PAYCHEX INC

10-K & 10-Q Filings

Paychex, Inc. is a leading provider of human capital management (HCM) solutions for small- to medium-sized businesses and their employees in the US and parts of Europe. The company offers a comprehensive portfolio of HCM technology and HR advisory solutions, including HR outsourcing, HCM technology, payroll processing, retirement and insurance solutions. Paychex's business strategy includes providing industry-leading, integrated technology, delivering superior client experiences, expanding HR capabilities, growing the client base, and engaging in strategic acquisitions. The company's solutions bring together payroll and HCM software with HR and compliance expertise and flexible, personalized, and technology-enabled support capabilities. Paychex's website is www.paychex.com, and its ticker symbol is PAYX.

12 mos ending May 31, 201212 mos ending May 31, 201312 mos ending May 31, 201412 mos ending May 31, 201512 mos ending May 31, 201612 mos ending May 31, 201712 mos ending May 31, 201812 mos ending May 31, 201912 mos ending May 31, 202012 mos ending May 31, 202112 mos ending May 31, 202212 mos ending May 31, 20239 mos ending Feb 28, 20239 mos ending Feb 29, 2024CAGR %YoY %Revenue (+)
$2229.80
2326.20
2518.90
2739.60
2951.90
3151.30
3380.90
3772.50
4040.50
4056.80
4611.70
5007.10
3777.50
3983.20
7.63%5.45%Cost of Revenue (-)
$
0.00
-0.00
1280.80
1271.20
1356.30
1453.00
1083.20
1104.10
1.93%Gross Profit (+)
$
2759.70
2785.60
3255.40
3554.10
2694.30
2879.10
6.86%Selling, General & Administrative (-)
$695.10
750.10
803.70
878.00
948.20
992.10
1075.60
1223.40
1299.20
1324.90
1415.40
1521.00
1114.50
1186.80
7.38%6.49%Operating Expenses (-)
$1375.90
1421.40
1536.20
1686.00
1805.30
1911.70
2093.40
2401.20
1299.20
1324.90
1415.40
1521.00
1114.50
1186.80
0.92%6.49%Costs & Expenses (Total) (-)
$1375.90
1421.40
1536.20
1686.00
1805.30
1911.70
2093.40
2401.20
2580.00
2596.10
2771.70
2974.00
2197.70
2290.90
7.26%4.24%Operating Income/Loss (+)
$853.90
904.80
982.70
1053.60
1146.60
1239.60
1287.50
1371.30
1460.50
1460.70
1840.00
2033.10
1579.80
1692.30
8.21%7.12%Non-operating Income/Expense (+)
$6.40
6.60
Interest Expense (-)
$
-5.40
-6.40
-4.50
-5.20
-8.60
3.30
23.40
26.50
15.40
-15.10
-4.80
-33.90
-606.25%Earnings before Tax (+)
$860.30
911.40
988.10
1060.00
1151.10
1244.80
1296.10
1368.00
1437.10
1434.20
1824.60
2048.20
1584.60
1726.20
8.21%8.94%Tax Expense (-)
$312.30
342.40
360.60
385.10
394.30
427.50
362.40
333.60
339.00
336.70
431.80
490.90
377.70
415.70
4.20%10.06%Income/Loss (Continuing Operations) (+)
$548.00
569.00
627.50
674.90
756.80
817.30
933.70
1034.40
1098.10
1097.50
1392.80
1557.30
1206.90
1310.50
9.96%8.58%Net Income/Loss (+)
$548.00
569.00
627.50
674.90
756.80
817.30
933.70
1034.40
1098.10
1097.50
1392.80
1557.30
1206.90
1310.50
9.96%8.58%Net Income/Loss (Common) (+)
$548.00
569.00
627.50
674.90
756.80
817.30
933.70
1034.40
1098.10
1097.50
1392.80
1557.30
1206.90
1310.50
9.96%8.58%EPS (Basic)
$1.51
1.56
1.72
1.86
2.10
2.27
2.60
2.88
3.06
3.05
3.86
4.32
3.35
3.64
10.03%8.66%EPS (Diluted)
$1.51
1.56
1.71
1.85
2.09
2.25
2.58
2.86
3.04
3.03
3.84
4.30
3.33
3.62
9.98%8.71%Weighted Avg Shares (Basic)
362.40
363.80
364.50
362.90
360.70
359.80
359.00
359.20
358.50
359.90
360.60
360.40
360.30
360.40
-0.05%0.03%Weighted Avg Shares (Diluted)
363.00
364.70
366.10
364.60
362.50
362.60
361.50
361.80
361.00
362.10
