Free Trial
→ Gold Hits New Highs as Global Markets Spiral (From Premier Gold Co) (Ad) Buy PAYX Stock  Free PAYX Stock Alerts

Paychex (PAYX) Financials

Paychex logo
$156.99 -1.98 (-1.25%)
Closing price 05/28/2025 04:00 PM Eastern
Extended Trading
$156.28 -0.71 (-0.45%)
As of 08:54 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Compare
Annual Income Statements for Paychex

Annual Income Statements for Paychex

This table shows Paychex's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 5/31/2024 5/31/2023 5/31/2022 5/31/2021 5/31/2020 5/31/2019 5/31/2018 5/31/2017 5/31/2016 5/31/2015
Net Income / (Loss) Attributable to Common Shareholders		 1,705 1,531 1,207 1,093 1,155 1,071 994 826 779 661
Consolidated Net Income / (Loss)		 1,690 1,557 1,393 1,098 1,098 1,034 994 826 757 675
Net Income / (Loss) Continuing Operations		 1,690 1,557 1,393 1,098 1,098 1,034 994 826 757 675
Total Pre-Tax Income 		2,218 2,048 1,825 1,434 1,437 1,368 1,300 1,259 1,151 1,060
Total Operating Income		 2,174 2,033 1,840 1,461 1,461 1,371 1,292 1,254 1,147 1,054
Total Gross Profit		 3,799 3,554 3,255 2,786 2,760 2,595 2,360 3,153 2,952 2,740
Total Revenue		 5,278 5,007 4,612 4,057 4,041 3,773 3,378 3,153 2,952 2,740
Operating Revenue		 5,278 5,007 4,612 4,057 4,041 3,773 3,378 3,153 2,952 2,740
Total Cost of Revenue		 1,479 1,453 1,356 1,271 1,281 1,178 1,018 0.00 0.00 0.00
Operating Cost of Revenue		 1,479 1,453 1,356 1,271 1,281 1,178 1,018 - - -
Total Operating Expenses		 1,625 1,521 1,415 1,325 1,299 1,223 1,068 1,899 1,805 1,686
Selling, General & Admin Expense		 1,625 1,521 1,415 1,325 1,299 1,223 1,068 1,899 1,805 1,686
Total Other Income / (Expense), net		 44 15 -15 -27 -23 -3.30 8.60 5.20 4.50 6.40
Interest & Investment Income		 44 15 -15 -27 -23 -3.30 8.60 5.20 4.50 6.40
Income Tax Expense		 528 491 432 337 339 334 306 433 394 385
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 -15 26 186 4.70 -56 -36 - - -22 14
Basic Earnings per Share		 $4.69 $4.32 $3.86 $3.05 $3.06 $2.88 $2.77 $2.30 $2.10 $1.86
Weighted Average Basic Shares Outstanding		 360.30M 360.40M 360.60M 359.90M 358.50M 359.20M 359M 359.80M 360.70M 362.90M
Diluted Earnings per Share		 $4.67 $4.30 $3.84 $3.03 $3.04 $2.86 $2.75 $2.28 $2.09 $1.85
Weighted Average Diluted Shares Outstanding		 362.10M 362.30M 363.10M 362.10M 361M 361.80M 361.50M 362.60M 362.50M 364.60M
Weighted Average Basic & Diluted Shares Outstanding		 360.13M 360.55M 359.91M 359.83M 358.77M 359.20M 358.90M 360M 370.70M 355.30M
Cash Dividends to Common per Share		 $3.65 $3.26 $2.77 $2.52 $2.48 $2.30 $2.06 $1.84 $1.68 $1.52

Quarterly Income Statements for Paychex

This table shows Paychex's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 2/28/2025 11/30/2024 8/31/2024 5/31/2024 2/29/2024 11/30/2023 8/31/2023 5/31/2023 2/28/2023 11/30/2022 8/31/2022
Net Income / (Loss) Attributable to Common Shareholders		 522 402 492 380 521 409 396 395 462 333 342
Consolidated Net Income / (Loss)		 519 413 427 380 499 393 419 350 467 360 379
Net Income / (Loss) Continuing Operations		 519 413 427 380 499 393 419 350 467 360 379
Total Pre-Tax Income 		686 544 557 492 659 518 549 464 617 475 492
Total Operating Income		 692 538 547 482 650 506 536 453 612 472 496
Total Gross Profit		 1,122 938 939 920 1,060 894 926 860 1,008 831 855
Total Revenue		 1,509 1,317 1,319 1,295 1,439 1,258 1,286 1,230 1,381 1,190 1,206
Operating Revenue		 1,509 1,317 1,319 1,295 1,439 1,258 1,286 1,230 1,381 1,190 1,206
Total Cost of Revenue		 387 379 380 375 380 364 360 370 373 359 351
Operating Cost of Revenue		 387 379 380 375 380 364 360 370 373 359 351
Total Operating Expenses		 430 400 392 438 410 388 390 407 396 359 360
Selling, General & Admin Expense		 430 400 392 438 410 388 390 407 396 359 360
Total Other Income / (Expense), net		 -6.00 5.60 10 10 9.40 12 13 10 5.50 2.90 -3.60
Interest & Investment Income		 -6.00 5.60 10 10 9.40 12 13 10 5.50 2.90 -3.60
Income Tax Expense		 167 130 130 112 161 125 130 113 150 115 113
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 -2.30 12 -65 -0.10 -22 -16 23 -44 5.90 27 38
Basic Earnings per Share		 $1.44 $1.15 $1.19 $1.05 $1.39 $1.09 $1.16 $0.97 $1.30 $1.00 $1.05
Weighted Average Basic Shares Outstanding		 360.10M 360M 360.10M 360.30M 359.90M 360.50M 360.80M 360.40M 360.50M 360.50M 360.10M
Diluted Earnings per Share		 $1.43 $1.14 $1.18 $1.05 $1.38 $1.08 $1.16 $0.97 $1.29 $0.99 $1.05
Weighted Average Diluted Shares Outstanding		 362M 361.70M 361.90M 362.10M 361.70M 362.10M 362.80M 362.30M 362.30M 362.30M 362.40M
Weighted Average Basic & Diluted Shares Outstanding		 360.19M 360.06M 359.90M 360.13M 359.96M 359.82M 361.23M 360.55M 360.51M 360.47M 360.40M
Cash Dividends to Common per Share		 $0.98 $0.98 $0.98 $0.98 $0.89 $0.89 $0.89 $0.89 $0.79 $0.79 $0.79

