undamentalytics Newsletter
Sign in

Paycom Software, Inc. (PAYC) stock

Add to watchlist

Add holding +

NYSE: PAYC NYSE Application Software Next results ~November 4, 2026

B+ Fundamentals grade

Paycom Software provides a cloud-based human capital management (HCM) system delivered as software-as-a-service, designed to handle the full employment lifecycle from recruitment to retirement. Built in-house on a single database, it brings payroll, talent acquisition, talent management, HR administration and time and labour tracking together as one system of record. Named tools include Beti, which lets employees run their own payroll; the IWant AI assistant; Direct Data Exchange analytics; the Vault Visa payroll card and its Everyday daily-pay service; and Manager on-the-Go.

Customers are businesses, with a stated target of organisations from 50 to more than 10,000 employees. The company has roughly 39,200 clients, or about 20,300 grouped by parent company, and historically earns most of its revenue from payroll applications. Pricing depends on employee headcount and the number of applications a client uses.

Paycom sells directly through its own sales force in US offices, with a presence in 41 of the 50 largest metropolitan areas. Founded in 1998, it floated in 2014; its Global HCM product reaches more than 190 countries, with native payroll in Canada, Mexico, the UK and Ireland.

Based on Paycom Software, Inc.'s 10-K filed February 19, 2026.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$200

Cash-flow model

Base case. Range ~$150–$270 across our lower- and higher-growth cases (5.2%–15.2% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 31% above our base value.

Price used: $266.04, November 2, 2026

Paycom Software, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Paycom Software files

Where Paycom Software stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.14bn, up 9.2% on a year earlier, about the same pace as a quarter earlier. That puts it 22 of 27 for growth among the application software companies we cover. Free-cash-flow margin rose to 26.9% from 18.3% a year earlier. Operating margin widened to 30.3% from 28.1%. The diluted share count is down 7.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $201 a share, against a share price of $261. At that price, our model says the market is pricing in about 14.7% a year of cash-flow growth for five years, close to the 15.2% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Paycom Software, Inc.'s trailing-twelve-month revenue grew 9.2% year on year, with a free-cash-flow margin of 26.9%. Where it stands out: change in share count of -7.1% ranks 4 of 163 application software companies we cover.

Our discounted-cash-flow model values the business at ~$200 per share in the base case (~$150–$270 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 60.1% while net income grew 17.3%: a 43pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 30.3% of revenue is left as operating profit, against a median of 1.1% for application software companies we cover.
  • Strong cash generation. 26.9% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Shrinking share count. Diluted shares fell 7.1% in a year, so each share owns more of the business.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 13.7% over 90 days.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $266.04 is 23% above our value per share of $200.
  • Volatile shares. Over the past year the shares showed annualised volatility of 48% and a beta of 0.0 against the S&P 500.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$2.78 against an average estimate of $2.38: beat by 16.8%
Revenue
$531m, up 9.8% on a year earlier
Share reaction
+23.2% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
total revenue $2.2bn to $2.21bn (the year ending December 31, 2026); total revenue year-over-year growth growth 7% to 8% (the year ending December 31, 2026)
Next report
November 4, 2026; average EPS estimate $2.80

Paycom Software's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.7%
  • 1 week-0.8%
  • 1 month+20.4%
  • This year+68.1%
  • 1 year+43.5%
  • 5 years-46.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.1B
Operating margin
30.3%
Net margin
22.8%
EPS (TTM, diluted)
$9.34

Growth

Revenue growth
+9.2%
Change in growth rate
−0.1 pts
Share count change
−7.1%

Cash

Free cash flow (TTM)
$575M
FCF margin
26.9%
Stock pay % of revenue
4.2%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Dividend
  2. Announcement
  3. Announcement
  4. Results
  5. Guidance
  6. Announcement
  7. Announcement
  8. Announcement
  9. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Paycom Software, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 13.8% a year of cash-flow growth for five years.That is close to the 15.2% a year revenue growth Paycom Software has delivered.

