Paychex, Inc.

BRSE:PCX Stock Report

Market Cap: CHF 28.0b

Paychex Valuation

Is PCX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of PCX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: PCX (CHF79.75) is trading below our estimate of future cash flow value (CHF157.93)

Significantly Below Future Cash Flow Value: PCX is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PCX?

Key metric: As PCX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PCX. This is calculated by dividing PCX's market cap by their current earnings.
What is PCX's PE Ratio?
PE Ratio21.4x
EarningsUS$1.64b
Market CapUS$34.96b

Price to Earnings Ratio vs Peers

How does PCX's PE Ratio compare to its peers?

The above table shows the PE ratio for PCX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22x
ADEN Adecco Group
9.8x13.10%CHF 2.7b
SGSN SGS
26.6x8.32%CHF 17.7b
ADP Automatic Data Processing
20.1x7.36%US$88.7b
6098 Recruit Holdings
31.4x13.55%JP¥14.6t
PCX Paychex
21.4x10.72%CHF 35.0b

Price-To-Earnings vs Peers: PCX is good value based on its Price-To-Earnings Ratio (21.4x) compared to the peer average (21.5x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does PCX's PE Ratio compare vs other companies in the European Professional Services Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PCX 21.4xIndustry Avg. 17.6xNo. of Companies13PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PCX is expensive based on its Price-To-Earnings Ratio (21.4x) compared to the European Professional Services industry average (17.4x).

Price to Earnings Ratio vs Fair Ratio

What is PCX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PCX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PCX's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PCX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
CHF 84.40
0%
11.86%CHF 112.08CHF 72.05n/a14
Jun ’27n/a
CHF 79.97
0%
7.95%CHF 98.33CHF 70.79n/a15
May ’27n/a
CHF 78.90
0%
8.08%CHF 97.71CHF 70.35n/a15
Apr ’27n/a
CHF 80.87
0%
7.83%CHF 99.83CHF 71.88n/a15
Mar ’27n/a
CHF 92.29
0%
9.80%CHF 114.72CHF 75.96n/a15
Feb ’27n/a
CHF 92.66
0%
8.80%CHF 114.40CHF 75.75n/a15
Jan ’27n/a
CHF 96.75
0%
6.99%CHF 117.23CHF 87.13n/a14
Dec ’26n/a
CHF 107.27
0%
7.40%CHF 120.73CHF 91.75n/a14
Nov ’26n/a
CHF 108.40
0%
5.83%CHF 120.70CHF 98.17n/a14
Oct ’26n/a
CHF 108.26
0%
5.91%CHF 119.55CHF 97.23n/a12
Sep ’26n/a
CHF 119.19
0%
6.07%CHF 129.43CHF 98.69n/a12
Aug ’26n/a
CHF 118.82
0%
6.81%CHF 131.17CHF 96.99n/a13
Jul ’26n/a
CHF 116.32
0%
7.77%CHF 131.97CHF 97.58n/a15
Jun ’26n/a
CHF 121.06
0%
6.69%CHF 130.75CHF 100.96n/a15
May ’26n/a
CHF 119.29
0%
6.33%CHF 130.03CHF 106.98n/a15
Apr ’26n/a
CHF 127.84
0%
6.31%CHF 139.29CHF 114.61n/a15
Mar ’26n/a
CHF 126.98
0%
5.52%CHF 138.25CHF 109.15n/a15
Feb ’26n/a
CHF 127.28
0%
5.38%CHF 136.89CHF 109.51n/a15
Jan ’26n/a
CHF 124.46
0%
6.80%CHF 135.33CHF 103.76n/a16
Dec ’25n/a
CHF 118.42
0%
7.10%CHF 132.37CHF 101.48n/a16
Nov ’25n/a
CHF 113.61
0%
6.74%CHF 126.42CHF 98.23n/a16
Oct ’25n/a
CHF 108.67
0%
7.27%CHF 125.24CHF 97.32n/a16
Sep ’25n/a
CHF 103.65
0%
4.67%CHF 111.14CHF 94.04n/a16
Aug ’25n/a
CHF 109.62
0%
4.67%CHF 117.51CHF 99.43n/a17
Jul ’25n/a
CHF 108.89
0%
4.66%CHF 116.78CHF 98.82n/a17
Jun ’25n/a
CHF 110.02
0%
4.44%CHF 118.33CHF 101.04n/a17
CHF 86.17
Fair Value
7.4% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/18 11:02
End of Day Share Price 2026/06/08 00:00
Earnings2026/02/28
Annual Earnings2025/05/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Paychex, Inc. is covered by 35 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullArgus Research Company
Mark MarconBaird
Lisa Dejong EllisBernstein