Annual Cash Flow Statements for Paychex

This table details how cash moves in and out of Paychex's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 5/31/2024 5/31/2023 5/31/2022 5/31/2021 5/31/2020 5/31/2019 5/31/2018 5/31/2017 5/31/2016 5/31/2015
Net Change in Cash & Equivalents		 -238 1,207 -895 163 725 -1,365 1,851 -185 -39 18
Net Cash From Operating Activities		 1,898 1,706 1,590 1,260 1,441 1,272 1,276 960 1,018 895
Net Cash From Continuing Operating Activities		 1,898 1,706 1,590 1,260 1,441 1,272 1,276 960 1,018 895
Net Income / (Loss) Continuing Operations		 1,690 1,557 1,393 1,098 1,098 1,034 994 826 757 675
Consolidated Net Income / (Loss)		 1,690 1,557 1,393 1,098 1,098 1,034 994 826 757 675
Depreciation Expense		 177 177 192 192 210 182 138 127 115 107
Amortization Expense		 225 237 231 227 227 229 240 242 76 76
Non-Cash Adjustments To Reconcile Net Income		 116 91 64 59 44 50 48 40 37 33
Changes in Operating Assets and Liabilities, net		 -310 -356 -289 -316 -138 -223 -144 -275 34 4.80
Net Cash From Investing Activities		 -261 212 -1,505 -461 772 -1,628 999 -662 -63 -285
Net Cash From Continuing Investing Activities		 -261 212 -1,505 -461 772 -1,628 999 -662 -63 -285
Purchase of Property, Plant & Equipment		 -192 -153 -144 -127 -137 -129 -194 -103 -107 -106
Acquisitions		 -208 -2.70 -25 -20 -6.10 -992 -180 0.00 -296 -27
Purchase of Investments		 -6,869 -14,585 -17,808 -6,090 -25,218 -35,146 -50,220 -50,462 -12,572 -34,020
Sale of Property, Plant & Equipment		 0.00 17 1.20 3.80 - - - - - -
Sale and/or Maturity of Investments		 7,161 14,943 16,555 5,772 26,133 34,639 51,593 49,903 12,912 33,869
Other Investing Activities, net		 -154 -6.80 -84 - - - - - - -
Net Cash From Financing Activities		 -1,875 -711 -979 -636 -1,488 -1,009 -424 -483 -994 -593
Net Cash From Continuing Financing Activities		 -1,875 -711 -979 -636 -1,488 -1,009 -424 -483 -994 -593
Repurchase of Common Equity		 -169 0.00 -145 -156 -172 -57 -143 -166 -108 -182
Payment of Dividends		 -1,315 -1,175 -1,000 -909 -889 -827 -740 -662 -607 -552
Issuance of Debt		 9.00 2.00 1.30 2.30 5.10 0.00 0.00 0.00 - -
Other Financing Activities, net		 -399 462 164 426 -432 -125 459 346 -279 142

Quarterly Cash Flow Statements for Paychex

This table details how cash moves in and out of Paychex's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 2/28/2025 11/30/2024 8/31/2024 5/31/2024 2/29/2024 11/30/2023 8/31/2023 5/31/2023 2/28/2023 11/30/2022 8/31/2022
Net Change in Cash & Equivalents		 734 -189 -49 -2,636 971 -322 1,749 -228 738 -81 778
Net Cash From Operating Activities		 716 295 546 222 672 311 693 417 569 355 364
Net Cash From Continuing Operating Activities		 716 295 546 222 672 311 693 417 569 355 364
Net Income / (Loss) Continuing Operations		 519 413 427 380 499 393 419 350 467 360 379
Consolidated Net Income / (Loss)		 519 413 427 380 499 393 419 350 467 360 379
Depreciation Expense		 43 42 39 46 45 45 41 44 44 44 44
Amortization Expense		 70 56 56 56 57 56 56 58 60 60 59
Non-Cash Adjustments To Reconcile Net Income		 4.00 21 24 56 19 20 20 32 21 19 19
Changes in Operating Assets and Liabilities, net		 80 -237 0.00 -316 53 -203 157 -68 -24 -128 -137
Net Cash From Investing Activities		 21 -193 -110 -143 -8.10 -97 -13 -152 -664 -195 1,223
Net Cash From Continuing Investing Activities		 21 -193 -110 -143 -8.10 -97 -13 -152 -664 -195 1,223
Purchase of Property, Plant & Equipment		 -58 -50 -48 -46 -46 -55 -45 -45 -34 -38 -36
Purchase of Investments		 -3,305 -4,139 -1,030 -861 -2,704 -1,380 -1,924 -1,993 -6,088 -2,697 -3,808
Sale and/or Maturity of Investments		 3,337 4,151 1,013 816 2,739 1,406 2,201 1,892 5,420 2,564 5,067
Other Investing Activities, net		 47 -155 -45 -52 3.00 -68 -37 -8.10 35 - -
Net Cash From Financing Activities		 -2.70 -291 -485 -2,715 308 -537 1,069 -493 833 -241 -810
Net Cash From Continuing Financing Activities		 -2.70 -291 -485 -2,715 308 -537 1,069 -493 833 -241 -810
Payment of Dividends		 -353 -353 -353 -353 -320 -320 -322 -321 -285 -285 -285
Other Financing Activities, net		 362 62 -28 -2,362 623 -48 1,388 -172 1,117 43 -527

