PAYX Stock | | | USD 139.54 1.73 1.26% |
Paychex financial indicator trend analysis is much more than just breaking down Paychex prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Paychex is a good investment. Please check the relationship between Paychex Interest Expense and its Gross Profit accounts. Check out
Your Equity Center to better understand how to build diversified portfolios, which includes a position in Paychex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in manufacturing.
For more information on how to buy Paychex Stock please use our
How to Invest in Paychex guide.
Interest Expense vs Gross Profit
Interest Expense vs Gross Profit Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Paychex Interest Expense account and
Gross Profit. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Paychex's Interest Expense and Gross Profit is 0.83. Overlapping area represents the amount of variation of Interest Expense that can explain the historical movement of Gross Profit in the same time period over historical financial statements of Paychex, assuming nothing else is changed. The correlation between historical values of Paychex's Interest Expense and Gross Profit is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Interest Expense of Paychex are associated (or correlated) with its Gross Profit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Gross Profit has no effect on the direction of Interest Expense i.e., Paychex's Interest Expense and Gross Profit go up and down completely randomly.
Correlation Coefficient | 0.83 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Interest Expense
The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit.
Gross Profit
Gross profit is a required income statement account that reflects total revenue of Paychex minus its cost of goods sold. It is profit before Paychex operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.
Most indicators from Paychex's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Paychex current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out
Your Equity Center to better understand how to build diversified portfolios, which includes a position in Paychex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in manufacturing.
For more information on how to buy Paychex Stock please use our
How to Invest in Paychex guide.At this time, Paychex's
Selling General Administrative is fairly stable compared to the past year.
Sales General And Administrative To Revenue is likely to rise to 0.37 in 2024, whereas
Tax Provision is likely to drop slightly above 443.2
M in 2024.
| 2021 | 2022 | 2023 | 2024 (projected) |
Gross Profit | 3.3B | 3.6B | 3.8B | 4.0B | Total Revenue | 4.6B | 5.0B | 5.3B | 5.5B |
Paychex fundamental ratios Correlations
Click cells to compare fundamentals
Paychex Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Paychex fundamental ratios Accounts
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Additional Tools for Paychex Stock Analysis
When running Paychex's price analysis, check to
measure Paychex's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Paychex is operating at the current time. Most of Paychex's value examination focuses on studying past and present price action to
predict the probability of Paychex's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Paychex's price. Additionally, you may evaluate how the addition of Paychex to your portfolios can decrease your overall portfolio volatility.