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PAYX · NasdaqGS

Paychex, Inc.

Software - Application · United States

USD 116.14-0.3% daily changeQuote 2026-09-18 · USD
Market cap (USD)
US$41.34B
Trailing P/E
23.75x
Forward P/E
18.16x
Quarterly revenue growth
12.5%
Trailing net margin
27.0%
Indicated dividend yield
4.1%

Snapshot 2026-09-20 · Latest financial period 2026-05-31 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2026-09-23 (provider estimate, not issuer-confirmed).

Company background

Paychex, Inc., together with its subsidiaries, provides human capital management solutions (HCM) for human resources, payroll processing, employee benefits, and insurance services for small to medium-sized businesses in the United States, Europe, Canada, India, and Israel. It offers technology and advisory solutions; and payroll tax administration services. The company also provides retirement solutions, such as plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services; HCM solutions from recruiting and hiring to retirement; and talent management and talent acquisition services. In addition, it offers payroll solutions, including calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and management reports; preparation of federal, state, and local payroll tax returns; and collection and remittance of clients' payroll obligations. Further, the company provides workforce management solutions; benefits administration solutions; digital marketplace for earned wages, financial wellness solutions, and voluntary lifestyle benefits; administrative services organization HR outsourcing solutions; solutions to payroll and non-payroll customers; retirement and funding solutions; and insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. Additionally, it offers payroll, HR, employee benefits administration, retirement, insurance, risk management outsourcing, and access to professionally trained HR representatives, virtually and on-site. It markets and sells its solutions primarily through its direct sales force. Paychex, Inc. was founded in 1971 and is headquartered in Rochester, New York.

Company website

Q4 FY2026

Go beyond the headline.

PAYX Stock: Paychex Beat And Grew 12% - So Why Did It Fall? Q4 FY2026

Published 2026-06-24

Comparable businesses

PAYX peer comparison

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Comparison stocks

No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.

Market metrics · missing or inapplicable values shown as —
MetricPAYXPaychex, Inc.Snapshot 2026-09-20Financial period: 2026-05-31
Market capMarket value, converted to USDUS$41.34B
Forward P/EProvider forward earnings estimate18.16x
EV / EBITDAEnterprise value / trailing EBITDA14.86x
Revenue growthLatest quarter vs prior-year quarter12.5%
Operating marginLatest reported quarter38.3%
Free cash flow yieldTrailing cash flow / market cap5.1%
Net debt / EBITDANet debt / trailing EBITDA1.16x
Debt / equityTotal debt / positive book equity1.24x
Trailing P/ETrailing twelve-month earnings23.75x
Price / bookPrice / positive book equity per share11.06x
EV / salesEnterprise value / trailing revenue6.88x
Earnings growthLatest quarter vs prior-year quarter43.4%
Gross marginTrailing twelve months74.3%
Net marginTrailing twelve months27.0%
Return on equityProvider trailing return; positive equity only44.8%
Free cash flow marginTrailing free cash flow / revenue32.2%
Dividend yieldIndicated annual dividend / price4.1%
Earnings payoutProvider trailing dividend payout90.6%
Current ratioCurrent assets / current liabilities1.26x
BetaProvider historical market sensitivity0.81

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

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Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-09-20. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for PAYX

All available reporting periods
Q4 FY20262026-06-24

Reported figures

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