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)
Type
Public
HQ
Rochester, US
Founded
1971
Size (employees)
13,900 (est)+3%
Paychex was founded in 1971 and is headquartered in Rochester, US

Key People at Paychex

Martin Mucci

Martin Mucci

President and CEO
Mike Gioja

Mike Gioja

Senior Vice President, Information Technology and Product Development
Laurie Maffett

Laurie Maffett

Vice President, Enterprise and Multi-Product Services
Efrain Rivera

Efrain Rivera

Senior Vice President, Chief Financial Officer, and Treasurer
Mark Bottini

Mark Bottini

Senior Vice President, Sales
John Gibson

John Gibson

Senior Vice President, Service
Andrew Childs

Andrew Childs

Vice President, Marketing
Frank Fiorille

Frank Fiorille

Vice President, Risk, Compliance and Data Analytics
Kevin Hill

Kevin Hill

Vice President, Insurance and Human Resource Services
Theodore Jordan

Theodore Jordan

Vice President, Operations
Neil Rohrer

Neil Rohrer

Vice President, Core Payroll Sales, Eastern U.S.
Stephanie Schaeffer

Stephanie Schaeffer

Vice President, Chief Legal Officer and Secretary
Terrence Sukalski

Terrence Sukalski

Vice President, Human Resource Services Sales
Jennifer Vossler

Jennifer Vossler

Vice President and Controller
Lisa Williams-Garcia

Lisa Williams-Garcia

Vice President, Core Payroll Sales, Western U.S.
Bryan Hodge

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
Show all (130)

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.
USDFY, 2014FY, 2015FY, 2016

Revenue

2.5 b2.7 b3 b

Revenue growth, %

9%8%

Cost of goods sold

732.5 m808 m857.1 m

Gross profit

1.8 b1.9 b2.1 b

Gross profit Margin, %

71%71%71%

General and administrative expense

803.7 m878 m948.2 m

Operating expense total

1.5 b1.7 b1.8 b

EBIT

982.7 m1.1 b1.1 b

EBIT margin, %

39%38%39%

Pre tax profit

988.1 m1.1 b1.2 b

Income tax expense

360.6 m385.1 m394.3 m

Net Income

627.5 m674.9 m756.8 m
USDQ1, 2017Q2, 2017Q3, 2017

Revenue

773.5 m771.4 m795.8 m

Cost of goods sold

225.1 m226.3 m236.8 m

Gross profit

548.4 m545.1 m559 m

Gross profit Margin, %

71%71%70%

General and administrative expense

237.4 m234 m252.4 m

Operating expense total

462.5 m460.3 m489.2 m

EBIT

323 m311.1 m306.6 m

EBIT margin, %

42%40%39%

Pre tax profit

324.5 m312 m307.8 m

Income tax expense

107.1 m109.9 m105.3 m

Net Income

217.4 m202.1 m202.5 m
USDFY, 2014FY, 2015FY, 2016

Cash

152.5 m170 m131.5 m

Accounts Receivable

36.3 m37.9 m36.1 m

Inventories

46.7 m50.8 m58.8 m

Current Assets

5 b5.1 b4.9 b

PP&E

342.2 m353.9 m353 m

Goodwill

540.3 m561.5 m657.1 m

Total Assets

6.4 b6.5 b6.4 b

Accounts Payable

48.8 m51.7 m56.7 m

Current Liabilities

4.4 b4.6 b4.4 b

Total Liabilities

4.6 b4.7 b4.5 b

Additional Paid-in Capital

794.4 m880.1 m952.7 m

Retained Earnings

957.5 m894.3 m926.2 m

Total Equity

1.8 b1.8 b1.9 b

EPS

1.71.92.1

Financial Leverage

3.6 x3.6 x3.4 x
USDQ1, 2017Q2, 2017Q3, 2017

Cash

130 m165 m189.9 m

Accounts Receivable

31.7 m35.8 m32 m

Inventories

62.7 m65.1 m68 m

Current Assets

4.5 b4.2 b5.8 b

PP&E

348.4 m349.3 m341.6 m

Goodwill

657.1 m657.1 m657.1 m

Total Assets

6.1 b5.8 b7.3 b

Accounts Payable

51.2 m48.6 m55.9 m

Current Liabilities

3.9 b3.8 b5.3 b

Total Liabilities

4.1 b4 b5.4 b

Additional Paid-in Capital

986.4 m993.9 m1 b

Retained Earnings

958.9 m834.9 m871.9 m

Total Equity

2 b1.8 b1.9 b

EPS

0.60.60.6

Financial Leverage

3.1 x3.2 x3.9 x
USDFY, 2014FY, 2015FY, 2016

Net Income

627.5 m674.9 m756.8 m

Depreciation and Amortization

105 m106.6 m115.1 m

Accounts Receivable

(18 m)(28 m)(38 m)

Inventories

22.5 m(8.5 m)(5 m)

Accounts Payable

45.1 m51.1 m63.3 m

Cash From Operating Activities

880.9 m895.2 m1 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)
USDQ1, 2017Q2, 2017Q3, 2017

Net Income

217.4 m419.5 m622 m

Depreciation and Amortization

29.7 m59.7 m90.7 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 m5.8 m37.5 m

Cash From Operating Activities

294.7 m413.4 m769.3 m

Purchases of PP&E

(20.3 m)(46.8 m)(66.8 m)

Cash From Investing Activities

380.3 m697.9 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
FY, 2014FY, 2015FY, 2016May, 2017

Paying Customers

580 k590 k605 k

Locations

100

Paychex Market Value History

Paychex Revenue Breakdown

Paychex Median Salaries

Source: 47 public H-1B filings from Paychex

Paychex Online and Social Media Presence

Paychex Company Life and Culture

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