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PAYX vs. VLTO: Paychex vs. Veralto Stock Comparison

How do Paychex (PAYX) and Veralto (VLTO) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Paychex (PAYX) and Veralto (VLTO) both fall under the Commercial & Professional Services industry group, but PAYX is classified in Professional Services while VLTO is classified in Commercial Services & Supplies.

Paychex (PAYX) has more than two decades of public-market history since August 26, 1983, whereas Veralto (VLTO) listed on October 4, 2023 and has a much shorter record to draw on.

Company profile comparison for Paychex (PAYX) and Veralto (VLTO)
Profile ItemPAYXVLTO
NamePaychex Inc.Veralto Corporation
Country/RegionUnited StatesUnited States
GICS SectorIndustrialsIndustrials
GICS Industry GroupCommercial & Professional ServicesCommercial & Professional Services
GICS IndustryProfessional ServicesCommercial Services & Supplies
GICS Sub-IndustryHuman Resource & Employment ServicesEnvironmental & Facilities Services
Market Capitalization41.67 billion USD28.47 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateAugust 26, 1983October 4, 2023
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

PAYX
VLTO
GSPC
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Paychex (PAYX) vs. Veralto (VLTO), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Paychex (PAYX) and Veralto (VLTO). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Paychex (PAYX) and Veralto (VLTO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
Total Return (1Y)7.76%20.35%
Total Return (3Y, Annualized)4.26%19.78%
Total Return (5Y, Annualized)1.96%--

Risk Profile

Drawdown History

PAYX
VLTO
GSPC
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Paychex (PAYX) vs. Veralto (VLTO), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Paychex (PAYX) and Veralto (VLTO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
Volatility (1Y, Annualized)30.84%24.45%
Beta (5Y)0.790.45
Max Drawdown (5Y)-44.95%-27.09%
Avg. Volume (3M)2.88M1.77M

Risk-Adjusted Performance

Risk-Return Positioning

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PAYX and VLTO are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
Sharpe Ratio (1Y)0.110.66
Sortino Ratio (1Y)0.161.04

Profitability

ROE (TTM)

Both Paychex (PAYX) at 47.06% and Veralto (VLTO) at 32.96% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

PAYX

Commercial & Professional Services industry group

47.06%

PAYX
47.06%
Max
47.06%
Q3
25.43%
Median
14.11%
Q1
3.92%
Min
-20.15%

VLTO

Commercial & Professional Services industry group

32.96%

Max
47.06%
VLTO
32.96%
Q3
25.43%
Median
14.11%
Q1
3.92%
Min
-20.15%
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their ROE against the Commercial & Professional Services industry group benchmark.

Net Margin (TTM)

Paychex (PAYX) at 27.35% keeps the most of each sales dollar — above its industry’s net margin range — and Veralto (VLTO) at 17.27% also retains a top-quartile share.

PAYX

Commercial & Professional Services industry group

27.35%

PAYX
27.35%
Max
23.28%
Q3
11.35%
Median
5.65%
Q1
0.87%
Min
-8.60%

VLTO

Commercial & Professional Services industry group

17.27%

Max
23.28%
VLTO
17.27%
Q3
11.35%
Median
5.65%
Q1
0.87%
Min
-8.60%
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their net margin against the Commercial & Professional Services industry group benchmark.

Operating Margin (TTM)

Both Paychex (PAYX) at 38.50% and Veralto (VLTO) at 19.42% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

PAYX

Commercial & Professional Services industry group

38.50%

PAYX
38.50%
Max
38.50%
Q3
18.84%
Median
10.40%
Q1
5.59%
Min
-12.00%

VLTO

Commercial & Professional Services industry group

19.42%

Max
38.50%
VLTO
19.42%
Q3
18.84%
Median
10.40%
Q1
5.59%
Min
-12.00%
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their operating margin against the Commercial & Professional Services industry group benchmark.

Profitability Metrics

Profitability metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
ROE (TTM)47.06%32.96%
ROA (TTM)10.19%9.96%
Net Margin (TTM)27.35%17.27%
Operating Margin (TTM)38.50%19.42%
Gross Margin (TTM)74.39%59.84%

Growth

Revenue Growth

Paychex (PAYX) at 16.88% sits in the top revenue growth quartile, while Veralto (VLTO) at 5.97% is closer to the peer norm — faster top-line expansion for PAYX.

