PAYC Paycom Software, Inc. Common Stock
$221.58
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$105–$235
90% of range
Analyst Rating
HOLD
27 analysts
Price Target
$204
P/E (TTM)
27.4
ROE
26.3%
Net Profit Margin
22.1%
About Paycom Software, Inc. Common Stock Company overview from Wikipedia
Paycom Software, Inc., known simply as Paycom, is an online payroll and human resource software provider based in Oklahoma City, Oklahoma, with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. Founded in 1998, it reported annual revenue of $2.052 billion for 2025, up from $1.883 billion for 2024.
Read more
Paycom Software, Inc., known simply as Paycom, is an online payroll and human resource software provider based in Oklahoma City, Oklahoma, with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. Founded in 1998, it reported annual revenue of $2.052 billion for 2025, up from $1.883 billion for 2024.
## History
Paycom was founded in 1998 by Chad Richison, who previously worked in the payroll processing industry. It began as an online payroll service provider for businesses, and expanded to offer additional services including human resource management in 2001. On April 15, 2014, Paycom opened for trade on the New York Stock Exchange under the ticker symbol PAYC.
In 2011, it released additional services including E-Verify, onboarding, expense management, and document storage. In 2014, Paycom built a 90,000-square-foot addition to its headquarters—effectively doubling the size of its offices. The company completed construction on its third and fourth buildings (in 2016 and 2018, respectively). In 2024, it opened its fifth building, bringing the total square-footage of its corporate campus to 815,000. In May 2022, Paycom held a grand opening ceremony for a new 150,000 square-foot operations center in Grapevine, Texas.
CEO Chad Richison was the highest paid executive in the United States in 2020, earning $211.13 million from Paycom as part of a 10-year performance contract. The compensation consists mostly of stock shares that only vest if the company reaches specific stock price benchmarks by 2026 and 2030.
In 2021, Paycom announced the release of Beti, an enhancement to its payroll system allowing employees to complete their own payroll. Later that year, they bought the naming rights to the Paycom Center, home of the Oklahoma City Thunder.
In 2023, the company expanded its Global HCM offerings, providing access in more than 190 countries.
In December 2023, Paycom announced its next step in HR automation, GONE, a decisioning logic enhancement to existing Time-Off Request software.
In July 2025, Paycom launched IWant™, a command-driven AI engine allowing users to seek information about employee data without having to navigate through the software.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
PAYC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$221.57
Market Cap
$12.14B
P/E (TTM)
27.4
EPS (TTM)
$8.08
Revenue (TTM)
$2.05B
Div Yield
0.70%
ROE
26.3%
Debt/Equity
—
52W Range
$105 – $235
PAYC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$2.05B
2016-12-31
→
2025-12-31
EPS
$8.08
2016-12-31
→
2025-12-31
Free Cash Flow
$408M
2016-12-31
→
2025-12-31
Margins
22.1%
2024-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PAYC
Peer Median
P/E (TTM)
27.4
25.2
P/S (TTM)
5.9
1.7
P/B
7.0
6.6
Price / FCF
29.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PAYC
Peer Median
Gross Margin
83.2%
46.4%
Operating Margin
27.7%
—
Net Profit Margin
22.1%
6.4%
ROA
6.7%
4.9%
ROE
26.3%
16.5%
ROIC
24.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PAYC
Peer Median
Current Ratio
1.1
1.1
Quick Ratio
0.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PAYC
Peer Median
Revenue YoY
8.9%
—
Revenue CAGR 3Y
14.3%
—
Revenue CAGR 5Y
19.5%
—
EPS YoY
-9.4%
—
Net Income YoY
-9.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PAYC
Peer Median
Payout Ratio
18.7%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.70%
Payout Ratio
18.7%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| May 26, 2026 | $0.3750 |
| March 9, 2026 | $0.3750 |
| Nov. 24, 2025 | $0.3750 |
| Aug. 25, 2025 | $0.3750 |
| May 27, 2025 | $0.3750 |
| March 10, 2025 | $0.3750 |
| Nov. 25, 2024 | $0.3750 |
| Aug. 26, 2024 | $0.3750 |
| May 24, 2024 | $0.3750 |
| March 1, 2024 | $0.3750 |
| Nov. 24, 2023 | $0.3750 |
| Aug. 25, 2023 | $0.3750 |
| May 26, 2023 | $0.3750 |
PAYC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
27 analysts
- Strong Buy 5 18.5%
- Buy 7 25.9%
- Hold 15 55.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
16 analysts · 2026-08-15
Median
$205.00
Now
$221.57
Low
$140.00
High
$270.00
Median target
$205.00
-7.5%
Mean target
$203.81
-8.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.13%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $2.78 | $2.42 | 0.36% |
| March 31, 2026 | $3.15 | $3.05 | 0.10% |
| Dec. 31, 2025 | $2.45 | $2.48 | -0.03% |
| Sept. 30, 2025 | $1.94 | $1.99 | -0.05% |
| June 30, 2025 | $2.06 | $1.82 | 0.24% |
| March 31, 2025 | $2.80 | $2.61 | 0.19% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PAYC | $8.73B | 19.7 | 8.9% | 22.1% | 26.3% | 83.2% |
| ADP | $89.09B | 20.5 | 6.7% | 20.1% | 71.0% | — |
| PAYX | $34.49B | 19.8 | 16.9% | 27.0% | 46.2% | — |
| PCTY | $5.57B | 21.2 | 11.0% | 15.2% | 23.3% | 69.2% |
| RHI | $2.75B | 20.4 | -7.2% | 2.5% | 10.3% | 37.2% |
| KFY | $3.34B | 12.7 | 6.4% | 9.4% | 14.4% | — |
| FA | $2.53B | -72.7 | 83.0% | -2.2% | -2.7% | — |
