Paylocity vs Upwork
Paylocity reported revenue of $1.8 billion in fiscal 2026, 2.2 times Upwork's $788 million in fiscal 2025. Paylocity's revenue grew 11.0% in its latest year, and Upwork's grew 2.4%. Paylocity had an operating margin of 21.8%, against 16.4% at Upwork. Free cash flow was $497 million at Paylocity and $242 million at Upwork. Their fiscal years end in different months (June 30 and December 31), so the periods don't line up exactly.
Side by side
| Paylocity | Upwork | |
|---|---|---|
| Latest fiscal year | FY2026, Jun 30, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $1.8B | $788M |
| Revenue growth | 11.0% | 2.4% |
| Revenue growth a year, last 5 years | 22.8% | 16.1% |
| Gross margin | 69.2% | 77.8% |
| Operating margin | 21.8% | 16.4% |
| Net margin | 15.2% | 14.7% |
| Free cash flow | $497M | $242M |
| Free cash flow margin | 28.1% | 30.8% |
| Return on capital | 26.5% | 31.0% |
| Net debt to EBITDA | −0.4x | −2.0x |
| Dividends and buybacks | $398M | $136M |
| Change in diluted share count | −3.1% | −1.7% |
| Last close | $176.46 | $9.51 |
| P/E at the last close | 35.9× | 12.4× |
| Insider trades, last 12 months | sold $41.0 million | sold $15.8 million |
| Piotroski F-score | 8 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
PaylocityUpwork
Operating margin
Percent of revenue
PaylocityUpwork
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
PaylocityUpwork