PAY
Paymentus Holdings, Inc.
PAY's fundamentals are strong and it looks cheap: trading at 46x earnings, less than half its usual 105x. Analysts expect strong earnings growth, though they disagree widely on how much.
PAY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
PAY's revenue, profitability, cash flow and balance sheet are all currently healthy.
PAY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 33x | $33.75 | — |
| Current | 46x | $33.75 | — |
| Cheap | 60x | $44.04 | +30% |
| Fair | 103x | $75.05 | +122% |
| Expensive | 409x | $299 | +785% |
Historical ranges are pointers, not guarantees.
PAY's PE is in its cheap range at 46x. If earnings grow as analysts expect, today's price would be 33x next year's earnings.
PAY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for PAY, with profitability improving. However, they disagree widely on these estimates.
PAY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.04 | +42% |
| Q3 2026 | $0.73 | +55% |
| Q2 2026 | $0.66 | +50% |
| Q1 2026 | $0.57 | +42% |
| Q4 2025 | $0.52 | +49% |
| Q3 2025 | $0.47 | +52% |
| Q2 2025 | $0.44 | +76% |
| Q1 2025 | $0.40 | +74% |
| Q4 2024 | $0.35 | +94% |
PAY's earnings per share have climbed steadily: $0.73 over the past year, up 55% from the year before, and higher year over year for 14 quarters in a row.
PAY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $372.2M | +20% |
| Q2 2026 | $360.7M | +29% |
| Q1 2026 | $358.4M | +30% |
| Q4 2025 | $330.5M | +28% |
| Q3 2025 | $310.7M | +34% |
| Q2 2025 | $280.1M | +42% |
| Q1 2025 | $275.2M | +49% |
| Q4 2024 | $257.9M | +56% |
PAY's revenue has grown year over year for 23 quarters in a row: $372M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9% | +2.6 points |
| Q2 2026 | 9% | +3.4 points |
| Q1 2026 | 7.4% | +1.7 points |
| Q4 2025 | 7.3% | +1.8 points |
| Q3 2025 | 6.4% | +1.2 points |
| Q2 2025 | 5.7% | +0.5 points |
| Q1 2025 | 5.7% | +1.2 points |
| Q4 2024 | 5.5% | 0 points |
PAY's operating margin was 9% last quarter, up 2.6 points from the same quarter a year ago, near the top of its range since 2018.
PAY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $43.4M | +24% |
| Q2 2026 | $48.7M | +55% |
| Q1 2026 | $30.4M | -40% |
| Q4 2025 | $45M | +62% |
| Q3 2025 | $35M | +425% |
| Q2 2025 | $31.4M | +76% |
| Q1 2025 | $50.4M | +365% |
| Q4 2024 | $27.8M | +14% |
PAY generated $168M in free cash flow over the past year, up 16% from the year before.
PAY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +1.3M shares |
| 1 year | +0.8% | +1.1M shares |
| 3 years | +3.7% | +4.7M shares |
| 5 years | +4.7% | +5.9M shares |
| Available history | +18% | +19.8M shares |
PAY has 130M diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
| Q2 2018 | — |
PAY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.0x | Net Cash |
| Q2 2026 | -3.1x | Net Cash |
| Q1 2026 | -3.2x | Net Cash |
| Q4 2025 | -3.3x | Net Cash |
| Q3 2025 | -3.3x | Net Cash |
| Q2 2025 | -3.4x | Net Cash |
| Q1 2025 | -3.4x | Net Cash |
| Q4 2024 | -3.3x | Net Cash |
PAY has more cash than debt.
PAY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.0 | Neutral |
| Stochastic | 27.5 | Neutral |
PAY's weekly RSI is 55 (neutral) and its Stochastic is 28 (neutral).
PAY PE vs Technology Sector
| Metric | PAY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 28x | 66% above |
| PE % | 4 | 43 | 39 pts below |
PAY is trading at 46x earnings, a 66% premium to the Technology sector's median of 28x.
PAY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $32.2 | 4.7% above |
| 20 week MA | $33.5 | 0.8% above |
| 50 week MA | $29.2 | 16% above |
| 100 week MA | $30.7 | 10% above |
| 200 week MA | $23.8 | 42% above |
PAY is in an uptrend: it's above all five of its weekly moving averages, and 42% above its 200-week average.
PAY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $30.5 | $31.6 | +3.4% |
| 2022 | $31.6 | $7.16 | -77% |
| 2023 | $7.16 | $17.9 | +150% |
| 2024 | $17.9 | $33.0 | +85% |
| 2025 | $33.0 | $31.5 | -4.6% |
| 2026 YTD | $31.5 | $33.8 | +7.2% |
PAY's yearly returns have swung widely, from +150% in 2023 to −77% in 2022. It's up 7.2% so far in 2026.