| TNET | $2.80B | 18.5 | -0.85% | 3.1% | 192.6% | — |
| MAN | — | -102.5 | 0.58% | -0.07% | -0.64% | 16.7% |
| NSP | $1.46B | -203.8 | 3.5% | -0.10% | -8.9% | 13.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.05B | $1.88B | $1.69B | $1.38B | $1.06B | $841M | $738M | $566M | $433M | $329M | $225M | $151M | |
| Cost of Revenue | $345M | $335M | $276M | $213M | $162M | $124M | $110M | $91M | $72M | $54M | $35M | $27M | |
| Gross Profit | $1.71B | $1.55B | $1.42B | $1.16B | · | · | · | · | · | · | · | · | |
| R&D Expense | $283M | $243M | $199M | $148M | $118M | $90M | $73M | $46M | $30M | $21M | $9M | $4M | |
| SG&A Expense | $1.14B | $914M | $966M | $784M | $640M | $532M | $402M | $302M | $231M | $173M | $155M | $108M | |
| Operating Expenses | $1.48B | $1.25B | $1.24B | $996M | $802M | $655M | $511M | $393M | $303M | $227M | $190M | $135M | |
| Operating Income | $567M | $634M | $451M | $379M | $254M | $186M | $226M | $174M | $130M | $102M | $34M | $16M | |
| Interest Expense | $3M | $3M | $2M | $2M | · | $19.0K | $940.0K | $766.0K | $911.0K | $1M | $1M | $3M | |
| Other Non-op | $56M | $18M | $23M | $13M | $2M | $-168.0K | $803.0K | $2M | $-1M | $308.0K | $517.0K | $1M | |
| Pretax Income | $619M | $649M | $472M | $390M | $256M | $186M | $226M | $175M | $128M | $101M | $34M | $10M | |
| Income Tax | $166M | $147M | $132M | $108M | $60M | $42M | $46M | $38M | $4M | $31M | $13M | $4M | |
| Net Income | $453M | $502M | $341M | $281M | $196M | $143M | $181M | $137M | $123M | $70M | $21M | $6M | |
| EPS (Basic) | $8.13 | $8.93 | $5.91 | $4.86 | $3.39 | $2.49 | $3.14 | $2.37 | $2.13 | $1.21 | $0.37 | $0.11 | |
| EPS (Diluted) | $8.08 | $8.92 | $5.88 | $4.84 | $3.37 | $2.46 | $3.09 | $2.34 | $2.10 | $1.19 | $0.36 | $0.11 | |
| Shares (Basic) | 55,800,000 | 56,200,000 | 57,700,000 | 57,900,000 | 57,885,000 | 57,620,000 | 57,561,000 | 57,711,000 | 57,839,000 | 57,550,204 | 56,495,170 | 49,784,154 | |
| Shares (Diluted) | 56,100,000 | 56,300,000 | 58,000,000 | 58,200,000 | 58,191,000 | 58,285,000 | 58,395,000 | 58,582,000 | 58,790,000 | 58,968,099 | 57,919,700 | 51,857,309 | |
| EBITDA | $744M | $780M | $565M | $471M | $321M | $239M | $268M | $203M | $98M | $72M | $44M | $7M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $370M | $402M | $294M | $401M | $278M | $152M | $134M | $46M | $46M | $60M | $51M | $25M | |
| Receivables | $45M | $39M | $16M | $23M | $9M | $9M | $9M | $3M | $2M | $1M | $2M | $3M | |
| Inventory | $2M | $1M | $1M | $2M | $1M | $1M | $1M | $797.0K | $979.0K | $675.0K | $1M | $195.0K | |
| Prepaid Expense | $48M | $44M | $38M | $34M | $24M | $18M | $14M | $8M | $5M | $4M | $4M | $2M | |
| Current Assets | $5.84B | $4.30B | $2.81B | $2.76B | $2.25B | $1.86B | $1.87B | $1.06B | $1.18B | $926M | $761M | $692M | |
| PP&E (Net) | · | · | $498M | $402M | $349M | $285M | $238M | $177M | $148M | $97M | $59M | $48M | |
| PP&E (Gross) | $1.39B | $1.09B | $810M | $664M | $546M | $380M | $303M | $242M | $152M | $109M | $68M | $56M | |
| Accum. Depreciation | $744M | $576M | $437M | $331M | $243M | $178M | $125M | $83M | $54M | $36M | $25M | $17M | |
| Goodwill | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | |
| Intangibles | $37M | $46M | $50M | $54M | $58M | $319.0K | $532.0K | $745.0K | $958.0K | $2M | $3M | $5M | |
| Other Non-current Assets | $36M | $31M | $30M | $62M | $42M | $35M | $33M | $3M | · | · | · | · | |
| Total Assets | $7.60B | $5.86B | $4.20B | $3.90B | $3.22B | $2.61B | $2.49B | $1.52B | $1.55B | $1.08B | $877M | $797M | |
| Accounts Payable | $7M | $24M | $14M | $16M | $6M | $7M | $5M | $6M | $6M | $4M | $5M | $3M | |
| Current Liabilities | $5.37B | $3.91B | $2.53B | $2.38B | $1.99B | $1.72B | $1.75B | $1.03B | $1.14B | $899M | $728M | $679M | |
| Capital Leases | $62M | $63M | $57M | · | · | · | $18M | · | · | · | · | · | |
| Deferred Tax | $304M | $150M | $144M | $141M | $146M | $113M | $91M | $70M | $49M | · | $641.0K | $2M | |
| Other Non-current Liabilities | $11M | $50M | $52M | $75M | $73M | $19M | $20M | · | · | · | · | · | |
| Total Liabilities | $5.87B | $4.28B | $2.89B | $2.72B | $2.32B | $1.95B | $1.96B | $1.19B | $1.27B | · | · | · | |
| Long-term Debt | · | · | · | $29M | $29M | $31M | $33M | $34M | $35M | $30M | $26M | $27M | |
| Total Debt | · | · | · | $29M | $29M | $31M | $33M | $34M | $35M | $30M | $26M | $27M | |
| Common Stock | $600.0K | $600.0K | $600.0K | $625.0K | $623.0K | $618.0K | $613.0K | $607.0K | $601.0K | $585.0K | $571.0K | $538.0K | |
| Retained Earnings | $2.26B | $1.89B | $1.47B | $1.20B | $916M | $720M | $576M | $396M | $259M | $70M | $27M | $6M | |
| Treasury Stock | $1.40B | $1.04B | $891M | $588M | $488M | $423M | $308M | $265M | $140M | $50M | · | · | |
| AOCI | $300.0K | $-600.0K | $-1M | $-4M | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $1.73B | $1.58B | $1.30B | $1.18B | $894M | $656M | $527M | $335M | $281M | $206M | $98M | $74M | |
| Liabilities + Equity | $7.60B | $5.86B | $4.20B | $3.90B | $3.22B | $2.61B | $2.49B | $1.52B | $1.55B | $1.08B | $877M | $797M | |
| Shares Outstanding | 54,800,000 | 55,900,000 | 56,500,000 | 57,867,000 | 58,012,000 | 57,739,000 | 57,660,000 | 57,277,000 | 57,788,573 | 57,331,022 | 57,119,873 | 53,832,782 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $176M | $146M | $114M | $93M | $67M | $53M | $42M | $30M | $19M | $14M | $9M | $7M | |
| Stock-based Comp | $119M | $-23M | $130M | $95M | $98M | $90M | $47M | $37M | $36M | $21M | $3M | $712.0K | |
| Deferred Tax | $154M | $6M | $6M | $-3M | $33M | $21M | $21M | $21M | $-8M | $15M | $-1M | $2M | |
