Paychex Ratios (2009-2025) | PAYX

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Ratios	Feb2009	May2009	Aug2009	Nov2009	Feb2010	May2010	Aug2010	Nov2010	Feb2011	May2011	Aug2011	Nov2011	Feb2012	May2012	Aug2012	Nov2012	Feb2013	May2013	Aug2013	Nov2013	Feb2014	May2014	Aug2014	Nov2014	Feb2015	May2015	Aug2015	Nov2015	Feb2016	May2016	Aug2016	Nov2016	Feb2017	May2017	Aug2017	Nov2017	Feb2018	May2018	Aug2018	Nov2018	Feb2019	May2019	Aug2019	Nov2019	Feb2020	May2020	Aug2020	Nov2020	Feb2021	May2021	Aug2021	Nov2021	Feb2022	May2022	Aug2022	Nov2022	Feb2023	May2023	Aug2023	Nov2023	Feb2024	May2024	Aug2024	Nov2024	Feb2025	May2025	Aug2025	Nov2025
Profitability
Gross Margin																																											67.20%	67.36%	70.22%	68.12%	67.06%	67.48%	70.46%	69.32%	71.14%	70.09%	72.40%	68.54%	70.90%	69.81%	73.00%	69.93%	71.99%	71.05%	73.61%	71.03%	71.18%	71.21%	74.33%	72.40%	73.13%	73.54%
EBT Margin	37.55%	35.32%	38.14%	39.11%	33.36%	35.25%	39.01%	40.12%	37.72%	35.24%	41.06%	40.21%	37.23%	35.85%	41.49%	40.73%	38.16%	36.43%	41.80%	40.54%	38.78%	35.95%	40.33%	40.16%	37.75%	36.64%	41.15%	40.95%	37.43%	36.62%	41.31%	40.45%	38.68%	37.63%	40.28%	37.96%	39.66%	36.02%	37.39%	36.01%	39.76%	31.67%	34.71%	34.02%	40.62%	31.87%	29.62%	35.54%	41.61%	33.61%	40.99%	39.48%	43.44%	33.98%	40.79%	39.92%	44.71%	37.70%	42.70%	41.17%	45.80%	37.97%	42.25%	41.29%	45.45%	27.28%	32.31%	33.40%
EBIT Margin	37.35%	35.15%	37.96%	38.88%	33.12%	34.99%	38.74%	39.82%	37.44%	34.97%	40.79%	39.93%	36.94%	35.52%	41.16%	40.39%	37.92%	36.19%	41.61%	40.33%	38.55%	35.73%	40.12%	39.95%	37.53%	36.35%	40.95%	40.73%	37.20%	36.65%	41.12%	40.33%	38.53%	37.43%	40.02%	37.75%	39.42%	35.72%	37.12%	35.77%	40.11%	32.08%	35.19%	34.49%	41.14%	32.74%	30.47%	36.02%	42.15%	34.38%	40.90%	39.72%	44.11%	34.43%	41.09%	39.68%	44.31%	36.87%	41.70%	40.24%	45.15%	37.20%	41.46%	40.86%	45.84%	30.20%	35.19%	36.72%
EBITDA Margin	37.35%	35.15%	37.96%	38.88%	33.12%	34.99%	38.74%	39.82%	37.44%	34.97%	40.79%	28.50%	25.39%	21.38%	26.41%	26.40%	23.18%	19.27%	22.17%	28.76%	26.29%	22.35%	26.36%	25.05%	23.97%	21.22%	29.79%	27.09%	26.26%	22.52%	28.95%	18.94%	28.14%	27.51%	27.09%	20.57%	37.36%	24.62%	28.28%	26.10%	32.95%	25.48%	29.29%	24.61%	33.96%	25.35%	25.17%	27.04%	30.10%	25.03%	30.19%	26.23%	29.77%	18.31%	28.33%	28.01%	33.42%	32.10%	30.79%	32.48%	36.17%	29.34%	37.33%	30.51%	34.57%	23.34%	26.79%	25.86%
Operating Margin	37.35%	35.15%	37.96%	38.88%	33.12%	34.99%	38.74%	39.82%	37.44%	34.97%	40.79%	39.93%	36.94%	35.52%	41.16%	40.39%	37.92%	36.19%	41.61%	40.33%	38.55%	35.73%	40.12%	39.95%	37.53%	36.35%	40.95%	40.73%	37.20%	36.65%	41.12%	40.33%	38.53%	37.43%	40.02%	37.75%	39.42%	35.72%	37.12%	35.77%	40.11%	32.08%	35.19%	34.49%	41.14%	32.74%	30.47%	36.02%	42.15%	34.38%	40.90%	39.72%	44.11%	34.43%	41.09%	39.68%	44.31%	36.87%	41.70%	40.24%	45.15%	37.20%	41.46%	40.86%	45.84%	30.20%	35.19%	36.72%
