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Side-by-side financial comparison of BELDEN INC. (BDC) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($720.1M vs $387.0M, roughly 1.9× Paylocity Holding Corp). Paylocity Holding Corp runs the higher net margin — 13.0% vs 9.4%, a 3.5% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs 8.1%). BELDEN INC. produced more free cash flow last quarter ($121.3M vs $113.6M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (15.9% CAGR vs 2.7%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
BDC vs PCTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $387.0M |
| Net Profit | $67.9M | $50.2M |
| Gross Margin | 36.6% | 72.9% |
| Operating Margin | 12.2% | 18.2% |
| Net Margin | 9.4% | 13.0% |
| Revenue YoY | 8.1% | 11.3% |
| Net Profit YoY | 16.3% | 34.0% |
| EPS (diluted) | $1.70 | $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 | $720.1M | $387.0M | ||
| Q3 25 | $698.2M | $378.9M | ||
| Q2 25 | $672.0M | $369.9M | ||
| Q1 25 | $624.9M | $421.1M | ||
| Q4 24 | $666.0M | $347.7M | ||
| Q3 24 | $654.9M | $333.1M | ||
| Q2 24 | $604.3M | $324.7M | ||
| Q1 24 | $535.7M | $366.8M |
| Q4 25 | $67.9M | $50.2M | ||
| Q3 25 | $56.7M | $48.0M | ||
| Q2 25 | $61.0M | $48.6M | ||
| Q1 25 | $51.9M | $91.5M | ||
| Q4 24 | $58.4M | $37.5M | ||
| Q3 24 | $53.7M | $49.6M | ||
| Q2 24 | $49.0M | $48.8M | ||
| Q1 24 | $37.3M | $85.3M |
| Q4 25 | 36.6% | 72.9% | ||
| Q3 25 | 37.7% | 73.9% | ||
| Q2 25 | 38.5% | 73.5% | ||
| Q1 25 | 39.3% | 77.1% | ||
| Q4 24 | 37.5% | 72.6% | ||
| Q3 24 | 37.3% | 74.4% | ||
| Q2 24 | 37.5% | 74.0% | ||
| Q1 24 | 37.6% | 77.8% |
| Q4 25 | 12.2% | 18.2% | ||
| Q3 25 | 10.9% | 19.6% | ||
| Q2 25 | 11.8% | 17.9% | ||
| Q1 25 | 11.6% | 30.2% | ||
| Q4 24 | 10.4% | 13.4% | ||
| Q3 24 | 11.5% | 19.3% | ||
| Q2 24 | 11.4% | 19.4% | ||
| Q1 24 | 9.9% | 29.0% |
| Q4 25 | 9.4% | 13.0% | ||
| Q3 25 | 8.1% | 12.7% | ||
| Q2 25 | 9.1% | 13.1% | ||
| Q1 25 | 8.3% | 21.7% | ||
| Q4 24 | 8.8% | 10.8% | ||
| Q3 24 | 8.2% | 14.9% | ||
| Q2 24 | 8.1% | 15.0% | ||
| Q1 24 | 7.0% | 23.3% |
| Q4 25 | $1.70 | $0.92 | ||
| Q3 25 | $1.41 | $0.86 | ||
| Q2 25 | $1.53 | $0.87 | ||
| Q1 25 | $1.27 | $1.61 | ||
| Q4 24 | $1.41 | $0.66 | ||
| Q3 24 | $1.30 | $0.88 | ||
| Q2 24 | $1.19 | $0.85 | ||
| Q1 24 | $0.90 | $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 | $389.9M | $162.5M |
| Total DebtLower is stronger | — | $81.3M |
| Stockholders' EquityBook value | $1.3B | $1.1B |
| Total Assets | $3.5B | $7.0B |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $389.9M | $162.5M | ||
| Q3 25 | $314.3M | $165.2M | ||
| Q2 25 | $301.5M | $398.1M | ||
| Q1 25 | $259.0M | $477.8M | ||
| Q4 24 | $370.3M | $482.4M | ||
| Q3 24 | $323.0M | $778.5M | ||
| Q2 24 | $564.8M | $401.8M | ||
| Q1 24 | $506.8M | $492.7M |
| Q4 25 | — | $81.3M | ||
| Q3 25 | — | $81.3M | ||
| Q2 25 | — | $162.5M | ||
| Q1 25 | — | $243.8M | ||
| Q4 24 | — | $325.0M | ||
| Q3 24 | — | $325.0M | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | — |
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.0B | ||
| Q1 24 | $1.2B | $1.1B |
| Q4 25 | $3.5B | $7.0B | ||
| Q3 25 | $3.4B | $4.2B | ||
| Q2 25 | $3.4B | $4.4B | ||
| Q1 25 | $3.3B | $5.2B | ||
| Q4 24 | $3.3B | $5.3B | ||
| Q3 24 | $3.3B | $4.0B | ||
| Q2 24 | $3.5B | $4.2B | ||
| Q1 24 | $3.1B | $5.0B |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | — |
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 | $160.4M | $117.0M |
| Free Cash FlowOCF − Capex | $121.3M | $113.6M |
| FCF MarginFCF / Revenue | 16.8% | 29.4% |
| Capex IntensityCapex / Revenue | 5.4% | 0.9% |
| Cash ConversionOCF / Net Profit | 2.36× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $218.7M | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $160.4M | $117.0M | ||
| Q3 25 | $105.0M | $86.5M | ||
| Q2 25 | $82.0M | $86.6M | ||
| Q1 25 | $7.4M | $186.0M | ||
| Q4 24 | $174.7M | $54.2M | ||
| Q3 24 | $91.7M | $91.5M | ||
| Q2 24 | $83.0M | $79.9M | ||
| Q1 24 | $2.7M | $167.5M |
| Q4 25 | $121.3M | $113.6M | ||
| Q3 25 | $65.3M | $82.7M | ||
| Q2 25 | $56.9M | $81.1M | ||
| Q1 25 | $-24.8M | $183.7M | ||
| Q4 24 | $116.4M | $51.2M | ||
| Q3 24 | $67.2M | $89.1M | ||
| Q2 24 | $61.0M | $73.6M | ||
| Q1 24 | $-21.5M | $162.0M |
| Q4 25 | 16.8% | 29.4% | ||
| Q3 25 | 9.4% | 21.8% | ||
| Q2 25 | 8.5% | 21.9% | ||
| Q1 25 | -4.0% | 43.6% | ||
| Q4 24 | 17.5% | 14.7% | ||
| Q3 24 | 10.3% | 26.8% | ||
| Q2 24 | 10.1% | 22.7% | ||
| Q1 24 | -4.0% | 44.2% |
| Q4 25 | 5.4% | 0.9% | ||
| Q3 25 | 5.7% | 1.0% | ||
| Q2 25 | 3.7% | 1.5% | ||
| Q1 25 | 5.2% | 0.5% | ||
| Q4 24 | 8.8% | 0.9% | ||
| Q3 24 | 3.7% | 0.7% | ||
| Q2 24 | 3.6% | 1.9% | ||
| Q1 24 | 4.5% | 1.5% |
| Q4 25 | 2.36× | 2.33× | ||
| Q3 25 | 1.85× | 1.80× | ||
| Q2 25 | 1.34× | 1.78× | ||
| Q1 25 | 0.14× | 2.03× | ||
| Q4 24 | 2.99× | 1.45× | ||
| Q3 24 | 1.71× | 1.84× | ||
| Q2 24 | 1.69× | 1.64× | ||
| Q1 24 | 0.07× | 1.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
