Paycom Software (PAYC) financial statements
Paycom Software reported revenue of $2.1B in fiscal 2025, up 22.5% a year over 9 years.
Net income was $453M and the operating margin 27.6%, against 30.9% in 2016.
Free cash flow was $408M, and the company returned $85M in dividends and $326M in net buybacks.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Paycom Software's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $329M | $433M | $566M | $738M | $841M | $1.1B | $1.4B | $1.7B | $1.9B | $2.1B |
| Cost of revenue | $54M | $72M | $91M | $110M | $124M | $162M | $213M | $276M | $335M | $345M |
| Gross profit | $275M | $361M | $476M | $628M | $718M | $894M | $1.2B | $1.4B | $1.5B | $1.7B |
| Research and development | $21M | $30M | $46M | $73M | $90M | $118M | $148M | $199M | $243M | $283M |
| Selling, general and admin | $173M | $231M | $302M | $402M | $532M | $640M | $784M | $966M | $914M | $1.1B |
| Operating income | $102M | $130M | $174M | $226M | $186M | $254M | $379M | $451M | $634M | $567M |
| Interest expense | $1M | $911,000 | $766,000 | $940,000 | $19,000 | $1M | $2M | $2M | $3M | $3M |
| Pre-tax income | $101M | $128M | $175M | $226M | $186M | $256M | $390M | $472M | $649M | $619M |
| Income tax | $31M | $4M | $38M | $46M | $42M | $60M | $108M | $132M | $147M | $166M |
| Net income | $70M | $123M | $137M | $181M | $143M | $196M | $281M | $341M | $502M | $453M |
| EPS (diluted) | $1.19 | $2.10 | $2.34 | $3.09 | $2.46 | $3.37 | $4.84 | $5.88 | $8.92 | $8.08 |
| Diluted shares | 59M | 59M | 59M | 58M | 58M | 58M | 58M | 58M | 56M | 56M |
| Gross margin | 83.6% | 83.4% | 84.0% | 85.1% | 85.3% | 84.7% | 84.5% | 83.7% | 82.2% | 83.2% |
| Operating margin | 30.9% | 30.0% | 30.7% | 30.7% | 22.1% | 24.0% | 27.5% | 26.6% | 33.7% | 27.6% |
| Net margin | 21.4% | 28.5% | 24.2% | 24.5% | 17.0% | 18.6% | 20.5% | 20.1% | 26.7% | 22.1% |
Balance sheet
Fiscal years, from Paycom Software's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $60M | $46M | $46M | $134M | $152M | $278M | $401M | $294M | $402M | $370M |
| Receivables | $1M | $2M | $3M | $9M | $9M | $9M | $23M | $16M | $39M | $45M |
| Inventory | $675,000 | $979,000 | $797,000 | $1M | $1M | $1M | $2M | $1M | $1M | $2M |
| Total current assets | $926M | $1.2B | $1.1B | $1.9B | $1.9B | $2.3B | $2.8B | $2.8B | $4.3B | $5.8B |
| Property, plant and equipment | $97M | $148M | $177M | $238M | $285M | $349M | $402M | $498M | — | — |
| Goodwill | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M |
| Total assets | $1.1B | $1.6B | $1.5B | $2.5B | $2.6B | $3.2B | $3.9B | $4.2B | $5.9B | $7.6B |
| Total current liabilities | $899M | $1.1B | $1.0B | $1.8B | $1.7B | $2.0B | $2.4B | $2.5B | $3.9B | $5.4B |
| Long-term debt | $29M | $34M | $33M | $31M | $29M | $27M | $29M | — | — | — |
| Total liabilities | $962M | $1.3B | $1.2B | $2.0B | $2.0B | $2.3B | $2.7B | $2.9B | $4.3B | $5.9B |
| Shareholders' equity | $206M | $281M | $335M | $527M | $656M | $894M | $1.2B | $1.3B | $1.6B | $1.7B |
| Net debt | -$30M | -$11M | -$11M | -$101M | -$121M | -$249M | -$372M | -$294M | -$402M | -$370M |
Cash flow
Fiscal years, from Paycom Software's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $99M | $130M | $185M | $224M | $227M | $319M | $365M | $485M | $534M | $679M |
| Capital spending | $44M | $59M | $60M | $93M | $94M | $121M | $133M | $193M | $193M | $271M |
| Free cash flow | $55M | $71M | $125M | $131M | $133M | $199M | $232M | $292M | $341M | $408M |
| Stock-based compensation | $21M | $36M | $37M | $47M | $90M | $98M | $95M | $130M | -$23M | $119M |
| Dividends paid | — | — | — | — | — | — | — | $65M | $85M | $85M |
| Share buybacks (net) | -$36M | -$57M | -$105M | — | -$52M | — | -$95M | -$287M | -$123M | -$326M |
| Net borrowing | $4M | $6M | -$888,000 | -$2M | -$2M | -$2M | -$300,000 | -$29M | — | — |
| Free cash flow margin | 16.7% | 16.3% | 22.1% | 17.8% | 15.8% | 18.8% | 16.9% | 17.3% | 18.1% | 19.9% |
| Dividends per share | — | — | — | — | — | — | — | $1.12 | $1.51 | $1.51 |
Questions
What was Paycom Software's revenue in 2025?
$2.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does Paycom Software generate?
$408M in fiscal 2025 (operating cash flow minus capital spending).
From Paycom Software's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.