• Paychex average return on tangible equity for 2011-11-30 was 0, a 0% decline from 2012-02-29.
• Paychex average return on tangible equity for 2012-02-29 was 0, a 0% decline from 2012-05-31.
• Paychex average return on tangible equity for 2012-05-31 was 0, a 0% decline from 2012-08-31.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.