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Side-by-side financial comparison of Axos Financial, Inc. (AX) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
Axos Financial, Inc. is the larger business by last-quarter revenue ($392.2M vs $387.0M, roughly 1.0× Paylocity Holding Corp). Axos Financial, Inc. runs the higher net margin — 31.8% vs 13.0%, a 18.8% gap on every dollar of revenue. Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (16.1% CAGR vs 2.7%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
AX vs PCTY — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $392.2M | $387.0M |
| Net Profit | $124.7M | $50.2M |
| Gross Margin | — | 72.9% |
| Operating Margin | — | 18.2% |
| Net Margin | 31.8% | 13.0% |
| Revenue YoY | — | 11.3% |
| Net Profit YoY | 18.5% | 34.0% |
| EPS (diluted) | $2.15 | $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.
| Q1 26 | $392.2M | — | ||
| Q4 25 | $385.1M | $387.0M | ||
| Q3 25 | $323.4M | $378.9M | ||
| Q2 25 | $321.4M | $369.9M | ||
| Q1 25 | $308.8M | $421.1M | ||
| Q4 24 | $307.9M | $347.7M | ||
| Q3 24 | $320.7M | $333.1M | ||
| Q2 24 | $290.9M | $324.7M |
| Q1 26 | $124.7M | — | ||
| Q4 25 | $128.4M | $50.2M | ||
| Q3 25 | $112.4M | $48.0M | ||
| Q2 25 | $110.7M | $48.6M | ||
| Q1 25 | $105.2M | $91.5M | ||
| Q4 24 | $104.7M | $37.5M | ||
| Q3 24 | $112.3M | $49.6M | ||
| Q2 24 | $104.9M | $48.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 45.6% | 18.2% | ||
| Q3 25 | 46.3% | 19.6% | ||
| Q2 25 | 48.5% | 17.9% | ||
| Q1 25 | 47.9% | 30.2% | ||
| Q4 24 | 48.8% | 13.4% | ||
| Q3 24 | 49.6% | 19.3% | ||
| Q2 24 | 49.6% | 19.4% |
| Q1 26 | 31.8% | — | ||
| Q4 25 | 33.3% | 13.0% | ||
| Q3 25 | 34.7% | 12.7% | ||
| Q2 25 | 34.4% | 13.1% | ||
| Q1 25 | 34.1% | 21.7% | ||
| Q4 24 | 34.0% | 10.8% | ||
| Q3 24 | 35.0% | 14.9% | ||
| Q2 24 | 36.0% | 15.0% |
| Q1 26 | $2.15 | — | ||
| Q4 25 | $2.22 | $0.92 | ||
| Q3 25 | $1.94 | $0.86 | ||
| Q2 25 | $1.89 | $0.87 | ||
| Q1 25 | $1.81 | $1.61 | ||
| Q4 24 | $1.80 | $0.66 | ||
| Q3 24 | $1.93 | $0.88 | ||
| Q2 24 | $1.75 | $0.85 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $162.5M |
| Total DebtLower is stronger | — | $81.3M |
| Stockholders' EquityBook value | $3.1B | $1.1B |
| Total Assets | $29.2B | $7.0B |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $162.5M | ||
| Q3 25 | $2.6B | $165.2M | ||
| Q2 25 | $1.9B | $398.1M | ||
| Q1 25 | $2.0B | $477.8M | ||
| Q4 24 | $2.4B | $482.4M | ||
| Q3 24 | $2.6B | $778.5M | ||
| Q2 24 | $2.0B | $401.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $81.3M | ||
| Q3 25 | — | $81.3M | ||
| Q2 25 | $312.7M | $162.5M | ||
| Q1 25 | $377.4M | $243.8M | ||
| Q4 24 | $358.7M | $325.0M | ||
| Q3 24 | $313.5M | $325.0M | ||
| Q2 24 | $325.7M | $0 |
| Q1 26 | $3.1B | — | ||
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $2.8B | $1.1B | ||
| Q2 25 | $2.7B | $1.2B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.5B | $1.2B | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $2.3B | $1.0B |
| Q1 26 | $29.2B | — | ||
| Q4 25 | $28.2B | $7.0B | ||
| Q3 25 | $27.4B | $4.2B | ||
| Q2 25 | $24.8B | $4.4B | ||
| Q1 25 | $24.0B | $5.2B | ||
| Q4 24 | $23.7B | $5.3B | ||
| Q3 24 | $23.6B | $4.0B | ||
| Q2 24 | $22.9B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | 0.12× | 0.13× | ||
| Q1 25 | 0.14× | 0.20× | ||
| Q4 24 | 0.14× | 0.28× | ||
| Q3 24 | 0.13× | 0.29× | ||
| Q2 24 | 0.14× | 0.00× |
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 | — | $117.0M |
| Free Cash FlowOCF − Capex | — | $113.6M |
| FCF MarginFCF / Revenue | — | 29.4% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | — | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $117.0M | ||
| Q3 25 | $118.4M | $86.5M | ||
| Q2 25 | $490.3M | $86.6M | ||
| Q1 25 | $73.7M | $186.0M | ||
| Q4 24 | $162.5M | $54.2M | ||
| Q3 24 | $70.8M | $91.5M | ||
| Q2 24 | $305.5M | $79.9M |
| Q1 26 | — | — | ||
| Q4 25 | $85.4M | $113.6M | ||
| Q3 25 | $109.3M | $82.7M | ||
| Q2 25 | $436.1M | $81.1M | ||
| Q1 25 | $65.1M | $183.7M | ||
| Q4 24 | $156.4M | $51.2M | ||
| Q3 24 | $53.0M | $89.1M | ||
| Q2 24 | $269.5M | $73.6M |
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | 29.4% | ||
| Q3 25 | 33.8% | 21.8% | ||
| Q2 25 | 135.7% | 21.9% | ||
| Q1 25 | 21.1% | 43.6% | ||
| Q4 24 | 50.8% | 14.7% | ||
| Q3 24 | 16.5% | 26.8% | ||
| Q2 24 | 92.6% | 22.7% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 0.9% | ||
| Q3 25 | 2.8% | 1.0% | ||
| Q2 25 | 16.9% | 1.5% | ||
| Q1 25 | 2.8% | 0.5% | ||
| Q4 24 | 2.0% | 0.9% | ||
| Q3 24 | 5.5% | 0.7% | ||
| Q2 24 | 12.4% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | 2.33× | ||
| Q3 25 | 1.05× | 1.80× | ||
| Q2 25 | 4.43× | 1.78× | ||
| Q1 25 | 0.70× | 2.03× | ||
| Q4 24 | 1.55× | 1.45× | ||
| Q3 24 | 0.63× | 1.84× | ||
| Q2 24 | 2.91× | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
