• Paychex average debt/equity ratio for 2024 was 0.21, a 8.7% decline from 2023.
• Paychex average debt/equity ratio for 2023 was 0.23, a 8% decline from 2022.
• Paychex average debt/equity ratio for 2022 was 0.25, a 7.41% decline from 2021.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.