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Side-by-side financial comparison of AvalonBay Communities (AVB) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
AvalonBay Communities is the larger business by last-quarter revenue ($767.9M vs $387.0M, roughly 2.0× Paylocity Holding Corp). AvalonBay Communities runs the higher net margin — 9040.6% vs 13.0%, a 9027.6% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs 3.7%). AvalonBay Communities produced more free cash flow last quarter ($1.4B vs $113.6M). Over the past eight quarters, AvalonBay Communities's revenue compounded faster (3.8% CAGR vs 2.7%).
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
AVB vs PCTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $767.9M | $387.0M |
| Net Profit | $166.0M | $50.2M |
| Gross Margin | — | 72.9% |
| Operating Margin | 64.2% | 18.2% |
| Net Margin | 9040.6% | 13.0% |
| Revenue YoY | 3.7% | 11.3% |
| Net Profit YoY | -41.2% | 34.0% |
| EPS (diluted) | $1.18 | $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 | $767.9M | $387.0M | ||
| Q3 25 | $766.8M | $378.9M | ||
| Q2 25 | $760.2M | $369.9M | ||
| Q1 25 | $745.9M | $421.1M | ||
| Q4 24 | $740.5M | $347.7M | ||
| Q3 24 | $734.3M | $333.1M | ||
| Q2 24 | $726.0M | $324.7M | ||
| Q1 24 | $712.9M | $366.8M |
| Q4 25 | $166.0M | $50.2M | ||
| Q3 25 | $381.3M | $48.0M | ||
| Q2 25 | $268.7M | $48.6M | ||
| Q1 25 | $236.6M | $91.5M | ||
| Q4 24 | $282.1M | $37.5M | ||
| Q3 24 | $372.5M | $49.6M | ||
| Q2 24 | $253.9M | $48.8M | ||
| Q1 24 | $173.4M | $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 | 64.2% | 18.2% | ||
| Q3 25 | 65.7% | 19.6% | ||
| Q2 25 | 67.6% | 17.9% | ||
| Q1 25 | 68.5% | 30.2% | ||
| Q4 24 | 63.1% | 13.4% | ||
| Q3 24 | 65.4% | 19.3% | ||
| Q2 24 | 66.6% | 19.4% | ||
| Q1 24 | 67.2% | 29.0% |
| Q4 25 | 9040.6% | 13.0% | ||
| Q3 25 | 49.7% | 12.7% | ||
| Q2 25 | 35.3% | 13.1% | ||
| Q1 25 | 31.7% | 21.7% | ||
| Q4 24 | 38.1% | 10.8% | ||
| Q3 24 | 50.7% | 14.9% | ||
| Q2 24 | 35.0% | 15.0% | ||
| Q1 24 | 24.3% | 23.3% |
| Q4 25 | $1.18 | $0.92 | ||
| Q3 25 | $2.68 | $0.86 | ||
| Q2 25 | $1.88 | $0.87 | ||
| Q1 25 | $1.66 | $1.61 | ||
| Q4 24 | $1.99 | $0.66 | ||
| Q3 24 | $2.61 | $0.88 | ||
| Q2 24 | $1.78 | $0.85 | ||
| Q1 24 | $1.22 | $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 | $187.2M | $162.5M |
| Total DebtLower is stronger | $9.3B | $81.3M |
| Stockholders' EquityBook value | $11.6B | $1.1B |
| Total Assets | $22.2B | $7.0B |
| Debt / EquityLower = less leverage | 0.80× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $162.5M | ||
| Q3 25 | $123.3M | $165.2M | ||
| Q2 25 | $102.8M | $398.1M | ||
| Q1 25 | $53.3M | $477.8M | ||
