Estados financieros detallados de Paylocity Holding Corporation (PCTY): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Paylocity Holding Corporation registró ingresos de $1.77B en el último ejercicio fiscal, con un CAGR de 5 años del 22.7%. El beneficio neto alcanzó $269.7M, con un CAGR a 5 años del 30.7%.
Márgenes de los últimos 12 meses: margen bruto 69.2%, margen operativo 21.8%, margen neto 15.2%. El flujo de caja libre creció a un CAGR del 41.8% en 5 años.
Al precio actual de $147.32, PCTY cotiza a un P/E de 30.84 y un ROE del 23.44%. La capitalización bursátil es de $7.9B.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $300.0M | $377.5M | $467.6M | $561.3M | $635.6M | $852.7M | $1.17B | $1.40B | $1.60B | $1.77B |
| Coste de Ventas | $124.0M | $149.2M | $153.9M | $182.0M | $219.3M | $287.0M | $367.0M | $441.7M | $498.2M | $545.8M |
| Beneficio Bruto | $176.0M | $228.3M | $313.8M | $379.3M | $416.3M | $565.6M | $807.6M | $960.8M | $1.10B | $1.23B |
| I+D | $29.1M | $37.6M | $50.3M | $62.8M | $76.7M | $102.9M | $164.0M | $178.3M | $205.9M | $221.4M |
| Generales y Administrativos | $139.6M | $174.7M | $207.2M | $250.4M | $281.6M | $378.1M | $488.5M | $522.4M | $587.1M | $618.1M |
| Gastos Operativos | $168.7M | $212.4M | $257.6M | $313.1M | $358.3M | $481.1M | $652.5M | $700.7M | $793.0M | $839.5M |
| Beneficio Operativo | $7.3M | $15.9M | $56.2M | $66.2M | $58.0M | $84.6M | $155.0M | $260.1M | $304.0M | $386.0M |
| EBITDA | $28.3M | $46.2M | $90.8M | $104.1M | $100.1M | $134.3M | $220.2M | $354.2M | $421.8M | $499.1M |
| Gastos por Intereses | 0 | 0 | 0 | $695000 | 0 | $498000 | $752000 | $758000 | $13.1M | 0 |
| Beneficio Antes de Impuestos | $7.4M | $16.8M | $58.0M | $67.1M | $57.1M | $83.6M | $158.6M | $277.0M | $309.1M | $387.3M |
| Impuestos | $651000 | -$21.8M | $4.2M | $2.7M | -$13.7M | -$7.2M | $17.8M | $70.2M | $81.9M | $117.6M |
| Beneficio Neto | $6.7M | $38.6M | $53.8M | $64.5M | $70.8M | $90.8M | $140.8M | $206.8M | $227.1M | $269.7M |
| BPA | $0.13 | $0.74 | $1.02 | $1.20 | $1.30 | $1.65 | $2.53 | $3.68 | $4.08 | $4.99 |
| BPA Diluido | $0.12 | $0.70 | $0.97 | $1.16 | $1.26 | $1.61 | $2.49 | $3.63 | $4.02 | $4.92 |
| Acciones en Circulación (Diluidas) | $54.1M | $54.9M | $55.4M | $55.8M | $56.3M | $56.4M | $56.6M | $57.0M | $56.5M | $54.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $408.2M | $416.1M | $502.3M | $444.7M |
| Beneficio Bruto | $279.8M | $282.1M | $363.2M | $300.4M |
| Beneficio Operativo | $74.2M | $70.4M | $157.0M | $84.4M |
| EBITDA | $101.7M | $98.2M | $184.3M | $115.0M |
| Beneficio Neto | $48.0M | $50.2M | $111.2M | $60.3M |
| BPA | $0.87 | $0.93 | $2.06 | $1.13 |
| BPA Diluido | $0.86 | $0.91 | $2.04 | $1.11 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $103.5M | $137.2M | $132.5M | $250.9M | $202.3M | $139.8M | $288.8M | $401.8M | $398.1M | $271.9M |