  • Priced in13.8%
  • Last 12 months9.2%
  • 3 years a year11.2%
  • 5 years a year15.2%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($263.11, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$200
Price used
$263.11close November 3, 2026
Implied change
▼ 23%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Paycom Software, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($382M, FY2026 Q2 TTM), growing 7.8% and 9.2% in the next two years (forecasts, guidance and its record), then back to 10.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$150–~$270 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Paycom Software, Inc.'s free cash flow after stock-based pay ( $382M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Paycom Software, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$200 ~$150–$270 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$190 ~$160–$320 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$91 ~$66–$130 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$53 ~$46–$63 Left out: out of range vs price (0.20x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$170 ~$91–$200 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Paycom Software, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +48%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $109$153$212$290$391$522
8.5% $79$112$154$210$282$375
10% $62$87$119$162$217$288

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$36.62$44.27$78.18$119.17$257.67$440.14$404.07$302.00$202.15$202.08$158.24$266.04
Market value$2.1bn$2.6bn$4.6bn$7.0bn$15.0bn$25.7bn$23.5bn$17.6bn$11.7bn$11.4bn$8.9bn$13.9bn
+ Net debt (− = net cash)−$25m−$30m−$11m−$11m−$101m−$121m−$249m−$372m−$265m−$402m−$370m$702m
Enterprise value$2.1bn$2.6bn$4.6bn$7.0bn$14.9bn$25.5bn$23.3bn$17.2bn$11.5bn$11.0bn$8.5bn$14.6bn
Multiples
Price / sales 9.4x7.9x10.6x12.3x20.4x30.5x22.3x12.8x6.9x6.0x4.3x6.5x
Price / earnings 101.3x37.1x37.2x50.9x83.3x178.8x120.0x62.4x34.4x22.7x19.6x28.5x
Price / free cash flow 80.3x47.5x65.0x55.9x114.6x192.7x118.4x75.6x40.1x33.4x21.8x24.1x
EV / EBITDA 47.8x22.4x30.8x34.3x55.7x106.6x72.5x36.5x20.3x14.1x11.4x18.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

66 /100

Moderate moat

How hard Paycom Software's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 14 / 20

    Net income has been a median 8.9% of total assets over 10 years.

  • Durability 19 / 20

    Operating margin has been a median 28.4%; its worst year was 18.8%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 18.1% of revenue.

  • Discipline 13 / 20

    The diluted share count fell 10.4% over five years; stock-based pay has been a median 7.6% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (80 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $535m and EPS of $2.80 (range $2.42 to $3.09) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.10 +31% $2.2bn +8%
Next $13.95 +15% $2.4bn +8%

Next year's EPS estimate has moved +13.7% in 90 days, across 21 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +10.8% on 90 days ago. In the last 30 days, 1 analyst raised Paycom Software, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Paycom Software, Inc., last 90 days
$10.00 $11.00 $12.00 $13.00 $14.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $10.91 Current fiscal year, 60 days ago: $12.09 Current fiscal year, 30 days ago: $12.09 Current fiscal year, 7 days ago: $12.10 Current fiscal year, Now: $12.10 $12.10 Next fiscal year, 90 days ago: $12.28 Next fiscal year, 60 days ago: $13.95 Next fiscal year, 30 days ago: $13.94 Next fiscal year, 7 days ago: $13.97 Next fiscal year, Now: $13.95 $13.95

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $10.91$12.28
60 days ago $12.09$13.95
30 days ago $12.09$13.94
7 days ago $12.10$13.97
Now $12.10$13.95

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.38 $2.78 +16.8%
Mar 2026 $2.99 $3.15 +5.4%
Dec 2025 $2.45 $2.45 +0.1%
Sept 2025 $1.97 $1.94 −1.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Total revenue the year ending December 31, 2026 $2.197bn to $2.212bn Raised
    “Total revenue in the range of $2.197 billion to $2.212 billion, representing year-over-year growth between 7% and 8%.” source
  • Total revenue year-over-year growth the year ending December 31, 2026 7% growth to 8% growth Raised
    “Total revenue in the range of $2.197 billion to $2.212 billion, representing year-over-year growth between 7% and 8%.” source
  • Recurring and other revenue growth the year ending December 31, 2026 8% growth to 9% growth Raised
    “Recurring and other revenue growth between 8% and 9% year over year.” source
  • Interest on funds held for clients the year ending December 31, 2026 about $105m Raised
    “Interest on funds held for clients of approximately $105 million.” source
  • Adjusted EBITDA the year ending December 31, 2026 $1.007bn to $1.022bn Non-GAAP Raised
    “Adjusted EBITDA in the range of $1.007 billion to $1.022 billion, representing a margin of approximately 46% at the midpoint.” source
  • Adjusted EBITDA margin the year ending December 31, 2026 about 46% Non-GAAP Raised
    “Adjusted EBITDA in the range of $1.007 billion to $1.022 billion, representing a margin of approximately 46% at the midpoint.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Paycom Software, Inc.'s revenue by +7.8% next year and +9.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.1%, weight 57%) , management guidance (+6.9%, weight 19%) and the company's own record (+10.2%, weight 25%) . How the weights are set.

