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Paychex (Paychex) Cyclically Adjusted PB Ratio : 14.53 (As of Jul. 24, 2024)


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What is Paychex Cyclically Adjusted PB Ratio?

As of today (2024-07-24), Paychex's current share price is $122.925. Paychex's Cyclically Adjusted Book per Share for the quarter that ended in May. 2024 was $8.46. Paychex's Cyclically Adjusted PB Ratio for today is 14.53.

The historical rank and industry rank for Paychex's Cyclically Adjusted PB Ratio or its related term are showing as below:

PAYX' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 8.83   Med: 13.65   Max: 20.76
Current: 14.62

During the past years, Paychex's highest Cyclically Adjusted PB Ratio was 20.76. The lowest was 8.83. And the median was 13.65.

PAYX's Cyclically Adjusted PB Ratio is ranked worse than
95.68% of 695 companies
in the Business Services industry
Industry Median: 1.55 vs PAYX: 14.62

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 adjusted book value per share data for the three months ended in May. 2024 was $10.555. 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 $8.46 for the trailing ten years ended in May. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Paychex Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Paychex's Cyclically Adjusted PB Ratio 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 PB Ratio Chart

Paychex Annual Data
Trend May15 May16 May17 May18 May19 May20 May21 May22 May23 May24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.67 16.00 17.18 13.41 14.20

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 PB Ratio 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 13.41 15.30 15.11 14.85 14.20

Competitive Comparison of Paychex's Cyclically Adjusted PB Ratio

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 PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=122.925/8.46
=14.53

* 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's Cyclically Adjusted Book per Share for the quarter that ended in May. 2024 is calculated as:

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)
=10.555/132.5091*132.5091
=10.555

Current CPI (May. 2024) = 132.5091.

Paychex Quarterly Data

Book Value per Share CPI Adj_Book
201408 4.921 100.352 6.498
201411 5.051 99.635 6.718
201502 5.154 99.032 6.896
201505 4.943 100.333 6.528
201508 4.967 100.548 6.546
201511 5.148 100.135 6.812
201602 5.204 100.040 6.893
201605 5.304 101.355 6.934
201608 5.497 101.617 7.168
201611 5.060 101.829 6.585
201702 5.280 102.779 6.807
201705 5.440 103.256 6.981
201708 5.416 103.587 6.928
201711 5.482 104.072 6.980
201802 5.693 105.052 7.181
201805 6.565 106.148 8.195
201808 6.649 106.383 8.282
201811 6.752 106.338 8.414
201902 7.229 106.649 8.982
201905 7.291 108.048 8.942
201908 7.039 108.245 8.617
201911 7.169 108.519 8.754
202002 7.694 109.139 9.342
202005 7.752 108.175 9.496
202008 7.729 109.662 9.339
202011 8.013 109.793 9.671
202102 8.261 110.968 9.865
202105 8.193 113.576 9.559
202108 8.440 115.421 9.690
202111 8.648 117.269 9.772
202202 9.102 119.703 10.076
202205 8.572 123.323 9.211
202208 8.705 124.958 9.231
202211 8.892 125.607 9.381
202302 9.434 126.928 9.849
202305 9.690 128.314 10.007
202308 9.932 129.538 10.160
202311 9.795 129.548 10.019
202402 10.410 130.930 10.536
202405 10.555 132.509 10.555

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


Paychex  (NAS:PAYX) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Paychex Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Paychex's Cyclically Adjusted PB Ratio 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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