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Side-by-side financial comparison of American Homes 4 Rent (AMH) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
American Homes 4 Rent is the larger business by last-quarter revenue ($455.0M vs $387.0M, roughly 1.2× Paylocity Holding Corp). American Homes 4 Rent runs the higher net margin — 31.7% vs 13.0%, a 18.7% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $113.6M). Over the past eight quarters, American Homes 4 Rent's revenue compounded faster (3.6% CAGR vs 2.7%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
AMH vs PCTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $387.0M |
| Net Profit | $144.3M | $50.2M |
| Gross Margin | — | 72.9% |
| Operating Margin | — | 18.2% |
| Net Margin | 31.7% | 13.0% |
| Revenue YoY | 4.2% | 11.3% |
| Net Profit YoY | 0.3% | 34.0% |
| EPS (diluted) | $0.33 | $0.92 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $455.0M | $387.0M | ||
| Q3 25 | $478.5M | $378.9M | ||
| Q2 25 | $457.5M | $369.9M | ||
| Q1 25 | $459.3M | $421.1M | ||
| Q4 24 | $436.6M | $347.7M | ||
| Q3 24 | $445.1M | $333.1M | ||
| Q2 24 | $423.5M | $324.7M | ||
| Q1 24 | $423.6M | $366.8M |
| Q4 25 | $144.3M | $50.2M | ||
| Q3 25 | $116.8M | $48.0M | ||
| Q2 25 | $123.6M | $48.6M | ||
| Q1 25 | $128.7M | $91.5M | ||
| Q4 24 | $143.9M | $37.5M | ||
| Q3 24 | $87.6M | $49.6M | ||
| Q2 24 | $108.5M | $48.8M | ||
| Q1 24 | $128.1M | $85.3M |
| Q4 25 | — | 72.9% | ||
| Q3 25 | — | 73.9% | ||
| Q2 25 | — | 73.5% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 72.6% | ||
| Q3 24 | — | 74.4% | ||
| Q2 24 | — | 74.0% | ||
| Q1 24 | — | 77.8% |
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | 30.2% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 19.3% | ||
| Q2 24 | — | 19.4% | ||
| Q1 24 | — | 29.0% |
| Q4 25 | 31.7% | 13.0% | ||
| Q3 25 | 24.4% | 12.7% | ||
| Q2 25 | 27.0% | 13.1% | ||
| Q1 25 | 28.0% | 21.7% | ||
| Q4 24 | 33.0% | 10.8% | ||
| Q3 24 | 19.7% | 14.9% | ||
| Q2 24 | 25.6% | 15.0% | ||
| Q1 24 | 30.2% | 23.3% |
| Q4 25 | $0.33 | $0.92 | ||
| Q3 25 | $0.27 | $0.86 | ||
| Q2 25 | $0.28 | $0.87 | ||
| Q1 25 | $0.30 | $1.61 | ||
| Q4 24 | $0.33 | $0.66 | ||
| Q3 24 | $0.20 | $0.88 | ||
| Q2 24 | $0.25 | $0.85 | ||
| Q1 24 | $0.30 | $1.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $162.5M |
| Total DebtLower is stronger | $5.1B | $81.3M |
| Stockholders' EquityBook value | $7.0B | $1.1B |
| Total Assets | $13.2B | $7.0B |
| Debt / EquityLower = less leverage | 0.72× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $162.5M | ||
| Q3 25 | $45.6M | $165.2M | ||
| Q2 25 | $323.3M | $398.1M | ||
