Is the business good?
How good a business is PAY?
Paymentus Holdings, Inc. earns 28% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
28%
Return on invested capital · cost of capital 9.0% · 19 points above what the capital costs: growth creates value
- Operating margin
- 6.8%
Operating margin · Software - Infrastructure median 6.1% · 12 months to Q1 2026
- Cash conversion
- 1.92×
Cash conversion · 2.02× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +0.40%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 6.1% |
| FY2021 | 2.6% |
| FY2022 | −0.60% |
| FY2023 | 2.9% |
| FY2024 | 5.1% |
| FY2025 | 6.3% |
Details›
- Gross margin12 months to Q1 2026
- 25%
- Operating margin12 months to Q1 2026
- 6.8%
- Net margin12 months to Q1 2026
- 5.8%
- Free cash flow margin
- 11%
- R&D as % of revenue
- 4.9%
- Revenue, trailing twelve months
- $1.28B
- Free cash flow, trailing twelve months
- $142M
- Net income, trailing twelve months
- $74M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 28%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Infrastructure
Ranks #37 of 78 by Smart Score