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Paychex, Inc.(PAYX)Earnings, Financials & Key Ratios
PAYX•NASDAQ
$91.38
$32.81B mkt cap·20.0× P/E·Price updated May 6, 2026
AboutPaychex, Inc. provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. The company also provides HR solutions, including payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services. In addition, it offers cloud-based HR administration software products for employee benefits management and administration, time and attendance, digital communication solutions, recruiting, and onboarding solutions; plan administration outsourcing and state unemployment insurance services; various business services to small to medium-sized businesses comprising payroll funding and outsourcing services, which include payroll processing, invoicing, and tax preparation; and payment processing services, financial fitness programs, and a small-business loan resource center. Further, the company provides insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. It markets and sells its services primarily through its direct sales force. The company was founded in 1971 and is headquartered in Rochester, New York.Show more
- Revenue$5.57B+5.6%
- EBITDA$2.42B+2.8%
- Net Income$1.66B-2.0%
- EPS (Diluted)4.58-1.9%
- Gross Margin72.35%+0.5%
- EBITDA Margin43.38%-2.6%
- Operating Margin39.62%-3.8%
- Net Margin29.74%-7.1%
- ROE41.8%-9.8%
- ROIC30.89%-40.0%
- Debt/Equity1.22+433.8%
- Interest Coverage20.95-64.1%
PAYX Key Insights
Paychex, Inc. (PAYX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 45.2%
- ✓FCF machine: 31.6% free cash flow margin
- ✓14 consecutive years of dividend growth
- ✓Healthy dividend yield of 4.4%
- ✓Healthy 5Y average net margin of 30.0%
✗Weaknesses
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
PAYX Price & Volume
Paychex, Inc. (PAYX) stock price & volume — 10-year historical chart
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PAYX Growth Metrics
Paychex, Inc. (PAYX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years7.36%
5 Years6.64%
3 Years6.51%
TTM12.37%
Profit CAGR
10 Years9.4%
5 Years8.58%
3 Years5.97%
TTM-7.19%
EPS CAGR
10 Years9.49%
5 Years8.54%
3 Years6.05%
TTM-7.16%
Return on Capital
10 Years45.57%
5 Years39.25%
3 Years39.67%
Last Year30.07%
PAYX Recent Earnings
Paychex, Inc. (PAYX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Mar 25, 2026EPS
$1.71
Est $1.67
+2.4%
Revenue
$1.8B
Est $1.8B
+1.5%
Q4 2025
Dec 19, 2025EPS
$1.26
Est $1.23
+2.4%
Revenue
$1.6B
Est $1.6B
+0.3%
Q4 2025
Sep 30, 2025EPS
$1.22
Est $1.20
+1.7%
Revenue
$1.5B
Est $1.5B
+0.1%
Q3 2025
Jun 25, 2025EPS
$1.19
Est $1.19
+0.0%
Revenue
$1.4B
