Paycom Software, Inc. vs Workday, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsHR Tech
Data as of Q2 2026
Summary Verdict
PAYC: 2—WDAY: 3wins
Rule of 40
36.1PAYC
37.2WDAY
check_circleWDAY leads
Revenue Growth
10.4%PAYC
18.1%WDAY
check_circleWDAY leads
Gross Margin
83%PAYC
98%WDAY
check_circleWDAY leads
FCF Margin
25.7%PAYC
19.2%WDAY
check_circlePAYC leads
Operating Margin
29.0%PAYC
11.6%WDAY
check_circlePAYC leads
NRR
—PAYC
—WDAY
Metric
Rule of 40Efficiency score
PAYC
36.1
WDAY
37.2check_circle
Revenue GrowthYoY
PAYC
10.4%
WDAY
18.1%check_circle
Gross Margin% of revenue
PAYC
83%
WDAY
98%check_circle
FCF MarginFree cash flow
PAYC
25.7%check_circle
WDAY
19.2%
Operating MarginGAAP
PAYC
29.0%check_circle
WDAY
11.6%
NRRNet retention
PAYC
N/A
WDAY
N/A
EV / RevenueValuation multiple
PAYC
5.0xcheck_circle
WDAY
5.5x
Market CapUSD
PAYC
$10.8B
WDAY
$53.6Bcheck_circle
ARR GrowthYoY
PAYC
N/A
WDAY
N/A
CAC PaybackMonths to recover
PAYC
N/A
WDAY
N/A
insights
Analysis
As of Q2 2026, Paycom Software, Inc. trades at 5.0x EV/Revenue versus Workday, Inc. at 5.5x. On the Rule of 40, Paycom Software, Inc. scores 36.1 compared to Workday, Inc.'s 37.2, placing Workday, Inc. ahead in operating efficiency. Gross margins stand at Paycom Software, Inc. 83% vs Workday, Inc. 98%.
Sector Context
Both companies operate in the HR Tech sector. The median columns above show where each company stands relative to their peers.