Paychex provides payroll, human resource and benefits outsourcing solutions for small and medium-sized businesses. The Company 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, as well as collection and remittance of clients' payroll obligations. Paychex also provides payroll tax administration services, employee payment services and regulatory compliance services, such as new-hire reporting and garnishment processing.
Company Growth (employees)
Type
Public
HQ
Rochester, US
Founded
1971
Size (employees)
13,700 (est)
Paychex was founded in 1971 and is headquartered in Rochester, US

Key People/Management 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
Mark Bottini

Mark Bottini

Senior Vice President, Sales
John Gibson

John Gibson

Senior Vice President, Service
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 Financials and Metrics

Paychex Financials

Paychex's revenue was reported to be $3 b in FY, 2016
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 (13-Nov-2017)

23.5 b

Cash (30-Sep-2017)

189.9 m

EV

23.4 b
Paychex's current market capitalization is $23.5 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
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2017Q2, 2017Q3, 2017

Revenue

723 m722.4 m752.6 m785.5 m771.4 m773.5 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%
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
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2017Q2, 2017Q3, 2017

Cash

455.9 m412.3 m253.1 m130 m165 m130 m165 m189.9 m

Accounts Receivable

32.1 m36.7 m31.6 m31.7 m35.8 m31.7 m35.8 m32 m

Inventories

62.7 m65.1 m68 m

Current Assets

4.6 b4.6 b5.5 b4.5 b4.2 b4.5 b4.2 b5.8 b
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)
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2017Q2, 2017Q3, 2017

Net Income

321.5 m481.6 m171.3 m344.3 m513.7 m209.1 m398.3 m578.7 m217.4 m419.5 m217.4 m419.5 m622 m

Depreciation and Amortization

29.7 m59.7 m90.7 m

Accounts Receivable

(46.4 m)2.4 m(19.1 m)(56.3 m)500 k(30.1 m)(65.1 m)18.6 m(78.1 m)(123 m)(78.1 m)(123 m)(24.6 m)

Inventories

6.6 m(46.4 m)(32.1 m)
USDY, 2017

EV/EBIT

76.3 x

EV/CFO

30.4 x

Revenue/Employee

58.1 k

Financial Leverage

3.9 x
Show all financial metrics

Paychex Operating Metrics

Paychex's Enterprise Customers was reported to be 12 m in FY, 2017, which is a 9% increase from the previous period
FY, 2014FY, 2015FY, 2016May, 2017FY, 2017

Paying Customers

590 k605 k605 k605 k605 k

Facilities

3.03 m3.04 m2.94 m2.92 m

Enterprise Customers

12 m10 m11 m12 m

Locations

100
Show all operating metrics

Paychex Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
HR Services, Inc.
Rapid Payroll, Inc.
PXC Inc.
Paychex Time & Attendance Inc.
Paychex Securities Corporation
Paychex Recordkeeping Services, Inc.
Paychex Real Estate, LLC
Paychex of New York LLC
Paychex North America Inc.
Paychex Management LLC
Paychex Investment LLC
Paychex Insurance Concepts, Inc.
Paychex Insurance Agency, Inc.
Paychex Deutschland GmbH
Paychex Business Solutions, LLC
Paychex, Brazil LLC
Paychex Benefit Technologies Inc.
Paychex Advance LLC
NETTIME SOLUTIONS, L.L.C.
HR Services Inc.
Fast 401k, Inc.
Expense Wire LLC
Advantage Payroll Services Inc.
SurePayroll Inc.
HR OutsourcingAugust 21, 2017
Advance PartnersDecember 02, 2015
nettime SolutionsJune 18, 2014
myStaffingPro by HR ServicesJune 12, 2013
ExpenseWireDecember 01, 2012
Icon Time SystemsJanuary 09, 2012
ePlan ServicesMay 03, 2011
SurePayrollDecember 09, 2010
Paychex Benefit TechnologiesSeptember 12, 2007
InterPayMarch 31, 2003$182 m
Advantage Payroll ServicesSeptember 19, 2002$314 m
Olsen Computer SystemsNovember 21, 1996
The Payroll CompanySeptember 28, 1995

Paychex Market Value History

Paychex Median Salaries

Source: 47 public H-1B filings from Paychex

Paychex's Web-traffic and Trends

Paychex Online and Social Media Presence

Paychex News and Updates

Acquisition of national professional employer organization advances Paychex PEO growth

Paychex, Inc., a leading provider of integrated human capital management solutions for small- to medium-sized businesses, today announced the acquisition of HR Outsourcing Holdings, Inc. (HROI), and all of its operating subsidiaries, which have been conducting business since 2001. HROI is a national…

Paychex Company Life and Culture

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