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Paychex Inc (PAYX) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · Human Resource & Employment Services · DATA UPDATED 2026-07-14

Paychex Inc (PAYX) operates in the Human Resource & Employment Services industry and is headquartered in Rochester, United States with about 17,600 employees. Its market capitalization is roughly $40 billion. In the fiscal year ended 2026-05-31, PAYX reported $6.5B in revenue and $1.8B in net income.

Paychex, Inc., together with its subsidiaries, provides human capital management solutions (HCM) for human resources, payroll processing, employee benefits, and insurance services for small to medium-sized businesses in the United States, Europe, Canada, India, and Israel.

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PAYX Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-05-31	2026-05-31	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31	2012-05-31	2011-05-31	2010-05-31	2009-05-31	2008-05-31	2007-05-31
Total Revenue	$6.5B	$6.5B	$5.6B	$5.3B	$5.0B	$4.6B	$4.1B	$4.0B	$3.8B	$3.4B	$3.2B	$3.0B	$2.7B	$2.5B	$2.3B	$2.2B	$2.1B	$2.0B	$2.1B	$2.1B	$1.9B
Gross Profit	$4.8B	$4.8B	$4.0B	$3.8B	$3.6B	$3.3B	$2.8B	$2.8B	$2.6B	$2.4B	$2.2B	$2.1B	$1.9B	$1.8B	$1.7B	$1.5B	$1.4B	$1.3B	$1.4B	$1.4B	$1.3B
Gross Margin %	74.3%	74.3%	72.4%	72.0%	71.0%	70.6%	68.7%	68.3%	68.8%	69.9%	70.8%	71.0%	70.5%	70.9%	71.1%	69.5%	68.6%	67.3%	67.3%	68.0%	67.4%
Operating Income (EBIT)	$2.5B	$2.5B	$2.2B	$2.2B	$2.0B	$1.8B	$1.5B	$1.5B	$1.4B	$1.3B	$1.2B	$1.1B	$1.1B	$983M	$905M	$854M	$786M	$725M	$805M	$828M	$702M
Operating Margin %	38.6%	38.6%	39.6%	41.2%	40.6%	39.9%	36.0%	36.1%	36.4%	38.1%	39.3%	38.8%	38.5%	39.0%	38.9%	38.3%	37.7%	36.2%	38.7%	40.1%	37.2%
Net Income	$1.8B	$1.8B	$1.7B	$1.7B	$1.6B	$1.4B	$1.1B	$1.1B	$1.0B	$934M	$817M	$757M	$675M	$628M	$569M	$548M	$515M	$477M	$534M	$576M	$515M
Net Margin %	27.0%	27.0%	29.7%	32.0%	31.1%	30.2%	27.1%	27.2%	27.4%	27.6%	25.9%	25.6%	24.6%	24.9%	24.5%	24.6%	24.7%	23.8%	25.6%	27.9%	27.3%
EBITDA	$3.0B	$3.0B	$2.5B	$2.4B	$2.3B	$2.1B	$1.7B	$1.7B	$1.6B	$1.4B	$1.4B	$1.3B	$1.2B	$1.1B	$996M	$945M	$875M	$816M	$898M	$935M	$799M
Earnings Per Share (EPS)	$4.88	$4.89	$4.58	$4.67	$4.30	$3.84	$3.03	$3.04	$2.86	$2.58	$2.25	$2.09	$1.85	$1.71	$1.56	$1.51	$1.42	$1.32	$1.48	$1.56	$1.35
Shares Outstanding (M)	358M	360M	362M	362M	362M	363M	362M	361M	362M	362M	363M	362M	365M	366M	365M	363M	362M	362M	361M	370M	383M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PAYX Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-05-31	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31
Total Revenue	$1.6B	$1.8B	$1.6B	$1.5B	$1.4B	$1.5B	$1.3B	$1.3B
Gross Profit	$1.2B	$1.4B	$1.1B	$1.1B	$1.0B	$1.1B	$938M	$938M
Gross Margin %	74.0%	76.2%	73.5%	73.1%	72.4%	74.3%	71.2%	71.2%
Operating Income (EBIT)	$605M	$792M	$572M	$542M	$431M	$692M	$538M	$547M
Operating Margin %	37.7%	43.8%	36.7%	35.2%	30.2%	45.8%	40.9%	41.5%
Net Income	$421M	$560M	$395M	$384M	$297M	$519M	$413M	$427M
Net Margin %	26.2%	31.0%	25.4%	24.9%	20.8%	34.4%	31.4%	32.4%
EBITDA	$728M	$918M	$698M	$675M	$539M	$752M	$595M	$606M
Earnings Per Share (EPS)	$1.17	$1.55	$1.09	$1.06	$0.82	$1.43	$1.14	$1.18
Shares Outstanding (M)	358M	361M	361M	362M	362M	362M	362M	362M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PAYX Free Cash Flow History

