Paychex Inc (PAYX) - Net Assets
Based on the latest financial reports, Paychex Inc (PAYX) has net assets worth $3.74 Billion USD as of May 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($16.17 Billion) and total liabilities ($12.44 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check PAYX PP&E to net assets ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $3.74 Billion |
| % of Total Assets | 23.09% |
| Annual Growth Rate | 14.17% |
| 5-Year Change | 21.07% |
| 10-Year Change | 91.02% |
| Growth Volatility | 14.76 |
Paychex Inc - Net Assets Trend (1986–2026)
This chart illustrates how Paychex Inc's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see PAYX market cap overview.
Annual Net Assets for Paychex Inc (1986–2026)
The table below shows the annual net assets of Paychex Inc from 1986 to 2026. Also explore net asset momentum of Paychex Inc to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2026-05-31 | $3.74 Billion | -9.52% |
| 2025-05-31 | $4.13 Billion | +8.60% |
| 2024-05-31 | $3.80 Billion | +8.81% |
| 2023-05-31 | $3.49 Billion | +13.22% |
| 2022-05-31 | $3.09 Billion | +4.65% |
| 2021-05-31 | $2.95 Billion | +5.99% |
| 2020-05-31 | $2.78 Billion | +6.18% |
| 2019-05-31 | $2.62 Billion | +37.50% |
| 2018-05-31 | $1.91 Billion | -2.57% |
| 2017-05-31 | $1.96 Billion | +2.28% |
| 2016-05-31 | $1.91 Billion | +7.07% |
| 2015-05-31 | $1.79 Billion | +0.48% |
| 2014-05-31 | $1.78 Billion | +0.19% |
| 2013-05-31 | $1.77 Billion | +10.55% |
| 2012-05-31 | $1.60 Billion | +7.24% |
| 2011-05-31 | $1.50 Billion | +6.72% |
| 2010-05-31 | $1.40 Billion | +4.51% |
| 2009-05-31 | $1.34 Billion | +12.10% |
| 2008-05-31 | $1.20 Billion | -38.70% |
| 2007-05-31 | $1.95 Billion | +17.97% |
| 2006-05-31 | $1.65 Billion | +19.43% |
| 2005-05-31 | $1.39 Billion | +15.48% |
| 2004-05-31 | $1.20 Billion | +11.38% |
| 2003-05-31 | $1.08 Billion | +16.60% |
| 2002-05-31 | $923.98 Million | +21.92% |
| 2001-05-31 | $757.84 Million | +34.50% |
| 2000-05-31 | $563.43 Million | +29.29% |
| 1999-05-31 | $435.80 Million | +32.22% |
| 1998-05-31 | $329.60 Million | +31.05% |
| 1997-05-31 | $251.50 Million | +31.81% |
| 1996-05-31 | $190.80 Million | +36.38% |
| 1995-05-31 | $139.90 Million | +28.94% |
| 1994-05-31 | $108.50 Million | +27.35% |
| 1993-05-31 | $85.20 Million | +26.41% |
| 1992-05-31 | $67.40 Million | +23.67% |
| 1991-05-31 | $54.50 Million | +15.47% |
| 1990-05-31 | $47.20 Million | +17.41% |
| 1989-05-31 | $40.20 Million | +27.62% |
| 1988-05-31 | $31.50 Million | +31.25% |
| 1987-05-31 | $24.00 Million | +29.03% |
| 1986-05-31 | $18.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Paychex Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 16467.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (May 2026)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.81 Billion | 48.35% |
| Common Stock | $3.60 Million | 0.10% |
| Other Comprehensive Income | $-49.90 Million | -1.34% |
| Other Components | $1.98 Billion | 52.89% |
| Total Equity | $3.74 Billion | 100.00% |
Paychex Inc Competitors by Market Cap
The table below lists competitors of Paychex Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Cameco Corp
TO:CCO
|
$40.89 Billion |
|
Orange S.A.
PA:ORA
|
$41.00 Billion |
|
LONZA GROUP UNSP.ADR 1/10
F:LO3A
|
$41.04 Billion |
|
Heineken
AS:HEIA
|
$41.05 Billion |
|
CBRE Group Inc Class A
NYSE:CBRE
|
$40.80 Billion |
|
DR Horton Inc
NYSE:DHI
|
$40.78 Billion |
|
Block, Inc
NYSE:XYZ
|
$40.64 Billion |
|
Flex Ltd
F:FXI
|
$40.46 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Paychex Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 4,128,000,000 to 3,735,100,000, a change of -392,900,000 (-9.5%).
- Net income of 1,760,100,000 contributed positively to equity growth.