| Amort. of Intangibles | $9M | $4M | $4M | $4M | $2M | $200.0K | $200.0K | $200.0K | $900.0K | $2M | $2M | $2M | |
| Other Non-cash | $-224M | $-97M | $-105M | $-101M | $-74M | $-81M | $-67M | $-40M | $8M | $21M | $11M | $7M | |
| Operating Cash Flow | $679M | $534M | $485M | $365M | $319M | $227M | $224M | $185M | $130M | $99M | $43M | $22M | |
| CapEx | $271M | $193M | $193M | $133M | $121M | $94M | $93M | $60M | $59M | $44M | $17M | $14M | |
| Investing Cash Flow | $-611M | $-22M | $-197M | $-23M | $-258M | $-118M | $-220M | $-49M | $16M | $-205M | · | · | |
| Debt Issued | · | · | · | · | · | · | · | · | $41M | $5M | · | $7M | |
| Net Debt Issued | · | · | $-29M | $-29M | $-2M | $-2M | $-2M | $-888.0K | $6M | $4M | $-1M | $7M | |
| Stock Repurchased | $326M | $123M | $287M | $95M | · | $52M | · | $105M | $57M | $36M | · | · | |
| Net Stock Activity | $-326M | $-123M | $-287M | $-95M | · | $-52M | · | $-105M | $-57M | $-36M | · | · | |
| Dividends Paid | $85M | $85M | $65M | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $1.02B | $1.11B | $-275M | $255M | $166M | $-166M | $651M | $-248M | $146M | $116M | · | · | |
| Net Change in Cash | · | · | · | · | · | · | · | $-359.0K | $-14M | $9M | $26M | $12M | |
| Taxes Paid | $78M | $135M | $139M | $101M | $33M | $28M | $25M | $14M | $18M | $9M | $19M | $2M | |
| Free Cash Flow | $408M | $341M | $292M | $232M | $199M | $133M | $131M | $125M | $71M | $55M | $26M | $8M | |
| Levered FCF | $406M | $338M | $291M | $231M | · | $133M | $131M | $124M | $70M | $54M | $26M | $6M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.2% | 82.2% | · | · | · | · | · | · | · | · | · | · | |
| Operating Margin | 27.7% | 33.7% | 26.7% | 27.5% | 24.0% | 22.1% | 30.7% | · | 18.2% | 17.6% | 15.3% | · | |
| Net Margin | 22.1% | 26.7% | 20.1% | 20.5% | 18.6% | 17.1% | 24.5% | · | 15.4% | 13.3% | 9.3% | 3.8% | |
| Pretax Margin | 30.2% | 34.5% | 27.9% | 28.3% | 24.2% | 22.1% | 30.6% | · | 17.7% | 17.4% | 14.9% | 6.4% | |
| EBITDA Margin | 36.2% | 41.4% | 33.4% | 34.3% | 30.4% | 28.5% | 36.4% | · | 22.6% | 21.8% | 19.5% | 4.8% | |
| ROA | 6.7% | 10.0% | 8.4% | 7.9% | 6.7% | 5.6% | 9.0% | 8.9% | 5.5% | 4.5% | 2.5% | 0.82% | |
| ROE | 26.3% | 33.0% | 25.0% | 24.9% | 22.8% | 22.3% | 36.1% | 39.4% | 39.2% | 40.8% | 24.3% | 14.3% | |
| ROIC | 24.0% | 31.1% | 25.0% | 22.6% | 21.0% | 20.9% | 32.3% | 36.9% | 40.2% | 30.3% | 17.3% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.1 | 1.1 | 1.2 | 1.1 | 1.1 | 1.1 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 | 0.0 | |
| Debt / Equity | · | · | · | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.3 | 0.3 | 0.3 | 0.4 | |
| LT Debt / Equity | · | · | · | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.3 | 0.2 | 0.3 | 0.4 | |
| Interest Coverage | 166.8 | 186.6 | 234.2 | 149.3 | · | 9795.9 | 240.7 | 226.8 | 86.3 | 56.0 | 24.1 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 | 0.4 | · | 0.4 | 0.3 | 0.3 | 0.2 | |
| Inventory Turnover | 222.8 | 239.0 | 184.8 | 155.4 | 141.9 | 107.0 | 112.3 | 102.2 | 87.1 | 61.2 | 55.1 | 70.7 | |
| Receivables Turnover | 48.8 | 67.7 | 86.2 | 85.1 | 113.4 | 91.3 | 116.1 | · | 297.1 | 178.3 | 87.3 | 67.1 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.9% | 11.2% | 23.2% | 30.3% | 25.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 14.3% | 21.3% | 26.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 19.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -9.4% | 51.7% | 21.5% | 43.6% | 37.0% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 18.6% | 38.3% | 33.7% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 26.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -9.7% | 47.3% | 21.1% | 43.6% | 36.6% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 17.2% | 36.8% | 33.4% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 25.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.05B | $1.88B | $1.69B | $1.38B | $1.06B | $841M | $738M | $566M | $433M | $329M | $225M | $151M | |
| Net Income TTM | $453M | $502M | $341M | $281M | $196M | $143M | $181M | $137M | $123M | $70M | $21M | $6M | |
| Market Cap | $8.73B | $11.46B | $11.69B | $17.96B | $24.09B | $26.11B | $15.27B | $7.01B | $4.64B | $2.61B | $2.15B | $1.42B | |
| Enterprise Value | · | · | · | $17.58B | $23.84B | $25.99B | $15.17B | $7.00B | $4.63B | $2.58B | $2.12B | $1.42B | |
| P/E | 19.7 | 23.0 | 35.2 | 64.1 | 123.2 | 183.8 | 85.7 | 52.3 | 38.3 | 38.2 | 104.5 | 239.4 | |
| P/S | 4.3 | 6.1 | 6.9 | 13.1 | 22.8 | 31.0 | 20.7 | 12.4 | 10.7 | 7.9 | 9.6 | 9.4 | |
| P/B | 5.0 | 7.3 | 9.0 | 15.2 | 27.0 | 39.8 | 29.0 | 21.0 | 34.3 | 22.4 | 21.9 | 19.1 | |
| P / Tangible Book | 5.3 | 7.8 | 9.7 | 16.7 | 30.7 | 43.3 | · | · | · | · | · | · | |
| P / Cash Flow | 12.9 | 21.5 | 24.1 | 49.2 | 75.4 | 114.9 | 68.1 | 37.9 | 35.5 | 26.4 | 50.0 | 63.5 | |
| P / FCF | 21.4 | 33.6 | 40.0 | 77.3 | 121.2 | 196.2 | 116.2 | 56.1 | 65.2 | 47.3 | 81.3 | 175.7 | |
| EV / EBITDA | · | · | · | 37.3 | 74.3 | 108.5 | 56.5 | 34.4 | 47.2 | 36.0 | 48.4 | 198.2 | |
| EV / FCF | · | · | · | 75.7 | 120.0 | 195.3 | 115.5 | 56.1 | 65.0 | 46.7 | 80.4 | 175.9 | |
| EV / Revenue | · | · | · | 12.8 | 22.6 | 30.9 | 20.6 | 12.4 | 10.7 | 7.8 | 9.5 | 9.4 | |
| Dividend Yield | 0.97% | 0.74% | 0.55% | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 5.1% | 4.3% | 2.8% | 1.6% | 0.81% | 0.54% | 1.2% | 1.9% | 2.6% | 2.6% | 0.96% | 0.42% | |
| Payout Ratio | 18.7% | 16.9% | 19.0% | · | · | · | · | · | · | · | · | · | |
