Paychex, Inc. vs Workday, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
Summary Verdict
PAYX: 4—WDAY: 1wins
Rule of 40
55.9PAYX
33.2WDAY
check_circlePAYX leads
Revenue Growth
21.1%PAYX
13.2%WDAY
check_circlePAYX leads
Gross Margin
74%PAYX
98%WDAY
check_circleWDAY leads
FCF Margin
34.8%PAYX
20.0%WDAY
check_circlePAYX leads
Operating Margin
41.8%PAYX
9.2%WDAY
check_circlePAYX leads
NRR
—PAYX
—WDAY
Metric
Rule of 40Efficiency score
PAYX
55.9check_circle
WDAY
33.2
Revenue GrowthYoY
PAYX
21.1%check_circle
WDAY
13.2%
Gross Margin% of revenue
PAYX
74%
WDAY
98%check_circle
FCF MarginFree cash flow
PAYX
34.8%check_circle
WDAY
20.0%
Operating MarginGAAP
PAYX
41.8%check_circle
WDAY
9.2%
NRRNet retention
PAYX
N/A
WDAY
N/A
EV / RevenueValuation multiple
PAYX
6.0x
WDAY
4.0xcheck_circle
Market CapUSD
PAYX
$38.2Bcheck_circle
WDAY
$36.4B
ARR GrowthYoY
PAYX
N/A
WDAY
N/A
CAC PaybackMonths to recover
PAYX
N/A
WDAY
N/A
insights
Analysis
As of Q1 2026, Paychex, Inc. trades at 6.0x EV/Revenue versus Workday, Inc. at 4.0x. On the Rule of 40, Paychex, Inc. scores 55.9 compared to Workday, Inc.'s 33.2, placing Paychex, Inc. ahead in operating efficiency. Gross margins stand at Paychex, Inc. 74% vs Workday, Inc. 98%.
Sector Context
Both companies operate in the HR Tech sector. The median columns above show where each company stands relative to their peers.