PAYX vs. SAM

Last updated Jun 4, 2026

PAYX (Paychex, Inc.) and SAM (The Boston Beer Company, Inc.) are both stocks. PAYX operates in Staffing & Employment Services (Industrials), while SAM operates in Beverages - Brewers (Consumer Defensive). Over the past 10 years, PAYX returned 9.37%/yr vs 0.61%/yr for SAM. At a 0.23 correlation, their price movements are largely independent.

Performance

PAYX vs. SAM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Paychex, Inc. (PAYX) and The Boston Beer Company, Inc. (SAM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAYX achieves a -10.19% return, which is significantly higher than SAM's -16.08% return. Over the past 10 years, PAYX has outperformed SAM with an annualized return of 9.37%, while SAM has yielded a comparatively lower 0.61% annualized return.

PAYX

• 1D: -2.32%
• 1M: 7.82%
• YTD: -10.19%
• 6M: -11.14%
• 1Y: -35.23%
• 3Y*: -0.47%
• 5Y*: 2.22%
• 10Y*: 9.37%

SAM

• 1D: 0.81%
• 1M: -20.95%
• YTD: -16.08%
• 6M: -18.47%
• 1Y: -27.01%
• 3Y*: -21.82%
• 5Y*: -31.76%
• 10Y*: 0.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PAYX vs. SAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAYX Paychex, Inc.	-10.19%	-17.49%	21.31%	6.21%	-13.16%	50.16%	13.25%	34.53%	-1.08%	15.41%
SAM The Boston Beer Company, Inc.	-16.08%	-34.95%	-13.20%	4.88%	-34.76%	-49.20%	163.14%	56.89%	26.03%	12.51%

Correlation

The correlation between PAYX and SAM is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Nov 22, 1995	0.23

Fundamentals

Market Cap PAYX : $35.50B SAM : $1.71B
EPS PAYX : $4.53 SAM : -$5.70
PS Ratio PAYX : 5.61 SAM : 0.84
PB Ratio PAYX : 8.85 SAM : 2.51
Total Revenue (TTM) PAYX : $6.33B SAM : $2.09B
Gross Profit (TTM) PAYX : $4.68B SAM : $947.28M
EBITDA (TTM) PAYX : $2.09B SAM : $23.70M

Return for Risk

PAYX vs. SAM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAYX

PAYX Risk / Return Rank: 6
PAYX Sharpe Ratio Rank: 1
PAYX Sortino Ratio Rank: 3
PAYX Omega Ratio Rank: 4
PAYX Calmar Ratio Rank: 11
PAYX Martin Ratio Rank: 13

SAM

SAM Risk / Return Rank: 10
SAM Sharpe Ratio Rank: 10
SAM Sortino Ratio Rank: 12
SAM Omega Ratio Rank: 14
SAM Calmar Ratio Rank: 14
SAM Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PAYX vs. SAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Paychex, Inc. (PAYX) and The Boston Beer Company, Inc. (SAM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PAYX	SAM	Difference
Sharpe ratio Return per unit of total volatility	-1.33	-0.74	-0.59
Sortino ratio Return per unit of downside risk	-1.91	-0.91	-0.99
Omega ratio Gain probability vs. loss probability	0.77	0.90	-0.13
Calmar ratio Return relative to maximum drawdown	-0.79	-0.72	-0.06
Martin ratio Return relative to average drawdown	-1.23	-2.15	+0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAYX vs. SAM - Sharpe Ratio Comparison

The current PAYX Sharpe Ratio is -1.33, which is lower than the SAM Sharpe Ratio of -0.74. The chart below compares the historical Sharpe Ratios of PAYX and SAM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PAYX	SAM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.33	-0.74	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	-0.80	+0.90
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.01	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.16	+0.38

Drawdowns

PAYX vs. SAM - Drawdown Comparison

The maximum PAYX drawdown since its inception was -64.85%, smaller than the maximum SAM drawdown of -87.57%. Use the drawdown chart below to compare losses from any high point for PAYX and SAM.

Drawdown Indicators

	PAYX	SAM	Difference
Max Drawdown Largest peak-to-trough decline	-64.85%	-87.57%	+22.72%
Max Drawdown (1Y) Largest decline over 1 year	-44.95%	-37.54%	-7.41%
Max Drawdown (3Y) Largest decline over 3 years	-44.95%	-58.74%	+13.79%
Max Drawdown (5Y) Largest decline over 5 years	-44.95%	-85.32%	+40.37%
Max Drawdown (10Y) Largest decline over 10 years	-44.95%	-87.57%	+42.62%
Current Drawdown Current decline from peak	-35.85%	-87.47%	+51.62%
Average Drawdown Average peak-to-trough decline	-17.95%	-40.69%	+22.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.77%	12.56%	+16.21%

Volatility

PAYX vs. SAM - Volatility Comparison

The current volatility for Paychex, Inc. (PAYX) is 9.97%, while The Boston Beer Company, Inc. (SAM) has a volatility of 11.42%. This indicates that PAYX experiences smaller price fluctuations and is considered to be less risky than SAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAYX	SAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.97%	11.42%	-1.45%
Volatility (6M) Calculated over the trailing 6-month period	20.75%	27.81%	-7.06%
Volatility (1Y) Calculated over the trailing 1-year period	26.62%	36.69%	-10.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.72%	39.76%	-16.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.24%	40.76%	-15.52%

Dividends

PAYX vs. SAM - Dividend Comparison

PAYX's dividend yield for the trailing twelve months is around 4.50%, while SAM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAYX Paychex, Inc.	4.50%	3.76%	2.73%	2.90%	2.62%	1.90%	2.66%	2.85%	3.35%	2.82%	2.89%	3.03%
SAM The Boston Beer Company, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

PAYX vs. SAM - Profitability Comparison

The chart below illustrates the profitability comparison between Paychex, Inc. and The Boston Beer Company, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PAYX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Paychex, Inc. reported a gross profit of 1.38B and revenue of 1.81B. Therefore, the gross margin over that period was 76.2%.

SAM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Boston Beer Company, Inc. reported a gross profit of 213.96M and revenue of 461.58M. Therefore, the gross margin over that period was 46.4%.

PAYX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Paychex, Inc. reported an operating income of 792.00M and revenue of 1.81B, resulting in an operating margin of 43.8%.

SAM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Boston Beer Company, Inc. reported an operating income of -190.46M and revenue of 461.58M, resulting in an operating margin of -41.3%.

PAYX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Paychex, Inc. reported a net income of 560.30M and revenue of 1.81B, resulting in a net margin of 31.0%.

SAM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Boston Beer Company, Inc. reported a net income of -145.26M and revenue of 461.58M, resulting in a net margin of -31.5%.

Frequently Asked Questions

Can I hold both PAYX and SAM in my portfolio?

PAYX and SAM have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAYX or SAM?

SAM has higher volatility (11.42%) compared to PAYX (9.97%). In terms of maximum drawdown, PAYX dropped -64.85% vs SAM's -87.57%.

Which has better risk-adjusted returns?

SAM currently has the higher Sharpe Ratio (-0.74 vs -1.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.