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Side-by-side financial comparison of Paychex (PAYX) and Transocean Ltd. (RIG). Click either name above to swap in a different company.
Paychex is the larger business by last-quarter revenue ($1.5B vs $1.0B, roughly 1.4× Transocean Ltd.). Paychex runs the higher net margin — 26.3% vs 2.4%, a 23.9% gap on every dollar of revenue. On growth, Paychex posted the faster year-over-year revenue change (17.4% vs 9.6%). Paychex produced more free cash flow last quarter ($382.8M vs $321.0M). Over the past eight quarters, Transocean Ltd.'s revenue compounded faster (16.9% CAGR vs 3.8%).
Paychex, Inc. is an American company that provides human resources, payroll, and employee benefits outsourcing services for small- to medium-sized businesses. Founded in 1971 and headquartered in Rochester, New York, the company has more than 100 offices serving approximately 800,000 payroll clients in the U.S. and Europe. Paychex is ranked 681st on the Fortune 500 list of largest corporations by revenue.
Transocean Ltd. is an American drilling company. It is the world's largest offshore drilling contractor based on revenue and is based in Steinhausen, Switzerland. The company has offices in 20 countries, including Canada, the United States, Norway, United Kingdom, India, Brazil, Singapore, Indonesia, and Malaysia.
PAYX vs RIG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.0B |
| Net Profit | $395.4M | $25.0M |
| Gross Margin | 72.6% | 42.0% |
| Operating Margin | 38.0% | 23.0% |
| Net Margin | 26.3% | 2.4% |
| Revenue YoY | 17.4% | 9.6% |
| Net Profit YoY | -4.4% | 257.1% |
| EPS (diluted) | $1.10 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.5B | $1.0B | ||
| Q2 25 | $1.4B | $988.0M | ||
| Q1 25 | $1.5B | $906.0M | ||
| Q4 24 | $1.3B | $952.0M | ||
| Q3 24 | $1.3B | $948.0M | ||
| Q2 24 | $1.3B | $861.0M | ||
| Q1 24 | $1.4B | $763.0M |
| Q4 25 | $395.4M | $25.0M | ||
| Q3 25 | $383.8M | $-1.9B | ||
| Q2 25 | $297.2M | $-938.0M | ||
| Q1 25 | $519.3M | $-79.0M | ||
| Q4 24 | $413.4M | $7.0M | ||
| Q3 24 | $427.4M | $-494.0M | ||
| Q2 24 | $379.9M | $-123.0M | ||
| Q1 24 | $498.6M | $98.0M |
| Q4 25 | 72.6% | 42.0% | ||
| Q3 25 | 72.3% | 43.2% | ||
| Q2 25 | 71.5% | 39.4% | ||
| Q1 25 | 73.6% | 31.8% | ||
| Q4 24 | 70.4% | 39.2% | ||
| Q3 24 | 70.3% | 40.6% | ||
| Q2 24 | 70.1% | 38.0% | ||
| Q1 24 | 72.8% | 31.5% |
| Q4 25 | 38.0% | 23.0% | ||
| Q3 25 | 36.3% | -163.1% | ||
| Q2 25 | 31.2% | -97.6% | ||
| Q1 25 | 47.2% | 7.1% | ||
| Q4 24 | 42.0% | 13.7% | ||
| Q3 24 | 42.7% | -51.2% | ||
| Q2 24 | 38.3% | -6.9% | ||
| Q1 24 | 46.6% | -0.4% |
| Q4 25 | 26.3% | 2.4% | ||
| Q3 25 | 25.7% | -187.1% | ||
| Q2 25 | 21.5% | -94.9% | ||
| Q1 25 | 35.4% | -8.7% | ||
| Q4 24 | 32.3% | 0.7% | ||
| Q3 24 | 33.4% | -52.1% | ||
| Q2 24 | 30.2% | -14.3% | ||
| Q1 24 | 35.7% | 12.8% |
| Q4 25 | $1.10 | $0.13 | ||
| Q3 25 | $1.06 | $-2.00 | ||
| Q2 25 | $0.83 | $-1.06 | ||
| Q1 25 | $1.43 | $-0.11 | ||
| Q4 24 | $1.14 | $-0.14 | ||
