Elastic vs Paylocity Holding
Elastic and Paylocity Holding are similar in size: $1.74bn and $1.77bn of revenue in their latest fiscal years. Elastic grew faster (17.3% against 11.0%). Elastic kept more of each dollar of sales as profit: a net margin of 21.1% against 15.2%. Paylocity Holding carries less debt relative to equity (6.7% against 45.0%).
| Latest fiscal year | ElasticESTC, 2026 | Paylocity HoldingPCTY, 2026 |
|---|---|---|
| Revenue | $1.74bn | $1.77bn |
| Revenue growth | 17.3% | 11.0% |
| Net income | $368m | $270m |
| Operating margin | -1.9% | 21.8% |
| Net margin | 21.1% | 15.2% |
| Return on equity | 33.4% | 22.0% |
| Free cash flow | $322m | $497m |
| Cash | $769m | $272m |
| Total debt | $575m | $81.3m |
| Debt to equity | 45.0% | 6.7% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $340m | $398m |
| Employees | 4,019 | — |
| Market value | $9.59bn | $9.20bn |
| Price vs our value range | Above our value range | Within our value range |
| Moat score | 40 (Weak) | 46 (Moderate) |
| Insider trades, 12 months | 3 buys, 63 sales | 0 buys, 110 sales |