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Side-by-side financial comparison of Paylocity Holding Corp (PCTY) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
WillScot Holdings Corp is the larger business by last-quarter revenue ($566.0M vs $387.0M, roughly 1.5× Paylocity Holding Corp). Paylocity Holding Corp runs the higher net margin — 13.0% vs -33.1%, a 46.1% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $113.6M). Over the past eight quarters, Paylocity Holding Corp's revenue compounded faster (2.7% CAGR vs -1.8%).
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
PCTY vs WSC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $387.0M | $566.0M |
| Net Profit | $50.2M | $-187.3M |
| Gross Margin | 72.9% | 50.4% |
| Operating Margin | 18.2% | -32.5% |
| Net Margin | 13.0% | -33.1% |
| Revenue YoY | 11.3% | -6.1% |
| Net Profit YoY | 34.0% | -310.0% |
| EPS (diluted) | $0.92 | $-1.02 |
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 | $566.0M | ||
| Q3 25 | $378.9M | $566.8M | ||
| Q2 25 | $369.9M | $589.1M | ||
| Q1 25 | $421.1M | $559.6M | ||
| Q4 24 | $347.7M | $602.5M | ||
| Q3 24 | $333.1M | $601.4M | ||
| Q2 24 | $324.7M | $604.6M | ||
| Q1 24 | $366.8M | $587.2M |
| Q4 25 | $50.2M | $-187.3M | ||
| Q3 25 | $48.0M | $43.3M | ||
| Q2 25 | $48.6M | $47.9M | ||
| Q1 25 | $91.5M | $43.1M | ||
| Q4 24 | $37.5M | $89.2M | ||
| Q3 24 | $49.6M | $-70.5M | ||
| Q2 24 | $48.8M | $-46.9M | ||
| Q1 24 | $85.3M | $56.2M |
| Q4 25 | 72.9% | 50.4% | ||
| Q3 25 | 73.9% | 49.7% | ||
| Q2 25 | 73.5% | 50.3% | ||
| Q1 25 | 77.1% | 53.7% | ||
| Q4 24 | 72.6% | 55.8% | ||
| Q3 24 | 74.4% | 53.5% | ||
| Q2 24 | 74.0% | 54.1% | ||
| Q1 24 | 77.8% | 54.0% |
| Q4 25 | 18.2% | -32.5% | ||
| Q3 25 | 19.6% | 21.0% | ||
| Q2 25 | 17.9% | 21.5% | ||
| Q1 25 | 30.2% | 21.3% | ||
| Q4 24 | 13.4% | 28.9% | ||
| Q3 24 | 19.3% | -5.9% | ||
| Q2 24 | 19.4% | -0.9% | ||
| Q1 24 | 29.0% | 22.1% |
| Q4 25 | 13.0% | -33.1% | ||
| Q3 25 | 12.7% | 7.6% | ||
| Q2 25 | 13.1% | 8.1% | ||
| Q1 25 | 21.7% | 7.7% | ||
| Q4 24 | 10.8% | 14.8% | ||
| Q3 24 | 14.9% | -11.7% | ||
| Q2 24 | 15.0% | -7.7% | ||
| Q1 24 | 23.3% | 9.6% |
| Q4 25 | $0.92 | $-1.02 | ||
| Q3 25 | $0.86 | $0.24 | ||
| Q2 25 | $0.87 | $0.26 | ||
| Q1 25 | $1.61 | $0.23 | ||
| Q4 24 | $0.66 | $0.48 | ||
| Q3 24 | $0.88 | $-0.37 | ||
| Q2 24 | $0.85 | $-0.25 | ||
| Q1 24 | $1.50 | $0.29 |
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 | $14.6M |
| Total DebtLower is stronger | $81.3M | $3.6B |
| Stockholders' EquityBook value | $1.1B | $856.3M |
| Total Assets | $7.0B | $5.8B |
