Paychex, Inc. Financial Ratios — PCX.DE Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	57.8	56.82	54.24	61.12	72.61	82.81	90.06	91.56	77.21	77.11	76.1	89.2	84.18	79.67	73.7
Return on Assets (%)	9.7	9.23	9	10.01	10.51	11.73	12.45	13.48	12.47	12.75	12.35	14.77	15.43	16.15	12.3
Return on Capital (%)	57.8	56.83	54.25	61.19	72.66	82.89	90.23	91.83	60.06	49.5	48.07	57.98	58.21	57.53	33.46
Return on Invested Capital (%)	34.96	34.8	33.25	35.03	37.62	40.84	42.67	45.94	35.93	31.26	29.62	36.12	37.31	36.88	24.42
Gross Margin (%)	68.74	69.95	71.14	70.92	70.51	70.96	70.84	69.86	68.78	68.3	68.66	70.59	70.98	71.97	72.35
EBITDA Margin (%)	41.99	42.68	43.12	43.18	42.35	42.74	43.79	42.32	41.16	41.34	40.74	44.06	44.13	44.53	43.38
Operating Margin (%)	37.73	38.29	38.9	39.01	38.46	38.84	39.77	38.24	36.35	36.15	36.01	39.9	40.6	41.19	39.62
Incremental Operating Margin (%)	73.77	46.39	52.8	40.43	32.13	43.81	53.36	16.73	20.21	33.28	1.23	68.35	48.84	51.99	11.45
Pretax Margin (%)	38.01	38.58	39.18	39.23	38.69	39	39.93	38.49	36.26	35.57	35.35	39.56	40.91	42.02	39.05
Profit Margin (%)	24.72	24.58	24.46	24.91	24.63	25.64	26.21	29.43	27.42	27.18	27.05	30.2	31.1	32.03	29.74
Net Income to Common Margin (%)	24.72	24.58	24.46	24.91	24.63	25.64	26.21	29.43	27.42	27.18	27.05	30.2	31.1	32.03	29.74
Effective Tax Rate (%)	34.95	36.3	37.57	36.49	36.33	34.25	34.37	23.54	24.39	23.59	23.48	23.67	23.97	23.79	23.83
Dvd Payout Ratio (%)	87.09	84.03	83.78	81.37	81.76	80.14	80.15	74.41	79.93	80.99	82.8	71.77	75.45	77.81	87.4
Sustainable Growth Rate (%)	7.46	9.07	8.8	11.39	13.24	16.45	17.87	23.43	15.5	14.66	13.09	25.18	20.67	17.68	9.29

Credit (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	809	899	897	881	866	866	5,022
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	5	7	9	10	19	418
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	809	894	890	872	856	848	4,604
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	0.52	0.54	0.54	0.43	0.39	0.37	2.08
Net Debt/EBITDA	-0.14	-0.11	-0.11	-0.14	-0.15	-0.1	-0.13	-0.25	0.08	-0.06	-0.12	0.21	-0.19	-0.28	1.38
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	0.59	0.62	0.61	0.48	0.43	0.4	2.27
Net Debt/EBIT	-0.15	-0.13	-0.12	-0.16	-0.16	-0.11	-0.15	-0.28	0.09	-0.07	-0.13	0.24	-0.2	-0.3	1.51
EBITDA to Interest Expense	- -	9,517	10,030	988.82	1,657.43	1,147	552.32	366.54	88.23	43.05	46.16	55.51	60.21	63.02	22.93
EBITDA-CapEx/Interest Expense	- -	8,621	9,043	912.36	1,510.57	1,058.18	514.6	327.05	81.19	39.77	42.86	51.86	56.31	58.69	21.11
EBIT to Interest Expense	- -	8,539	9,048	893.36	1,505.14	1,042.36	501.56	331.15	77.91	37.64	40.8	50.27	55.4	58.29	20.95
Interest Expense	- -	- -	- -	1	1	1	2	4	18	39	36	37	37	37	105
Common Equity/Total Assets	17.11	15.52	17.72	15.09	13.88	14.44	13.25	16	16.29	16.78	15.71	17.37	19.22	21.35	13.77
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	30.9	32.13	30.18	28.28	24.49	22.3	111.53
