0KGE Stock | | | 141.47 1.22 0.86% |
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 Income Before Tax and its Cost Of Revenue accounts. Check out
Trending Equities 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 board of governors.
For more information on how to buy Paychex Stock please use our
How to Invest in Paychex guide.
Income Before Tax vs Cost Of Revenue
Income Before Tax vs Cost Of Revenue Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Paychex Income Before Tax account and
Cost Of Revenue. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Paychex's Income Before Tax and Cost Of Revenue is 0.97. Overlapping area represents the amount of variation of Income Before Tax that can explain the historical movement of Cost Of Revenue in the same time period over historical financial statements of Paychex, assuming nothing else is changed. The correlation between historical values of Paychex's Income Before Tax and Cost Of Revenue is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Income Before Tax of Paychex are associated (or correlated) with its Cost Of Revenue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cost Of Revenue has no effect on the direction of Income Before Tax i.e., Paychex's Income Before Tax and Cost Of Revenue go up and down completely randomly.
Correlation Coefficient | 0.97 |
Relationship Direction | Positive |
Relationship Strength | Very Strong |
Income Before Tax
Income Before Tax which can also be referred as pre-tax income is reported on Paychex income statement and is an important metric when analyzing Paychex profitability. Accounting techniques because taxes can be complex, and not perfectly consistent from one company to company, an analyst may use pre-tax income as a more stable measure of profitability.
Cost Of Revenue
Cost of Revenue is found on Paychex income statement and represents the costs associated with goods and services Paychex provides. Indirect cost, such as salaries, is not included. In other words, cost of revenue is the total cost incurred to obtain a sale. It is more than the traditional cost of goods sold, since it includes specific selling and marketing activities.
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
Trending Equities 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 board of governors.
For more information on how to buy Paychex Stock please use our
How to Invest in Paychex guide.
Selling General Administrative is likely to gain to about 1.8
B in 2024, whereas
Tax Provision is likely to drop slightly above 292.8
M in 2024.
Paychex fundamental ratios Correlations
Click cells to compare fundamentals
Paychex Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Paychex fundamental ratios Accounts
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.
Additional Tools for Paychex Stock Analysis
When running Paychex's price analysis, check to
measure Paychex's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Paychex is operating at the current time. Most of Paychex's value examination focuses on studying past and present price action to
predict the probability of Paychex's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Paychex's price. Additionally, you may evaluate how the addition of Paychex to your portfolios can decrease your overall portfolio volatility.