Paychex Inc (PAYX)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	798,600	798,500	798,400	798,300	798,200	798,100	797,900	797,800	797,700	797,600	797,500	797,400	797,300	797,200	797,000	796,900	796,800	796,700	796,600	796,500
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
Debt-to-assets ratio		0.08	0.06	0.07	0.07	0.08	0.08	0.09	0.09	0.08	0.08	0.08	0.09	0.09	0.08	0.09	0.10	0.09	0.08	0.09	0.09

May 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $798,600K ÷ $10,383,100K
= 0.08

The debt-to-assets ratio for Paychex Inc has ranged between 0.06 and 0.10 over the past eight quarters, indicating that the company maintains a relatively low level of debt relative to its total assets. The ratio remained relatively stable around 0.08 to 0.09 for most of the quarters, showing a consistent financial position in terms of leveraging its assets with debt. Overall, the company's debt levels do not seem to pose a significant risk to its financial stability, as it has been able to maintain a healthy balance between debt and assets.