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	36.42	38.29	37.91	34.16	29.58	27.49	63.04
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	9.33	10.45	9.64	9.06	8.11	8.16	27.79
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	30.9	32.31	30.43	28.56	24.78	22.79	121.66
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	36.42	38.51	38.23	34.5	29.93	28.1	68.77
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	9.33	10.51	9.72	9.15	8.21	8.34	30.32
Net Debt to Equity	-7.95	-6.78	-6.05	-8.58	-9.52	-6.88	-9.44	-15.2	4.69	-3.71	-6.46	14.14	-11.84	-17.14	80.87
Net Debt/Capital (%)	-14.8	-12.13	-10.89	-18.86	-23.35	-16.47	-25.61	-39.45	7.93	-7.23	-14.1	19.98	-24.76	-40.37	58.83
EBITDA	875	952	1,003	1,088	1,160	1,262	1,381	1,430	1,553	1,670	1,653	2,032	2,210	2,351	2,417
EBITDA-CapEx	775	862	904	1,004	1,057	1,164	1,286	1,276	1,429	1,543	1,534	1,898	2,067	2,189	2,225
Operating Income (Loss)	786	854	905	983	1,054	1,147	1,254	1,292	1,371	1,460	1,461	1,840	2,033	2,174	2,208

Liquidity (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.12	0.07	0.12	0.12	0.12	0.08	0.07	0.08	0.15	0.21	0.21	0.23	0.27	0.28	0.24
Current Ratio	1.12	1.07	1.13	1.13	1.11	1.11	1.12	1.11	1.17	1.23	1.25	1.25	1.3	1.37	1.28
Quick Ratio	0.17	0.1	0.16	0.17	0.16	0.18	0.18	0.18	0.32	0.39	0.42	0.48	0.52	0.59	0.52
CFO/Avg Current Liab	0.19	0.17	0.15	0.2	0.2	0.23	0.21	0.25	0.25	0.31	0.27	0.31	0.31	0.34	0.31
Common Equity/Total Assets	17.11	15.52	17.72	15.09	13.88	14.44	13.25	16	16.29	16.78	15.71	17.37	19.22	21.35	13.77
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	30.9	32.13	30.18	28.28	24.49	22.3	111.53
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	36.42	38.29	37.91	34.16	29.58	27.49	63.04
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	9.33	10.45	9.64	9.06	8.11	8.16	27.79
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	30.9	32.31	30.43	28.56	24.78	22.79	121.66
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	36.42	38.51	38.23	34.5	29.93	28.1	68.77
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	9.33	10.51	9.72	9.15	8.21	8.34	30.32
CFO/Total Liabilities	18.35	14.49	15.38	19.18	19.12	22.48	19.69	22.96	20.99	24.98	20.07	24.27	24.19	28.83	15.29
CFO/CapEx	7.12	7.89	6.84	10.47	8.71	10.42	10.18	8.29	10.27	11.35	10.64	11.88	11.93	11.76	9.91
Altman's Z-Score	2.52	2.06	2.67	2.78	3.11	3.52	3.62	3.58	4.35	4.27	4.93	5.77	5.02	6.04	4.55

Working Capital (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	11.99	14.69	16.87	17.81	16.81	10.09	6.88	7.66	9.49	10.04	8.43	7.08	6.27	5.46	4.66
Days Sales Outstanding	30.44	24.84	21.64	20.49	21.72	36.18	53.03	47.66	38.46	36.34	43.29	51.53	58.21	66.83	78.29
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	15.76	11.64	11.94	16.01	16.08	15.81	16.14	15.56	15.75	16.49	15.1	13.93	15.26	15.65	13.16
