PAYC
Paycom Software, Inc.
PAYC has the edge over SNDK overall, supported by lower modeled downside and stronger valuation.
SNDK
Sandisk Corporation
SNDK offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
PAYC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
PAYC's revenue, profitability, cash flow and balance sheet are all currently healthy.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
PAYC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $249 | — |
| Cheap | 21x | $216 | -13% |
| Current | 24x | $249 | — |
| Fair | 57x | $591 | +138% |
| Expensive | 127x | $1,325 | +433% |
Historical ranges are pointers, not guarantees.
PAYC's PE is in its cheap range at 24x. If earnings grow as analysts expect, today's price would be 17x next year's earnings.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over PAYC in the historical PE scenario, which offers more potential upside but is not a forecast.
PAYC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for PAYC, with profitability improving. However, they disagree widely on these estimates.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for SNDK, with profitability improving.
PAYC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.94 | +43% |
| Q3 2026 | $10.43 | +29% |
| Q2 2026 | $9.40 | +27% |
| Q1 2026 | $8.64 | +23% |
| Q4 2025 | $8.08 | -9.4% |
| Q3 2025 | $8.06 | -2.8% |
| Q2 2025 | $7.41 | -11% |
| Q1 2025 | $7.03 | -14% |
| Q4 2024 | $8.92 | +52% |
PAYC earned $10.43 per share over the past year, up 29% from the year before.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over PAYC in the latest year-over-year earnings comparison.
PAYC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $543.8M | +10% |
| Q2 2026 | $531.2M | +9.8% |
| Q1 2026 | $571.9M | +7.8% |
| Q4 2025 | $544.3M | +10% |
| Q3 2025 | $493.3M | +9.2% |
| Q2 2025 | $483.6M | +11% |
| Q1 2025 | $530.5M | +6.1% |
| Q4 2024 | $493.9M | +14% |
PAYC's revenue has grown year over year every quarter since late 2020: $544M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 36% | +13 points |
| Q2 2026 | 32% | +8.5 points |
| Q1 2026 | 37% | +1.9 points |
| Q4 2025 | 29% | -1.2 points |
| Q3 2025 | 23% | -0.4 points |
| Q2 2025 | 23% | +1.5 points |
| Q1 2025 | 35% | -22 points |
| Q4 2024 | 30% | +5.5 points |
PAYC's operating margin was 36% last quarter, up 13 points from the same quarter a year ago.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over PAYC on profitability, with a higher operating margin.
PAYC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $163.8M | +105% |
| Q2 2026 | $190.1M | +213% |
| Q1 2026 | $182.6M | +26% |
| Q4 2025 | $122.6M | +12% |
| Q3 2025 | $79.8M | +79% |
| Q2 2025 | $60.8M | -30% |
| Q1 2025 | $144.8M | +43% |
| Q4 2024 | $109M | +41% |
PAYC has the edge over SNDK on cash flow, with more consistent year-over-year improvement.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK generated $17.4B in free cash flow over the past year, more than ten times what it generated the year before.
PAYC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.1% | -1.4M shares |
| 1 year | -21% | -11.9M shares |
| 3 years | -23% | -13.5M shares |
| 5 years | -24% | -13.7M shares |
| Available history | -24% | -13.9M shares |
PAYC has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.2M |
| Q2 2026 | $335.4M |
| Q1 2026 | $1.1B |
| Q4 2025 | $106.6M |
| Q4 2024 | $1,000 |
| Q3 2024 | $42M |
| Q4 2023 | $211.6M |
| Q4 2022 | — |
PAYC spent $1.5B buying back its own shares over the past year.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
PAYC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | -0.5x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.8x | Net Cash |
| Q1 2025 | -0.8x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
PAYC's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has the edge over PAYC on leverage, with a lower net debt burden relative to earnings.
PAYC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.8 | Neutral |
| Stochastic | 73.3 | Neutral |
PAYC's weekly RSI is 64 (neutral) and its Stochastic is 73 (neutral).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
PAYC PE vs Technology Sector
| Metric | PAYC | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 28x | 14% below |
| PE % | 20 | 35 | 15 pts below |
PAYC is trading at 24x earnings, a 14% discount to the Technology sector's median of 28x.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over PAYC on valuation relative to its sector.
PAYC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $243.8 | 2.1% above |
| 20 week MA | $213.2 | 17% above |
| 50 week MA | $167.3 | 49% above |
| 100 week MA | $191.7 | 30% above |
| 200 week MA | $209.8 | 19% above |
PAYC has stronger trend alignment. PAYC is above 5 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
PAYC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $268.9 | $462.1 | +72% |
| 2021 | $462.1 | $423.8 | -8.3% |
| 2022 | $423.8 | $305.2 | -28% |
| 2023 | $305.2 | $206.7 | -32% |
| 2024 | $206.7 | $206.7 | 0% |
| 2025 | $206.7 | $160.4 | -22% |
| 2026 YTD | $160.4 | $248.8 | +55% |
PAYC is up 55% so far in 2026, after finishing lower in five of the previous six years.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over PAYC on returns for 2026, with the stronger performance.