PAYC: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	2.05bn	1.88bn
Cost of revenue	345m	335m
Research and development	283m	243m
Selling, general and administrative	1.14bn	914m
Operating expenses	1.48bn	1.25bn
Operating income	567m	634m
Interest expense	3m	3m
Pre-tax income	619m	649m
Income tax	166m	147m
Net income	453m	502m
Earnings per share	8.13	8.93
Earnings per share, diluted	8.08	8.92
Weighted average shares	56m	56m
Weighted average shares, diluted	56m	56m

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	154m	370m	375m	532m	521m	402m	326m	347m
Receivables	51m	45m	50m	40m	31m	39m	21m	20m
Inventory	2m	2m	2m	2m	1m	1m	1m	1m
Current assets	3.07bn	5.84bn	2.54bn	2.40bn	2.99bn	4.30bn	1.98bn	2.85bn
Property, plant and equipment	—	—	—	—	—	—	—	532m
Goodwill	52m	52m	52m	52m	52m	52m	52m	52m
Total assets	4.82bn	7.60bn	4.25bn	4.03bn	4.57bn	5.86bn	3.49bn	4.31bn
Current liabilities	2.84bn	5.37bn	2.08bn	1.85bn	2.48bn	3.91bn	1.66bn	2.53bn
Long-term debt	675m	—	—	—	—	—	—	—
Total liabilities	4.01bn	5.87bn	2.54bn	2.23bn	2.86bn	4.28bn	2.03bn	2.89bn
Equity	812m	1.73bn	1.71bn	1.80bn	1.72bn	1.58bn	1.46bn	1.43bn
Shares outstanding	47m	55m	55m	56m	56m	56m	56m	56m
Shares issued	64m	64m	64m	64m	63m	63m	63m	63m
Treasury shares	17m	9m	8m	7m	7m	7m	7m	7m

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	679m	534m
Depreciation and amortisation	176m	146m
Share-based compensation	119m	−23m
Capital expenditure	271m	193m
Investing cash flow	−611m	−22m
Dividends paid	85m	85m
Share buybacks	326m	123m
Financing cash flow	1.02bn	1.11bn