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Side-by-side financial comparison of Gaming & Leisure Properties, Inc. (GLPI) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $387.0M, roughly 1.1× Paylocity Holding Corp). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 13.0%, a 44.0% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs 6.3%). Over the past eight quarters, Gaming & Leisure Properties, Inc.'s revenue compounded faster (5.0% CAGR vs 2.7%).
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
GLPI vs PCTY — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $420.0M | $387.0M |
| Net Profit | $239.4M | $50.2M |
| Gross Margin | — | 72.9% |
| Operating Margin | 79.4% | 18.2% |
| Net Margin | 57.0% | 13.0% |
| Revenue YoY | 6.3% | 11.3% |
| Net Profit YoY | 40.5% | 34.0% |
| EPS (diluted) | — | $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 | $420.0M | — | ||
| Q4 25 | $407.0M | $387.0M | ||
| Q3 25 | $397.6M | $378.9M | ||
| Q2 25 | $394.9M | $369.9M | ||
| Q1 25 | $395.2M | $421.1M | ||
| Q4 24 | $389.6M | $347.7M | ||
| Q3 24 | $385.3M | $333.1M | ||
| Q2 24 | $380.6M | $324.7M |
| Q1 26 | $239.4M | — | ||
| Q4 25 | $275.4M | $50.2M | ||
| Q3 25 | $241.2M | $48.0M | ||
| Q2 25 | $151.4M | $48.6M | ||
| Q1 25 | $165.2M | $91.5M | ||
| Q4 24 | $223.6M | $37.5M | ||
| Q3 24 | $184.7M | $49.6M | ||
| Q2 24 | $208.3M | $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 | 79.4% | — | ||
| Q4 25 | 89.3% | 18.2% | ||
| Q3 25 | 84.8% | 19.6% | ||
| Q2 25 | 61.3% | 17.9% | ||
| Q1 25 | 65.5% | 30.2% | ||
| Q4 24 | 79.1% | 13.4% | ||
| Q3 24 | 70.4% | 19.3% | ||
| Q2 24 | 77.1% | 19.4% |
| Q1 26 | 57.0% | — | ||
| Q4 25 | 67.6% | 13.0% | ||
| Q3 25 | 60.7% | 12.7% | ||
| Q2 25 | 38.4% | 13.1% | ||
| Q1 25 | 41.8% | 21.7% | ||
| Q4 24 | 57.4% | 10.8% | ||
| Q3 24 | 47.9% | 14.9% | ||
| Q2 24 | 54.7% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | $0.92 | ||
| Q3 25 | $0.85 | $0.86 | ||
| Q2 25 | $0.54 | $0.87 | ||
| Q1 25 | $0.60 | $1.61 | ||
| Q4 24 | $0.79 | $0.66 | ||
| Q3 24 | $0.67 | $0.88 | ||
| Q2 24 | $0.77 | $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 | $274.5M | $162.5M |
| Total DebtLower is stronger | — | $81.3M |
| Stockholders' EquityBook value | $5.0B | $1.1B |
| Total Assets | $13.8B | $7.0B |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $274.5M | — | ||
| Q4 25 | — | $162.5M | ||
| Q3 25 | — | $165.2M | ||
| Q2 25 | — | $398.1M | ||
| Q1 25 | — | $477.8M | ||
| Q4 24 | $560.8M | $482.4M | ||
| Q3 24 | $560.8M | $778.5M | ||
| Q2 24 | $560.8M | $401.8M |
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | $81.3M | ||
| Q3 25 | $7.2B | $81.3M | ||
| Q2 25 | $6.9B | $162.5M | ||
| Q1 25 | $6.9B | $243.8M | ||
| Q4 24 | $7.7B | $325.0M | ||
| Q3 24 | $7.4B | $325.0M | ||
| Q2 24 | $6.6B | $0 |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.6B | $1.1B | ||
| Q3 25 | $4.6B | $1.1B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.2B | $1.2B | ||
| Q4 24 | $4.3B | $1.2B | ||
| Q3 24 | $4.3B | $1.1B | ||
| Q2 24 | $4.1B | $1.0B |
| Q1 26 | $13.8B | — | ||
| Q4 25 | $12.9B | $7.0B | ||
| Q3 25 | $12.8B | $4.2B | ||
| Q2 25 | $12.5B | $4.4B | ||
| Q1 25 | $12.1B | $5.2B | ||
| Q4 24 | $13.1B | $5.3B | ||
| Q3 24 | $12.7B | $4.0B | ||
| Q2 24 | $11.8B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | 0.07× | ||
| Q3 25 | 1.57× | 0.07× | ||
| Q2 25 | 1.51× | 0.13× | ||
| Q1 25 | 1.63× | 0.20× | ||
| Q4 24 | 1.81× | 0.28× | ||
| Q3 24 | 1.74× | 0.29× | ||
| Q2 24 | 1.60× | 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 | $1.1B | $117.0M | ||
| Q3 25 | $240.3M | $86.5M | ||
| Q2 25 | $293.4M | $86.6M | ||
| Q1 25 | $252.5M | $186.0M | ||
| Q4 24 | $1.1B | $54.2M | ||
| Q3 24 | $270.4M | $91.5M | ||
| Q2 24 | $252.1M | $79.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $113.6M | ||
| Q3 25 | $183.0M | $82.7M | ||
| Q2 25 | $272.3M | $81.1M | ||
| Q1 25 | $239.6M | $183.7M | ||
| Q4 24 | $1.1B | $51.2M | ||
| Q3 24 | $261.5M | $89.1M | ||
| Q2 24 | $245.0M | $73.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 29.4% | ||
| Q3 25 | 46.0% | 21.8% | ||
| Q2 25 | 69.0% | 21.9% | ||
| Q1 25 | 60.6% | 43.6% | ||
| Q4 24 | 275.3% | 14.7% | ||
| Q3 24 | 67.9% | 26.8% | ||
| Q2 24 | 64.4% | 22.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | 14.4% | 1.0% | ||
| Q2 25 | 5.3% | 1.5% | ||
| Q1 25 | 3.3% | 0.5% | ||
| Q4 24 | 0.0% | 0.9% | ||
| Q3 24 | 2.3% | 0.7% | ||
| Q2 24 | 1.9% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.10× | 2.33× | ||
| Q3 25 | 1.00× | 1.80× | ||
| Q2 25 | 1.94× | 1.78× | ||
| Q1 25 | 1.53× | 2.03× | ||
| Q4 24 | 4.80× | 1.45× | ||
| Q3 24 | 1.46× | 1.84× | ||
| Q2 24 | 1.21× | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLPI
Segment breakdown not available.
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
