Paycom Software, Inc.

PAYCUS

Paycom Software, Inc., established in 1998 and headquartered in Oklahoma City, Oklahoma, provides a comprehensive, cloud-based human capital management (HCM) platform. This software-as-a-service (SaaS) solution is specifically tailored for small to mid-sized businesses across the United States. It equips organizations with the essential functionality and analytical insights needed to oversee the complete employee journey, from the initial hiring process through to retirement. The robust HCM suite encompasses a wide array of applications across several critical HR domains. For talent acquisition and onboarding, it offers tools such as applicant tracking, candidate management, background checks, seamless onboarding processes, E-Verify compliance, and tax credit services. Time and labor management capabilities include precise time and attendance tracking, flexible scheduling with exchange options, efficient time-off request management, labor allocation, detailed reporting (including push reports), and advanced location-based features like geofencing, geotracking, and their proprietary Microfence Bluetooth technology. Payroll processing is streamlined through applications for improved employee transaction interfaces, comprehensive payroll and tax administration, direct payment options (Paycom Pay), expense management, mileage tracking (with fixed and variable rates), garnishment management, and GL concierge services. Talent development and performance management are supported by employee self-service portals, compensation budgeting, performance review systems, position management, Paycom learning modules, content subscriptions, and "my analytics" for predictive employment reporting. Furthermore, the platform integrates various other crucial functions. These include "Manager On-the-Go" for supervisors to approve time-off and expenses remotely, "Ask Here" for direct employee-to-HR communication, direct data exchange capabilities, and tools for document management and checklists. It also addresses compliance and benefits administration with features for government regulations, benefits enrollment (including carrier integration), COBRA administration, personnel action and performance discussion forms, surveys, and Affordable Care Act applications. A notable offering is "Clue," which provides a secure system for collecting, tracking, and managing employee vaccination and testing data.

Founded1998IPO year2014As of2026-08-04
Market Cap
$9.40B
Enterprise Value
$10.00B
EV / LTM Revenue
4.9x
EV / NTM Revenue
4.4x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
4.4x
Gross Profit
5.5x
EBITDA
8.9x
Classification
Sector
Application Software
Sub-sector
HR, Payroll & Workforce Applications
Listing
PAYC
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY30%23%11%9%7%7%
Revenue$1.06B$1.38B$1.69B$1.88B$2.05B$2.19B$2.34B
Gross Profit$894M$1.16B$1.42B$1.55B$1.66B
Gross Profit Margin84.7%84.5%83.7%82.2%80.8%
EBITDA$323M$485M$588M$798M$799M$1.08B$1.16B
EBITDA Margin30.6%35.3%34.7%42.4%39.0%49.3%49.3%
EBIT$254M$379M$451M$634M$567M$848M$909M
Net Income$196M$281M$341M$502M$453M$613M$731M
Free Cash Flow$193M$228M$288M$341M$406M
FCF Margin18.3%16.6%17.0%18.1%19.8%
Short-Term Debt$2M$0M$0M$0M$28M
Long-Term Debt$27M$29M$0M$0M$62M
Cash & Cash Equivalents$278M$401M$294M$402M$370M
Net Debt($249M)($372M)($294M)($402M)($280M)
Net Debt / EBITDA-0.8x-0.8x-0.5x-0.5x-0.3x
Rule of 4046.9%40.2%29.3%28.7%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.