Paylocity HoldingPCTY +3.39%75 Net Current Asset Value is $1.77 as of Mar. 2026, which is 97% below its 10-year median of 61.84. GuruFocus rates PCTY with a GF Score™ of 75/100 and a GF Value™ of $226.03 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,755 Software companies, Paylocity Holding ranks worse than 95.84% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Paylocity Holding's net current asset value per share for the quarter that ended in Mar. 2026 was $1.77.
The historical rank and industry rank for Paylocity Holding's Net Current Asset Value or its related term are showing as below:
PCTY'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 23.46 Med: 61.84 Max: 3429.5
Current: 65.03
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Paylocity Holding was 3429.50. The lowest was 23.46. And the median was 61.84.
PCTY's Price-to-Net-Current-Asset-Value is ranked worse than 95.84% of 1755
companies
in the Software industry
Industry Median: 4.83
vs PCTY: 65.03
Paylocity Holding (NAS:PCTY) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Paylocity Holding Net Current Asset Value Related Terms
Paylocity Holding Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Paylocity Holding's Net Current Asset Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PCTY vs DUOL, NAVN, CVLT: Net Current Asset Value Comparison
For the Software - Application subindustry, Paylocity Holding's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Paylocity Holding Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, Paylocity Holding's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Paylocity Holding's Price-to-Net-Current-Asset-Value falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Net Current Asset Value of $1.77 mean?
Paylocity Holding (PCTY) has a Net Current Asset Value of $1.77 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Paylocity Holding and its competitors. This is 97% below median its historical median of 61.84. Over the past decade, Paylocity Holding's Net Current Asset Value has ranged from 23.46 to 3,429.50. According to the industry distribution chart, Paylocity Holding ranks #1682 out of 1755 companies in the Software industry, placing it in the top 95.8%.
Is Paylocity Holding's Net Current Asset Value too high?
Paylocity Holding's current Net Current Asset Value of $1.77 is 97% below median its 10-year median of 61.84. Over the past 10 years, this metric has ranged from a low of 23.46 to a high of 3,429.50. The Software industry median Net Current Asset Value is 4.83. Paylocity Holding's value of $1.77 is 63.4% below this industry median. Based on the distribution chart, Paylocity Holding ranks #1682 out of 1755 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Paylocity Holding has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Paylocity Holding's Net Current Asset Value compare to DUOL and NAVN?
According to the Software industry distribution chart, Paylocity Holding ranks #1682 out of 1755 companies for Net Current Asset Value. This places Paylocity Holding in the lower half of its industry. The industry median Net Current Asset Value is 4.83. Paylocity Holding's value of $1.77 is 63.4% below this benchmark. Historically, Paylocity Holding's own Net Current Asset Value has ranged from 23.46 to 3,429.50 over the past decade. While the company's 10-year median is 61.84 vs. the industry median of 4.83, Paylocity Holding has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Software company?
The median Net Current Asset Value among Software companies is 4.83, based on 1,755 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Paylocity Holding's current Net Current Asset Value of $1.77 is 63.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Paylocity Holding and its competitors. For the Software industry, the median Net Current Asset Value is 4.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Paylocity Holding's current Net Current Asset Value is $1.77, which is 97% below median its own 10-year median of 61.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Paylocity Holding stock overvalued right now?
Based on GuruFocus' analysis, Paylocity Holding (PCTY) is currently considered Possible Value Trap. The stock's GF Value™ is $226.03, compared to a current price of $115.10 — trading 49.1% below its estimated fair value. The current Net Current Asset Value is $1.77, which is 97% below median its 10-year median of 61.84 and 63.4% below the Software industry median of 4.83. Paylocity Holding's overall GF Score™ is 75/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Paylocity Holding (PCTY), the current Net Current Asset Value is $1.77 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Paylocity Holding (PCTY) Overvalued in 2026?
Based on GuruFocus' analysis, Paylocity Holding stock appears to be undervalued.
The current stock price of $115.10 is trading 49.1% below its estimated GF Value™ of $226.03.
GuruFocus considers Paylocity Holding to be Possible Value Trap.
Key valuation signals for PCTY:
Net Current Asset Value: $1.77 (97% below median its 10-year median of 61.84)
GF Value™: $226.03 vs. price of $115.10 (49.1% below fair value)
Industry Position: 63.4% below the Software median (#1682 of 1755)
No single metric tells the full story. See the PCTY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Paylocity is a cloud-based human capital management provider offering payroll, compliance, and human resources management solutions. With the addition of expense and IT management modules, Paylocity unifies back-office operations spanning HR, finance, and IT on a single platform and bills customers on a subscription basis. The firm's customer base skews toward the midmarket and is primarily based in the US. As of fiscal 2025, Paylocity has nearly 42,000 customers.
75GF Score
Get the complete analysis for PCTY
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PCTY has been successfully added to your 
