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Side-by-side financial comparison of Paylocity Holding Corp (PCTY) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
Paylocity Holding Corp is the larger business by last-quarter revenue ($387.0M vs $208.0M, roughly 1.9× VIRTUS INVESTMENT PARTNERS, INC.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 16.3% vs 13.0%, a 3.3% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs -10.9%). Paylocity Holding Corp produced more free cash flow last quarter ($113.6M vs $-74.1M). Over the past eight quarters, Paylocity Holding Corp's revenue compounded faster (2.7% CAGR vs -3.2%).
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
PCTY vs VRTS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $387.0M | $208.0M |
| Net Profit | $50.2M | $33.9M |
| Gross Margin | 72.9% | — |
| Operating Margin | 18.2% | 19.1% |
| Net Margin | 13.0% | 16.3% |
| Revenue YoY | 11.3% | -10.9% |
| Net Profit YoY | 34.0% | -14.2% |
| EPS (diluted) | $0.92 | $5.15 |
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 | $208.0M | ||
| Q3 25 | $378.9M | $216.4M | ||
| Q2 25 | $369.9M | $210.5M | ||
| Q1 25 | $421.1M | $217.9M | ||
| Q4 24 | $347.7M | $233.5M | ||
| Q3 24 | $333.1M | $227.0M | ||
| Q2 24 | $324.7M | $224.4M | ||
| Q1 24 | $366.8M | $222.0M |
| Q4 25 | $50.2M | $33.9M | ||
| Q3 25 | $48.0M | $31.3M | ||
| Q2 25 | $48.6M | $42.7M | ||
| Q1 25 | $91.5M | $28.1M | ||
| Q4 24 | $37.5M | $39.5M | ||
| Q3 24 | $49.6M | $49.1M | ||
| Q2 24 | $48.8M | $26.0M | ||
| Q1 24 | $85.3M | $37.9M |
| 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 24 | 77.8% | — |
| Q4 25 | 18.2% | 19.1% | ||
| Q3 25 | 19.6% | 21.7% | ||
| Q2 25 | 17.9% | 21.5% | ||
| Q1 25 | 30.2% | 16.8% | ||
| Q4 24 | 13.4% | 21.7% | ||
| Q3 24 | 19.3% | 24.3% | ||
| Q2 24 | 19.4% | 19.7% | ||
| Q1 24 | 29.0% | 14.5% |
| Q4 25 | 13.0% | 16.3% | ||
| Q3 25 | 12.7% | 14.5% | ||
| Q2 25 | 13.1% | 20.3% | ||
| Q1 25 | 21.7% | 12.9% | ||
| Q4 24 | 10.8% | 16.9% | ||
| Q3 24 | 14.9% | 21.6% | ||
| Q2 24 | 15.0% | 11.6% | ||
| Q1 24 | 23.3% | 17.1% |
| Q4 25 | $0.92 | $5.15 | ||
| Q3 25 | $0.86 | $4.65 | ||
| Q2 25 | $0.87 | $6.12 | ||
| Q1 25 | $1.61 | $4.05 | ||
| Q4 24 | $0.66 | $4.65 | ||
| Q3 24 | $0.88 | $5.71 | ||
| Q2 24 | $0.85 | $2.43 | ||
| Q1 24 | $1.50 | $4.10 |
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 | $390.0M |
| Stockholders' EquityBook value | $1.1B | $934.0M |
| Total Assets | $7.0B | $4.3B |
| Debt / EquityLower = less leverage | 0.07× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $162.5M | — | ||
| Q3 25 | $165.2M | — | ||
| Q2 25 | $398.1M | — | ||
| Q1 25 | $477.8M | — | ||