Cash flow	TTM → 2026-05-31	2026-05-31	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31	2012-05-31	2011-05-31	2010-05-31	2009-05-31	2008-05-31	2007-05-31
Cash from Operations (CFO)	$2.6B	$2.6B	$2.0B	$1.9B	$1.7B	$1.5B	$1.3B	$1.4B	$1.3B	$1.3B	$960M	$1.0B	$895M	$881M	$675M	$707M	$715M	$611M	$689M	$725M	$631M
Capital Expenditures (CapEx)	$235M	$235M	$192M	$161M	$143M	$133M	$115M	$127M	$124M	$154M	$94M	$98M	$103M	$84M	$99M	$90M	$103M	$61M	$65M	$82M	$79M
Free Cash Flow (FCF)	$2.3B	$2.3B	$1.8B	$1.7B	$1.6B	$1.4B	$1.1B	$1.3B	$1.1B	$1.1B	$866M	$920M	$792M	$797M	$577M	$617M	$612M	$550M	$624M	$642M	$552M
FCF Margin %	35.6%	35.6%	31.6%	32.9%	31.1%	29.8%	28.2%	32.5%	30.4%	33.2%	27.5%	31.2%	28.9%	31.6%	24.8%	27.7%	29.4%	27.5%	30.0%	31.1%	29.3%
Dividends Paid	$1.6B	$1.6B	$1.4B	$1.3B	$1.2B	$1.0B	$909M	$889M	$827M	$740M	$662M	$606M	$552M	$511M	$477M	$460M	$449M	$449M	$448M	$442M	$301M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PAYX Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-05-31	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31
Cash from Operations (CFO)	$581M	$812M	$445M	$718M	$405M	$716M	$295M	$546M
Capital Expenditures (CapEx)	$66M	$51M	$62M	$56M	$60M	$49M	$47M	$36M
Free Cash Flow (FCF)	$515M	$762M	$383M	$662M	$345M	$667M	$248M	$510M
FCF Margin %	32.1%	42.1%	24.6%	43.0%	24.2%	44.2%	18.8%	38.7%
Dividends Paid	$425M	$388M	$388M	$389M	$389M	$353M	$353M	$353M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PAYX Balance Sheet History

Balance sheet	2026-05-31	2026-05-31	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31	2012-05-31	2011-05-31	2010-05-31	2009-05-31	2008-05-31	2007-05-31
Total Assets	$16.2B	$16.2B	$16.6B	$10.4B	$10.5B	$9.6B	$9.2B	$8.6B	$8.7B	$7.5B	$6.8B	$6.4B	$6.5B	$6.4B	$6.2B	$6.5B	$5.4B	$5.2B	$5.1B	$5.3B	$6.2B
Cash & Cash Equivalents	$1.1B	$1.1B	$1.6B	$1.5B	$1.2B	$370M	$995M	$905M	$674M	$358M	$185M	$132M	$170M	$152M	$107M	$109M	$119M	$284M	$473M	$164M	$79M
Total Liabilities	$12.4B	$12.4B	$12.4B	$6.6B	$7.1B	$6.5B	$6.3B	$5.8B	$6.1B	$5.6B	$4.9B	$4.5B	$4.7B	$4.6B	$4.4B	$4.9B	$3.9B	$3.8B	$3.8B	$4.1B	$4.3B
Total Debt (Short + Long-Term)	$0M	$0M	$5.0B	$817M	$808M	$806M	$834M	$802M	$796M	$325M	$280M	$248M	$0M	$171M	$146M	$145M	$187M	$3.5B	$45M	$133M	$125M
Total Shareholders' Equity	$3.7B	$3.7B	$4.1B	$3.8B	$3.5B	$3.1B	$2.9B	$2.8B	$2.6B	$2.0B	$2.0B	$1.9B	$1.8B	$1.8B	$1.8B	$1.6B	$1.5B	$1.4B	$1.3B	$1.2B	$2.0B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive PAYX viewer.

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