Paychex, Inc. vs Workday, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
Summary Verdict
PAYX: 3—WDAY: 2wins
Rule of 40
51.5PAYX
37.2WDAY
check_circlePAYX leads
Revenue Growth
17.0%PAYX
18.1%WDAY
check_circleWDAY leads
Gross Margin
73%PAYX
98%WDAY
check_circleWDAY leads
FCF Margin
34.5%PAYX
19.2%WDAY
check_circlePAYX leads
Operating Margin
39.9%PAYX
11.6%WDAY
check_circlePAYX leads
NRR
—PAYX
—WDAY
Metric
Rule of 40Efficiency score
PAYX
51.5check_circle
WDAY
37.2
Revenue GrowthYoY
PAYX
17.0%
WDAY
18.1%check_circle
Gross Margin% of revenue
PAYX
73%
WDAY
98%check_circle
FCF MarginFree cash flow
PAYX
34.5%check_circle
WDAY
19.2%
Operating MarginGAAP
PAYX
39.9%check_circle
WDAY
11.6%
NRRNet retention
PAYX
N/A
WDAY
N/A
EV / RevenueValuation multiple
PAYX
6.8x
WDAY
4.8xcheck_circle
Market CapUSD
PAYX
$39.7B
WDAY
$46.0Bcheck_circle
ARR GrowthYoY
PAYX
N/A
WDAY
N/A
CAC PaybackMonths to recover
PAYX
N/A
WDAY
N/A
insights
Analysis
As of Q3 2026, Paychex, Inc. trades at 6.8x EV/Revenue versus Workday, Inc. at 4.8x. On the Rule of 40, Paychex, Inc. scores 51.5 compared to Workday, Inc.'s 37.2, placing Paychex, Inc. ahead in operating efficiency. Gross margins stand at Paychex, Inc. 73% 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.