| Annual Payout | $85M | $85M | $65M | · | · | · | · | · | · | · | · | · |
Income Statement 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $531M | $572M | $544M | $493M | $484M | $530M | $494M | $452M | $438M | $500M | $435M | $406M | $401M | $452M | $371M | $334M | |
| Cost of Revenue | $89M | $87M | $88M | $85M | $88M | $85M | $84M | $88M | $84M | $79M | $75M | $69M | $67M | $65M | $59M | $55M | |
| Gross Profit | $442M | $484M | $456M | $408M | $396M | $446M | $410M | $364M | $354M | $421M | · | · | · | · | · | · | |
| R&D Expense | $52M | $61M | $72M | $74M | $75M | $62M | $67M | $63M | $62M | $50M | $55M | $52M | $49M | $43M | $40M | $40M | |
| SG&A Expense | $274M | $274M | $299M | $295M | $284M | $261M | $262M | $259M | $258M | $135M | $253M | $240M | $246M | $226M | $206M | $205M | |
| Operating Expenses | $363M | $362M | $387M | $381M | $371M | $345M | $345M | $347M | $342M | $214M | $328M | $309M | $314M | $291M | $265M | $260M | |
| Operating Income | $168M | $210M | $157M | $113M | $112M | $185M | $148M | $105M | $95M | $286M | $107M | $97M | $87M | $160M | $106M | $74M | |
| Interest Expense | $10M | $4M | $700.0K | $1M | $800.0K | $800.0K | $1M | $800.0K | $800.0K | $800.0K | $239.0K | $222.0K | $602.0K | $837.0K | $913.0K | $1M | |
| Other Non-op | $-1M | $9M | $3M | $41M | $6M | $6M | $4M | $4M | $5M | $5M | $5M | $5M | $6M | $6M | $9M | $2M | |
| Pretax Income | $157M | $215M | $159M | $153M | $117M | $190M | $152M | $108M | $99M | $290M | $112M | $102M | $93M | $166M | $114M | $75M | |
| Income Tax | $50M | $60M | $45M | $42M | $28M | $51M | $38M | $35M | $31M | $43M | $30M | $27M | $28M | $46M | $34M | $23M | |
| Net Income | $107M | $156M | $114M | $111M | $90M | $139M | $114M | $73M | $68M | $247M | $82M | $75M | $65M | $119M | $80M | $52M | |
| EPS (Basic) | $2.34 | $3.05 | $2.08 | $1.97 | $1.59 | $2.49 | $2.05 | $1.31 | $1.20 | $4.37 | $1.44 | $1.30 | $1.11 | $2.06 | $1.39 | $0.90 | |
| EPS (Diluted) | $2.34 | $3.04 | $2.06 | $1.96 | $1.58 | $2.48 | $2.04 | $1.31 | $1.20 | $4.37 | $1.41 | $1.30 | $1.11 | $2.06 | $1.37 | $0.90 | |
| Shares (Basic) | 45,800,000 | 51,100,000 | -112,400,000 | 56,100,000 | 56,100,000 | 56,000,000 | -112,700,000 | 55,900,000 | 56,500,000 | 56,500,000 | -115,912,000 | 57,825,000 | 57,920,000 | 57,867,000 | -115,948,000 | 57,865,000 | |
| Shares (Diluted) | 45,900,000 | 51,200,000 | -113,100,000 | 56,400,000 | 56,500,000 | 56,300,000 | -113,100,000 | 56,000,000 | 56,800,000 | 56,600,000 | -115,990,000 | 57,966,000 | 58,033,000 | 57,991,000 | -116,119,000 | 58,033,000 | |
| EBITDA | $168M | $261M | · | $113M | $112M | $225M | · | $105M | $95M | $318M | · | $97M | $87M | $187M | · | $74M |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $198M | $154M | $370M | $375M | $532M | $521M | $402M | $326M | $346M | $371M | $294M | $484M | $537M | $506M | $401M | $317M | |
| Receivables | $54M | $51M | $45M | $50M | $40M | $31M | $39M | $21M | $20M | $20M | · | $16M | $16M | $18M | · | $15M | |
| Inventory | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $2M | · | $836.0K | $874.0K | $887.0K | · | $1M | |
| Prepaid Expense | $54M | $58M | $48M | $63M | $56M | $49M | $44M | $46M | $47M | $51M | · | $41M | $43M | $40M | · | $40M | |
| Current Assets | $3.48B | $3.07B | $5.84B | $2.54B | $2.40B | $2.99B | $4.30B | $1.98B | $2.85B | $3.30B | · | $2.56B | $2.71B | $3.05B | · | $2.23B | |
| PP&E (Net) | · | · | · | · | · | · | · | · | $532M | $520M | · | $468M | $445M | $421M | · | $384M | |
| PP&E (Gross) | $1.44B | $1.42B | $1.39B | $1.32B | $1.20B | $1.13B | $1.09B | $1.05B | $985M | $848M | · | $766M | $729M | $696M | · | $633M | |
| Accum. Depreciation | $836M | $791M | $744M | $697M | $656M | $615M | $576M | $538M | $502M | $468M | · | $409M | $382M | $356M | · | $307M | |
| Goodwill | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | · | $52M | $52M | $52M | · | $52M | |
| Intangibles | $31M | $34M | $37M | $41M | $44M | $45M | $46M | $47M | $48M | $49M | · | $51M | $52M | $53M | · | $55M | |
| Other Non-current Assets | $42M | $34M | $36M | $33M | $31M | $31M | $31M | $31M | $107M | $103M | · | $76M | $70M | $59M | · | $59M | |
| Total Assets | $5.20B | $4.82B | $7.60B | $4.25B | $4.03B | $4.57B | $5.86B | $3.49B | $4.31B | $4.73B | · | $3.86B | $3.95B | $4.24B | · | $3.31B | |
| Accounts Payable | $8M | $9M | $7M | $20M | $20M | $9M | $24M | $35M | $15M | $21M | · | $7M | $8M | $10M | · | $10M | |
| Current Liabilities | $3.24B | $2.84B | $5.37B | $2.08B | $1.85B | $2.48B | $3.91B | $1.66B | $2.53B | $2.94B | · | $2.07B | $2.19B | $2.57B | · | $1.90B | |
| Capital Leases | $54M | $60M | $62M | $61M | $59M | $60M | $63M | $61M | · | · | · | · | · | · | · | · | |
| Deferred Tax | $305M | $307M | $304M | $259M | $150M | $144M | $150M | $140M | $136M | $133M | · | $145M | $143M | $140M | · | $139M | |
| Other Non-current Liabilities | $7M | $7M | $11M | $16M | $51M | $50M | $50M | $54M | $112M | $110M | · | $85M | $83M | $73M | · | $78M | |
| Total Liabilities | $4.63B | $4.01B | $5.87B | $2.54B | $2.23B | $2.86B | $4.28B | $2.03B | $2.89B | $3.30B | · | $2.43B | $2.54B | $2.91B | · | $2.24B | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $29M | |
| Total Debt | $900M | $675M | · | · | · | · | · | · | · | · | · | $29M | $29M | $29M | · | $29M | |
| Common Stock | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $629.0K | $629.0K | $627.0K | · | $627.0K | $626.0K | $625.0K | · | $625.0K | |
