Paychex Interest Expense vs Income Before Tax Analysis

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 Interest Expense and its Income Before Tax 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.

Interest Expense vs Income Before Tax

Interest Expense vs Income Before Tax Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Paychex Interest Expense account and Income Before Tax. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Paychex's Interest Expense and Income Before Tax is 0.8. Overlapping area represents the amount of variation of Interest Expense that can explain the historical movement of Income Before Tax in the same time period over historical financial statements of Paychex, assuming nothing else is changed. The correlation between historical values of Paychex's Interest Expense and Income Before Tax is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Interest Expense of Paychex are associated (or correlated) with its Income Before Tax. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Income Before Tax has no effect on the direction of Interest Expense i.e., Paychex's Interest Expense and Income Before Tax go up and down completely randomly.

Correlation Coefficient

0.8
Relationship DirectionPositive 
Relationship StrengthStrong

Interest Expense

The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit.

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.
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.
 2021 2022 2023 2024 (projected)
Total Revenue4.6B5.0B5.3B5.5B
Depreciation And Amortization191.8M176.6M176.5M185.3M

Paychex fundamental ratios Correlations

0.710.70.720.970.75-0.260.940.780.930.80.870.850.080.780.580.960.990.98-0.220.950.820.780.64-0.560.72
0.710.960.960.560.930.010.490.230.570.270.380.30.710.330.930.560.780.750.270.60.340.790.40.020.47
0.70.961.00.540.88-0.040.480.210.520.240.370.320.720.280.960.560.780.760.310.590.340.790.350.050.46
0.720.961.00.570.89-0.040.50.240.550.270.40.350.710.310.950.580.80.780.280.610.370.80.370.030.48
0.970.560.540.570.64-0.330.980.880.950.890.940.94-0.080.850.40.980.930.93-0.380.940.890.670.64-0.680.75
0.750.930.880.890.640.10.560.380.720.480.510.450.650.570.770.660.80.730.040.670.520.610.630.040.72
-0.260.01-0.04-0.04-0.330.1-0.36-0.52-0.1-0.13-0.3-0.290.31-0.01-0.1-0.29-0.21-0.33-0.07-0.18-0.26-0.360.180.620.12
0.940.490.480.50.980.56-0.360.890.910.890.960.93-0.140.830.340.930.890.9-0.470.910.840.640.57-0.710.7
0.780.230.210.240.880.38-0.520.890.840.910.90.9-0.340.860.050.850.690.7-0.580.760.870.360.62-0.730.71
0.930.570.520.550.950.72-0.10.910.840.930.880.89-0.020.950.350.940.90.84-0.450.920.90.530.84-0.520.88
0.80.270.240.270.890.48-0.130.890.910.930.930.96-0.250.980.020.880.720.68-0.70.830.910.280.75-0.60.87
0.870.380.370.40.940.51-0.30.960.90.880.930.94-0.190.870.190.910.80.81-0.60.840.860.470.56-0.650.75
0.850.30.320.350.940.45-0.290.930.90.890.960.94-0.270.880.120.940.780.78-0.560.880.920.430.62-0.70.78
0.080.710.720.71-0.080.650.31-0.14-0.34-0.02-0.25-0.19-0.27-0.150.71-0.060.180.130.43-0.03-0.190.260.070.640.18
0.780.330.280.310.850.57-0.010.830.860.950.980.870.88-0.150.070.840.720.65-0.680.810.870.240.86-0.470.92
0.580.930.960.950.40.77-0.10.340.050.350.020.190.120.710.070.410.680.680.510.460.160.840.180.070.21
0.960.560.560.580.980.66-0.290.930.850.940.880.910.94-0.060.840.410.920.91-0.30.930.920.650.65-0.630.76
0.990.780.780.80.930.8-0.210.890.690.90.720.80.780.180.720.680.920.98-0.120.930.760.830.62-0.480.69
0.980.750.760.780.930.73-0.330.90.70.840.680.810.780.130.650.680.910.98-0.090.910.730.880.49-0.550.59
-0.220.270.310.28-0.380.04-0.07-0.47-0.58-0.45-0.7-0.6-0.560.43-0.680.51-0.3-0.12-0.09-0.31-0.40.31-0.410.33-0.55
0.950.60.590.610.940.67-0.180.910.760.920.830.840.88-0.030.810.460.930.930.91-0.310.810.710.65-0.630.72
0.820.340.340.370.890.52-0.260.840.870.90.910.860.92-0.190.870.160.920.760.73-0.40.810.390.72-0.610.8
0.780.790.790.80.670.61-0.360.640.360.530.280.470.430.260.240.840.650.830.880.310.710.390.18-0.460.2
0.640.40.350.370.640.630.180.570.620.840.750.560.620.070.860.180.650.620.49-0.410.650.720.18-0.180.88
-0.560.020.050.03-0.680.040.62-0.71-0.73-0.52-0.6-0.65-0.70.64-0.470.07-0.63-0.48-0.550.33-0.63-0.61-0.46-0.18-0.18
0.720.470.460.480.750.720.120.70.710.880.870.750.780.180.920.210.760.690.59-0.550.720.80.20.88-0.18
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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 Liab4.3B4.8B5.1B5.6B5.1B2.8B
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 Other432M455.3M512.5M535.3M592.1M621.7M
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 Assets3.7B4.1B4.0B4.5B4.1B2.8B
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
Accumulated Other Comprehensive Income56.5M51.8M(133.9M)(159.9M)(145.1M)(137.8M)
Current Deferred Revenue39.2M37.9M38.4M47.3M50.2M52.7M
Inventory3.9B3.5B3.8B4.2B4.8B5.1B
Intangible Assets330.6M275.8M224.6M187.4M194.5M174.1M
Good Will1.8B1.8B1.8B1.8B1.9B952.2M
Short Term Investments27.2M36.7M853.9M373.4M33.9M32.2M
Other Assets377.4M1.0432M455.3M1.151.09
Capital Surpluse1.1B1.2B1.3B1.4B1.7B1.3B
Property Plant Equipment408.7M522.2M498.8M480M552M484.1M
Other Liab415.1M448.7M451.3M408.3M469.5M436.8M
Net Tangible Assets437.8M659.7M851.5M1.0B926.2M700.7M
Deferred Long Term Liab366.3M372.5M384.1M433.3M498.3M421.8M

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