Last 48 quarters of trend data · Industrials · Staffing & HR Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 23.11 | 26.31 | 20.72 | 15.10 | 25.38 | 32.89 | 48.14 | 26.52 | 32.08 | 27.80 | 28.61 | 22.21 | 28.23 | 26.34 | 27.04 | 21.40 | 31.32 | 29.37 | 37.75 | 25.01 | 32.75 |
| — | -20.0% | -57.0% | -43.0% | -20.9% | +18.3% | +68.3% | +19.4% | +13.6% | +5.5% | +5.8% | +3.8% | -9.9% | -10.3% | -28.4% | -14.5% | -4.4% | -5.6% | +9.0% | +6.6% | +5.5% | |
| P/S Ratio | 6.30 | 6.96 | 5.41 | 4.67 | 6.47 | 8.19 | 10.02 | 9.10 | 10.05 | 9.00 | 8.39 | 7.70 | 8.78 | 8.62 | 7.73 | 7.24 | 9.44 | 9.26 | 9.83 | 8.48 | 9.76 |
| — | -15.0% | -46.0% | -48.7% | -35.6% | -9.0% | +19.4% | +18.1% | +14.5% | +4.4% | +8.6% | +6.4% | -7.0% | -6.9% | -21.4% | -14.6% | -3.3% | -3.4% | +10.3% | +14.1% | +13.9% | |
| P/B Ratio | 11.28 | 12.25 | 9.30 | 8.41 | 10.39 | 12.71 | 13.86 | 13.34 | 13.48 | 12.33 | 11.44 | 11.84 | 12.53 | 12.36 | 10.88 | 11.76 | 14.02 | 14.25 | 14.58 | 13.17 | 13.87 |
| — | -3.6% | -32.9% | -36.9% | -22.9% | +3.1% | +21.2% | +12.7% | +7.6% | -0.2% | +5.1% | +0.6% | -10.6% | -13.2% | -25.4% | -10.7% | +1.1% | +4.4% | +17.2% | +18.6% | +18.9% | |
| P/FCF | 20.64 | 31.76 | 16.86 | 11.09 | 26.34 | 19.05 | 41.47 | 20.57 | 53.35 | 23.25 | 61.72 | 17.72 | 40.80 | 17.97 | 26.16 | 17.45 | 35.10 | 33.49 | 37.01 | 18.71 | 79.80 |
| — | +66.8% | -59.3% | -46.1% | -50.6% | -18.1% | -32.8% | +16.1% | +30.7% | +29.4% | +135.9% | +1.6% | +16.3% | -46.4% | -29.3% | -6.7% | -56.0% | +14.6% | +46.1% | -7.7% | +72.1% | |
| EV / EBITDA | 14.89 | 16.95 | 13.31 | 10.24 | 16.09 | 20.99 | 29.32 | 18.44 | 22.67 | 20.01 | 20.32 | 15.67 | 19.81 | 18.86 | 18.93 | 15.07 | 21.64 | 20.57 | 25.67 | 17.95 | 22.26 |
| — | -19.3% | -54.6% | -44.5% | -29.0% | +4.9% | +44.3% | +17.7% | +14.5% | +6.1% | +7.4% | +3.9% | -8.5% | -8.3% | -26.3% | -16.0% | -2.8% | -2.7% | +12.6% | +11.5% | +5.8% | |
| EV / EBIT | 17.97 | 19.96 | 15.53 | 11.46 | 18.61 | 24.17 | 33.45 | 19.13 | 23.76 | 20.68 | 21.38 | 16.26 | 20.74 | 19.50 | 19.90 | 15.79 | 23.08 | 22.15 | 28.59 | 19.48 | 24.36 |
| — | -17.4% | -53.6% | -40.1% | -21.7% | +16.8% | +56.4% | +17.6% | +14.6% | +6.1% | +7.4% | +3.0% | -10.1% | -11.9% | -30.4% | -19.0% | -5.2% | -2.9% | +10.9% | +10.8% | +3.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.3% | 73.6% | 74.0% | 76.2% | 73.5% | 73.1% | 72.4% | 74.3% | 71.2% | 71.2% | 71.0% | 73.6% | 71.1% | 72.0% | 69.9% | 73.0% | 69.8% | 70.9% | 68.5% | 72.4% | 70.1% |
| — | +0.7% | +2.2% | +2.5% | +3.3% | +2.7% | +1.9% | +1.0% | +0.2% | -1.1% | +1.6% | +0.8% | +1.8% | +1.5% | +2.0% | +0.8% | -0.4% | -0.3% | -1.1% | +2.8% | +3.9% | |
| Operating Margin | 38.6% | 38.0% | 37.7% | 43.8% | 36.7% | 35.2% | 30.2% | 45.8% | 40.9% | 41.5% | 37.2% | 45.1% | 40.2% | 41.7% | 36.9% | 44.3% | 39.7% | 41.1% | 34.4% | 44.1% | 39.7% |
| — | +7.9% | +24.7% | -4.5% | -10.1% | -15.1% | -18.8% | +1.5% | +1.5% | -0.6% | +0.9% | +1.9% | +1.4% | +1.5% | +7.1% | +0.5% | -0.1% | +0.5% | +0.2% | +4.6% | +10.3% | |
| Net Margin | 27.0% | 26.4% | 26.2% | 31.0% | 25.4% | 24.9% | 20.8% | 34.4% | 31.4% | 32.4% | 29.3% | 34.6% | 31.2% | 32.6% | 28.5% | 33.8% | 30.3% | 31.4% | 25.9% | 33.8% | 30.0% |
