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Paychex PAYX Current ratio

Current ratio at other companies

Automatic Data Processing, Inc. logo
Automatic Data Processing, Inc.ADP
0.0×
Equifax logo
EquifaxEFX
0.6×-0.2×
ROP
Roper Technologies, Inc.ROP
0.5×+0.1×
Global Payments logo
Global PaymentsGPN
0.8×-0.2×
Corpay logo
CorpayCPAY
-0.1×
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
1.3×0.0×

Other financials

Income statement

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Revenue$1.8B+19.9%
Gross profit$1.4B+22.8%
Operating income$792.0M+14.5%
Net income$560.3M+7.9%
EPS (diluted)$1.56+9.1%

Balance sheet

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Cash & equivalents$1.7B+11.4%
Total debt$4.6B+434%
Total equity$4.0B-2.5%
Total assets$17.5B+56.1%

Cash flow

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Operating cash flow$812.5M+13.5%
CapEx$51.0M+4.7%
Free cash flow$761.5M+14.1%

Valuation

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Market cap$34.96B-38.4%
Enterprise value$37.83B-32.3%
P/E21.4×-11.3×
P/S5.5×-4.9×

Profitability

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Gross margin73.9%+1.9pp
Operating margin36.9%-4.6pp
Net margin25.8%-6.1pp

Returns & leverage

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Return on equity40.3%-4.0pp
Debt / equity1.1×+0.9×

Where this comes from

Calculated from Paychex’s reported figures.

Based on the most recent quarter.

The official record: Paychex’s 10-Q, filed March 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Paychex's current ratio?
Paychex (PAYX) reported current ratio of 1.3× in Q4 2025.
How has Paychex's current ratio changed year-over-year?
Paychex's current ratio decreased by 9.5% year-over-year, from 1.4× to 1.3×.
What is the long-term trend for Paychex's current ratio?
Over 4 years (2021 to 2025), Paychex's current ratio has grown at a 2.1% compound annual growth rate (CAGR), from 5× to 5.4×.
What does current ratio mean?
Whether the company has enough short-term assets to cover its short-term bills.
How do you interpret current ratio?
Above 1.0 means short-term assets cover short-term liabilities. Very high values can signal idle cash or bloated inventory/receivables rather than strength — there's a healthy middle, not 'more is better'.
How does current ratio compare across companies?
Comparable within an industry. Working-capital-light businesses can operate safely below 1.0 by collecting before they pay.