Paycom Software, Inc. (PAYC) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
7501 W. MEMORIAL ROAD OKLAHOMA CITY, OK 73142 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7372 - Prepackaged Software (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 400,730 | 277,978 | 151,710 | 133,667 | 45,718 | 46,077 | |||
| Cash and cash equivalents | 400,730 | 277,978 | 151,710 | 133,667 | 45,718 | 46,077 | |||
| Receivables | 28,426 | 25,903 | 19,577 | 13,318 | 7,376 | 8,623 | |||
| Inventory, net of allowances, customer advances and progress billings | 1,607 | 1,131 | 1,151 | 1,158 | 797 | 979 | |||
| Inventory | 1,607 | 1,131 | 1,151 | 1,158 | 797 | 979 | |||
| Prepaid expense | 34,056 | 23,729 | 17,854 | 13,561 | 7,658 | 4,982 | |||
| Deferred costs | 96,378 | 76,724 | 60,819 | 46,618 | 35,286 | ||||
| Funds held for clients | 2,202,975 | 1,846,573 | 1,613,494 | 1,662,778 | 967,787 | 1,089,201 | |||
| Total current assets: | 2,764,172 | 2,252,038 | 1,864,605 | 1,871,100 | 1,064,622 | 1,149,862 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 39,776 | 29,841 | 27,100 | ✕ | ✕ | ||||
| Property, plant and equipment | 402,448 | 348,953 | 285,218 | 238,458 | 176,962 | 147,705 | |||
| Intangible assets, net (including goodwill) | 105,906 | 109,917 | 52,208 | 52,421 | 52,634 | 52,847 | |||
| Goodwill | 51,889 | 51,889 | 51,889 | 51,889 | 51,889 | 51,889 | |||
| Intangible assets, net (excluding goodwill) | 54,017 | 58,028 | 319 | 532 | 745 | 958 | |||
| Deposits noncurrent assets | 2,249 | 1,456 | |||||||
| Other noncurrent assets | 62,013 | 42,385 | 34,843 | 33,336 | |||||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | 3,294 | |||
| Other undisclosed noncurrent assets | 528,198 | 432,011 | 371,038 | 264,502 | 225,459 | ||||
| Total noncurrent assets: | 1,138,341 | 963,107 | 743,307 | 615,817 | 457,304 | 205,302 | |||
| TOTAL ASSETS: | 3,902,513 | 3,215,145 | 2,607,912 | 2,486,917 | 1,521,926 | 1,355,164 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 16,054 | 5,772 | 6,787 | 5,051 | 17,029 | 13,505 | |||
| Employee-related liabilities | ✕ | ✕ | 10,741 | 7,015 | |||||
| Accounts payable | 16,054 | 5,772 | 6,787 | 5,051 | 6,288 | 6,490 | |||
| Deferred revenue | 19,825 | 16,277 | 13,567 | 11,105 | ✕ | ✕ | |||
| Debt | 1,775 | 1,775 | 12,075 | 1,775 | 888 | ||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 6,982 | ||
| Other undisclosed current liabilities | 2,341,158 | 1,966,586 | 1,695,901 | 1,725,291 | 1,009,878 | 1,118,777 | |||
| Total current liabilities: | 2,377,037 | 1,990,410 | 1,718,030 | 1,753,522 | 1,028,682 | 1,140,152 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 29,000 | 27,380 | 29,119 | 49,258 | 32,614 | 34,414 | |||
| Long-term debt, excluding current maturities | 29,000 | 27,380 | 29,119 | 30,858 | 32,614 | 34,414 | |||
| Liabilities, other than long-term debt | 313,869 | 303,641 | 205,120 | 84,692 | 70,206 | 45,196 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 44,642 | ||
| Deferred revenue | 97,591 | 85,149 | 73,259 | 65,139 | ✕ | ✕ | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 70,206 | |||
| Deferred income tax liabilities | 141,033 | 145,504 | 112,598 | ✕ | ✕ | ||||
| Other liabilities | 75,245 | 72,988 | 19,263 | 19,553 | |||||
| Operating lease, liability | 18,400 | ✕ | ✕ | ||||||
