Paychex Inc
Research Paychex Inc (PAYX) on Bullrun: valuation model: fairly valued, market cap USD 44.45B, P/E 25.6, dividend yield 3.6%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerPAYX
- ExchangeNASDAQ
- CountryUnited States
- SectorTechnology
- IndustrySoftware-Application
- CurrencyUSD
- Valuation signalfairly valued
- Market capUSD 44.45B
- P/E25.6
- Dividend yield3.6%
- Financial periodQ2 2026
- RevenueUSD 1.61B
- Net incomeUSD 420.60M
- Free cash flowUSD 515.00M
- Gross margin74.0%
Valuation Snapshot
Bullrun's latest valuation model marks Paychex Inc as fairly valued; latest market cap is USD 44.45B; P/E is 25.6; dividend yield is 3.6%.
Peer valuation comparison
Latest P/E is 25.56x versus a Technology sector median of 28.57x (10.6% below).
Latest dividend yield is 3.59% versus a Technology sector median of 1.65% (117.6% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 5.41B | USD 1.66B | USD 1.71B | 71.5% | 4.58 | USD 1.63B | USD 4.95B | USD 4.13B |
| FY2024 | USD 5.13B | USD 1.69B | USD 1.74B | 71.2% | 4.67 | USD 1.47B | USD 798.60M | USD 3.80B |
| FY2023 | USD 4.91B | USD 1.56B | USD 1.56B | 70.4% | 4.3 | USD 1.22B | USD 808.40M | USD 3.49B |
| FY2022 | USD 4.55B | USD 1.39B | USD 1.46B | 70.2% | 3.84 | USD 370.00M | USD 806.40M | USD 3.09B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 44.45B | 25.6 | 3.6% | 4.54 |
| 2025 | 2025-12-31 | USD 40.27B | 25.4 | 3.8% | 4.22 |
| 2024 | 2024-12-31 | USD 50.49B | 29.5 | 2.7% | 3.83 |
| 2023 | 2023-12-29 | USD 42.86B | 26.5 | 2.9% | 3.46 |
| 2022 | 2022-12-30 | USD 41.66B | 28.6 | 2.6% | 3.03 |
| 2021 | 2021-12-31 | USD 49.24B | 38.7 | 1.9% | 2.6 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 4.54 USD, yield 3.6%.
| Year | Dividends/share |
|---|---|
| FY2025 | 4.02 USD |
| FY2024 | 3.65 USD |
| FY2023 | 3.26 USD |
| FY2022 | 2.77 USD |
About Paychex Inc
Paychex, Inc., together with its subsidiaries, provides human capital management solutions (HCM) for human resources, payroll processing, employee benefits, and insurance services for small to medium-sized businesses in the United States, Europe, Canada, India, and Israel. It offers technology and advisory solutions; and payroll tax administration services.
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Frequently asked questions
Is Paychex Inc overvalued or undervalued?
Bullrun's valuation model currently marks Paychex Inc as fairly valued.
What is Paychex Inc's market cap?
Paychex Inc's market capitalization is USD 44.45B.
What is Paychex Inc's P/E ratio?
Paychex Inc's price-to-earnings (P/E) ratio is 25.6.
Does Paychex Inc pay a dividend?
Paychex Inc has a dividend yield of 3.6%.
What does Paychex Inc do?
Paychex, Inc., together with its subsidiaries, provides human capital management solutions (HCM) for human resources, payroll processing, employee benefits, and insurance services for small to medium-sized businesses in the United States, Europe, Canada, India, and Israel. It offers technology and advisory solutions; and payroll tax administration services.