| Retained Earnings | $2.48B | $2.39B | $2.26B | $2.16B | $2.07B | $2.01B | $1.89B | $1.80B | $1.74B | $1.70B | · | $1.41B | $1.36B | $1.32B | · | $1.12B | |
| Treasury Stock | $2.82B | $2.47B | $1.40B | $1.30B | $1.07B | $1.04B | $1.04B | $1.03B | $985M | $894M | · | $676M | $599M | $589M | · | $588M | |
| AOCI | $-500.0K | $-600.0K | $300.0K | $400.0K | $200.0K | $-100.0K | $-600.0K | $-180.0K | $-305.0K | $-495.0K | · | $-2M | $-3M | $-3M | · | $-4M | |
| Stockholders' Equity | $572M | $812M | $1.73B | $1.71B | $1.80B | $1.72B | $1.58B | $1.46B | $1.43B | $1.44B | $1.30B | $1.42B | $1.41B | $1.33B | $1.18B | $1.08B | |
| Liabilities + Equity | $5.20B | $4.82B | $7.60B | $4.25B | $4.03B | $4.57B | $5.86B | $3.49B | $4.31B | $4.73B | · | $3.86B | $3.95B | $4.24B | · | $3.31B | |
| Shares Outstanding | 44,300,000 | 46,600,000 | 54,800,000 | 55,300,000 | 56,200,000 | 56,000,000 | 55,900,000 | 55,885,000 | 56,151,000 | 56,557,000 | · | 57,700,000 | 57,949,000 | 57,872,000 | · | 57,867,000 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $50M | $51M | $49M | $45M | $42M | $40M | $40M | $38M | $36M | $32M | $31M | $29M | $28M | $26M | $25M | $24M | |
| Stock-based Comp | $18M | $14M | $27M | $31M | $38M | $22M | $23M | $24M | $24M | $-94M | $33M | $33M | $35M | $28M | $24M | $24M | |
| Amort. of Intangibles | $3M | $3M | $3M | $3M | $1M | $1M | $900.0K | $1M | $1M | $1M | $-100.0K | $1M | $2M | $1M | $100.0K | $900.0K | |
| Other Non-cash | · | $-7M | · | · | · | $-19M | · | · | · | $-37M | · | · | · | $-27M | · | · | |
| Operating Cash Flow | $214M | $214M | $196M | $178M | $122M | $182M | $160M | $93M | $132M | $149M | $134M | $99M | $106M | $146M | $128M | $68M | |
| CapEx | $24M | $31M | $74M | $98M | $62M | $38M | $51M | $48M | $46M | $48M | $57M | $52M | $43M | $41M | $41M | $24M | |
| Investing Cash Flow | $-24M | $-31M | $48M | $-94M | $-185M | $-380M | $-56M | $-38M | $29M | $42M | $-61M | $-52M | $-43M | $-41M | $9M | $-10M | |
| Debt Issued | $225M | $675M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Debt Issued | · | $675M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $335M | $1.05B | $107M | · | · | · | $0 | $42M | · | · | $212M | · | · | · | $48.0K | $0 | |
| Net Stock Activity | · | $-1.05B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $18M | $18M | $21M | $21M | $22M | $21M | $21M | $21M | $21M | $21M | $21M | $22M | · | · | · | · | |
| Financing Cash Flow | $235M | $-2.91B | $3.19B | $-39M | $-677M | $-1.45B | $2.20B | $-929M | $-536M | $376M | $163M | $-203M | $-417M | $183M | $453M | $-1.68B | |
| Free Cash Flow | · | $183M | · | · | · | $145M | · | · | · | $101M | · | · | · | $105M | · | · | |
| Levered FCF | · | $180M | · | · | · | $144M | · | · | · | $100M | · | · | · | $105M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.2% | 84.7% | · | 82.7% | 81.9% | 84.0% | · | · | · | · | · | · | · | · | · | · | |
| Operating Margin | 31.7% | 36.8% | · | 22.8% | 23.2% | 34.9% | · | 23.2% | 21.8% | 57.2% | · | 23.8% | 21.8% | 35.5% | · | 22.2% | |
| Net Margin | 20.2% | 27.2% | · | 22.4% | 18.5% | 26.3% | · | 16.2% | 15.5% | 49.5% | · | 18.5% | 16.1% | 26.4% | · | 15.6% | |
| Pretax Margin | 29.5% | 37.6% | · | 31.0% | 24.2% | 35.9% | · | 24.0% | 22.7% | 58.0% | · | 25.1% | 23.2% | 36.7% | · | 22.5% | |
| EBITDA Margin | 31.7% | 45.7% | · | 22.8% | 23.2% | 42.4% | · | 23.2% | 21.8% | 63.7% | · | 23.8% | 21.8% | 41.3% | · | 22.2% | |
| ROA | 2.3% | 3.3% | · | 2.9% | 2.1% | 3.0% | · | 2.0% | 1.6% | 5.5% | · | 2.1% | 1.5% | 2.5% | · | 1.4% | |
| ROE | 9.0% | 12.3% | · | 7.0% | 5.5% | 8.8% | · | 5.1% | 4.8% | 17.8% | · | 6.0% | 5.4% | 10.2% | · | 5.5% | |
| ROIC | 7.8% | 10.2% | · | 4.8% | 4.8% | 7.9% | · | 4.8% | 4.6% | 16.9% | · | 4.9% | 4.2% | 8.5% | · | 4.7% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.1 | · | 1.2 | 1.3 | 1.2 | · | 1.2 | 1.1 | 1.1 | · | 1.2 | 1.2 | 1.2 | · | 1.2 | |
| Quick Ratio | 0.1 | 0.1 | · | 0.2 | 0.3 | 0.2 | · | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.3 | 0.2 | · | 0.2 | |
| Debt / Equity | 1.6 | 0.8 | · | · | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| LT Debt / Equity | 1.6 | 0.8 | · | · | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Interest Coverage | 16.0 | 52.5 | · | 102.4 | 140.4 | 231.4 | · | 132.9 | 121.7 | 365.5 | · | 436.5 | 145.0 | 191.7 | · | 73.0 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 54.0 | 60.2 | · | 54.6 | 58.0 | 52.8 | · | 81.5 | 73.3 | 58.4 | · | 59.8 | 53.5 | 80.6 | · | 47.2 | |
| Receivables Turnover | 11.4 | 13.8 | · | 13.9 | 16.1 | 20.7 | · | 25.0 | 24.2 | 26.4 | · | 26.7 | 22.1 | 25.3 | · | 24.0 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.08B | $2.08B | · | $1.96B | $1.90B | $1.92B | · | $1.80B | $1.74B | $1.76B | · | $1.59B | $1.50B | $1.46B | · | $1.26B | |
| Net Income TTM | $463M | $495M | · | $413M | $370M | $528M | · | $464M | $455M | $506M | · | $311M | $293M | $321M | · | $232M | |
| Market Cap | $5.57B | $5.66B | · | $11.51B | $13.00B | $12.23B | · | $9.31B | $8.03B | $11.26B | · | $14.96B | $18.62B | $17.59B | · | $19.10B | |
| Enterprise Value | $6.27B | $6.18B | · | · | · | · | · | · | · | · | · | $14.50B | $18.11B | $17.12B | · | $18.81B | |
| P/E | 14.1 | 13.4 | · | 28.4 | 35.2 | 23.3 | · | 20.4 | 17.9 | 22.5 | · | 48.3 | 63.5 | 55.0 | · | 82.7 | |
| P/S | 2.7 | 2.7 | · | 5.9 | 6.8 | 6.4 | · | 5.2 | 4.6 | 6.4 | · | 9.4 | 12.4 | 12.1 | · | 15.1 | |
| P/B | 9.7 | 7.0 | · | 6.7 | 7.2 | 7.1 | · | 6.4 | 5.6 | 7.8 | · | 10.5 | 13.2 | 13.2 | · | 17.7 | |
