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Held by 1,444 of 5,944 reporting institutions (99th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 21%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~5.9% on $4.6B of debt.
Cash of $1.1B fully covers short-term debt of $0.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $116.51 today, the market must believe free cash flow compounds 9.8%/yr for a decade (off $1.9B normalized FCF).
The market's 9.8% is more conservative than its 9-yr track record.
2-stage DCF · 0.36B shares · net debt $3.5B
mean 12.6% · volatility σ 16% · implied rate exceeded in 5/9 yrs
Central path = implied 9.8%/yr growth; shaded band = ±1σ (16%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 68% of free cash flow, leaving room to grow it and fund buybacks. Last year: $1.6B dividends + $611M buybacks = $2.2B returned on $2.3B FCF.
9 consecutive years of dividend increases · 10%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 31.2 | 31.7 | 31.3 | 29.4 | 29.0 | 28.0 | 27.6 | 25.7 |
| SG&A | 32.4 | 32.2 | 32.7 | 30.7 | 30.4 | 30.8 | 32.7 | 35.7 |
| Operating Income | 36.3 | 36.1 | 36.0 | 39.9 | 40.6 | 41.2 | 39.6 | 38.6 |
| Income Tax | 8.8 | 8.4 | 8.3 | 9.4 | 9.8 | 10.0 | 9.3 | 8.5 |
| Net Income | — | — | — | 30.2 | 31.1 | 32.0 | 29.7 | 27.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PAYX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2026
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.51B 100.0% | $5.57B 100.0% | $5.28B 100.0% | $5.01B 100.0% | $4.61B 100.0% | $4.06B 100.0% | $4.04B 100.0% | $3.77B 100.0% | $3.38B 100.0% | $3.15B 100.0% |
| Cost of Revenue | $1.67B 25.7% | $1.54B 27.6% | $1.48B 28.0% | $1.45B 29.0% | $1.36B 29.4% | $1.27B 31.3% | $1.28B 31.7% | $1.18B 31.2% | $1.02B 30.1% | — |
| Selling, General & Admin | $2.33B 35.7% | $1.82B 32.7% | $1.62B 30.8% | $1.52B 30.4% | $1.42B 30.7% | $1.32B 32.7% | $1.30B 32.2% | $1.22B 32.4% | $1.07B 31.6% | $979.7M 31.1% |
| Total Operating Expenses | $4.00B 61.4% | $3.36B 60.4% | $3.10B 58.8% | $2.97B 59.4% | $2.77B 60.1% | $2.60B 64.0% | $2.58B 63.9% | $2.40B 63.7% | $2.09B 61.8% | $1.90B 60.2% |
| Operating Income | $2.51B 38.6% | $2.21B 39.6% | $2.17B 41.2% | $2.03B 40.6% | $1.84B 39.9% | $1.46B 36.0% | $1.46B 36.1% | $1.37B 36.3% | $1.29B 38.2% | $1.25B 39.8% |
| Interest Expense | $269.5M 4.1% | $105.4M 1.9% | $37.3M 0.7% | $36.7M 0.7% | $36.6M 0.8% | $35.8M 0.9% | $38.8M 1.0% | $17.6M 0.5% | $3.9M 0.1% | $2.5M 0.1% |
| Other Income (Expense), net | $69.9M 1.1% | $73.6M 1.3% | $81.2M 1.5% | $51.8M 1.0% | $18.3M 0.4% | $7.0M 0.2% | $3.1M 0.1% | $1.0M 0.0% | $600K 0.0% | — |
| Pretax Income | $2.31B 35.5% | $2.18B 39.1% | $2.22B 42.0% | $2.05B 40.9% | $1.82B 39.6% | $1.43B 35.4% | $1.44B 35.6% | $1.37B 36.3% | $1.30B 38.5% | $1.26B 39.9% |
| Income Tax Expense | $550.8M 8.5% | $518.6M 9.3% | $527.6M 10.0% | $490.9M 9.8% | $431.8M 9.4% | $336.7M 8.3% | $339.0M 8.4% | $333.6M 8.8% | $306.0M 9.1% | $432.8M 13.7% |
| Net Income | $1.76B 27.0% | $1.66B 29.7% | $1.69B 32.0% | $1.56B 31.1% | $1.39B 30.2% | — | — | — | — | — |
