| Company Name: | Paychex, Inc. | | Ticker Symbol: | PAYX | | | WWW Address: | www.paychex.com |
| CEO: | Mr. Martin Mucci | | No. of Employees: | 12,500 |
| Common Issue Type: | CS | | Business Description: | Paychex, Inc. is a provider of comprehensive payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses.
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| | | Industry Information: | DIVERSIFIED SERVICES - Staffing & Outsourcing Services [more like this] |
| | Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 38.52 |  0.58 | 38.51 | 39.28 | 38.23 | 38.54 | 38.18 | 2095045 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 14,017.4 | 363.9 | 0.85 | 1.51 | 1.27 | 24.5 | 3.4 | 38.66 - 29.12 |
| | KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 38.52 | $ | | PE Ratio - LTM | 24.5 | |
| Market Capitalisation | 14,017.4 | mil |
| Latest Shares Outstanding | 363.9 | mil |
| Earnings pS (EPS) | 1.51 | $ |
| Dividend pS (DPS) | 1.27 | ¢ |
| Dividend Yield | 3.4 | % |
| Dividend Payout Ratio | 84 | % |
| Revenue per Employee | 176,306 | $ |
| Effective Tax Rate | 36.3 | % |
| Float | 325.2 | mil |
| Float as % of Shares Outstanding | 89.4 | % |
| Foreign Sales | | mil |
| Domestic Sales | | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 32.50 | % |
| Research & Devlopment (R&D) as % of Revenue | 0.00 | % |
| Gross Profit Margin | 76.8 | % |
| EBITDA Margin | 44.3 | % |
| Pre-Tax Profit Margin | 39.8 | % |
| Assets Turnover | 0.3 | % |
| Return on Assets (ROA) | 5.6 | % |
| Return on Equity (ROE) | 26.2 | % |
| Return on Capital Invested (ROCI) | 26.2 | % |
| Current Ratio | 1.1 | |
| Leverage Ratio (Assets/Equity) | 4.7 | |
| Interest Cover | 0.0 | |
| Total Debt/Equity (Gearing Ratio) | 0.00 | |
| LT Debt/Total Capital | 0.0 | % |
| Working Capital pS | 1.55 | $ |
| Cash pS | 0.28 | $ |
| Book-Value pS | 4.41 | $ |
| Tangible Book-Value pS | 2.81 | $ |
| Cash Flow pS | 1.57 | $ |
| Free Cash Flow pS | 0.10 | $ |
 |
| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 8.73 | |
| Price/Tangible Book Ratio | 13.71 | |
| Price/Cash Flow | 24.5 | |
| Price/Free Cash Flow | 401.6 | |
| P/E as % of Industry Group | 68.0 | % |
| P/E as % of Sector Segment | 88.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 12/09/2012 |
| Dividend Ex-Date | 12/17/2012 |
| Dividend Record Date | 12/19/2012 |
| Dividend Pay Date | 12/27/2012 |
| Dividend Amount | 660 |
| Type of Payment | Cash Payment |
| Dividend Rate | 1.32 |
| Current Dividend Yield | 3.4 |
| 5-Y Average Dividend Yield | 4.1 |
| Payout Ratio | 84.0 |
| 5-Y Average Payout Ratio | 85.0 |
|  | | Share price performance previous 3 years |
|
 | | | Share price performance intraday |
|
 | | | | | PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | 2.1 | 100 | 19,975 | 118,737 |
| 4 Weeks | 38.66 | 35.10 | 35.40 | 8.8 | 102 | 20,257 | 405,135 |
| 13 Weeks | 38.66 | 32.73 | 33.97 | 13.4 | 103 | 24,651 | 1,552,998 |
| 26 Weeks | 38.66 | 30.55 | 31.74 | 21.4 | 99 | 26,956 | 3,342,597 |
| 52 Weeks | 38.66 | 29.12 | 29.41 | 31.0 | 102 | 25,756 | 6,413,224 |
| YTD | 38.66 | 31.47 | - | 23.9 | 106 | 25,943 | 2,464,543 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 38.17 | 37.74 | 35.78 | 33.73 | 33.60 | 0.85 | 0.90 |
| | | | GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 2.90 | 81.7 | 4.76 |
| Income | 0.11 | 0.1 | 5.54 |
| Dividend | 4.22 | 56.7 | 6.77 |
| Capital Spending | 7.79 | NA | 24.77 |
| R&D | 0.00 | NA | 0.00 |
| Normalized Inc. | 0.13 | NA | 5.54 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | 3.9 | 4.3 | 7.4 |
| Earnings % | 4.9 | 6.7 | 6.3 |