Annual Balance Sheets for Paychex

This table presents Paychex's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 5/31/2024 5/31/2023 5/31/2022 5/31/2021 5/31/2020 5/31/2019 5/31/2018 5/31/2017 5/31/2016 5/31/2015
Total Assets		 10,383 10,546 9,635 9,227 8,551 8,676 7,915 6,834 6,441 6,468
Total Current Assets		 7,252 7,528 6,582 6,170 5,465 5,678 5,894 5,272 4,864 5,088
Cash & Equivalents		 1,469 1,222 370 995 905 674 358 185 132 170
Restricted Cash		 3,754 4,169 3,733 3,801 3,480 3,804 4,704 4,302 3,998 4,273
Short-Term Investments		 34 373 854 37 27 39 66 139 221 367
Note & Lease Receivable		 1,083 898 746 603 410 448 407 543 445 215
Accounts Receivable		 542 529 572 451 380 406 118 - - -
Prepaid Expenses		 322 290 272 249 245 234 224 58 59 51
Current Deferred & Refundable Income Taxes		 48 48 34 34 17 23 17 45 11 13
Plant, Property, & Equipment, net		 412 396 401 396 407 409 394 337 353 354
Total Noncurrent Assets		 2,720 2,622 2,652 2,662 2,679 2,590 1,628 1,225 1,224 1,025
Long-Term Investments		 3.70 3.80 5.00 7.10 10 10 296 454 441 400
Goodwill		 1,883 1,834 1,832 1,821 1,791 1,783 814 657 657 562
Intangible Assets		 241 249 225 276 445 399 141 58 70 32
Other Noncurrent Operating Assets		 592 535 591 558 432 398 377 31 32 32
Total Liabilities & Shareholders' Equity		 10,383 10,546 9,635 9,227 8,551 8,676 7,915 6,834 6,441 6,468
Total Liabilities		 6,582 7,053 6,550 6,279 5,769 6,057 5,559 4,878 4,529 4,682
Total Current Liabilities		 5,309 5,805 5,269 4,938 4,427 4,845 5,297 4,725 4,366 4,573
Short-Term Debt		 19 10 8.70 7.40 5.10 0.00 - - - -
Accounts Payable		 104 85 106 89 79 76 74 57 57 52
Current Deferred Revenue		 50 47 38 38 39 - - 23 26 11
Current Deferred & Payable Income Tax Liabilities		 0.00 - - - 51 0.00 - - - -
Current Employee Benefit Liabilities		 797 974 909 796 644 725 298 281 248 210
Other Current Liabilities		 4,339 4,689 4,208 4,008 3,609 4,044 4,925 4,365 4,035 4,300
Total Noncurrent Liabilities		 1,273 1,248 1,281 1,341 1,342 1,212 262 153 163 109
Long-Term Debt		 799 798 798 797 797 796 0.00 - - -
Noncurrent Deferred Revenue		 103 83 58 26 34 27 18 46 73 45
Noncurrent Deferred & Payable Income Tax Liabilities		 86 112 166 218 241 223 154 34 22 1.80
Other Noncurrent Operating Liabilities		 286 255 260 300 271 165 89 74 68 62
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,801 3,493 3,085 2,948 2,781 2,620 2,357 1,955 1,912 1,786
Total Preferred & Common Equity		 3,801 3,493 3,085 2,948 2,781 2,620 2,357 1,955 1,912 1,786
Total Common Equity		 3,801 3,493 3,085 2,948 2,781 2,620 2,357 1,955 1,912 1,786
Common Stock		 1,733 1,630 1,550 1,450 1,294 1,210 1,130 1,034 956 884
Retained Earnings		 2,213 2,023 1,670 1,446 1,431 1,410 1,263 902 926 894
Accumulated Other Comprehensive Income / (Loss)		 -145 -160 -134 52 57 0.10 -36 20 29 7.50

Quarterly Balance Sheets for Paychex

This table presents Paychex's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 2/28/2025 11/30/2024 8/31/2024 5/31/2024 2/29/2024 11/30/2023 8/31/2023 5/31/2023 2/28/2023 11/30/2022 8/31/2022
Total Assets		 11,222 10,555 10,489 10,383 13,024 12,052 12,200 10,546 10,604 9,214 9,126
Total Current Assets		 8,077 7,430 7,361 7,252 9,886 8,924 9,089 7,528 7,595 6,198 6,085
Cash & Equivalents		 1,564 1,202 1,460 1,469 1,694 1,363 1,646 1,222 1,317 1,097 1,184
Restricted Cash		 4,233 3,872 3,818 3,754 6,121 5,488 5,521 4,169 4,294 3,191 3,196
Short-Term Investments		 37 38 38 34 37 34 46 373 240 166 46
Note & Lease Receivable		 1,267 1,281 1,149 1,083 1,111 1,106 1,039 898 827 897 897
Accounts Receivable		 598 599 554 542 591 544 535 529 588 495 476
Prepaid Expenses		 359 346 342 322 313 304 302 290 292 287 286
Current Deferred & Refundable Income Taxes		 18 92 0.00 48 21 84 0.00 48 37 67 0.00
Plant, Property, & Equipment, net		 451 432 417 412 419 418 405 396 385 393 398
Total Noncurrent Assets		 2,693 2,693 2,710 2,720 2,718 2,711 2,707 2,622 2,623 2,623 2,642
Long-Term Investments		 0.00 0.00 0.00 3.70 1.60 1.60 1.60 3.80 3.80 3.90 3.90
Goodwill		 1,878 1,880 1,885 1,883 1,882 1,882 1,881 1,834 1,834 1,830 1,825
Intangible Assets		 224 226 237 241 264 260 259 249 264 275 287
Other Noncurrent Operating Assets		 592 587 588 592 571 567 565 535 522 515 526
Total Liabilities & Shareholders' Equity		 11,222 10,555 10,489 10,383 13,024 12,052 12,200 10,546 10,604 9,214 9,126
Total Liabilities		 7,105 6,629 6,639 6,582 9,277 8,528 8,612 7,053 7,203 6,009 5,989
Total Current Liabilities		 5,800 5,329 5,344 5,309 8,001 7,254 7,344 5,805 5,958 4,754 4,702
Short-Term Debt		 18 18 19 19 19 14 14 10 10 10 10
Accounts Payable		 119 89 81 104 94 92 95 85 123 87 85
Current Deferred Revenue		 52 51 50 50 52 55 51 47 44 45 41
Current Deferred & Payable Income Tax Liabilities		 0.00 0.00 74 0.00 - - 61 - 0.00 0.00 40
Current Employee Benefit Liabilities		 905 817 798 797 1,077 970 887 974 943 916 854
Other Current Liabilities		 4,707 4,354 4,322 4,339 6,759 6,123 6,236 4,689 4,839 3,697 3,673
Total Noncurrent Liabilities		 1,305 1,300 1,295 1,273 1,276 1,273 1,269 1,248 1,244 1,255 1,286
Long-Term Debt		 799 799 799 799 799 798 798 798 798 798 798
Noncurrent Deferred Revenue		 118 113 109 103 99 93 88 83 70 66 62
Noncurrent Deferred & Payable Income Tax Liabilities		 93 95 95 86 95 103 101 112 117 130 157
Other Noncurrent Operating Liabilities		 295 292 292 286 283 279 281 255 260 262 270
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 4,117 3,926 3,850 3,801 3,747 3,524 3,588 3,493 3,401 3,205 3,137
Total Preferred & Common Equity		 4,117 3,926 3,850 3,801 3,747 3,524 3,588 3,493 3,401 3,205 3,137
Total Common Equity		 4,117 3,926 3,850 3,801 3,747 3,524 3,588 3,493 3,401 3,205 3,137
Common Stock		 1,818 1,793 1,765 1,733 1,706 1,682 1,670 1,630 1,612 1,592 1,573
Retained Earnings		 2,388 2,225 2,165 2,213 2,186 2,009 2,101 2,023 1,994 1,811 1,736
Accumulated Other Comprehensive Income / (Loss)		 -90 -92 -80 -145 -145 -167 -183 -160 -204 -198 -171