| Q4 24 | $482.4M | — | ||
| Q3 24 | $778.5M | — | ||
| Q2 24 | $401.8M | — | ||
| Q1 24 | $492.7M | — |
| Q4 25 | $81.3M | $390.0M | ||
| Q3 25 | $81.3M | $390.6M | ||
| Q2 25 | $162.5M | $231.3M | ||
| Q1 25 | $243.8M | $231.7M | ||
| Q4 24 | $325.0M | $232.1M | ||
| Q3 24 | $325.0M | $237.5M | ||
| Q2 24 | $0 | $247.6M | ||
| Q1 24 | — | $253.0M |
| Q4 25 | $1.1B | $934.0M | ||
| Q3 25 | $1.1B | $918.7M | ||
| Q2 25 | $1.2B | $896.4M | ||
| Q1 25 | $1.2B | $893.7M | ||
| Q4 24 | $1.2B | $897.5M | ||
| Q3 24 | $1.1B | $889.0M | ||
| Q2 24 | $1.0B | $868.7M | ||
| Q1 24 | $1.1B | $871.7M |
| Q4 25 | $7.0B | $4.3B | ||
| Q3 25 | $4.2B | $3.9B | ||
| Q2 25 | $4.4B | $3.7B | ||
| Q1 25 | $5.2B | $3.7B | ||
| Q4 24 | $5.3B | $4.0B | ||
| Q3 24 | $4.0B | $3.6B | ||
| Q2 24 | $4.2B | $3.6B | ||
| Q1 24 | $5.0B | $3.5B |
| Q4 25 | 0.07× | 0.42× | ||
| Q3 25 | 0.07× | 0.43× | ||
| Q2 25 | 0.13× | 0.26× | ||
| Q1 25 | 0.20× | 0.26× | ||
| Q4 24 | 0.28× | 0.26× | ||
| Q3 24 | 0.29× | 0.27× | ||
| Q2 24 | 0.00× | 0.29× | ||
| Q1 24 | — | 0.29× |
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 | $-67.2M |
| Free Cash FlowOCF − Capex | $113.6M | $-74.1M |
| FCF MarginFCF / Revenue | 29.4% | -35.6% |
| Capex IntensityCapex / Revenue | 0.9% | 3.3% |
| Cash ConversionOCF / Net Profit | 2.33× | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | $461.1M | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $117.0M | $-67.2M | ||
| Q3 25 | $86.5M | $108.3M | ||
| Q2 25 | $86.6M | $75.8M | ||
| Q1 25 | $186.0M | $-3.8M | ||
| Q4 24 | $54.2M | $1.8M | ||
| Q3 24 | $91.5M | $69.1M | ||
| Q2 24 | $79.9M | $70.0M | ||
| Q1 24 | $167.5M | $-34.5M |
| Q4 25 | $113.6M | $-74.1M | ||
| Q3 25 | $82.7M | $106.9M | ||
| Q2 25 | $81.1M | $74.2M | ||
| Q1 25 | $183.7M | $-6.8M | ||
| Q4 24 | $51.2M | $-3.8M | ||
| Q3 24 | $89.1M | $68.7M | ||
| Q2 24 | $73.6M | $68.6M | ||
| Q1 24 | $162.0M | $-36.5M |
| Q4 25 | 29.4% | -35.6% | ||
| Q3 25 | 21.8% | 49.4% | ||
| Q2 25 | 21.9% | 35.2% | ||
| Q1 25 | 43.6% | -3.1% | ||
| Q4 24 | 14.7% | -1.6% | ||
| Q3 24 | 26.8% | 30.3% | ||
| Q2 24 | 22.7% | 30.6% | ||
| Q1 24 | 44.2% | -16.4% |
| Q4 25 | 0.9% | 3.3% | ||
| Q3 25 | 1.0% | 0.7% | ||
| Q2 25 | 1.5% | 0.7% | ||
| Q1 25 | 0.5% | 1.4% | ||
| Q4 24 | 0.9% | 2.4% | ||
| Q3 24 | 0.7% | 0.2% | ||
| Q2 24 | 1.9% | 0.6% | ||
| Q1 24 | 1.5% | 0.9% |
| Q4 25 | 2.33× | -1.99× | ||
| Q3 25 | 1.80× | 3.45× | ||
| Q2 25 | 1.78× | 1.77× | ||
| Q1 25 | 2.03× | -0.13× | ||
| Q4 24 | 1.45× | 0.04× | ||
| Q3 24 | 1.84× | 1.41× | ||
| Q2 24 | 1.64× | 2.69× | ||
| Q1 24 | 1.96× | -0.91× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