Est $1.4B
-1.1%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 25, 2026 | $1.71vs $1.67+2.4% | $1.8Bvs $1.8B+1.5% |
| Q4 2025 | Dec 19, 2025 | $1.26vs $1.23+2.4% | $1.6Bvs $1.6B+0.3% |
| Q4 2025 | Sep 30, 2025 | $1.22vs $1.20+1.7% | $1.5Bvs $1.5B+0.1% |
| Q3 2025 | Jun 25, 2025 | $1.19vs $1.19+0.0% | $1.4Bvs $1.4B-1.1% |
Based on last 12 quarters of dataView full earnings history →
PAYX Peer Comparison
Paychex, Inc. (PAYX) competitors in Payroll, PEO and HCM Services — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ADP | 83.43B | 207.20 | 20.76 | 7.07% | 20.12% | 68.69% | 1.46 | |
 PCTY | 5.52B | 102.53 | 25.51 | 13.74% | 14.19% | 21.69% | 0.18 | |
 PAYC | 6.86B | 126.32 | 15.63 | 8.95% | 22.44% | 31.03% | 0.09 | |
 TNET | 1.89B | 40.89 | 12.94 | -0.85% | 3.22% | 179.66% | 18.13 | |
 NSP | 1.1B | 28.75 | -159.72 | 3.51% | -0.1% | -7.69% | 9.46 | |
 HCKT | 257.5M | 10.21 | 21.72 | -2.62% | 4.75% | 15.84% | 1.17 | |
 TASK | 601.36M | 6.68 | 6.07 | 18.95% | 11.64% | 21.23% | 0.50 | |
 ALIT | 490.57M | 0.94 | -0.16 | -3% | -137.5% | -171.72% | 1.92 |
Compare PAYX vs Peers
Paychex, Inc. (PAYX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PAYX Income Statement
Paychex, Inc. (PAYX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | May'17 | May'18 | May'19 | May'20 | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 3.15B | 3.38B | 3.77B | 4.04B | 4.06B | 4.61B | 5.01B | 5.28B | 5.57B | 6.03B |
| Revenue Growth % | 6.75% | 7.29% | 11.58% | 7.1% | 0.4% | 13.68% | 8.57% | 5.42% | 5.56% | 12.37% |
| Cost of Goods Sold | 919.6M | 1.02B | 1.18B | 1.28B | 1.27B | 1.36B | 1.45B | 1.48B | 1.54B | 1.61B |
| COGS % of Revenue | 29.18% | 30.1% | 31.22% | 31.7% | 31.34% | 29.41% | 29.02% | 28.03% | 27.65% | - |
| Gross Profit | 2.23B▲ 0% | 2.36B▲ 5.9% | 2.59B▲ 9.8% | 2.76B▲ 6.4% | 2.79B▲ 0.9% | 3.26B▲ 16.9% | 3.55B▲ 9.2% | 3.8B▲ 6.9% | 4.03B▲ 6.1% | 4.43B▲ 0% |
| Gross Margin % | 70.82% | 69.9% | 68.78% | 68.3% | 68.66% | 70.59% | 70.98% | 71.97% | 72.35% | 73.36% |
| Gross Profit Growth % | 6.54% | 5.89% | 9.8% | 6.36% | 0.94% | 16.87% | 9.18% | 6.89% | 6.11% | - |
| Operating Expenses | 992.1M | 1.08B | 1.22B | 1.3B | 1.32B | 1.42B | 1.52B | 1.62B | 1.82B | 2.19B |
| OpEx % of Revenue | 31.48% | 31.81% | 32.43% | 32.15% | 32.66% | 30.69% | 30.38% | 30.78% | 32.73% | - |
| Selling, General & Admin | 992.1M | 1.08B | 1.22B | 1.3B | 1.32B | 1.42B | 1.52B | 1.62B | 1.82B | 2.19B |
| SG&A % of Revenue | 31.48% | 31.81% | 32.43% | 32.15% | 32.66% | 30.69% | 30.38% | 30.78% | 32.73% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 1.24B▲ 0% | 1.29B▲ 3.9% | 1.37B▲ 6.5% | 1.46B▲ 6.5% | 1.46B▲ 0.0% | 1.84B▲ 26.0% | 2.03B▲ 10.5% | 2.17B▲ 6.9% | 2.21B▲ 1.5% | 2.24B▲ 0% |
