Paycom Software (PAYC) FY2017 results: revenue $433 million, up 31.6% on the year
Paycom Software, Inc. (PAYC) reported revenue of $433 million for fiscal 2017, the year ended 31 December 2017, up 31.6% on the year before. Net income was $123 million, up 75.4%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2018.
Revenue
$433 million
+31.6% on the year
FY2012FY2017
Operating margin
30.0%
30.9% a year earlier
FY2012FY2017
Net income
$123 million
+75.4% on the year
FY2012FY2017
Diluted EPS
$2.10
+76.5% on the year
FY2012FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
433
329
225
+31.6%
Cost of revenue
72.0
54.1
35.5
+33.2%
Gross profit
361
275
189
+31.2%
Gross margin
83.4%
83.6%
84.2%
Research and development
30.4
21.0
8.6
+45.1%
Selling, general and administrative
231
173
155
+33.4%
Operating income
130
102
34.4
+27.5%
Operating margin
30.0%
30.9%
15.3%
Interest expense
0.9
1.0
1.4
-12.1%
Pre-tax income
128
101
33.5
+26.5%
Income tax
4.2
30.6
12.6
-86.1%
Effective tax rate
3.3%
30.3%
37.5%
Net income
123
70.4
20.9
+75.4%
Net margin
28.5%
21.4%
9.3%
Diluted EPS
$2.10
$1.19
$0.36
+76.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
130
98.8
43.0
+31.7%
Capital expenditure
59.4
43.8
16.5
+35.6%
Free cash flow
70.8
55.0
26.4
+28.6%
Free cash flow margin
16.3%
16.7%
11.8%
Cash from investing
15.6
-205
n/a
Cash from financing
146
116
n/a
+26.1%
Depreciation and amortisation
19.4
13.6
9.4
+42.3%
Share-based compensation
36.1
20.7
3.2
+74.1%
Buybacks
56.9
35.6
n/a
+60.0%
Diluted shares, weighted
59m
59m
58m
-0.3%
Shares outstanding at period end
58m
57m
57m
+0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
281
206
98.3
+36.7%
Debt
35.3
29.8
25.7
+18.4%
Other liabilities
1,234
843
753
+46.3%
Total liabilities and equity
1,550
1,079
877
+43.7%
Fixed assets
148
96.8
58.9
+52.5%
Goodwill
51.9
51.9
51.9
0.0%
Intangible assets
1.0
1.9
3.5
-48.8%
Cash and equivalents
46.1
60.2
50.7
-23.4%
Receivables
1.6
1.3
2.4
+17.7%
Inventory
1.0
0.7
1.1
+45.0%
Other assets
1,301
866
708
+50.3%
Total assets
1,550
1,079
877
+43.7%
10-K for the year ended 31 December 2017, filed 14 February 2018: the filing.