NAS:PAYX (USA) Also trade in: Austria Germany

Paychex Inc

$ 87.37 0.26 (0.3%)
Volume: 276,321 Avg Vol (1m): 1,784,682
Market Cap $: 31.42 Bil Enterprise Value $: 31.54 Bil
P/E (TTM): 30.67 P/B: 12.16
Earnings Power Value 27.46
Net Current Asset Value -1.31
Tangible Book 1.09
Projected FCF 36.72
Median P/S Value 61.45
Graham Number 8.38
Peter Lynch Value 20.98
DCF (FCF Based) 38.03
DCF (Earnings Based) 32.09
1Y (-%)

Financial Strength : 7/10

GuruFocus Financial Strength Rank measures how strong a company's financial situation is . It is based on these factors
1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
Current vs industry vs history
Cash-to-Debt 0.86
Cash-To-Debt ranked higher than
98.72% of 625 companies
in the Business Services industry.
Industry Max: 10000, Med: 0.97, Min: -5244.17
PAYX: 0.86
Ranked among companies with meaningful Cash-To-Debt only.
Cash-To-Debt range over the past 10 years
Min: 0.07, Med: 10000, Max: 10000
Current: 0.86
0.07
10000
Equity-to-Asset 0.25
Equity-to-Asset ranked lower than
81.98% of 605 companies
in the Business Services industry.
Industry Max: 1, Med: 0.52, Min: -27
PAYX: 0.25
Ranked among companies with meaningful Equity-to-Asset only.
Equity-to-Asset range over the past 10 years
Min: 0.18, Med: 0.3, Max: 0.87
Current: 0.25
0.18
0.87
Debt-to-Equity 0.33
Debt-to-Equity ranked lower than
100.00% of 465 companies
in the Business Services industry.
Industry Max: 42.31, Med: 0.43, Min: 0.01
PAYX: 0.33
Ranked among companies with meaningful Debt-to-Equity only.
Debt-to-Equity range over the past 10 years
Min: 0.01, Med: 0.03, Max: 0.33
Current: 0.33
0.01
0.33
Debt-to-EBITDA 0.56
Debt-to-EBITDA ranked higher than
96.26% of 454 companies
in the Business Services industry.
Industry Max: 283.3, Med: 2.25, Min: 0.01
PAYX: 0.56
Ranked among companies with meaningful Debt-to-EBITDA only.
Debt-to-EBITDA range over the past 10 years
Min: 0, Med: 0, Max: 0.56
Current: 0.56
0
0.56
Interest Coverage 148.89
Interest Coverage ranked higher than
73.02% of 556 companies
in the Business Services industry.
Industry Max: 91653.5, Med: 19.71, Min: 0.16
PAYX: 148.89
Ranked among companies with meaningful Interest Coverage only.
Interest Coverage range over the past 10 years
Min: 148.89, Med: 5022.07, Max: 10000
Current: 148.89
148.89
10000
Piotroski F-Score 7
0
1
2
3
4
5
6
7
8
9
Altman Z-Score 3.48
DISTRESS
GREY
SAFE
Beneish M-Score -2.13
Not Manipulator
Manipulator
WACC vs ROIC %
ROIC 49.71%
WACC 9.53%

