Paychex, Inc. PAYX

101.37 (0.22) (0.22%) as of 25 Sep
Market cap
$36.0B
P/E
20.1×
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Paychex, Inc. (PAYX) Price to free cash flow

As of 25 September 2026, Paychex, Inc. (PAYX) trades at a price to free cash flow of 17.9×. Over the past ten years it has ranged from 13.4× (September 2015) to 39.4× (December 2021); the current reading is higher than 14% of that period. That is above the Software Application industry median of 16.6× and below the Technology sector median of 19.8×.

Price to free cash flow, daily

Annual

Period Price to free cash flow Change
FY2026 15.8× (52.30%)
FY2025 33.2× 33.12%
FY2024 24.9× 4.17%
FY2023 23.9× (21.89%)
FY2022 30.6× (3.40%)
FY2021 31.7× 61.60%
FY2020 19.6× (26.88%)
FY2019 26.9× 28.00%
FY2018 21.0× (14.75%)
FY2017 24.6× 15.81%

Quarterly

Period Price to free cash flow Change
Aug 2026 22.5× 41.88%
May 2026 15.8× (2.10%)
Feb 2026 16.2× (18.74%)
Nov 2025 19.9× (24.34%)
43 more quarters

Against its own ten years

Low 13.4× High 39.4×
Ten-year median 24.2×
Current reading's percentile 14

Price to free cash flow against peers

Company Price to free cash flow
MSTR Strategy Inc compare n/m
SSNC SS&C Technologies Holdings, Inc. compare 12.3×
ZM Zoom Communications, Inc. compare 13.6×
ROP Roper Technologies, Inc. compare 14.1×
ADSK Autodesk, Inc. compare 15.7×
WDAY Workday, Inc. compare 16.3×
PAYX Paychex, Inc. 17.9×
FICO Fair Isaac Corporation compare 20.4×
TEAM Atlassian Corporation PLC compare 37.2×
Software Application industry median 16.6×
Technology sector median 19.8×
Market median 14.0×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

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