Paychex, Inc. (PAYX) Balance Sheet
PAYX balance sheet, FY2026
May 31, 2026 · U.S. dollars$16.17B assets = $12.44B liabilities + $3.74B equity
Both columns are drawn to the same scale: what PAYX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PAYX financial health
Current ratio1.26
Adequate · current assets cover current liabilities 1.26×
Debt / equity1.24
Moderate leverage · $1.24 of debt for each $1 of equity
Equity / assets23.1%
Balanced · of assets funded by shareholders
Cash / debt25.4%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles38.4%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
PAYX balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.83BFY2017 | $16.17BFY2026 | +10.0%/yr | |
| Total liabilities | $4.88BFY2017 | $12.44BFY2026 | +11.0%/yr | |
| Shareholders’ equity | $1.96BFY2017 | $3.74BFY2026 | +7.5%/yr | |
| Cash & short-term investments | $323.4MFY2017 | $1.18BFY2026 | +15.4%/yr | |
| Total debt | $280.5MFY2017 | $4.63BFY2026 | +36.6%/yr | |
| Net cash (debt) | $42.9MFY2017 | −$3.45BFY2026 | −$3.5B | |
| Working capital | $546.9MFY2017 | $1.77BFY2026 | +$1.2B | |
| Book value per share | $5.39FY2017 | $10.38FY2026 | +7.5%/yr | |
| Current ratio | 1.12FY2017 | 1.26FY2026 | +0.14 | |
| Debt / equity | 0.14FY2017 | 1.24FY2026 | +1.10 | |
| Shares outstanding | 362.6MFY2017 | 360.0MFY2026 | −0.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PAYX assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
PAYX liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
PAYX debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PAYX balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.18B | $1.66B | $1.50B | $1.60B | $1.22B | $1.03B | $932.4M | $712.6M | $424.2M | $323.4M |
| Cash & equivalents | $1.14B | $1.63B | $1.47B | $1.22B | $370.0M | $995.2M | $905.2M | $673.6M | $358.2M | $184.6M |
| Short-term investments | $36.3M | $34.5M | $33.9M | $373.4M | $853.9M | $36.7M | $27.2M | $39.0M | $66.0M | $138.8M |
| Receivables | $2.21B | $1.98B | $1.63B | $1.43B | $1.32B | $1.05B | $790.3M | $854.2M | $524.6M | $543.4M |
| Inventory | $0 | $0 | $0 | $4.22B | $0 | $3.83B | $3.50B | $3.87B | $4.72B | $4.35B |
| Other current assets | $5.23B | $5.28B | $4.12B | $289.8M | $4.04B | $249.2M | $244.8M | $236.7M | $114.8M | $58.3M |
| Total current assets | $8.61B | $8.92B | $7.25B | $7.53B | $6.58B | $6.17B | $5.46B | $5.68B | $5.78B | $5.27B |
| Property, plant & equipment (net) | $652.8M | $575.3M | $458.6M | $457.8M | $480.0M | $498.8M | $522.2M | $408.7M | $393.5M | $337.2M |
| Goodwill & intangible assets | $6.21B | $6.46B | $2.08B | $2.02B | $2.06B | $2.10B | $2.12B | $2.18B | $955.4M | $714.7M |
| Long-term investments | $0 | $0 | $3.7M | $3.8M | $5.0M | $7.1M | $10.2M | $10.2M | $295.5M | $454.0M |
| Other non-current assets | $697.0M | $610.9M | $592.1M | $535.3M | $512.5M | $455.3M | $432.0M | $404.2M | $34.9M | $55.8M |