| Debt / EquityLower = less leverage | 0.07× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $162.5M | $14.6M | ||
| Q3 25 | $165.2M | $14.8M | ||
| Q2 25 | $398.1M | $12.8M | ||
| Q1 25 | $477.8M | $10.7M | ||
| Q4 24 | $482.4M | $9.0M | ||
| Q3 24 | $778.5M | $11.0M | ||
| Q2 24 | $401.8M | $5.9M | ||
| Q1 24 | $492.7M | $13.1M |
| Q4 25 | $81.3M | $3.6B | ||
| Q3 25 | $81.3M | $3.6B | ||
| Q2 25 | $162.5M | $3.7B | ||
| Q1 25 | $243.8M | $3.6B | ||
| Q4 24 | $325.0M | $3.7B | ||
| Q3 24 | $325.0M | $3.6B | ||
| Q2 24 | $0 | $3.5B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | $1.1B | $856.3M | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $1.0B | $1.2B | ||
| Q1 24 | $1.1B | $1.3B |
| Q4 25 | $7.0B | $5.8B | ||
| Q3 25 | $4.2B | $6.1B | ||
| Q2 25 | $4.4B | $6.1B | ||
| Q1 25 | $5.2B | $6.0B | ||
| Q4 24 | $5.3B | $6.0B | ||
| Q3 24 | $4.0B | $6.0B | ||
| Q2 24 | $4.2B | $6.0B | ||
| Q1 24 | $5.0B | $6.2B |
| Q4 25 | 0.07× | 4.15× | ||
| Q3 25 | 0.07× | 3.39× | ||
| Q2 25 | 0.13× | 3.55× | ||
| Q1 25 | 0.20× | 3.56× | ||
| Q4 24 | 0.28× | 3.62× | ||
| Q3 24 | 0.29× | 3.42× | ||
| Q2 24 | 0.00× | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| Free Cash FlowOCF − Capex | $113.6M | $149.7M |
| FCF MarginFCF / Revenue | 29.4% | 26.5% |
| Capex IntensityCapex / Revenue | 0.9% | 1.6% |
| Cash ConversionOCF / Net Profit | 2.33× | — |
| TTM Free Cash FlowTrailing 4 quarters | $461.1M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $117.0M | $158.9M | ||
| Q3 25 | $86.5M | $191.2M | ||
| Q2 25 | $86.6M | $205.3M | ||
| Q1 25 | $186.0M | $206.6M | ||
| Q4 24 | $54.2M | $178.9M | ||
| Q3 24 | $91.5M | $-1.6M | ||
| Q2 24 | $79.9M | $175.6M | ||
| Q1 24 | $167.5M | $208.7M |
| Q4 25 | $113.6M | $149.7M | ||
| Q3 25 | $82.7M | $186.9M | ||
| Q2 25 | $81.1M | $199.0M | ||
| Q1 25 | $183.7M | $202.0M | ||
| Q4 24 | $51.2M | $176.6M | ||
| Q3 24 | $89.1M | $-4.9M | ||
| Q2 24 | $73.6M | $169.4M | ||
| Q1 24 | $162.0M | $202.1M |
| Q4 25 | 29.4% | 26.5% | ||
| Q3 25 | 21.8% | 33.0% | ||
| Q2 25 | 21.9% | 33.8% | ||
| Q1 25 | 43.6% | 36.1% | ||
| Q4 24 | 14.7% | 29.3% | ||
| Q3 24 | 26.8% | -0.8% | ||
| Q2 24 | 22.7% | 28.0% | ||
| Q1 24 | 44.2% | 34.4% |
| Q4 25 | 0.9% | 1.6% | ||
| Q3 25 | 1.0% | 0.7% | ||
| Q2 25 | 1.5% | 1.1% | ||
| Q1 25 | 0.5% | 0.8% | ||
| Q4 24 | 0.9% | 0.4% | ||
| Q3 24 | 0.7% | 0.6% | ||
| Q2 24 | 1.9% | 1.0% | ||
| Q1 24 | 1.5% | 1.1% |
| Q4 25 | 2.33× | — | ||
| Q3 25 | 1.80× | 4.41× | ||
| Q2 25 | 1.78× | 4.28× | ||
| Q1 25 | 2.03× | 4.80× | ||
| Q4 24 | 1.45× | 2.01× | ||
| Q3 24 | 1.84× | — | ||
| Q2 24 | 1.64× | — | ||
| Q1 24 | 1.96× | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