| Derivative instruments and hedges, liabilities | 554 | ||||||||
| Other undisclosed noncurrent liabilities | 72,817 | 55,671 | |||||||
| Total noncurrent liabilities: | 342,869 | 331,021 | 234,239 | 206,767 | 158,491 | 79,610 | |||
| Total liabilities: | 2,719,906 | 2,321,431 | 1,952,269 | 1,960,289 | 1,187,173 | 1,219,762 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,182,607 | 893,714 | 655,643 | 526,628 | 334,753 | 135,402 | |||
| Common stock | 625 | 623 | 618 | 613 | 607 | 601 | |||
| Treasury stock, value | (587,905) | (488,082) | (422,502) | (307,652) | (265,124) | (139,688) | |||
| Additional paid in capital | 576,622 | 465,594 | 357,908 | 257,501 | 203,680 | 137,234 | |||
| Accumulated other comprehensive loss | (3,703) | ||||||||
| Retained earnings | 1,196,968 | 915,579 | 719,619 | 576,166 | 395,590 | 137,255 | |||
| Total equity: | 1,182,607 | 893,714 | 655,643 | 526,628 | 334,753 | 135,402 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,902,513 | 3,215,145 | 2,607,912 | 2,486,917 | 1,521,926 | 1,355,164 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,375,218 | 1,055,524 | 841,434 | 737,671 | 566,336 | 433,047 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 433,047 | |
| Cost of revenue (Cost of Goods and Services Sold) | (212,741) | (161,886) | (123,546) | (109,747) | (90,763) | (72,028) | ||
| Gross profit: | 1,162,477 | 893,638 | 717,888 | 627,924 | 475,573 | 361,019 | ||
| Operating expenses | (783,798) | (640,071) | (531,765) | (401,700) | (301,858) | (282,394) | ||
| Operating income: | 378,679 | 253,567 | 186,123 | 226,224 | 173,715 | 78,625 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | 13,435 | 2,395 | (168) | 803 | 1,762 | (1,067) | ||
| Interest and debt expense | (3,400) | (1,400) | (1,500) | (940) | (766) | (911) | ||
| Income from continuing operations before equity method investments, income taxes: | 388,714 | 254,562 | 184,455 | 226,087 | 174,711 | 76,647 | ||
| Other undisclosed income from continuing operations before income taxes | 864 | 1,400 | 1,481 | |||||
| Income from continuing operations before income taxes: | 389,578 | 255,962 | 185,936 | 226,087 | 174,711 | 76,647 | ||
| Income tax expense | (108,189) | (60,002) | (42,483) | (45,511) | (37,646) | (9,840) | ||
| Income from continuing operations: | 281,389 | 195,960 | 143,453 | 180,576 | 137,065 | 66,807 | ||
| Income before gain (loss) on sale of properties: | ✕ | 195,960 | 143,453 | 180,576 | 137,065 | 66,807 | ||
| Net income attributable to parent: | 281,389 | 195,960 | 143,453 | 180,576 | 137,065 | 66,807 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (81) | (159) | (171) | |||||
| Net income available to common stockholders, basic: | 281,389 | 195,960 | 143,453 | 180,495 | 136,906 | 66,636 | ||
| Other undisclosed net income available to common stockholders, diluted | 1 | 3 | 3 | |||||
| Net income available to common stockholders, diluted: | 281,389 | 195,960 | 143,453 | 180,496 | 136,909 | 66,639 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 281,389 | 195,960 | 143,453 | 180,576 | 137,065 | 66,807 | ||
| Other comprehensive loss | (3,703) | |||||||
| Comprehensive income, net of tax, attributable to parent: | 277,686 | 195,960 | 143,453 | 180,576 | 137,065 | 66,807 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.