| Total assets | $16.17B | $16.56B | $10.38B | $10.55B | $9.64B | $9.23B | $8.55B | $8.68B | $7.46B | $6.83B |
| Liabilities | ||||||||||
| Accounts payable | $154.8M | $129.8M | $104.3M | $84.7M | $105.7M | $89.0M | $79.4M | $75.9M | $73.7M | $57.2M |
| Short-term debt | $22.0M | $418.4M | $18.7M | $10.2M | $8.7M | $36.3M | $5.1M | — | $325.2M | $280.5M |
| Deferred revenue | $69.4M | $69.4M | $50.2M | $47.3M | $38.4M | $37.9M | $39.2M | $40.3M | $24.3M | $22.9M |
| Total current liabilities | $6.84B | $6.96B | $5.31B | $5.81B | $5.27B | $4.94B | $4.43B | $4.84B | $5.30B | $4.73B |
| Long-term debt | $4.56B | $4.55B | $798.6M | $798.2M | $797.7M | $797.3M | $796.8M | $796.4M | $0 | $0 |
| Lease obligations | $52.2M | $55.5M | $49.0M | $57.3M | $74.8M | $92.4M | $96.9M | — | — | — |
| Other long-term liabilities | $1.04B | $931.4M | $474.4M | $449.6M | $483.1M | $543.7M | $545.6M | $415.1M | $261.9M | $153.3M |
| Total liabilities | $12.44B | $12.44B | $6.58B | $7.05B | $6.55B | $6.28B | $5.77B | $6.06B | $5.56B | $4.88B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M |
| Retained earnings (deficit) | $1.81B | $2.28B | $2.21B | $2.02B | $1.67B | $1.45B | $1.43B | $1.41B | $930.3M | $901.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$49.9M | −$53.7M | −$145.1M | −$159.9M | −$133.9M | $51.8M | $56.5M | $100,000 | −$36.2M | $20.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $3.74B | $4.13B | $3.80B | $3.49B | $3.09B | $2.95B | $2.78B | $2.62B | $2.02B | $1.96B |
| Key figures | ||||||||||
| Total debt | $4.63B | $5.02B | $866.3M | $865.7M | $881.2M | $926.0M | $898.8M | $809.4M | $325.2M | $280.5M |
| Net cash (debt) | −$3.45B | −$3.36B | $636.5M | $729.7M | $342.7M | $105.9M | $33.6M | −$96.8M | $99.0M | $42.9M |
| Working capital | $1.77B | $1.96B | $1.94B | $1.72B | $1.31B | $1.23B | $1.04B | $832.7M | $487.7M | $546.9M |
| Tangible book value | −$2.48B | −$2.33B | $1.72B | $1.47B | $1.03B | $851.5M | $659.7M | $437.8M | $1.07B | $1.24B |
| Book value per share | $10.38 | $11.40 | $10.50 | $9.64 | $8.50 | $8.14 | $7.70 | $7.24 | $5.60 | $5.39 |
| Shares outstanding | 360.0M | 362.0M | 362.1M | 362.3M | 363.1M | 362.1M | 361.0M | 361.8M | 361.5M | 362.6M |
| Current ratio | 1.26 | 1.28 | 1.37 | 1.30 | 1.25 | 1.25 | 1.23 | 1.17 | 1.09 | 1.12 |
| Quick ratio | 0.49 | 0.52 | 0.59 | 0.52 | 0.48 | 0.42 | 0.39 | 0.32 | 0.18 | 0.18 |
| Debt / equity | 1.24 | 1.22 | 0.23 | 0.25 | 0.29 | 0.31 | 0.32 | 0.31 | 0.16 | 0.14 |
| Equity / assets | 23.1% | 24.9% | 36.6% | 33.1% | 32.0% | 31.9% | 32.5% | 30.2% | 27.1% | 28.6% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $934.2M | $1.18B | $1.83B | $1.57B | $1.67B | $1.66B | $1.60B | $1.24B | $1.50B | $1.50B | $1.73B | $1.40B |
| Cash & equivalents | $600.9M | $1.14B | $1.79B | $1.54B | $809.0M | $1.63B | $1.56B | $1.20B | $1.46B | $1.47B | $1.69B | $1.36B |
