Paychex, Inc. (PAYX) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|
| Sales/Revenue | 1.61B | 1.81B | 1.56B | 1.54B | 1.43B | 1.51B | 1.32B | 1.32B | 1.3B | 1.44B | 1.26B | 1.29B | 1.23B | 1.38B | 1.19B | 1.21B | 1.14B | 1.28B | 1.11B | 1.08B |
| Revenue Growth % | 12.49% | 19.87% | 18.28% | 16.8% | 10.21% | 4.84% | 4.69% | 2.53% | 5.33% | 4.22% | 5.68% | 6.62% | 7.45% | 8.23% | 7.38% | 11.39% | 11.18% | 14.78% | 12.69% | 16.17% |
| Cost of Goods Sold | 417.3M | 431.2M | 412.2M | 413.8M | 393.9M | 387.4M | 379.1M | 380M | 375.2M | 379.8M | 364.1M | 360.2M | 369.8M | 372.9M | 359.3M | 351M | 360M | 352.2M | 331.6M | 312.5M |
| COGS % of Revenue | 25.99% | 23.84% | 26.46% | 26.87% | 27.6% | 25.67% | 28.79% | 28.82% | 28.97% | 26.39% | 28.95% | 28.01% | 30.07% | 27% | 30.19% | 29.1% | 31.46% | 27.6% | 29.91% | 28.86% |
| Gross Profit | 1.19B | 1.38B | 1.15B | 1.13B | 1.03B | 1.12B | 937.8M | 938.5M | 919.9M | 1.06B | 893.8M | 925.8M | 859.8M | 1.01B | 831M | 855.2M | 784.3M | 923.8M | 776.9M | 770.4M |
| Gross Margin % | 74.01% | 76.16% | 73.54% | 73.13% | 72.4% | 74.33% | 71.21% | 71.18% | 71.03% | 73.61% | 71.05% | 71.99% | 69.93% | 73% | 69.81% | 70.9% | 68.54% | 72.4% | 70.09% | 71.14% |
| Gross Profit Growth % | 14.98% | 22.83% | 22.14% | 20% | 12.34% | 5.86% | 4.92% | 1.37% | 6.99% | 5.1% | 7.56% | 8.26% | 9.63% | 9.13% | 6.96% | 11.01% | 9.94% | 17.94% | 17.04% | 23.24% |
| Operating Expenses | 583.5M | 585.7M | 573.5M | 584.3M | 602.3M | 429.8M | 399.7M | 391.8M | 438.1M | 409.7M | 387.7M | 389.5M | 406.5M | 396.2M | 358.7M | 359.6M | 390.3M | 361M | 336.6M | 327.5M |
| OpEx % of Revenue | 36.34% | 32.38% | 36.82% | 37.94% | 42.2% | 28.48% | 30.35% | 29.72% | 33.83% | 28.47% | 30.82% | 30.29% | 33.06% | 28.69% | 30.14% | 29.81% | 34.11% | 28.29% | 30.37% | 30.24% |
| Selling, General & Admin | 583.5M | 585.7M | 573.5M | 584.3M | 602.3M | 429.8M | 399.7M | 391.8M | 438.1M | 409.7M | 387.6M | 389.5M | 406.5M | 396.2M | 358.7M | 359.6M | 390.3M | 361M | 336.6M | 327.5M |
| SG&A % of Revenue | 36.34% | 32.38% | 36.82% | 37.94% | 42.2% | 28.48% | 30.35% | 29.72% | 33.83% | 28.47% | 30.81% | 30.29% | 33.06% | 28.69% | 30.14% | 29.81% | 34.11% | 28.29% | 30.37% | 30.24% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K |
| Operating Income | 604.7M | 792M | 571.9M | 541.9M | 431.1M | 691.8M | 538.1M | 546.7M | 481.8M | 649.8M | 506.2M | 536.3M | 453.3M | 611.9M | 472.3M | 495.6M | 394M | 562.8M | 440.3M | 442.9M |
