Price to Sales (P/S)
since 2014
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2014
- Operating Profit Margin since 2014
- Return on Assets (ROA) since 2014
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Calculation
Paycom Software Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 16, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2015 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Paycom Software Inc. Annual Report.
- Share Price Trend
- The share price initially experienced a decline from $32.84 in 2015 to $29.27 in 2016, followed by a substantial upward trajectory, reaching $401.55 in 2021. After peaking in 2021, the price exhibited a downward trend, decreasing to $327.72 in 2022 and further to $307.45 in 2023.
- Sales Per Share Trend
- Sales per share showed consistent growth throughout the period, increasing from $2.8 in 2015 to $23.76 in 2023. This growth was steady each year, with no indication of decline or plateau, suggesting strong expansion in revenue on a per-share basis.
- Price-to-Sales (P/S) Ratio Trend
- The P/S ratio experienced initial volatility, decreasing from 11.72 in 2015 to 7.44 in 2016, then rising steadily to a peak of 27.55 in 2021. Subsequent years showed a notable decline in the P/S ratio, dropping to 18.01 in 2022 and further to 12.94 in 2023. This pattern indicates changing market valuation multiples, with peak valuation occurring in 2021 and corrections thereafter.
- Overall Insights
- The data reveals robust growth in sales per share, indicating strong operational performance and increasing revenue generation. The share price growth aligns broadly with this sales growth but displays greater volatility, reflecting market sentiment and valuation adjustments. The elevated P/S ratios through 2019 to 2021 suggest high investor expectations during this period, whereas the subsequent decline in P/S ratios and share price after 2021 may reflect a market re-evaluation of growth prospects or profitability concerns. Despite the share price retreat, the continuous rise in sales per share suggests that the underlying business fundamentals remained positive over the entire period.
Comparison to Industry (Industrials)
Paycom Software Inc., P/S, long-term trends, comparison to industry (industrials)
| Paycom Software Inc. | Industrials | |
|---|---|---|
| Feb 16, 2023 | ||
| Feb 17, 2022 | ||
| Feb 18, 2021 | ||
| Feb 13, 2020 | ||
| Feb 14, 2019 | ||
| Feb 14, 2018 | ||
| Feb 21, 2017 | ||
| Feb 22, 2016 | ||
| Feb 26, 2015 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).