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Side-by-side financial comparison of Federal Realty Investment Trust (FRT) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
Paylocity Holding Corp is the larger business by last-quarter revenue ($387.0M vs $336.0M, roughly 1.2× Federal Realty Investment Trust). Federal Realty Investment Trust runs the higher net margin — 38.6% vs 13.0%, a 25.6% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs 8.7%). Over the past eight quarters, Federal Realty Investment Trust's revenue compounded faster (6.5% CAGR vs 2.7%).
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
FRT vs PCTY — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $336.0M | $387.0M |
| Net Profit | $129.7M | $50.2M |
| Gross Margin | — | 72.9% |
| Operating Margin | 53.8% | 18.2% |
| Net Margin | 38.6% | 13.0% |
| Revenue YoY | 8.7% | 11.3% |
| Net Profit YoY | 103.5% | 34.0% |
| EPS (diluted) | $1.49 | $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 | $336.0M | — | ||
| Q4 25 | $336.0M | $387.0M | ||
| Q3 25 | $322.3M | $378.9M | ||
| Q2 25 | $311.5M | $369.9M | ||
| Q1 25 | $309.2M | $421.1M | ||
| Q4 24 | $311.4M | $347.7M | ||
| Q3 24 | $303.6M | $333.1M | ||
| Q2 24 | $296.1M | $324.7M |
| Q1 26 | $129.7M | — | ||
| Q4 25 | $129.7M | $50.2M | ||
| Q3 25 | $61.6M | $48.0M | ||
| Q2 25 | $155.9M | $48.6M | ||
| Q1 25 | $63.8M | $91.5M | ||
| Q4 24 | $65.5M | $37.5M | ||
| Q3 24 | $61.0M | $49.6M | ||
| Q2 24 | $112.0M | $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 | 53.8% | — | ||
| Q4 25 | 53.8% | 18.2% | ||
| Q3 25 | 34.3% | 19.6% | ||
| Q2 25 | 65.1% | 17.9% | ||
| Q1 25 | 35.0% | 30.2% | ||
| Q4 24 | 35.1% | 13.4% | ||
| Q3 24 | 34.9% | 19.3% | ||
| Q2 24 | 53.0% | 19.4% |
| Q1 26 | 38.6% | — | ||
| Q4 25 | 38.6% | 13.0% | ||
| Q3 25 | 19.1% | 12.7% | ||
| Q2 25 | 50.0% | 13.1% | ||
| Q1 25 | 20.6% | 21.7% | ||
| Q4 24 | 21.0% | 10.8% | ||
| Q3 24 | 20.1% | 14.9% | ||
| Q2 24 | 37.8% | 15.0% |
| Q1 26 | $1.49 | — | ||
| Q4 25 | $1.49 | $0.92 | ||
| Q3 25 | $0.69 | $0.86 | ||
| Q2 25 | $1.78 | $0.87 | ||
| Q1 25 | $0.72 | $1.61 | ||
| Q4 24 | $0.74 | $0.66 | ||
| Q3 24 | $0.70 | $0.88 | ||
| Q2 24 | $1.32 | $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 | $107.4M | $162.5M |
| Total DebtLower is stronger | $5.0B | $81.3M |
| Stockholders' EquityBook value | $3.2B | $1.1B |
| Total Assets | $9.1B | $7.0B |
| Debt / EquityLower = less leverage | 1.53× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $107.4M | — | ||
| Q4 25 | $107.4M | $162.5M | ||
| Q3 25 | $111.3M | $165.2M | ||
| Q2 25 | $177.0M | $398.1M | ||
| Q1 25 | $109.2M | $477.8M | ||
| Q4 24 | $123.4M | $482.4M | ||
| Q3 24 | $97.0M | $778.5M | ||
| Q2 24 | $103.2M | $401.8M |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $81.3M | ||
| Q3 25 | — | $81.3M | ||
| Q2 25 | — | $162.5M | ||
| Q1 25 | — | $243.8M | ||
| Q4 24 | $4.5B | $325.0M | ||
| Q3 24 | — | $325.0M | ||
| Q2 24 | — | $0 |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.1B | ||
| Q3 25 | $3.2B | $1.1B | ||
| Q2 25 | $3.2B | $1.2B | ||
| Q1 25 | $3.2B | $1.2B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $3.0B | $1.0B |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.1B | $7.0B | ||
| Q3 25 | $8.9B | $4.2B | ||
| Q2 25 | $8.6B | $4.4B | ||
| Q1 25 | $8.6B | $5.2B | ||
| Q4 24 | $8.5B | $5.3B | ||
| Q3 24 | $8.5B | $4.0B | ||
| Q2 24 | $8.4B | $4.2B |
| Q1 26 | 1.53× | — | ||
| Q4 25 | 1.53× | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | 1.42× | 0.28× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 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 | $622.4M | $117.0M | ||
| Q3 25 | $147.8M | $86.5M | ||
| Q2 25 | $150.7M | $86.6M | ||
| Q1 25 | $179.0M | $186.0M | ||
| Q4 24 | $574.6M | $54.2M | ||
| Q3 24 | $144.1M | $91.5M | ||
| Q2 24 | $169.7M | $79.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $113.6M | ||
| Q3 25 | — | $82.7M | ||
| Q2 25 | — | $81.1M | ||
| Q1 25 | — | $183.7M | ||
| Q4 24 | — | $51.2M | ||
| Q3 24 | — | $89.1M | ||
| Q2 24 | — | $73.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 29.4% | ||
| Q3 25 | — | 21.8% | ||
| Q2 25 | — | 21.9% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 26.8% | ||
| Q2 24 | — | 22.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.80× | 2.33× | ||
| Q3 25 | 2.40× | 1.80× | ||
| Q2 25 | 0.97× | 1.78× | ||
| Q1 25 | 2.81× | 2.03× | ||
| Q4 24 | 8.77× | 1.45× | ||
| Q3 24 | 2.36× | 1.84× | ||
| Q2 24 | 1.52× | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRT
Segment breakdown not available.
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