| Operating Margin % | 37.66% | 43.78% | 36.72% | 35.19% | 30.2% | 45.84% | 40.86% | 41.46% | 37.2% | 45.15% | 40.24% | 41.7% | 36.87% | 44.31% | 39.68% | 41.09% | 34.43% | 44.11% | 39.72% | 40.9% |
| Operating Income Growth % | 40.27% | 14.48% | 6.28% | -0.88% | -10.52% | 6.46% | 6.3% | 1.94% | 6.29% | 6.19% | 7.18% | 8.21% | 15.05% | 8.72% | 7.27% | 11.9% | 11.36% | 20.1% | 24.27% | 55.95% |
| EBITDA | 717.9M | 903M | 681M | 651.2M | 516.8M | 734.9M | 579.8M | 585.7M | 527.4M | 694.6M | 551.1M | 577.5M | 497.4M | 656.1M | 516.6M | 539.6M | 443.1M | 611.2M | 488.9M | 488.6M |
| EBITDA Margin % | 44.71% | 49.92% | 43.72% | 42.29% | 36.21% | 48.7% | 44.03% | 44.42% | 40.72% | 48.26% | 43.81% | 44.91% | 40.45% | 47.51% | 43.4% | 44.74% | 38.72% | 47.9% | 44.1% | 45.12% |
| EBITDA Growth % | 38.91% | 22.87% | 17.45% | 11.18% | -2.01% | 5.8% | 5.21% | 1.42% | 6.03% | 5.87% | 6.68% | 7.02% | 12.25% | 7.35% | 5.67% | 10.44% | 10.44% | 18.68% | 21.35% | 46.46% |
| D&A (Non-Cash Add-back) | 113.2M | 111M | 109.1M | 109.3M | 85.7M | 43.1M | 41.7M | 39M | 45.6M | 44.8M | 44.9M | 41.2M | 44.1M | 44.2M | 44.3M | 44M | 49.1M | 48.4M | 48.6M | 45.7M |
| EBIT | 604.7M | 807.1M | 588.7M | 565.7M | 453M | 708.4M | 553.2M | 566.7M | 501.3M | 669.1M | 526.4M | 558.5M | 473M | 626.4M | 484.4M | 501.1M | 397.9M | 563.3M | 446.9M | 453.1M |
| Net Interest Income | -64.7M | -52.9M | -49.8M | -49.5M | -43.2M | -6M | 6.3M | 10.3M | 12.1M | 9.4M | 11.8M | 12.1M | 9.4M | 5.8M | 900K | -3.7M | -7.3M | -8.5M | -8.9M | -9M |
| Interest Income | 0 | 15.2M | 18.7M | 18.7M | 20.5M | 16.6M | 15.8M | 19.9M | 21.6M | 19.3M | 20.3M | 21.5M | 18.8M | 14.8M | 10.1M | 5.4M | 1.8M | 500K | 400K | 200K |
| Interest Expense | 64.7M | 68.1M | 68.5M | 68.2M | 63.7M | 22.6M | 9.5M | 9.6M | 9.5M | 9.9M | 8.5M | 9.4M | 9.4M | 9M | 9.2M | 9.1M | 9.1M | 9M | 9.3M | 9.2M |
| Other Income/Expense | -50.5M | -53M | -51.7M | -44.4M | -41.8M | -6M | 5.6M | 10.4M | 10M | 9.4M | 11.7M | 12.8M | 10.3M | 5.5M | 2.9M | -3.6M | -5.2M | -8.5M | -2.7M | 1M |
| Pretax Income | 554.2M | 739M | 520.2M | 497.5M | 389.3M | 685.8M | 543.7M | 557.1M | 491.8M | 659.2M | 517.9M | 549.1M | 463.6M | 617.4M | 475.2M | 492M | 388.8M | 554.3M | 437.6M | 443.9M |
| Pretax Margin % | 34.52% | 40.85% | 33.4% | 32.31% | 27.28% | 45.45% | 41.29% | 42.25% | 37.97% | 45.8% | 41.17% | 42.7% | 37.7% | 44.71% | 39.92% | 40.79% | 33.98% | 43.44% | 39.48% | 40.99% |
