Goodwill to Asset ratio measures how much goodwill a company is recording compared to the total level of its assets. Paychex's Goodwill for the quarter that ended in Feb. 2023 was $1,834 Mil. Paychex's Total Assets for the quarter that ended in Feb. 2023 was $10,604 Mil.
Therefore, Paychex's Goodwill to Asset Ratio for the quarter that ended in Feb. 2023 was 0.17.
Paychex Goodwill-to-Asset Historical Data
The historical data trend for Paychex's Goodwill-to-Asset 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
Goodwill-to-Asset
0.10
0.21
0.21
0.20
0.19
Paychex Quarterly Data
May18
Aug18
Nov18
Feb19
May19
Aug19
Nov19
Feb20
May20
Aug20
Nov20
Feb21
May21
Aug21
Nov21
Feb22
May22
Aug22
Nov22
Feb23
Goodwill-to-Asset
0.18
0.19
0.20
0.20
0.17
Competitive Comparison
For the Staffing & Employment Services subindustry, Paychex's Goodwill-to-Asset, along with its competitors' market caps and Goodwill-to-Asset 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 Goodwill-to-Asset Distribution
For the Business Services industry and Industrials sector, Paychex's Goodwill-to-Asset distribution charts can be found below:
* The bar in red indicates where Paychex's Goodwill-to-Asset falls in comparison to its industry or sector. The grey bar indicates the Goodwill-to-Asset's extreme value range as defined by GuruFocus.
Paychex Goodwill-to-Asset Calculation
Goodwill to Asset ratio measures how much goodwill a company is recording compared to the total level of its assets.
It is calculated by dividing goodwill by total assets.
Paychex's Goodwill to Asset Ratio for the fiscal year that ended in May. 2022 is calculated as
* 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) Goodwill-to-Asset Explanation
If the goodwill-to-asset ratio increases, it can mean that the company is recording a proportionately higher amount of goodwill, assuming total assets are remaining constant. It is generally good to see a company increasing its assets regularly; however, if these increases are coming from intangible assets, such as goodwill, the increases may not be as good.
Increases in the goodwill-to-asset ratio might suggest that a company has been aggressively acquiring other firms or has seen its tangible assets decrease in value. When a large portion of total assets are attributable to intangible assets (such as goodwill), the company may be at risk of having that portion of its asset base wiped out quickly if it must record any goodwill impairments. Decreases in the goodwill-to-assets ratio suggest that the company has either written down some goodwill or increased its tangible assets.
Asset needs vary from industry to industry. This is why comparing goodwill-to-assets ratios is generally most meaningful among companies within the same industry. By comparing a company's goodwill to assets ratio to those of other companies within the same industry, investors can get a feel for how a company is managing its goodwill.
Paychex Goodwill-to-Asset Related Terms
Thank you for viewing the detailed overview of Paychex's Goodwill-to-Asset 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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