Paycom Software, Inc. (PAYC) Key Metrics
PAYC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $11.34B
- Enterprise value
- $10.78B
- P/E (TTM)
- 26.6 10-yr median 62.7
- Forward P/E
- 16.7
- PEG ratio
- 1.17
- Price / sales
- 5.3 10-yr median 11.8
- Price / book
- 17.5 10-yr median 19.1
- EV / EBITDA
- 12.0 10-yr median 33.4
- Dividend yield
- 0.60% $1.50 a year
- Beta
- 0.83
PAYC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPAYC valuation Price multiples at each fiscal year-end price.
PAYC returns How much profit the business earns on the capital it uses.
PAYC per-share figures Results divided by the shares outstanding at year-end.
PAYC financial health Debt, liquidity and how easily interest is covered.
PAYC efficiency & capital use Working capital cycle and where the cash goes.
PAYC valuation history
PAYC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PAYC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PAYC cash returned to shareholders
PAYC price vs earnings per share
PAYC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $8.94B | $11.54B | $11.98B | $18.05B | $24.16B | $26.36B | $15.46B | $7.17B | $4.72B | $2.68B |
| Enterprise value | $8.72B | $11.22B | $11.77B | $17.70B | $23.91B | $26.24B | $15.36B | $7.16B | $4.71B | $2.65B |
| P/E ratio | 19.7 | 23.0 | 35.2 | 64.2 | 123.3 | 183.7 | 85.6 | 52.3 | 70.7 | 61.2 |
| Price / sales | 4.4 | 6.1 | 7.1 | 13.1 | 22.9 | 31.3 | 21.0 | 12.7 | 10.9 | 8.1 |
| Price / book | 5.2 | 7.3 | 9.2 | 15.3 | 27.0 | 40.2 | 29.4 | 21.4 | 16.8 | 23.0 |
| Price / free cash flow | 21.9 | 34.3 | 41.6 | 79.1 | 125.1 | 198.0 | 117.7 | 57.4 | 66.3 | 48.6 |
| Price / operating cash flow | 13.2 | 21.6 | 24.7 | 49.4 | 75.7 | 116.0 | 68.9 | 38.8 | 36.2 | 27.1 |
| EV / sales | 4.3 | 6.0 | 6.9 | 12.9 | 22.7 | 31.2 | 20.8 | 12.6 | 10.9 | 8.1 |
| EV / EBITDA | 10.9 | 14.1 | 20.0 | 36.5 | 74.0 | 109.6 | 57.0 | 34.9 | 31.8 | 22.9 |
| EV / free cash flow | 21.4 | 33.3 | 40.8 | 77.5 | 123.8 | 197.1 | 117.0 | 57.3 | 66.2 | 48.1 |
| Earnings yield | 5.1% | 4.4% | 2.8% | 1.6% | 0.8% | 0.5% | 1.2% | 1.9% | 1.4% | 1.6% |
| Free cash flow yield | 4.6% | 2.9% | 2.4% | 1.3% | 0.8% | 0.5% | 0.8% | 1.7% | 1.5% | 2.1% |
| Dividend yield | 0.9% | 0.7% | 0.5% | 0.0% | 0.0% | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 4.6% | 1.8% | 2.9% | 0.5% | 0.3% | 0.2% | 0.3% | 1.5% | 1.2% | 1.3% |
| Share price at fiscal year-end | $159.36 | $204.97 | $206.72 | $310.31 | $415.19 | $452.25 | $264.76 | $122.45 | $80.33 | $45.49 |
| Per share | ||||||||||
| Revenue per share | $36.57 | $33.45 | $29.21 | $23.64 | $18.14 | $14.44 | $12.63 | $9.67 | $7.37 | $5.58 |
| Earnings per share | $8.08 | $8.92 | $5.88 | $4.84 | $3.37 | $2.46 | $3.09 | $2.34 | $1.14 | $0.74 |
| Operating cash flow per share | $12.10 | $9.48 | $8.37 | $6.28 | $5.49 | $3.90 | $3.84 | $3.15 | $2.22 | $1.68 |
| Free cash flow per share | $7.27 | $5.98 | $4.97 | $3.92 | $3.32 | $2.28 | $2.25 | $2.13 | $1.21 | $0.94 |
| Cash per share | $6.60 | $7.14 | $5.07 | $6.89 | $4.78 | $2.60 | $2.29 | $0.78 | $0.78 | $1.02 |
| Book value per share | $30.86 | $27.99 | $22.48 | $20.33 | $15.36 | $11.25 | $9.02 | $5.71 | $4.78 | $1.98 |
| Tangible book value per share | $29.27 | $26.25 | $20.72 | $18.51 | $13.47 | $10.35 | $8.12 | $4.82 | $3.89 | $1.06 |
| Dividends per share | $1.51 | $1.51 | $1.12 | $0.00 | $0.00 | — | — | — | $0.00 | $0.00 |
| Capex per share | $4.83 | $3.50 | $3.40 | $2.35 | $2.17 | $1.61 | $1.59 | $1.02 | $1.01 | $0.74 |
| Debt per share | $2.71 | $1.48 | $1.31 | $0.76 | $0.50 | $0.53 | $0.56 | $0.59 | $0.60 | $0.51 |