Accounts Payable Turnover Days	23.17	31.35	30.56	22.8	22.7	23.08	22.61	23.46	23.18	22.13	24.18	26.2	23.91	23.32	27.74
Cash Conversion Cycle	7.28	-6.51	-8.92	-2.31	-0.98	13.1	30.42	24.2	15.28	14.21	19.12	25.33	34.3	43.51	50.55
Inventory to Cash Days	30.44	24.84	21.64	20.49	21.72	36.18	53.03	47.66	38.46	36.34	43.29	51.53	58.21	66.83	78.29
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	7,547	7,336	9,706	10,961	13,530	15,207	17,175	19,712	26,421	22,931	33,417	41,995	36,099	42,664	56,490
- Cash & Cash Equivalents	119	109	107	152	170	132	185	358	674	905	995	370	1,222	1,469	1,629
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	809	899	897	881	866	866	5,022
Enterprise Value	7,083	7,019	9,201	10,409	12,993	14,855	16,851	19,288	26,518	22,897	33,282	41,652	35,369	42,027	59,849
Total Capital	923	1,006	1,092	961	898	930	905	1,266	2,222	2,334	2,347	2,554	2,892	3,083	7,303
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	36.42	38.51	38.23	34.5	29.93	28.1	68.77
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.03	0.04	0.03	0.02	0.02	0.02	0.08
EV/Sales	3.4	3.15	3.96	4.13	4.74	5.03	5.34	5.71	7.03	5.67	8.2	9.03	7.06	7.96	10.74
EV/EBITDA	8.09	7.38	9.17	9.57	11.2	11.77	12.2	13.49	17.08	13.71	20.14	20.5	16.01	17.88	24.76
EV/EBIT	9.01	8.22	10.17	10.59	12.33	12.96	13.44	14.93	19.34	15.68	22.79	22.64	17.4	19.33	27.11
EV/Cash Flow to Firm	9.9	9.93	13.62	11.81	14.51	14.58	17.52	15.08	20.64	15.57	25.85	25.75	20.4	21.82	30.21
EV/Free Cash Flow to Firm	8.68	8.82	11.89	10.78	13.01	13.3	15.95	13.46	18.83	14.33	23.67	23.78	18.84	20.13	27.54
Diluted Market Cap	7,560	7,348	9,730	11,009	13,593	15,283	17,308	19,849	26,613	23,091	33,621	42,286	36,289	42,877	56,772
Diluted Enterprise Value	7,441	7,239	9,623	10,856	13,423	15,152	17,124	19,491	26,749	23,085	33,523	42,797	35,933	42,274	60,166
EV per Share	19.58	19.37	25.29	28.56	35.8	41.18	46.84	53.73	73.83	63.87	92.48	115.51	98.14	116.64	166.15
TTM Sales	2,084	2,230	2,326	2,519	2,740	2,952	3,153	3,378	3,772	4,040	4,057	4,612	5,007	5,278	5,572
TTM EBITDA	875	952	1,003	1,088	1,160	1,262	1,381	1,430	1,553	1,670	1,653	2,032	2,210	2,351	2,417
TTM Operating Income	786	854	905	983	1,054	1,147	1,254	1,292	1,371	1,460	1,461	1,840	2,033	2,174	2,208
TTM Cash Flow to Firm	715	707	675	882	896	1,019	962	1,279	1,285	1,471	1,288	1,618	1,734	1,926	1,981
TTM Free Cash Flow to Firm	816	796	774	966	998	1,117	1,056	1,433	1,409	1,598	1,406	1,751	1,877	2,088	2,173

Multiples (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	9.27	9.23	12.57	11.41	13.62	13.7	16.41	13.88	19.07	14.73	24.39	24.53	19.62	20.82	27.13
EV/EBIT	9.01	8.22	10.17	10.59	12.33	12.96	13.44	14.93	19.34	15.68	22.79	22.64	17.4	19.33	27.11
Enterprise Value	7,083	7,019	9,201	10,409	12,993	14,855	16,851	19,288	26,518	22,897	33,282	41,652	35,369	42,027	59,849
Low Price	24.57	25.18	29.26	36.27	40.37	43.24	51.97	54.59	63.68	50.45	71.03	101.4	104.75	105.36	115.62