Net Margin	24.74%	22.94%	24.71%	25.35%	22.06%	23.28%	25.45%	26.15%	24.58%	22.75%	26.44%	25.73%	23.78%	22.36%	26.48%	25.97%	24.36%	21.10%	26.55%	25.75%	24.62%	22.83%	25.69%	25.58%	24.05%	23.29%	28.92%	26.19%	23.97%	23.62%	27.68%	26.20%	25.45%	24.46%	26.54%	24.76%	39.23%	25.74%	28.23%	27.45%	30.33%	23.50%	26.63%	26.11%	31.02%	24.12%	22.70%	27.69%	31.53%	25.55%	30.81%	29.96%	33.75%	25.90%	31.44%	30.27%	33.85%	28.50%	32.60%	31.22%	34.64%	29.33%	32.42%	31.39%	34.41%	20.82%	24.92%	25.39%
FCF Margin	41.78%	23.00%	35.29%	16.01%	40.49%	17.73%	34.29%	19.02%	37.42%	26.96%	29.66%	15.78%	43.37%	21.20%	33.85%	13.31%	43.94%	7.59%	39.41%	18.12%	44.54%	24.07%	35.72%	17.88%	37.16%	24.79%	35.56%	15.82%	46.48%	26.44%	34.93%	11.95%	42.21%	20.49%	41.06%	12.24%	47.32%	30.21%	28.89%	21.78%	46.56%	21.72%	27.06%	23.85%	39.91%	38.59%	20.84%	18.48%	36.66%	34.80%	32.80%	12.23%	45.31%	33.81%	27.67%	26.89%	38.96%	30.20%	50.88%	21.51%	43.84%	13.93%	38.72%	18.83%	44.22%	19.85%	43.02%	24.58%
Efficiency
Assets Average			4.92B	4.68B	5.22B	5.51B	5.13B	5.03B	5.49B	5.68B	5.19B	4.96B	5.51B	6.29B	6.10B	5.72B	6.62B	6.84B	6.10B	6.03B	6.54B	6.72B	6.33B	6.28B	6.81B	6.91B	6.23B	6.00B	6.54B	6.75B	6.27B	5.94B	6.54B	7.07B	7.23B	7.65B	7.26B	7.38B	7.48B	7.03B	8.68B	9.52B	8.66B	8.67B	9.08B	9.01B	8.46B	8.50B	9.14B	9.45B	9.30B	9.53B	9.99B	9.96B	9.38B	9.17B	9.91B	10.57B	11.37B	12.13B	12.54B	11.70B	10.44B	10.52B	10.89B	13.89B	16.61B	16.59B
Equity Average			1.35B	1.38B	1.39B	1.40B	1.42B	1.44B	1.46B	1.48B	1.52B	1.55B	1.58B	1.60B	1.63B	1.68B	1.65B	1.69B	1.76B	1.75B	1.77B	1.78B	1.78B	1.81B	1.85B	1.83B	1.79B	1.82B	1.87B	1.89B	1.95B	1.90B	1.86B	2.06B	2.09B	1.96B	2.18B	2.37B	2.37B	2.41B	2.51B	2.61B	2.57B	2.54B	2.66B	2.77B	2.78B	2.83B	2.93B	2.96B	3.00B	3.08B	3.20B	3.19B	3.11B	3.17B	3.30B	3.45B	3.54B	3.56B	3.64B	3.77B	3.83B	3.89B	4.02B	4.12B	4.05B	3.93B
Invested Capital		1.34B	1.36B	1.39B	1.40B	1.40B	1.44B	1.45B	1.47B	1.50B	1.54B	1.56B	1.60B	1.60B	1.66B	1.70B	1.61B	1.77B	1.75B	1.76B	1.79B	1.78B	1.79B	1.83B	1.87B	1.79B	1.79B	1.86B	1.87B	1.91B	2.04B	1.92B	1.95B	2.23B	2.00B	2.10B	2.45B	2.36B	2.44B	2.48B	2.65B	2.62B	2.58B	2.62B	2.81B	2.79B	2.78B	2.90B	2.98B	2.96B	3.05B	3.13B	3.29B	3.09B	3.15B	3.22B	3.41B	3.50B	3.60B	3.54B	3.77B	4.60B	3.87B	3.94B	4.13B	9.08B	8.92B	8.83B
