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Paychex PAYX · USD
Information Technology · IT Services · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
114.76
-1.96%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$6.51bn
FY2017FY2026
Net income
$1.76bn
FY2017FY2026
Free cash flow
$2.32bn
FY2017FY2026
Shareholders' equity
$3.74bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.51bn | $5.57bn | $5.28bn | $5.01bn | $4.61bn | $4.06bn | $4.04bn | $3.77bn | $3.38bn | $3.15bn |
| Gross profit | $4.84bn | $4.03bn | $3.80bn | $3.55bn | $3.26bn | $2.79bn | $2.76bn | $2.59bn | $2.36bn | $2.23bn |
| Operating income | $2.51bn | $2.21bn | $2.17bn | $2.03bn | $1.84bn | $1.46bn | $1.46bn | $1.37bn | $1.29bn | $1.24bn |
| Net income | $1.76bn | $1.66bn | $1.69bn | $1.56bn | $1.39bn | $1.10bn | $1.10bn | $1.03bn | $933.7m | $817.3m |
| Diluted earnings per share | 4.94 | 4.59 | 4.67 | 4.30 | 3.84 | 3.02 | 3.03 | 2.87 | 2.58 | 2.26 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $16.17bn | $16.56bn | $10.38bn | $10.55bn | $9.64bn | $9.23bn | $8.55bn | $8.68bn | $7.46bn | $6.83bn |
| Cash and short-term investments | $1.18bn | $1.66bn | $1.50bn | $1.60bn | $1.22bn | $1.03bn | $932.4m | $712.6m | $424.2m | $323.4m |
| Total liabilities | $12.44bn | $12.44bn | $6.58bn | $7.05bn | $6.55bn | $6.28bn | $5.77bn | $6.06bn | $5.56bn | $4.88bn |
| Debt | $4.63bn | $5.02bn | $866.3m | $865.7m | $881.2m | $926.0m | $898.8m | $809.4m | $325.2m | $280.5m |
| Shareholders' equity | $3.74bn | $4.13bn | $3.80bn | $3.49bn | $3.09bn | $2.95bn | $2.78bn | $2.62bn | $2.02bn | $1.96bn |
| Shares outstanding | 357m | 361m | 362m | 362m | 362m | 363m | 362m | 361m | 362m | 361m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.56bn | $1.95bn | $1.90bn | $1.70bn | $1.51bn | $1.26bn | $1.44bn | $1.27bn | $1.28bn | $960.4m |
| Capital spending | −$234.9m | −$191.8m | −$161.4m | −$143.0m | −$132.6m | −$114.6m | −$127.0m | −$123.8m | −$154.0m | −$94.3m |
| Free cash flow | $2.32bn | $1.76bn | $1.74bn | $1.56bn | $1.37bn | $1.15bn | $1.31bn | $1.15bn | $1.12bn | $866.1m |
| Dividends paid | −$1.59bn | −$1.45bn | −$1.32bn | −$1.18bn | −$999.6m | −$908.7m | −$889.4m | −$826.8m | −$739.7m | −$662.3m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.63bn | $1.61bn | $1.81bn | $1.56bn | $1.54bn | $1.43bn | $1.51bn | $1.32bn |
| Gross profit | $1.20bn | $1.19bn | $1.38bn | $1.15bn | $1.13bn | $1.03bn | $1.12bn | $937.8m |
| Operating income | $619.2m | $604.7m | $792.0m | $571.9m | $541.9m | $431.1m | $691.8m | $538.1m |
| Net income | $429.7m | $420.6m | $560.3m | $395.4m | $383.8m | $297.2m | $519.3m | $413.4m |
| Diluted earnings per share | 1.20 | 1.18 | 1.57 | 1.09 | 1.06 | 0.82 | 1.44 | 1.14 |
| Cash from operations | $413.0m | $580.0m | $812.0m | $444.0m | $718.0m | $405.0m | $716.0m | $295.0m |
| Capital spending | −$56.0m | −$65.0m | −$51.0m | −$62.0m | −$55.0m | −$60.0m | −$48.0m | −$47.0m |
| Free cash flow | $357.0m | $515.0m | $761.0m | $382.0m | $663.0m | $345.0m | $668.0m | $248.0m |
| Total assets | $15.66bn | $16.17bn | $17.51bn | $16.52bn | $16.66bn | $16.56bn | $11.22bn | $10.55bn |
| Cash and short-term investments | $934.2m | $1.18bn | $1.83bn | $1.57bn | $1.67bn | $1.66bn | $1.60bn | $1.24bn |
| Debt | — | $4.58bn | $4.95bn | $4.97bn | $4.97bn | $4.97bn | $816.6m | $817.1m |
| Shareholders' equity | $3.71bn | $3.74bn | $4.01bn | $3.88bn | $3.97bn | $4.13bn | $4.12bn | $3.93bn |
Financial ratios
Data as of 21 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 74.3% | 72.4% | 72.0% | 71.0% | 70.6% | 68.7% |
| Operating margin | 38.6% | 39.6% | 41.2% | 40.6% | 39.9% | 36.0% |
| Net margin | 27.0% | 29.7% | 32.0% | 31.1% | 30.2% | 27.1% |
| Return on equity | 47.1% | 40.1% | 44.5% | 44.6% | 45.1% | 37.2% |
| Return on assets | 10.9% | 10.0% | 16.3% | 14.8% | 14.5% | 11.9% |
| Free cash flow yield | 6.7% | 5.1% | 4.9% | 4.4% | 3.9% | 3.3% |
| Revenue growth | 16.9% | 5.6% | 5.4% | 8.6% | 13.7% | 0.4% |
| Earnings growth | 6.2% | -2.0% | 8.5% | 11.8% | 26.9% | -0.1% |
| Current ratio | 1.26x | 1.28x | 1.37x | 1.30x | 1.25x | 1.25x |
| Debt to equity | 1.23x | 1.20x | 0.22x | 0.23x | 0.26x | 0.28x |
| Equity ratio | 23.1% | 24.9% | 36.6% | 33.1% | 32.0% | 31.9% |
| Interest coverage | 9.32x | 20.95x | 58.29x | 55.40x | 50.27x | 40.80x |
| Buybacks as a share of market value | 0.8% | 0.2% | 0.1% | 0.1% | 0.2% | -0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.2% | 9.9% | 8.2% |
| Operating income | 7.3% | 11.4% | 8.2% |
| Net income | 4.2% | 9.9% | 8.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 73.4% | 72.5% | 71.7% | 71.0% |
| Operating margin | 39.0% | 39.9% | 39.4% | 38.8% |
| Net margin | 28.3% | 29.8% | 29.5% | 28.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 24.1 | 24.4 | 30.0 | 27.7 | 30.1 | 45.2 | 30.7 | 29.6 | 25.2 | 30.1 |
| Price to sales | 6.5 | 7.3 | 9.6 | 8.6 | 9.1 | 12.2 | 8.3 | 8.1 | 7.0 | 7.8 |
Market value over time
31 Oct 2016 to 18 Sept 2026, in USD
$20.10bn$41.60bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -16% | 5% | 11% | -7% | 28% | 13% | 32% | -6% | 12% | 20% |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 26 Oct 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.38 | 4.43 | 4.02 | 3.65 | 3.26 | 2.77 | 2.52 | 2.48 |
- 3-for-2 split · 23 May 2000
- 3-for-2 split · 24 May 1999
- 3-for-2 split · 26 May 1998
- 3-for-2 split · 30 May 1997
- 3-for-2 split · 24 May 1996
- 3-for-2 split · 26 May 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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