Annual Metrics And Ratios for Paychex

This table displays calculated financial ratios and metrics derived from Paychex's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 5/31/2024 5/31/2023 5/31/2022 5/31/2021 5/31/2020 5/31/2019 5/31/2018 5/31/2017 5/31/2016 5/31/2015
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 5.42% 8.57% 13.68% 0.40% 7.10% 11.69% 7.13% 6.81% 7.75% 8.76%
EBITDA Growth		 5.24% 8.14% 20.37% -0.91% 6.46% 6.73% 2.89% 21.33% 8.17% 6.77%
EBIT Growth		 6.94% 10.49% 25.97% 0.01% 6.50% 6.18% 3.00% 9.36% 8.83% 7.21%
NOPAT Growth		 7.19% 10.06% 25.66% 0.16% 7.63% 5.00% 20.01% 9.16% 12.38% 7.49%
Net Income Growth		 8.55% 11.81% 26.91% -0.05% 6.16% 4.05% 20.31% 9.18% 12.14% 7.55%
EPS Growth		 8.60% 11.98% 26.73% -0.33% 6.29% 4.00% 20.61% 9.09% 12.97% 8.19%
Operating Cash Flow Growth		 11.22% 7.33% 26.14% -12.53% 13.32% -0.38% 32.90% -5.68% 13.74% 1.62%
Free Cash Flow Firm Growth		 -57.10% 39.93% 1.59% 61.65% 191.92% -198.80% -12.89% 412.07% -71.69% -8.94%
Invested Capital Growth		 56.20% -36.96% 1.57% -29.54% 24.41% 63.78% 1.83% -8.51% 15.92% -1.96%
Revenue Q/Q Growth		 1.26% 1.73% 2.56% 2.89% -1.59% 3.70% 1.36% 1.49% 2.13% 1.98%
EBITDA Q/Q Growth		 1.08% 2.27% 1.96% 2.71% -0.91% 1.63% -7.69% 14.99% 2.01% 1.96%
EBIT Q/Q Growth		 1.33% 3.00% 2.23% 3.85% -1.01% 0.91% -0.85% 3.03% 2.20% 2.26%
NOPAT Q/Q Growth		 1.82% 2.81% 2.28% 3.93% -0.59% 1.73% 1.29% 3.14% 2.49% 2.27%
Net Income Q/Q Growth		 1.78% 3.59% 2.46% 4.01% -0.88% 1.24% 1.37% 3.27% 2.28% 2.32%
EPS Q/Q Growth		 1.74% 3.61% 2.67% 3.77% -0.98% 1.06% 1.85% 3.17% 1.95% 2.78%
Operating Cash Flow Q/Q Growth		 -9.35% -0.23% 2.03% 0.12% 10.72% -2.96% 8.17% -3.60% 2.48% 3.15%
Free Cash Flow Firm Q/Q Growth		 -74.53% 27.50% -8.34% 43.88% 2,847.89% -186.95% 2,871.57% 21.96% 141.91% -9.27%
Invested Capital Q/Q Growth		 80.47% 10.89% 34.17% 26.80% 47.92% 58.95% -14.94% 15.03% 20.00% 19.39%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 71.97% 70.98% 70.59% 68.67% 68.30% 68.78% 69.86% 100.00% 100.00% 100.00%
EBITDA Margin		 48.79% 48.87% 49.07% 46.34% 46.95% 47.24% 49.43% 51.47% 45.31% 45.13%
Operating Margin		 41.19% 40.60% 39.90% 36.01% 36.15% 36.35% 38.24% 39.77% 38.84% 38.46%
EBIT Margin		 41.19% 40.60% 39.90% 36.01% 36.15% 36.35% 38.24% 39.77% 38.84% 38.46%
Profit (Net Income) Margin		 32.03% 31.10% 30.20% 27.05% 27.18% 27.42% 29.43% 26.21% 25.64% 24.64%
Tax Burden Percent		 76.21% 76.03% 76.33% 76.52% 76.41% 75.61% 76.46% 65.63% 65.75% 63.67%
Interest Burden Percent		 102.02% 100.74% 99.16% 98.19% 98.40% 99.76% 100.67% 100.41% 100.39% 100.61%
Effective Tax Rate		 23.79% 23.97% 23.67% 23.48% 23.59% 24.39% 23.54% 34.37% 34.25% 36.33%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 46.35% 47.35% 46.17% 38.31% 40.66% 41.57% 46.11% 42.74% 40.94% 37.89%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 20.78% 20.15% 19.51% 16.43% 16.96% 16.53% 17.51% 18.89% 17.77% 16.41%
Return on Assets (ROA)		 16.15% 15.43% 14.77% 12.35% 12.75% 12.47% 13.48% 12.45% 11.73% 10.51%
Return on Common Equity (ROCE)		 46.35% 47.35% 46.17% 38.31% 40.66% 41.57% 46.11% 42.74% 40.94% 37.89%
Return on Equity Simple (ROE_SIMPLE)		 44.47% 44.58% 45.14% 37.23% 39.48% 39.49% 42.18% 42.26% 39.59% 37.80%
Net Operating Profit after Tax (NOPAT)		 1,657 1,546 1,405 1,118 1,116 1,037 988 823 754 671
NOPAT Margin		 31.39% 30.87% 30.46% 27.55% 27.62% 27.49% 29.24% 26.10% 25.54% 24.49%
Net Nonoperating Expense Percent (NNEP)		 0.71% 0.25% -0.29% -0.53% -0.49% -0.05% 0.13% 0.07% 0.06% 0.08%
Cost of Revenue to Revenue		 28.03% 29.02% 29.41% 31.34% 31.70% 31.22% 30.14% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 30.78% 30.38% 30.69% 32.66% 32.15% 32.43% 31.62% 60.23% 61.16% 61.54%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 30.78% 30.38% 30.69% 32.66% 32.15% 32.43% 31.62% 60.23% 61.16% 61.54%
Earnings before Interest and Taxes (EBIT)		 2,174 2,033 1,840 1,461 1,461 1,371 1,292 1,254 1,147 1,054
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,575 2,447 2,263 1,880 1,897 1,782 1,670 1,623 1,337 1,236
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 11.29 10.42 13.56 11.30 8.27 10.12 8.32 8.77 7.97 7.58
Price to Tangible Book Value (P/TBV)		 25.59 25.81 40.65 39.12 42.21 60.53 13.99 13.82 12.86 11.36
Price to Revenue (P/Rev)		 8.13 7.27 9.07 8.21 5.69 7.02 5.81 5.44 5.16 4.94
Price to Earnings (P/E)		 25.16 23.77 34.66 30.48 19.92 24.75 19.72 20.75 19.58 20.49
Dividend Yield		 3.06% 3.23% 2.39% 2.73% 3.87% 3.12% 3.77% 3.86% 3.97% 4.08%
Earnings Yield		 3.97% 4.21% 2.89% 3.28% 5.02% 4.04% 5.07% 4.82% 5.11% 4.88%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 7.29 6.28 8.17 7.22 4.80 6.04 4.20 3.83 3.54 3.04
Enterprise Value to EBITDA (EV/EBITDA)		 14.94 12.85 16.65 15.57 10.22 12.78 8.50 7.43 7.82 6.74
Enterprise Value to EBIT (EV/EBIT)		 17.69 15.47 20.48 20.04 13.27 16.60 10.98 9.62 9.12 7.91
Enterprise Value to NOPAT (EV/NOPAT)		 23.22 20.34 26.83 26.19 17.37 21.96 14.36 14.66 13.87 12.42
Enterprise Value to Operating Cash Flow (EV/OCF)		 20.27 18.43 23.70 23.23 13.45 17.91 11.11 12.56 10.27 9.31
Enterprise Value to Free Cash Flow (EV/FCFF)		 46.18 16.20 27.16 21.43 22.94 0.00 15.25 11.30 50.13 11.31