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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Paychex (PAYX) at 6.77% and Veralto (VLTO) at 12.57% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
Revenue Growth (YoY)16.88%5.97%
Revenue Growth (3Y CAGR)9.15%4.16%
EPS Growth (YoY)6.77%12.57%
EPS Growth (3Y CAGR)4.38%3.16%

Financial Strength

Current Ratio (MRQ)

Both Paychex (PAYX) at 1.28 and Veralto (VLTO) at 2.03 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

PAYX

Commercial & Professional Services industry group

1.28

Max
3.63
Q3
2.14
Median
1.55
PAYX
1.28
Q1
1.09
Min
0.45

VLTO

Commercial & Professional Services industry group

2.03

Max
3.63
Q3
2.14
VLTO
2.03
Median
1.55
Q1
1.09
Min
0.45
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their current ratio against the Commercial & Professional Services industry group benchmark.

Debt / Equity (MRQ)

Both Paychex (PAYX) at 1.25 and Veralto (VLTO) at 0.97 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

PAYX

Commercial & Professional Services industry group

1.25

Max
2.37
Q3
1.25
PAYX
1.25
Median
0.88
Q1
0.35
Min
0.00

VLTO

Commercial & Professional Services industry group

0.97

Max
2.37
Q3
1.25
VLTO
0.97
Median
0.88
Q1
0.35
Min
0.00
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their debt-to-equity ratio against the Commercial & Professional Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
Current Ratio (MRQ)1.282.03
Debt / Equity (MRQ)1.250.97
Net Debt / EBITDA1.200.99

Dividends

Dividend Yield (TTM)

Paychex (PAYX) at 3.80% delivers top-quartile income for its industry, while Veralto (VLTO) at 0.45% pays a more typical yield — both are credible income propositions, PAYX the richer one.

PAYX

Commercial & Professional Services industry group

3.80%

Max
4.33%
PAYX
3.80%
Q3
1.80%
Median
0.60%
Q1
0.00%
Min
0.00%

VLTO

Commercial & Professional Services industry group

0.45%

Max
4.33%
Q3
1.80%
Median
0.60%
VLTO
0.45%
Q1
0.00%
Min
0.00%
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their dividend yield against the Commercial & Professional Services industry group benchmark.

Dividend Payout Ratio (TTM)

Veralto (VLTO) at 12.84% pays out a band-typical share of earnings, while Paychex (PAYX) at 90.08% distributes more than its industry norm — less retained, thinner cover.

PAYX

Commercial & Professional Services industry group

90.08%

Max
99.58%
PAYX
90.08%
Q3
41.99%
Median
17.27%
Q1
0.00%
Min
-17.94%

VLTO

Commercial & Professional Services industry group

12.84%

Max
99.58%
Q3
41.99%
Median
17.27%
VLTO
12.84%
Q1
0.00%
Min
-17.94%
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their payout ratio against the Commercial & Professional Services industry group benchmark.

Dividend Metrics

Dividend metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
Dividend Yield (TTM)3.80%0.45%
Dividend Payout Ratio (TTM)90.08%12.84%

Valuation

P/E Ratio (TTM)

Both Paychex (PAYX) at 23.23 and Veralto (VLTO) at 28.91 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

PAYX

Commercial & Professional Services industry group

23.23

Max
49.47
Q3
33.76
Median
24.16
PAYX
23.23
Q1
16.01
Min
1.89

VLTO

Commercial & Professional Services industry group

28.91

Max
49.47
Q3
33.76
VLTO
28.91
Median
24.16
Q1
16.01
Min
1.89
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their P/E ratio against the Commercial & Professional Services industry group benchmark.

P/S Ratio (TTM)

Both Paychex (PAYX) at 6.31 and Veralto (VLTO) at 4.91 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

PAYX

Commercial & Professional Services industry group

6.31

Max
7.17
PAYX
6.31
Q3
3.35
Median
1.33
Q1
0.69
Min
0.11

VLTO

Commercial & Professional Services industry group

4.91

Max
7.17
VLTO
4.91
Q3
3.35
Median
1.33
Q1
0.69
Min
0.11
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their P/S ratio against the Commercial & Professional Services industry group benchmark.

P/B Ratio (MRQ)

Both Paychex (PAYX) at 11.25 and Veralto (VLTO) at 8.82 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

PAYX

Commercial & Professional Services industry group

11.25

PAYX
11.25
Max
11.25
Q3
6.08
Median
2.92
Q1
1.55
Min
-2.78

VLTO

Commercial & Professional Services industry group

8.82

Max
11.25
VLTO
8.82
Q3
6.08
Median
2.92
Q1
1.55
Min
-2.78
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Paychex (PAYX) vs. Veralto (VLTO): A comparison of their P/B ratio against the Commercial & Professional Services industry group benchmark.

Valuation Metrics

Valuation metrics for Paychex (PAYX) and Veralto (VLTO)
MetricPAYXVLTO
P/E Ratio (TTM)23.2328.91
P/S Ratio (TTM)6.314.91
P/B Ratio (MRQ)11.258.82
Free Cash Flow Yield (TTM)4.53%2.68%