PAYXPAYCHEX INC
Services-Engineering, Accounting, Research, Management
- Revenue
- $6.3B
- 16% YoY
- Operating margin
- 39.8%
- 2.4% YoY
- EBITDA
- $3.0B
- 22% YoY
- Market cap
- —
- Employees
- 17,600
- $358K revenue each
- Net debt / EBITDA
- 1.3×
- $4.0B net debt
- AI in 10-K
- 10.0
- mentions per 10K words
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear145% of net incomeCash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear86% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear29% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $4.6B | $4.9B | $5.1B | $5.4B | $6.3B | 16% |
| Operating income | $1.8B | $2.0B | $2.2B | $2.2B | $2.5B | 14% |
| Net income | $1.4B | $1.6B | $2K | $1.7B | $1.8B | 6.2% |
| Operating cash flow | $1.6B | $1.7B | $1.9B | $1.9B | $2.6B | 34% |
| Capex | $134M | $143M | $161M | $192M | $235M | 22% |
| Stock-based comp | $53M | $63M | $61M | $112M | $96M | 14% |
| Buybacks | $145M | $0 | $169M | $105M | $611M | 485% |
| Dividends | $1000M | $1.2B | $1.3B | $1.4B | $1.6B | 9.7% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $844K · 1
- Net
- −$844K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | — | — | 111 | 92 |
| FY2025 | — | — | 174 | 147 |
| FY2024 | — | — | 129 | 121 |
| FY2023 | — | — | 109 | 96 |
| FY2022 | — | — | 125 | 93 |