| Operating Margin % | 39.34% | 38.08% | 36.35% | 36.15% | 36.01% | 39.9% | 40.6% | 41.19% | 39.62% | 37.07% |
| Operating Income Growth % | 8.11% | 3.86% | 6.51% | 6.5% | 0.01% | 25.97% | 10.49% | 6.94% | 1.55% | - |
| EBITDA | 1.37B | 1.43B | 1.55B | 1.67B | 1.65B | 2.03B | 2.21B | 2.35B | 2.42B | 2.58B |
| EBITDA Margin % | 43.36% | 42.16% | 41.16% | 41.34% | 40.74% | 44.06% | 44.13% | 44.53% | 43.38% | 42.82% |
| EBITDA Growth % | 8.31% | 4.32% | 8.93% | 7.56% | -1.05% | 22.94% | 8.76% | 6.38% | 2.83% | 8.23% |
| D&A (Non-Cash Add-back) | 126.9M | 138M | 181.5M | 209.7M | 192M | 191.8M | 176.6M | 176.5M | 209.5M | 347.2M |
| EBIT | 1.26B | 1.29B | 1.38B | 1.46B | 1.46B | 1.84B | 2.03B | 2.26B | 2.28B | 2.32B |
| Net Interest Income | 7.4M | 8M | -4.3M | -26.5M | -33.5M | -33.7M | 12.4M | 45.4M | -32.6M | -148.5M |
| Interest Income | 9.9M | 11.9M | 13.3M | 12.3M | 2.3M | 2.9M | 49.1M | 82.7M | 72.8M | 74.5M |
| Interest Expense | 2.5M | 3.9M | 17.6M | 38.8M | 35.8M | 36.6M | 36.7M | 37.3M | 105.4M | 223M |
| Other Income/Expense | -9.1M | 8.6M | -3.3M | -23.4M | -26.5M | -15.4M | 15.1M | 43.9M | -31.8M | -143.9M |
| Pretax Income | 1.24B▲ 0% | 1.3B▲ 4.1% | 1.37B▲ 5.5% | 1.44B▲ 5.1% | 1.43B▼ 0.2% | 1.82B▲ 27.2% | 2.05B▲ 12.3% | 2.22B▲ 8.3% | 2.18B▼ 1.9% | 2.09B▲ 0% |
| Pretax Margin % | 39.5% | 38.34% | 36.26% | 35.57% | 35.35% | 39.56% | 40.91% | 42.02% | 39.05% | 34.68% |
| Income Tax | 427.5M | 362.4M | 333.6M | 339M | 336.7M | 431.8M | 490.9M | 527.6M | 518.6M | 497.1M |
| Effective Tax Rate % | 34.34% | 27.96% | 24.39% | 23.59% | 23.48% | 23.67% | 23.97% | 23.79% | 23.83% | 23.75% |
| Net Income | 817.3M▲ 0% | 933.7M▲ 14.2% | 1.03B▲ 10.8% | 1.1B▲ 6.2% | 1.1B▼ 0.1% | 1.39B▲ 26.9% | 1.56B▲ 11.8% | 1.69B▲ 8.5% | 1.66B▼ 2.0% | 1.6B▲ 0% |
| Net Margin % | 25.94% | 27.62% | 27.42% | 27.18% | 27.05% | 30.2% | 31.1% | 32.03% | 29.74% | 26.45% |
| Net Income Growth % | 7.99% | 14.24% | 10.79% | 6.16% | -0.05% | 26.91% | 11.81% | 8.55% | -1.96% | -7.19% |
| Net Income (Continuing) | 817.3M | 994.1M | 1.03B | 1.1B | 1.1B | 1.39B | 1.56B | 1.69B | 1.66B | 1.6B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.25▲ 0% | 2.58▲ 14.7% | 2.86▲ 10.9% | 3.04▲ 6.3% | 3.03▼ 0.3% | 3.84▲ 26.7% | 4.30▲ 12.0% | 4.67▲ 8.6% | 4.58▼ 1.9% | 4.42▲ 0% |
| EPS Growth % | 7.66% | 14.67% | 10.85% | 6.29% | -0.33% | 26.73% | 11.98% | 8.6% | -1.93% | -7.16% |
| EPS (Basic) | 2.27 | 2.60 | 2.88 | 3.06 | 3.05 | 3.86 | 4.32 | 4.69 | 4.60 | - |
| Diluted Shares Outstanding | 362.6M | 361.5M | 361.8M | 361M | 362.1M | 363.1M | 362.3M | 362.1M | 362M | 361.1M |
