Selected Financial Data
since 2014
Income Statement
Paycom Software Inc., selected items from income statement, long-term trends
US$ in thousands
| 12 months ended: | Revenues | Operating income | Net income |
|---|---|---|---|
| Dec 31, 2022 | 1,375,218) | 378,679) | 281,389) |
| Dec 31, 2021 | 1,055,524) | 253,567) | 195,960) |
| Dec 31, 2020 | 841,434) | 186,123) | 143,453) |
| Dec 31, 2019 | 737,671) | 226,224) | 180,576) |
| Dec 31, 2018 | 566,336) | 173,715) | 137,065) |
| Dec 31, 2017 | 433,047) | 78,625) | 66,807) |
| Dec 31, 2016 | 329,141) | 57,971) | 43,840) |
| Dec 31, 2015 | 224,653) | 34,435) | 20,945) |
| Dec 31, 2014 | 150,929) | 15,700) | 5,663) |
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).
The financial performance from 2014 to 2022 is characterized by aggressive top-line expansion and substantial growth in absolute profitability. A consistent upward trajectory in revenues is evident, accompanied by a general increase in operating and net margins over the period, despite a temporary contraction observed in 2020.
- Revenue Performance
- Revenues grew consistently every year, rising from US$ 150.9 million in 2014 to US$ 1.375 billion by 2022. This represents a significant scaling of operations, with the most substantial absolute increases occurring between 2021 and 2022.
- Operating Income Trends
- Operating income demonstrated strong growth, increasing from US$ 15.7 million in 2014 to US$ 378.7 million in 2022. While the trend was generally positive, a notable decrease occurred in 2020, where operating income fell to US$ 186.1 million from US$ 226.2 million in 2019. This downturn was followed by a robust recovery in 2021 and further expansion in 2022.
- Net Income and Profitability
- Net income expanded from US$ 5.7 million in 2014 to US$ 281.4 million in 2022. The growth in net income closely mirrored the operating income pattern, including a temporary dip in 2020. The overall trend indicates an improvement in the company's ability to convert revenue into profit over the long term.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Balance Sheet: Assets
Paycom Software Inc., selected items from assets, long-term trends
US$ in thousands
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2022 | 2,764,172) | 3,902,513) |
| Dec 31, 2021 | 2,252,038) | 3,215,145) |
| Dec 31, 2020 | 1,864,605) | 2,607,912) |
| Dec 31, 2019 | 1,871,100) | 2,486,917) |
| Dec 31, 2018 | 1,064,622) | 1,521,926) |
| Dec 31, 2017 | 1,149,862) | 1,355,164) |
| Dec 31, 2016 | 925,583) | 1,078,613) |
| Dec 31, 2015 | 761,138) | 876,773) |
| Dec 31, 2014 | 693,393) | 798,942) |
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).
The balance sheet exhibits a consistent upward trajectory in asset accumulation between 2014 and 2022. Total assets increased from $798,942 thousand in 2014 to $3,902,513 thousand by the end of 2022, reflecting a substantial expansion of the organization's total financial base over the nine-year period.
- Total Asset Growth Trajectory
- A steady growth pattern is evident, characterized by a notable acceleration between 2018 and 2019, where total assets rose from $1,521,926 thousand to $2,486,917 thousand. This period represents a significant inflection point in the scale of the resource base, with the growth trend continuing consistently through 2022.
- Current Asset Analysis
- Current assets followed a general upward trend, rising from $693,393 thousand in 2014 to $2,764,172 thousand in 2022. A marginal contraction occurred in 2018, where values declined to $1,064,622 thousand from the previous year's $1,149,862 thousand, before a sharp recovery in 2019 to $1,871,100 thousand.
- Asset Composition and Liquidity Profile
- A high concentration of liquidity is maintained, as current assets constitute a dominant portion of the total asset base. In 2014, current assets accounted for approximately 86.8% of total assets. Although this proportion experienced volatility—decreasing to approximately 69.7% in 2018—it stabilized to approximately 70.8% by 2022, suggesting a strategic maintenance of highly liquid assets.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Balance Sheet: Liabilities and Stockholders’ Equity
Paycom Software Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in thousands
| Current liabilities | Total liabilities | Long-term debt, including current portion | Stockholders’ equity | |
|---|---|---|---|---|
| Dec 31, 2022 | 2,377,037) | 2,719,906) | 29,000) | 1,182,607) |
| Dec 31, 2021 | 1,990,410) | 2,321,431) | 29,155) | 893,714) |
| Dec 31, 2020 | 1,718,030) | 1,952,269) | 30,894) | 655,643) |
| Dec 31, 2019 | 1,753,522) | 1,960,289) | 32,633) | 526,628) |
| Dec 31, 2018 | 1,028,682) | 1,187,173) | 34,389) | 334,753) |
| Dec 31, 2017 | 1,140,152) | 1,219,762) | 35,302) | 135,402) |
| Dec 31, 2016 | 898,894) | 962,086) | 29,824) | 116,527) |
| Dec 31, 2015 | 727,534) | 778,459) | 25,860) | 98,314) |
| Dec 31, 2014 | 678,772) | 724,804) | 26,978) | 74,138) |
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).
Between 2014 and 2022, a consistent upward trajectory is observed in both total liabilities and stockholders' equity. While total liabilities increased by approximately 274% over the period, stockholders' equity experienced a more substantial expansion, growing by nearly 1,495%. This divergence indicates a significant strengthening of the equity base relative to total obligations.
- Liability Composition and Trends
- Total liabilities rose from 724,804 thousand US dollars in 2014 to 2,719,906 thousand US dollars by 2022. A critical observation is that current liabilities constitute the vast majority of the total liability profile. Current liabilities grew from 678,772 thousand US dollars to 2,377,037 thousand US dollars, suggesting that the increase in obligations is primarily driven by short-term operational requirements or deferred revenues rather than long-term financing.