| P / Tangible Book | 11.4 | 7.8 | · | 7.1 | 7.6 | 7.6 | · | 6.8 | 6.1 | 8.4 | · | 11.3 | 14.3 | 14.3 | · | 19.7 | |
| P / Cash Flow | · | 26.5 | · | · | · | 67.0 | · | · | · | 75.7 | · | · | · | 120.4 | · | · | |
| P / FCF | · | 31.0 | · | · | · | 84.5 | · | · | · | 111.5 | · | · | · | 166.8 | · | · | |
| EV / EBITDA | 37.2 | 23.7 | · | · | · | · | · | · | · | · | · | 149.7 | 207.5 | 91.7 | · | 253.2 | |
| EV / FCF | · | 33.9 | · | · | · | · | · | · | · | · | · | · | · | 162.3 | · | · | |
| EV / Revenue | 3.0 | 3.0 | · | · | · | · | · | · | · | · | · | 9.1 | 12.0 | 11.8 | · | 14.9 | |
| Earnings Yield | 7.1% | 7.4% | · | 3.5% | 2.8% | 4.3% | · | 4.9% | 5.6% | 4.4% | · | 2.1% | 1.6% | 1.8% | · | 1.2% | |
| Payout Ratio | · | 11.4% | · | · | · | 15.1% | · | · | · | 8.6% | · | · | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $2.05B | $1.88B | $1.69B | $1.38B | $1.06B |
| Gross Margin % | 83.2% | 82.2% | — | — | — |
| Operating Margin % | 27.7% | 33.7% | 26.7% | 27.5% | 24.0% |
| Net Income | $453M | $502M | $341M | $281M | $196M |
| Diluted EPS | $8.08 | $8.92 | $5.88 | $4.84 | $3.37 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 0.0 | 0.0 |
| Current Ratio | 1.1 | 1.1 | 1.1 | 1.2 | 1.1 |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $408M | $341M | $292M | $232M | $199M |
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Institutional owners (13F) 669 filers · $3.8B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 116 (-18 vs prior Q) | 97 (-113 vs prior Q) | 191 (-30 vs prior Q) | 219 (+18 vs prior Q) | -2.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| HARRIS ASSOCIATES L P | $426,991,013 | 3,397,446 | 11.10% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $260,166,775 | 2,070,073 | 6.76% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $231,652,245 | 1,843,191 | 6.02% | Shares |
| TWO SIGMA INVESTMENTS, LP | $176,068,003 | 1,400,923 | 4.58% | Shares |
| STATE STREET CORP | $173,821,473 | 1,383,048 | 4.52% | Shares |
| REINHART PARTNERS, LLC. | $153,320,013 | 1,219,906 | 3.99% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $138,328,924 | 1,100,436 | 3.60% | Shares |
| FIRST TRUST ADVISORS LP | $122,431,511 | 974,155 | 3.18% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $108,540,767 | 863,628 | 2.82% | Shares |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA | $91,232,087 | 725,908 | 2.37% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $84,865,545 | 675,251 | 2.21% | Shares |
| Quantinno Capital Management LP | $73,088,643 | 581,545 | 1.90% | Shares |
| FMR LLC | $65,631,386 | 522,210 | 1.71% | Shares |
| River Road Asset Management, LLC | $65,619,916 | 522,119 | 1.71% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $64,714,517 | 514,915 | 1.68% | Shares |
| AMERICAN CENTURY COMPANIES INC | $59,531,600 | 473,676 | 1.55% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $54,443,571 | 433,192 | 1.42% | Shares |
| Sather Financial Group Inc | $48,353,620 | 384,736 | 1.26% | Shares |
| CONFLUENCE INVESTMENT MANAGEMENT LLC | $46,803,886 | 372,405 | 1.22% | Shares |
| Gotham Asset Management, LLC | $45,776,426 | 364,230 | 1.19% | Shares |
| TWO SIGMA ADVISERS, LP | $41,194,560 | 258,500 | 1.07% | Shares |
| EQUITY INVESTMENT CORP | $37,084,523 | 295,071 | 0.96% | Shares |
| GOLDMAN SACHS GROUP INC | $36,385,365 | 289,508 | 0.95% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $33,009,349 | 262,646 | 0.86% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $30,175,265 | 240,096 | 0.78% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $28,858,516 | 229,619 | 0.75% | Shares |
| Boston Trust Walden Corp | $23,958,052 | 190,627 | 0.62% | Shares |
| ALLIANCEBERNSTEIN L.P. | $23,631,022 | 194,430 | 0.61% | Shares |
| Marathon Asset Management Ltd | $22,944,837 | 182,561 | 0.60% | Shares |
| RAYMOND JAMES FINANCIAL INC | $22,131,533 | 176,094 | 0.58% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $20,297,320 | 161,500 | 0.53% | Put option |
| SYLEBRA CAPITAL LLC | $19,949,689 | 158,734 | 0.52% | Shares |
| Ninety One UK Ltd | $19,534,936 | 155,434 | 0.51% | Shares |
| Robeco Institutional Asset Management B.V. | $18,626,784 | 148,208 | 0.48% | Shares |
| Public Sector Pension Investment Board | $17,922,722 | 142,606 | 0.47% | Shares |
| ExodusPoint Capital Management, LP | $17,764,617 | 141,348 | 0.46% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $17,391,498 | 138,379 | 0.45% | Shares |
| GOLDMAN SACHS GROUP INC | $16,237,856 | 129,200 | 0.42% | Put option |
| CAPITAL FUND MANAGEMENT S.A. | $15,875,646 | 126,318 | 0.41% | Shares |
| CITADEL ADVISORS LLC | $15,797,976 | 125,700 | 0.41% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $15,458,640 | 123,000 | 0.40% | Call option |
| Trexquant Investment LP | $15,104,474 | 120,182 | 0.39% | Shares |
| MILLENNIUM MANAGEMENT LLC | $15,086,502 | 120,039 | 0.39% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $13,389,067 | 106,533 | 0.35% | Shares |
| Glenmede Investment Management, LP | $13,123,435 | 63,051 | 0.34% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $12,957,608 | 103,100 | 0.34% | Shares |
| DANSKE BANK A/S | $12,922,920 | 102,824 | 0.34% | Shares |
| BAILLIE GIFFORD & CO | $12,753,629 | 101,477 | 0.33% | Shares |
| Fundsmith LLP | $12,663,894 | 100,763 | 0.33% | Shares |
| Qube Research & Technologies Ltd | $11,868,088 | 94,431 | 0.31% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $11,410,176 | 71,600 | 0.30% | Shares |
| JANE STREET GROUP, LLC | $10,989,962 | 87,444 | 0.29% | Shares |
