• Paylocity Holding average return on tangible equity for 2023 was 22.97, a 8.5% increase from 2022.
• Paylocity Holding average return on tangible equity for 2022 was 21.17, a 4.91% increase from 2021.
• Paylocity Holding average return on tangible equity for 2021 was 20.18, a 1.87% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.