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Side-by-side financial comparison of Paylocity Holding Corp (PCTY) and Ralliant Corp (RAL). Click either name above to swap in a different company.
Ralliant Corp is the larger business by last-quarter revenue ($529.1M vs $387.0M, roughly 1.4× Paylocity Holding Corp). Paylocity Holding Corp runs the higher net margin — 13.0% vs 7.5%, a 5.4% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs -0.5%). Ralliant Corp produced more free cash flow last quarter ($126.6M vs $113.6M).
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
PCTY vs RAL — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $387.0M | $529.1M |
| Net Profit | $50.2M | $39.9M |
| Gross Margin | 72.9% | 50.8% |
| Operating Margin | 18.2% | 9.8% |
| Net Margin | 13.0% | 7.5% |
| Revenue YoY | 11.3% | -0.5% |
| Net Profit YoY | 34.0% | -56.1% |
| EPS (diluted) | $0.92 | $0.35 |
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 | $387.0M | — | ||
| Q3 25 | $378.9M | $529.1M | ||
| Q2 25 | $369.9M | $503.3M | ||
| Q1 25 | $421.1M | — | ||
| Q4 24 | $347.7M | — | ||
| Q3 24 | $333.1M | $531.7M | ||
| Q2 24 | $324.7M | $533.7M | ||
| Q1 24 | $366.8M | — |
| Q4 25 | $50.2M | — | ||
| Q3 25 | $48.0M | $39.9M | ||
| Q2 25 | $48.6M | $47.6M | ||
| Q1 25 | $91.5M | — | ||
| Q4 24 | $37.5M | — | ||
| Q3 24 | $49.6M | $90.9M | ||
| Q2 24 | $48.8M | $64.8M | ||
| Q1 24 | $85.3M | — |
| Q4 25 | 72.9% | — | ||
| Q3 25 | 73.9% | 50.8% | ||
| Q2 25 | 73.5% | 49.3% | ||
| Q1 25 | 77.1% | — | ||
| Q4 24 | 72.6% | — | ||
| Q3 24 | 74.4% | 52.6% | ||
| Q2 24 | 74.0% | 51.5% | ||
| Q1 24 | 77.8% | — |
| Q4 25 | 18.2% | — | ||
| Q3 25 | 19.6% | 9.8% | ||
| Q2 25 | 17.9% | 11.7% | ||
| Q1 25 | 30.2% | — | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 19.3% | 20.9% | ||
| Q2 24 | 19.4% | 19.7% | ||
| Q1 24 | 29.0% | — |
| Q4 25 | 13.0% | — | ||
| Q3 25 | 12.7% | 7.5% | ||
| Q2 25 | 13.1% | 9.5% | ||
| Q1 25 | 21.7% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | 14.9% | 17.1% | ||
| Q2 24 | 15.0% | 12.1% | ||
| Q1 24 | 23.3% | — |
| Q4 25 | $0.92 | — | ||
| Q3 25 | $0.86 | $0.35 | ||
| Q2 25 | $0.87 | $0.42 | ||
| Q1 25 | $1.61 | — | ||
| Q4 24 | $0.66 | — | ||
| Q3 24 | $0.88 | $0.81 | ||
| Q2 24 | $0.85 | $0.57 | ||
| Q1 24 | $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 | $162.5M | $264.2M |
| Total DebtLower is stronger | $81.3M | $1.1B |
| Stockholders' EquityBook value | $1.1B | $3.0B |
| Total Assets | $7.0B | $5.3B |
| Debt / EquityLower = less leverage | 0.07× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $162.5M | — | ||
| Q3 25 | $165.2M | $264.2M | ||
| Q2 25 | $398.1M | $198.6M | ||
| Q1 25 | $477.8M | — | ||
| Q4 24 | $482.4M | — | ||
| Q3 24 | $778.5M | — | ||
| Q2 24 | $401.8M | — | ||
| Q1 24 | $492.7M | — |
| Q4 25 | $81.3M | — | ||
| Q3 25 | $81.3M | $1.1B | ||
| Q2 25 | $162.5M | $1.1B | ||
| Q1 25 | $243.8M | — | ||
| Q4 24 | $325.0M | — | ||
| Q3 24 | $325.0M | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $3.0B | ||
| Q2 25 | $1.2B | $3.0B | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | $4.0B | ||
| Q2 24 | $1.0B | $4.0B | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $7.0B | — | ||
| Q3 25 | $4.2B | $5.3B | ||
| Q2 25 | $4.4B | $5.2B | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.2B | — | ||
| Q1 24 | $5.0B | — |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | 0.39× | ||
| Q2 25 | 0.13× | 0.38× | ||
| 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 | $117.0M | $138.6M |
| Free Cash FlowOCF − Capex | $113.6M | $126.6M |
| FCF MarginFCF / Revenue | 29.4% | 23.9% |
| Capex IntensityCapex / Revenue | 0.9% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.33× | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | $461.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $117.0M | — | ||
| Q3 25 | $86.5M | $138.6M | ||
| Q2 25 | $86.6M | — | ||
| Q1 25 | $186.0M | — | ||
| Q4 24 | $54.2M | — | ||
| Q3 24 | $91.5M | — | ||
| Q2 24 | $79.9M | — | ||
| Q1 24 | $167.5M | — |
| Q4 25 | $113.6M | — | ||
| Q3 25 | $82.7M | $126.6M | ||
| Q2 25 | $81.1M | — | ||
| Q1 25 | $183.7M | — | ||
| Q4 24 | $51.2M | — | ||
| Q3 24 | $89.1M | — | ||
| Q2 24 | $73.6M | — | ||
| Q1 24 | $162.0M | — |
| Q4 25 | 29.4% | — | ||
| Q3 25 | 21.8% | 23.9% | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 43.6% | — | ||
| Q4 24 | 14.7% | — | ||
| Q3 24 | 26.8% | — | ||
| Q2 24 | 22.7% | — | ||
| Q1 24 | 44.2% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.0% | 2.3% | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 1.5% | — |
| Q4 25 | 2.33× | — | ||
| Q3 25 | 1.80× | 3.47× | ||
| Q2 25 | 1.78× | — | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | 1.45× | — | ||
| Q3 24 | 1.84× | — | ||
| Q2 24 | 1.64× | — | ||
| Q1 24 | 1.96× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
RAL
| Industrial Manufacturing | $111.1M | 21% |
| Defense And Space | $93.6M | 18% |
| Diversified Electronics | $91.0M | 17% |
| Test And Measurement | $76.8M | 15% |
| Communications | $60.7M | 11% |
| Semiconductors | $51.4M | 10% |
| Other Direct End Markets | $44.4M | 8% |