Profitability & Growth : 9/10

GuruFocus Profitability Rank ranks how profitable a company is and how likely the company's business will stay that way.
Current vs industry vs history
Operating Margin % 37.21
Operating Margin ranked higher than
98.22% of 617 companies
in the Business Services industry.
Industry Max: 5900, Med: 6.41, Min: -54300
PAYX: 37.21
Ranked among companies with meaningful Operating Margin only.
Operating Margin range over the past 10 years
Min: 36.23, Med: 38.38, Max: 39.34
Current: 37.21
36.23
39.34
Net Margin % 26.40
Net Margin ranked higher than
96.28% of 619 companies
in the Business Services industry.
Industry Max: 19896.3, Med: 4.15, Min: -43600
PAYX: 26.4
Ranked among companies with meaningful Net Margin only.
Net Margin range over the past 10 years
Min: 23.84, Med: 24.82, Max: 27.62
Current: 26.4
23.84
27.62
ROE % 41.87
ROE ranked higher than
95.81% of 597 companies
in the Business Services industry.
Industry Max: 3571.25, Med: 8.83, Min: -6953.32
PAYX: 41.87
Ranked among companies with meaningful ROE only.
ROE range over the past 10 years
Min: 33.69, Med: 36.73, Max: 46.92
Current: 41.87
33.69
46.92
ROA % 12.41
ROA ranked higher than
87.28% of 629 companies
in the Business Services industry.
Industry Max: 51.2, Med: 3.69, Min: -448835.11
PAYX: 12.41
Ranked among companies with meaningful ROA only.
ROA range over the past 10 years
Min: 9, Med: 10.12, Max: 13.06
Current: 12.41
9
13.06
ROC (Joel Greenblatt) % 270.65
ROC (Joel Greenblatt) ranked higher than
93.87% of 620 companies
in the Business Services industry.
Industry Max: 192979.45, Med: 22.23, Min: -1020642.86
PAYX: 270.65
Ranked among companies with meaningful ROC (Joel Greenblatt) only.
ROC (Joel Greenblatt) range over the past 10 years
Min: 248.66, Med: 266.75, Max: 304.76
Current: 270.65
248.66
304.76
3-Year Total Revenue Growth Rate 7.30
3-Year Revenue Growth Rate ranked higher than
63.21% of 549 companies
in the Business Services industry.
Industry Max: 350.3, Med: 4.1, Min: -100
PAYX: 7.6
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
3-Year Revenue Growth Rate range over the past 10 years
Min: -13.2, Med: 11.2, Max: 57.3
Current: 7.6
-13.2
57.3
3-Year Total EBITDA Growth Rate 7.20
3-Year EBITDA Growth Rate ranked higher than
55.85% of 496 companies
in the Business Services industry.
Industry Max: 498.3, Med: 5.3, Min: -323.6
PAYX: 7.5
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
3-Year EBITDA Growth Rate range over the past 10 years
Min: 2.2, Med: 12.3, Max: 72.5
Current: 7.5
2.2
72.5
3-Year EPS w/o NRI Growth Rate 11.70
3-Year EPS w/o NRI Growth Rate ranked higher than
54.38% of 434 companies
in the Business Services industry.
Industry Max: 405.6, Med: 9.5, Min: -324.8
PAYX: 11.7
Ranked among companies with meaningful 3-Year EPS w/o NRI Growth Rate only.
3-Year EPS w/o NRI Growth Rate range over the past 10 years
Min: -3.1, Med: 15.2, Max: 286
Current: 11.7
-3.1
286

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Business Description

Industry Business Services » Business Services    NAICS : 561499    SIC : 7389
Compare NAS:FISV LSE:EXPN NYSE:FIS NYSE:FDC NYSE:WP NAS:VRSK NYSE:GPN NAS:INFO NAS:CTAS NYSE:FLT XSWX:SGSN TSE:4901 XPAR:SW NYSE:EFX ASX:BXB NYSE:BR NYSE:TRU NYSE:ROL NAS:JKHY LSE:ITRK
Traded in other countries PCX.Germany
Address 911 Panorama Trail South, Rochester, NY, USA, 14625-2396
Paychex competes in the payroll outsourcing industry. It is the second-largest player in terms of revenue and focuses on providing this service to small and midsize businesses. Paychex was created from the consolidation of 17 payroll processors in 1979 and services about 590,000 clients. The firm has almost 13,000 employees and is based in Rochester, New York.

