Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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From 2021–2024 Paycom’s balance sheet expanded substantially: total assets rose from $3,215m to $5,860m (+82% cumulative). Growth was year-to-year of ~21% (2021→22), ~7.6% (22→23) and a large ~39.6% jump in 2024. Liabilities tracked a similar expansion, increasing from $2,321m to $4,284m (+84.5% cumulative) with year moves of ~17%, ~6.4% and ~48% respectively. Stockholders’ equity increased steadily from $894m to $1,576m (+76% cumulative), but its share of assets peaked around 31% in 2023 then fell to ~27% in 2024 as liabilities grew faster that year. Leverage (liabilities/assets) has been roughly in the 69–73% band across the period. The 2024 inflection is the most noteworthy feature: a pronounced lift in both assets and liabilities suggests sizable scaling activity — e.g., higher cash/receivables, working capital needs, customer-related liabilities (deferred revenue/payroll obligations) or financing to support growth/expansion or acquisitions. Equity has grown in absolute terms (indicating retained earnings or capital raises) but the drop in the equity-to-assets ratio in 2024 means the company mobilized more third‑party funding relative to equity. The 2025 row of zeros appears to be missing data rather than an economic event and should be treated as unavailable. For a SaaS/payroll business like Paycom, this pattern is consistent with rapid top-line/customer growth that drives receivables and deferred revenue; investors should monitor the composition of the 2024 liability increase (debt vs. operating liabilities) and the sustainability of margin/earnings that underpin equity growth.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.