Paychex Inc (PAYX)
Return on assets (ROA)
| May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 1,690,400 | 1,660,900 | 1,629,700 | 1,597,300 | 1,557,300 | 1,503,300 | 1,466,600 | 1,438,400 | 1,392,800 | 1,359,400 | 1,279,200 | 1,219,500 | 1,097,500 | 1,055,200 | 1,059,200 | 1,045,500 | 1,098,100 | 1,107,800 | 1,077,900 | 1,055,000 |
| Total assets | US$ in thousands | 10,383,100 | 13,023,900 | 12,052,100 | 12,200,000 | 10,546,400 | 10,603,600 | 9,214,300 | 9,125,900 | 9,635,200 | 10,283,700 | 9,688,100 | 9,367,300 | 9,227,200 | 9,665,900 | 8,615,400 | 8,376,900 | 8,550,700 | 9,466,900 | 8,701,700 | 8,638,200 |
| ROA | 16.28% | 12.75% | 13.52% | 13.09% | 14.77% | 14.18% | 15.92% | 15.76% | 14.46% | 13.22% | 13.20% | 13.02% | 11.89% | 10.92% | 12.29% | 12.48% | 12.84% | 11.70% | 12.39% | 12.21% |
May 31, 2024 calculation
ROA = Net income (ttm) ÷ Total assets
= $1,690,400K ÷ $10,383,100K
= 16.28%
Paychex Inc has demonstrated a consistent and positive trend in its Return on Assets (ROA) over the past few years, indicating effective asset utilization and profitability. The ROA ranged from a low of 10.92% to a peak of 16.28% during the period under review. This suggests that the company is generating substantial profits relative to its total assets invested. The upward trajectory in ROA reflects the company's ability to efficiently generate earnings from its assets, highlighting strong operational performance and effective management of resources. Overall, Paychex Inc's ROA performance indicates a sound financial position and efficient utilization of assets to drive profitability.