| — | +5.7% | +25.8% | -10.0% | -19.1% | -23.1% | -29.0% | -0.7% | +0.6% | -0.6% | +2.9% | +2.4% | +3.1% | +3.7% | +10.0% | +0.3% | +1.0% | +2.0% | +1.4% | +7.1% | +8.2% |
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 44.8% | 11.6% | 10.9% | 14.2% | 10.1% | 9.5% | 7.2% | 12.9% | 10.6% | 11.2% | 10.1% | 13.7% | 11.0% | 11.8% | 10.2% | 14.1% | 11.4% | 12.2% | 9.3% | 13.4% | 10.8% |
| — | +21.9% | +50.6% | +9.9% | -5.3% | -15.2% | -28.4% | -5.8% | -3.7% | -5.6% | -1.0% | -3.1% | -2.8% | -2.9% | +9.2% | +5.2% | +5.4% | +9.4% | +4.8% | +12.5% | +12.1% | |
| ROA | 10.8% | 2.7% | 2.5% | 3.3% | 2.4% | 2.3% | 2.1% | 4.8% | 3.9% | 4.1% | 3.2% | 4.0% | 3.2% | 3.7% | 3.3% | 4.7% | 3.9% | 4.0% | 3.0% | 4.3% | 3.5% |
| — | +16.9% | +16.7% | -31.0% | -39.3% | -43.6% | -34.1% | +19.9% | +21.3% | +11.1% | -2.0% | -15.7% | -17.6% | -8.8% | +11.3% | +9.4% | +12.7% | +12.7% | +6.9% | +12.5% | +8.7% | |
| ROIC | 25.5% | 6.2% | 6.3% | 8.1% | 5.5% | 5.2% | 5.9% | 14.8% | 11.8% | 12.7% | 11.8% | 16.4% | 13.0% | 13.5% | 11.2% | 15.5% | 12.2% | 11.6% | 7.9% | 11.6% | 10.6% |
| — | +20.0% | +6.1% | -45.1% | -53.3% | -59.3% | -49.9% | -9.6% | -9.4% | -6.1% | +5.8% | +6.0% | +6.8% | +17.0% | +41.6% | +33.3% | +14.6% | -1.0% | -11.9% | +1.9% | +18.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.24 | 1.25 | 1.24 | 1.25 | 1.30 | 1.26 | 1.22 | 0.21 | 0.22 | 0.23 | 0.23 | 0.23 | 0.25 | 0.24 | 0.25 | 0.26 | 0.27 | 0.28 | 0.29 | 0.27 | 0.29 |
| — | -1.4% | +1.9% | +495.4% | +490.6% | +461.7% | +433.8% | -9.5% | -10.5% | -6.8% | -8.0% | -9.5% | -10.0% | -13.7% | -13.2% | -5.0% | -4.7% | -4.9% | -6.1% | -10.6% | -7.7% | |
| Debt / EBITDA | 1.57 | 6.34 | 6.45 | 5.55 | 7.40 | 7.71 | 9.72 | 1.18 | 1.49 | 1.48 | 1.64 | 1.25 | 1.57 | 1.50 | 1.74 | 1.33 | 1.69 | 1.63 | 1.99 | 1.45 | 1.83 |
| — | -17.8% | -33.6% | +372.4% | +397.0% | +420.9% | +491.6% | -6.0% | -5.2% | -1.4% | -5.6% | -5.8% | -7.3% | -7.8% | -12.5% | -8.4% | -7.3% | -11.3% | -11.1% | -16.8% | -17.9% | |
| Current Ratio | 1.26 | 1.28 | 1.26 | 1.26 | 1.27 | 1.27 | 1.28 | 1.39 | 1.39 | 1.38 | 1.37 | 1.24 | 1.23 | 1.24 | 1.30 | 1.27 | 1.30 | 1.29 | 1.25 | 1.27 | 1.27 |
| — | +0.7% | -1.8% | -9.5% | -9.2% | -7.9% | -6.2% | +12.7% | +13.3% | +11.3% | +5.3% | -3.1% | -5.7% | -4.4% | +3.8% | +0.2% | +2.7% | +1.6% | -0.0% | +2.9% | -0.5% | |
| Quick Ratio | 1.26 | 1.28 | 1.26 | 1.26 | 1.27 | 1.27 | 1.28 | 1.39 | 1.39 | 1.38 | 1.37 | 1.24 | 1.23 | 1.24 | 1.30 | 1.27 | 1.30 | 1.29 | 1.25 | 1.27 | 1.27 |
| — | +0.7% | -1.8% | -9.5% | -9.2% | -7.9% | -6.2% | +12.7% | +13.3% | +11.3% | +5.3% | -3.1% | -5.7% | -4.4% | +3.8% | +0.2% | +2.7% | +1.6% | -0.0% | +2.9% | -0.5% | |
| Interest Coverage | 9.55 | 9.51 | 9.51 | 11.85 | 8.59 | 8.29 | 7.11 | 31.35 | 58.23 | 59.03 | 52.77 | 67.59 | 61.93 | 59.41 | 50.32 | 69.60 | 52.65 | 55.07 | 43.73 | 62.59 | 48.05 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying PAYX stock.
Paychex, Inc.'s current P/E is 23.1x. The average P/E over the last 4 quarters is 21.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Paychex, Inc.'s current operating margin is 38.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Paychex, Inc.'s business trajectory between earnings reports.