Paycom Software, Inc. (PAYC)

NYSE: PAYC · USD

$262

-0.13 (-0.1%)· Recorded snapshot

영어 원본으로 대체KO

번역하는 동안 영어 원본을 표시 중

이 리포트는 아직 번역되지 않았습니다. 번역 대기열이 따라잡으면 몇 분 후에 새로고침하세요.

StockMarketAgent Research · Analyzed 2026-10-14

Our latest published analysis: PAYC rated Hold

Paycom Software, Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$259 / share

Potential value

$295 / share

Upside to FV

+8.5%

from $262

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$10.8B
Revenue (ttm)	2.1B
Net income (ttm)	487.6M
EPS (ttm)	$9.35
Shares out	44.3M
P/E (trailing)	28.0x
P/E (forward)	16.7x
Dividend	$1.50 (0.57%)
Volume	295,129
Beta	0.83

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 2.1B
Net income (ttm): 487.6M
EPS (ttm): $9.35
P/E (trailing): 28.0x
P/E (forward): 16.7x
Market cap: $10.8B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$1.06B	$1.38B	$1.69B	$1.88B	$2.05B	+18.1%
Gross profit	$893.6M	$1.16B	$1.42B	$1.55B	$1.71B	+17.6%
Operating income	$253.6M	$378.7M	$451.3M	$634.3M	$567.2M	+22.3%
Net income	$196.0M	$281.4M	$340.8M	$502.0M	$453.4M	+23.3%
EPS (diluted)	$3.37	$4.84	$5.88	$8.92	$8.08	+24.4%
EBITDA	$323.2M	$484.8M	$588.2M	$798.3M	$799.1M	+25.4%
R&D	$118.4M	$148.3M	$199.0M	$242.6M	$283.4M	+24.4%
SG&A	$640.1M	$783.8M	$966.1M	$914.3M	$1.14B	+15.5%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	보유
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	매도
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	매도

Base and Bull scenarios

Base55%

Price target

$259.38

+8.5% from spot

Under the base case, Paycom delivers steady recurring revenue growth supported by stable client employment and ongoing territory expansion. Capital spending normalizes as planned, enabling free cash flow expansion and disciplined share repurchases. This path yields our Fair value target of $259.38 (representing $259.38), with an assigned probability of 55.0% and an expected return of 8.5% against the analysis share price of $239.00.

Recurring software subscription revenue expands steadily in line with annual guidance
Capital expenditures moderate following data center buildout completion
Operating margins expand as internal automation efficiencies materialize

Bull20%

Price target

$294.78

+23.3% from spot

Under the upside case, new sales representative cohorts reach quota productivity faster than expected, accelerating new client bookings across enterprise accounts. High adoption of Beti self-service payroll drives client expansion, while internal artificial intelligence data center infrastructure delivers greater operational efficiencies. This trajectory supports our Potential value target of $294.78 (Potential value $294.78), carrying an assigned probability of 20.0% and an implied return of 23.3% relative to the analysis share price $239.00.

Sales representative ramp times accelerate bookings growth across regional offices
Beti adoption expands client return on investment and reduces customer churn
Proprietary AI data center operations generate substantial recurring cost savings

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($259.38). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
8.4%	$268	$283	$300	$322	$348
8.9%	$251	$264	$278	$295	$316
9.4%	$237	$247	$259	$274	$290
9.9%	$224	$233	$243	$255	$269
10.4%	$213	$221	$230	$240	$251