Analyst recommendations

21 analysts, Nov 2026
Buy629%
Hold1362%
Sell210%

Monthly trend

  1. Nov 202661321
  2. Oct 2026613221
  3. Sep 202661320

Counts of recommendations published by analysts covering Paycom Software, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.4%
of tradable shares
Days to cover
3.65
at average volume
Short interest, 1 month
−7%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
14.1%
of shares
Employees
5,770
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +43.5%

$185.34 on October 31, 2025 to $266.04

ThenNowEffect
Revenue (last 12 months) $2.0bn $2.1bn +9.2%
Net margin 21.2% 22.8% +7.4%
P/E multiple 25.0x 28.5x +13.8%
Share count 56m 52m +7.6%

Biggest factor: p/e multiple.

Last 3 years +71.4%

$155.18 on November 3, 2023 to $266.04

ThenNowEffect
Revenue (last 12 months) $1.6bn $2.1bn +37.4%
Net margin 20.3% 22.8% +12.3%
P/E multiple 28.5x 28.5x −0.2%
Share count 58m 52m +11.3%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PAYC−8%−25%−33%0%−22%+68%
Industry peers (median)−7%−50%+19%+2%−20%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PAYC50%50%42%42%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PAYC−33%−37%−59%−32%−40%−29%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 79% from November 2, 2021 to April 10, 2026. Getting back needed a 376% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$113.10 – $274.59
From 52-week high
−3.1%
vs 50-day average
+12.4%
vs 200-day average
+62.2%
Volatility (1 year)
48%
Beta vs S&P 500
0.03

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±11.3%
After a week
5 up, 7 down
typical move ±11.8%
After a month
7 up, 5 down
typical move ±13.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +23.2% −0.4% +20.5% +37.4%
May 6, 2026 +5.1% +1.1% +2.4% +4.8%
February 11, 2026 −4.1% −1.6% −3.4% +0.9%
November 5, 2025 −9.8% −0.7% −7.8% −8.7%
August 6, 2025 +4.5% +0.7% −0.8% +0.5%
May 7, 2025 +9.5% +1.1% +12.9% +16.8%
February 12, 2025 +4.2% +0.7% +5.4% +2.5%
October 30, 2024 +24.8% −2.3% +37.9% +38.7%
July 31, 2024 +1.2% +0.2% −7.7% −0.9%
May 1, 2024 −11.3% +0.6% −8.4% −22.5%
February 7, 2024 −1.0% +0.9% −4.3% −8.1%
October 31, 2023 −37.2% +1.7% −30.1% −24.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Paycom Software, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.63× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied volatility.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

PAYC Paycom Software, Inc. Grade B+ $267.63

Own 100 shares, sell the $310 call expiring December 18, 2026 (46 days) for $5.80 a share — $580 per contract.

Previous session · Bid $5.80, ask $7.60, quoted Mon 2 Nov, 17:32 New York time with PAYC at $267.63. Option prices move with the shares: check the live chain at your broker before trading.

  • If PAYC ends below $310: you keep your shares and the $580 — 2.2% extra on the position, 17.2% a year at that pace.
  • If it ends above $310: your shares are sold at $310, a total return of 18.0% including the premium — at or above our value of ~$200.
$4.8k $0 −$5.2k Break-even $261.83 Price $267.63 ← Our value ~$200
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$580
Annualised
17.2%
Break-even
$261.83
Max gain
$4,816.75
Chance of selling
~26%

Results are expected around November 4, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $240 put and sell the $310 call, both expiring December 18, 2026 (46 days).

