Paycom Software (PAYC) FY2018 results: revenue $566 million, up 30.8% on the year
Paycom Software, Inc. (PAYC) reported revenue of $566 million for fiscal 2018, the year ended 31 December 2018, up 30.8% on the year before. Net income was $137 million, up 11.0%, and diluted earnings per share $2.34. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$566 million
+30.8% on the year
FY2012FY2018
Operating margin
30.7%
30.0% a year earlier
FY2012FY2018
Net income
$137 million
+11.0% on the year
FY2012FY2018
Diluted EPS
$2.34
+11.4% on the year
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
566
433
329
+30.8%
Cost of revenue
90.8
72.0
54.1
+26.0%
Gross profit
476
361
275
+31.7%
Gross margin
84.0%
83.4%
83.6%
Research and development
46.2
30.4
21.0
+52.0%
Selling, general and administrative
302
231
173
+30.5%
Operating income
174
130
102
+33.9%
Operating margin
30.7%
30.0%
30.9%
Interest expense
0.8
0.9
1.0
-15.9%
Pre-tax income
175
128
101
+36.8%
Income tax
37.6
4.2
30.6
+786.6%
Effective tax rate
21.5%
3.3%
30.3%
Net income
137
123
70.4
+11.0%
Net margin
24.2%
28.5%
21.4%
Diluted EPS
$2.34
$2.10
$1.19
+11.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
185
130
98.8
+42.0%
Capital expenditure
59.9
59.4
43.8
+0.9%
Free cash flow
125
70.8
55.0
+76.5%
Free cash flow margin
22.1%
16.3%
16.7%
Cash from investing
-49.4
15.6
-205
Cash from financing
-248
146
116
Depreciation and amortisation
29.7
19.4
13.6
+52.9%
Share-based compensation
36.6
36.1
20.7
+1.4%
Buybacks
105
56.9
35.6
+84.9%
Diluted shares, weighted
59m
59m
59m
-0.4%
Shares outstanding at period end
57m
58m
57m
-0.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
335
281
206
+19.0%
Debt
34.4
35.3
29.8
-2.6%
Other liabilities
1,153
1,234
843
-6.6%
Total liabilities and equity
1,522
1,550
1,079
-1.8%
Fixed assets
177
148
96.8
+19.8%
Goodwill
51.9
51.9
51.9
0.0%
Intangible assets
0.7
1.0
1.9
-22.2%
Cash and equivalents
45.7
46.1
60.2
-0.8%
Receivables
3.4
1.6
1.3
+116.6%
Inventory
0.8
1.0
0.7
-18.6%
Other assets
1,242
1,301
866
-4.5%
Total assets
1,522
1,550
1,079
-1.8%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.