Paychex, Inc. vs Paylocity Holding Corporation
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsHR Tech
Data as of Q3 2026
Summary Verdict
PAYX: 4—PCTY: 1wins
Rule of 40
51.5PAYX
27.3PCTY
check_circlePAYX leads
Revenue Growth
17.0%PAYX
12.6%PCTY
check_circlePAYX leads
Gross Margin
73%PAYX
75%PCTY
check_circlePCTY leads
FCF Margin
34.5%PAYX
14.7%PCTY
check_circlePAYX leads
Operating Margin
39.9%PAYX
25.9%PCTY
check_circlePAYX leads
NRR
—PAYX
—PCTY
Metric
Rule of 40Efficiency score
PAYX
51.5check_circle
PCTY
27.3
Revenue GrowthYoY
PAYX
17.0%check_circle
PCTY
12.6%
Gross Margin% of revenue
PAYX
73%
PCTY
75%check_circle
FCF MarginFree cash flow
PAYX
34.5%check_circle
PCTY
14.7%
Operating MarginGAAP
PAYX
39.9%check_circle
PCTY
25.9%
NRRNet retention
PAYX
N/A
PCTY
N/A
EV / RevenueValuation multiple
PAYX
6.8x
PCTY
5.2xcheck_circle
Market CapUSD
PAYX
$39.7Bcheck_circle
PCTY
$8.8B
ARR GrowthYoY
PAYX
N/A
PCTY
N/A
CAC PaybackMonths to recover
PAYX
N/A
PCTY
N/A
insights
Analysis
As of Q3 2026, Paychex, Inc. trades at 6.8x EV/Revenue versus Paylocity Holding Corporation at 5.2x. On the Rule of 40, Paychex, Inc. scores 51.5 compared to Paylocity Holding Corporation's 27.3, placing Paychex, Inc. ahead in operating efficiency. Gross margins stand at Paychex, Inc. 73% vs Paylocity Holding Corporation 75%.
Sector Context
Both companies operate in the HR Tech sector. The median columns above show where each company stands relative to their peers.