  • Net cost of $3.00 a share ($300 per contract of 100 shares).
  • Worst case at expiry: -11.4%, if the shares fall below $240 (-10.3% from today).
  • Best case at expiry: +14.7%, if the shares rise above $310 (+15.8%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $200: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Paycom Software, Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Paycom Software, Inc.
$1.6B $1.8B $2B $2.2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.6B Revenue (TTM), FY23 Q4: $1.7B Revenue (TTM), FY24 Q1: $1.7B Revenue (TTM), FY24 Q2: $1.8B Revenue (TTM), FY24 Q3: $1.8B Revenue (TTM), FY24 Q4: $1.9B Revenue (TTM), FY25 Q1: $1.9B Revenue (TTM), FY25 Q2: $2B Revenue (TTM), FY25 Q3: $2B Revenue (TTM), FY25 Q4: $2.1B Revenue (TTM), FY26 Q1: $2.1B Revenue (TTM), FY26 Q2: $2.1B $2.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.6B
FY23 Q4 $1.7B
FY24 Q1 $1.7B
FY24 Q2 $1.8B
FY24 Q3 $1.8B
FY24 Q4 $1.9B
FY25 Q1 $1.9B
FY25 Q2 $2B
FY25 Q3 $2B
FY25 Q4 $2.1B
FY26 Q1 $2.1B
FY26 Q2 $2.1B
Revenue growth, TTM YoY Paycom Software, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 26.4% Revenue growth, TTM YoY, FY23 Q4: 23.2% Revenue growth, TTM YoY, FY24 Q1: 18.2% Revenue growth, TTM YoY, FY24 Q2: 14.2% Revenue growth, TTM YoY, FY24 Q3: 11.9% Revenue growth, TTM YoY, FY24 Q4: 11.2% Revenue growth, TTM YoY, FY25 Q1: 9.9% Revenue growth, TTM YoY, FY25 Q2: 10.2% Revenue growth, TTM YoY, FY25 Q3: 9.7% Revenue growth, TTM YoY, FY25 Q4: 8.9% Revenue growth, TTM YoY, FY26 Q1: 9.4% Revenue growth, TTM YoY, FY26 Q2: 9.2% 9.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 26.4%
FY23 Q4 23.2%
FY24 Q1 18.2%
FY24 Q2 14.2%
FY24 Q3 11.9%
FY24 Q4 11.2%
FY25 Q1 9.9%
FY25 Q2 10.2%
FY25 Q3 9.7%
FY25 Q4 8.9%
FY26 Q1 9.4%
FY26 Q2 9.2%
Operating margin (TTM) Paycom Software, Inc.
26% 28% 30% 32% 34% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 27.6% Operating margin (TTM), FY23 Q4: 26.6% Operating margin (TTM), FY24 Q1: 33.1% Operating margin (TTM), FY24 Q2: 32.9% Operating margin (TTM), FY24 Q3: 32.5% Operating margin (TTM), FY24 Q4: 33.7% Operating margin (TTM), FY25 Q1: 27.9% Operating margin (TTM), FY25 Q2: 28.1% Operating margin (TTM), FY25 Q3: 27.9% Operating margin (TTM), FY25 Q4: 27.6% Operating margin (TTM), FY26 Q1: 28.3% Operating margin (TTM), FY26 Q2: 30.3% 30.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 27.6%
FY23 Q4 26.6%
FY24 Q1 33.1%
FY24 Q2 32.9%
FY24 Q3 32.5%
FY24 Q4 33.7%
FY25 Q1 27.9%
FY25 Q2 28.1%
FY25 Q3 27.9%
FY25 Q4 27.6%
FY26 Q1 28.3%
FY26 Q2 30.3%
FCF margin (TTM) Paycom Software, Inc.
