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Paychex PAYX Ratios & Valuation

Q4 '26Q3 '26Q2 '26Q1 '26Q4 '25
Profitability
Gross margin74.3%+1.9pp73.9%+1.9pp73.4%+1.6pp72.8%+1.1pp72.4%+0.4pp
Operating margin38.6%-1.1pp36.9%-4.6pp37.1%-4.2pp38%-3.1pp39.6%-1.6pp
Net margin27%-2.7pp25.8%-6.1pp26.4%-5.6pp27.9%-4.1pp29.7%-2.3pp
Returns
Return on equity44.8%+3.0pp40.3%-4.0pp40.9%-5.3pp41.3%-4.4pp41.8%-4.5pp
Return on invested capital26.5%-5.9pp34.6%-19.8pp32.1%-19.1pp30.4%-24.5pp32.5%-19.5pp
Efficiency
Asset turnover0.4×0.0×0.4×0.0×0.4×0.0×0.4×0.0×0.4×-0.1×
Liquidity
Current ratio1.3×0.0×1.3×-0.1×1.3×-0.1×1.3×-0.1×1.3×-0.1×
Leverage
Debt-to-equity1.2×+0.1×1.1×+0.9×1.2×+1.0×1.2×+0.9×1.1×+0.9×
Net debt / EBITDA1.2×0.0×+1.3×1.2×+1.4×1.5×+1.8×1.2×+1.5×
Per Share
Book value per share$10.38-9.0%$11.16-1.8%$10.77-0.8%$10.97+3.1%$11.40+8.6%
Valuation
Market capitalization$41.56B-17.3%$33.62B-38.4%$40.2B-23.7%$50.24B+6.4%$57.26B+32.4%
Price / earnings23.6×-6.7×20.5×-10.8×25.2×-5.4×31.1×+3.3×34.5×+9.0×
Price / sales6.4×-2.6×5.3×-4.7×6.7×-3.1×8.7×-0.2×10.3×+2.1×
Price / book11.1×-1.0×8.4×-4.9×10.4×-3.1×12.7×+0.4×13.9×+2.5×
EV / EBITDA15.3×-6.8×13.3×-8.9×16.8×-5.1×21.8×+2.0×24.9×+6.8×
Dividend yield3.8%+0.9pp4.6%+2.0pp3.8%+1.2pp3%+0.1pp2.5%-0.5pp

FAQ

What are Paychex's profit margins?
Paychex (PAYX) runs a 74.3% gross margin and a 38.6% operating margin, with a 27.0% net margin.
Where do Paychex's ratios come from?
Every ratio is computed from Paychex's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.