Ratios

Current vs industry vs history
PE Ratio (TTM) 30.67
PE Ratio ranked lower than
60.12% of 499 companies
in the Business Services industry.
Industry Max: 1325, Med: 22.72, Min: 0.03
PAYX: 30.67
Ranked among companies with meaningful PE Ratio only.
PE Ratio range over the past 10 years
Min: 13.69, Med: 23.77, Max: 31.39
Current: 30.67
13.69
31.39
Forward PE Ratio 28.25
Forward P/E ranked lower than
74.80% of 127 companies
in the Business Services industry.
Industry Max: 49.75, Med: 19.16, Min: 3.73
PAYX: 28.25
Ranked among companies with meaningful Forward P/E only.
N/A
PE Ratio without NRI 30.67
PE without NRI ranked lower than
60.60% of 500 companies
in the Business Services industry.
Industry Max: 1325, Med: 22.11, Min: 0.03
PAYX: 30.67
Ranked among companies with meaningful PE without NRI only.
PE without NRI range over the past 10 years
Min: 13.69, Med: 23.77, Max: 31.39
Current: 30.67
13.69
31.39
Price-to-Owner-Earnings 28.68
Price-to-Owner-Earnings ranked lower than
53.92% of 306 companies
in the Business Services industry.
Industry Max: 531.44, Med: 22.95, Min: 1.13
PAYX: 28.68
Ranked among companies with meaningful Price-to-Owner-Earnings only.
Price-to-Owner-Earnings range over the past 10 years
Min: 12.82, Med: 23.25, Max: 29.43
Current: 28.68
12.82
29.43
PB Ratio 12.16
PB Ratio ranked lower than
93.97% of 597 companies
in the Business Services industry.
Industry Max: 710, Med: 2.31, Min: 0.06
PAYX: 12.16
Ranked among companies with meaningful PB Ratio only.
PB Ratio range over the past 10 years
Min: 5.68, Med: 8.56, Max: 12.77
Current: 12.16
5.68
12.77
PS Ratio 8.68
PS Ratio ranked lower than
91.83% of 600 companies
in the Business Services industry.
Industry Max: 1600, Med: 1.24, Min: 0.02
PAYX: 8.68
Ranked among companies with meaningful PS Ratio only.
PS Ratio range over the past 10 years
Min: 3.95, Med: 6.1, Max: 8.68
Current: 8.68
3.95
8.68
Price-to-Free-Cash-Flow 26.55
Price-to-Free-Cash-Flow ranked lower than
51.65% of 273 companies
in the Business Services industry.
Industry Max: 2085, Med: 21.44, Min: 2.08
PAYX: 26.55
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
Price-to-Free-Cash-Flow range over the past 10 years
Min: 12.07, Med: 20.87, Max: 27.42
Current: 26.55
12.07
27.42
Price-to-Operating-Cash-Flow 24.12
Price-to-Operating-Cash-Flow ranked lower than
65.59% of 340 companies
in the Business Services industry.
Industry Max: 3126.03, Med: 14.75, Min: 0.27
PAYX: 24.12
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
Price-to-Operating-Cash-Flow range over the past 10 years
Min: 10.84, Med: 18.41, Max: 24.12
Current: 24.12
10.84
24.12
EV-to-EBIT 23.07
EV-to-EBIT ranked higher than
54.20% of 500 companies
in the Business Services industry.
Industry Max: 1489.11, Med: 16.6, Min: 0.09
PAYX: 23.07
Ranked among companies with meaningful EV-to-EBIT only.
EV-to-EBIT range over the past 10 years
Min: 10.5, Med: 15.4, Max: 23.1
Current: 23.07
10.5
23.1
EV-to-EBITDA 20.64
EV-to-EBITDA ranked lower than
56.84% of 526 companies
in the Business Services industry.
Industry Max: 1424.59, Med: 12.55, Min: 0.09
PAYX: 20.64
Ranked among companies with meaningful EV-to-EBITDA only.
EV-to-EBITDA range over the past 10 years
Min: 9.5, Med: 13.9, Max: 20.7
Current: 20.64
9.5
20.7
EV-to-Revenue 8.66
EV-to-Revenue ranked lower than
88.08% of 604 companies
in the Business Services industry.
Industry Max: 23439, Med: 1.47, Min: 0.02
PAYX: 8.66
Ranked among companies with meaningful EV-to-Revenue only.
EV-to-Revenue range over the past 10 years
Min: 3.7, Med: 5.9, Max: 8.7
Current: 8.66
3.7
8.7
PEG Ratio 3.92
PEG Ratio ranked lower than
66.11% of 239 companies
in the Business Services industry.
Industry Max: 343, Med: 2.1, Min: 0.04
PAYX: 3.92
Ranked among companies with meaningful PEG Ratio only.
PEG Ratio range over the past 10 years
Min: 1.19, Med: 3.64, Max: 8.6
Current: 3.92
1.19
8.6
Shiller PE Ratio 42.95
Shiller PE Ratio ranked lower than
65.03% of 183 companies
in the Business Services industry.
Industry Max: 1709.42, Med: 29.53, Min: 0.19
PAYX: 42.95
Ranked among companies with meaningful Shiller PE Ratio only.
Shiller PE Ratio range over the past 10 years
Min: 19.35, Med: 27.6, Max: 42.95
Current: 42.95
19.35
42.95
Current Ratio 1.11
Current Ratio ranked lower than
78.18% of 614 companies
in the Business Services industry.
Industry Max: 556.87, Med: 1.64, Min: 0.01
PAYX: 1.11
Ranked among companies with meaningful Current Ratio only.
Current Ratio range over the past 10 years
Min: 1.07, Med: 1.22, Max: 7.39
Current: 1.11
1.07
7.39
Quick Ratio 1.11
Quick Ratio ranked lower than
70.85% of 614 companies
in the Business Services industry.
Industry Max: 556.87, Med: 1.49, Min: 0.01
PAYX: 1.11
Ranked among companies with meaningful Quick Ratio only.
Quick Ratio range over the past 10 years
Min: 1.07, Med: 1.22, Max: 7.39
Current: 1.11
1.07
7.39
Days Sales Outstanding 82.30
Days Sales Outstanding ranked higher than
56.80% of 588 companies
in the Business Services industry.
Industry Max: 815.98, Med: 60.92, Min: 0.37
PAYX: 82.3
Ranked among companies with meaningful Days Sales Outstanding only.
Days Sales Outstanding range over the past 10 years
Min: 20.93, Med: 30.29, Max: 82.3
Current: 82.3
20.93
82.3
Days Payable 24.07
Days Payable ranked lower than
67.62% of 525 companies
in the Business Services industry.
Industry Max: 967, Med: 46.52, Min: -0.7
PAYX: 24.07
Ranked among companies with meaningful Days Payable only.
Days Payable range over the past 10 years
Min: 20.02, Med: 23.75, Max: 37.97
Current: 24.07
20.02
37.97

