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Paychex (Paychex) Cyclically Adjusted Book per Share : $8.45 (As of May. 2024)


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What is Paychex Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Paychex's adjusted book value per share for the three months ended in May. 2024 was $10.559. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $8.45 for the trailing ten years ended in May. 2024.

During the past 12 months, Paychex's average Cyclically Adjusted Book Growth Rate was 8.10% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 10.20% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 9.90% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 6.70% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Paychex was 29.50% per year. The lowest was 1.40% per year. And the median was 10.65% per year.

As of today (2024-07-12), Paychex's current stock price is $118.33. Paychex's Cyclically Adjusted Book per Share for the quarter that ended in May. 2024 was $8.45. Paychex's Cyclically Adjusted PB Ratio of today is 14.00.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Paychex was 20.76. The lowest was 8.83. And the median was 13.57.


Paychex Cyclically Adjusted Book per Share Historical Data

The historical data trend for Paychex's Cyclically Adjusted Book per Share 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 Cyclically Adjusted Book per Share Chart

Paychex Annual Data
Trend May15 May16 May17 May18 May19 May20 May21 May22 May23 May24
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.70 6.32 7.21 7.82 8.45

Paychex Quarterly Data
Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24
Cyclically Adjusted Book per Share Get a 7-Day Free Trial 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 7.82 7.99 8.07 8.26 8.45

Competitive Comparison of Paychex's Cyclically Adjusted Book per Share

For the Staffing & Employment Services subindustry, Paychex's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio 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's Cyclically Adjusted PB Ratio Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Paychex's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Paychex's Cyclically Adjusted PB Ratio falls into.



Paychex Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Paychex's adjusted Book Value per Share data for the three months ended in May. 2024 was:

Adj_Book= Book Value per Share /CPI of May. 2024 (Change)*Current CPI (May. 2024)
=10.559/132.2892*132.2892
=10.559

Current CPI (May. 2024) = 132.2892.

Paychex Quarterly Data

Book Value per Share CPI Adj_Book
201408 4.921 100.352 6.487
201411 5.051 99.635 6.706
201502 5.154 99.032 6.885
201505 4.943 100.333 6.517
201508 4.967 100.548 6.535
201511 5.148 100.135 6.801
201602 5.204 100.040 6.882
201605 5.304 101.355 6.923
201608 5.497 101.617 7.156
201611 5.060 101.829 6.574
201702 5.280 102.779 6.796
201705 5.440 103.256 6.970
201708 5.416 103.587 6.917
201711 5.482 104.072 6.968
201802 5.693 105.052 7.169
201805 6.565 106.148 8.182
201808 6.649 106.383 8.268
201811 6.752 106.338 8.400
201902 7.229 106.649 8.967
201905 7.291 108.048 8.927
201908 7.039 108.245 8.603
201911 7.169 108.519 8.739
202002 7.694 109.139 9.326
202005 7.752 108.175 9.480
202008 7.729 109.662 9.324
202011 8.013 109.793 9.655
202102 8.261 110.968 9.848
202105 8.193 113.576 9.543
202108 8.440 115.421 9.673
202111 8.648 117.269 9.756
202202 9.102 119.703 10.059
202205 8.572 123.323 9.195
202208 8.705 124.958 9.216
202211 8.892 125.607 9.365
202302 9.434 126.928 9.833
202305 9.690 128.314 9.990
202308 9.932 129.538 10.143
202311 9.795 129.548 10.002
202402 10.410 130.930 10.518
202405 10.559 132.289 10.559

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Paychex  (NAS:PAYX) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Paychex's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=118.33/8.45
=14.00

* 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.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Paychex was 20.76. The lowest was 8.83. And the median was 13.57.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Paychex Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Paychex's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Paychex (Paychex) Business Description

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 740,000 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
Flaschen David J S director 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Christopher C Simmons officer: VP, Controller & Treasurer 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Michael E Gioja officer: Sr. Vice President 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Efrain Rivera officer: Sr. Vice President, CFO 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Martin Mucci officer: Sr. Vice President 911 PANORAMA TRAIL S, ROCHESTER NY 14625
Joseph M Tucci director EMC CORPORATION, 176 SOUTH STREET, HOPKINTON MA 01748
Joseph M Velli director
Elizabeth Roaldsen officer: Sr. Vice President 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Karen E. Saunders-mcclendon officer: VP, Chief Human Resources Offi 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Theresa M. Payton director 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
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
Robert L. Schrader officer: VP/Controller 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Stephanie L Schaeffer officer: Chief Legal Officer 911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Joseph Doody director CASELLA WASTE SYSTEMS INC, 25 GREENS HILL LANE PO BOX 866, RUTLAND VT 05701

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