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.22 0.23 0.26 0.27 0.29 0.30 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.21 0.23 0.26 0.27 0.29 0.30 0.00 0.00 0.00 0.00
Financial Leverage		 -1.29 -1.39 -1.36 -1.34 -1.36 -1.84 -2.44 -2.55 -2.70 -2.90
Leverage Ratio		 2.87 3.07 3.13 3.10 3.19 3.33 3.42 3.43 3.49 3.60
Compound Leverage Factor		 2.93 3.09 3.10 3.05 3.14 3.33 3.44 3.45 3.51 3.63
Debt to Total Capital		 17.70% 18.79% 20.72% 21.44% 22.38% 23.31% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.40% 0.24% 0.22% 0.20% 0.14% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 17.29% 18.56% 20.50% 21.25% 22.24% 23.31% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 82.30% 81.21% 79.28% 78.56% 77.62% 76.69% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.32 0.33 0.36 0.43 0.42 0.45 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 -1.73 -2.03 -1.84 -2.15 -1.91 -2.09 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.31 0.33 0.35 0.42 0.42 0.45 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.49 0.52 0.57 0.72 0.72 0.77 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 -2.68 -3.21 -2.96 -3.61 -3.24 -3.60 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.48 0.52 0.57 0.71 0.71 0.77 0.00 0.00 0.00 0.00
Altman Z-Score		 5.63 4.67 5.35 4.52 3.81 3.92 3.40 3.46 3.36 2.99
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.37 1.30 1.25 1.25 1.23 1.17 1.11 1.12 1.11 1.11
Quick Ratio		 0.59 0.52 0.48 0.42 0.39 0.32 0.18 0.18 0.18 0.16
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 833 1,942 1,387 1,366 845 -919 930 1,068 209 737
Operating Cash Flow to CapEx		 990.97% 1,248.13% 1,110.13% 1,022.14% 1,053.29% 984.90% 658.62% 933.33% 954.26% 843.73%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.50 0.50 0.49 0.46 0.47 0.45 0.46 0.48 0.46 0.43
Accounts Receivable Turnover		 9.86 9.10 9.02 9.76 10.28 14.40 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 13.07 12.56 11.57 10.10 9.90 9.41 9.25 9.14 8.35 7.87
Accounts Payable Turnover		 15.65 15.26 13.93 15.10 16.49 15.75 15.56 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 37.03 40.11 40.48 37.38 35.52 25.35 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 23.32 23.91 26.20 24.18 22.13 23.18 23.46 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 13.71 16.20 14.29 13.20 13.39 2.17 -23.46 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 -642 -1,466 -1,071 -1,088 -840 -1,111 -3,067 -3,124 -2,879 -3,424
Invested Capital Turnover		 -5.01 -3.95 -4.27 -4.21 -4.14 -1.81 -1.09 -1.05 -0.94 -0.81
Increase / (Decrease) in Invested Capital		 824 -396 17 -248 271 1,956 57 -245 545 -66
Enterprise Value (EV)		 38,466 31,447 37,681 29,274 19,381 22,769 14,185 12,064 10,454 8,332
Market Capitalization		 42,909 36,406 41,837 33,309 23,002 26,499 19,609 17,143 15,245 13,542
Book Value per Share		 $10.56 $9.69 $8.55 $8.18 $7.75 $7.29 $6.56 $5.44 $5.31 $4.92
Tangible Book Value per Share		 $4.66 $3.91 $2.85 $2.36 $1.52 $1.22 $3.90 $3.45 $3.29 $3.28
Total Capital		 4,618 4,302 3,892 3,753 3,583 3,416 2,357 1,955 1,912 1,786
Total Debt		 817 808 806 805 802 796 0.00 0.00 0.00 0.00
Total Long-Term Debt		 799 798 798 797 797 796 0.00 0.00 0.00 0.00
Net Debt		 -4,443 -4,959 -4,156 -4,036 -3,621 -3,730 -5,424 -5,079 -4,791 -5,210
Capital Expenditures (CapEx)		 192 137 143 123 137 129 194 103 107 106
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3,296 -4,031 -3,636 -3,595 -3,370 -3,684 -4,531 -4,078 -3,852 -4,295
Debt-free Net Working Capital (DFNWC)		 1,961 1,733 1,321 1,239 1,043 833 597 547 498 515
Net Working Capital (NWC)		 1,942 1,723 1,312 1,231 1,038 833 597 547 498 515
Net Nonoperating Expense (NNE)		 -33 -11 12 20 18 2.50 -6.58 -3.41 -2.96 -4.07
Net Nonoperating Obligations (NNO)		 -4,443 -4,959 -4,156 -4,036 -3,621 -3,730 -5,424 -5,079 -4,791 -5,210
Total Depreciation and Amortization (D&A)		 401 414 423 419 437 411 378 369 191 183
Debt-free, Cash-free Net Working Capital to Revenue		 -62.44% -80.51% -78.84% -88.60% -83.40% -97.65% -134.15% -129.35% -130.49% -156.77%
Debt-free Net Working Capital to Revenue		 37.15% 34.61% 28.65% 30.53% 25.81% 22.07% 17.67% 17.35% 16.86% 18.81%
Net Working Capital to Revenue		 36.80% 34.41% 28.46% 30.35% 25.68% 22.07% 17.67% 17.35% 16.86% 18.81%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.69 $4.32 $3.86 $3.05 $3.06 $2.88 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 360.30M 360.40M 360.60M 359.90M 358.50M 359.20M 0.00 0.00 0.00 0.00
Adjusted Diluted Earnings per Share		 $4.67 $4.30 $3.84 $3.03 $3.04 $2.86 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 362.10M 362.30M 363.10M 362.10M 361M 361.80M 0.00 0.00 0.00 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $2.88 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 360.13M 360.55M 359.91M 359.83M 358.77M 359.35M 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 1,657 1,546 1,405 1,118 1,116 1,037 988 823 754 671
Normalized NOPAT Margin		 31.39% 30.87% 30.46% 27.55% 27.62% 27.49% 29.24% 26.10% 25.54% 24.49%
Pre Tax Income Margin		 42.02% 40.91% 39.56% 35.35% 35.57% 36.26% 38.49% 39.93% 39.00% 38.69%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 77.81% 75.45% 71.77% 82.80% 80.99% 79.93% 74.41% 80.15% 80.14% 81.76%
Augmented Payout Ratio		 87.82% 75.45% 82.19% 96.98% 96.65% 85.43% 88.80% 100.27% 94.40% 108.79%