| Short-term investments | $333.3M | $36.3M | $38.1M | $37.6M | $861.9M | $34.5M | $37.2M | $38.0M | $38.4M | $33.9M | $36.6M | $34.4M |
| Receivables | $2.34B | $2.21B | $2.07B | $2.03B | $2.00B | $1.98B | $1.87B | $1.88B | $1.70B | $1.63B | $1.70B | $1.65B |
| Inventory | $200,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.82B | $0 | $1 | $5.57B |
| Other current assets | $4.82B | $5.23B | $6.03B | $5.30B | $5.37B | $5.28B | $4.61B | $4.31B | $342.4M | $4.12B | $6.45B | $304.3M |
| Total current assets | $8.09B | $8.61B | $9.93B | $8.91B | $9.04B | $8.92B | $8.08B | $7.43B | $7.36B | $7.25B | $9.89B | $8.92B |
| Property, plant & equipment (net) | $690.4M | $652.8M | $639.0M | $631.3M | $589.6M | $575.3M | $499.4M | $478.4M | $466.9M | $458.6M | $478.0M | $477.0M |
| Goodwill & intangible assets | $6.16B | $6.21B | $6.27B | $6.34B | $6.41B | $6.46B | $2.05B | $2.06B | $2.07B | $2.08B | $2.09B | $2.08B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.7M | $1.6M | $1.6M |
| Other non-current assets | $716.4M | $697.0M | $669.6M | $638.6M | $623.0M | $610.9M | $591.8M | $587.1M | $588.2M | $592.1M | $570.7M | $566.5M |
| Total assets | $15.66B | $16.17B | $17.51B | $16.52B | $16.66B | $16.56B | $11.22B | $10.55B | $10.49B | $10.38B | $13.02B | $12.05B |
| Liabilities | ||||||||||||
| Accounts payable | $141.4M | $154.8M | $132.4M | $137.6M | $120.6M | $129.8M | $118.7M | $89.2M | $80.9M | $104.3M | $94.0M | $92.3M |
| Short-term debt | — | $22.0M | $400.0M | $418.1M | $418.4M | $418.4M | $17.6M | $18.2M | $18.9M | $18.7M | $18.8M | $13.6M |
| Deferred revenue | $70.8M | $69.4M | $70.3M | $70.5M | $68.8M | $69.4M | $51.7M | $50.7M | $50.3M | $50.2M | $51.7M | $55.1M |
| Total current liabilities | $6.34B | $6.84B | $7.88B | $7.04B | $7.13B | $6.96B | $5.80B | $5.33B | $5.34B | $5.31B | $8.00B | $7.25B |
| Long-term debt | $0 | $4.56B | $4.55B | $4.55B | $4.55B | $4.55B | $799.0M | $798.9M | $798.7M | $798.6M | $798.5M | $798.4M |
| Lease obligations | — | $52.2M | $59.3M | $66.6M | $52.9M | $55.5M | $47.1M | $45.7M | $49.4M | $49.0M | $51.5M | $53.5M |
| Other long-term liabilities | $5.62B | $1.04B | $1.06B | $1.05B | $1.01B | $931.4M | $506.3M | $500.9M | $496.1M | $474.4M | $477.5M | $474.9M |
| Total liabilities | $11.96B | $12.44B | $13.50B | $12.64B | $12.69B | $12.44B | $7.11B | $6.63B | $6.64B | $6.58B | $9.28B | $8.53B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M | $3.6M |
| Retained earnings (deficit) | $1.79B | $1.81B | $2.05B | $1.95B | $2.07B | $2.28B | $2.39B | $2.22B | $2.17B | $2.21B | $2.19B | $2.01B |
| Accumulated other comprehensive income | −$81.3M | −$49.9M | −$2.7M | −$17.6M | −$25.0M | −$53.7M | −$89.6M | −$91.9M | −$80.3M | −$145.1M | −$145.2M | −$167.2M |
| Total shareholders' equity | $3.71B | $3.74B | $4.01B | $3.88B | $3.97B | $4.13B | $4.12B | $3.93B | $3.85B | $3.80B | $3.75B | $3.52B |
