Question 1

What is Paychex's P/S ratio?

Accepted Answer

Paychex (PAYX) P/S ratio is 5.7× as of June 5, 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 3.1×.

Question 5

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

Accepted Answer

Paychex's P/S ratio of 5.7× is below its own 5-year average of 8.8× and above the sector median of 3.1×. That places the current reading at the 6th 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 14.7× in 2002. The 5-year average is 8.8× and the 5-year median is 8.9×.

Question 7

What was Paychex's P/S ratio in 2025?

Accepted Answer

Paychex (PAYX) P/S ratio at the end of 2025 was 10.2×. 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.


2025	$56.89B	$5.57B	10.2×	+2.0×	May 31, 2025
2024	$43.26B	$5.28B	8.2×	+0.6×	May 31, 2024
2023	$37.83B	$5.01B	7.6×	-2.1×	May 31, 2023
2022	$44.68B	$4.61B	9.7×	+0.7×	May 31, 2022
2021	$36.38B	$4.06B	9.0×	+2.6×	May 31, 2021
2020	$25.81B	$4.04B	6.4×	-1.8×	May 31, 2020
2019	$30.83B	$3.77B	8.2×	+1.2×	May 31, 2019
2018	$23.54B	$3.38B	7.0×	+0.2×	May 31, 2018
2017	$21.28B	$3.15B	6.8×	+0.1×	May 31, 2017
2016	$19.54B	$2.95B	6.6×	+0.1×	May 31, 2016
2015	$17.90B	$2.74B	6.5×	+0.5×	May 31, 2015
2014	$14.94B	$2.49B	6.0×	+0.1×	May 31, 2014
2013	$13.57B	$2.32B	5.9×	+0.9×	May 31, 2013
2012	$10.87B	$2.20B	4.9×	-0.7×	May 31, 2012
2011	$11.69B	$2.07B	5.6×	+0.4×	May 31, 2011
2010	$10.20B	$1.95B	5.2×	+0.1×	May 31, 2010
2009	$10.27B	$2.01B	5.1×	-0.9×	May 31, 2009
2008	$12.46B	$2.07B	6.0×	-2.1×	May 31, 2008
2007	$15.37B	$1.89B	8.1×	-0.2×	May 31, 2007
2006	$13.95B	$1.67B	8.3×	+0.8×	May 31, 2006
2005	$10.93B	$1.45B	7.6×	-3.6×	May 31, 2005
2004	$14.39B	$1.29B	11.1×	+0.1×	May 31, 2004
2003	$11.49B	$1.05B	11.0×	-2.6×	May 31, 2003
2002	$13.01B	$954.91M	13.6×	—	May 31, 2002


Boeing (BA)	1.8×
General Dynamics (GD)	1.8×
Expeditors International (EXPD)	1.7×
Gartner (IT)	1.7×
J.B. Hunt Transport Services (JBHT)	1.7×
Pool (POOL)	1.4×
C.H. Robinson Worldwide (CHRW)	1.2×
Alamo Group (ALG)	1.2×
Huntington Ingalls Industries (HII)	1.2×
Jacobs Solutions (J)	1.1×
Textron (TXT)	1.0×
Tennant (TNC)	1.0×
United Parcel Service (UPS)	0.9×
FedEx (FDX)	0.8×
AGCO (AGCO)	0.8×
Versant Media Group, Inc. Class A (VSNT)	0.8×
Stanley Black & Decker (SWK)	0.7×
Matthews International (MATW)	0.7×
Delta Air Lines (DAL)	0.7×
Southwest Airlines (LUV)	0.6×
Builders FirstSource (BLDR)	0.6×
United Airlines Holdings (UAL)	0.5×
Amentum Holdings (AMTM)	0.5×
Alaska Air Group (ALK)	0.3×
ABM Industries (ABM)	0.3×

P/S Ratio for Paychex (PAYX)

P/S Ratio daily chart for Paychex (PAYX)

Historical P/S Ratio for Paychex (PAYX) from 2002 to 2025

About P/S Ratio at Paychex (PAYX)

Paychex P/S Ratio by Year

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×

Paychex P/S Ratio 2021: 9.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Paychex (PAYX) Key Financials

P/S Ratio daily chart for Paychex (PAYX)

Historical P/S Ratio for Paychex (PAYX) from 2002 to 2025

About P/S Ratio at Paychex (PAYX)

Paychex P/S Ratio by Year

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×

Paychex P/S Ratio 2021: 9.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is Paychex's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for Paychex?

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

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

+What was Paychex's P/S ratio in 2025?

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

Paychex (PAYX) Key Financials