Paychex Cash vs Total Current Liabilities Analysis

PAYX Stock  USD 144.49  0.96  0.66%   
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 Cash and its Total Current Liabilities 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.

Cash vs Total Current Liabilities

Cash vs Total Current Liabilities Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Paychex Cash account and Total Current Liabilities. At this time, the significance of the direction appears to have very week relationship.
The correlation between Paychex's Cash and Total Current Liabilities is 0.24. Overlapping area represents the amount of variation of Cash that can explain the historical movement of Total Current Liabilities in the same time period over historical financial statements of Paychex, assuming nothing else is changed. The correlation between historical values of Paychex's Cash and Total Current Liabilities is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash of Paychex are associated (or correlated) with its Total Current Liabilities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Current Liabilities has no effect on the direction of Cash i.e., Paychex's Cash and Total Current Liabilities go up and down completely randomly.

Correlation Coefficient

0.24
Relationship DirectionPositive 
Relationship StrengthVery Weak

Cash

Cash refers to the most liquid asset of Paychex, which is listed under current asset account on Paychex balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Paychex customers. The amounts must be unrestricted with restricted cash listed in a different Paychex account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.

Total Current Liabilities

Total Current Liabilities is an item on Paychex balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of Paychex are important to investors because some useful performance ratios such as Current Ratio and Quick Ratio require Total Current Liabilities to be accurate. The total amount of liabilities that a company is expected to pay within one year, including debts, accounts payable, and other short-term financial obligations.
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 Profit3.3B3.6B3.8B4.0B
Total Revenue4.6B5.0B5.3B5.5B

Paychex fundamental ratios Correlations

0.710.730.720.970.75-0.260.940.780.930.740.870.850.080.780.710.960.990.98-0.250.950.650.850.820.810.88
0.710.960.960.560.930.010.490.230.570.180.380.30.710.330.190.560.780.750.210.60.130.410.340.290.45
0.730.961.00.570.9-0.020.510.250.560.250.420.350.720.340.260.580.80.770.20.610.10.420.380.350.46
0.720.961.00.570.89-0.040.50.240.550.240.40.350.710.310.250.580.80.780.240.610.110.410.370.340.45
0.970.560.570.570.64-0.330.980.880.950.850.940.94-0.080.850.80.980.930.93-0.390.940.770.90.890.880.92
0.750.930.90.890.640.10.560.380.720.330.510.450.650.570.340.660.80.73-0.050.670.150.610.520.510.65
-0.260.01-0.02-0.04-0.330.1-0.36-0.52-0.1-0.23-0.3-0.290.31-0.01-0.22-0.29-0.21-0.33-0.15-0.18-0.62-0.15-0.26-0.21-0.08
0.940.490.510.50.980.56-0.360.890.910.870.960.93-0.140.830.810.930.890.9-0.460.910.810.850.840.850.89
0.780.230.250.240.880.38-0.520.890.840.840.90.9-0.340.860.790.850.690.7-0.590.760.820.880.870.890.87
0.930.570.560.550.950.72-0.10.910.840.790.880.89-0.020.950.730.940.90.84-0.520.920.620.970.90.90.99
0.740.180.250.240.850.33-0.230.870.840.790.930.94-0.310.830.980.830.660.67-0.610.780.730.80.810.850.83
0.870.380.420.40.940.51-0.30.960.90.880.930.94-0.190.870.90.910.80.81-0.570.840.740.860.860.890.9
0.850.30.350.350.940.45-0.290.930.90.890.940.94-0.270.880.90.940.780.78-0.530.880.780.920.920.940.92
0.080.710.720.71-0.080.650.31-0.14-0.34-0.02-0.31-0.19-0.27-0.15-0.26-0.060.180.130.37-0.03-0.47-0.14-0.19-0.23-0.09
0.780.330.340.310.850.57-0.010.830.860.950.830.870.88-0.150.780.840.720.65-0.740.80.580.960.870.910.98
0.710.190.260.250.80.34-0.220.810.790.730.980.90.9-0.260.780.790.630.65-0.560.750.640.750.740.810.78
0.960.560.580.580.980.66-0.290.930.850.940.830.910.94-0.060.840.790.920.91-0.310.930.720.920.920.890.92
0.990.780.80.80.930.8-0.210.890.690.90.660.80.780.180.720.630.920.98-0.160.930.560.80.760.750.83
0.980.750.770.780.930.73-0.330.90.70.840.670.810.780.130.650.650.910.98-0.090.910.630.740.730.710.77
-0.250.210.20.24-0.39-0.05-0.15-0.46-0.59-0.52-0.61-0.57-0.530.37-0.74-0.56-0.31-0.16-0.09-0.31-0.35-0.56-0.45-0.57-0.61
0.950.60.610.610.940.67-0.180.910.760.920.780.840.88-0.030.80.750.930.930.91-0.310.70.880.810.860.89
0.650.130.10.110.770.15-0.620.810.820.620.730.740.78-0.470.580.640.720.560.63-0.350.70.650.680.690.62
0.850.410.420.410.90.61-0.150.850.880.970.80.860.92-0.140.960.750.920.80.74-0.560.880.650.930.960.98
0.820.340.380.370.890.52-0.260.840.870.90.810.860.92-0.190.870.740.920.760.73-0.450.810.680.930.890.91
0.810.290.350.340.880.51-0.210.850.890.90.850.890.94-0.230.910.810.890.750.71-0.570.860.690.960.890.94
0.880.450.460.450.920.65-0.080.890.870.990.830.90.92-0.090.980.780.920.830.77-0.610.890.620.980.910.94
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Paychex Account Relationship Matchups

