Paylocity Holdng (PCTY)

Debt-to-capital ratio

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,033,060	1,099,410	986,773	892,639	842,863	768,746	677,767	610,846	613,463	565,419	506,693	467,573	476,930	454,609	408,218	386,820	392,908	374,375	331,564	309,459
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

June 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,033,060K)
= 0.00

The debt-to-capital ratio for Paylocity Holding has consistently remained at 0.00 over the past several quarters, indicating that the company has not utilized debt to finance its operations or investments. This suggests that Paylocity Holding has been primarily relying on equity financing to support its business activities. While a debt-to-capital ratio of 0.00 may indicate a conservative financial approach with lower financial risk due to the absence of debt, it is essential to consider the potential limitations of relying solely on equity financing, such as potentially missing out on leveraging debt for growth opportunities or tax advantages. It is recommended that investors and analysts further investigate the company's capital structure and financing strategy to obtain a comprehensive understanding of its financial health and risk profile.