| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | 2 | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | 1 | 1 | 3 | — | — |
| total | individual payouts | |
|---|---|---|
| 2029 | ‡‡‡‡‡ |
|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 4.43 |
—
—
—
|
| 2025 | 4.22 |
—
—
—
—
|
| 2024 | 3.83 |
—
—
—
—
|
| 2023 | 3.46 |
—
—
—
—
|
| 2022 | 3.03 |
—
—
—
—
|
| 2021 | 2.60 |
—
—
—
—
|
| 2020 | 2.48 |
—
—
—
—
|
| 2019 | 2.42 |
—
—
—
—
|
| 2018 | 2.18 |
—
—
—
—
|
| 2017 | 1.92 |
—
—
—
—
|
| 2016 | 1.76 |
—
—
—
—
|
| 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
| Cash | 1,645.20 | 1,550.60 | 1,711.00 | 1,177.30 |
| Receivables | 1,426.20 | 1,625.30 | 1,975.00 | 2,207.90 |
| Inventory | — | — | — | — |
| Other | 4,118.80 | 3,706.20 | 4,813.30 | 4,832.20 |
| 7,528.10 | 7,251.50 | 8,916.50 | 8,613.30 |
| 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
| Payables | 84.70 | 104.30 | 129.80 | 154.80 |
| ST’ Debt | 10.20 | 18.70 | 418.40 | — |
| Other | 4,689.40 | 4,338.50 | 5,419.00 | 5,521.70 |
| 5,805.40 | 5,309.10 | 6,956.30 | 6,840.60 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Aug | Nov | Feb | May | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’26 | 1,540.00 | 1,557.60 | 1,808.90 | 1,605.50 |
6,512.00
|
| ’25 | 1,318.50 | 1,316.90 | 1,509.00 | 1,427.30 |
5,571.70
|
| ’24 | 1,286.00 | 1,257.90 | 1,439.30 | 1,295.10 |
5,278.30
|
| ’23 | 1,206.20 | 1,190.30 | 1,381.00 | 1,229.60 |
5,007.10
|
| ’22 | 1,082.90 | 1,108.50 | 1,276.00 | 1,144.30 |
4,611.70
|
| ’21 | 932.20 | 983.70 | 1,111.70 | 1,029.20 |
4,056.80
|
| Aug | Nov | Feb | May | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’26 | 718.40 | 444.90 | 812.50 | 580.90 |
2,556.70
|
| ’25 | 546.10 | 295.00 | 716.00 | 343.80 |
1,900.90
|
| ’24 | 693.00 | 311.30 | 671.70 | 221.70 |
1,897.70
|
| ’23 | 364.30 | 355.40 | 569.10 | 417.40 |
1,706.20
|
| ’22 | 385.60 | 169.80 | 612.90 | 421.40 |
1,589.70
|
| ’21 | 215.00 | 215.70 | 439.90 | 389.70 |
1,260.30
|
| Aug | Nov | Feb | May | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’26 | 662.50 | 382.80 | 761.50 | 515.00 |
2,321.80
|
| ’25 | 510.50 | 248.00 | 667.30 | 283.30 |
1,709.10
|
| ’24 | 654.30 | 270.60 | 631.00 | 180.40 |
1,736.30
|
| ’23 | 333.70 | 329.80 | 545.00 | 371.40 |
1,579.90
|
| ’22 | 355.20 | 135.60 | 578.20 | 388.10 |
1,457.10
|
| ’21 | 194.30 | 185.60 | 407.60 | 358.20 |
1,145.70
|
| Aug | Nov | Feb | May | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’26 | 1.06 | 1.10 | 1.56 | 1.17 |
4.89
|
| ’25 | 1.18 | 1.14 | 1.43 | 0.82 |
4.58
|
| ’24 | 1.16 | 1.08 | 1.38 | 1.05 |
4.67
|
| ’23 | 1.05 | 0.99 | 1.29 | 0.97 |
4.30
|
| ’22 | 0.92 | 0.91 | 1.19 | 0.82 |
3.84
|
| ’21 | 0.59 | 0.75 | 0.97 | 0.73 |
3.03
|
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 105.66 | 104.09 | 114.72 | 108.00 | 85.45 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 141.92 | 129.70 | 150.71 | 161.24 | 127.98 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16,000 | 16,600 | 16,500 | 19,000 | 17,600 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.29 | 0.30 | 0.32 | 0.29 | 0.37 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,611.70 | 5,007.10 | 5,278.30 | 5,571.70 | 6,512.