- Dividend payments of 1,589,600,000 reduced retained earnings.
- Share repurchases of 611,000,000 reduced equity.
- Other comprehensive income increased equity by 3,800,000.
- Other factors increased equity by 43,800,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.76 Billion | +47.12% |
| Dividends Paid | $1.59 Billion | -42.56% |
| Share Repurchases | $611.00 Million | -16.36% |
| Other Comprehensive Income | $3.80 Million | +0.1% |
| Other Changes | $43.80 Million | +1.17% |
| Total Change | $- | -9.52% |
Book Value vs Market Value Analysis
This analysis compares Paychex Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 11.23x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 2045.26x to 11.23x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1986-05-31 | $0.06 | $116.51 | x |
| 1987-05-31 | $0.07 | $116.51 | x |
| 1988-05-31 | $0.10 | $116.51 | x |
| 1989-05-31 | $0.12 | $116.51 | x |
| 1990-05-31 | $0.14 | $116.51 | x |
| 1991-05-31 | $0.16 | $116.51 | x |
| 1992-05-31 | $0.20 | $116.51 | x |
| 1993-05-31 | $0.25 | $116.51 | x |
| 1994-05-31 | $0.32 | $116.51 | x |
| 1995-05-31 | $0.41 | $116.51 | x |
| 1996-05-31 | $0.55 | $116.51 | x |
| 1997-05-31 | $0.69 | $116.51 | x |
| 1998-05-31 | $0.90 | $116.51 | x |
| 1999-05-31 | $1.18 | $116.51 | x |
| 2000-05-31 | $1.50 | $116.51 | x |
| 2001-05-31 | $2.01 | $116.51 | x |
| 2002-05-31 | $2.44 | $116.51 | x |
| 2003-05-31 | $2.85 | $116.51 | x |
| 2004-05-31 | $3.17 | $116.51 | x |
| 2005-05-31 | $3.65 | $116.51 | x |
| 2006-05-31 | $4.34 | $116.51 | x |
| 2007-05-31 | $5.10 | $116.51 | x |
| 2008-05-31 | $3.24 | $116.51 | x |
| 2009-05-31 | $3.72 | $116.51 | x |
| 2010-05-31 | $3.88 | $116.51 | x |
| 2011-05-31 | $4.13 | $116.51 | x |
| 2012-05-31 | $4.42 | $116.51 | x |
| 2013-05-31 | $4.86 | $116.51 | x |
| 2014-05-31 | $4.85 | $116.51 | x |
| 2015-05-31 | $4.90 | $116.51 | x |
| 2016-05-31 | $5.27 | $116.51 | x |
| 2017-05-31 | $5.39 | $116.51 | x |
| 2018-05-31 | $5.60 | $116.51 | x |
| 2019-05-31 | $7.24 | $116.51 | x |
| 2020-05-31 | $7.70 | $116.51 | x |
| 2021-05-31 | $8.14 | $116.51 | x |
| 2022-05-31 | $8.50 | $116.51 | x |
| 2023-05-31 | $9.64 | $116.51 | x |
| 2024-05-31 | $10.50 | $116.51 | x |
| 2025-05-31 | $11.40 | $116.51 | x |
| 2026-05-31 | $10.38 | $116.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Paychex Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 47.12%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.03%
- • Asset Turnover: 0.40x
- • Equity Multiplier: 4.33x
- Recent ROE (47.12%) is above the historical average (32.54%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1986 | 22.58% | 8.28% | 1.91x | 1.42x | $2.34 Million |
| 1987 | 21.25% | 7.98% | 1.96x | 1.36x | $2.70 Million |
| 1988 | 21.90% | 8.69% | 1.87x | 1.35x | $3.75 Million |
| 1989 | 23.38% | 9.29% | 1.85x | 1.36x | $5.38 Million |
| 1990 | 18.22% | 7.15% | 1.94x | 1.32x | $3.88 Million |
| 1991 | 17.61% | 7.00% | 1.95x | 1.29x | $4.15 Million |
| 1992 | 20.33% | 8.49% | 1.87x | 1.28x | $6.96 Million |
| 1993 | 23.47% | 10.53% | 1.78x | 1.25x | $11.48 Million |
| 1994 | 25.90% | 12.54% | 1.73x | 1.20x | $17.25 Million |
| 1995 | 27.88% | 14.60% | 1.59x | 1.20x | $25.01 Million |
| 1996 | 27.41% | 16.08% | 1.48x | 1.15x | $33.22 Million |
| 1997 | 29.90% | 10.24% | 0.61x | 4.78x | $50.05 Million |
