PAYX
Paychex Inc
NASDAQ: PAYX · TECHNOLOGY · SOFTWARE - APPLICATION
$94.05
+3.36% today
Updated 2026-04-29
Market cap
$33.70B
P/E ratio
20.76
P/S ratio
8.49x
EPS (TTM)
$4.53
Dividend yield
—
52W range
$85 – $157
Volume
4.1M
Paychex Inc (PAYX) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.67B | $1.89B | $2.07B | $2.08B | $2.00B | $2.08B | $2.23B | $2.33B | $2.52B | $2.74B | $2.95B | $3.15B | $3.38B | $3.77B | $4.04B | $4.06B | $4.61B | $5.01B | $5.28B | $5.57B |
| Revenue growth (YoY) | — | +12.7% | +9.5% | +0.8% | -3.9% | +4.2% | +7.0% | +4.3% | +8.3% | +8.8% | +7.7% | +6.8% | +7.3% | +11.6% | +7.1% | +0.4% | +13.7% | +8.6% | +5.4% | +5.6% |
| Cost of revenue | $560.25M | $615.48M | $660.74M | $680.52M | $653.59M | $653.60M | $680.80M | $671.30M | $732.50M | $808.00M | $857.10M | $919.60M | $1.02B | $1.18B | $1.28B | $1.27B | $1.36B | $1.45B | $1.48B | $1.54B |
| Gross profit | $1.11B | $1.27B | $1.41B | $1.40B | $1.35B | $1.43B | $1.55B | $1.65B | $1.79B | $1.93B | $2.09B | $2.23B | $2.36B | $2.59B | $2.76B | $2.79B | $3.26B | $3.55B | $3.80B | $4.03B |
| Gross margin | 66.5% | 67.4% | 68.0% | 67.3% | 67.3% | 68.6% | 69.5% | 71.1% | 70.9% | 70.5% | 71.0% | 70.8% | 69.9% | 68.8% | 68.3% | 68.7% | 70.6% | 71.0% | 72.0% | 72.4% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $464.77M | $569.94M | $577.32M | $597.04M | $622.44M | $644.30M | $695.10M | $750.10M | $803.70M | $878.00M | $948.20M | $992.10M | $1.08B | $1.22B | $1.30B | $1.32B | $1.42B | $1.52B | $1.62B | $1.82B |
| Operating income | $649.75M | $701.55M | $828.27M | $805.20M | $724.79M | $786.40M | $853.90M | $904.80M | $982.70M | $1.05B | $1.15B | $1.24B | $1.29B | $1.37B | $1.46B | $1.46B | $1.84B | $2.03B | $2.17B | $2.21B |
| Operating margin | 38.8% | 37.2% | 40.1% | 38.7% | 36.2% | 37.7% | 38.3% | 38.9% | 39.0% | 38.5% | 38.8% | 39.3% | 38.1% | 36.3% | 36.1% | 36.0% | 39.9% | 40.6% | 41.2% | 39.6% |
| EBITDA | $744.16M | $798.53M | $935.43M | $897.85M | $815.75M | $875.10M | $945.30M | $996.40M | $1.08B | $1.15B | $1.26B | $1.38B | $1.43B | $1.56B | $1.67B | $1.65B | $2.03B | $2.21B | $2.43B | $2.49B |
| EBITDA margin | 44.4% | 42.3% | 45.3% | 43.1% | 40.8% | 42.0% | 42.4% | 42.8% | 43.0% | 42.1% | 42.6% | 43.8% | 42.3% | 41.3% | 41.3% | 40.7% | 44.1% | 44.1% | 46.1% | 44.7% |
| EBIT | $649.75M | $701.55M | $835.78M | $789.12M | $729.31M | $786.40M | $847.50M | $898.20M | $977.30M | $1.05B | $1.14B | $1.25B | $1.29B | $1.38B | $1.46B | $1.46B | $1.84B | $2.03B | $2.26B | $2.28B |
| Interest expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $100000.00 | $100000.00 | $1.10M | $700000.00 | $1.10M | $2.50M | $3.90M | $17.60M | $38.80M | $35.80M | $36.60M | $36.70M | $37.30M | $105.40M |
| Income tax | $209.85M | $227.82M | $278.67M | $278.53M | $252.31M | $276.90M | $312.30M | $342.40M | $360.60M | $385.10M | $394.30M | $427.50M | $362.40M | $333.60M | $339.00M | $336.70M | $431.80M | $490.90M | $527.60M | $518.60M |
| Effective tax rate | 31.1% | 30.7% | 32.6% | 34.3% | 34.6% | 35.0% | 36.3% | 37.6% | 36.5% | 36.3% | 34.3% | 34.3% | 28.0% | 24.4% | 23.6% | 23.5% | 23.7% | 24.0% | 23.8% | 23.8% |
| Net income | $464.91M | $515.45M | $576.14M | $533.54M | $477.00M | $515.30M | $548.00M | $569.00M | $627.50M | $674.90M | $756.80M | $817.30M | $933.70M | $1.03B | $1.10B | $1.10B | $1.39B | $1.56B | $1.69B | $1.66B |
| Net income growth (YoY) | — | +10.9% | +11.8% | -7.4% | -10.6% | +8.0% | +6.3% | +3.8% | +10.3% | +7.6% | +12.1% | +8.0% | +14.2% | +10.8% | +6.2% | -0.1% | +26.9% | +11.8% | +8.5% | -2.0% |
| Profit margin | 27.8% | 27.3% | 27.9% | 25.6% | 23.8% | 24.7% | 24.6% | 24.5% | 24.9% | 24.6% | 25.6% | 25.9% | 27.6% | 27.4% | 27.2% | 27.1% | 30.2% | 31.1% | 32.0% | 29.7% |