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
Operating Revenue	5,844	5,410	5,132	4,907	4,554	3,998
Other Revenue	190	161.7	146.3	99.8	57.7	59.3
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	1,906	1,702	1,625	1,521	1,415	1,325
Operating Expenses	1,906	1,702	1,625	1,521	1,415	1,325
Operating Income	2,520	2,329	2,174	2,033	1,840	1,461
Interest Expense	-223	-105.4	-37.3	-36.7	-36.6	-35.8
Interest & Investment Income	72.3	72.8	82.7	49.1	2.9	2.3
Other Non Operating Income (Expenses)	6.8	0.8	-1.5	2.7	18.1	5.8
EBT Excluding Unusual Items	2,376	2,298	2,218	2,048	1,824	1,433
Merger & Restructuring Charges	-283.5	-121.6	-	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	0.2	1.2
Pretax Income	2,093	2,176	2,218	2,048	1,825	1,434
Income Tax Expense	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)	-0.04%	-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)	4.42	4.58	4.67	4.30	3.84	3.03
EPS Growth	-6.95%	-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 Per Share	5.52	4.72	4.79	4.32	4.01	3.15
Dividend Per Share	4.220	4.020	3.650	3.260	2.770	2.520
Dividend Growth	10.18%	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	41.77%	41.81%	41.19%	40.60%	39.90%	36.01%
Profit Margin	26.45%	29.74%	32.02%	31.10%	30.20%	27.05%
Free Cash Flow Margin	33.08%	30.68%	32.90%	31.22%	31.57%	28.15%
EBITDA	2,867	2,539	2,351	2,210	2,032	1,653
EBITDA Margin	47.52%	45.57%	44.53%	44.13%	44.06%	40.74%
D&A For EBITDA	347.2	209.5	176.5	176.6	191.8	192
EBIT	2,520	2,329	2,174	2,033	1,840	1,461
EBIT Margin	41.77%	41.81%	41.19%	40.60%	39.90%	36.01%
Effective Tax Rate	23.75%	23.83%	23.79%	23.97%	23.66%	23.48%
Revenue as Reported	6,034	5,572	5,278	5,007	4,612	4,057

Updated Dec 19, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q