| 1998 | 31.01% | 10.29% | 0.64x | 4.70x | $69.24 Million |
| 1999 | 31.92% | 11.83% | 0.63x | 4.30x | $95.52 Million |
| 2000 | 33.72% | 26.10% | 0.30x | 4.36x | $133.66 Million |
| 2001 | 33.63% | 29.30% | 0.30x | 3.84x | $179.08 Million |
| 2002 | 29.71% | 28.75% | 0.32x | 3.20x | $182.13 Million |
| 2003 | 27.24% | 28.05% | 0.28x | 3.43x | $185.71 Million |
| 2004 | 25.25% | 23.41% | 0.33x | 3.29x | $182.95 Million |
| 2005 | 26.62% | 25.52% | 0.33x | 3.16x | $230.28 Million |
| 2006 | 28.09% | 27.76% | 0.30x | 3.35x | $299.43 Million |
| 2007 | 26.40% | 27.32% | 0.30x | 3.20x | $320.22 Million |
| 2008 | 48.15% | 27.88% | 0.39x | 4.44x | $456.48 Million |
| 2009 | 39.77% | 25.62% | 0.41x | 3.82x | $399.40 Million |
| 2010 | 34.02% | 23.84% | 0.38x | 3.73x | $336.80 Million |
| 2011 | 34.44% | 24.72% | 0.39x | 3.60x | $365.68 Million |
| 2012 | 34.15% | 24.58% | 0.34x | 4.04x | $387.55 Million |
| 2013 | 32.08% | 24.46% | 0.38x | 3.48x | $391.63 Million |
| 2014 | 35.31% | 24.91% | 0.40x | 3.58x | $449.80 Million |
| 2015 | 37.80% | 24.63% | 0.42x | 3.63x | $496.35 Million |
| 2016 | 39.59% | 25.64% | 0.46x | 3.37x | $565.63 Million |
| 2017 | 41.80% | 25.94% | 0.46x | 3.49x | $621.77 Million |
| 2018 | 46.12% | 27.62% | 0.45x | 3.69x | $731.25 Million |
| 2019 | 39.49% | 27.42% | 0.43x | 3.31x | $772.45 Million |
| 2020 | 39.48% | 27.18% | 0.47x | 3.07x | $819.96 Million |
| 2021 | 37.23% | 27.05% | 0.44x | 3.13x | $802.70 Million |
| 2022 | 45.14% | 30.20% | 0.48x | 3.12x | $1.08 Billion |
| 2023 | 44.58% | 31.10% | 0.47x | 3.02x | $1.21 Billion |
| 2024 | 44.47% | 32.03% | 0.51x | 2.73x | $1.31 Billion |
| 2025 | 40.15% | 29.74% | 0.34x | 4.01x | $1.24 Billion |
| 2026 | 47.12% | 27.03% | 0.40x | 4.33x | $1.39 Billion |
Industry Comparison
This section compares Paychex Inc's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $1,168,062,862
- Average return on equity (ROE) among peers: -229.84%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Paychex Inc (PAYX) | $3.74 Billion | 22.58% | 3.33x | $40.85 Billion |
| Adobe Systems Incorporated (ADBE) | $9.36 Billion | 27.67% | 1.00x | $100.44 Billion |
| ADEIA CORP (ADEA) | $21.51 Million | 30.40% | 0.12x | $2.75 Billion |
| Automatic Data Processing Inc (ADP) | $1.05 Billion | 21.63% | 0.49x | $107.69 Billion |
| Autodesk Inc (ADSK) | $965.50 Million | 125.12% | 6.54x | $46.35 Billion |
| AudioEye Inc (AEYE) | $10.59 Million | -98.53% | 1.31x | $71.03 Million |
| Agilysys Inc (AGYS) | $236.48 Million | 36.45% | 0.48x | $2.88 Billion |
| BlockchAIn Digital Infrastructure, Inc (AIB) | $7.86 Million | -10.63% | 1.20x | $43.69 Million |
| Firefly Neuroscience, Inc. (AIFF) | $109.00K | -2388.07% | 23.23x | $13.22 Million |
| PowerFleet, Inc. (AIOT) | $27.25 Million | -42.47% | 0.93x | $397.31 Million |
| XIAO-I Corporation American Depositary Shares (AIXI) | $-3.38 Million | 0.00% | 0.00x | $8.14 Million |
About Paychex Inc
Paychex, Inc., together with its subsidiaries, provides human capital management solutions (HCM) for human resources, payroll processing, employee benefits, and insurance services for small to medium-sized businesses in the United States, Europe, Canada, India, and Israel. It offers technology and advisory solutions; and payroll tax administration services. The company also provides retirement so… Read more