Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Paychex's cash to debt ratio for the quarter that ended in Feb. 2023 was 1.79.
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Paychex could pay off its debt using the cash in hand for the quarter that ended in Feb. 2023.
The historical rank and industry rank for Paychex's Cash-to-Debt or its related term are showing as below:
PAYX'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.07 Med: No Debt Max: No Debt
Current: 1.79
During the past 13 years, Paychex's highest Cash to Debt Ratio was No Debt. The lowest was 0.07. And the median was No Debt.
PAYX's Cash-to-Debt is ranked better than 59.11% of 1054
companies
in the Business Services industry
Industry Median: 1.02
vs PAYX: 1.79
Paychex Cash-to-Debt Historical Data
The historical data trend for Paychex's Cash-to-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
Cash-to-Debt
No Debt
0.88
1.04
1.15
1.39
Paychex Quarterly Data
May18
Aug18
Nov18
Feb19
May19
Aug19
Nov19
Feb20
May20
Aug20
Nov20
Feb21
May21
Aug21
Nov21
Feb22
May22
Aug22
Nov22
Feb23
Cash-to-Debt
1.53
1.39
1.40
1.44
1.79
Competitive Comparison
For the Staffing & Employment Services subindustry, Paychex's Cash-to-Debt, along with its competitors' market caps and Cash-to-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 Cash-to-Debt Distribution
For the Business Services industry and Industrials sector, Paychex's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Paychex's Cash-to-Debt falls in comparison to its industry or sector. The grey bar indicates the Cash-to-Debt's extreme value range as defined by GuruFocus.
* 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.
Paychex (NAS:PAYX) Cash-to-Debt Explanation
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Paychex Cash-to-Debt Related Terms
Thank you for viewing the detailed overview of Paychex's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.
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.
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