Paylocity Holding (PCTY) FY2019 results: revenue $468 million, up 23.9% on the year
Paylocity Holding Corp. (PCTY) reported revenue of $468 million for fiscal 2019, the year ended 30 June 2019, up 23.9% on the year before. Net income was $54 million, up 39.4%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 9 August 2019.
Revenue
$468 million
+23.9% on the year
FY2012FY2019
Operating margin
12.0%
4.2% a year earlier
FY2012FY2019
Net income
$54 million
+39.4% on the year
FY2012FY2019
Diluted EPS
$0.97
+38.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
468
378
300
+23.9%
Cost of revenue
154
149
124
+3.1%
Gross profit
314
228
176
+37.4%
Gross margin
67.1%
60.5%
58.7%
Research and development
50.3
37.6
29.1
+33.7%
Operating income
56.2
15.9
7.3
+252.5%
Operating margin
12.0%
4.2%
2.4%
Pre-tax income
58.0
16.8
7.4
+246.5%
Income tax
4.2
-21.8
0.7
Effective tax rate
7.3%
-130.4%
8.8%
Net income
53.8
38.6
6.7
+39.4%
Net margin
11.5%
10.2%
2.2%
Diluted EPS
$0.97
$0.70
$0.12
+38.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
115
97.9
62.0
+17.5%
Capital expenditure
11.3
21.7
21.3
-48.0%
Free cash flow
104
76.2
40.6
+36.2%
Free cash flow margin
22.2%
20.2%
13.5%
Cash from investing
-43.3
-179
-37.8
Cash from financing
115
275
-304
-58.3%
Depreciation and amortisation
34.6
30.2
21.0
+14.4%
Share-based compensation
38.8
30.4
26.7
+27.7%
Buybacks
35.0
n/a
n/a
Diluted shares, weighted
55m
55m
54m
+1.0%
Shares outstanding at period end
53m
53m
52m
+0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
308
213
148
+44.7%
Debt
0.0
n/a
0.0
Other liabilities
1,496
1,295
990
+15.5%
Total liabilities and equity
1,804
1,508
1,137
+19.7%
Fixed assets
70.1
62.0
40.8
+12.9%
Goodwill
9.6
9.6
6.0
0.0%
Intangible assets
10.8
13.0
8.9
-17.3%
Investments
29.3
0.7
n/a
+3,904.6%
Cash and equivalents
132
137
103
-3.4%
Receivables
4.4
3.5
2.0
+26.2%
Other assets
1,547
1,282
976
+20.7%
Total assets
1,804
1,508
1,137
+19.7%
10-K for the year ended 30 June 2019, filed 9 August 2019: the filing.