| Inversiones a Corto | 0 | 0 | $29.3M | $34.6M | $4.5M | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $2.0M | $3.5M | $4.4M | $4.9M | $6.3M | $15.8M | $25.1M | $33.0M | $41.6M | $50.1M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $1.06B | $1.38B | $1.60B | $1.66B | $2.03B | $4.23B | $3.05B | $3.52B | $3.31B | $3.72B |
| Inmovilizado Material | $40.8M | $62.0M | $70.1M | $115.4M | $103.8M | $112.0M | $108.1M | $94.4M | $90.2M | $248.1M |
| Fondo de Comercio | $6.0M | $9.6M | $9.6M | $21.7M | $33.6M | $101.9M | $102.1M | $108.9M | $343.1M | $379.0M |
| Activos Intangibles | $26.3M | $34.1M | $38.2M | $49.9M | $58.0M | $107.5M | $120.7M | $144.7M | $225.0M | $512.4M |
| Activos Totales | $1.14B | $1.51B | $1.80B | $1.99B | $2.41B | $4.81B | $3.70B | $4.25B | $4.39B | $4.88B |
| Cuentas por Pagar | $2.0M | $3.0M | $4.0M | $1.8M | $4.2M | $8.4M | $6.2M | $8.6M | $17.3M | $10.9M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $974.8M | $1.27B | $1.46B | $1.41B | $1.87B | $4.12B | $2.77B | $3.12B | $2.91B | $3.42B |
| Deuda a Largo | 0 | 0 | 0 | $100.0M | 0 | 0 | 0 | 0 | $162.5M | $81.2M |
| Pasivos Totales | $989.8M | $1.29B | $1.50B | $1.59B | $1.94B | $4.20B | $2.85B | $3.21B | $3.16B | $3.66B |
| Reservas | -$45.3M | -$6.7M | $99.8M | $164.3M | $235.1M | $325.9M | $466.7M | $673.5M | $900.6M | $1.17B |
| Patrimonio Neto | $147.6M | $212.8M | $308.0M | $392.9M | $476.9M | $613.5M | $842.9M | $1.03B | $1.23B | $1.22B |
| Deuda Total | 0 | $2.1M | $1.5M | $181.4M | $74.8M | $77.5M | $70.3M | $54.4M | $217.9M | $123.5M |
| Deuda Neta | -$103.5M | -$135.1M | -$160.3M | -$104.0M | -$132.0M | -$62.2M | -$218.5M | -$347.4M | -$180.2M | -$148.5M |
| Capital Circulante | $88.0M | $107.4M | $140.1M | $254.2M | $165.9M | $111.1M | $273.6M | $407.1M | $406.7M | $302.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $165.2M | $162.5M | $299.7M | $271.9M |
| Activos Totales | $4.24B | $6.97B | $5.44B | $4.88B |
| Pasivos Totales | $3.13B | $5.87B | $4.26B | $3.66B |
| Patrimonio Neto | $1.10B | $1.10B | $1.18B | $1.22B |
| Deuda Total | $135.5M | $133.5M | $134.6M | $123.5M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | $6.7M | $38.6M | $53.8M | $64.5M | $70.8M | $90.8M | $140.8M | $206.8M | $227.1M | $269.7M |
| Amortizaciones | $21.0M | $30.2M | $34.6M | $37.9M | $43.0M | $50.2M | $60.9M | $76.4M | $99.6M | $111.8M |
| Compensación en Acciones | $26.7M | $30.4M | $38.8M | 0 | $63.1M | $96.2M | $147.3M | $146.0M | $142.8M | $138.7M |
| Cambio en Capital Circulante | $7.0M | $20.5M | -$14.8M | -$39.0M | -$39.8M | -$76.2M | -$77.3M | -$68.6M | -$48.6M | -$71.6M |
| Flujo de Caja Operativo | $62.0M | $97.9M | $115.0M | $112.0M | $124.8M | $155.1M | $282.7M | $384.6M | $418.2M | $533.3M |
| Inversiones (CapEx) | -$35.0M | -$37.3M | -$31.4M | -$16.6M | -$38.1M | -$52.6M | -$66.9M | -$18.0M | -$75.5M | -$36.2M |
| Adquisiciones | 0 | -$8.3M | 0 | -$16.7M | -$15.0M | -$107.6M | 0 | -$12.0M | -$277.9M | -$49.2M |