15% 20% 25% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 18.6% FCF margin (TTM), FY23 Q4: 17.3% FCF margin (TTM), FY24 Q1: 16.5% FCF margin (TTM), FY24 Q2: 17.5% FCF margin (TTM), FY24 Q3: 17.0% FCF margin (TTM), FY24 Q4: 18.1% FCF margin (TTM), FY25 Q1: 20.1% FCF margin (TTM), FY25 Q2: 18.3% FCF margin (TTM), FY25 Q3: 19.7% FCF margin (TTM), FY25 Q4: 19.9% FCF margin (TTM), FY26 Q1: 21.3% FCF margin (TTM), FY26 Q2: 26.9% 26.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 18.6%
FY23 Q4 17.3%
FY24 Q1 16.5%
FY24 Q2 17.5%
FY24 Q3 17.0%
FY24 Q4 18.1%
FY25 Q1 20.1%
FY25 Q2 18.3%
FY25 Q3 19.7%
FY25 Q4 19.9%
FY26 Q1 21.3%
FY26 Q2 26.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 77 108 151 225 329 433 566 738 841 1,056 1,375 1,694 1,883 2,052 2,141
Gross profit 60 87 124 189 275 361 476 628 718 894 1,163 1,417 1,549 1,706 1,791
EBITDA — 15 23 44 115 149 203 268 239 321 471 565 780 744 798
Operating income — 9 16 34 102 130 174 226 186 254 379 451 634 567 648
Net income −0 1 6 21 70 123 137 181 143 196 281 341 502 453 488
Diluted EPS −$0.01 $0.01 $0.11 $0.36 $1.19 $2.10 $2.34 $3.09 $2.46 $3.37 $4.84 $5.88 $8.92 $8.08 $9.34
Growth (year on year)
Revenue — +40.1% +40.3% +48.8% +46.5% +31.6% +30.8% +30.3% +14.1% +25.4% +30.3% +23.2% +11.2% +8.9% +9.2%
EBITDA — — +52.8% +91.8% +163.1% +29.2% +36.4% +32.0% −10.8% +33.9% +47.0% +19.9% +38.0% −4.7% +18.5%
Operating income — — +65.8% +119.3% +195.5% +27.5% +33.9% +30.2% −17.7% +36.2% +49.3% +19.2% +40.5% −10.6% +17.7%
Net income — — — +269.9% +236.2% +75.4% +11.0% +31.7% −20.6% +36.6% +43.6% +21.1% +47.3% −9.7% +17.3%
Diluted EPS — — — +227.3% +230.6% +76.5% +11.4% +32.1% −20.4% +37.0% +43.6% +21.5% +51.7% −9.4% +26.2%
Margins
Gross margin 78.7% 80.6% 81.9% 84.2% 83.6% 83.4% 84.0% 85.1% 85.3% 84.7% 84.5% 83.7% 82.2% 83.2% 83.7%
EBITDA margin — 13.9% 15.1% 19.5% 35.1% 34.4% 35.9% 36.4% 28.5% 30.4% 34.3% 33.4% 41.4% 36.2% 37.3%
Operating margin — 8.8% 10.4% 15.3% 30.9% 30.0% 30.7% 30.7% 22.1% 24.0% 27.5% 26.6% 33.7% 27.6% 30.3%
Net margin −0.5% 0.6% 3.8% 9.3% 21.4% 28.5% 24.2% 24.5% 17.0% 18.6% 20.5% 20.1% 26.7% 22.1% 22.8%
Free-cash-flow margin 6.5% −0.2% 5.3% 11.8% 16.7% 16.3% 22.1% 17.8% 15.8% 18.8% 16.9% 17.3% 18.1% 19.9% 26.9%
Cash flow
Cash from operations 11 17 22 43 99 130 185 224 227 319 365 485 534 679 802
Capital spending 6 17 14 17 44 59 60 93 94 121 133 193 193 271 226
Free cash flow 5 −0 8 26 55 71 125 131 133 199 232 292 341 408 575
Stock-based pay 1 1 1 3 21 36 37 47 90 98 95 130 −23 119 90
Free cash flow after stock pay 5 −1 7 23 34 35 88 84 43 101 138 163 364 289 485
Balance sheet
Cash 13 13 25 51 60 46 46 134 152 278 401 294 402 370 198
Total debt 0 82 27 26 30 36 35 33 31 29 29 29 0 0 900
Net debt (negative = net cash) −13 69 2 −25 −30 −11 −11 −101 −121 −249 −372 −265 −402 −370 702
Diluted shares 45m 48m 52m 58m 59m 59m 59m 58m 58m 58m 58m 58m 56m 56m 52m
Returned to shareholders
Dividends 0 5 — — — — — — — — — 65 85 85 77
Buybacks — — — — 36 57 105 — 52 — 95 287 123 326 —
Total returned 0 5 — — 36 57 105 — 52 — 95 351 208 410 77

