PAYX · Paychex Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.81B | $1.56B | $1.54B | $1.32B | $1.51B | $1.32B | $1.26B | $1.44B | $1.29B | $1.19B |
| Cost of Revenue | $431.20M | $412.20M | $413.80M | $379.10M | $387.40M | $380.00M | $364.10M | $379.80M | $360.20M | $359.30M |
| Gross Profit | $1.38B | $1.15B | $1.13B | $937.80M | $1.12B | $938.50M | $893.80M | $1.06B | $925.80M | $831.00M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $585.70M | $573.50M | $584.30M | $399.70M | $429.80M | $391.80M | $387.60M | $409.70M | $389.50M | $358.70M |
| Total Operating Expenses | $1.02B | $985.70M | $998.10M | $778.80M | $817.20M | $771.80M | $751.70M | $789.50M | $749.70M | $718.00M |
| D&A | $36.20M | $34.80M | $109.30M | $29.30M | $30.30M | $39.00M | $32.00M | $32.30M | $41.20M | $31.70M |
| Operating Income | $792.00M | $571.90M | $541.90M | $538.10M | $691.80M | $546.70M | $506.20M | $649.80M | $536.30M | $472.30M |
| Interest Expense | $22.60M | $9.50M | $9.60M | $9.50M | $22.60M | $9.60M | $8.50M | $9.90M | $9.40M | $9.20M |
| Income Tax | $178.70M | $124.80M | $113.70M | $130.30M | $166.50M | $129.70M | $125.20M | $160.60M | $129.90M | $114.90M |
| Net Income | $560.30M | $395.40M | $383.80M | $413.40M | $519.30M | $427.40M | $392.70M | $498.60M | $419.20M | $360.30M |
| EPS - Basic | $1.56 | $1.10 | $1.07 | $1.15 | $1.44 | $1.19 | $1.09 | $1.39 | $1.16 | $1.00 |
| EPS - Diluted | $1.56 | $1.10 | $1.06 | $1.14 | $1.43 | $1.18 | $1.08 | $1.38 | $1.16 | $0.99 |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.74B | $1.49B | $809.00M | $1.63B | $1.56B | $1.46B | $1.47B | $1.69B | $1.65B | $1.22B |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $132.40M | $137.60M | $120.60M | $129.80M | $118.70M | $80.90M | $104.30M | $94.00M | $95.30M | $84.70M |
| Current Assets | $9.93B | $8.91B | $9.04B | $8.92B | $8.08B | $7.36B | $7.25B | $9.89B | $9.09B | $7.53B |
| Total Assets | $17.51B | $16.52B | $16.66B | $16.56B | $11.22B | $10.49B | $10.38B | $13.02B | $12.20B | $10.55B |
| Current Liabilities | $7.88B | $7.04B | $7.13B | $6.96B | $5.80B | $5.34B | $5.31B | $8.00B | $7.34B | $5.81B |
| Long-term Debt | $4.55B | $4.55B | $4.55B | $4.55B | $799.00M | $798.70M | $798.60M | $798.50M | $798.30M | $798.20M |
| Total Liabilities | $13.50B | $12.64B | $12.69B | $12.44B | $7.11B | $6.64B | $6.58B | $9.28B | $8.61B | $7.05B |
| Stockholders' Equity | $4.01B | $3.88B | $3.97B | $4.13B | $4.12B | $3.85B | $3.80B | $3.75B | $3.59B | $3.49B |
| Retained Earnings | $2.05B | $1.95B | $2.07B | $2.28B | $2.39B | $2.17B | $2.21B | $2.19B | $2.10B | $2.02B |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $718.40M | - | - | $546.10M | - | - | $655.80M | - |