| Per Share | ||||||||||
| EPS (Basic) | $4.90 | $4.60 | $4.69 | $4.32 | $3.86 | $3.05 | $3.06 | $2.88 | $2.77 | $2.30 |
| EPS (Diluted) | $4.89 | $4.58 | $4.67 | $4.30 | $3.84 | $3.03 | $3.04 | $2.86 | $2.75 | $2.28 |
| Weighted Avg Shares (Basic) | 358.9M | 360.2M | 360.3M | 360.4M | 360.6M | 359.9M | 358.5M | 359.2M | 359.0M | 359.8M |
| Weighted Avg Shares (Diluted) | 360.0M | 362.0M | 362.1M | 362.3M | 363.1M | 362.1M | 361.0M | 361.8M | 361.5M | 362.6M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 651 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTM | $28.75T | — | — | — | — | — | — | — | — | — | 160 |
| CAT | $364.2B | 41.6× | 29.1× | 5.4× | 4.3% | 33.8% | 13.1% | 41.7% | 15.4% | 2.7× | 3,616 |
| GE | $328.2B | 38.4× | — | 7.2× | 18.5% | — | 19.0% | 46.6% | 22.2% | — | 3,077 |
| RTX | $264.2B | 39.7× | 18.8× | 3.0× | 9.7% | — | 7.6% | 10.3% | 10.3% | 0.0× | 3,277 |
| BA | $204.4B | 81.4× | 41.0× | 2.3× | 34.5% | 4.8% | 2.5% | 41.0% | 3.3% | 10.0× | 2,435 |
| DE | $181.0B | 36.2× | — | 4.0× | -11.7% | — | 11.0% | 19.4% | 12.6% | — | 2,491 |
| ABBNY | $174.3B | 47.1× | 31.1× | 5.4× | 9.5% | 34.8% | 11.9% | 28.5% | 20.4% | 0.9× | 48 |
| UNP | $166.7B | 23.4× | 16.0× | 6.8× | 1.1% | — | 29.1% | 38.7% | 14.2% | 2.6× | 2,648 |
| ETN | $154.3B | 38.1× | — | 5.6× | 10.3% | 37.6% | 14.9% | 21.0% | 13.9% | — | 2,398 |
| HON | $131.9B | 28.2× | 16.2× | 3.5× | 7.8% | 36.9% | 12.6% | 34.0% | 9.8% | 3.6× | 2,694 |
| LMT | $123.0B | 25.0× | 16.1× | 1.6× | 5.6% | 10.2% | 6.7% | 74.6% | 17.7% | 2.5× | 2,807 |
| PH | $117.9B | 33.9× | 26.6× | 5.9× | -0.4% | 36.9% | 17.8% | 25.8% | 16.7% | 1.6× | 1,845 |
| ADP | $108.7B | 25.0× | — | 5.0× | 6.7% | 46.4% | 20.1% | 73.2% | 40.1% | — | 2,179 |
| GD | $97.3B | 23.3× | 17.1× | 1.9× | 10.1% | — | 8.0% | 16.4% | 12.5% | 1.3× | 2,123 |
| TT | $94.0B | 32.5× | 23.2× | 4.4× | 7.5% | — | 13.7% | 34.0% | 22.1% | 1.1× | 1,658 |
| PWR | $92.6B | 91.1× | 46.0× | 3.3× | 20.3% | 15.0% | 3.6% | 11.5% | 10.6% | 0.4× | 1,659 |
| VRT | $91.6B | 70.2× | 43.4× | 8.9× | 27.7% | 36.3% | 13.0% | 33.8% | 19.4% | 1.4× | 1,748 |
| JCI | $91.6B | 27.9× | — | 3.9× | 2.8% | 36.4% | 13.9% | 25.5% | 14.4% | — | 1,487 |
| HWM | $91.5B | 61.4× | 40.3× | 11.1× | 11.1% | — | 18.3% | 28.2% | 17.9% | 1.3× | 1,399 |
| CSX | $89.1B | 31.1× | 14.4× | 6.3× | -3.1% | — | 20.5% | 22.0% | 22.0% | — | 1,791 |
| MMM | $86.2B | 27.1× | 16.6× | 3.5× | 1.5% | 39.9% | 13.0% | 69.1% | 18.8% | 2.1× | 2,051 |
| WM | $86.2B | 31.9× | 12.1× | 3.4× | 14.2% | 40.4% | 10.7% | 27.1% | 25.3% | 0.1× | 2,262 |
| UPS | $83.9B | 15.1× | 9.4× | 0.9× | -2.6% | — | 6.3% | 34.3% | 13.8% | 2.2× | 2,025 |
| EMR | $82.1B | 36.1× | — | 4.6× | 3.0% | 52.8% | 12.7% | 11.3% | 6.9% | — | 2,112 |
| CTAS | $80.4B | 45.3× | 28.9× | 7.8× | 7.7% | 50.0% | 17.5% | 38.7% | 25.5% | 0.8× | 1,366 |
| PAYX | $41.5B | 23.9× | 15.2× | 6.4× | 16.9% | 74.3% | 27.0% | 47.1% | 21.2% | 1.5× | 1,444 |
Peers = companies sharing PAYX's sector (Industrials) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.