| Shares outstanding | 56.1M | 56.3M | 58.0M | 58.2M | 58.2M | 58.3M | 58.4M | 58.6M | 58.8M | 59.0M |
| Change in shares outstanding | −0.4% | −2.9% | −0.3% | −0.0% | −0.2% | −0.2% | −0.3% | −0.4% | −0.3% | +1.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 27.4% | 34.9% | 27.4% | 27.1% | 25.3% | 24.3% | 41.9% | 44.5% | 33.6% | 40.8% |
| Return on invested capital (ROIC) | 30.0% | 41.9% | 34.1% | 37.2% | 32.9% | 29.9% | 48.2% | 45.9% | 67.1% | 110.6% |
| Return on assets (ROA) | 6.7% | 10.0% | 8.4% | 7.9% | 6.7% | 5.6% | 9.0% | 9.5% | 5.5% | 4.5% |
| Return on tangible assets | 6.0% | 8.7% | 8.3% | 7.4% | 6.3% | 5.6% | 7.4% | 9.3% | 5.1% | 4.3% |
| Free cash flow margin | 19.9% | 17.9% | 17.0% | 16.6% | 18.3% | 15.8% | 17.8% | 22.1% | 16.4% | 16.8% |
| Income quality (OCF / net income) | 1.50 | 1.06 | 1.42 | 1.30 | 1.63 | 1.58 | 1.24 | 1.35 | 1.95 | 2.26 |
| Financial health | ||||||||||
| Total debt | $152.2M | $83.4M | $75.9M | $44.0M | $29.2M | $30.9M | $32.6M | $34.4M | $35.3M | $29.8M |
| Cash & short-term investments | $370.0M | $402.0M | $294.0M | $400.7M | $278.0M | $151.7M | $133.7M | $45.7M | $46.1M | $60.2M |
| Net debt | −$217.8M | −$318.6M | −$218.1M | −$356.7M | −$248.8M | −$120.8M | −$101.0M | −$11.3M | −$10.8M | −$30.3M |
| Debt / equity | 0.09 | 0.05 | 0.06 | 0.04 | 0.03 | 0.05 | 0.06 | 0.10 | 0.13 | 0.26 |
| Debt / assets | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 |
| Net debt / EBITDA | −0.27 | −0.40 | −0.37 | −0.74 | −0.77 | −0.50 | −0.38 | −0.06 | −0.07 | −0.26 |
| Current ratio | 1.09 | 1.10 | 1.11 | 1.16 | 1.13 | 1.09 | 1.07 | 1.03 | 1.03 | 1.03 |
| Quick ratio | 1.09 | 1.10 | 1.11 | 1.16 | 1.13 | 1.08 | 1.07 | 1.03 | 1.03 | 1.03 |
| Interest coverage | 166.8 | 186.6 | 237.5 | 151.5 | 105.9 | — | 240.7 | 226.8 | 142.4 | 98.2 |
| Working capital | $470.4M | $398.0M | $278.8M | $387.1M | $261.6M | $146.6M | $117.6M | $35.9M | $36.1M | $26.7M |
| Invested capital | $1.51B | $1.26B | $1.08B | $825.9M | $644.9M | $534.8M | $425.6M | $323.4M | $270.5M | $86.2M |
| Tangible asset value | $1.64B | $1.48B | $1.20B | $1.08B | $783.8M | $603.4M | $474.2M | $282.1M | $82.6M | $62.8M |
| Net current asset value | −$28.4M | $20.8M | −$81.1M | $44.3M | −$69.4M | −$87.7M | −$89.2M | −$122.6M | −$43.5M | −$36.5M |
| Graham number | $74.92 | $74.94 | $54.52 | $47.04 | $34.11 | $24.96 | $25.05 | $17.34 | $11.06 | $5.75 |
| Graham net-net per share | −$96.33 | −$68.26 | −$44.39 | −$39.49 | −$34.77 | −$30.63 | −$31.10 | −$19.38 | −$19.85 | −$15.26 |
| Capital allocation | ||||||||||
| Dividends paid | $84.8M | $84.8M | $64.8M | $0 | $0 | — | — | — | $0 | $0 |
| Share buybacks (net) | $325.5M | $122.8M | $286.6M | $94.7M | $65.6M | $52.0M | $42.5M | $105.2M | $56.9M | $35.6M |
| Dividend payout ratio | 18.7% | 16.9% | 19.0% | 0.0% | 0.0% | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 100.6% | 61.7% | 121.9% | 41.5% | 33.9% | 39.1% | 32.4% | 84.2% | 79.9% | 64.5% |
| Capex / revenue | 13.2% | 10.5% | 11.6% | 9.9% | 12.0% | 11.2% | 12.6% | 10.6% | 13.7% | 13.3% |
| Capex / operating cash flow | 39.9% | 37.0% | 40.6% | 37.5% | 39.5% | 41.4% | 41.4% | 32.4% | 45.5% | 44.3% |
| Capex / depreciation | 1.54 | 1.35 | 1.73 | 1.48 | 1.88 | 1.76 | 2.20 | 2.02 | 3.06 | 3.21 |
| Stock-based compensation / revenue | 5.8% | −1.2% | 7.7% | 6.9% | 9.2% | 10.7% | 6.4% | 6.5% | 8.9% | 6.8% |
| R&D / revenue | 13.8% | 12.9% | 11.7% | 10.8% | 11.2% | 10.7% | 9.9% | 8.2% | 7.0% | 6.4% |
| SG&A / revenue | 37.1% | 31.5% | 41.7% | 42.6% | 46.0% | 49.2% | 41.6% | 42.5% | 44.1% | 43.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 15.5 | 8.3 | 6.8 | 7.2 | 7.9 | 7.1 | 5.1 | 5.2 | 4.5 | 6.2 |