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 70.59% | 70.98% | 71.97% | 72.35% | 74.29% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,824.60 | 2,048.20 | 2,218.00 | 2,175.90 | 2,310.90 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 39.56% | 40.91% | 42.02% | 39.05% | 35.49% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,392.80 | 1,557.30 | 1,690.40 | 1,657.30 | 1,760.10 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 422.80 | 413.90 | 401.20 | 469.40 | 684.20 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.79 | 13.89 | 14.65 | 15.47 | 18.14 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 3.86 | 4.32 | 4.69 | 4.60 | 4.90 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.41 | 4.73 | 5.27 | 5.28 | 7.12 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.37) | (0.35) | (0.45) | (0.53) | (0.65) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.04 | 4.38 | 4.82 | 4.74 | 6.47 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.56 | 9.69 | 10.55 | 11.46 | 10.41 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 360.60 | 360.40 | 360.30 | 360.20 | 358.90 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.08 | 24.29 | 25.57 | 34.24 | 20.86 | ‡‡‡‡ | ‡‡‡‡ | — |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.68 | 7.55 | 8.20 | 10.18 | 5.65 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.47 | 10.83 | 11.39 | 13.74 | 9.84 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.58 | 7.39 | 8.06 | 10.77 | 6.23 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.32 | 23.41 | 24.51 | 35.10 | 17.46 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,589.70 | 1,706.20 | 1,897.70 | 1,900.90 | 2,556.70 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (132.60) | (126.30) | (161.40) | (191.80) | (234.90) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,457.10 | 1,579.90 | 1,736.30 | 1,709.10 | 2,321.80 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,312.40 | 1,722.70 | 1,942.40 | 1,960.20 | 1,772.70 | — | — | — |
Working Cap'
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 806.40 | 808.40 | 817.30 | 4,966.80 | 4,556.10 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (467.80) | (836.80) | (733.30) | 3,255.80 | 3,378.80 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,085.20 | 3,493.20 | 3,801.00 | 4,128.00 | 3,735.10 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.77% | 15.43% | 16.15% | 12.30% | 10.75% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 43.94% | 47.83% | 44.29% | 18.69% | 22.06% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 46.17% | 47.35% | 46.35% | 41.80% | 44.77% | — | — | — |
ROE
|
Paychex (PAYX) stands as a resilient powerhouse in payroll and HCM services, delivering steady revenue growth from $2.95 billion in 2016 to $5.28 billion in 2024—a robust 8% CAGR—fueled by a sticky client base, efficient scaling (revenue per employee up 46%), and 70%+ gross margins that shield against economic storms like the pandemic and inflation. High ROE (42-47%), explosive net income growth (118%), and FCF per share surging 89% underscore its compounding machine status, mirroring peers like ADP while funding dividends and buybacks with fortress-like liquidity.
Yet, the stock trades 25-38% below recent highs, offering compelling value at 25x trailing PE and 5.8x forward EV/Sales, with analysts forecasting revenue to $7.28 billion and EPS to $6.20 by 2028—implying 10-15% annual returns if execution persists. Insider sells dominate but post-dip buys signal confidence, bolstered by strategic acquisitions and AI tailwinds, though rising debt and SMB macro risks temper the enthusiasm.
This setup evokes classic “accumulate on weakness” opportunities, with mean targets pointing to 28% upside and fair value potentially 20-40% higher—perfect for patient investors eyeing enduring quality amid uncertainty.
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