| EPS % | 4.3 | 8.1 | 6.3 |
| EPS $ | 0.05 | 0.03 | 0.09 |
| | | | SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 5.10 |
| Current Ratio | 1.1 |
| Quick Ratio (Acid Test) | 0.1 |
| Liquidity Ratio (Cash) | 1.02 |
| Receivables Turnover | 12.0 |
| Average Collection Period | 30 |
| Working Capital/Equity | 20.6 |
| Working Capital pS | 0.91 |
| Cash-Flow pS | 1.90 |
| Free Cash-Flow pS | 0.42 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 2.74 |
| Financial Leverage Ratio (Assets/Equity) | 4.0 |
| Debt Ratio | 75.2 |
| Total Debt/Equity (Gearing Ratio) | 0.00 |
| LT Debt/Equity | 0.00 |
| LT Debt/Capital Invested | 8.1 |
| LT Debt/Total Liabilities | 0.0 |
| Interest Cover | 0.0 |
| Interest/Capital Invested | 0.00 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 108.64 |
| Tobin's Q Ratio | 2.16 |
| Current P/E Ratio - LTM | 24.50 |
| Enterprise Value (EV)/EBITDA | 14.76 |
| Enterprise Value (EV)/Free Cash Flow | 75.66 |
| Dividend Yield | 3.4 |
| Price/Tangible Book Ratio - LTM | 13.71 |
| Price/Book Ratio - LTM | 8.73 |
| Price/Cash Flow Ratio | 24.5 |
| Price/Free Cash Flow Ratio - LTM | 401.6 |
| Price/Sales Ratio | 6.23 |
| P/E Ratio (1 month ago) - LTM | 22.7 |
| P/E Ratio (26 weeks ago) - LTM | 20.9 |
| P/E Ratio (52 weeks ago) - LTM | 19.7 |
| 5-Y High P/E Ratio | 30.2 |
| 5-Y Low P/E Ratio | 13.7 |
| 5-Y Average P/E Ratio | 21.0 |
| Current P/E Ratio as % of 5-Y Average P/E | 117 |
| P/E as % of Industry Group | 68.0 |
| P/E as % of Sector Segment | 88.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 24.5 |
| PER SHARE FIGURES |
| LT Debt pS | 0.00 |
| Current Liabilities pS | 13.09 |
| Tangible Book Value pS - LTM | 2.81 |
| Book Value pS - LTM | 4.41 |
| Capital Invested pS | 4.41 |
| Cash pS - LTM | 0.28 |
| Cash Flow pS - LTM | 1.57 |
| Free Cash Flow pS - LTM | 0.10 |
| Earnings pS (EPS) | 1.51 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 6.75 |
| Free Cash Flow Margin 5YEAR AVG | 6.00 |
| Net Profit Margin | 25.1 |
| Net Profit Margin - 5YEAR AVRG. | 26.2 |
| Equity Productivity | 1.39 |
| Return on Equity (ROE) | 34.2 |
| Return on Equity (ROE) - 5YEAR AVRG. | 37.6 |
| Capital Invested Productivity | 1.39 |
| Return on Capital Invested (ROCI) | 34.2 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 37.6 |
| Assets Productivity | 0.40 |
| Return on Assets (ROA) | 8.5 |
| Return on Assets (ROA) - 5YEAR AVRG. | 9.6 |
| Gross Profit Margin | 76.8 |
| Gross Profit Margin - 5YEAR AVRG. | 73.0 |
| EBITDA Margin - LTM | 44.3 |
| EBIT Margin - LTM | 39.8 |
| Pre-Tax Profit Margin | 39.4 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 40.0 |
| Effective Tax Rate | 36.3 |
| Effective Tax Rate - 5YEAR AVRG. | 34.5 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 28 |
| Revenue per Employee | 176,306 |
| Net Income per Employee | 44,194 |
| Average Collection Period | 28 |
| Receivables Turnover | 12.0 |
| Day's Inventory Turnover Ratio | |
| Inventory Turnover | 0.0 |
| Inventory/Sales | 0.0 |
| Accounts Payble/Sales | 3.13 |
| Assets/Revenue | 2.50 |
| Net Working Capital Turnover | 6.75 |
| Fixed Assets Turnover | 1.59 |
| Total Assets Turnover | 0.4 |
| Revenue per $ Cash | 20.09 |
| Revenue per $ Plant | 6.74 |
| Revenue per $ Common Equity | 1.36 |
| Revenue per $ Capital Invested | 1.36 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 31.8 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 31.0 |
| Research & Devlopment (R&D) as % of Revenue | 0.0 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 0.0 |
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