| Ruffer LLP | $10,948,453 | 87,209 | 0.28% | Shares |
| Corient Private Wealth LP | $10,803,306 | 85,962 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $10,585,974 | 84,230 | 0.28% | Shares |
| AMERIPRISE FINANCIAL INC | $10,565,038 | 84,063 | 0.27% | Shares |
| CITADEL ADVISORS LLC | $10,557,120 | 84,000 | 0.27% | Call option |
| CANADA PENSION PLAN INVESTMENT BOARD | $10,444,008 | 83,100 | 0.27% | Shares |
| AMIRAL GESTION | $10,234,397 | 84,206 | 0.27% | Shares |
| California Public Employees Retirement System | $10,185,107 | 81,040 | 0.26% | Shares |
| Engineers Gate Manager LP | $10,107,060 | 80,419 | 0.26% | Shares |
| Swiss National Bank | $9,978,992 | 79,400 | 0.26% | Shares |
| Ensign Peak Advisors, Inc | $9,949,457 | 79,165 | 0.26% | Shares |
| BlackRock, Inc. | $9,777,401 | 77,796 | 0.25% | Shares |
| PDT Partners, LLC | $9,774,636 | 77,774 | 0.25% | Shares |
| NORGES BANK | $9,739,572 | 77,495 | 0.25% | Shares |
| Man Group plc | $9,696,463 | 77,152 | 0.25% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $9,061,528 | 72,100 | 0.24% | Shares |
| Baader Bank Aktiengesellschaft | $8,734,760 | 69,500 | 0.23% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $8,527,765 | 67,853 | 0.22% | Shares |
| TUDOR INVESTMENT CORP ET AL | $8,207,532 | 65,305 | 0.21% | Shares |
| Legal & General Group Plc | $8,000,537 | 63,658 | 0.21% | Shares |
| JANE STREET GROUP, LLC | $7,993,248 | 63,600 | 0.21% | Put option |
| Associated Banc-Corp | $7,672,512 | 61,048 | 0.20% | Shares |
| WOLVERINE TRADING, LLC | $7,657,767 | 35,100 | 0.20% | Call option |
| LPL Financial LLC | $7,471,255 | 59,447 | 0.19% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $7,297,505 | 60,042 | 0.19% | Shares |
| Fisher Asset Management, LLC | $7,197,308 | 57,266 | 0.19% | Shares |
| BANK OF AMERICA CORP /DE/ | $7,008,168 | 55,762 | 0.18% | Shares |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI | $6,909,175 | 54,974 | 0.18% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $6,764,475 | 53,823 | 0.18% | Shares |
| Jump Financial, LLC | $6,434,816 | 51,200 | 0.17% | Shares |
| ALGERT GLOBAL LLC | $6,344,326 | 50,480 | 0.16% | Shares |
| JANE STREET GROUP, LLC | $6,321,704 | 50,300 | 0.16% | Call option |
| Lafayette Investments, Inc. | $6,124,794 | 48,733 | 0.16% | Shares |
| WOLVERINE TRADING, LLC | $5,999,675 | 27,500 | 0.16% | Put option |
| WINTON GROUP Ltd | $5,806,039 | 46,197 | 0.15% | Shares |
| Sendero Wealth Management, LLC | $5,796,236 | 46,119 | 0.15% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $5,630,087 | 44,797 | 0.15% | Shares |
| BARCLAYS PLC | $5,616,640 | 44,690 | 0.15% | Shares |
| HUB Investment Partners, LLC | $5,584,613 | 44,435 | 0.15% | Shares |
| Sovereign's Capital Management, LLC | $5,401,754 | 42,938 | 0.14% | Shares |
| Baird Financial Group, Inc. | $5,104,616 | 40,615 | 0.13% | Shares |
| Willis Investment Counsel | $4,979,442 | 39,620 | 0.13% | Shares |
| VAN ECK ASSOCIATES CORP | $4,887,695 | 38,890 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $4,871,860 | 38,764 | 0.13% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $4,868,718 | 38,739 | 0.13% | Shares |
| UBS Group AG | $4,800,976 | 38,200 | 0.12% | Put option |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,776,845 | 38,008 | 0.12% | Shares |
| PRUDENTIAL FINANCIAL INC | $4,754,474 | 37,830 | 0.12% | Shares |
Company insiders 47 insiders · 15 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Chad Richison | CEO and Chairman | June 15, 2026 G | 2,774,921 | 0 | 0 | $0 |
| Christopher Gene Thomas | Co-Chief Executive Officer | May 10, 2024 F | 51,377 | 0 | 0 | $0 |
| Robert D. Foster | Chief Financial Officer | Feb. 18, 2026 A | 37,809 | 0 | 1 | $-211,458 |
| Terrell Shane Hadlock | President/Chief Client Officer | Feb. 18, 2026 A | 75,457 | 0 | 0 | $0 |
| Randall Peck | Chief Operating Officer | Feb. 18, 2026 A | 58,191 | 0 | 3 | $-363,541 |
| Jon Evans | Chief Operating Officer | April 14, 2022 F | 8,574 | 0 | 0 | $0 |
| Jeffrey D. York | Chief Sales Officer | Feb. 18, 2026 A | 13,967 | 0 | 0 | $0 |
| Rachael Gannon | Chief Automation Officer | Nov. 1, 2025 F | 11,638 | 0 | 0 | $0 |
| Bradley Scott Smith | Chief Information Officer | Sept. 12, 2025 S | 24,533 | 0 | 4 | $-334,899 |
| Amy Vickroy | Chief Sales Officer | May 10, 2025 F | 31,913 | 0 | 0 | $0 |
| Jason D. Clark | Chief Administrative Officer | Feb. 21, 2025 A | 43,060 | 0 | 0 | $0 |
| Holly Faurot | Chief Sales Officer | March 1, 2024 A | 81,799 | 0 | 0 | $0 |
| Justin Devon Long | EVP of Operations | May 11, 2022 S | 2,956 | 0 | 0 | $0 |
| Kathy Oden-Hall | EVP and Chief Marketing Officer | Oct. 5, 2018 S | 33,334 | 0 | 0 | $0 |
| Stacey M Pezold | Chief Learning Officer | April 27, 2018 D | 43,743 | 0 | 0 | $0 |
| J C Watts JR | Director | May 4, 2026 A | 10,719 | 0 | 0 | $0 |
| Henry C Duques | Director | May 4, 2026 A | 5,974 | 0 | 0 | $0 |
| Archana Vemulapalli | Director | May 5, 2025 A | 1,809 | 0 | 0 | $0 |
| Joseph Leo Binz | Director | May 5, 2025 A | 5,946 | 0 | 0 | $0 |
| Felicia Williams | Director | May 5, 2025 A | 3,706 | 0 | 0 | $0 |
| Robert J Levenson | Director | April 29, 2024 A | 11,061 | 0 | 0 | $0 |
| Janet Brutschea Haugen | Director | May 3, 2021 A | 4,365 | 0 | 0 | $0 |
| Larry V Parman | Director | Oct. 12, 2017 D | 212 | 0 | 0 | $0 |
| Sanjay Swani | Director | Aug. 1, 2016 D | 178,976 | 0 | 0 | $0 |
| Robert A Minicucci | Director | Aug. 1, 2016 D | 397,805 | 0 | 0 | $0 |