Quarterly Metrics And Ratios for Paychex

This table displays calculated financial ratios and metrics derived from Paychex's official financial filings.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 2/28/2025 11/30/2024 8/31/2024 5/31/2024 2/29/2024 11/30/2023 8/31/2023 5/31/2023 2/28/2023 11/30/2022 8/31/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 4.84% 4.69% 2.53% 5.33% 4.22% 5.68% 6.62% 7.45% 8.23% 7.38% 11.39%
EBITDA Growth		 7.16% 4.66% 1.28% 4.97% 4.86% 5.41% 5.80% 10.81% 7.02% 5.49% 9.71%
EBIT Growth		 6.46% 6.30% 1.94% 6.29% 6.19% 7.18% 8.21% 15.05% 8.72% 7.27% 11.90%
NOPAT Growth		 6.58% 6.60% 2.44% 8.63% 6.10% 7.18% 7.19% 14.07% 5.93% 7.17% 14.76%
Net Income Growth		 4.15% 5.27% 1.96% 8.42% 6.68% 8.99% 10.55% 18.22% 8.52% 8.49% 13.67%
EPS Growth		 3.62% 5.56% 1.72% 8.25% 6.98% 9.09% 10.48% 18.29% 8.40% 8.79% 14.13%
Operating Cash Flow Growth		 6.60% -5.24% -21.20% -46.89% 18.03% -12.41% 90.23% -0.95% -7.15% 109.31% -5.52%
Free Cash Flow Firm Growth		 -187.31% -171.12% -163.76% -161.20% 342.34% 1,238.46% 1,133.89% 160.65% -16.51% -130.51% -132.95%
Invested Capital Growth		 72.60% 85.51% 76.97% 56.20% -99.82% -475.43% -481.02% -36.96% -1.18% 56.55% 57.19%
Revenue Q/Q Growth		 14.59% -0.12% 1.81% -10.02% 14.42% -2.19% 4.59% -10.96% 16.02% -1.32% 5.41%
EBITDA Q/Q Growth		 26.60% -0.87% 9.94% -22.33% 23.64% -4.07% 13.94% -22.41% 24.29% -3.73% 19.34%
EBIT Q/Q Growth		 28.56% -1.57% 13.47% -25.85% 28.37% -5.61% 18.31% -25.92% 29.56% -4.70% 25.79%
NOPAT Q/Q Growth		 28.03% -2.45% 12.69% -24.28% 28.05% -6.25% 19.50% -26.04% 29.36% -6.25% 27.17%
Net Income Q/Q Growth		 25.62% -3.28% 12.50% -23.81% 26.97% -6.32% 19.63% -25.03% 29.73% -4.98% 27.94%
EPS Q/Q Growth		 25.44% -3.39% 12.38% -23.91% 27.78% -6.90% 19.59% -24.81% 30.30% -5.71% 28.05%
Operating Cash Flow Q/Q Growth		 142.71% -45.98% 146.32% -66.99% 92.74% -55.08% 66.03% -26.66% 60.13% -2.44% -13.55%
Free Cash Flow Firm Q/Q Growth		 -5.17% -1.45% -286.52% -121.17% -14.33% -9.06% 270.98% 53.04% 320.49% 17.41% -193.53%
Invested Capital Q/Q Growth		 -143.79% 42.99% -0.92% 80.47% -28.92% 9.37% -91.92% 10.89% -271.25% 8.49% 54.76%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 74.33% 71.21% 71.18% 71.03% 73.61% 71.05% 71.99% 69.93% 73.00% 69.81% 70.90%
EBITDA Margin		 53.34% 48.28% 48.65% 45.05% 52.19% 48.29% 49.25% 45.20% 51.87% 48.42% 49.63%
Operating Margin		 45.84% 40.86% 41.46% 37.20% 45.15% 40.24% 41.70% 36.87% 44.31% 39.68% 41.09%
EBIT Margin		 45.84% 40.86% 41.46% 37.20% 45.15% 40.24% 41.70% 36.87% 44.31% 39.68% 41.09%
Profit (Net Income) Margin		 34.41% 31.39% 32.42% 29.33% 34.64% 31.22% 32.60% 28.50% 33.85% 30.27% 31.44%
Tax Burden Percent		 75.72% 76.03% 76.72% 77.25% 75.64% 75.83% 76.34% 75.58% 75.70% 75.82% 77.07%
Interest Burden Percent		 99.13% 101.04% 101.90% 102.08% 101.45% 102.31% 102.39% 102.27% 100.90% 100.61% 99.27%
Effective Tax Rate		 24.28% 23.97% 23.28% 22.75% 24.36% 24.17% 23.66% 24.42% 24.30% 24.18% 22.93%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 44.25% 46.16% 45.67% 46.35% 46.47% 48.43% 47.50% 47.35% 44.96% 46.37% 46.54%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 20.57% 19.41% 19.41% 18.76% 19.92% 19.51% 19.89% 18.29% 20.88% 20.22% 21.04%
Return on Assets (ROA)		 15.44% 14.91% 15.17% 14.80% 15.29% 15.13% 15.55% 14.14% 15.95% 15.43% 16.10%
Return on Common Equity (ROCE)		 44.25% 46.16% 45.67% 46.35% 46.47% 48.43% 47.50% 47.35% 44.96% 46.37% 46.54%
Return on Equity Simple (ROE_SIMPLE)		 42.27% 43.80% 44.11% 0.00% 44.32% 46.24% 44.52% 0.00% 44.20% 45.76% 45.85%
Net Operating Profit after Tax (NOPAT)		 524 409 419 372 491 384 409 343 463 358 382
NOPAT Margin		 34.71% 31.07% 31.81% 28.74% 34.15% 30.51% 31.84% 27.86% 33.54% 30.09% 31.67%
Net Nonoperating Expense Percent (NNEP)		 -0.08% 0.08% 0.15% 0.16% 0.12% 0.18% 0.20% 0.17% 0.08% 0.06% -0.07%
Return On Investment Capital (ROIC_SIMPLE)		 10.62% 8.63% - - - 8.85% - - - - -
Cost of Revenue to Revenue		 25.67% 28.79% 28.82% 28.97% 26.39% 28.95% 28.01% 30.07% 27.00% 30.19% 29.10%
SG&A Expenses to Revenue		 28.48% 30.35% 29.72% 33.83% 28.47% 30.81% 30.29% 33.06% 28.69% 30.14% 29.81%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 28.48% 30.35% 29.72% 33.83% 28.47% 30.81% 30.29% 33.06% 28.69% 30.14% 29.81%
Earnings before Interest and Taxes (EBIT)		 692 538 547 482 650 506 536 453 612 472 496
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 805 636 641 583 751 608 633 556 716 576 599
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 13.27 13.41 12.27 11.29 11.59 12.13 11.91 10.42 11.17 13.22 13.32
Price to Tangible Book Value (P/TBV)		 27.10 28.93 27.34 25.59 27.12 30.95 29.52 25.81 29.13 38.50 40.78
Price to Revenue (P/Rev)		 10.04 9.80 8.90 8.13 8.33 8.30 8.40 7.27 7.72 8.80 8.83
Price to Earnings (P/E)		 30.41 29.33 26.23 25.16 25.24 25.75 26.94 23.77 28.22 33.51 34.21
Dividend Yield		 2.58% 2.62% 2.85% 3.06% 2.95% 2.92% 2.84% 3.23% 3.00% 2.58% 2.50%
Earnings Yield		 3.29% 3.41% 3.81% 3.97% 3.96% 3.88% 3.71% 4.21% 3.54% 2.98% 2.92%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 9.12 9.00 8.05 7.29 6.98 7.12 7.14 6.28 6.69 8.04 8.06
Enterprise Value to EBITDA (EV/EBITDA)		 18.61 18.51 16.55 14.94 14.28 14.60 14.63 12.85 13.76 16.51 16.48
Enterprise Value to EBIT (EV/EBIT)		 21.96 21.81 19.57 17.69 16.96 17.40 17.51 15.47 16.69 20.12 20.17
Enterprise Value to NOPAT (EV/NOPAT)		 28.75 28.57 25.65 23.22 22.36 22.94 23.08 20.34 21.90 26.21 26.26
Enterprise Value to Operating Cash Flow (EV/OCF)		 27.88 27.87 24.42 20.27 17.38 18.43 17.85 18.43 19.26 22.08 24.34
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 46.18 11.13 9.90 9.31 16.20 21.63 43.00 47.31
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.20 0.21 0.21 0.22 0.22 0.23 0.23 0.23 0.24 0.25 0.26