Asset Utilization Ratio			0.42	0.43	0.38	0.36	0.39	0.40	0.37	0.37	0.41	0.44	0.40	0.35	0.37	0.40	0.35	0.34	0.39	0.40	0.38	0.37	0.41	0.42	0.39	0.40	0.45	0.47	0.44	0.44	0.48	0.52	0.47	0.45	0.44	0.42	0.46	0.46	0.46	0.50	0.42	0.40	0.45	0.47	0.45	0.45	0.47	0.47	0.43	0.43	0.45	0.45	0.45	0.46	0.50	0.53	0.50	0.47	0.45	0.43	0.42	0.45	0.51	0.51	0.50	0.40	0.35	0.36
Leverage & Solvency
Interest Coverage Ratio																											0.00B	980.67	0.00B	690.75	461.43	518.50	511.00	498.17	396.63	233.15	335.45	431.57	355.89	384.00	64.07	34.18	33.89	33.83	50.55	32.92	31.56	39.37	53.25	39.31	48.14	47.34	62.53	43.30	54.46	51.34	67.99	48.22	57.05	59.55	65.64	50.72	56.95	56.64	30.61	6.77	7.95	8.35
Debt to Equity																															0.03	0.06	0.03		0.03	0.07	0.02		0.02	0.02	0.33	0.30	0.34	0.33	0.31	0.29	0.29	0.28	0.27	0.27	0.26	0.26	0.25	0.26	0.26	0.25	0.24	0.23	0.23	0.23	0.22	0.22	0.21	0.21	0.20	1.20	1.25	1.28
Debt Ratio																															0.01	0.02	0.01		0.01	0.02	0.01		0.01	0.01	0.08	0.09	0.10	0.10	0.09	0.09	0.10	0.09	0.08	0.09	0.09	0.08	0.08	0.08	0.09	0.09	0.08	0.08	0.07	0.07	0.06	0.08	0.08	0.08	0.07	0.30	0.30	0.30
Equity Ratio		0.26	0.29	0.30	0.24	0.27	0.29	0.29	0.25	0.28	0.31	0.32	0.26	0.25	0.29	0.30	0.21	0.29	0.29	0.29	0.25	0.28	0.28	0.29	0.25	0.28	0.30	0.31	0.27	0.30	0.33	0.31	0.26	0.33	0.26	0.26	0.35	0.30	0.34	0.35	0.25	0.30	0.29	0.30	0.29	0.33	0.33	0.34	0.31	0.32	0.32	0.32	0.32	0.32	0.34	0.35	0.32	0.33	0.29	0.29	0.29	0.37	0.37	0.37	0.37	0.25	0.24	0.23
Times Interest Earned																											0.00B	980.67	0.00B	690.75	461.43	518.50	511.00	498.17	396.63	233.15	335.45	431.57	355.89	384.00	64.07	34.18	33.89	33.83	50.55	32.92	31.56	39.37	53.25	39.31	48.14	47.34	62.53	43.30	54.46	51.34	67.99	48.22	57.05	59.55	65.64	50.72	56.95	56.64	30.61	6.77	7.95	8.35
Dividends & Payouts
FCF Payout Ratio	0.51	0.98	0.64	1.41	0.55	1.28	0.63	1.15	0.56	0.80	0.67	1.35	0.47	0.99	0.59	1.58	0.92		0.53	1.14	0.44	0.83	0.58	1.14	0.53	0.80	0.59	1.33	0.43	0.76	0.61	1.79	0.49	1.01	0.55	1.83	0.41	0.79	0.81	1.08	0.40	1.05	0.83	0.94	0.49	0.63	1.15	1.23	0.55	0.66	0.67	1.76	0.41	0.74	0.85	0.89	0.53	0.87	0.49	1.18	0.51	1.96	0.69	1.42	0.53	1.37	0.59	1.01
Valuation
Enterprise Value	7.53B	9.37B	9.89B	11.04B	10.43B	9.95B	8.55B	9.86B	11.69B	11.22B	9.28B	10.14B	10.84B	10.55B	12.10B	11.48B	12.08B	13.04B	13.58B	15.51B	14.62B	14.40B	15.36B	16.67B	17.48B	17.41B	15.59B	19.08B	18.22B	19.17B	21.38B	21.86B	21.64B	20.95B	20.13B	23.83B	22.97B	23.14B	25.77B	24.65B	26.89B	30.11B	28.72B	30.17B	26.91B	24.97B	26.55B	33.18B	33.18B	35.40B	40.04B	42.29B	48.94B	44.28B	43.15B	43.55B	39.56B	36.56B	42.37B	42.65B	42.39B	41.74B	45.73B	51.38B	53.00B	49.94B	44.76B	38.66B