Dividend & Buy Back

Current vs industry vs history
Dividend Yield % 2.63
Trailing Dividend Yield ranked higher than
66.67% of 693 companies
in the Business Services industry.
Industry Max: 136.99, Med: 2.25, Min: 0.03
PAYX: 2.63
Ranked among companies with meaningful Trailing Dividend Yield only.
Trailing Dividend Yield range over the past 10 years
Min: 1.54, Med: 3.3, Max: 5.87
Current: 2.63
1.54
5.87
Dividend Payout Ratio 0.85
Dividend Payout Ratio ranked lower than
66.33% of 401 companies
in the Business Services industry.
Industry Max: 40, Med: 0.42, Min: 0.01
PAYX: 0.85
Ranked among companies with meaningful Dividend Payout Ratio only.
Dividend Payout Ratio range over the past 10 years
Min: 0.42, Med: 0.82, Max: 0.94
Current: 0.85
0.42
0.94
3-Year Dividend Growth Rate (Per Share) 10.70
3-Year Dividend Growth Rate ranked higher than
58.74% of 269 companies
in the Business Services industry.
Industry Max: 131.5, Med: 7.7, Min: -100
PAYX: 10.7
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
3-Year Dividend Growth Rate range over the past 10 years
Min: -19.4, Med: 26.7, Max: 93.5
Current: 10.7
-19.4
93.5
Forward Dividend Yield % 2.85
Forward Dividend Yield ranked higher than
65.17% of 646 companies
in the Business Services industry.
Industry Max: 230.93, Med: 2.5, Min: 0.03
PAYX: 2.85
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield-on-Cost (5-Year) % 6.88
Yield-on-Cost (5y) ranked higher than
88.76% of 676 companies
in the Business Services industry.
Industry Max: 136.99, Med: 2.72, Min: 0.03
PAYX: 6.88
Ranked among companies with meaningful Yield-on-Cost (5y) only.
Yield-on-Cost (5y) range over the past 10 years
Min: 4.01, Med: 8.59, Max: 15.29
Current: 6.88
4.01
15.29
3-Year Share Buyback Rate 0.20
3-Year Share Buyback Rate ranked higher than
79.01% of 405 companies
in the Business Services industry.
Industry Max: 63.2, Med: -1.8, Min: -337.1
PAYX: 0.2
Ranked among companies with meaningful 3-Year Share Buyback Rate only.
3-Year Share Buyback Rate range over the past 10 years
Min: -2.5, Med: -0.4, Max: 1.8
Current: 0.2
-2.5
1.8