| Investing Cash Flow | - | - | ($1.30B) | - | - | ($110.00M) | - | - | $24.00M | - |
| Financing Cash Flow | - | - | ($515.40M) | - | - | ($485.00M) | - | - | $1.07B | - |
| CapEx | - | - | $55.90M | - | - | $35.60M | - | - | $38.70M | - |
| Free Cash Flow | - | - | $662.50M | - | - | $510.50M | - | - | $617.10M | - |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 76.2% | 73.5% | 73.1% | 71.2% | 74.3% | 71.2% | 71.1% | 73.6% | 72.0% | 69.8% |
| Operating margin | 43.8% | 36.7% | 35.2% | 40.9% | 45.8% | 41.5% | 40.2% | 45.1% | 41.7% | 39.7% |
| EBITDA margin | 45.8% | 39.0% | 42.3% | 43.1% | 47.9% | 44.4% | 42.8% | 47.4% | 44.9% | 42.3% |
| Net margin | 31.0% | 25.4% | 24.9% | 31.4% | 34.4% | 32.4% | 31.2% | 34.6% | 32.6% | 30.3% |
| Free cash flow margin | - | - | 43.0% | - | - | 38.7% | - | - | 48.0% | - |
| FCF / Net income | - | - | 1.73 | - | - | 1.19 | - | - | 1.47 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 32.4% | 36.8% | 37.9% | 30.4% | 28.5% | 29.7% | 30.8% | 28.5% | 30.3% | 30.1% |
| Effective tax rate | 24.2% | 24.0% | 22.9% | 24.0% | 24.3% | 23.3% | 24.2% | 24.4% | 23.7% | 24.2% |
| Return on assets | 3.2% | 2.4% | 2.3% | 2.5% | 4.6% | 4.1% | 3.8% | 3.8% | 3.4% | 3.4% |
| Return on equity | 14.0% | 10.2% | 9.7% | 10.0% | 12.6% | 11.1% | 10.3% | 13.3% | 11.7% | 10.3% |
| Return on invested capital | 7.0% | 5.2% | 4.9% | 4.7% | 10.7% | 9.0% | 8.3% | 10.8% | 9.3% | 8.3% |
| Liquidity | ||||||||||
| Current ratio | 1.26 | 1.27 | 1.27 | 1.28 | 1.39 | 1.38 | 1.37 | 1.24 | 1.24 | 1.30 |
| Quick ratio | 1.26 | 1.27 | 1.27 | 1.28 | 1.39 | 1.38 | 1.37 | 1.24 | 1.24 | 1.30 |
| Cash ratio | 0.22 | 0.21 | 0.11 | 0.23 | 0.27 | 0.27 | 0.28 | 0.21 | 0.22 | 0.21 |
| Leverage | ||||||||||
| Debt / Equity | 1.13 | 1.17 | 1.15 | 1.10 | 0.19 | 0.21 | 0.21 | 0.21 | 0.22 | 0.23 |
| Debt / Assets | 0.26 | 0.28 | 0.27 | 0.27 | 0.07 | 0.08 | 0.08 | 0.06 | 0.07 | 0.08 |
| Debt / EBITDA | 5.50 | 7.50 | 6.99 | 8.02 | 1.11 | 1.36 | 1.48 | 1.17 | 1.38 | 1.58 |
| Interest coverage | 35.0x | 60.2x | 56.4x | 56.6x | 30.6x | 56.9x | 59.6x | 65.6x | 57.1x | 51.3x |
| Equity multiplier | 4.36 | 4.26 | 4.20 | 4.01 | 2.73 | 2.72 | 2.73 | 3.48 | 3.40 | 3.02 |
| Liabilities / Assets | 0.77 | 0.77 | 0.76 | 0.75 | 0.63 | 0.63 | 0.63 | 0.71 | 0.71 | 0.67 |
| Efficiency | ||||||||||
| Asset turnover | 0.10 | 0.09 | 0.09 | 0.08 | 0.13 | 0.13 | 0.12 | 0.11 | 0.11 | 0.11 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 112d | 122d | 106d | 125d | 112d | 78d | 105d | 90d | 97d | 86d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 60.0x | 101.5x | 131.6x | 138.5x | 106.1x | 111.2x | 111.3x | 88.9x | 105.4x | 106.0x |