EV/Sales	3.4	3.15	3.96	4.13	4.74	5.03	5.34	5.71	7.03	5.67	8.2	9.03	7.06	7.96	10.74
EV/EBITDA	8.09	7.38	9.17	9.57	11.2	11.77	12.2	13.49	17.08	13.71	20.14	20.5	16.01	17.88	24.76
Price/Earnings	14.65	13.39	17.06	17.47	20.05	20.09	20.79	19.83	25.54	20.88	30.45	30.15	23.18	25.24	34.09
Price/Earnings Average	13.12	12.93	14.74	16.99	18.15	18.26	20.33	18.46	21.42	22.77	25.53	28.57	25.51	24.71	30.08
Price/Earnings High	23.96	21.6	24.74	26.68	28.27	26.68	27.75	44.95	30.56	29.74	33.99	36.89	32.39	27.83	34.63
Price/Earnings Low	17.25	16.65	18.71	21.07	21.71	20.61	22.63	19.72	22.11	16.47	23.29	26.25	24.24	22.46	25.13
Price/Book Value	8.18	7.29	8.89	11.4	15.07	16.36	18.97	15.57	18.7	15.98	23.05	25.1	17.81	19.25	24.77
Price/Book Value Average	7.33	7.05	7.68	11.1	13.64	14.86	18.56	14.49	15.68	17.43	19.33	23.78	19.6	18.84	21.86
Price/Book Value High	13.37	11.77	12.89	17.42	21.25	21.72	25.33	35.29	22.37	22.76	25.74	30.71	24.88	21.23	25.17
Price/Book Value Low	9.63	9.07	9.75	13.76	16.32	16.78	20.65	15.48	16.19	12.6	17.64	21.85	18.63	17.13	18.26
Price/Tangible Book Value	8.34	7.11	8.13	9.16	11.35	12.83	13.84	14.07	60.35	34.76	39.25	40.81	24.53	24.75	-24.21
Price/Tangible Book Value Average	7.47	6.87	7.02	8.92	10.28	11.66	13.54	13.1	50.61	37.91	32.9	38.66	26.99	24.23	-21.37
Price/Tangible Book Value High	13.64	11.48	11.78	14	16.01	17.04	18.48	31.88	72.2	49.5	43.82	49.93	34.27	27.29	-24.6
Price/Tangible Book Value Low	9.82	8.85	8.91	11.05	12.3	13.16	15.07	13.99	52.25	27.42	30.02	35.53	25.65	22.02	-17.85
Price/Sales	3.62	3.29	4.17	4.35	4.94	5.15	5.45	5.84	7	5.68	8.24	9.11	7.21	8.08	10.14
Price/Sales Average	3.24	3.18	3.61	4.23	4.47	4.68	5.33	5.43	5.87	6.19	6.91	8.63	7.93	7.91	8.95
Price/Sales High	5.92	5.31	6.05	6.65	6.96	6.84	7.27	13.23	8.38	8.08	9.2	11.14	10.07	8.91	10.3
Price/Sales Low	4.27	4.09	4.58	5.25	5.35	5.28	5.93	5.8	6.06	4.48	6.3	7.93	7.54	7.19	7.47
Price/Cash Flow	10.55	10.38	14.37	12.44	15.11	14.94	17.88	15.44	20.78	15.91	26.52	26.42	21.16	22.48	29.72
Price/Cash Flow Average	9.45	10.03	12.42	12.11	13.68	13.57	17.49	14.38	17.43	17.36	22.23	25.03	23.28	22.01	26.23
Price/Cash Flow High	17.26	16.75	20.85	19	21.31	19.83	23.88	35	24.86	22.67	29.6	32.32	29.56	24.79	30.19
Price/Cash Flow Low	12.43	12.91	15.76	15.01	16.37	15.32	19.47	15.36	17.99	12.55	20.28	23	22.13	20	21.91
Price/Free Cash Flow Average	8.3	8.92	10.87	11.1	12.33	12.45	16.05	12.92	15.99	16.06	20.44	23.25	21.6	20.39	23.94
Price/Free Cash Flow High	15.16	14.89	18.23	17.42	19.21	18.19	21.91	31.45	22.82	20.97	27.23	30.02	27.42	22.96	27.56
Price/Free Cash Flow Low	10.92	11.48	13.79	13.76	14.75	14.05	17.87	13.8	16.51	11.62	18.66	21.36	20.52	18.53	20
EV/Sales Average	3.19	3.13	3.56	4.17	4.41	4.64	5.27	5.33	5.91	6.19	6.88	8.74	7.86	7.8	9.56
EV/Sales High	5.87	5.26	6.01	6.59	6.9	6.8	7.21	13.12	8.41	8.08	9.17	11.25	10	8.8	10.91