| Recompra de Acciones | 0 | 0 | -$35.0M | 0 | 0 | 0 | 0 | -$150.0M | -$149.6M | -$398.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $27.0M | $60.6M | $83.6M | $95.4M | $86.8M | $102.5M | $215.8M | $366.6M | $342.8M | $497.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $86.5M | $117.0M | $217.9M | $111.9M |
| Inversiones (CapEx) | -$19.3M | -$19.3M | -$26.1M | -$20.6M |
| Flujo de Caja Libre | $67.2M | $97.7M | $191.8M | $91.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $37.8M | $42.2M | $31.4M | $27.2M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +25.8% | +23.9% | +20.0% | +13.2% | +34.1% | +37.8% | +19.4% | +13.7% | +11.0% |
| Crecimiento Beneficio Neto (anual) | | +474.5% | +39.4% | +19.8% | +9.9% | +28.2% | +55.1% | +46.8% | +9.8% | +18.8% |
| Crecimiento BPA (anual) | | +469.2% | +37.8% | +17.6% | +8.3% | +26.9% | +53.3% | +45.5% | +10.9% | +22.3% |
| Cambio en Acciones (anual) | | +1.5% | +1.0% | +0.7% | +0.9% | +0.2% | +0.3% | +0.7% | -0.7% | -3.1% |
| Crecimiento FCF (anual) | | +124.3% | +38.1% | +14.1% | -9.0% | +18.1% | +110.6% | +69.9% | -6.5% | +45.0% |
| Margen Bruto | 58.7% | 60.5% | 67.1% | 67.6% | 65.5% | 66.3% | 68.8% | 68.5% | 68.8% | 69.2% |
| Margen Operativo | 2.4% | 4.2% | 12.0% | 11.8% | 9.1% | 9.9% | 13.2% | 18.5% | 19.1% | 21.8% |
| Margen EBITDA | 9.4% | 12.2% | 19.4% | 18.5% | 15.7% | 15.8% | 18.7% | 25.3% | 26.4% | 28.2% |
| Margen Neto | 2.2% | 10.2% | 11.5% | 11.5% | 11.1% | 10.6% | 12.0% | 14.7% | 14.2% | 15.2% |
| Margen FCF | 9.0% | 16.0% | 17.9% | 17.0% | 13.7% | 12.0% | 18.4% | 26.1% | 21.5% | 28.1% |
| Tasa Impositiva Efectiva | 8.8% | -130.4% | 7.3% | 4.0% | -24.0% | -8.6% | 11.2% | 25.4% | 26.5% | 30.4% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $0.50 | $1.10 | $1.51 | $1.71 | $1.54 | $1.82 | $3.81 | $6.43 | $6.06 | $9.08 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $51.4M | $52.4M | $52.9M | $53.5M | $54.3M | $55.0M | $55.7M | $56.2M | $55.6M | $54.1M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | 23.44% |
| Rentabilidad sobre capital invertido | 18.36% |
| Rentabilidad sobre activos | 5.52% |
| Margen bruto | 69.19% |
| Margen operativo | 21.79% |
| Margen neto | 15.23% |
Salud financiera
| Deuda / Patrimonio | 0.10 |
| Ratio corriente | 1.09 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | 347.54 | 79.54 | 95.12 | 121.57 | 146.77 | 105.71 | 72.94 | 35.87 | 44.41 | 20.95 |
| P/VC | 15.74 | 14.50 | 16.67 | 19.88 | 21.73 | 15.65 | 12.20 | 7.18 | 8.17 | 4.63 |
| P/V | 7.74 | 8.17 | 10.98 | 13.92 | 16.30 | 11.26 | 8.75 | 5.29 | 6.32 | 3.19 |
| Margen Bruto | 58.7% | 60.5% | 67.1% | 67.6% | 65.5% | 66.3% | 68.8% | 68.5% | 68.8% | 69.2% |
| Margen Operativo | 2.4% | 4.2% | 12.0% | 11.8% | 9.1% | 9.9% | 13.2% | 18.5% | 19.1% | 21.8% |
| Margen Neto | 2.2% | 10.2% | 11.5% | 11.5% | 11.1% | 10.6% | 12.0% | 14.7% | 14.2% | 15.2% |