| Q4 24 | $108.6M | $482.4M | ||
| Q3 24 | $552.4M | $778.5M | ||
| Q2 24 | $545.8M | $401.8M | ||
| Q1 24 | $287.9M | $492.7M |
| Q4 25 | $9.3B | $81.3M | ||
| Q3 25 | $8.7B | $81.3M | ||
| Q2 25 | $8.7B | $162.5M | ||
| Q1 25 | $8.3B | $243.8M | ||
| Q4 24 | $8.1B | $325.0M | ||
| Q3 24 | $8.4B | $325.0M | ||
| Q2 24 | $8.4B | $0 | ||
| Q1 24 | $8.0B | — |
| Q4 25 | $11.6B | $1.1B | ||
| Q3 25 | $11.9B | $1.1B | ||
| Q2 25 | $11.9B | $1.2B | ||
| Q1 25 | $11.9B | $1.2B | ||
| Q4 24 | $11.9B | $1.2B | ||
| Q3 24 | $11.9B | $1.1B | ||
| Q2 24 | $11.7B | $1.0B | ||
| Q1 24 | $11.7B | $1.1B |
| Q4 25 | $22.2B | $7.0B | ||
| Q3 25 | $21.9B | $4.2B | ||
| Q2 25 | $21.8B | $4.4B | ||
| Q1 25 | $21.2B | $5.2B | ||
| Q4 24 | $21.0B | $5.3B | ||
| Q3 24 | $21.3B | $4.0B | ||
| Q2 24 | $21.0B | $4.2B | ||
| Q1 24 | $20.6B | $5.0B |
| Q4 25 | 0.80× | 0.07× | ||
| Q3 25 | 0.73× | 0.07× | ||
| Q2 25 | 0.72× | 0.13× | ||
| Q1 25 | 0.70× | 0.20× | ||
| Q4 24 | 0.68× | 0.28× | ||
| Q3 24 | 0.70× | 0.29× | ||
| Q2 24 | 0.71× | 0.00× | ||
| Q1 24 | 0.68× | — |
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 | $1.7B | $117.0M |
| Free Cash FlowOCF − Capex | $1.4B | $113.6M |
| FCF MarginFCF / Revenue | 183.5% | 29.4% |
| Capex IntensityCapex / Revenue | 34.1% | 0.9% |
| Cash ConversionOCF / Net Profit | 10.07× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $117.0M | ||
| Q3 25 | $477.0M | $86.5M | ||
| Q2 25 | $377.8M | $86.6M | ||
| Q1 25 | $415.9M | $186.0M | ||
| Q4 24 | $1.6B | $54.2M | ||
| Q3 24 | $486.2M | $91.5M | ||
| Q2 24 | $380.0M | $79.9M | ||
| Q1 24 | $412.9M | $167.5M |
| Q4 25 | $1.4B | $113.6M | ||
| Q3 25 | $402.2M | $82.7M | ||
| Q2 25 | $317.1M | $81.1M | ||
| Q1 25 | $367.5M | $183.7M | ||
| Q4 24 | $1.4B | $51.2M | ||
| Q3 24 | $434.2M | $89.1M | ||
| Q2 24 | $333.0M | $73.6M | ||
| Q1 24 | $375.4M | $162.0M |
| Q4 25 | 183.5% | 29.4% | ||
| Q3 25 | 52.5% | 21.8% | ||
| Q2 25 | 41.7% | 21.9% | ||
| Q1 25 | 49.3% | 43.6% | ||
| Q4 24 | 191.0% | 14.7% | ||
| Q3 24 | 59.1% | 26.8% | ||
| Q2 24 | 45.9% | 22.7% | ||
| Q1 24 | 52.7% | 44.2% |
| Q4 25 | 34.1% | 0.9% | ||
| Q3 25 | 9.8% | 1.0% | ||
| Q2 25 | 8.0% | 1.5% | ||
| Q1 25 | 6.5% | 0.5% | ||
| Q4 24 | 26.1% | 0.9% | ||
| Q3 24 | 7.1% | 0.7% | ||
| Q2 24 | 6.5% | 1.9% | ||
| Q1 24 | 5.3% | 1.5% |
| Q4 25 | 10.07× | 2.33× | ||
| Q3 25 | 1.25× | 1.80× | ||
| Q2 25 | 1.41× | 1.78× | ||
| Q1 25 | 1.76× | 2.03× | ||
| Q4 24 | 5.70× | 1.45× | ||
| Q3 24 | 1.31× | 1.84× | ||
| Q2 24 | 1.50× | 1.64× | ||
| Q1 24 | 2.38× | 1.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVB
Segment breakdown not available.
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