| Days of inventory on hand | 1.3 | 1.5 | 2.0 | 2.3 | 2.6 | 3.4 | 3.3 | 3.6 | 4.2 | 6.0 |
| Days payables outstanding | 12.7 | 20.6 | 19.8 | 18.7 | 14.2 | 17.5 | 18.9 | 25.7 | 25.9 | 29.2 |
| Cash conversion cycle (days) | 4.1 | -10.8 | -11.0 | -9.2 | -3.7 | -6.9 | -10.5 | -17.0 | -17.2 | -17.0 |
| Receivables turnover | 23.56 | 43.85 | 53.58 | 50.62 | 46.42 | 51.16 | 71.29 | 70.80 | 81.29 | 59.16 |
| Payables turnover | 28.81 | 17.70 | 18.45 | 19.49 | 25.78 | 20.87 | 19.36 | 14.21 | 14.09 | 12.52 |
| Inventory turnover | 283.42 | 239.00 | 183.77 | 155.37 | 141.88 | 107.01 | 112.27 | 102.21 | 87.10 | 61.16 |
| Asset turnover | 0.30 | 0.37 | 0.42 | 0.39 | 0.36 | 0.33 | 0.37 | 0.39 | 0.36 | 0.34 |
| Average receivables | $87.1M | $43.0M | $31.6M | $27.2M | $22.7M | $16.4M | $10.3M | $8.0M | $5.3M | $5.6M |
| Average payables | $15.2M | $18.9M | $15.0M | $10.9M | $6.3M | $5.9M | $5.7M | $6.4M | $5.1M | $4.3M |
| Average inventory | $1.6M | $1.4M | $1.5M | $1.4M | $1.1M | $1.2M | $977,500 | $888,000 | $827,000 | $884,000 |
| Intangibles / total assets | 1.2% | 1.7% | 2.4% | 2.7% | 3.4% | 2.0% | 2.1% | 3.5% | 3.9% | 5.0% |
Computed from PAYC's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PAYC valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Paycom Software traded at 19.7 times earnings, against a 10-year median of 62.7. Based on the latest twelve months, the trailing P/E is 26.6 and the forward P/E is 16.7. Paycom Software earned a return on equity of 27.4% and a return on invested capital of 30.0% in fiscal 2025. It ended the year with $152.2 million of debt and $370.0 million in cash and short-term investments, a net cash position of $217.8 million. It returned $410.3 million to shareholders: $84.8 million in dividends and $325.5 million in share buybacks, 101% of free cash flow. The share count fell 4.9% from 59.0M to 56.1M over 9 years.
See the PAYC income statement, the PAYC chart for price history, or the PAYC stock overview for the latest quote and news.
PAYC key metrics FAQ
What is Paycom Software's P/E ratio?
Paycom Software's trailing P/E ratio is 26.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.7. At the end of fiscal 2025 it was 19.7, compared with a 10-year median of 62.7.
What is Paycom Software's EV/EBITDA?
Paycom Software's enterprise value was 10.9 times EBITDA at the end of fiscal 2025 (enterprise value $8.7 billion, EBITDA $799.1 million); the current EV/EBITDA is 12.0.
What is Paycom Software's return on equity?
Paycom Software's return on equity (ROE) was 27.4% in fiscal 2025: net income of $453.4 million on average shareholders' equity of $1.7 billion.
What is Paycom Software's ROIC?
Paycom Software's return on invested capital was 30.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Paycom Software have?
Paycom Software had total debt of $152.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.09 and more cash than debt.
What is Paycom Software's dividend yield?
Paycom Software's forward dividend yield is 0.60%. Paycom Software paid $84.8 million in dividends in fiscal 2025 ($1.51 per share), a payout ratio of 18.7%.
Does Paycom Software buy back its shares?
Yes. Paycom Software spent $325.5 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.4% over the year, to 56.1M..
What is Paycom Software's free cash flow yield?
Paycom Software generated $408.0 million of free cash flow in fiscal 2025, a free cash flow yield of 4.6% on its market value at year-end ($8.9 billion).
What is Paycom Software's current ratio?
Paycom Software's current ratio was 1.09 at the end of fiscal 2025: current assets were 1.09 times current liabilities.