| Q1 25 | $69.7M | $477.8M | ||
| Q4 24 | $199.4M | $482.4M | ||
| Q3 24 | $162.5M | $778.5M | ||
| Q2 24 | $718.4M | $401.8M | ||
| Q1 24 | $124.8M | $492.7M |
| Q4 25 | $5.1B | $81.3M | ||
| Q3 25 | $4.8B | $81.3M | ||
| Q2 25 | $5.2B | $162.5M | ||
| Q1 25 | $4.9B | $243.8M | ||
| Q4 24 | $5.0B | $325.0M | ||
| Q3 24 | $4.5B | $325.0M | ||
| Q2 24 | $5.0B | $0 | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $7.0B | $1.1B | ||
| Q3 25 | $7.2B | $1.1B | ||
| Q2 25 | $7.2B | $1.2B | ||
| Q1 25 | $7.2B | $1.2B | ||
| Q4 24 | $7.2B | $1.2B | ||
| Q3 24 | $7.0B | $1.1B | ||
| Q2 24 | $7.0B | $1.0B | ||
| Q1 24 | $7.0B | $1.1B |
| Q4 25 | $13.2B | $7.0B | ||
| Q3 25 | $13.3B | $4.2B | ||
| Q2 25 | $13.6B | $4.4B | ||
| Q1 25 | $13.3B | $5.2B | ||
| Q4 24 | $13.4B | $5.3B | ||
| Q3 24 | $12.8B | $4.0B | ||
| Q2 24 | $13.3B | $4.2B | ||
| Q1 24 | $12.8B | $5.0B |
| Q4 25 | 0.72× | 0.07× | ||
| Q3 25 | 0.68× | 0.07× | ||
| Q2 25 | 0.72× | 0.13× | ||
| Q1 25 | 0.69× | 0.20× | ||
| Q4 24 | 0.70× | 0.28× | ||
| Q3 24 | 0.64× | 0.29× | ||
| Q2 24 | 0.71× | 0.00× | ||
| Q1 24 | 0.64× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $864.3M | $117.0M |
| Free Cash FlowOCF − Capex | $823.7M | $113.6M |
| FCF MarginFCF / Revenue | 181.0% | 29.4% |
| Capex IntensityCapex / Revenue | 8.9% | 0.9% |
| Cash ConversionOCF / Net Profit | 5.99× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $117.0M | ||
| Q3 25 | $223.3M | $86.5M | ||
| Q2 25 | $271.9M | $86.6M | ||
| Q1 25 | $223.4M | $186.0M | ||
| Q4 24 | $811.5M | $54.2M | ||
| Q3 24 | $233.6M | $91.5M | ||
| Q2 24 | $274.0M | $79.9M | ||
| Q1 24 | $201.8M | $167.5M |
| Q4 25 | $823.7M | $113.6M | ||
| Q3 25 | $214.5M | $82.7M | ||
| Q2 25 | $257.7M | $81.1M | ||
| Q1 25 | $215.9M | $183.7M | ||
| Q4 24 | $777.5M | $51.2M | ||
| Q3 24 | $225.3M | $89.1M | ||
| Q2 24 | $263.3M | $73.6M | ||
| Q1 24 | $191.0M | $162.0M |
| Q4 25 | 181.0% | 29.4% | ||
| Q3 25 | 44.8% | 21.8% | ||
| Q2 25 | 56.3% | 21.9% | ||
| Q1 25 | 47.0% | 43.6% | ||
| Q4 24 | 178.1% | 14.7% | ||
| Q3 24 | 50.6% | 26.8% | ||
| Q2 24 | 62.2% | 22.7% | ||
| Q1 24 | 45.1% | 44.2% |
| Q4 25 | 8.9% | 0.9% | ||
| Q3 25 | 1.8% | 1.0% | ||
| Q2 25 | 3.1% | 1.5% | ||
| Q1 25 | 1.6% | 0.5% | ||
| Q4 24 | 7.8% | 0.9% | ||
| Q3 24 | 1.9% | 0.7% | ||
| Q2 24 | 2.5% | 1.9% | ||
| Q1 24 | 2.6% | 1.5% |
| Q4 25 | 5.99× | 2.33× | ||
| Q3 25 | 1.91× | 1.80× | ||
| Q2 25 | 2.20× | 1.78× | ||
| Q1 25 | 1.74× | 2.03× | ||
| Q4 24 | 5.64× | 1.45× | ||
| Q3 24 | 2.67× | 1.84× | ||
| Q2 24 | 2.52× | 1.64× | ||
| Q1 24 | 1.58× | 1.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
