Paycom Software (PAYC) FY2016 results: revenue $329 million, up 46.5% on the year
Paycom Software, Inc. (PAYC) reported revenue of $329 million for fiscal 2016, the year ended 31 December 2016, up 46.5% on the year before. Net income was $70 million, up 236.2%, and diluted earnings per share $1.19. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$329 million
+46.5% on the year
FY2012FY2016
Operating margin
30.9%
15.3% a year earlier
FY2012FY2016
Net income
$70 million
+236.2% on the year
FY2012FY2016
Diluted EPS
$1.19
+230.6% on the year
FY2012FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
329
225
151
+46.5%
Cost of revenue
54.1
35.5
27.3
+52.4%
Gross profit
275
189
124
+45.4%
Gross margin
83.6%
84.2%
81.9%
Research and development
21.0
8.6
4.3
+143.0%
Selling, general and administrative
173
155
108
+12.0%
Operating income
102
34.4
15.7
+195.5%
Operating margin
30.9%
15.3%
10.4%
Interest expense
1.0
1.4
3.4
-27.4%
Pre-tax income
101
33.5
9.7
+201.3%
Income tax
30.6
12.6
4.0
+143.2%
Effective tax rate
30.3%
37.5%
41.4%
Net income
70.4
20.9
5.7
+236.2%
Net margin
21.4%
9.3%
3.8%
Diluted EPS
$1.19
$0.36
$0.11
+230.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
98.8
43.0
22.3
+130.0%
Capital expenditure
43.8
16.5
14.3
+164.7%
Free cash flow
55.0
26.4
8.1
+108.2%
Free cash flow margin
16.7%
11.8%
5.3%
Cash from investing
-205
n/a
n/a
Cash from financing
116
n/a
n/a
Depreciation and amortisation
13.6
9.4
7.2
+44.7%
Share-based compensation
20.7
3.2
0.7
+543.7%
Buybacks
35.6
n/a
n/a
Diluted shares, weighted
59m
58m
52m
+1.8%
Shares outstanding at period end
57m
57m
54m
+0.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
206
98.3
74.1
+109.2%
Debt
29.8
25.7
27.0
+15.9%
Other liabilities
843
753
698
+12.0%
Total liabilities and equity
1,079
877
799
+23.0%
Fixed assets
96.8
58.9
47.9
+64.5%
Goodwill
51.9
51.9
51.9
0.0%
Intangible assets
1.9
3.5
5.1
-46.3%
Cash and equivalents
60.2
50.7
25.1
+18.6%
Receivables
1.3
2.4
2.8
-43.1%
Inventory
0.7
1.1
0.2
-38.2%
Other assets
866
708
666
+22.2%
Total assets
1,079
877
799
+23.0%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.