- Long-Term Debt Analysis
- Long-term debt, including the current portion, remained remarkably stable and represents a negligible fraction of the total liability structure. The balance fluctuated within a narrow range, starting at 26,978 thousand US dollars in 2014 and ending at 29,000 thousand US dollars in 2022. The lack of significant growth in long-term debt, despite the overall expansion of the balance sheet, indicates a strategy of avoiding long-term leverage to fund growth.
- Equity Growth and Capital Structure
- Stockholders' equity demonstrated accelerated growth, particularly after 2017. Equity increased from 135,402 thousand US dollars in 2017 to 1,182,607 thousand US dollars by 2022. This rapid accumulation of equity significantly altered the capital structure, reducing the ratio of total liabilities to stockholders' equity. In 2014, total liabilities were nearly ten times the value of stockholders' equity; by 2022, this ratio decreased to approximately 2.3 to 1, reflecting a substantial improvement in long-term solvency and financial stability.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Cash Flow Statement
Paycom Software Inc., selected items from cash flow statement, long-term trends
US$ in thousands
| 12 months ended: | Net cash provided by operating activities | Net cash (used in) provided by investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Dec 31, 2022 | 365,103) | (23,286) | 254,587) |
| Dec 31, 2021 | 319,362) | (257,670) | 165,724) |
| Dec 31, 2020 | 227,207) | (117,877) | (165,909) |
| Dec 31, 2019 | 224,263) | (219,545) | 650,672) |
| Dec 31, 2018 | 184,817) | 62,620) | (247,796) |
| Dec 31, 2017 | 130,600) | (290,346) | 145,665) |
| Dec 31, 2016 | 98,953) | (205,051) | 115,542) |
| Dec 31, 2015 | 42,972) | (52,324) | 34,922) |
| Dec 31, 2014 | 22,337) | (219,050) | 208,495) |
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).
The cash flow profile exhibits a consistent and significant expansion in operational efficiency and liquidity generation over the nine-year period analyzed. The most prominent trend is the sustained growth in operating cash flows, which indicates a scalable business model capable of generating increasing amounts of cash from its core activities.
- Operating Cash Flow Trends
- Net cash provided by operating activities demonstrates a continuous upward trajectory, growing from 22,337 thousand US dollars in 2014 to 365,103 thousand US dollars in 2022. This represents a substantial increase in the company's ability to fund its own operations and growth internally. The most aggressive growth phases occurred between 2015 and 2019, after which the growth stabilized but remained positive through 2022.
- Investing Activity Patterns
- Investing activities are characterized by periodic significant outflows, typical of a company investing in long-term assets or strategic acquisitions. Substantial outflows were noted in 2014, 2016, 2017, 2019, and 2021. A notable departure from this trend occurred in 2018, where a net cash inflow of 62,620 thousand US dollars was recorded, suggesting the divestment of assets or the realization of investment gains. By 2022, investing outflows decreased significantly to 23,286 thousand US dollars, indicating a period of reduced capital expenditure.
- Financing Activity Volatility
- Financing activities show high variability, alternating between significant inflows and outflows. Positive cash flows from financing were prevalent in the early years and spiked dramatically in 2019 to 650,672 thousand US dollars. Conversely, significant cash outflows were observed in 2018 and 2020, likely representing debt repayments or shareholder distributions. The return to positive financing cash flows in 2021 and 2022 suggests a strategic move to increase capital reserves or restructure debt.
- Overall Cash Position Synthesis
- The company has transitioned from a reliance on financing and fluctuating investment cycles to a position of strong operational self-sufficiency. The consistent rise in operating cash flows has increasingly offset the periodic volatility in investing and financing activities, strengthening the overall financial stability of the organization.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Per Share Data
Paycom Software Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2022 | 4.86 | 4.84 | 0.00 |
| Dec 31, 2021 | 3.39 | 3.37 | 0.00 |
| Dec 31, 2020 | 2.49 | 2.46 | 0.00 |
| Dec 31, 2019 | 3.14 | 3.09 | 0.00 |
| Dec 31, 2018 | 2.37 | 2.34 | 0.00 |
| Dec 31, 2017 | 1.15 | 1.13 | 0.00 |
| Dec 31, 2016 | 0.76 | 0.74 | 0.00 |
| Dec 31, 2015 | 0.37 | 0.36 | 0.00 |
| Dec 31, 2014 | 0.11 | 0.11 | 0.00 |
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, 2, 3 Data adjusted for splits and stock dividends.
The per share financial data reveals a period of substantial growth in earnings capacity from 2014 through 2022, characterized by a significant upward trajectory in both basic and diluted earnings per share (EPS).
- Earnings Per Share Growth Trends
- Basic earnings per share exhibited consistent and aggressive growth for the first six years of the period, rising from 0.11 USD in 2014 to a peak of 3.14 USD in 2019. A temporary contraction occurred in 2020, where basic EPS declined to 2.49 USD. However, a strong recovery followed, with earnings accelerating to 3.39 USD in 2021 and reaching 4.86 USD by 2022. This represents an overall increase of approximately 4,318% over the nine-year timeframe.
- Dilution Impact
- The variance between basic and diluted earnings per share remained minimal throughout the entire period. In 2022, for instance, the difference was only 0.02 USD. This narrow gap suggests that the impact of dilutive securities, such as stock options or convertible instruments, has been negligible relative to the total earnings generated.
- Dividend Policy
- No dividend payments per share were recorded between 2014 and 2022. The absence of distributions indicates a corporate strategy focused on the retention of earnings to fund internal growth, reinvestment, or other capital allocation priorities rather than returning capital to shareholders via dividends.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?