Question 1

What is Paychex's P/S ratio?

Accepted Answer

Paychex (PAYX) P/S ratio is 6.1× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Paychex?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Paychex specifically, the relevant sector benchmark is the current sector median of 5.8×.

Question 5

Is Paychex's P/S ratio high or low?

Accepted Answer

Paychex's P/S ratio of 6.1× is below its own 5-year average of 8.6× and above the sector median of 5.8×. That places the current reading at the 9th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Paychex's historical P/S ratio range?

Accepted Answer

In the available daily series, Paychex (PAYX) P/S ratio has ranged from a low of 3.8× in 2009 to a high of 13.6× in 2002. The 5-year average is 8.6× and the 5-year median is 8.8×.

Question 7

What was Paychex's P/S ratio in 2026?

Accepted Answer

Paychex (PAYX) P/S ratio at the end of 2026 was 5.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Paychex's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$36.6B	$6.51B	5.6×	-4.6×	May 31, 2026
2025	$56.9B	$5.57B	10.2×	+2.0×	May 31, 2025
2024	$43.3B	$5.28B	8.2×	+0.6×	May 31, 2024
2023	$37.8B	$5.01B	7.6×	-2.1×	May 31, 2023
2022	$44.7B	$4.61B	9.7×	+0.7×	May 31, 2022
2021	$36.4B	$4.06B	9.0×	+2.6×	May 31, 2021
2020	$25.8B	$4.04B	6.4×	-1.8×	May 31, 2020
2019	$30.8B	$3.77B	8.2×	+1.2×	May 31, 2019
2018	$23.5B	$3.38B	7.0×	+0.2×	May 31, 2018
2017	$21.3B	$3.15B	6.8×	+0.1×	May 31, 2017
2016	$19.5B	$2.95B	6.6×	+0.1×	May 31, 2016
2015	$17.9B	$2.74B	6.5×	+0.5×	May 31, 2015
2014	$14.9B	$2.49B	6.0×	+0.1×	May 31, 2014
2013	$13.6B	$2.32B	5.9×	+0.9×	May 31, 2013
2012	$10.9B	$2.2B	4.9×	-0.7×	May 31, 2012
2011	$11.7B	$2.07B	5.6×	+0.4×	May 31, 2011
2010	$10.2B	$1.95B	5.2×	+0.1×	May 31, 2010
2009	$10.3B	$2.01B	5.1×	-0.9×	May 31, 2009
2008	$12.5B	$2.07B	6.0×	-2.1×	May 31, 2008
2007	$15.4B	$1.89B	8.1×	-0.2×	May 31, 2007
2006	$14B	$1.67B	8.3×	+0.8×	May 31, 2006
2005	$10.9B	$1.45B	7.6×	-3.6×	May 31, 2005
2004	$14.4B	$1.29B	11.1×	+0.1×	May 31, 2004
2003	$11.5B	$1.05B	11.0×	-2.6×	May 31, 2003
2002	$13B	$955M	13.6×	—	May 31, 2002


GoDaddy (GDDY)	2.2×
Fidelity National Information Services (FIS)	2.1×
Skyworks Solutions (SWKS)	2.1×
Qorvo (QRVO)	1.9×
Zebra Technologies (ZBRA)	1.8×
Gartner (IT)	1.7×
Accenture (ACN)	1.6×
Amkor Technology (AMKR)	1.6×
Block (XYZ)	1.5×
Fiserv (FISV)	1.4×
Cognizant (CTSH)	1.4×
EPAM Systems (EPAM)	1.3×
Optical Cable (OCC)	1.2×
Leidos Holdings (LDOS)	1.2×
Jabil (JBL)	1.1×
Dell Technologies (DELL)	1.0×
Sunrun (RUN)	1.0×
Hewlett Packard Enterprise (HPE)	1.0×
Flex (FLEX)	0.9×
Lyft (LYFT)	0.8×
CDW (CDW)	0.7×
Science Applications International (SAIC)	0.6×
Super Micro Computer (SMCI)	0.4×
HP (HPQ)	0.3×
IBM (IBM)	0.0×

P/S Ratio for Paychex (PAYX) 2002-2026

P/S Ratio daily chart for Paychex (PAYX)

Historical P/S Ratio for Paychex (PAYX) from 2002 to 2026

About P/S Ratio at Paychex (PAYX)

Paychex P/S Ratio by Year

Paychex P/S Ratio 2026: 5.6×

Paychex P/S Ratio 2025: 10.2×

Paychex P/S Ratio 2024: 8.2×

Paychex P/S Ratio 2023: 7.6×

Paychex P/S Ratio 2022: 9.7×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Paychex (PAYX) Key Financials