| Key figures | ||||||||||||
| Total debt | $4.62B | $4.63B | $5.01B | $5.04B | $5.02B | $5.02B | $863.7M | $862.8M | $867.0M | $866.3M | $868.8M | $865.5M |
| Net cash (debt) | −$3.69B | −$3.45B | −$3.18B | −$3.46B | −$3.35B | −$3.36B | $737.3M | $377.3M | $631.0M | $636.5M | $861.4M | $532.0M |
| Working capital | $1.75B | $1.77B | $2.05B | $1.87B | $1.91B | $1.96B | $2.28B | $2.10B | $2.02B | $1.94B | $1.89B | $1.67B |
| Tangible book value | −$2.45B | −$2.48B | −$2.26B | −$2.46B | −$2.44B | −$2.33B | $2.06B | $1.87B | $1.78B | $1.72B | $1.66B | $1.44B |
| Book value per share | $10.39 | $10.43 | $11.13 | $10.75 | $10.97 | $11.39 | $11.37 | $10.85 | $10.64 | $10.51 | $10.36 | $9.73 |
| Shares outstanding | 356.6M | 358.2M | 360.6M | 361.1M | 361.9M | 362.3M | 362.0M | 361.8M | 361.9M | 361.8M | 361.7M | 362.1M |
| Current ratio | 1.28 | 1.26 | 1.26 | 1.27 | 1.27 | 1.28 | 1.39 | 1.39 | 1.38 | 1.37 | 1.24 | 1.23 |
| Quick ratio | 0.52 | 0.49 | 0.50 | 0.51 | 0.52 | 0.52 | 0.60 | 0.59 | 0.60 | 0.59 | 0.43 | 0.42 |
| Debt / equity | 1.25 | 1.24 | 1.25 | 1.30 | 1.26 | 1.22 | 0.21 | 0.22 | 0.23 | 0.23 | 0.23 | 0.25 |
| Equity / assets | 23.7% | 23.1% | 22.9% | 23.5% | 23.8% | 24.9% | 36.7% | 37.2% | 36.7% | 36.6% | 28.8% | 29.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 17, 2026); data from EODHD.
PAYX financial position
At the end of fiscal 2026 (May 31, 2026), Paychex had total assets of $16.2 billion (down 2.4% from a year earlier), total liabilities of $12.4 billion and shareholders' equity of $3.7 billion. It held $1.2 billion in cash and short-term investments against $4.6 billion of debt, net debt of $3.5 billion. Its current ratio was 1.26. In the latest quarter (ended August 31, 2026) total assets were $15.7 billion and equity $3.7 billion.
Related: PAYX income statement, PAYX cash flow statement, PAYX key metrics. See the PAYX stock overview for the latest quote and news.
PAYX balance sheet FAQ
What are Paychex's total assets?
Paychex reported total assets of $16.2 billion at the end of fiscal 2026 (May 31, 2026), compared with $16.6 billion a year earlier.
How much debt does Paychex have?
Paychex had $4.6 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.24.
How much cash does Paychex have?
Paychex held $1.2 billion in cash and short-term investments at the end of fiscal 2026; with $4.6 billion of debt that is net debt of $3.5 billion.
What is Paychex's book value?
Paychex's shareholders' equity (book value) was $3.7 billion at the end of fiscal 2026, or $10.38 per share.
What is Paychex's current ratio?
Paychex had current assets of $8.6 billion and current liabilities of $6.8 billion, a current ratio of 1.26 (it can cover its short-term obligations).
How much goodwill does Paychex have?
Paychex carried $6.2 billion of goodwill and intangible assets, 38.4% of total assets, at the end of fiscal 2026.