Valuation & Return

Current vs industry vs history
Price-to-Tangible-Book 80.21
Price-to-Tangible-Book ranked lower than
91.91% of 470 companies
in the Business Services industry.
Industry Max: 1420, Med: 2.9, Min: 0.06
PAYX: 80.21
Ranked among companies with meaningful Price-to-Tangible-Book only.
Price-to-Tangible-Book range over the past 10 years
Min: 3.29, Med: 13.5, Max: 80.21
Current: 80.21
3.29
80.21
Price-to-Projected-FCF 2.38
Price-to-Intrinsic-Value-Projected-FCF ranked lower than
67.40% of 319 companies
in the Business Services industry.
Industry Max: 56.83, Med: 1.54, Min: 0.13
PAYX: 2.38
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
Price-to-Intrinsic-Value-Projected-FCF range over the past 10 years
Min: 0.97, Med: 2.25, Max: 9.32
Current: 2.38
0.97
9.32
Price-to-DCF (Earnings Based) 2.72
Price-to-Intrinsic-Value-DCF (Earnings Based) ranked lower than
75.76% of 66 companies
in the Business Services industry.
Industry Max: 6.97, Med: 1.53, Min: 0.19
PAYX: 2.72
Ranked among companies with meaningful Price-to-Intrinsic-Value-DCF (Earnings Based) only.
Price-to-Intrinsic-Value-DCF (Earnings Based) range over the past 10 years
Min: 0.51, Med: 1.65, Max: 3.46
Current: 2.72
0.51
3.46
Price-to-Median-PS-Value 1.42
Price-to-Median-PS-Value ranked lower than
62.16% of 510 companies
in the Business Services industry.
Industry Max: 147.09, Med: 1.08, Min: 0.01
PAYX: 1.42
Ranked among companies with meaningful Price-to-Median-PS-Value only.
Price-to-Median-PS-Value range over the past 10 years
Min: 0.21, Med: 1.07, Max: 5.46
Current: 1.42
0.21
5.46
Price-to-Peter-Lynch-Fair-Value 4.17
Price-to-Peter-Lynch-Fair-Value ranked lower than
85.61% of 139 companies
in the Business Services industry.
Industry Max: 30.77, Med: 1.61, Min: 0.05
PAYX: 4.17
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
Price-to-Peter-Lynch-Fair-Value range over the past 10 years
Min: 1.26, Med: 3.25, Max: 6.42
Current: 4.17
1.26
6.42
Price-to-Graham-Number 10.43
Price-to-Graham-Number ranked lower than
89.34% of 347 companies
in the Business Services industry.
Industry Max: 36.04, Med: 1.75, Min: 0.11
PAYX: 10.43
Ranked among companies with meaningful Price-to-Graham-Number only.
Price-to-Graham-Number range over the past 10 years
Min: 2.51, Med: 4.87, Max: 12.01
Current: 10.43
2.51
12.01
Earnings Yield (Joel Greenblatt) % 4.33
Earnings Yield (Greenblatt) ranked higher than
63.30% of 624 companies
in the Business Services industry.
Industry Max: 1111.11, Med: 4.76, Min: -10000
PAYX: 4.33
Ranked among companies with meaningful Earnings Yield (Greenblatt) only.
Earnings Yield (Greenblatt) range over the past 10 years
Min: 4.3, Med: 6.5, Max: 9.5
Current: 4.33
4.3
9.5
Forward Rate of Return (Yacktman) % 10.42
Forward Rate of Return ranked higher than
58.36% of 365 companies
in the Business Services industry.
Industry Max: 5453.81, Med: 8.6, Min: -52.24
PAYX: 10.42
Ranked among companies with meaningful Forward Rate of Return only.
Forward Rate of Return range over the past 10 years
Min: 7.6, Med: 11, Max: 18.5
Current: 10.42
7.6
18.5

More Statistics

Revenue (TTM) (Mil) $ 3,641
EPS (TTM) $ 2.85
Beta 1.19
Volatility % 22.41
52-Week Range $ 61.32 - 87.27
Shares Outstanding (Mil) 359.39

Analyst Estimate

Piotroski F-Score Details

Piotroski F-Score 7
Positive ROA Y
Positive CFROA Y
Higher ROA yoy Y
CFROA > ROA Y
Lower Leverage yoy N
Higher Current Ratio yoy Y
Less Shares Outstanding yoy Y
Higher Gross Margin yoy N
Higher Asset Turnover yoy Y