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Paychex (Paychex) Cyclically Adjusted PS Ratio : 9.70 (As of Jul. 16, 2024)


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What is Paychex Cyclically Adjusted PS Ratio?

As of today (2024-07-16), Paychex's current share price is $123.15. Paychex's Cyclically Adjusted Revenue per Share for the quarter that ended in May. 2024 was $12.70. Paychex's Cyclically Adjusted PS Ratio for today is 9.70.

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

PAYX' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 6.08   Med: 9.15   Max: 13.91
Current: 9.58

During the past years, Paychex's highest Cyclically Adjusted PS Ratio was 13.91. The lowest was 6.08. And the median was 9.15.

PAYX's Cyclically Adjusted PS Ratio is ranked worse than
95.42% of 699 companies
in the Business Services industry
Industry Median: 0.88 vs PAYX: 9.58

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 PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Paychex's adjusted revenue per share data for the three months ended in May. 2024 was $3.580. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $12.70 for the trailing ten years ended in May. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Paychex Cyclically Adjusted PS Ratio Historical Data

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

Paychex Annual Data
Trend May15 May16 May17 May18 May19 May20 May21 May22 May23 May24
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.45 10.72 11.50 8.91 9.46

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 PS 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 8.91 10.17 10.04 9.86 9.46

Competitive Comparison of Paychex's Cyclically Adjusted PS Ratio

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

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

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



Paychex Cyclically Adjusted PS Ratio Calculation

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

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

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=123.15/12.7
=9.70

* 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 Revenue per Share for the quarter that ended in May. 2024 is calculated as:

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

Adj_RevenuePerShare=Revenue per Share/CPI of May. 2024 (Change)*Current CPI (May. 2024)
=3.58/132.2892*132.2892
=3.580

Current CPI (May. 2024) = 132.2892.

Paychex Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201408 1.828 100.352 2.410
201411 1.855 99.635 2.463
201502 1.930 99.032 2.578
201505 1.902 100.333 2.508
201508 1.993 100.548 2.622
201511 1.994 100.135 2.634
201602 2.078 100.040 2.748
201605 2.078 101.355 2.712
201608 2.157 101.617 2.808
201611 2.127 101.829 2.763
201702 2.200 102.779 2.832
201705 2.211 103.256 2.833
201708 2.195 103.587 2.803
201711 2.222 104.072 2.824
201802 2.586 105.052 3.256
201805 2.341 106.148 2.918
201808 2.387 106.383 2.968
201811 2.376 106.338 2.956
201902 2.960 106.649 3.672
201905 2.705 108.048 3.312
201908 2.744 108.245 3.354
201911 2.747 108.519 3.349
202002 3.165 109.139 3.836
202005 2.537 108.175 3.103
202008 2.580 109.662 3.112
202011 2.717 109.793 3.274
202102 3.064 110.968 3.653
202105 2.840 113.576 3.308
202108 2.985 115.421 3.421
202111 3.053 117.269 3.444
202202 3.511 119.703 3.880
202205 3.151 123.323 3.380
202208 3.328 124.958 3.523
202211 3.285 125.607 3.460
202302 3.812 126.928 3.973
202305 3.394 128.314 3.499
202308 3.545 129.538 3.620
202311 3.474 129.548 3.548
202402 3.979 130.930 4.020
202405 3.580 132.289 3.580

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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 PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.


Paychex Cyclically Adjusted PS Ratio Related Terms

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