Paylocity Holding (PCTY) FY2020 results: revenue $561 million, up 20.0% on the year
Paylocity Holding Corp. (PCTY) reported revenue of $561 million for fiscal 2020, the year ended 30 June 2020, up 20.0% on the year before. Net income was $64 million, up 19.8%, and diluted earnings per share $1.15. The figures are the company's own, from the 10-K it filed with the SEC on 7 August 2020.
Revenue
$561 million
+20.0% on the year
FY2013FY2020
Operating margin
11.8%
12.0% a year earlier
FY2013FY2020
Net income
$64 million
+19.8% on the year
FY2013FY2020
Diluted EPS
$1.15
+18.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
561
468
378
+20.0%
Cost of revenue
182
154
149
+18.3%
Gross profit
379
314
228
+20.9%
Gross margin
67.6%
67.1%
60.5%
Research and development
62.8
50.3
37.6
+24.7%
Operating income
66.2
56.2
15.9
+17.7%
Operating margin
11.8%
12.0%
4.2%
Pre-tax income
67.1
58.0
16.8
+15.6%
Income tax
2.7
4.2
-21.8
-36.9%
Effective tax rate
4.0%
7.3%
-130.4%
Net income
64.5
53.8
38.6
+19.8%
Net margin
11.5%
11.5%
10.2%
Diluted EPS
$1.15
$0.97
$0.70
+18.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
113
115
97.9
-2.1%
Capital expenditure
16.6
11.3
21.7
+47.0%
Free cash flow
96.1
104
76.2
-7.4%
Free cash flow margin
17.1%
22.2%
20.2%
Cash from investing
-48.8
-43.3
-179
Cash from financing
2.1
115
275
-98.2%
Depreciation and amortisation
37.9
34.6
30.2
+9.7%
Share-based compensation
47.5
38.8
30.4
+22.5%
Buybacks
n/a
35.0
n/a
Diluted shares, weighted
56m
55m
55m
+0.7%
Shares outstanding at period end
54m
53m
53m
+1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
393
308
213
+27.6%
Debt
100
0.0
n/a
Operating lease liabilities
73.3
n/a
n/a
Other liabilities
1,419
1,496
1,295
-5.1%
Total liabilities and equity
1,986
1,804
1,508
+10.1%
Fixed assets
66.7
70.1
62.0
-4.7%
Goodwill
21.7
9.6
9.6
+125.8%
Intangible assets
13.4
10.8
13.0
+24.3%
Investments
34.6
29.3
0.7
+17.9%
Cash and equivalents
251
132
137
+89.4%
Receivables
4.9
4.4
3.5
+13.0%
Other assets
1,594
1,547
1,282
+3.0%
Total assets
1,986
1,804
1,508
+10.1%
10-K for the year ended 30 June 2020, filed 7 August 2020: the filing.