Paychex, Inc. (PAYX) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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PAYX Revenue Growth
Revenue Breakdown (FY 2025)
PAYX's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
PAYX Revenue Analysis (2014–2025)
As of May 8, 2026, Paychex, Inc. (PAYX) generated trailing twelve-month (TTM) revenue of $6.03 billion, reflecting strong growth of +18.3% year-over-year. The most recent quarter (Q2 2026) recorded $1.56 billion in revenue, up 1.1% sequentially.
Looking at the longer-term picture, PAYX's 5-year compound annual growth rate (CAGR) stands at +6.6%, indicating steady revenue expansion. The company achieved its highest annual revenue of $5.57 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows PAYX's business is primarily driven by Management Solutions (75%), and Peo And Insurance Solutions (25%). With over half of revenue concentrated in Management Solutions, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including ADP (+6.9% YoY), PCTY (+14.7% YoY), and PAYC (+9.4% YoY), PAYX has outperformed the peer group in terms of revenue growth. Compare PAYX vs ADP →
PAYX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PAYXCurrent | $6.0B | +18.3% | +6.6% | 39.6% | |
 ADP | $20.6B | +6.9% | +7.1% | 26.3% | |
 PCTY | $1.6B | +14.7% | +23.2% | 19.1% | |
 PAYC | $2.1B | +9.4% | +19.5% | 27.6% | |
 TNET | $5.0B | -3.0% | +4.4% | 5.3% | |
 NSP | $6.8B | +3.5% | +9.7% | -0.1% |
PAYX Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $5.57B | +5.6% | $4.03B | 72.4% | $2.21B | 39.6% |
| 2024 | $5.28B | +5.4% | $3.80B | 72.0% | $2.17B | 41.2% |
| 2023 | $5.01B | +8.6% | $3.55B | 71.0% | $2.03B | 40.6% |
| 2022 | $4.61B | +13.7% | $3.26B | 70.6% | $1.84B | 39.9% |
| 2021 | $4.06B | +0.4% | $2.79B | 68.7% | $1.46B | 36.0% |
| 2020 | $4.04B | +7.1% | $2.76B | 68.3% | $1.46B | 36.1% |
| 2019 | $3.77B | +11.6% | $2.59B | 68.8% | $1.37B | 36.3% |
| 2018 | $3.38B | +7.3% | $2.36B | 69.9% | $1.29B | 38.1% |
| 2017 | $3.15B | +6.8% | $2.23B | 70.8% | $1.24B | 39.3% |
| 2016 | $2.95B | +7.7% | $2.09B | 71.0% | $1.15B | 38.8% |
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Start ComparisonPAYX — Frequently Asked Questions
Quick answers to the most common questions about buying PAYX stock.
Is PAYX's revenue growth accelerating or slowing?
PAYX revenue is accelerating at +18.3% year-over-year, exceeding the 5-year CAGR of +6.6%. TTM revenue reached $6.0B. Growth momentum has increased versus prior periods.
What is PAYX's long-term revenue growth rate?
Paychex, Inc.'s 5-year revenue CAGR of +6.6% reflects the sustained expansion pattern. Current YoY growth of +18.3% is above this long-term average.
How is PAYX's revenue distributed by segment?
PAYX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.