PAYC · 10-Q · 2026Q3 · Full report
Liquidity and Debt Position
Paycom Software, Inc. · 2026-11-05 · Importance 64 · Surprise 42
Paycom maintained a $2.125 billion revolving credit facility, with $750.0 million outstanding at September 30, 2026 after $900.0 million of borrowings and $150.0 million of repayments during the first nine months. The facility was amended and restated on April 23, 2026, and all borrowings mature on April 23, 2031; it has no scheduled principal amortization. The agreement permits an incremental facility of up to $750.0 million, subject to lender commitments and conditions, and requires minimum interest coverage of 3.0-to-1.0 and maximum leverage of 3.5-to-1.0. Paycom reported compliance with those covenants at September 30, 2026 and said existing cash, operating cash flow and available liquidity were expected to cover operations, capital expenditures, debt service, dividends and opportunistic repurchases for at least 12 months.
Key facts
- Paycom’s Revolving Credit Facility commitments were increased to $2.125 billion on April 23, 2026; the facility includes a $25.0 million swingline sublimit and a $6.5 million letter-of-credit sublimit, and loans mature April 23, 2031. source
- Paycom’s Credit Agreement permits the Borrower to request an incremental facility of up to an additional $750.0 million, subject to additional lender commitments and certain conditions. source
- Paycom was required to maintain a quarterly consolidated interest coverage ratio of at least 3.0 to 1.0 and a consolidated leverage ratio no greater than 3.5 to 1.0; it was in compliance as of September 30, 2026. source
- Paycom stated that cash, operating cash flows and available liquidity would be sufficient for at least the next 12 months to maintain operations, make capital expenditures, service debt, pay dividends and opportunistically repurchase shares. source
- Paycom borrowed $900.0 million under its Revolving Credit Facility during the nine months ended September 30, 2026, repaid $150.0 million, and had $750.0 million outstanding at September 30, 2026. source