PAYX vs TSM: Which Is the Better Dividend Stock?
As of September 2026, PAYX and TSM are closely matched. PAYX offers the higher yield at 3.91%, PAYX has the higher dividend-safety score, and TSM trades at the larger discount to fair value (+11%).
| Metric | PAYX | TSM |
|---|---|---|
| Forward yield | 3.91% | 0.95% |
| Annual dividend | $4.76 | $4.08 |
| Payout ratio | 91% | 26% |
| Years of growth | 15 yr | 2 yr |
| 5-yr dividend growth | 11.2% | 12.8% |
| 5-yr total return | 8% | 284% |
| Dividend safety score | 83 (A) | 68 (B) |
| Fair value estimate | $99.54 | $475.38 |
| Upside to fair value | -18% | +11% |
| Frequency | quarterly | quarterly |
| Market cap | $43.3B | $2.2T |
| P/E ratio | 24.9 | 31.8 |
Higher yield
PAYX
3.91%
Safer dividend
PAYX
Grade A
Faster growth
TSM
12.8%
Better value
TSM
+11% upside
PAYX vs TSM — FAQ
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