| Q3 24 | $1.18 | $-0.58 | ||
| Q2 24 | $1.05 | $-0.15 | ||
| Q1 24 | $1.38 | $0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5B | $620.0M |
| Total DebtLower is stronger | $5.0B | $5.2B |
| Stockholders' EquityBook value | $3.9B | $8.1B |
| Total Assets | $16.5B | $15.6B |
| Debt / EquityLower = less leverage | 1.28× | 0.64× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $620.0M | ||
| Q3 25 | $1.7B | $833.0M | ||
| Q2 25 | $1.7B | $377.0M | ||
| Q1 25 | $1.6B | $263.0M | ||
| Q4 24 | $1.2B | $560.0M | ||
| Q3 24 | $1.5B | $435.0M | ||
| Q2 24 | $1.5B | $475.0M | ||
| Q1 24 | $1.7B | $446.0M |
| Q4 25 | $5.0B | $5.2B | ||
| Q3 25 | $5.0B | $4.8B | ||
| Q2 25 | $4.9B | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | $798.6M | $6.8B | ||
| Q1 24 | — | $6.8B |
| Q4 25 | $3.9B | $8.1B | ||
| Q3 25 | $4.0B | $8.1B | ||
| Q2 25 | $4.1B | $9.4B | ||
| Q1 25 | $4.1B | $10.2B | ||
| Q4 24 | $3.9B | $10.3B | ||
| Q3 24 | $3.9B | $10.2B | ||
| Q2 24 | $3.8B | $10.7B | ||
| Q1 24 | $3.7B | $10.5B |
| Q4 25 | $16.5B | $15.6B | ||
| Q3 25 | $16.7B | $16.2B | ||
| Q2 25 | $16.6B | $17.8B | ||
| Q1 25 | $11.2B | $19.0B | ||
| Q4 24 | $10.6B | $19.4B | ||
| Q3 24 | $10.5B | $19.5B | ||
| Q2 24 | $10.4B | $20.3B | ||
| Q1 24 | $13.0B | $19.9B |
| Q4 25 | 1.28× | 0.64× | ||
| Q3 25 | 1.25× | 0.60× | ||
| Q2 25 | 1.20× | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | 0.21× | 0.63× | ||
| Q1 24 | — | 0.65× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $444.9M | $349.0M |
| Free Cash FlowOCF − Capex | $382.8M | $321.0M |
| FCF MarginFCF / Revenue | 25.5% | 30.8% |
| Capex IntensityCapex / Revenue | 4.1% | 2.7% |
| Cash ConversionOCF / Net Profit | 1.13× | 13.96× |
| TTM Free Cash FlowTrailing 4 quarters | $2.0B | $626.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.9M | $349.0M | ||
| Q3 25 | $718.4M | $246.0M | ||
| Q2 25 | $343.8M | $128.0M | ||
| Q1 25 | $716.0M | $26.0M | ||
| Q4 24 | $295.0M | $206.0M | ||
| Q3 24 | $546.1M | $194.0M | ||
| Q2 24 | $221.7M | $133.0M | ||
| Q1 24 | $671.7M | $-86.0M |
| Q4 25 | $382.8M | $321.0M | ||
| Q3 25 | $662.5M | $235.0M | ||
| Q2 25 | $283.3M | $104.0M | ||
| Q1 25 | $667.3M | $-34.0M | ||
| Q4 24 | $248.0M | $177.0M | ||
| Q3 24 | $510.5M | $136.0M | ||
| Q2 24 | $180.4M | $49.0M | ||
| Q1 24 | $631.0M | $-169.0M |
| Q4 25 | 25.5% | 30.8% | ||
| Q3 25 | 44.4% | 22.9% | ||
| Q2 25 | 20.5% | 10.5% | ||
| Q1 25 | 45.5% | -3.8% | ||
| Q4 24 | 19.4% | 18.6% | ||
| Q3 24 | 39.9% | 14.3% | ||
| Q2 24 | 14.4% | 5.7% | ||
| Q1 24 | 45.2% | -22.1% |
| Q4 25 | 4.1% | 2.7% | ||
| Q3 25 | 3.7% | 1.1% | ||
| Q2 25 | 4.4% | 2.4% | ||
| Q1 25 | 3.3% | 6.6% | ||
| Q4 24 | 3.7% | 3.0% | ||
| Q3 24 | 2.8% | 6.1% | ||
| Q2 24 | 3.3% | 9.8% | ||
| Q1 24 | 2.9% | 10.9% |
| Q4 25 | 1.13× | 13.96× | ||
| Q3 25 | 1.87× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 0.71× | 29.43× | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 1.35× | -0.88× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
