating cash flow per share	$9.74	Cash from operations / diluted weighted shares.
Book value per share	$22.93	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.20	Tangible book value / shares outstanding.
Cash per share	$5.10	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	80.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$7.61B	Share price x shares outstanding.
Enterprise value	$7.42B	Market cap + total debt - cash - short-term investments.
P/E	28.2x	Market cap / net income. Only when net income is positive.
P/S	4.29x	Market cap / revenue.
P/B	6.23x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	10.1x	Market cap / tangible book value, when positive.
P/FCF	15.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.3x	Market cap / cash from operations, when positive.
EV/Sales	4.19x	Enterprise value / revenue.
EV/EBIT	19.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	14.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.5%	Free cash flow / market cap.
Earnings yield	3.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.2%	(Dividends paid + share buybacks) / market cap.
PEG	1.11x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Paylocity Holding Corp's revenue in fiscal 2026?

Paylocity Holding Corp reported revenue of $1.77B for fiscal 2026, 11% higher than the year before.

Was Paylocity Holding Corp profitable in fiscal 2026?

Yes. Net income was $269.7M, a net margin of 15.2%.

How much free cash flow did Paylocity Holding Corp generate in fiscal 2026?

Cash from operations of $533.3M minus capital expenditures of $36.2M left free cash flow of $497.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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