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E16.7

P25 n/aP50 n/aP75 n/a

Trailing P/E25

P25 n/aP50 n/aP75 n/a

ROE41.1

P25 n/aP50 n/aP75 n/a

ROIC33.3

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All PAYC indicators

Market & fundamental data

Available fields

281

Groups with data

Currency

USD

Showing 281 of 281 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001590955
Company name	Paycom Software, Inc.
Country	United States
Country code	US
CUSIP number	70432V102
Earnings date	2026-11-04
Earnings time	amc
Employees	5,770
Employees change	-1,536
Employees growth	-21.02%
Enterprise value	$12.4B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1998
Industry	Software - Application
IPO date	2014-04-15
Is primary listing	Yes
Is SPAC	No
ISIN number	US70432V1026
Last 10-K release date	2026-02-19
Last earnings date	2026-08-05
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$11.6B
Market cap category	Large-Cap
Next earnings date	2026-11-04
Options	Yes
Price	$261.80
Price currency	USD
Sector	Technology
SIC code	7372
Stock price date	2026-10-28
Symbol	PAYC
U.S. state	Oklahoma
Website	https://www.paycom.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	25.37x
Average P/E ratio (10Y)	63.9x
Average P/E ratio (3Y)	24.71x
Average P/E ratio (5Y)	50.19x
Earnings yield	3.57%
EV/Earnings	25.33x
EV/EBIT	19.04x
EV/EBITDA	16.8x
EV/FCF	21.47x
EV/Sales	5.77x
FCF / EV yield	4.66%
FCF yield	4.97%
Forward EV/Sales	5.38x
Forward P/E	19.98x
Forward P/S	5.04x
Graham number	52.57251
Graham upside	-79.87%
Industry forward P/E	19.45x
Industry P/E	71.72x
Lynch fair value	$221.06
Lynch upside	-15.34%
P/(FCF - SBC) ratio	23.82x
P/(OCF - SBC) ratio	16.25x
P/B ratio	19.94x
P/E ratio	28x
P/FCF ratio	20.11x
P/OCF ratio	14.43x
P/S ratio	5.4x
PEG ratio	1.15x
Price / tangible book value	23.65x
Price/EBITDA ratio	15.73x
Sector forward P/E	18.86x
Sector P/E	32.79x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	30.29%
EBITDA margin	34.34%
Effective tax rate	28.71%
FCF margin	26.87%
Gross margin	88.06%
Operating margin	30.29%
Pretax margin	31.95%
Profit margin	22.78%
Profit per employee	$84,506
Profitable quarters	48
Profitable years	13
Revenue per employee	$371,005
ROA	8.78%
ROA (5Y)	6.15%
ROCE	33.1%
ROE	41.09%
ROE (5Y)	28.42%
ROIC	33.29%
ROIC (5Y)	33.11%
SBC / revenue	4.19%
Tax / revenue	9.17%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	26.32%
EPS growth (Q)	48.1%
EPS growth (QoQ)	-23.03%
EPS growth 10Y	30.79%
EPS growth 3Y	19.79%
EPS growth 5Y	26.4%
EPS growth quarters	5
EPS growth years	0
FCF growth	60.11%
FCF growth (Q)	212.66%
FCF growth (QoQ)	4.11%
FCF growth 3Y	24.26%
FCF growth 5Y	28.88%
Gross profit growth	11.62%
Gross profit growth (Q)	12.38%
Gross profit growth 3Y	11.55%
Gross profit growth 5Y	18.01%
Net income growth	17.3%
Net income growth (Q)	20%
Net income growth (QoQ)	-31.02%
Net income growth 3Y	15.57%
Net income growth 5Y	23.64%
Net income growth quarters	5
Net income growth years	0
OCF growth	43.59%
OCF growth (Q)	74.53%
OCF growth (QoQ)	0%
OCF growth 10Y	26.77%
OCF growth 3Y	21.38%
OCF growth 5Y	24.67%
Operating income growth	17.72%
Operating income growth (Q)	50.04%
Operating income growth 3Y	14.87%
Operating income growth 5Y	25.07%
Revenue growth	9.23%
Revenue growth (Q)	9.84%
Revenue growth (QoQ)	-7.12%
Revenue growth 10Y	22.36%
Revenue growth 3Y	11.18%
Revenue growth 5Y	18.1%
Revenue growth quarters	50
Revenue growth years	14

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-226.4M
Depreciation and amortization	$86.6M
EBIT	$648.5M
EBITDA	$735.1M
EPS	$9.35
FCF per share	$12.99
Financing cash flow	$474.8M
Free cash flow	$575.1M
Free cash flow minus SBC	$485.4M
Gross profit	$1.9B
Income taxes	$196.4M
Investing cash flow	$-100.5M
Net borrowing	$900M
Net cash flow	$1.2B
Net income	$487.6M
Operating cash flow minus SBC	$711.8M
Operating income	$648.5M
Revenue	$2.1B
Stock-based compensation	$89.7M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	2.71
Book value per share	$13.14
Debt / EBITDA	1.29
Debt / equity	1.72
Debt / FCF	1.71
Goodwill	$51.9M
Interest coverage	39.79
Long-term assets	$1.7B
Long-term liabilities	$1.4B
Net cash (debt)	$-784.8M
Net cash / market cap	-6.79%
Net debt / EBITDA	1.07
Net debt / equity	1.37
Net debt / FCF	1.36
Piotroski F-Score	5
Property, plant and equipment	$724.1M
Shareholders' equity	$571.5M
Tangible book value	$489M
Tangible book value per share	$11.24
Total assets	$5.2B
Total cash	$198M
Total debt	$982.8M
Total liabilities	$4.6B
WACC	8.2%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.46
Current assets	$3.5B
Current liabilities	$3.2B
Current ratio	1.07
Inventory turnover	154.97
Net working capital	$70.6M
Quick ratio	0.08
Working capital	$239.8M
Working capital turnover	5.4