| Basic Shares Outstanding | 359.8M | 359M | 359.2M | 358.5M | 359.9M | 360.6M | 360.4M | 360.3M | 360.2M | 359.7M |
| Dividend Payout Ratio | 81.04% | 79.22% | 79.93% | 80.99% | 82.8% | 71.77% | 75.45% | 77.81% | 87.4% | - |
PAYX Balance Sheet
Paychex, Inc. (PAYX) balance sheet — assets, liabilities & shareholders' equity
| Line item | May'17 | May'18 | May'19 | May'20 | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 5.27B | 5.78B | 5.68B | 5.46B | 6.17B | 6.58B | 7.53B | 7.25B | 8.92B | 8.91B |
| Cash & Short-Term Investments | 323.4M | 424.2M | 712.6M | 932.4M | 1.03B | 1.22B | 1.6B | 1.5B | 1.66B | 1.57B |
| Cash Only | 184.6M | 358.2M | 673.6M | 905.2M | 995.2M | 370M | 1.22B | 1.47B | 1.63B | 1.54B |
| Short-Term Investments | 138.8M | 66M | 39M | 27.2M | 36.7M | 853.9M | 373.4M | 33.9M | 34.5M | 37.6M |
| Accounts Receivable | 543.4M | 524.6M | 854.2M | 790.3M | 1.05B | 1.32B | 1.43B | 1.63B | 1.98B | 2.03B |
| Days Sales Outstanding | 62.94 | 56.64 | 82.65 | 71.39 | 94.79 | 104.33 | 103.97 | 112.39 | 129.38 | 119.07 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 4.36B | 4.75B | 4.09B | 3.73B | 4.05B | 4.01B | 4.46B | 4.08B | 5.24B | 5.25B |
| Total Non-Current Assets | 1.56B | 1.68B | 3.01B | 3.09B | 3.06B | 3.05B | 3.02B | 3.13B | 7.65B | 7.61B |
| Property, Plant & Equipment | 337.2M | 393.5M | 408.7M | 522.2M | 498.8M | 480M | 457.8M | 458.6M | 575.3M | 631.3M |
| Fixed Asset Turnover | 9.35x | 8.59x | 9.23x | 7.74x | 8.13x | 9.61x | 10.94x | 11.51x | 9.68x | 10.51x |
| Goodwill | 657.1M | 814M | 1.78B | 1.79B | 1.82B | 1.83B | 1.83B | 1.88B | 4.51B | 4.53B |
| Intangible Assets | 57.6M | 141.4M | 399.1M | 330.6M | 275.8M | 224.6M | 187.4M | 194.5M | 1.95B | 1.81B |
| Long-Term Investments | 454M | 295.5M | 18.3M | 10.2M | 7.1M | 5M | 3.8M | 3.7M | 0 | 0 |
| Other Non-Current Assets | 55.8M | 34.9M | 397.6M | 432M | 455.3M | 512.5M | 535.3M | 592.1M | 610.9M | 2.46B |
| Total Assets | 6.83B▲ 0% | 7.46B▲ 9.2% | 8.68B▲ 16.3% | 8.55B▼ 1.5% | 9.23B▲ 7.9% | 9.64B▲ 4.4% | 10.55B▲ 9.5% | 10.38B▼ 1.5% | 16.56B▲ 59.5% | 16.52B▲ 0% |
| Asset Turnover | 0.46x | 0.45x | 0.43x | 0.47x | 0.44x | 0.48x | 0.47x | 0.51x | 0.34x | 0.40x |
| Asset Growth % | 6.1% | 9.22% | 16.33% | -1.52% | 7.91% | 4.42% | 9.46% | -1.55% | 59.53% | 161.06% |
| Total Current Liabilities | 4.73B | 5.3B | 4.84B | 4.43B | 4.94B | 5.27B | 5.81B | 5.31B | 6.96B | 7.04B |
| Accounts Payable | 57.2M | 73.7M | 75.9M | 79.4M | 89M | 105.7M | 84.7M | 104.3M | 129.8M | 137.6M |
| Days Payables Outstanding | 22.7 | 26.43 | 23.52 | 22.63 | 25.55 | 28.45 | 21.28 | 25.73 | 30.76 | 28.77 |
| Short-Term Debt | 0 | 0 | 0 | 5.1M | 7.4M | 8.7M | 10.2M | 18.7M | 418.4M | 418.1M |
