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Paymentus Holdings, Inc. (PAY) stock analysis

PAYNYSEServices-Business Services, NECFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 3, 2026Score 18/305% above fair value
$34.01−0.11 (-0.32%)

Close on Nov 11, 2026Market cap $4.28BP/E 46.6Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value2Growth5Performance5Health6Dividend0

Solid18 of 30 checks passed

Paymentus passes 18 of the 30 checks behind our score; 6 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
2/6
Growth
5/6
Past performance
5/6
Financial health
6/6
Dividend
0/6

What stands out

  • Return on capital over 10%

    Return on invested capital was 35.8%, above the 10% that usually covers the cost of capital.

  • No debt

    Paymentus has no borrowings on its latest balance sheet.

  • Earnings grew over 5 years

    Net income grew 37.3% a year on average over the last five fiscal years.

  • Revenue growing 10%+ a year

    Revenue grew 34.0% a year over the last three fiscal years.

What to watch

  • Margin of safety under 20%

    The price is 4.5% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $34.01 is above our fair value estimate of $32.55.

  • Return on equity under 15%

    Return on equity was 16.0% over the last twelve months and averaged 6.3% over five years; we look for 15% on both.

  • P/E above the industry

    Paymentus's P/E of 46.6 is above the Miscellaneous Business Services median of 25.8.

Valuation2/6

  • P/E below its 5-year median

    Paymentus's P/E of 46.6 is below its own 5-year median of 94.9.

  • P/E above the industry

    Paymentus's P/E of 46.6 is above the Miscellaneous Business Services median of 25.8.

  • EV/EBITDA below its 5-year median

    Paymentus's EV/EBITDA of 28.3 is below its 5-year median of 53.1.

  • P/B above the industry

    Paymentus's price-to-book of 6.66 is above the Miscellaneous Business Services median of 2.48.

  • Trading above fair value

    The share price of $34.01 is above our fair value estimate of $32.55.

  • Margin of safety under 20%

    The price is 4.5% above fair value, so there is no margin of safety.

Growth5/6

  • Revenue growing 10%+ a year

    Revenue grew 34.0% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings growth accelerating

    Net income grew 59.2% over the last twelve months, against a 5-year average of 37.3% a year.

  • Growing faster than the industry

    Revenue grew 26.5% over the last twelve months; the Miscellaneous Business Services median is 9.9%.

  • Guidance raised

    Paymentus raised its Fiscal Year 2026 Revenue outlook on Aug 3, 2026.

  • Gross margin improving

    Gross margin was 25.2% over the last twelve months, against 24.8% a year earlier.

Past performance5/6

  • Return on equity under 15%

    Return on equity was 16.0% over the last twelve months and averaged 6.3% over five years; we look for 15% on both.

  • Return on capital over 10%

    Return on invested capital was 35.8%, above the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    Paymentus's return on equity of 16.0% is above the Miscellaneous Business Services median of 6.8%.

  • Earnings grew over 5 years

    Net income grew 37.3% a year on average over the last five fiscal years.

  • Net margin above its 5-year average

    Net margin was 6.7% over the last twelve months, against a 5-year average of 3.3%.

  • Net margin above the industry

    Paymentus's net margin of 6.7% is above the Miscellaneous Business Services median of 3.8%.

Financial health6/6

  • No debt

    Paymentus has no borrowings on its latest balance sheet.

  • Debt not rising

    With no debt today, leverage cannot have risen.

  • Debt covered by cash flow

    There is no debt to cover.

  • Interest well covered

    No meaningful interest expense to cover.

  • Short-term assets cover short-term debts

    Current assets are 4.82 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 24.77; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Paymentus has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$32.55

The share price is 5% above this estimate.

20%+ below
Near fair value
20%+ above
$34.01Price
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E45.0×94.9×25.8×$32.8547%
EV/EBITDA30.0×53.1×15.7×$35.8141%
P/B3.9×5.6×2.5×$19.9112%
Earnings powerleft out, too far from the others12.0% cost of equity––$6.45–
Fair value$32.55100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 94.9
  • Miscellaneous Business Services median 25.8

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$26.29M
Value traded per 1% price move
$15.16M

Downside

Medium risk

Typical loss in a bad month
22.1%
Volatility (annualized)
59%
Sharpe ratio, 1 year
-0.24
Beta to the S&P 500 (5Y)
1.43

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2018 to 2025

Gross margin

24.8%−5.9 pts over 5 years

Operating margin

6.3%+0.2 pts over 5 years

Net margin

5.6%+1.1 pts over 5 years

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