Paychex, Inc. (PAYX)

Paychex Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug 31, 2026	May 31, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022
Revenue Revenue Growth	6,603	6,512	5,572	5,278	5,007	4,612
Revenue Growth	13.97%	16.88%	5.56%	5.42%	8.57%	13.68%
Gross Profit Gross Profit Growth	4,912	4,838	4,031	3,799	3,554	3,255
Operating Income Operating Income Growth	2,635	2,573	2,329	2,174	2,033	1,840
Net Income Net Income Growth	1,806	1,760	1,657	1,690	1,557	1,393
Earnings Per Share EPS Growth	5.04	4.89	4.58	4.67	4.30	3.84
EPS Growth	13.04%	6.77%	-1.93%	8.61%	11.98%	26.73%

Revenue by Segment

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug 31, 2026	May 31, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022
Management Solutions Management Solutions Growth	4,918	4,868	4,067	3,866	3,731	3,443
PEO & Insurance Solutions PEO & Insurance Solutions Growth	1,471	1,433	1,343	1,266	1,177	1,111
Interest on Client Funds Interest on Client Funds Growth	213.1	210.9	161.7	146.3	99.8	57.7
Revenue (Total) Revenue (Total) Growth	6,603	6,512	5,572	5,278	5,007	4,612

Cash & Debt

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug 31, 2026	May 31, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022
Cash & Investments Cash & Investments Growth	934.2	1,144	1,663	1,503	1,595	1,224
Total Debt Total Debt Growth	4,621	4,630	5,045	885.5	886	906.3
Net Cash (Debt) Net Cash Growth	-3,687	-3,487	-3,382	617.3	709.4	317.6
Net Cash Growth	-	-	-	-12.98%	123.36%	199.91%
Net Cash Per Share Net Cash Per Share Growth	-10.28	-9.69	-9.34	1.70	1.96	0.87

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug 31, 2026	May 31, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022
Operating Cash Flow Operating Cash Flow Growth	2,252	2,557	1,901	1,898	1,706	1,590
Capital Expenditures CapEx Growth	-235.1	-234.9	-191.8	-161.4	-143	-133.8
Free Cash Flow Free Cash Flow Growth	2,017	2,322	1,709	1,736	1,563	1,456
Free Cash Flow Growth	8.36%	35.85%	-1.57%	11.07%	7.37%	27.50%

Margins

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug 31, 2026	May 31, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022
Gross Margin	74.39%	74.29%	72.35%	71.97%	70.98%	70.59%
Operating Margin	39.91%	39.51%	41.81%	41.19%	40.60%	39.90%
Pretax Margin	36.02%	35.49%	39.05%	42.02%	40.91%	39.56%
Profit Margin	27.35%	27.03%	29.74%	32.02%	31.10%	30.20%
FCF Margin	30.54%	35.65%	30.68%	32.90%	31.22%	31.57%

Dividends

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	May 31, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022
Dividend Per Share Dividend Per Share Growth	4.760	4.430	4.020	3.650	3.260	2.770
Dividend Per Share Growth	10.19%	10.20%	10.14%	11.96%	17.69%	9.92%
Dividend Yield	4.79%	4.62%	2.68%	3.29%	3.47%	2.57%

Valuation

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	May 31, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022
PE Ratio	19.70	19.74	34.32	25.59	24.29	32.10
Forward PE	16.42	16.83	30.00	24.55	23.25	31.21
P/FCF Ratio	17.53	14.97	33.28	24.91	24.20	30.71
PS Ratio	5.35	5.34	10.21	8.20	7.55	9.69

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Sep 24, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Sep 29, 2026

Data Sources Report a data error