| Deferred Revenue (Current) | 22.9M | 24.3M | 40.3M | 39.2M | 37.9M | 38.4M | 47.3M | 50.2M | 69.4M | 260.4M |
| Other Current Liabilities | 4.36B | 4.93B | 4B | 4.25B | 4.8B | 4.21B | 4.69B | 4.34B | 5.42B | 5.46B |
| Current Ratio | 1.12x | 1.09x | 1.17x | 1.23x | 1.25x | 1.25x | 1.30x | 1.37x | 1.28x | 1.28x |
| Quick Ratio | 1.12x | 1.09x | 1.17x | 1.23x | 1.25x | 1.25x | 1.30x | 1.37x | 1.28x | 1.28x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | 90.3 |
| Total Non-Current Liabilities | 153.3M | 261.9M | 1.21B | 1.34B | 1.34B | 1.28B | 1.25B | 1.27B | 5.48B | 5.6B |
| Long-Term Debt | 0 | 0 | 796.4M | 796.8M | 797.3M | 797.7M | 798.2M | 798.6M | 4.55B | 4.55B |
| Capital Lease Obligations | 0 | 0 | 13M | 96.9M | 92.4M | 74.8M | 57.3M | 49M | 55.5M | 222.1M |
| Deferred Tax Liabilities | 33.9M | 154.4M | 223.1M | 240.8M | 218M | 165.5M | 112.1M | 86M | 444.7M | 1.59B |
| Other Non-Current Liabilities | 119.4M | 107.5M | 179M | 207.9M | 233.3M | 242.8M | 280.2M | 339.4M | 431.2M | 1.69B |
| Total Liabilities | 4.88B | 5.56B | 6.06B | 5.77B | 6.28B | 6.55B | 7.05B | 6.58B | 12.44B | 12.64B |
| Total Debt | 0 | 0 | 809.4M | 898.8M | 897.1M | 881.2M | 865.7M | 866.3M | 5.02B | 5.04B |
| Net Debt | -184.6M | -358.2M | 135.8M | -6.4M | -98.1M | 511.2M | -356.3M | -602.6M | 3.39B | 3.5B |
| Debt / Equity | - | - | 0.31x | 0.32x | 0.30x | 0.29x | 0.25x | 0.23x | 1.22x | 1.22x |
| Debt / EBITDA | - | - | 0.52x | 0.54x | 0.54x | 0.43x | 0.39x | 0.37x | 2.08x | 1.95x |
| Net Debt / EBITDA | -0.14x | -0.25x | 0.09x | -0.00x | -0.06x | 0.25x | -0.16x | -0.26x | 1.40x | 1.40x |
| Interest Coverage | 495.84x | 330.13x | 77.91x | 37.64x | 40.80x | 50.27x | 55.40x | 58.29x | 20.95x | 10.38x |
| Total Equity | 1.96B▲ 0% | 2.02B▲ 3.5% | 2.62B▲ 29.4% | 2.78B▲ 6.2% | 2.95B▲ 6.0% | 3.09B▲ 4.7% | 3.49B▲ 13.2% | 3.8B▲ 8.8% | 4.13B▲ 8.6% | 3.88B▲ 0% |
| Equity Growth % | 2.28% | 3.54% | 29.39% | 6.18% | 5.99% | 4.65% | 13.22% | 8.81% | 8.6% | 20.42% |
| Book Value per Share | 5.39 | 5.60 | 7.24 | 7.70 | 8.14 | 8.50 | 9.64 | 10.50 | 11.40 | 10.75 |
| Total Shareholders' Equity | 1.96B | 2.02B | 2.62B | 2.78B | 2.95B | 3.09B | 3.49B | 3.8B | 4.13B | 3.88B |
| Common Stock | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M |
| Retained Earnings | 901.7M | 930.3M | 1.41B | 1.43B | 1.45B | 1.67B | 2.02B | 2.21B | 2.28B | 1.95B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 20M | -36.2M | 100K | 56.5M | 51.8M | -133.9M | -159.9M | -145.1M | -53.7M | -17.6M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PAYX Cash Flow Statement
Paychex, Inc. (PAYX) cash flow — operating, investing & free cash flow history