| Conner Mulvee | Director | June 30, 2016 D | 0 | 0 | 0 | $0 |
| Thomas Scully | 10% owner | Nov. 18, 2015 S | 66,649 | 0 | 0 | $0 |
| Eric J. Lee | 10% owner | Nov. 18, 2015 S | 43,855 | 0 | 0 | $0 |
| Sean Traynor | 10% owner | Nov. 18, 2015 S | 75,191 | 0 | 0 | $0 |
| Scott D Mackesy | 10% owner | Nov. 18, 2015 S | 221,350 | 0 | 0 | $0 |
| Jonathan M Rather | 10% owner | Nov. 18, 2015 S | 56,055 | 0 | 0 | $0 |
| WCAS MANAGEMENT CORP | 10% owner | Nov. 18, 2015 S | 56,055 | 0 | 0 | $0 |
| Christopher Solomon | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Brian Thomas Regan | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Anthony F Ecock | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Welsh, Carson, Anderson & Stowe X, L.P. | 10% owner | Sept. 28, 2015 S | 8,376,613 | 0 | 0 | $0 |
| Michael Donovan | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| WCAS Capital Partners IV, L.P. | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Paul B. Queally | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Anthony J Denicola | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Bruce K Anderson | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Russell L Carson | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Patrick J Welsh | 10% owner | Sept. 28, 2015 S | 89,014 | 0 | 0 | $0 |
| Craig E. Boelte | — | Aug. 10, 2026 G | 175,353 | 0 | 0 | $0 |
| KERBER WILLIAM XAVIER III | — | July 8, 2026 A | 6,341 | 0 | 0 | $0 |
| Sharen J Turney | — | May 4, 2026 A | 5,992 | 0 | 0 | $0 |
| Frederick C Peters II | — | May 4, 2026 A | 17,772 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Ernest Group, Inc., Chad Richison ×21 filings | Dec. 17, 2025 | 10.50% | Amendment | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 106 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CLOU · Global X Funds | 3.73% | 71,832 NS | May 31, 2026 | N-PORT |
| SOVF · Elevation Series Trust | 3.44% | 25,534 NS | April 30, 2026 | N-PORT |
| SCOW · Pacer Funds Trust | 2.65% | 323 NS | April 30, 2026 | N-PORT |
| CVAR · ETF Opportunities Trust | 1.29% | 3,929 NS | April 30, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 1.14% | 133,488 NS | April 30, 2026 | N-PORT |
| LGRO · ALPS ETF Trust | 0.68% | 6,569 NS | May 31, 2026 | N-PORT |
| SDVD · First Trust Exchange-Traded Fund IV | 0.58% | 37,941 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.44% | 7,491 NS | April 30, 2026 | N-PORT |
| LCLG · Advisors Series Trust | 0.37% | 2,943 NS | April 30, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.36% | 826 NS | May 31, 2026 | N-PORT |
| CAFG · Pacer Funds Trust | 0.33% | 593 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.30% | 584 NS | May 31, 2026 | N-PORT |
| SKYU · ProShares Trust | 0.30% | 77 NS | May 31, 2026 | N-PORT |
| FDND · First Trust Exchange-Traded Fund IV | 0.29% | 220 NS | April 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.28% | 29,874 NS | April 30, 2026 | N-PORT |
| FLCC · Federated Hermes ETF Trust | 0.28% | 2,421 NS | May 31, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.26% | 3,061 NS | May 31, 2026 | N-PORT |
| BFOR · ALPS ETF Trust | 0.26% | 3,946 NS | May 31, 2026 | N-PORT |
| FLCG · Federated Hermes ETF Trust | 0.25% | 10,371 NS | May 31, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.25% | 6,270 NS | April 30, 2026 | N-PORT |
| GMOV · GMO ETF Trust | 0.24% | 1,588 NS | May 31, 2026 | N-PORT |
| WEBL · Direxion Shares ETF Trust | 0.19% | 1,680 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.19% | 10,785 NS | April 30, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.18% | 8,038 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.15% | 7,584 NS | April 30, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.13% | 24,801 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.13% | 1,445 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 20,424 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.13% | 132,165 NS | May 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 61,047 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.10% | 192,121 NS | May 31, 2026 | N-PORT |
| TDVI · First Trust Exchange-Traded Fund IV | 0.09% | 2,995 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.09% | 57,847 NS | May 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.09% | 9,153 NS | April 30, 2026 | N-PORT |
| FIDU · FIDELITY COVINGTON TRUST | 0.09% | 14,652 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.08% | 2,218 NS | May 31, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.04% | 1,467 NS | May 31, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.04% | 747 NS | May 31, 2026 | N-PORT |
| RECS · Columbia ETF Trust I | 0.04% | 16,348 NS | April 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.03% | 750 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.03% | 5,227 NS | April 30, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.03% | 618 NS | May 29, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.03% | 34,793 NS | April 30, 2026 | N-PORT |
| RILA · Spinnaker ETF Series | 0.03% | 104 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.03% | 28,039 NS | May 31, 2026 | N-PORT |
| FEUS · FlexShares Trust | 0.03% | 228 NS | April 30, 2026 | N-PORT |
| SCHG · SCHWAB STRATEGIC TRUST | 0.02% | 102,197 NS | May 31, 2026 | N-PORT |
| QARP · DBX ETF Trust | 0.02% | 120 NS | May 29, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.02% | 569 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.02% | 512 NS | April 30, 2026 | N-PORT |