Long-Term Debt to Equity		 0.19 0.20 0.21 0.21 0.21 0.23 0.22 0.23 0.23 0.25 0.25
Financial Leverage		 -1.53 -1.39 -1.47 -1.29 -1.69 -1.44 -1.49 -1.39 -1.49 -1.23 -1.26
Leverage Ratio		 3.08 3.03 3.05 2.87 3.31 3.16 3.17 3.07 3.12 2.99 2.99
Compound Leverage Factor		 3.06 3.07 3.11 2.93 3.35 3.23 3.25 3.14 3.15 3.01 2.97
Debt to Total Capital		 16.55% 17.23% 17.52% 17.70% 17.91% 18.73% 18.46% 18.79% 19.20% 20.13% 20.48%
Short-Term Debt to Total Capital		 0.36% 0.38% 0.40% 0.40% 0.41% 0.31% 0.31% 0.24% 0.24% 0.25% 0.26%
Long-Term Debt to Total Capital		 16.20% 16.84% 17.11% 17.29% 17.49% 18.41% 18.14% 18.56% 18.96% 19.88% 20.22%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 83.45% 82.77% 82.49% 82.30% 82.09% 81.27% 81.54% 81.21% 80.80% 79.87% 79.52%
Debt to EBITDA		 0.31 0.31 0.32 0.32 0.32 0.32 0.33 0.33 0.34 0.34 0.35
Net Debt to EBITDA		 -1.88 -1.64 -1.74 -1.73 -2.76 -2.42 -2.58 -2.03 -2.11 -1.56 -1.56
Long-Term Debt to EBITDA		 0.30 0.31 0.31 0.31 0.31 0.32 0.32 0.33 0.33 0.34 0.34
Debt to NOPAT		 0.47 0.48 0.49 0.49 0.50 0.51 0.52 0.52 0.54 0.55 0.56
Net Debt to NOPAT		 -2.91 -2.54 -2.70 -2.68 -4.32 -3.80 -4.07 -3.21 -3.36 -2.47 -2.49
Long-Term Debt to NOPAT		 0.46 0.47 0.48 0.48 0.49 0.50 0.51 0.52 0.53 0.54 0.55
Altman Z-Score		 5.84 5.98 5.47 5.10 3.78 3.97 3.95 4.18 4.27 5.39 5.33
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.39 1.39 1.38 1.37 1.24 1.23 1.24 1.30 1.27 1.30 1.29
Quick Ratio		 0.60 0.59 0.60 0.59 0.43 0.42 0.44 0.52 0.50 0.56 0.55
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,863 -1,772 -1,746 -452 2,134 2,491 2,739 738 482 -219 -265
Operating Cash Flow to CapEx		 1,236.61% 595.96% 1,132.99% 486.18% 1,460.22% 569.10% 1,533.19% 931.70% 2,100.00% 1,242.66% 1,006.35%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.45 0.48 0.47 0.50 0.44 0.48 0.48 0.50 0.47 0.51 0.51
Accounts Receivable Turnover		 9.15 9.39 9.75 9.86 8.84 9.92 10.06 9.10 9.36 9.38 9.81
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 12.50 12.64 12.92 13.07 12.97 12.72 12.68 12.56 12.55 12.17 11.93
Accounts Payable Turnover		 14.31 16.68 17.02 15.65 13.62 16.39 16.25 15.26 12.34 16.48 17.04
Days Sales Outstanding (DSO)		 39.88 38.86 37.43 37.03 41.27 36.79 36.30 40.11 38.99 38.90 37.21
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 25.51 21.88 21.45 23.32 26.81 22.27 22.47 23.91 29.58 22.14 21.42
Cash Conversion Cycle (CCC)		 14.37 16.98 15.98 13.71 14.47 14.53 13.83 16.20 9.42 16.75 15.79
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -901 -370 -648 -642 -3,288 -2,550 -2,814 -1,466 -1,645 -443 -484
Invested Capital Turnover		 -2.60 -3.68 -3.07 -5.01 -2.11 -3.44 -3.08 -3.95 -3.01 -6.58 -5.86
Increase / (Decrease) in Invested Capital		 2,387 2,181 2,166 824 -1,643 -2,107 -2,330 -396 -19 577 647
Enterprise Value (EV)		 49,593 48,347 42,750 38,466 36,381 36,683 36,318 31,447 32,935 38,729 38,174
Market Capitalization		 54,611 52,642 47,249 42,909 43,416 42,758 42,720 36,406 37,982 42,377 41,796
Book Value per Share		 $11.43 $10.91 $10.69 $10.56 $10.41 $9.76 $9.95 $9.69 $9.44 $8.89 $8.72
Tangible Book Value per Share		 $5.60 $5.06 $4.80 $4.66 $4.45 $3.83 $4.01 $3.91 $3.62 $3.05 $2.85
Total Capital		 4,933 4,743 4,668 4,618 4,564 4,336 4,400 4,302 4,209 4,013 3,946
Total Debt		 817 817 818 817 817 812 812 808 808 808 808
Total Long-Term Debt		 799 799 799 799 799 798 798 798 798 798 798
Net Debt		 -5,017 -4,295 -4,499 -4,443 -7,035 -6,075 -6,402 -4,959 -5,047 -3,649 -3,622
Capital Expenditures (CapEx)		 58 50 48 46 46 55 45 45 27 29 36
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3,539 -2,994 -3,280 -3,296 -5,946 -5,202 -5,453 -4,031 -4,204 -2,998 -3,032
Debt-free Net Working Capital (DFNWC)		 2,295 2,119 2,036 1,961 1,904 1,683 1,759 1,733 1,647 1,454 1,394
Net Working Capital (NWC)		 2,277 2,100 2,018 1,942 1,886 1,669 1,745 1,723 1,637 1,444 1,383
Net Nonoperating Expense (NNE)		 4.54 -4.26 -7.98 -7.72 -7.11 -8.87 -9.77 -7.78 -4.16 -2.20 2.77
Net Nonoperating Obligations (NNO)		 -5,017 -4,295 -4,499 -4,443 -7,035 -6,075 -6,402 -4,959 -5,047 -3,649 -3,622
Total Depreciation and Amortization (D&A)		 113 98 95 102 101 101 97 103 104 104 103
Debt-free, Cash-free Net Working Capital to Revenue		 -65.06% -55.75% -61.76% -62.44% -114.07% -100.93% -107.20% -80.51% -85.41% -62.24% -64.04%
Debt-free Net Working Capital to Revenue		 42.19% 39.45% 38.34% 37.15% 36.53% 32.65% 34.57% 34.61% 33.47% 30.19% 29.43%
Net Working Capital to Revenue		 41.87% 39.12% 37.99% 36.80% 36.17% 32.39% 34.30% 34.41% 33.26% 29.98% 29.21%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.44 $1.15 $1.19 $1.05 $1.39 $1.09 $1.16 $0.97 $1.30 $1.00 $1.05
Adjusted Weighted Average Basic Shares Outstanding		 360.10M 360M 360.10M 360.30M 359.90M 360.50M 360.80M 360.40M 360.50M 360.50M 360.10M
Adjusted Diluted Earnings per Share		 $1.43 $1.14 $1.18 $1.05 $1.38 $1.08 $1.16 $0.97 $1.29 $0.99 $1.05
Adjusted Weighted Average Diluted Shares Outstanding		 362M 361.70M 361.90M 362.10M 361.70M 362.10M 362.80M 362.30M 362.30M 362.30M 362.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 360.19M 360.06M 359.90M 360.13M 359.96M 359.82M 361.23M 360.55M 360.51M 360.47M 360.40M
Normalized Net Operating Profit after Tax (NOPAT)		 524 409 419 372 491 384 409 343 463 358 382
Normalized NOPAT Margin		 34.71% 31.07% 31.81% 28.74% 34.15% 30.51% 31.84% 27.86% 33.54% 30.09% 31.67%
Pre Tax Income Margin		 45.45% 41.29% 42.25% 37.97% 45.80% 41.17% 42.70% 37.70% 44.71% 39.92% 40.79%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 81.15% 80.23% 79.29% 77.81% 77.27% 76.57% 75.90% 75.45% 75.75% 74.49% 72.73%
Augmented Payout Ratio		 87.16% 86.31% 95.37% 87.82% 87.46% 86.95% 75.90% 75.45% 85.41% 84.39% 82.82%