| Line item | May'17 | May'18 | May'19 | May'20 | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 960.4M | 1.28B | 1.27B | 1.44B | 1.26B | 1.51B | 1.7B | 1.9B | 1.95B | 1.95B |
| Operating CF Margin % | 30.48% | 37.75% | 33.7% | 35.66% | 31.07% | 32.65% | 33.94% | 35.95% | 35.02% | - |
| Operating CF Growth % | -5.68% | 32.9% | -0.38% | 13.32% | -12.53% | 19.46% | 12.88% | 11.67% | 2.81% | 171.82% |
| Net Income | 817.3M | 933.7M | 1.03B | 1.1B | 1.1B | 1.39B | 1.56B | 1.69B | 1.66B | 1.6B |
| Depreciation & Amortization | 126.9M | 138M | 181.5M | 209.7M | 192M | 191.8M | 176.6M | 176.5M | 209.5M | 347.2M |
| Stock-Based Compensation | 35.4M | 44.6M | 46.2M | 47.4M | 52.5M | 52.8M | 62.6M | 61.1M | 111.8M | 69.9M |
| Deferred Taxes | 7.6M | 19.2M | 4.7M | -4M | -21M | 2.3M | -44M | -29.8M | -15.8M | 70.9M |
| Other Non-Cash Items | 77.3M | 68.9M | 232.5M | 223.4M | 234M | 234.2M | 264.8M | 279.9M | 269M | 340.4M |
| Working Capital Changes | -104.1M | 72M | -227.8M | -133.7M | -294.7M | -368.4M | -317.9M | -280.4M | -280.7M | -139.4M |
| Change in Receivables | -103.7M | 13.6M | -112.4M | 55.1M | -272.9M | -269.9M | -123.6M | 114.1M | -109.9M | -104.1M |
| Change in Inventory | -33.9M | 21.4M | 0 | -400K | -14M | 0 | -19.9M | 0 | 0 | 0 |
| Change in Payables | 48.9M | 47.2M | 77.5M | -4.9M | 169M | 151.8M | 67.4M | -127M | 67.9M | 183.5M |
| Cash from Investing | -424.6M | -679M | -1.63B | 771.9M | -460.6M | -1.42B | 218.5M | -260.9M | -3.68B | -4.3B |
| Capital Expenditures | -94.3M | -154M | -123.8M | -127M | -114.6M | -132.6M | -143M | -191.5M | -191.8M | -232.7M |
| CapEx % of Revenue | 2.99% | 4.55% | 3.28% | 3.14% | 2.82% | 2.88% | 2.86% | 3.63% | 3.44% | - |
| Acquisitions | 0 | -180.4M | -991.5M | -6.1M | -19.5M | -24.9M | -2.7M | -208.3M | -3.29B | -3.29B |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 229M | -1.72B | -5.4M | -9.8M | -8.7M | -10.6M | 6.3M | -153.8M | -187.1M | -51.1M |
| Cash from Financing | -482.7M | -423.8M | -1.01B | -1.49B | -636.4M | -979.3M | -711.4M | -1.87B | 2.56B | 2.23B |
| Debt Issued (Net) | 0 | 0 | 796.3M | 5.1M | 2.3M | 1.3M | 2M | 9M | 4.13B | 4.13B |
| Equity Issued (Net) | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -2M |
| Dividends Paid | -662.3M | -739.7M | -826.8M | -889.4M | -908.7M | -999.6M | -1.18B | -1.32B | -1.45B | -1.52B |
| Share Repurchases | -166.2M | -143.1M | -56.9M | -171.9M | -155.7M | -145.2M | 0 | -169.2M | -104.5M | -286.6M |
| Other Financing | 345.8M | 459M | -921.1M | -432M | 425.7M | 164.2M | 472M | -399.2M | -21M | -92.9M |
| Net Change in Cash | 53.1M▲ 0% | 173.6M▲ 226.9% | -1.37B▼ 886.5% | 724.6M▲ 153.1% | 163.3M▼ 77.5% | -894.7M▼ 647.9% | 1.21B▲ 234.8% | -237.9M▼ 119.7% | 837.3M▲ 452.0% | -63M▲ 0% |
