Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Paychex, Inc. (PAYX)

Company Dividend Discount ModelIndustry: Staffing & Employment ServicesSector: Industrials

Valuation Snapshot

Stable Growth$97.80 - $240.00$145.91
Multi-Stage$74.15 - $80.69$77.36
Blended Fair Value$111.64
Current Price$139.46
Upside-19.95%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS10.25%10.13%4.003.633.252.762.512.462.282.041.831.68
YoY Growth--10.13%11.94%17.55%10.00%2.17%7.57%11.78%11.69%9.20%9.91%
Dividend Yield--2.87%2.77%2.66%2.24%2.19%3.21%2.80%2.79%3.21%2.76%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,613.70
(-) Cash Dividends Paid (M)1,484.20
(=) Cash Retained (M)129.50
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)322.74201.71121.03
Cash Retained (M)129.50129.50129.50
(-) Cash Required (M)-322.74-201.71-121.03
(=) Excess Retained (M)-193.24-72.218.47
(/) Shares Outstanding (M)362.00362.00362.00
(=) Excess Retained per Share-0.53-0.200.02
LTM Dividend per Share4.104.104.10
(+) Excess Retained per Share-0.53-0.200.02
(=) Adjusted Dividend3.573.904.12
WACC / Discount Rate9.35%9.35%9.35%
Growth Rate5.50%6.50%7.50%
Fair Value$97.80$145.91$240.00
Upside / Downside-29.87%4.63%72.09%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,613.701,718.591,830.301,949.272,075.972,210.912,277.24
Payout Ratio91.97%91.58%91.18%90.79%90.39%90.00%92.50%
Projected Dividends (M)1,484.201,573.881,668.961,769.741,876.571,989.822,106.44

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.35%9.35%9.35%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,425.831,439.351,452.86
Year 2 PV (M)1,369.741,395.831,422.16
Year 3 PV (M)1,315.831,353.601,392.09
Year 4 PV (M)1,264.011,312.621,362.62
Year 5 PV (M)1,214.211,272.861,333.75
PV of Terminal Value (M)20,252.0321,230.2122,245.83
Equity Value (M)26,841.6628,004.4729,209.32
Shares Outstanding (M)362.00362.00362.00
Fair Value$74.15$77.36$80.69
Upside / Downside-46.83%-44.53%-42.14%

High-Yield Dividend Screener

« Prev Page 104 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
AVIO.MIAvio S.p.A.0.80%$0.2489.27%
DSOL.SGWisdomTree Solana0.80%$0.1219.79%
FLOB.BRFloridienne S.A.0.80%$5.0025.39%
GIGANTE.MXGrupo Gigante, S. A. B. de C. V.0.80%$0.2512.46%
MTC-R.BKMuangthai Capital Public Company Limited0.80%$0.258.48%
002606.SZDalian Insulator Group Co., Ltd0.79%$0.0717.61%
014620.KQSung Kwang Bend Co.,Ltd.0.79%$200.0215.66%
017370.KSWooshin Systems Co., Ltd.0.79%$49.692.66%
300701.SZSenba Sensing Technology Co.,Ltd.0.79%$0.1045.41%
300847.SZHG Technologies Co., Ltd.0.79%$0.1435.02%
301591.SZNanjing Comptech Composites Corp0.79%$0.3237.44%
5306.KLFarm Fresh Berhad0.79%$0.0233.34%
600339.SSChina Petroleum Engineering Corporation0.79%$0.0328.23%
601086.SSGansu Guofang Industry & Trade (Group) Co., Ltd.0.79%$0.0863.39%
603161.SSKehua Holdings Co., Ltd.0.79%$0.1122.02%
603606.SSNingbo Orient Wires & Cables Co.,Ltd.0.79%$0.4732.61%
605033.SSShaanxi Meibang Pharmaceutical Group Co., Ltd.0.79%$0.1672.35%
6463.TTPR Co., Ltd.0.79%$10.256.48%
DANR.MIDanieli & C. Officine Meccaniche S.p.A.0.79%$0.298.39%
GILLETTE.BOGillette India Limited0.79%$65.0036.90%
PAASPan American Silver Corp.0.79%$0.4023.99%
PDSL.BOPDS Limited0.79%$2.9238.22%
SNI.OLStolt-Nielsen Limited0.79%$2.5235.09%
002334.SZShenzhen INVT Electric Co.,Ltd0.78%$0.0720.17%
004140.KSDongbang Transport Logistics Co., Ltd.0.78%$20.037.69%
011070.KSLG Innotek Co., Ltd.0.78%$2,091.9017.12%
2276.HKShanghai Conant Optical Co., Ltd.0.78%$0.4222.72%
229640.KSLS Eco Energy Ltd.0.78%$278.8820.95%
300545.SZShenzhen Liande Automation Equipment co.,ltd.0.78%$0.2430.89%
300922.SZQinhuangdao Tianqin Equipment Manufacturing Co.,Ltd.0.78%$0.1866.08%
301011.SZGuangZhou Wahlap Technology Corporation Limited0.78%$0.2037.38%
3659.TNEXON Co., Ltd.0.78%$29.7521.18%
600360.SSJilin Sino-Microelectronics Co., Ltd.0.78%$0.0634.13%
605167.SSJiangsu Libert Inc.0.78%$0.1326.15%
6736.TSun Corporation0.78%$70.057.32%
688097.SSBOZHON Precision Industry Technology Co.,Ltd0.78%$0.2927.43%
688257.SSShareate Tools Ltd.0.78%$0.2731.76%
9766.TKonami Group Corporation0.78%$165.3826.44%
BBAR.BABanco BBVA Argentina S.A.0.78%$73.3713.95%
CUV.AXClinuvel Pharmaceuticals Limited0.78%$0.106.93%
NSIS-B.CONovozymes A/S0.78%$3.0889.95%
R3NK.BERENK Group AG0.78%$0.4241.42%
VIRP.PAVirbac S.A.0.78%$2.778.47%
002078.SZShandong Sunpaper Co., Ltd.0.77%$0.1210.77%
002225.SZPuyang Refractories Group Co., Ltd.0.77%$0.0446.81%
030610.KSKyobo Securities Co ., Ltd0.77%$72.256.71%
036200.KQUNISEM Co., Ltd.0.77%$80.0020.75%
300863.SZNingbo KBE Electrical Technology Co.,Ltd.0.77%$0.3942.01%
301498.SZGambol Pet Group Co., Ltd.0.77%$0.5030.03%
600577.SSTongling Jingda Special Magnet Wire Co., Ltd.0.77%$0.1034.21%