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Paychex (NAS:PAYX) Effective Interest Rate on Debt %

: 4.12% (As of Feb. 2023)
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Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Paychex's annualized positive value of Interest Expense for the quarter that ended in Feb. 2023 was $36 Mil. Paychex's average total debt for the quarter that ended in Feb. 2023 was $873 Mil. Therefore, Paychex's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2023 was 4.12%.


Paychex Effective Interest Rate on Debt % Historical Data

The historical data trend for Paychex's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Paychex Annual Data
Trend May13 May14 May15 May16 May17 May18 May19 May20 May21 May22
Effective Interest Rate on Debt %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 2.17 4.54 3.99 4.12

Paychex Quarterly Data
May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23
Effective Interest Rate on Debt % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.05 4.12 4.14 4.20 4.12

Competitive Comparison

For the Staffing & Employment Services subindustry, Paychex's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Paychex Effective Interest Rate on Debt % Distribution

For the Business Services industry and Industrials sector, Paychex's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Paychex's Effective Interest Rate on Debt % falls in comparison to its industry or sector. The grey bar indicates the Effective Interest Rate on Debt %'s extreme value range as defined by GuruFocus.



Paychex Effective Interest Rate on Debt % Calculation

Paychex's annualized Effective Interest Rate on Debt % for the fiscal year that ended in May. 2022 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: May. 2021 )+Total Debt  (A: May. 2022 ))/ count )
=-1  *  -36.6/( (897.1+881.2)/ 2 )
=-1  *  -36.6/889.15
=4.12 %

where

Total Debt  (A: May. 2021 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=889.7 + 7.4
=897.1

Total Debt  (A: May. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=872.5 + 8.7
=881.2

Paychex's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Nov. 2022 )+Total Debt  (Q: Feb. 2023 ))/ count )
=-1  *  -36/( (874.8+871.2)/ 2 )
=-1  *  -36/873
=4.12 %

where

Total Debt  (Q: Nov. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=864.7 + 10.1
=874.8

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Feb. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Paychex  (NAS:PAYX) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Paychex Effective Interest Rate on Debt % Related Terms

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Paychex (NAS:PAYX) Business Description

Paychex logo
Industry
Traded in Other Exchanges
Address
911 Panorama Trail South, Rochester, NY, USA, 14625-2396
Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 730,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.
Executives
Kevin A Price director 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Karen E. Saunders-mcclendon officer: VP, Chief Human Resources Offi 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Robert L. Schrader officer: VP/Controller 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Kara Wilson director C/O SUCCESSFACTORS, INC., 1500 FASHION ISLAND BLVD., SUITE 300, SAN MATEO CA 94404
Tom Bonadio director 1021 HOWARD AVE, SAN CARLOS CA 94070
John B Gibson officer: Sr. VP, Service CONVERGYS CORPORATION, 201 EAST FOURTH STREET, CINCINNATI OH 45202
Mark Anthony Bottini officer: Sr. VP of Sales 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Kevin N Hill officer: Vice President 50 WREN FIELD LN, PITTSFORD NY 114534
Michael E Gioja officer: Sr. Vice President 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Rebecca F Bernson officer: Sr. Vice President, Sales 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Efrain Rivera officer: Sr. Vice President, CFO 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Laurie L. Zaucha officer: Vice President 400 WILLOWBROOK OFFICE PARK, FAIRPORT NY 14450
Joseph Doody director CASELLA WASTE SYSTEMS INC, 25 GREENS HILL LANE PO BOX 866, RUTLAND VT 05701
Delbert M Humenik officer: Sr. Vice President 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Jennifer R. Vossler officer: VP/Controller 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625

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