Paychex, Inc., together with its subsidiaries, provides payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses in the United States and Germany. It offers payroll processing services, which include calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and management reports; preparation of federal, state, and local payroll tax returns; and collection and remittance of clients' payroll obligations.
The Company also provides payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. Its human resource outsourcing services include payroll, employer compliance, human resource and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained human resource representative.
Company Growth (employees)
Paychex was founded in 1971 and is headquartered in Rochester, US
Key People at Paychex
Martin Mucci
President and CEO
Mike Gioja
Senior Vice President, Information Technology and Product Development
Laurie Maffett
Vice President, Enterprise and Multi-Product Services
Efrain Rivera
Senior Vice President, Chief Financial Officer, and Treasurer
Mark Bottini
Senior Vice President, Sales
John Gibson
Senior Vice President, Service
Andrew Childs
Vice President, Marketing
Frank Fiorille
Vice President, Risk, Compliance and Data Analytics
Kevin Hill
Vice President, Insurance and Human Resource Services
Theodore Jordan
Vice President, Operations
Neil Rohrer
Vice President, Core Payroll Sales, Eastern U.S.
Stephanie Schaeffer
Vice President, Chief Legal Officer and Secretary
Terrence Sukalski
Vice President, Human Resource Services Sales
Jennifer Vossler
Vice President and Controller
Lisa Williams-Garcia
Vice President, Core Payroll Sales, Western U.S.
Bryan Hodge
Vice President of International Sales and Operations
Paychex Office Locations
Paychex has offices in Rochester, Lake Mary, Glenview, Newark and in 106 other locations
Rochester, US (HQ)
911 Panorama Trail S.
Brookfield, US
190 375 Bishops Way
Appleton, US
2 4650 W Spencer St
Madison, US
204 2801 Coho St
Houston, US
400 11777 Katy Fwy
Austin, US
310 3420 Executive Center Dr
Paychex Data and Metrics
Paychex Financial Metrics
Paychex's revenue was reported to be $795.8 m in Q3, 2017
USD
Revenue (Q3, 2017) | 795.8 m |
Gross profit (Q3, 2017) | 559 m |
Gross profit margin (Q3, 2017), % | 70% |
Net income (Q3, 2017) | 202.5 m |
EBIT (Q3, 2017) | 306.6 m |
Market capitalization (20-Jul-2017) | 20.6 b |
Closing share price (20-Jul-2017) | 56.9 |
Cash (30-Sep-2017) | 189.9 m |
Paychex's current market capitalization is $20.6 b.
- Source: SEC Filings
| USD | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|
Revenue | 2.5 b | 2.7 b | 3 b |
Revenue growth, % | 9% | 8% | |
Cost of goods sold | 732.5 m | 808 m | 857.1 m |
Gross profit | 1.8 b | 1.9 b | 2.1 b |
Gross profit Margin, % | 71% | 71% | 71% |
General and administrative expense | 803.7 m | 878 m | 948.2 m |
Operating expense total | 1.5 b | 1.7 b | 1.8 b |
EBIT | 982.7 m | 1.1 b | 1.1 b |
EBIT margin, % | 39% | 38% | 39% |
Pre tax profit | 988.1 m | 1.1 b | 1.2 b |
Income tax expense | 360.6 m | 385.1 m | 394.3 m |
Net Income | 627.5 m | 674.9 m | 756.8 m |
| USD | Q1, 2017 | Q2, 2017 | Q3, 2017 |
|---|---|---|---|
Revenue | 773.5 m | 771.4 m | 795.8 m |
Cost of goods sold | 225.1 m | 226.3 m | 236.8 m |
Gross profit | 548.4 m | 545.1 m | 559 m |
