• Paychex average current ratio for 2023 was 1.26, a 1.56% increase from 2022.
• Paychex average current ratio for 2022 was 1.28, a 1.59% decline from 2021.
• Paychex average current ratio for 2021 was 1.26, a 1.61% increase from 2020.

Current ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations.