Company Valuation: Paychex, Inc.

Data adjusted to current consolidation scope
Fiscal Period: May 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 44,705 37,824 43,253 56,878 34,747 43,717 - -
Change - -15.39% 14.35% 31.5% -38.91% 25.81% - -
Enterprise Value (EV) 1 44,279 37,037 42,568 60,181 38,179 46,942 46,728 46,356
Change - -16.36% 14.93% 41.38% -36.56% 22.95% -0.46% -0.8%
P/E 32.2x 24.4x 25.7x 34.5x 19.8x 21.6x 19.9x 18.3x
PBR 14.4x 10.8x 11.4x 13.8x 9.23x 11.3x 10.1x 9.24x
PEG - 2x 2.99x -17.9x 2.93x 1.3x 2.4x 2.01x
Capitalization / Revenue 9.69x 7.55x 8.19x 10.2x 5.34x 6.36x 6.04x 5.74x
EV / Revenue 9.6x 7.4x 8.06x 10.8x 5.86x 6.83x 6.46x 6.09x
EV / EBITDA 21.6x 16.7x 17.8x 23.7x 12.6x 14.4x 13.5x 12.7x
EV / EBIT 24.1x 18.2x 19.2x 25.4x 13.6x 15.6x 14.6x 13.7x
EV / FCF 32.3x 23.5x 24.5x 34.2x 16.4x 19.8x 18.4x 16.8x
FCF Yield 3.1% 4.25% 4.08% 2.92% 6.08% 5.05% 5.44% 5.95%
Dividend per Share 2 2.77 3.26 3.65 4.02 4.43 4.854 5.24 5.582
Rate of return 2.24% 3.11% 3.04% 2.55% 4.57% 3.95% 4.26% 4.54%
EPS 2 3.84 4.3 4.67 4.58 4.89 5.694 6.166 6.728
Distribution rate 72.1% 75.8% 78.2% 87.8% 90.6% 85.3% 85% 83%
Net sales 1 4,612 5,007 5,278 5,572 6,512 6,878 7,238 7,610
EBITDA 1 2,050 2,212 2,389 2,540 3,022 3,264 3,465 3,662
EBIT 1 1,840 2,033 2,214 2,370 2,815 3,009 3,202 3,391
Net income 1 1,393 1,557 1,690 1,657 1,760 2,034 2,193 2,385
Net Debt 1 -426.2 -787 -685.5 3,304 3,432 3,225 3,011 2,639
Reference price 2 123.83 104.93 120.16 157.91 96.98 122.91 122.91 122.91
Nbr of stocks (in thousands) 361,017 360,467 359,963 360,191 358,291 355,683 - -
Announcement Date 6/29/22 6/29/23 6/26/24 6/25/25 6/24/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.59x6.83x14.38x3.95% 43.72B
21.65x0.72x8.19x1.66% 3.15B
18.14x1.46x9.67x5.5% 1.62B
19.83x4.97x11.78x3.77% 1.22B
28.8x2.47x16.42x1.33% 1.18B
14.01x0.93x8.11x4.17% 1.09B
17.75x0.65x8.53x5.13% 821M
27.24x - - 0.96% 805M
25.97x - - - 603M
Average 21.66x 2.58x 11.01x 3.31% 6.02B
Weighted average by Cap. 21.53x 5.94x 13.63x 3.78%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  3. PAYX Stock
  4. Valuation Paychex, Inc.