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · June 30, 2026
What it owns · $5.2bn
Short-term assets $3.5bnLonger-term assets $1.7bn
What it owes, and who funded it · $5.2bn
Short-term liabilities $3.2bnLonger-term liabilities $1.4bnShareholders' equity $572m
  • Short-term assets cover short-term liabilities $3.5bn of assets due within a year against $3.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.5bn short-term assets against $1.4bn of longer-dated liabilities.
  • More cash than debt $198m of cash against $900m of debt.
  • Debt below 40% of shareholders' equity Debt is 157% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 3% to 157% over five years.
  • A year's operating cash flow covers at least 20% of debt $802m of operating cash flow against $900m of debt.
  • Operating profit covers interest at least five times over Operating income of $648m against $16m of interest.

From Paycom Software, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$77.4M
Buybacks, last 3 fiscal years
$735M
Diluted share count
−7.1%
year over year
Total shareholder yield
0.7%
dividends 0.7% + buybacks 0.0% of market value
Dividend payout ratio
16%
of net income paid out
R&D spending
12.1%
of revenue
Sales & admin spending
53.4%
of revenue
Days sales outstanding
9 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated PAYC DT U WIX FICO IOT Median
Revenue, last 12 months $2.1bn $2.1bn $2.0bn $2.0bn $2.4bn $1.8bn $482m
Revenue growth, last 12 months 9.2% 17.9% 14.0% 13.2% 24.1% 29.5% 12.0%
Revenue growth, 3-year average 11.2% 19.6% 3.9% 191.5% 17.6% 33.3% 11.1%
Revenue growth, latest quarter 9.8% 16.2% 23.9% — 25.7% 29.9% 11.9%
Gross margin 83.7% 81.4% 64.9% 68.1% 85.1% 76.4% 69.2%
Operating margin 30.3% 12.1% −30.4% 0.1% 51.7% 1.0% 1.1%
Operating margin, 3-year average 30.4% 10.8% −33.8% −12.4% 46.7% −11.8% −0.8%
Net margin 22.8% 7.2% −29.0% 2.5% 34.1% 4.9% 2.1%
Cash from operations / revenue 37.4% 28.6% 27.3% 29.2% 41.8% 15.6% 18.2%
Free-cash-flow margin 26.9% 27.2% 26.5% 27.9% 41.6% 13.8% 15.0%
Free-cash-flow margin, 3-year average 20.9% 28.0% 19.2% 16.2% 38.6% 8.5% 16.2%
Stock pay / revenue 4.2% 14.4% 16.9% 11.9% 7.3% 17.9% 9.3%
Change in share count −7.1% −1.1% 5.7% −3.7% −4.5% 3.1% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 9.2% 12.0% 106 of 184
Change in growth rate Growth -0.1pp +0.2pp 103 of 184
Gross margin Profitability 83.7% 69.8% 21 of 160
Operating margin Profitability 30.3% 1.1% 12 of 181
Net margin Profitability 22.8% 2.1% 20 of 185
Free-cash-flow margin Cash generation 26.9% 15.2% 41 of 180
Stock pay as % of revenue Cash generation 4.2% 9.3% 33 of 177
Long-term debt as % of assets Balance sheet 17.3% 16.9% 52 of 98
Change in share count Balance sheet -7.1% 1.7% 4 of 163
Days sales outstanding Balance sheet 9 days 57 days 7 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Recurring and Other $1.9B 94.5% ▲ 10.3%
Recurring $1.9B 98.7% ▲ 10.3%
Implementation and Other $26M 1.3% ▲ 6.6%
Interest On Funds Held For Clients $113M 5.5% ▼ 9.5%

From Paycom Software, Inc.'s 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5.2B
Institutions reporting
592
Shares held vs prior quarter
▼ 8.4%
Positions opened / closed
101 / 98

