Paychex, Inc.
PAYXTechnology · Stock · quarterly payer
Forward Yield
3.84%
Annual Dividend
$4.76
Payout Ratio
91%
5-Yr Growth
11.2%
Ex-Date
Jul 28, 2026
Frequency
Quarterly
Summary
As of September 2026, Paychex, Inc. (PAYX) yields 3.84% ($4.76 per share annually), with a blended fair-value estimate of $99.81 — -21% downside, so it screens as overvalued. Dividend safety grade: A (83/100). 15 years of dividend growth.
Is PAYX a good dividend stock?
YesPaychex, Inc. (PAYX) pays a quarterly dividend yielding 3.84% ($4.76/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 15 consecutive years of dividend growth
- Never cut its dividend on record
- Strong 11.2% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Elevated payout ratio (91%)
Key Data
- Dividend Yield
- 3.84%
- Payout Ratio
- 91%
- Annual Dividend
- $4.76
- 5-Yr Avg Growth
- 11.2%
- Ex-Dividend Date
- Jul 28, 2026
- Years of Growth
- 15
- Frequency
- quarterly
- Beta
- —
- Market Cap
- $44.5B
- P/E Ratio
- 25.4
- 5-Yr Total Return
- 13%
- 52-Week Range
- $85.45 – $139.06
- Dividend Safety
- A · 83/100
- Ever Cut?
- No
Frequently Asked Questions
PAYX Price — Last 12 Months
Daily close
Price Return
1 Year
+0%
3 Years
+10%
5 Years
+13%
52-Week Range
$85.45 – $139.06
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PAYX worth?
Overvaluedhigh confidenceOur blended fair-value estimate for Paychex, Inc. is $99.81 per share, versus a market price of $127.04. That implies 21% of downside.
Fair Value
$99.81
Current Price
$127.04
Downside
-21%
Margin of Safety
-27%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 14.8% annual free-cash-flow growth. We model 8.5% — so the price already assumes faster growth than we think is likely.
Assumptions: 9.3% discount rate (CAPM), 8.5% stage-1 growth, 2.5% terminal growth, $4.92 EPS, $4.76 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PAYX Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 28, 2026 | — | $1.1900 | regular |
| May 13, 2026 | — | $1.1900 | regular |
| Jan 28, 2026 | — | $1.0800 | regular |
| Nov 7, 2025 | — | $1.0800 | regular |
| Jul 21, 2025 | — | $1.0800 | regular |
| May 12, 2025 | — | $1.0800 | regular |
| Feb 7, 2025 | — | $0.9800 | regular |
| Nov 7, 2024 | — | $0.9800 | regular |
| Aug 8, 2024 | — | $0.9800 | regular |
| May 9, 2024 | — | $0.9800 | regular |
| Feb 12, 2024 | — | $0.8900 | regular |
| Nov 13, 2023 | — | $0.8900 | regular |
| Aug 9, 2023 | — | $0.8900 | regular |
| May 10, 2023 | — | $0.8900 | regular |
Income Calculator
At $4.76 / yr per share