363.10
362.30
362.30
362.20
-0.02%-0.03%Cash
$108.80
107.30
152.50
170.00
131.50
184.60
358.20
724.20
955.00
1046.50
420.30
1271.80
1373.50
1734.60
25.05%26.29%Short-term Investments
$207.50
398.20
398.70
366.60
220.60
138.80
66.00
39.00
27.20
36.70
853.90
Receivables
$142.40
133.40
149.40
176.60
408.60
507.50
531.40
826.80
764.10
1029.20
1295.90
1401.80
1387.60
1679.30
23.11%21.02%Prepaid Expenses (Current)
$40.80
86.50
63.90
63.70
69.30
103.30
92.80
256.50
261.60
282.70
306.30
337.90
329.20
333.60
21.19%1.34%Other Assets (Current)
$4576.40
4107.20
4246.90
4326.30
4033.60
4337.80
4736.00
3831.20
3456.70
3774.40
3705.20
4516.60
4504.90
6138.90
-0.12%36.27%Assets (Current)
$5075.90
4832.60
5011.40
5103.20
4863.60
5272.00
5784.40
5677.70
5464.60
6169.50
6581.60
7528.10
7595.20
9886.40
3.65%30.17%Securities & Long-term Investments
$473.70
369.10
385.60
399.80
441.10
454.00
295.50
6.50
21.30
37.00
30.50
Property, Plant & Equipment (Net)
$324.30
346.00
342.20
353.90
353.00
337.20
393.50
408.70
522.20
498.80
480.00
457.80
452.60
478.00
3.18%5.61%Goodwill & Intangibles
$573.20
579.10
580.90
593.90
726.60
714.70
955.40
2181.70
2121.70
2096.50
2056.10
2021.40
2029.80
2087.20
12.14%2.83%Other Assets
$32.50
36.90
50.00
31.70
56.50
55.80
34.90
401.40
420.90
425.40
487.00
539.10
526.00
572.30
29.09%8.80%Assets (Non-current)
$1403.70
1331.10
1358.70
1379.30
1577.20
1561.70
1679.30
2998.30
3086.10
3057.70
3053.60
3018.30
3008.40
3137.50
7.21%4.29%Assets (Total)
$6479.60
6163.70
6370.10
6482.50
6440.80
6833.70
7463.70
8676.00
8550.70
9227.20
9635.20
10546.40
10603.60
13023.90
4.53%22.83%Accounts Payable
$200.60
180.90
220.50
262.10
304.50
337.70
395.10
222.30
261.60
298.70
331.10
294.60
299.50
267.10
3.56%-10.82%Debt (Current)
$
5.10
7.40
8.70
10.20
10.20
18.80
84.31%Other Liabilities (Current)
$4545.10
4087.30
4218.40
4310.90
4061.40
4387.40
4892.10
4622.70
4160.20
4632.10
4929.40
5500.60
5648.40
7714.90
1.75%36.59%Liabilities (Current)
$4745.70
4268.20
4438.90
4573.00
4365.90
4725.10
5287.20
4845.00
4426.90
4938.20
5269.20
5805.40
5958.10
8000.80
1.85%34.28%Debt (Non-current)
$
796.40
893.70
797.30
797.70
798.20
798.10
798.50
0.05%Other Liabilities
$129.40
121.80
154.20
124.00
163.20
153.30
152.00
415.10
448.70
543.70
483.10
449.60
446.30
477.50
11.99%6.99%Liabilities (Non-current)
$129.40
121.80
154.20
124.00
163.20
153.30
152.00
1211.50
1342.40
1341.00
1280.80
1247.80
1244.40
1276.00
22.88%2.54%Liabilities (Total)
$4875.10
4390.00
4593.10
4697.00
4529.10
4878.40
5439.20
6056.50
5769.30
6279.20
6550.00
7053.20
7202.50
9276.80
3.41%28.80%Retained Earnings
$1002.10
1088.50
957.50
894.30
926.20
901.70
930.30
1409.50
1431.40
1445.90
1669.60
2023.10
1993.70
2186.20
6.60%9.66%AOCI
$37.70
22.00
21.50
7.50
29.20
20.00
-36.20
0.10
56.50
51.80
-133.90
-159.90
-204.20
-145.20
28.89%Shareholder's Equity
$1604.50
1773.70
1777.00
1785.50
1911.70
1955.30
2024.50
2619.50
2781.40
2948.00
3085.20
3493.20
3401.10
3747.10
7.33%10.17%Liabilities & Equity
$6479.60
6163.70
6370.10
6482.50
6440.80
6833.70
7463.70
8676.00
8550.70
9227.20
9635.20
10546.40
10603.60
13023.90
4.53%22.83%Net Income/Loss
$548.00
569.00
627.50
674.90
756.80
817.30
933.70
1034.40
1098.10
1097.50
1392.80
1557.30
1206.90
1310.50
9.96%8.58%Depreciation & Amortization
$140.30
154.40
175.30
182.80
190.80
199.40
203.40
230.50
250.50
227.80
220.70
194.80
148.40
126.20
3.03%-14.96%Increase/Decrease in Working Capital
