Investment Thesis: Competitive Landscape Paycom has some solid fundamentals when it comes to revenue, earnings, free eash flow, ROVC, balance sheet, etc. Starting off with revenue, the company has been able to grow revenue at a fast rate shown by the graph below. This represents a revenue growth CAGR of 31% over the past devade. This growth has decelerated slightly but still remains fast as of late above 17%. The large majority of this revenue is also reocurring. In my opinion, this indicates that enterpris ...