PAYX NASDAQ
Paychex, Inc.
1W: +5.5%
1M: +14.1%
3M: -2.7%
YTD: +10.2%
1Y: -3.2%
3Y: +8.4%
5Y: +12.5%
$109.26
-6.44 (-5.57%)
After Hours: $109.88 (+0.62, +0.57%)
Weekly Expected Move ±4.0%
$109
$113
$118
$123
$127
Credit Risk of going bust: lower than 82% of companies Debt: 10.1% of company value Bonds: $169.4M held by 250 funds, 80 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.86 (down 99.3%), Paychex, Inc. would be worth roughly what it owes.
Total debt $4.62B against a stock market value of $41.19B.
Distance to default 10.17 (Merton model): prices to 2026-10-26, balance sheet 2026-08-31, debt counted $2.28B (short-term plus half of long-term), stock volatility 30.5%; Altman Z'' 2.56. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $0.86 (down 99.3%), Paychex, Inc. would be worth roughly what it owes.
Total debt $4.62B against a stock market value of $41.19B.
Distance to default 10.17 (Merton model): prices to 2026-10-26, balance sheet 2026-08-31, debt counted $2.28B (short-term plus half of long-term), stock volatility 30.5%; Altman Z'' 2.56. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$2.6B
+31.0% ▲
5Y CAGR: +15.2%
Capital Expenditures
$235M
-22.5% ▼
5Y CAGR: +15.4%
Free Cash Flow
$2.3B
+32.0% ▲
5Y CAGR: +15.2%
Dividends Paid
$1.6B
-9.7% ▼
Buybacks
$611M
-484.7% ▼
Net Change in Cash
-$1.2B
-249.2% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $1.4B | $1.6B | $1.7B | $1.7B | $1.8B |
| Depreciation & Amort. | $192M | $177M | $176M | $210M | $443M |
| Stock-Based Comp. | $53M | $63M | $61M | $112M | $96M |
| Change in Working Capital | -$368M | -$318M | -$280M | -$281M | -$124M |
| Other Non-Cash Items | $234M | $265M | $280M | $269M | $278M |
| Operating Cash Flow | $1.5B | $1.7B | $1.9B | $2.0B | $2.6B |
| — Investing Activities — | |||||
| Capital Expenditures | -$133M | -$143M | -$192M | -$192M | -$235M |
| Acquisitions (Net) | -$25M | -$3M | -$208M | -$3.3B | -$400K |
| Investment Purchases | -$17.8B | -$14.6B | -$6.9B | -$14.3B | -$12.2B |
| Investment Sales | $16.6B | $14.9B | $7.2B | $14.3B | $11.5B |
| Other Investing | -$11M | $6M | -$154M | -$187M | -$208M |
| Investing Cash Flow | -$1.4B | $218M | -$261M | -$3.7B | -$1.2B |
| — Financing Activities — | |||||
| Net Debt Issuance | $1M | $2M | $9M | $4.1B | -$419M |
| Stock Repurchased | -$145M | $0 | -$169M | -$104M | -$611M |
| Dividends Paid | -$1000M | -$1.2B | -$1.3B | -$1.4B | -$1.6B |
| Other Financing | $164M | $462M | -$399M | -$21M | $18M |
| Financing Cash Flow | -$979M | -$711M | -$1.9B | $2.6B | -$2.7B |
| Net Change in Cash | -$895M | $1.2B | -$238M | $837M | -$1.2B |
| Cash End of Period | $928M | $2.1B | $1.9B | $2.7B | $1.5B |
| Free Cash Flow | $1.4B | $1.6B | $1.7B | $1.8B | $2.3B |