Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 740,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.

Financial Strength

8/10

Name	Current	Vs Industry
Cash-To-Debt	1.99
Equity-to-Asset	0.29
Debt-to-Equity	0.23
Debt-to-EBITDA	0.36
Interest Coverage	57.68
Piotroski F-Score	8/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	4.2	Distress Grey Safe
Beneish M-Score	-2.54	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

9/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	7.3
	3-Year EBITDA Growth Rate	10.2
	3-Year EPS without NRI Growth Rate	12.5
	3-Year FCF Growth Rate	5.7
	3-Year Book Growth Rate	7.7
	Future 3-5Y EPS without NRI Growth Rate	7.62
	Future 3-5Y Total Revenue Growth Rate	5.49

Momentum Rank

3/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	52.17
	9-Day RSI	50.25
	14-Day RSI	49.52
	6-1 Month Momentum %	7.12
	12-1 Month Momentum %	14.29

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	1.24
	Quick Ratio	1.24
	Cash Ratio	0.22
	Days Sales Outstanding	68.06
	Days Payable	24.21

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	3.02
	Dividend Payout Ratio	0.78
	3-Year Dividend Growth Rate	9.5
	Forward Dividend Yield %	3.24
	5-Year Yield-on-Cost %	4.54
	3-Year Average Share Buyback Ratio	-0.2
	Shareholder Yield %	2.98

Profitability Rank

9/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	71.73
	Operating Margin %	41.16
	Net Margin %	31.86
	FCF Margin %	36.84
	ROE %	46.78
	ROA %	14.21
	ROIC %	16.3
	ROC (Joel Greenblatt) %	477.59
	ROCE %	46.27
	Years of Profitability over Past 10-Year	10

GF Value Rank

7/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	26.43
	Forward PE Ratio	24.06
	PE Ratio without NRI	26.54
	Shiller PE Ratio	34.95
	Price-to-Owner-Earnings	26.49
	PEG Ratio	2.95
	PS Ratio	8.43
	PB Ratio	11.65
	Price-to-Tangible-Book	26.58
	Price-to-Free-Cash-Flow	22.88
	Price-to-Operating-Cash-Flow	21.06
	EV-to-EBIT	19.42
	EV-to-Forward-EBIT	18.28
	EV-to-EBITDA	18.01
	EV-to-Forward-EBITDA	16.11
	EV-to-Revenue	8.3
	EV-to-Forward-Revenue	7.64
	EV-to-FCF	22.29
	Price-to-Projected-FCF	2.19
	Price-to-DCF (Earnings Based)	1.65
	Price-to-DCF (FCF Based)	1.55
	Price-to-Median-PS-Value	1.12
	Price-to-Peter-Lynch-Fair-Value	2.73
	Price-to-Graham-Number	5.63
	Price-to-Net-Current-Asset-Value	72.36
	Earnings Yield (Greenblatt) %	5.15
	FCF Yield %	4.36
	Forward Rate of Return (Yacktman) %	13.14

GF Value: $132.93

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