Paychex fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets8.6B9.2B9.6B10.5B10.4B10.9B
Short Long Term Debt Total898.8M897.1M881.2M865.7M885.5M538.8M
Other Current Liab4.3B4.8B5.1B5.6B5.1B2.7B
Total Current Liabilities4.4B4.9B5.3B5.8B5.3B2.9B
Total Stockholder Equity2.8B2.9B3.1B3.5B3.8B4.0B
Property Plant And Equipment Net522.2M498.8M480M457.8M458.6M233.2M
Net Debt(6.4M)(98.1M)511.2M(356.3M)(602.6M)(572.5M)
Retained Earnings1.4B1.4B1.7B2.0B2.2B2.3B
Cash905.2M995.2M370M1.2B1.5B1.5B
Non Current Assets Total3.1B3.1B3.1B3.0B3.1B3.3B
Non Currrent Assets Other59.5M455.3M512.5M535.3M592.1M621.7M
Cash And Short Term Investments932.4M1.0B1.2B1.6B1.5B1.6B
Net Receivables790.3M1.1B1.3B1.4B1.6B1.7B
Common Stock Shares Outstanding361.8M361M362.1M363.1M362.3M300.6M
Liabilities And Stockholders Equity8.6B9.2B9.6B10.5B10.4B10.9B
Non Current Liabilities Total1.3B1.3B1.3B1.2B1.3B1.3B
Other Current Assets244.8M4.1B4.0B4.5B4.1B4.3B
Other Stockholder Equity1.3B1.4B1.5B1.6B1.7B1.8B
Total Liab5.8B6.3B6.6B7.1B6.6B6.9B
Total Current Assets5.5B6.2B6.6B7.5B7.3B7.6B
Accounts Payable79.4M89M105.7M84.7M104.3M109.5M
Property Plant And Equipment Gross522.2M498.8M480M457.8M1.6B1.7B
Accumulated Other Comprehensive Income56.5M51.8M(133.9M)(159.9M)(145.1M)(137.8M)
Other Liab415.1M448.7M451.3M408.3M469.5M493.0M
Current Deferred Revenue39.2M37.9M38.4M47.3M50.2M52.7M
Other Assets397.7M432M455.3M512.5M589.4M618.8M
Good Will1.8B1.8B1.8B1.8B1.9B2.0B
Short Term Investments27.2M36.7M853.9M373.4M33.9M32.2M
Inventory3.9B3.5B3.8B4.2B4.8B5.1B
Intangible Assets330.6M275.8M224.6M187.4M194.5M174.1M
Property Plant Equipment407.4M498.8M480M396.3M455.7M324.8M
Net Tangible Assets659.7M851.5M1.0B1.5B1.3B821.8M
Long Term Debt796.8M797.3M797.7M798.2M798.6M838.5M
Retained Earnings Total Equity1.4B1.4B1.7B2.0B2.3B1.3B
Capital Surpluse1.3B1.4B1.5B1.6B1.9B1.1B
Deferred Long Term Liab240.8M384.1M433.3M112.1M128.9M134.3M

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