Sunday 11 October 2026
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Paychex, Inc.
PAYX Technology Software Application
Paychex, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $6.5 billion, up 16.9% from fiscal 2025. In the quarter to August 2026, revenue grew 5.88%, EPS grew 13.1%, free cash flow fell 46.1% and total debt fell 8.27%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for five; insiders bought in the last twelve months.
103.98
0.48
−0.46%
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| May '17 | May '18 | May '19 | May '20 | May '21 | May '22 | May '23 | May '24 | May '25 | May '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
8 | 6 | 4 | 8 | 6 | 7 | 9 | 9 | 5 | 6 |
P/E ratio |
26.21 | 22.67 | 29.79 | 23.44 | 33.11 | 32.08 | 24.29 | 25.57 | 34.24 | 20.86 |
Altman Z-Score |
3.97 | 3.82 | 4.35 | 4.11 | 4.82 | 5.61 | 4.79 | 5.67 | 3.85 | 2.88 |
P/S ratio |
6.76 | 6.97 | 8.17 | 6.38 | 8.96 | 9.68 | 7.55 | 8.20 | 10.18 | 5.65 |
Altman Z″-Score (non-manufacturers) |
2.61 | 2.56 | 2.68 | 3.00 | 2.94 | 3.24 | 3.51 | 3.94 | 2.47 | 2.44 |
P/FCF ratio |
24.61 | 20.98 | 26.85 | 19.63 | 31.72 | 30.65 | 23.94 | 24.93 | 33.19 | 15.84 |
P/Operating CF |
111.52 | 81.89 | 123.91 | 66.45 | 93.27 | 105.96 | 90.60 | 195.28 | 165.01 | 63.29 |
Beneish M-Score |
(2.44) | (2.59) | (1.89) | (2.69) | (2.30) | (2.39) | (2.51) | (2.41) | (2.17) | (2.65) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 60 |
P/B ratio |
10.90 | 9.99 | 11.76 | 9.27 | 12.33 | 14.47 | 10.83 | 11.39 | 13.74 | 9.84 |
Price to Tangible BV |
17.18 | 16.80 | 70.39 | 39.10 | 42.69 | 43.39 | 25.69 | 25.12 | 0.00 | 0.00 |
EV/Sales |
6.67 | 6.86 | 8.19 | 6.34 | 8.89 | 9.58 | 7.39 | 8.06 | 10.77 | 6.23 |
EV/EBITDA |
12.97 | 13.88 | 17.34 | 13.50 | 19.19 | 19.53 | 15.11 | 16.53 | 22.41 | 12.69 |
EV/Operating CF |
21.91 | 18.16 | 24.30 | 17.78 | 28.62 | 27.79 | 21.67 | 22.43 | 31.56 | 15.86 |
EV/FCF |
24.30 | 20.65 | 26.93 | 19.49 | 31.48 | 30.32 | 23.41 | 24.51 | 35.10 | 17.46 |
Quick Ratio |
0.18 | 0.18 | 0.33 | 0.40 | 0.43 | 0.49 | 0.53 | 0.60 | 0.53 | 0.49 |
Current Ratio |
1.12 | 1.11 | 1.17 | 1.23 | 1.25 | 1.25 | 1.30 | 1.37 | 1.28 | 1.26 |
Net Debt/EBITDA |
(0.20) | (0.25) | 0.02 | (0.09) | (0.15) | (0.21) | (0.34) | (0.28) | 1.22 | 1.06 |
Debt/Assets |
0.00% | 0.00% | 9.18% | 9.38% | 8.72% | 8.37% | 7.67% | 7.87% | 29.99% | 28.17% |
Debt/Equity |
0.00 | 0.00 | 0.30 | 0.29 | 0.27 | 0.26 | 0.23 | 0.22 | 1.20 | 1.22 |
Asset Turnover |
0.48 | 0.46 | 0.45 | 0.47 | 0.46 | 0.49 | 0.50 | 0.50 | 0.41 | 0.40 |
Operating CF/Net income |
1.16 | 1.28 | 1.23 | 1.31 | 1.15 | 1.14 | 1.10 | 1.12 | 1.15 | 1.45 |
Capex/Depreciation |
(0.26) | (0.41) | (0.30) | (0.29) | (0.27) | (0.31) | (0.31) | (0.40) | (0.41) | (0.34) |
Interest Coverage |
125.39 | 107.63 | 105.48 | 1,460.50 | 1,460.70 | 613.33 | 55.40 | 58.29 | 20.95 | 9.32 |
| 42.74% | 46.11% | 41.57% | 40.66% | 38.31% | 46.17% | 47.35% | 46.35% | 41.80% | 44.77% | |
| 12.45% | 13.48% | 12.47% | 12.75% | 12.35% | 14.77% | 15.43% | 16.15% | 12.30% | 10.75% | |
ROIC |
48.02% | 41.77% | 32.31% | 35.09% | 34.20% | 43.94% | 47.83% | 44.29% | 18.69% | 22.06% |
Return on Tangible Assets |
93.46% | 100.37% | 83.33% | 75.99% | 67.45% | 81.27% | 73.49% | 71.81% | 67.05% | 74.53% |
Average Days of Receivables |
62.91 | 56.69 | 82.65 | 71.39 | 94.79 | 104.33 | 103.97 | 112.39 | 129.38 | 123.75 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