| Income Tax | 133.6M | 178.7M | 124.8M | 113.7M | 92.1M | 166.5M | 130.3M | 129.7M | 111.9M | 160.6M | 125.2M | 129.9M | 113.2M | 150M | 114.9M | 112.8M | 92.4M | 123.6M | 105.5M | 110.3M |
| Effective Tax Rate % | 24.11% | 24.18% | 23.99% | 22.85% | 23.66% | 24.28% | 23.97% | 23.28% | 22.75% | 24.36% | 24.17% | 23.66% | 24.42% | 24.3% | 24.18% | 22.93% | 23.77% | 22.3% | 24.11% | 24.85% |
| Net Income | 420.6M | 560.3M | 395.4M | 383.8M | 297.2M | 519.3M | 413.4M | 427.4M | 379.9M | 498.6M | 392.7M | 419.2M | 350.4M | 467.4M | 360.3M | 379.2M | 296.4M | 430.7M | 332.1M | 333.6M |
| Net Margin % | 26.2% | 30.97% | 25.39% | 24.92% | 20.82% | 34.41% | 31.39% | 32.42% | 29.33% | 34.64% | 31.22% | 32.6% | 28.5% | 33.84% | 30.27% | 31.44% | 25.9% | 33.75% | 29.96% | 30.81% |
| Net Income Growth % | 41.52% | 7.9% | -4.35% | -10.2% | -21.77% | 4.15% | 5.27% | 1.96% | 8.42% | 6.68% | 8.99% | 10.55% | 18.22% | 8.52% | 8.49% | 13.67% | 12.7% | 22.88% | 21.92% | 57.66% |
| Net Income (Continuing) | 420.6M | 560.3M | 395.4M | 383.8M | 297.2M | 519.3M | 413.4M | 427.4M | 379.9M | 498.6M | 392.7M | 419.2M | 350.4M | 467.4M | 360.3M | 379.2M | 296.4M | 430.7M | 332.1M | 333.6M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.17 | 1.55 | 1.10 | 1.06 | 0.82 | 1.43 | 1.14 | 1.18 | 1.05 | 1.38 | 1.08 | 1.16 | 0.97 | 1.29 | 0.99 | 1.05 | 0.82 | 1.19 | 0.91 | 0.92 |
| EPS Growth % | 42.68% | 8.39% | -3.51% | -10.17% | -21.9% | 3.62% | 5.56% | 1.72% | 8.25% | 6.98% | 9.09% | 10.48% | 18.29% | 8.4% | 8.79% | 14.13% | 12.33% | 22.68% | 21.33% | 55.93% |
| EPS (Basic) | 1.18 | 1.56 | 1.10 | 1.07 | 0.82 | 1.44 | 1.15 | 1.19 | 1.06 | 1.39 | 1.09 | 1.16 | 0.97 | 1.30 | 1.00 | 1.05 | 0.82 | 1.19 | 0.92 | 0.93 |
| Diluted Shares Outstanding | 358.2M | 360.6M | 361.1M | 361.9M | 362.3M | 362M | 361.8M | 361.9M | 361.8M | 361.7M | 362.1M | 362.8M | 362.3M | 362.3M | 362.3M | 362.4M | 363.3M | 363.4M | 363.1M | 362.8M |
| Basic Shares Outstanding | 357.6M | 359.4M | 359.7M | 360.1M | 360.3M | 360.1M | 360M | 360.1M | 360M | 359.9M | 360.5M | 360.8M | 360.5M | 360.5M | 360.5M | 360.1M | 360.8M | 360.9M | 360.7M | 360.1M |
| Dividend Payout Ratio | 100.95% | 69.25% | 98.1% | 101.38% | 130.99% | 67.98% | 85.34% | 82.69% | 92.87% | 64.26% | 81.54% | 76.79% | 91.58% | 60.93% | 79.02% | 75.05% | 96.05% | 55.38% | 71.76% | 71.37% |