| Free Cash Flow | 866.1M▲ 0% | 1.12B▲ 29.6% | 1.17B▲ 3.9% | 1.31B▲ 12.7% | 1.15B▼ 12.8% | 1.37B▲ 19.8% | 1.56B▲ 13.4% | 1.74B▲ 11.6% | 1.76B▲ 1.3% | 2.06B▲ 0% |
| FCF Margin % | 27.48% | 33.2% | 30.9% | 32.52% | 28.24% | 29.77% | 31.08% | 32.9% | 31.58% | 34.1% |
| FCF Growth % | -5.91% | 29.59% | 3.86% | 12.71% | -12.8% | 19.83% | 13.37% | 11.56% | 1.32% | 31.87% |
| FCF per Share | 2.39 | 3.10 | 3.22 | 3.64 | 3.16 | 3.78 | 4.30 | 4.80 | 4.86 | 4.86 |
| FCF Conversion (FCF/Net Income) | 1.18x | 1.37x | 1.23x | 1.31x | 1.15x | 1.08x | 1.09x | 1.12x | 1.18x | 1.29x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 35.5M | 35.7M | 36.2M | 37.5M | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 397.7M | 525.8M | 539.5M | 512.4M | 0 |
PAYX Key Ratios
Paychex, Inc. (PAYX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 42.27% | 46.92% | 44.55% | 40.66% | 38.31% | 46.17% | 47.35% | 46.35% | 41.8% | 41.13% |
| Return on Invested Capital (ROIC) | 52.36% | 56.19% | 46.52% | 39.61% | 38.95% | 42.82% | 45.29% | 51.48% | 30.89% | 30.89% |
| Gross Margin | 70.82% | 69.9% | 68.78% | 68.3% | 68.66% | 70.59% | 70.98% | 71.97% | 72.35% | 73.36% |
| Net Margin | 25.94% | 27.62% | 27.42% | 27.18% | 27.05% | 30.2% | 31.1% | 32.03% | 29.74% | 26.45% |
| Debt / Equity | - | - | 0.31x | 0.32x | 0.30x | 0.29x | 0.25x | 0.23x | 1.22x | 1.22x |
| Interest Coverage | 495.84x | 330.13x | 77.91x | 37.64x | 40.80x | 50.27x | 55.40x | 58.29x | 20.95x | 10.38x |
| FCF Conversion | 1.18x | 1.37x | 1.23x | 1.31x | 1.15x | 1.08x | 1.09x | 1.12x | 1.18x | 1.29x |
| Revenue Growth | 6.75% | 7.29% | 11.58% | 7.1% | 0.4% | 13.68% | 8.57% | 5.42% | 5.56% | 12.37% |
PAYX SEC Filings & Documents
Paychex, Inc. (PAYX) SEC filings — annual & quarterly reports (10-K, 10-Q)
PAYX Frequently Asked Questions
Paychex, Inc. (PAYX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Paychex, Inc. (PAYX) reported $6.03B in revenue for fiscal year 2025. This represents a 1755% increase from $325.3M in 1996.
Paychex, Inc. (PAYX) grew revenue by 5.6% over the past year. This is steady growth.
Yes, Paychex, Inc. (PAYX) is profitable, generating $1.60B in net income for fiscal year 2025 (29.7% net margin).
Dividend & Returns
Yes, Paychex, Inc. (PAYX) pays a dividend with a yield of 4.38%. This makes it attractive for income-focused investors.
Paychex, Inc. (PAYX) has a return on equity (ROE) of 41.8%. This is excellent, indicating efficient use of shareholder capital.
Paychex, Inc. (PAYX) generated $2.06B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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