31.07% | 31.62% | 32.43% | 32.15% | 32.66% | 30.69% | 30.38% | 30.78% | 32.73% | 35.73% |
Intangible Assets out of Total Assets |
0.10 | 0.12 | 0.25 | 0.25 | 0.23 | 0.21 | 0.19 | 0.20 | 0.39 | 0.38 |
Share Based Compensation of Revenue |
1.12% | 1.32% | 1.22% | 1.17% | 1.29% | 1.14% | 1.25% | 1.16% | 2.01% | 1.48% |
Graham Net Nets |
0.02 | 0.01 | (0.01) | (0.01) | 0.00 | 0.00 | 0.01 | 0.02 | (0.06) | (0.10) |
Graham Number |
16.62 | 20.67 | 21.74 | 23.15 | 23.71 | 27.26 | 30.69 | 33.40 | 34.44 | 33.91 |
Earnings Yield |
3.82% | 4.41% | 3.36% | 4.27% | 3.02% | 3.12% | 4.12% | 3.91% | 2.92% | 4.79% |
Free Cash Flow Yield |
4.06% | 4.77% | 3.72% | 5.09% | 3.15% | 3.26% | 4.18% | 4.01% | 3.01% | 6.32% |
Revenue per Share |
8.76 | 9.41 | 10.50 | 11.27 | 11.27 | 12.79 | 13.89 | 14.65 | 15.47 | 18.14 |
Operating CF per Share |
2.67 | 3.56 | 3.54 | 4.02 | 3.50 | 4.41 | 4.73 | 5.27 | 5.28 | 7.12 |
Capex per Share |
(0.26) | (0.43) | (0.34) | (0.35) | (0.32) | (0.37) | (0.35) | (0.45) | (0.53) | (0.65) |
Free Cash Flow per Share |
2.41 | 3.13 | 3.20 | 3.67 | 3.18 | 4.04 | 4.38 | 4.82 | 4.74 | 6.47 |
Cash per Share |
0.90 | 1.18 | 2.12 | 2.74 | 3.01 | 3.53 | 4.56 | 4.30 | 4.75 | 3.28 |
Shareholders Equity per Share |
5.43 | 6.56 | 7.29 | 7.76 | 8.19 | 8.56 | 9.69 | 10.55 | 11.46 | 10.41 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
5.43 | 6.56 | 7.29 | 7.76 | 8.19 | 8.56 | 9.69 | 10.55 | 11.46 | 10.41 |
Free Cash Flow |
866.10 | 1,122.40 | 1,147.70 | 1,313.90 | 1,145.70 | 1,457.10 | 1,579.90 | 1,736.30 | 1,709.10 | 2,321.80 |
Working Capital |
546.90 | 596.90 | 832.70 | 1,037.70 | 1,231.30 | 1,312.40 | 1,722.70 | 1,942.40 | 1,960.20 | 1,772.70 |
Capital Expenditures |
(94.30) | (154.00) | (123.80) | (127.00) | (114.60) | (132.60) | (126.30) | (161.40) | (191.80) | (234.90) |
Net Current Asset Value |
393.60 | 335.00 | (378.80) | (304.70) | (109.70) | 31.60 | 474.90 | 669.40 | (3,519.60) | (3,826.10) |
EV/EBIT |
16.78 | 17.95 | 22.54 | 17.54 | 24.69 | 24.01 | 18.19 | 19.58 | 27.17 | 16.15 |
Capex to Sales |
0.03 | 0.05 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 |
Price to Operating Income |
17.00 | 18.23 | 22.47 | 17.66 | 24.88 | 24.27 | 18.60 | 19.91 | 25.70 | 14.64 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
1.09 | 0.96 | 1.00 | 1.07 | 1.06 | 1.05 | 1.04 | 0.97 | 0.92 | 1.16 |
Cash ROIC |
38.01% | 40.36% | 27.46% | 28.78% | 23.69% | 28.21% | 26.57% | 28.15% | 15.82% | 24.52% |
Accounts Receivable Turnover |
6.38 | 6.33 | 5.47 | 4.91 | 4.40 | 3.89 | 3.65 | 3.46 | 3.10 | 3.11 |
Accounts Payable Turnover |
16.14 | 15.56 | 15.75 | 16.49 | 15.10 | 13.93 | 15.26 | 15.65 | 13.16 | 11.77 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
22.71 | 26.42 | 23.52 | 22.63 | 25.55 | 28.45 | 21.28 | 25.73 | 30.76 | 33.74 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
494.05 | 534.00 | 689.40 | 822.25 | 921.95 | 1,185.90 | 1,372.20 | 1,525.75 | 1,800.15 | 2,091.45 |
Average Payables |
56.95 | 65.45 | 74.80 | 77.65 | 84.20 | 97.35 | 95.20 | 94.50 | 117.05 | 142.30 |
Average Assets |
6,637.25 | 7,374.55 | 8,295.70 | 8,613.35 | 8,888.95 | 9,431.20 | 10,090.80 | 10,464.75 | 13,473.60 | 16,369.30 |
Average Common Equity |
1,933.50 | 2,156.05 | 2,488.15 | 2,700.45 | 2,864.70 | 3,016.60 | 3,289.20 | 3,647.10 | 3,964.50 | 3,931.55 |
Columns are period end dates · fundamentals updated 2 Oct 2026