Paychex Income Statement

Financials in millions USD. Fiscal year is June - May.

Millions USD. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Revenue	6,034	5,572	5,278	5,007	4,612	4,057
Revenue Growth (YoY)	12.37%	5.56%	5.42%	8.57%	13.68%	0.40%
Cost of Revenue	1,607	1,540	1,479	1,453	1,356	1,271
Gross Profit	4,427	4,031	3,799	3,554	3,255	2,786
Selling, General & Admin	2,190	1,824	1,625	1,521	1,415	1,325
Total Operating Expenses	2,190	1,824	1,625	1,521	1,415	1,325
Operating Income	2,237	2,208	2,174	2,033	1,840	1,461
Interest Expense	-200.4	-105.4	-37.3	-36.7	-	-
Other Non-Operating Income (Expense)	98.2	73.6	81.2	51.8	-15.4	-26.5
Total Non-Operating Income (Expense)	-102.2	-31.8	43.9	15.1	-15.4	-26.5
Pretax Income	2,093	2,176	2,218	2,048	1,825	1,434
Provision for Income Taxes	497.1	518.6	527.6	490.9	431.8	336.7
Net Income	1,596	1,657	1,690	1,557	1,393	1,098
Net Income to Common	1,596	1,657	1,690	1,557	1,393	1,098
Net Income Growth	-7.19%	-1.96%	8.55%	11.81%	26.91%	-0.06%
Shares Outstanding (Basic)	360	360	360	360	361	360
Shares Outstanding (Diluted)	362	362	362	362	363	362
Shares Change (YoY)	-0.03%	-0.03%	-0.06%	-0.22%	0.28%	0.30%
EPS (Basic)	4.43	4.60	4.69	4.32	3.86	3.05
EPS (Diluted)	4.41	4.58	4.67	4.30	3.84	3.03
EPS Growth	-7.16%	-1.93%	8.61%	11.98%	26.73%	-0.33%
Free Cash Flow	1,996	1,709	1,736	1,563	1,456	1,142
Free Cash Flow Growth	16.78%	-1.57%	11.07%	7.37%	27.50%	-13.09%
Free Cash Flow Per Share	5.52	4.72	4.80	4.31	4.01	3.15
Dividends Per Share	4.220	4.020	3.650	3.260	2.770	2.520
Dividend Growth	4.98%	10.14%	11.96%	17.69%	9.92%	1.61%
Gross Margin	73.36%	72.35%	71.97%	70.98%	70.59%	68.66%
Operating Margin	37.07%	39.62%	41.19%	40.60%	39.90%	36.01%
Profit Margin	26.45%	29.74%	32.03%	31.10%	30.20%	27.05%
FCF Margin	33.08%	30.67%	32.90%	31.22%	31.57%	28.15%
EBITDA	2,850	2,677	2,575	2,447	2,263	1,880
EBITDA Margin	47.23%	48.05%	48.79%	48.87%	49.07%	46.34%
EBIT	2,237	2,208	2,174	2,033	1,840	1,461
EBIT Margin	37.07%	39.62%	41.19%	40.60%	39.90%	36.01%
Effective Tax Rate	23.75%	23.83%	23.79%	23.97%	23.67%	23.48%

Updated Dec 19, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q