Frequently Asked Questions About Paychex's Financials

When does Paychex's financial year end?

According to the most recent income statement we have on file, Paychex's fiscal year ends in May. Their fiscal year 2024 ended on May 31, 2024.

How has Paychex's net income changed over the last 9 years?

Paychex's net income appears to be on an upward trend, with a most recent value of $1.69 billion in 2024, rising from $674.90 million in 2015. The previous period was $1.56 billion in 2023. Find out what analysts predict for Paychex in the coming months.

What is Paychex's operating income?
Paychex's total operating income in 2024 was $2.17 billion, based on the following breakdown:
  • Total Gross Profit: $3.80 billion
  • Total Operating Expenses: $1.62 billion
How has Paychex revenue changed over the last 9 years?

Over the last 9 years, Paychex's total revenue changed from $2.74 billion in 2015 to $5.28 billion in 2024, a change of 92.7%.

How much debt does Paychex have?

Paychex's total liabilities were at $6.58 billion at the end of 2024, a 6.7% decrease from 2023, and a 40.6% increase since 2015.

How much cash does Paychex have?

In the past 9 years, Paychex's cash and equivalents has ranged from $131.50 million in 2016 to $1.47 billion in 2024, and is currently $1.47 billion as of their latest financial filing in 2024.

How has Paychex's book value per share changed over the last 9 years?

Over the last 9 years, Paychex's book value per share changed from 4.92 in 2015 to 10.56 in 2024, a change of 114.8%.


Related Companies

This page (NASDAQ:PAYX) was last updated on 5/29/2025 by MarketBeat.com Staff
From Our Partners
Market Panic: Trump Just Dropped a Bomb on Your Stocks
tock Market Panic: Trump Just Dropped a Bomb on Your Stocks The market is in freefall—and Trump's new tarif...
American Alternative | Sponsored
White House to reset Social Security?
Elon Musk's parting DOGE gift looks set to shock America... A single announcement by July 22nd could soon b...
Altimetry | Sponsored
July 2025 Rule Change to Impact Retirement Investors
There's a massive change from a new rule going into effect this July. And it's one the Big Banks are alread...
Premier Gold Co | Sponsored
Is President Trump Lying To You With This?
President Trump’s economic transition isn’t without hardship. But what if there were a smart, tax-free way to ...
Colonial Metals | Sponsored
A grave, grave error.
I thought what happened 25 years ago was a once- in-a-lifetime event… but how wrong I was. Because here we...
Porter & Company | Sponsored
Silicon Valley Gold Rush
A new technology has sparked a modern-day gold rush in Silicon Valley. OpenAI’s Sam Altman invested $375M. Bil...
Stansberry Research | Sponsored
Buffett’s favorite chart just hit 209% – here’s what that means for gold
A Historic Gold Announcement Is About to Rock Wall Street For months, sharp-eyed analysts have watched the ...
Golden Portfolio | Sponsored
Trump Exec Order 14179 is wealth “gift” to good Americans?
Is President Trump’s Executive Order 14179… A secret way to restore wealth for good citizens? If you’ve ...
Paradigm Press | Sponsored