Market Capitalization	7.96B	9.86B	10.22B	11.33B	10.82B	10.31B	9.00B	10.32B	12.16B	11.69B	9.77B	10.55B	11.34B	10.87B	12.50B	11.78B	12.65B	13.55B	14.14B	15.97B	15.21B	14.95B	15.92B	17.20B	18.10B	17.95B	16.13B	19.56B	18.55B	19.53B	21.87B	22.15B	22.04B	21.28B	20.50B	24.16B	23.39B	23.56B	26.30B	25.41B	27.66B	30.83B	29.36B	30.83B	27.77B	25.93B	27.44B	34.04B	34.17B	36.45B	41.19B	42.98B	49.27B	44.70B	44.39B	44.70B	40.93B	37.83B	44.07B	44.06B	44.12B	43.25B	47.25B	52.64B	54.61B	51.62B	45.62B	40.20B
Return Ratios
Return on Sales		0.26%	0.25%	0.24%	0.24%	0.24%	0.24%	0.24%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.24%	0.25%	0.24%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.26%	0.26%	0.26%	0.25%	0.25%	0.26%	0.26%	0.26%	0.25%	0.29%	0.29%	0.30%	0.30%	0.28%	0.27%	0.27%	0.27%	0.27%	0.27%	0.26%	0.27%	0.27%	0.27%	0.28%	0.29%	0.30%	0.30%	0.30%	0.30%	0.31%	0.30%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.29%	0.28%	0.26%
Return on Capital Employed			0.47%	0.50%	0.80%	0.41%	0.46%	0.48%	0.71%	0.42%	0.44%	0.48%	0.74%	0.55%	0.40%	0.48%	1.03%	0.35%	0.47%	0.49%	0.69%	0.43%	0.50%	0.51%	0.71%	0.45%	0.50%	0.56%	0.75%	0.48%	0.50%	0.55%	0.96%	0.53%	0.70%	0.57%	0.49%	0.62%	0.42%	0.48%	0.64%	0.29%	0.37%	0.37%	0.40%	0.32%	0.33%	0.34%	0.37%	0.32%	0.37%	0.40%	0.42%	0.39%	0.40%	0.44%	0.50%	0.43%	0.51%	0.43%	0.47%	0.34%	0.43%	0.43%	0.44%	0.32%	0.23%	0.23%
Return on Invested Capital			0.37%	0.36%	0.34%	0.34%	0.34%	0.34%	0.35%	0.35%	0.35%	0.35%	0.34%	0.34%	0.34%	0.33%	0.34%	0.33%	0.33%	0.33%	0.34%	0.35%	0.36%	0.36%	0.35%	0.37%	0.40%	0.40%	0.39%	0.40%	0.39%	0.39%	0.41%	0.39%	0.38%	0.39%	0.42%	0.41%	0.43%	0.43%	0.40%	0.39%	0.41%	0.42%	0.41%	0.40%	0.38%	0.38%	0.37%	0.37%	0.40%	0.41%	0.42%	0.44%	0.47%	0.46%	0.45%	0.43%	0.43%	0.44%	0.43%	0.39%	0.39%	0.43%	0.42%	0.25%	0.18%	0.19%
Return on Assets			0.10%	0.11%	0.09%	0.09%	0.09%	0.10%	0.09%	0.09%	0.10%	0.11%	0.10%	0.09%	0.09%	0.10%	0.09%	0.08%	0.09%	0.10%	0.09%	0.09%	0.10%	0.10%	0.10%	0.10%	0.11%	0.12%	0.11%	0.11%	0.12%	0.13%	0.12%	0.12%	0.11%	0.11%	0.13%	0.13%	0.14%	0.15%	0.12%	0.11%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.11%	0.13%	0.13%	0.13%	0.14%	0.15%	0.16%	0.15%	0.14%	0.14%	0.13%	0.13%	0.14%	0.16%	0.16%	0.16%	0.12%	0.10%	0.10%
Return on Equity			0.38%	0.36%	0.34%	0.34%	0.34%	0.34%	0.35%	0.35%	0.35%	0.35%	0.34%	0.34%	0.34%	0.33%	0.34%	0.34%	0.33%	0.34%	0.34%	0.35%	0.36%	0.36%	0.36%	0.37%	0.40%	0.40%	0.40%	0.40%	0.39%	0.41%	0.43%	0.40%	0.39%	0.41%	0.45%	0.42%	0.43%	0.44%	0.41%	0.40%	0.41%	0.42%	0.42%	0.40%	0.38%	0.37%	0.36%	0.36%	0.40%	0.41%	0.42%	0.44%	0.46%	0.46%	0.46%	0.44%	0.44%	0.45%	0.44%	0.44%	0.44%	0.43%	0.43%	0.40%	0.39%	0.40%

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Paychex Ratios (2009-2025) | PAYX

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