Paylocity Holding (PCTY) FY2021 results: revenue $636 million, up 13.2% on the year
Paylocity Holding Corp. (PCTY) reported revenue of $636 million for fiscal 2021, the year ended 30 June 2021, up 13.2% on the year before. Net income was $71 million, up 9.9%, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2021.
Revenue
$636 million
+13.2% on the year
FY2014FY2021
Operating margin
9.1%
11.8% a year earlier
FY2014FY2021
Net income
$71 million
+9.9% on the year
FY2014FY2021
Diluted EPS
$1.26
+9.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
636
561
468
+13.2%
Cost of revenue
219
182
154
+20.5%
Gross profit
416
379
314
+9.8%
Gross margin
65.5%
67.6%
67.1%
Research and development
76.7
62.8
50.3
+22.2%
Operating income
58.0
66.2
56.2
-12.3%
Operating margin
9.1%
11.8%
12.0%
Pre-tax income
57.1
67.1
58.0
-14.9%
Income tax
-13.7
2.7
4.2
Effective tax rate
-24.0%
4.0%
7.3%
Net income
70.8
64.5
53.8
+9.9%
Net margin
11.1%
11.5%
11.5%
Diluted EPS
$1.26
$1.15
$0.97
+9.6%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
125
113
115
+10.8%
Capital expenditure
9.5
16.6
11.3
-42.9%
Free cash flow
115
96.1
104
+20.1%
Free cash flow margin
18.2%
17.1%
22.2%
Cash from investing
48.4
-48.8
-43.3
Cash from financing
280
2.1
115
+13,307.2%
Depreciation and amortisation
43.0
37.9
34.6
+13.3%
Share-based compensation
63.1
47.5
38.8
+32.8%
Buybacks
n/a
n/a
35.0
Diluted shares, weighted
56m
56m
55m
+0.9%
Shares outstanding at period end
55m
54m
53m
+1.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
477
393
308
+21.4%
Debt
0.0
100
0.0
Operating lease liabilities
67.2
73.3
n/a
-8.3%
Other liabilities
1,871
1,419
1,496
+31.8%
Total liabilities and equity
2,415
1,986
1,804
+21.6%
Fixed assets
59.8
66.7
70.1
-10.3%
Goodwill
33.6
21.7
9.6
+55.4%
Intangible assets
13.0
13.4
10.8
-2.5%
Investments
4.5
34.6
29.3
-87.1%
Cash and equivalents
202
251
132
-19.4%
Receivables
6.3
4.9
4.4
+27.3%
Other assets
2,095
1,594
1,547
+31.5%
Total assets
2,415
1,986
1,804
+21.6%
10-K for the year ended 30 June 2021, filed 6 August 2021: the filing.