Paylocity Holdng (PCTY)
Fixed asset turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,595,221 | 1,551,771 | 1,498,504 | 1,447,885 | 1,402,515 | 1,353,681 | 1,292,257 | 1,238,904 | 1,174,598 | 1,095,092 | 1,001,205 | 924,234 | 852,651 | 791,155 | 731,238 | 681,530 | 635,627 | 598,765 | 584,358 | 570,403 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | — | — | 108,136 | — | 106,110 | 108,557 | 112,049 | 64,004 | 112,036 | 62,265 | 103,819 | 62,187 | 64,066 | 66,068 |
| Fixed asset turnover | — | — | — | — | — | — | — | — | 10.86 | — | 9.44 | 8.51 | 7.61 | 12.36 | 6.53 | 10.95 | 6.12 | 9.63 | 9.12 | 8.63 |
June 30, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,595,221K ÷ $—K
= —
The fixed asset turnover ratios for Paylocity Holding over the observed periods exhibit notable fluctuations, indicative of variations in asset utilization and sales generation efficiency. Starting from September 30, 2020, the ratio was at 8.63, then increased modestly to 9.12 by the end of 2020, and further rose to 9.63 by March 2021, suggesting improving efficiency in utilizing fixed assets to generate revenue during this period.
However, a significant decline occurred by June 30, 2021, when the ratio dropped sharply to 6.12, indicating a reduction in sales relative to fixed assets, possibly due to increased asset base, decreased sales, or both. This downward trend was partially reversed by September 30, 2021, when the ratio spiked to 10.95, reflecting a period of heightened asset efficiency. The subsequent quarters showed a decline again, with the ratio decreasing to 6.53 by the end of 2021, suggesting variability and potential inconsistencies in asset utilization or sales performance.
In 2022, the ratio recovered sharply to 12.36 in March, signaling a period of strong asset efficiency, but then experienced a decline to 7.61 in June, followed by a slight increase to 8.51 in September and further to 9.44 at year-end. These movements underscore a pattern of cyclical fluctuations in asset productivity.
The data for March 2023 to December 2024 is not available, limiting the analysis of longer-term trends beyond 2022. Notably, the ratios for June 2023 are at 10.86, suggesting a relative rebound in asset utilization compared to earlier periods, but subsequent quarterly data remains unavailable.
Overall, the periodic variability in fixed asset turnover ratios indicates that the company's efficiency in using its fixed assets to generate revenue has experienced considerable ups and downs over the analyzed periods. This pattern could be associated with changes in operational scale, strategic investments, or shifts in sales cycles, warranting further investigation into underlying causes for these fluctuations.
Peer comparison
Jun 30, 2025