EV/Sales Low	4.21	4.04	4.53	5.19	5.29	5.24	5.87	5.7	6.1	4.48	6.28	8.04	7.47	7.08	8.08
EV/EBITDA Average	7.59	7.33	8.26	9.66	10.41	10.85	12.03	12.59	14.36	14.97	16.89	19.83	17.82	17.51	22.03
EV/EBITDA High	13.97	12.32	13.93	15.25	16.3	15.9	16.47	31.01	20.44	19.55	22.52	25.54	22.66	19.76	25.15
EV/EBITDA Low	10.02	9.47	10.51	12.02	12.48	12.26	13.41	13.46	14.82	10.83	15.41	18.25	16.92	15.89	18.63
EV/EBIT Average	8.45	8.17	9.15	10.7	11.46	11.94	13.25	13.93	16.26	17.12	19.11	21.9	19.36	18.94	24.12
EV/EBIT High	15.55	13.73	15.44	16.88	17.95	17.5	18.14	34.32	23.15	22.36	25.47	28.2	24.63	21.36	27.54
EV/EBIT Low	11.15	10.56	11.65	13.3	13.74	13.49	14.77	14.9	16.78	12.38	17.43	20.15	18.39	17.18	20.4
Last Price	20.86	20.24	26.68	30.07	37.28	42.16	47.73	54.91	73.56	63.96	92.85	116.46	100.16	118.41	156.83
High Price	34.12	32.66	38.7	45.93	52.57	55.98	63.73	124.46	88	91.1	103.66	142.48	139.94	130.58	159.35
Enterprise Value Average	6,644	6,979	8,282	10,511	12,078	13,688	16,613	17,994	22,292	25,002	27,917	40,301	39,370	41,167	53,253
Enterprise Value High	12,226	11,726	13,971	16,588	18,908	20,061	22,746	44,322	31,745	32,652	37,211	51,890	50,077	46,447	60,791
Enterprise Value Low	8,771	9,016	10,538	13,069	14,482	15,466	18,514	19,241	23,009	18,082	25,465	37,075	37,395	37,357	45,040

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	362	363	365	363	361	360	359	359	359	359	360	360	360	360	360
Diluted Weighted Avg Shares	362	363	365	366	365	362	363	362	362	361	362	363	362	362	362
Basic Weighted Avg Shares	362	362	364	364	363	361	360	359	359	358	360	361	360	360	360
Revenue per Share	5.76	6.15	6.39	6.91	7.55	8.18	8.76	9.41	10.5	11.27	11.27	12.79	13.89	14.65	15.47
EBITDA per Share	2.42	2.63	2.76	2.98	3.2	3.5	3.84	3.98	4.32	4.66	4.59	5.63	6.13	6.52	6.71
Operating Income per Share	2.17	2.36	2.49	2.7	2.9	3.18	3.48	3.6	3.82	4.07	4.06	5.1	5.64	6.03	6.13
Basic EPS, GAAP	1.42	1.51	1.56	1.72	1.86	2.1	2.3	2.77	2.88	3.06	3.05	3.86	4.32	4.69	4.6
Basic EPS from Cont Ops	1.42	1.51	1.56	1.72	1.86	2.1	2.3	2.77	2.88	3.06	3.05	3.86	4.32	4.69	4.6
Diluted EPS, GAAP	1.42	1.51	1.56	1.71	1.85	2.09	2.28	2.75	2.86	3.04	3.03	3.84	4.3	4.67	4.58
Diluted EPS from Cont Ops	1.42	1.51	1.56	1.71	1.85	2.09	2.28	2.75	2.86	3.04	3.03	3.84	4.3	4.67	4.58
Dividend per Share	1.24	1.27	1.31	1.4	1.52	1.68	1.84	2.06	2.3	2.48	2.52	2.77	3.26	3.65	4.02
Cash Flow per Share	1.98	1.95	1.86	2.42	2.47	2.82	2.67	3.56	3.54	4.02	3.5	4.41	4.73	5.27	5.28
Free Cash Flow per Basic Share	1.7	1.7	1.58	2.19	2.18	2.55	2.41	3.13	3.2	3.66	3.17	4.04	4.34	4.82	4.74
Cash & Equivalents per Share	1.28	0.87	1.39	1.51	1.48	0.98	0.9	1.18	1.98	2.6	2.87	3.39	4.43	4.17	4.62
Book Value per Share	2.55	2.78	3	2.64	2.47	2.58	2.52	3.53	3.93	4	4.03	4.64	5.62	6.15	6.33
Tangible Book Value per Share	2.5	2.85	3.28	3.28	3.28	3.29	3.45	3.9	1.22	1.84	2.37	2.85	4.08	4.78	-6.48

Paychex, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)