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Paychex, Inc. PAYX

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Price alert · PAYX

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115.84 USD -3.66 (-3.06%)

Nov 6, 2026, 9:33 AM EST

115.27 Day range 116.58
85.57 52-week range 127.34
YTD
+3.26%
1 year
+2.68%

Financial health

Altman Z-Score

3.41 Safe zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

7 / 9 Strong

Nine pass/fail tests of profitability, leverage and efficiency.

Rating

B+3 / 5 overall

  • DCF 4
  • Return on Equity 5
  • Return on Assets 5
  • Debt / Equity 1
  • P/E 2
  • P/B 1

Valuation

P/E 20.9×
FY 2017: 26.1×FY 2018: 25.2×FY 2019: 29.8×FY 2020: 23.5×FY 2021: 33.1×FY 2022: 32.1×FY 2023: 24.3×FY 2024: 25.6×FY 2025: 34.3×FY 2026: 20.9×
FY 2017 5y median 25.6× FY 2026
P/S 5.6×
FY 2017: 6.8×FY 2018: 7.0×FY 2019: 8.2×FY 2020: 6.4×FY 2021: 9.0×FY 2022: 9.7×FY 2023: 7.6×FY 2024: 8.2×FY 2025: 10.2×FY 2026: 5.6×
FY 2017 5y median 8.2× FY 2026
P/B 9.8×
FY 2017: 10.9×FY 2018: 11.6×FY 2019: 11.8×FY 2020: 9.3×FY 2021: 12.3×FY 2022: 14.5×FY 2023: 10.8×FY 2024: 11.4×FY 2025: 13.8×FY 2026: 9.8×
FY 2017 5y median 11.4× FY 2026
P/FCF 15.8×
FY 2017: 24.6×FY 2018: 21.0×FY 2019: 26.4×FY 2020: 19.6×FY 2021: 31.7×FY 2022: 32.5×FY 2023: 24.3×FY 2024: 24.9×FY 2025: 32.3×FY 2026: 15.8×
FY 2017 5y median 24.9× FY 2026
EV/EBITDA 13.4×
FY 2017: 15.3×FY 2018: 16.2×FY 2019: 19.9×FY 2020: 15.4×FY 2021: 21.8×FY 2022: 22.0×FY 2023: 16.6×FY 2024: 17.6×FY 2025: 24.2×FY 2026: 13.4×
FY 2017 5y median 17.6× FY 2026
EV/Sales 6.2×
FY 2017: 6.7×FY 2018: 6.9×FY 2019: 8.2×FY 2020: 6.4×FY 2021: 8.9×FY 2022: 9.8×FY 2023: 7.5×FY 2024: 8.1×FY 2025: 10.8×FY 2026: 6.2×
FY 2017 5y median 8.1× FY 2026
FCF Yield 6.3%
FY 2017: 4.1%FY 2018: 4.8%FY 2019: 3.8%FY 2020: 5.1%FY 2021: 3.2%FY 2022: 3.1%FY 2023: 4.1%FY 2024: 4.0%FY 2025: 3.1%FY 2026: 6.3%
FY 2017 5y median 4.0% FY 2026

Profitability

Gross Margin 74.3%
FY 2017: 70.8%FY 2018: 69.9%FY 2019: 68.8%FY 2020: 68.3%FY 2021: 68.7%FY 2022: 70.6%FY 2023: 71.0%FY 2024: 72.0%FY 2025: 72.4%FY 2026: 74.3%
FY 2017 5y median 72.0% FY 2026
Operating Margin 38.6%
FY 2017: 39.3%FY 2018: 38.1%FY 2019: 36.3%FY 2020: 36.1%FY 2021: 36.0%FY 2022: 39.9%FY 2023: 40.6%FY 2024: 41.2%FY 2025: 39.6%FY 2026: 38.6%
FY 2017 5y median 39.9% FY 2026
Net Margin 27.0%
FY 2017: 25.9%FY 2018: 27.6%FY 2019: 27.4%FY 2020: 27.2%FY 2021: 27.1%FY 2022: 30.2%FY 2023: 31.1%FY 2024: 32.0%FY 2025: 29.7%FY 2026: 27.0%
FY 2017 5y median 30.2% FY 2026
ROE 47.1%
FY 2017: 41.8%FY 2018: 46.1%FY 2019: 39.5%FY 2020: 39.5%FY 2021: 37.2%FY 2022: 45.1%FY 2023: 44.6%FY 2024: 44.5%FY 2025: 40.1%FY 2026: 47.1%
FY 2017 5y median 44.6% FY 2026
ROIC 20.4%
FY 2017: 38.6%FY 2018: 42.8%FY 2019: 27.0%FY 2020: 27.0%FY 2021: 25.8%FY 2022: 32.1%FY 2023: 32.5%FY 2024: 32.5%FY 2025: 16.8%FY 2026: 20.4%
FY 2017 5y median 32.1% FY 2026
ROA 10.9%
FY 2017: 12.0%FY 2018: 12.5%FY 2019: 11.9%FY 2020: 12.8%FY 2021: 11.9%FY 2022: 14.5%FY 2023: 14.8%FY 2024: 16.3%FY 2025: 10.0%FY 2026: 10.9%
FY 2017 5y median 14.5% FY 2026