Gross profit Margin, % | 71% | 71% | 70% |
General and administrative expense | 237.4 m | 234 m | 252.4 m |
Operating expense total | 462.5 m | 460.3 m | 489.2 m |
EBIT | 323 m | 311.1 m | 306.6 m |
EBIT margin, % | 42% | 40% | 39% |
Pre tax profit | 324.5 m | 312 m | 307.8 m |
Income tax expense | 107.1 m | 109.9 m | 105.3 m |
Net Income | 217.4 m | 202.1 m | 202.5 m |
- Source: SEC Filings
| USD | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|
Cash | 152.5 m | 170 m | 131.5 m |
Accounts Receivable | 36.3 m | 37.9 m | 36.1 m |
Inventories | 46.7 m | 50.8 m | 58.8 m |
Current Assets | 5 b | 5.1 b | 4.9 b |
PP&E | 342.2 m | 353.9 m | 353 m |
Goodwill | 540.3 m | 561.5 m | 657.1 m |
Total Assets | 6.4 b | 6.5 b | 6.4 b |
Accounts Payable | 48.8 m | 51.7 m | 56.7 m |
Current Liabilities | 4.4 b | 4.6 b | 4.4 b |
Total Liabilities | 4.6 b | 4.7 b | 4.5 b |
Additional Paid-in Capital | 794.4 m | 880.1 m | 952.7 m |
Retained Earnings | 957.5 m | 894.3 m | 926.2 m |
Total Equity | 1.8 b | 1.8 b | 1.9 b |
EPS | 1.7 | 1.9 | 2.1 |
Financial Leverage | 3.6 x | 3.6 x | 3.4 x |
| USD | Q1, 2017 | Q2, 2017 | Q3, 2017 |
|---|---|---|---|
Cash | 130 m | 165 m | 189.9 m |
Accounts Receivable | 31.7 m | 35.8 m | 32 m |
Inventories | 62.7 m | 65.1 m | 68 m |
Current Assets | 4.5 b | 4.2 b | 5.8 b |
PP&E | 348.4 m | 349.3 m | 341.6 m |
Goodwill | 657.1 m | 657.1 m | 657.1 m |
Total Assets | 6.1 b | 5.8 b | 7.3 b |
Accounts Payable | 51.2 m | 48.6 m | 55.9 m |
Current Liabilities | 3.9 b | 3.8 b | 5.3 b |
Total Liabilities | 4.1 b | 4 b | 5.4 b |
Additional Paid-in Capital | 986.4 m | 993.9 m | 1 b |
Retained Earnings | 958.9 m | 834.9 m | 871.9 m |
Total Equity | 2 b | 1.8 b | 1.9 b |
EPS | 0.6 | 0.6 | 0.6 |
Financial Leverage | 3.1 x | 3.2 x | 3.9 x |
| USD | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|
Net Income | 627.5 m | 674.9 m | 756.8 m |
Depreciation and Amortization | 105 m | 106.6 m | 115.1 m |
Accounts Receivable | (18 m) | (28 m) | (38 m) |
Inventories | 22.5 m | (8.5 m) | (5 m) |
Accounts Payable | 45.1 m | 51.1 m | 63.3 m |
Cash From Operating Activities | 880.9 m | 895.2 m | 1 b |
Purchases of PP&E | (84.1 m) | (102.8 m) | (97.7 m) |
Cash From Investing Activities | (316.1 m) | (285 m) | (63.1 m) |
Dividends Paid | (510.6 m) | (551.8 m) | (606.5 m) |
Cash From Financing Activities | (519.6 m) | (592.7 m) | (993.6 m) |
| USD | Q1, 2017 | Q2, 2017 | Q3, 2017 |
|---|---|---|---|
Net Income | 217.4 m | 419.5 m | 622 m |
Depreciation and Amortization | 29.7 m | 59.7 m | 90.7 m |
Accounts Receivable | (78.1 m) | (123 m) | (24.6 m) |
Inventories | 6.6 m | (46.4 m) | (32.1 m) |
Accounts Payable | 60.9 m | 5.8 m | 37.5 m |
Cash From Operating Activities | 294.7 m | 413.4 m | 769.3 m |
Purchases of PP&E | (20.3 m) | (46.8 m) | (66.8 m) |
Cash From Investing Activities | 380.3 m | 697.9 m | (947.1 m) |
Dividends Paid | (166.3 m) | (331.5 m) | (496.9 m) |
Cash From Financing Activities | (676.5 m) | (1.1 b) | 236.2 m |
| Y, 2017 | |
|---|---|
P/E Ratio | 101.5 |
Financial Leverage | 3.9 x |
Paychex Operating Metrics
Paychex's Locations was reported to be 100 in May, 2017
- Source: Wikipedia, Company Filings, FY 2015
Paychex Market Value History
Paychex Revenue Breakdown
Paychex Median Salaries
Source: 47 public H-1B filings from Paychex