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	7.13%
Dividend growth	0%
Dividend growth years	0
Dividend payment date	2026-09-08
Dividend payment years	4
Dividend payout frequency	Quarterly
Dividend per share	$1.50
Dividend yield	0.57%
Ex-dividend date	2026-08-24
FCF payout ratio	11.55%
Last dividend	$0.38
Payout ratio	16.04%
Shareholder yield	7.7%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	416.88%
10Y return CAGR	18.18%
10Y total return	431.1%
150-day SMA	$173.16
1D price change	-0.05%
1M price change	18.75%
1M total return	18.75%
1W price change	0.3%
1W total return	0.3%
1Y price change	30.74%
1Y return CAGR	32%
1Y total return	31.98%
20-day SMA	$245.65
200-day SMA	$162.80
3M price change	73.03%
3M total return	73.32%
3Y price change	8.93%
3Y return CAGR	3.73%
3Y total return	11.63%
50-day SMA	$234.31
50-day SMA vs 200-day SMA	50over200
52-week high	$275.22
52-week high date	2026-10-23
52-week low	$104.90
52-week low date	2026-02-12
5Y price change	-50.73%
5Y return CAGR	-12.73%
5Y total return	-49.37%
6M price change	111.28%
6M total return	112.21%
All-time high	$558.97
All-time high date	2021-11-02
All-time low	$12.28
All-time low date	2014-07-21
Average true range (ATR)	$8.10
Average volume	567.8K
Beta (1Y)	1.26
Beta (2Y)	0.96
Beta (5Y)	0.83
Change from 52-week high	-4.88%
Change from 52-week low	149.57%
Change from all-time high	-53.16%
Change from all-time low	2,031.92%
Change from open	-0.38%
Day's gap	0.32%
Dollar volume	$77.3M
High price	$263.18
Low price	$260.76
Monthly RSI	61.12
Open price	$262.79
Position in 52-week range	42.98%
Premarket change	-0.58%
Premarket close	$261.94
Premarket price	$260.43
Previous close	$261.94
Price vs 150-day SMA	51.19%
Price vs 20-day SMA	6.57%
Price vs 200-day SMA	60.81%
Price vs 50-day SMA	11.73%
Relative volume	0.52
RSI	65.64
Sharpe ratio	0.73
Sharpe ratio (3Y)	0.19
Sharpe ratio (5Y)	-0.12
Sortino ratio	1.35
Sortino ratio (3Y)	0.38
Sortino ratio (5Y)	-0.05
Volume	295.1K
Weekly RSI	71.66
YTD price change	64.28%
YTD total return	65.45%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	37.5M
Float percentage	84.79%
Shares change (QoQ)	-10.29%
Shares change (YoY)	-7.13%
Shares held by insiders	15.02%
Shares held by institutions	96.43%
Shares outstanding	44.3M
Short % of float	6.9%
Short % of shares	5.85%
Short ratio	3.4 days

Deeper analysis on PAYC

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this PAYC report

What is the latest published PAYC stock rating?

Paycom Software, Inc. is shown with Hold in the latest published report, analyzed 2026-10-14. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full PAYC analysis?

The full latest published report, analyzed 2026-10-14, lives at /stocks/PAYC/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for PAYC?

The latest published report analyzed 2026-10-14 gives PAYC a fair value of USD 259 and a potential value of USD 295. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the PAYC page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-14). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldPAYC · Fair value $259+8.5%

Read full analysis →

Paycom Software, Inc. (PAYC)

Our latest published analysis: PAYC rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · PAYC

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All PAYC indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on PAYC

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	6.0
Management	8.5
Balance Sheet	3.5
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	6.0
Competitive Moat	7.5
Earnings Quality	9.0
Capital Efficiency	7.5