Growth (YoY)

Revenue 16.9%
FY 2017: 6.8%FY 2018: 7.3%FY 2019: 11.6%FY 2020: 7.1%FY 2021: 0.4%FY 2022: 13.7%FY 2023: 8.6%FY 2024: 5.4%FY 2025: 5.6%FY 2026: 16.9%
FY 2017 FY 2026
Operating Income 13.7%
FY 2017: 8.1%FY 2018: 3.9%FY 2019: 6.5%FY 2020: 6.5%FY 2021: 0.0%FY 2022: 26.0%FY 2023: 10.5%FY 2024: 6.9%FY 2025: 1.5%FY 2026: 13.7%
FY 2017 FY 2026
EPS (diluted) 6.8%
FY 2017: 7.7%FY 2018: 14.7%FY 2019: 10.9%FY 2020: 6.3%FY 2021: -0.3%FY 2022: 26.7%FY 2023: 12.0%FY 2024: 8.6%FY 2025: -1.9%FY 2026: 6.8%
FY 2017 FY 2026
Free Cash Flow 32.0%
FY 2017: -5.9%FY 2018: 29.6%FY 2019: 3.9%FY 2020: 12.7%FY 2021: -12.8%FY 2022: 19.8%FY 2023: 13.4%FY 2024: 11.6%FY 2025: 1.3%FY 2026: 32.0%
FY 2017 FY 2026

Financial Health

Current Ratio 1.3×
FY 2017: 1.1×FY 2018: 1.1×FY 2019: 1.2×FY 2020: 1.2×FY 2021: 1.2×FY 2022: 1.2×FY 2023: 1.3×FY 2024: 1.4×FY 2025: 1.3×FY 2026: 1.3×
FY 2017 5y median 1.3× FY 2026
Quick Ratio 1.3×
FY 2017: 1.1×FY 2018: 1.1×FY 2019: 1.2×FY 2020: 1.2×FY 2021: 1.2×FY 2022: 1.2×FY 2023: 1.3×FY 2024: 1.4×FY 2025: 1.3×FY 2026: 1.3×
FY 2017 5y median 1.3× FY 2026
Debt / Equity 1.2×
FY 2017: 0.0×FY 2018: 0.0×FY 2019: 0.3×FY 2020: 0.3×FY 2021: 0.3×FY 2022: 0.3×FY 2023: 0.2×FY 2024: 0.2×FY 2025: 1.2×FY 2026: 1.2×
FY 2017 5y median 0.3× FY 2026
Net Debt / EBITDA 1.2×
FY 2017: -0.1×FY 2018: -0.3×FY 2019: 0.1×FY 2020: -0.0×FY 2021: -0.0×FY 2022: 0.2×FY 2023: -0.2×FY 2024: -0.2×FY 2025: 1.4×FY 2026: 1.2×
FY 2017 5y median 0.2× FY 2026
Interest Coverage 9.3×
FY 2017: 496×FY 2018: 330×FY 2019: 77.9×FY 2020: 37.6×FY 2021: 40.8×FY 2022: 50.3×FY 2023: 55.4×FY 2024: 58.3×FY 2025: 20.9×FY 2026: 9.3×
FY 2017 5y median 50.3× FY 2026

Dividends

Dividend Yield 4.3%
FY 2017: 3.1%FY 2018: 3.1%FY 2019: 2.7%FY 2020: 3.4%FY 2021: 2.5%FY 2022: 2.2%FY 2023: 3.1%FY 2024: 3.0%FY 2025: 2.5%FY 2026: 4.3%
FY 2017 5y median 3.0% FY 2026
Payout Ratio 90.3%
FY 2017: 81.0%FY 2018: 79.2%FY 2019: 79.9%FY 2020: 81.0%FY 2021: 82.8%FY 2022: 71.8%FY 2023: 75.5%FY 2024: 77.8%FY 2025: 87.4%FY 2026: 90.3%
FY 2017 5y median 77.8% FY 2026

Annual · latest fiscal year ends 2026-05-31