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Paychex PAYX Debt-to-assets

Debt-to-assets at other companies

Automatic Data Processing, Inc. logo
Automatic Data Processing, Inc.ADP
0.1×0.0×
Equifax logo
EquifaxEFX
0.4×0.0×
ROP
Roper Technologies, Inc.ROP
0.3×+0.1×
Global Payments logo
Global PaymentsGPN
0.4×0.0×
Corpay logo
CorpayCPAY
0.4×-0.1×
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
0.1×0.0×

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×
Current ratio1.3×-0.1×

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 debt-to-assets?
Paychex (PAYX) reported debt-to-assets of 0.3× in Q4 2025.
How has Paychex's debt-to-assets changed year-over-year?
Paychex's debt-to-assets increased by 242.2% year-over-year, from 0.1× to 0.3×.
What is the long-term trend for Paychex's debt-to-assets?
Over 4 years (2021 to 2025), Paychex's debt-to-assets has grown at a 6.6% compound annual growth rate (CAGR), from 0.4× to 0.5×.
What does debt-to-assets mean?
What fraction of everything the company owns is funded by debt.
How do you interpret debt-to-assets?
A lower ratio indicates a more conservatively financed balance sheet. Rising debt-to-assets over time signals increasing financial risk.
How does debt-to-assets compare across companies?
Comparable within an industry; bounded between 0 and 1 for most non-financials, which makes cross-company reads cleaner than debt-to-equity.