Top buyers and sellers, Q2 2026: 288 institutions bought and 319 sold ; the biggest buyer was American Century Companies Inc (+428K shares) and the biggest seller Blackrock, Inc (−1.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $632M 5.0M 12.2% ▼ 16.7%
Harris Associates L P $427M 3.4M 8.2% ▲ 4.3%
Vanguard Portfolio Management LLC $260M 2.1M 5.0% ▼ 13.4%
Vanguard Capital Management LLC $232M 1.8M 4.5% ▼ 12.4%
Two Sigma Investments, LP $176M 1.4M 3.4% ▼ 19.8%
State Street Corp $174M 1.4M 3.3% ▼ 19.9%
Reinhart Partners, Llc. $153M 1.2M 2.9% ▲ 20.1%
Geode Capital Management, LLC $152M 1.2M 2.9% ▼ 8.3%
Baillie Gifford & Co $123M 975K 2.4% ▼ 36.6%
First Trust Advisors LP $122M 974K 2.4% ▲ 10.5%
BNP Paribas Asset Management Holding S.A. $111M 879K 2.1% ▲ 8.5%
Loring Wolcott & Coolidge Fiduciary Advisors LLP $91.3M 726K 1.8% ▼ 5.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Paycom Software, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.6M 8 trades by 3 insiders · 0% under pre-set plans
Net ▼ $1.6M net selling
Insider Date Trade Shares Price Value
Hadlock Terrell Shane President/Chief Client Officer August 28, 2026 Sell 241 $240.07 $57,857
Hadlock Terrell Shane President/Chief Client Officer August 27, 2026 Sell 938 $238.66 $223,863
Hadlock Terrell Shane President/Chief Client Officer August 27, 2026 Sell 1,639 $237.00 $388,443
Peck Randall Chief Operating Officer May 18, 2026 Sell 2,500 $140.50 $351,250
Foster Robert D. Chief Financial Officer December 10, 2025 Sell 1,300 $162.66 $211,458
Peck Randall Chief Operating Officer December 5, 2025 Sell 744 $166.52 $123,891
Peck Randall Chief Operating Officer December 5, 2025 Sell 6 $166.50 $999
Peck Randall Chief Operating Officer December 5, 2025 Sell 1,442 $165.50 $238,651

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 12 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 1 sale of Paycom Software, Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded April 14, 2026, filed May 8, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 13, 2026, filed April 7, 2026
  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded September 25, 2025, filed October 7, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 11, 2026
  • November 5, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on Paycom Software, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Paycom Software, Inc. in brief

What does Paycom Software, Inc. do?
Paycom Software, Inc. is a US-listed company in the application software industry. Its financial year ends in December.
What is Paycom Software, Inc.'s stock ticker?
Paycom Software, Inc. trades under the ticker PAYC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Paycom Software, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Paycom Software, Inc. reported revenue of $2.1B, 9.2% higher than a year earlier, according to its SEC filings.
What is Paycom Software, Inc.'s free cash flow?
Paycom Software, Inc.'s free-cash-flow margin is 26.9% of revenue over the trailing twelve months, ranking 41 of the 180 application software companies we cover.
What is Paycom Software, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Paycom Software, Inc.'s free cash flow after stock-based pay gives ~$200 per share in the base case, and ~$150–$270 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Paycom Software, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Harris Associates L P and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Paycom Software, Inc.'s market cap?
On November 2, 2026, Paycom Software, Inc.'s market capitalisation was about $13.9B, with a price-to-earnings ratio of 28.5 and net debt of $702M. Market figures come from third-party market data and may be delayed.
Does Paycom Software, Inc. pay a dividend?
Yes: Paycom Software, Inc. paid $77.4M in dividends over the trailing twelve months, a dividend yield of 0.66% and a payout ratio of 15.9%.
How much debt does Paycom Software, Inc. have?
Paycom Software, Inc.'s debt-to-equity ratio is 157.5%, from its latest balance sheet (3.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Paycom Software, Inc.'s competitors?
In our Application Software peer group, the companies closest to Paycom Software, Inc. are Dynatrace, Inc., Unity Software Inc., Wix.com Ltd., Fair Isaac and Samsara Inc. The side-by-side comparison below sets their revenue, margins and growth against Paycom Software, Inc.'s.
Are insiders buying or selling Paycom Software, Inc. stock?
Over the last 12 months, Paycom Software, Inc.'s directors and officers reported 0 open-market purchases and 8 sales on Form 4. The insider trading page charts every trade.
When is Paycom Software, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Paycom Software, Inc. announces its own schedule.