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Paycom Software cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$164M in Q3 2026 · $659M over twelve months

Operating cash flow$186M
Capital spending−$22.5M
Free cash flow+$164M
Cash / net income1.4×
Cash conversion cycle-4 days

Analysis

In Q3 2026, Paycom Software generated $186M of operating cash flow and spent $22.5M on capital projects, leaving free cash flow of $164M. That is $84.0M more than in Q3 2025 ($79.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $810M; the largest uses were buybacks ($1.5B), capital spending ($151M), dividends ($72.9M); besides operations, cash came from other financing ($2.8B), other investing ($122M); the cash balance rose by $2.0B.

Operating cash flow was $186M against net income of $133M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$50.7M, stock-based pay +$20.4M, payables +$12.6M.

Its cash conversion cycle was -4 days (receivables 9 + inventory 2 − payables 15): suppliers fund its working capital.

Free cash flow

Paycom Software: free cash flow by quarterPaycom Software: free cash flow by quarter$109MQ4 2024$145MQ1 2025$60.8MQ2 2025$79.8MQ3 2025$123MQ4 2025$183MQ1 2026$190MQ2 2026$164MQ3 2026
Operating cash flow less capital spending.
Paycom Software: operating cash flow against capital spendingPaycom Software: operating cash flow against capital spendingOperating cash flowCapital spending$160M$51.4MQ4 2024$182M$37.7MQ1 2025$122M$61.7MQ2 2025$178M$98.0MQ3 2025$196M$73.5MQ4 2025$214M$31.2MQ1 2026$214M$23.7MQ2 2026$186M$22.5MQ3 2026
Latest (Q3 2026): Operating cash flow $186M, Capital spending $22.5M.

Capital allocation, year by year

Paycom Software: where the cash came from (up) and went (down), by fiscal yearPaycom Software: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $319MFY2021: Net borrowing −$1.8MFY2021: Capital spending −$121M$319MFY2021FY2022: Operating cash flow $365MFY2022: Net borrowing −$300KFY2022: Capital spending −$133MFY2022: Buybacks −$94.7M$365MFY2022FY2023: Operating cash flow $485MFY2023: Net borrowing −$29.0MFY2023: Asset sales $100KFY2023: Capital spending −$193MFY2023: Buybacks −$287MFY2023: Dividends −$64.8M$485MFY2023FY2024: Operating cash flow $534MFY2024: Capital spending −$193MFY2024: Buybacks −$123MFY2024: Dividends −$84.8M$534MFY2024FY2025: Operating cash flow $679MFY2025: Shares issued $5.5MFY2025: Asset sales $100KFY2025: Capital spending −$271MFY2025: Buybacks −$326MFY2025: Dividends −$84.8M$684MFY2025
Over these 5 years operating cash flow totalled $2.4B; the largest uses were capital spending ($910M) and buybacks ($830M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$194M
Debt$750M
Net debt$556M

Paycom Software funds itself: free cash flow was $659M over the last twelve months, and $194M of cash and investments stands against $750M of debt.

Where the cash came from and went

Paycom Software: sources (+) and uses (−) of cash, Q3 2026Paycom Software: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$882MOther financing$736MOperating cash flow$186MCapital spending−$22.5MDividends−$16.7MTaxes on employees’ shares−$1.6MShares issued$1.3MBuybacks−$1.2MOther investing$600K
Paycom Software: sources (+) and uses (−) of cash, TTM to Q3 2026Paycom Software: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$2.8BCash drawn (+) / kept (−)−$2.0BBuybacks−$1.5BOperating cash flow$810MCapital spending−$151MOther investing$122MDividends−$72.9MTaxes on employees’ shares−$20.3MShares issued$8.2M

From profit to cash

Paycom Software: net income to operating cash flow, Q3 2026Paycom Software: net income to operating cash flow, Q3 2026Net income$133MDepreciation & amortization$50.7MStock-based pay$20.4MDeferred taxes$2.1MGains on disposals$1.4MReceivables−$2.8MInventory−$400KPayables$12.6MAccrued liabilities$4.7MDeferred revenue$900KPrepaid and other assets−$2.1MIncome taxes payable−$9.2MOperating cash flow$186M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20269215-4
Q2 20269292
Q1 20268281
Q4 20258214-4
Q3 20258222-11
Q2 20257215-7
Q1 20256118-10
Q4 20246232-25

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$186M−$22.5M−$1.2M−$16.7M—$1.3M−$882M$164M
Q2 2026$214M−$23.7M−$335M−$17.8M$225M$800K−$425M$190M
Q1 2026$214M−$31.2M−$1.1B−$17.7M$675M$3.6M$2.7B$183M
Q4 2025$196M−$73.5M−$107M−$20.7M—$2.5M−$3.4B$123M
Q3 2025$178M−$98.0M—−$21.2M——−$45.1M$79.8M
Q2 2025$122M−$61.7M—−$21.8M——$740M$60.8M
Q1 2025$182M−$37.7M—−$21.1M——$1.6B$145M
Q4 2024$160M−$51.4M—−$21.1M——−$2.3B$109M

Paycom Software: income statement and cash flow

Paycom Software, Q3 2026: revenue $544M (+10% year over year), operating margin 36.0%. The chart follows the revenue to costs, profit and cash.

Paycom Software: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.