| P / B | 8.4x | 10.4x | 12.7x | 13.8x | 13.3x | 12.3x | 11.4x | 11.8x | 12.4x | 10.9x |
| P / S | 18.6x | 25.8x | 32.8x | 43.4x | 36.4x | 36.0x | 34.6x | 30.8x | 34.5x | 31.9x |
| EV / EBITDA | 44.0x | 71.4x | 83.2x | 105.8x | 75.0x | 79.9x | 79.6x | 63.7x | 75.3x | 74.6x |
| Growth | ||||||||||
| Revenue growth (YoY) | 19.9% | 18.3% | 16.8% | 4.7% | 4.8% | 2.5% | 5.7% | 4.2% | 6.6% | 7.4% |
| Revenue CAGR (3y) | 9.4% | 9.4% | 8.5% | 5.9% | 5.7% | 6.8% | 8.5% | 9.0% | 11.3% | 6.3% |
| Revenue CAGR (5y) | 10.2% | 9.6% | 10.6% | 5.9% | 5.7% | 5.9% | 7.9% | 6.1% | 8.3% | 7.6% |
| Gross profit growth (YoY) | 22.8% | 22.1% | 20.0% | 4.9% | 5.9% | 1.4% | 7.6% | 5.1% | 8.3% | 7.0% |
| Operating income growth (YoY) | 14.5% | 6.3% | -0.9% | 6.3% | 6.5% | 1.9% | 7.2% | 6.2% | 8.2% | 7.3% |
| Net income growth (YoY) | 7.9% | -4.4% | -10.2% | 5.3% | 4.2% | 2.0% | 9.0% | 6.7% | 10.5% | 8.5% |
| EPS growth (YoY) | 9.1% | -3.5% | -10.2% | 5.6% | 3.6% | 1.7% | 9.1% | 7.0% | 10.5% | 8.8% |
| EPS CAGR (3y) | 6.5% | 3.6% | 0.3% | 7.8% | 6.3% | 8.7% | 12.9% | 12.5% | 25.3% | 11.2% |
| EPS CAGR (5y) | 10.0% | 8.0% | 12.4% | 9.6% | 7.9% | 10.1% | 10.7% | 8.9% | 11.6% | 10.5% |
| FCF growth (YoY) | - | - | 29.8% | - | - | -17.3% | - | - | 84.9% | - |
| FCF CAGR (5y) | - | - | 27.8% | - | - | 13.7% | - | - | 14.1% | - |
| Book value growth (YoY) | -2.5% | -6.0% | 3.1% | 8.6% | 9.9% | 7.3% | 8.8% | 10.2% | 14.4% | 13.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-05-31.
Product / service
$5.41B totalManagement Solutions$4.07B · 75.2%
Peo And Insurance Solutions$1.34B · 24.8%
Peer comparison
Same SIC group: Services-Engineering, Accounting, Research, Management
Comparing PAYCHEX INC against the 2 most active filers in the same SIC group.
Dividends
$4.43/share trailing 12 months · +10.2% YoY
| Ex-date | Per share |
|---|---|
| May 13, 2026 | $1.1900 |
| Jan 28, 2026 | $1.0800 |
| Nov 7, 2025 | $1.0800 |
| Jul 21, 2025 | $1.0800 |
| May 12, 2025 | $1.0800 |
| Feb 7, 2025 | $0.9800 |
| Nov 7, 2024 | $0.9800 |
| Aug 8, 2024 | $0.9800 |
| May 9, 2024 | $0.9800 |
| Feb 12, 2024 | $0.8900 |
| Nov 13, 2023 | $0.8900 |
| Aug 9, 2023 | $0.8900 |
| May 10, 2023 | $0.8900 |
| Feb 8, 2023 | $0.7900 |
| Nov 8, 2022 | $0.7900 |
| Aug 10, 2022 | $0.7900 |
| May 11, 2022 | $0.7900 |
| Jan 28, 2022 | $0.6600 |
| Oct 29, 2021 | $0.6600 |
| Jul 30, 2021 | $0.6600 |
| May 11, 2021 | $0.6600 |
| Jan 29, 2021 | $0.6200 |
| Oct 30, 2020 | $0.6200 |
| Jul 31, 2020 | $0.6200 |