$16.50
77.00
-54.80
-8.90
-26.50
113.90
-72.00
227.80
133.70
294.70
375.50
317.90
261.60
-26.80
30.86%-110.24%Share-based Compensation
$22.90
22.80
26.30
31.40
34.60
35.40
44.60
46.20
47.40
52.50
52.80
62.60
46.00
45.10
9.57%-1.96%Adjustments to Reconcile Net Income
$158.60
106.30
253.40
220.30
261.40
143.10
342.70
237.10
342.80
162.80
112.70
142.10
83.20
365.50
-0.99%339.30%Net Cash (Operating)
$706.60
675.30
880.90
895.20
1018.20
960.40
1276.40
1271.50
1440.90
1260.30
1505.50
1699.40
1290.10
1676.00
8.30%29.91%Capital Expenditure
$96.90
125.10
104.70
133.20
402.80
102.90
374.20
1121.30
142.90
142.80
168.10
139.40
96.20
354.20
3.36%268.19%Net Cash (Investing)
$-1244.30
181.70
-316.10
-285.00
-63.10
-424.60
-679.00
-1628.30
771.90
-460.60
-1420.90
218.50
362.40
-117.80
-132.51%Increase/Decrease in Debt
$
796.30
5.10
2.30
1.30
2.00
2.00
9.00
350.00%Increase/Decrease in Equity
$
-249.70
-182.40
-107.90
-166.20
-143.10
-56.90
-171.90
-155.70
-145.20
-169.20
Dividends Paid
$460.50
476.70
510.60
551.80
606.50
662.30
739.70
826.80
889.40
908.70
999.60
1175.00
854.10
962.50
8.89%12.69%Net Cash (Financing)
$527.50
-858.50
-519.60
-592.70
-993.60
-482.70
-423.80
-1008.50
-1488.20
-636.40
-979.30
-711.40
-218.50
839.80
484.35%Increase/Decrease in Cash
$-10.20
-1.50
45.20
17.50
-38.50
53.10
173.60
-1365.30
724.60
163.30
-894.70
1206.50
1434.00
2398.00
67.22%Cash (Beginning)
$119.00
108.80
107.30
152.50
170.00
131.50
184.60
2300.50
935.20
1659.80
1823.10
928.40
928.40
2134.90
20.53%129.95%Cash (Ending)
$108.80
107.30
152.50
170.00
131.50
184.60
358.20
935.20
1659.80
1823.10
928.40
2134.90
2362.40
4532.90
31.08%91.88%NOPAT
$543.92
564.88
624.07
670.83
753.84
813.89
927.50
1036.90
1115.98
1117.78
1404.56
1545.82
1203.24
1284.76
9.96%6.77%Gross Margin %
68.30%
68.66%
70.59%
70.98%
71.32%
72.28%
Operating Margin %
38.29%
38.90%
39.01%
38.46%
38.84%
39.34%
38.08%
36.35%
36.15%
36.01%
39.90%
40.60%
41.82%
42.49%
NOPAT Margin %
24.39%
24.28%
24.78%
24.49%
25.54%
25.83%
27.43%
27.49%
27.62%
27.55%
30.46%
30.87%
31.85%
32.25%
Net Margin %
24.58%
24.46%
24.91%
24.63%
25.64%
25.94%
27.62%
27.42%
27.18%
27.05%
30.20%
31.10%
31.95%
32.90%
Tax Rate %
36.30%
37.57%
36.49%
36.33%
34.25%
34.34%
27.96%
24.39%
23.59%
23.48%
23.67%
23.97%
23.84%
24.08%
ROA
8.39%
9.16%
9.80%
10.35%
11.70%
11.91%
12.43%
11.95%
13.05%
12.11%
14.58%
14.66%
11.35%
9.86%
ROE
33.90%
31.85%
35.12%
37.57%
39.43%
41.62%
45.81%
39.58%
40.12%
37.92%
45.53%
44.25%
35.38%
34.29%
ROIC
68.34%
64.43%
65.82%
79.68%
92.30%
82.80%
150.82%
Asset Turnover
0.34
0.38
0.40
0.42
0.46
0.46
0.45
0.43
0.47
0.44
0.48
0.47
0.36
0.31
Equity Multiplier
4.04
3.48
3.58
3.63
3.37
3.49
3.69
3.31
3.07
3.13
3.12
3.02
3.12
3.48
Current Ratio
1.07
1.13
1.13
1.12
1.11
1.12
1.09
1.17
1.23
1.25
1.25
1.30
1.27
1.24
Quick Ratio
0.10
0.15
0.16
0.16
0.17
0.18
0.18
0.33
0.39
0.43
0.49
0.46
0.46
0.43
Debt/Equity Ratio
0.30
0.32
0.27
0.26
0.23
0.24
0.22
Working Capital/Sales
-0.98
-0.82
-0.78
-0.73
-0.58
-0.55
-0.56
-0.28
-0.23
-0.22
-0.17
-0.16
-0.27
-0.43
Dividend Payout Ratio %
84.66%
84.39%
81.82%
82.26%
80.45%
81.38%
79.75%
79.74%
79.70%
81.30%
71.17%
76.01%
70.98%
74.92%
Total Payout
$460.50
476.70
760.30
734.20
714.40
828.50
882.80
87.40
1056.20
1062.10
1143.50
1173.00
852.10
1122.70
8.87%31.76%Payout Ratio %
84.66%
84.39%
121.83%
109.45%
94.77%
101.80%
95.18%
8.43%
94.64%
95.02%
81.41%
75.88%
70.82%
87.39%