Income StatementBalance SheetCash FlowSegments
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Paychex Income Statement

Revenue, expenses, and profitability over time

Paychex generated $6.3B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $1.6B with a 25.84% net margin. Gross margin stands at 73.93% and operating margin at 36.9%. Diluted EPS is $4.55, which declined 0.1% year-over-year. Based on the Q4 2025 filing.

Total Revenue (TTM)$6.3BGross Profit (TTM)$4.7BOperating Income (TTM)$2.3BNet Income (TTM)$1.6BEps Diluted (TTM)$4.55
Latest FilingQ4 2025
Report Date2026-03-26
Market Cap$31.8B
P/E Ratio19.45
ROE40.26%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$16.4M$17.6M$61.3M$26.8M$25.5M$23.1M
Share-Based Compensation Expense$16.4M$17.6M$61.3M$26.8M$25.5M$23.1M
Depreciation and amortization$41.7M$43.1M$85.7M$109.3M$109.1M$111.0M
Amortization of Contract Acquisition Assets$58.8M$59.3M$59.9M$60.4M$61.4M$62.8M
Stock-based compensation expense$16.4M$17.6M$61.3M$26.8M$25.5M$23.1M
Share-Based Compensation$16.4M$17.6M$61.3M$26.8M$25.5M$23.1M
Amortization of Deferred Costs$58.8M$59.3M$59.9M$60.4M$61.4M$62.8M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital Expenditures$47.0M$48.7M$60.5M$55.9M$62.1M$51.0M
Change in Accounts Receivable$32.2M$31.3M$30.8M$18.9M$37.2M$11.0M
Change in Deferred Charges$56.2M$65.9M$72.8M$68.5M$80.1M$96.1M
Accretion (Amortization) of Discounts and Premiums, Investments$2.8M-$10.7M-$18.3M$2.1M$2.0M$1.6M
Total net securities (losses)-$0.0-$400.0K$0.0-$0.0$7.1M$300.0K
Deferred taxes$1.5M-$6.6M$0.0$66.0M$11.2M$21.8M
Gain/(loss) on dispositions, net-$925.0K-$925.0K-$925.0K———
Accounts payable and other current liabilities-$58.9M$101.1M—$124.9M-$2.6M$109.7M
Increase (Decrease) in Accounts Receivable$32.2M$31.3M$30.8M$18.9M$37.2M$11.0M
Increase Decrease In Accrued Interest Receivable Net$800.0K-$1.1M$4.5M$6.1M$1.0M$2.0M
Increase (Decrease) in Deferred Charges$56.2M$65.9M$72.8M$68.5M$80.1M$96.1M
Increase (Decrease) in Other Noncurrent Assets and Liabilities, Net-$5.6M-$11.4M—-$6.3M-$4.9M$1.4M
Increase (Decrease) in Prepaid Expense and Other Assets$95.2M-$71.2M$14.3M-$29.5M$37.3M-$20.3M
Interest Expense Nonoperating$9.5M$22.6M$63.7M$68.2M$68.5M$68.1M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$291.4M-$2.7M$3.1B-$515.4M-$582.4M$235.3M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$192.7M$21.0M-$3.1B-$1.3B$376.3M$1.4M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$295.0M$716.0M$343.8M$718.4M$444.9M$812.5M
Payments for Repurchase of Common Stock$500.0K$0.0$0.0$160.1M$126.5M$75.0M
Payments of Ordinary Dividends, Common Stock$352.8M$353.0M$389.3M$389.1M$387.9M$388.0M
Payments to Acquire Businesses, Net of Cash Acquired$0.0$0.0$3.0B$200.0K$100.0K$100.0K
Payments to Acquire Other Productive Assets$2.5M$9.2M$5.5M$15.0M$4.5M$5.5M
Payments to Acquire Property, Plant, and Equipment$47.0M$48.7M$60.5M$55.9M$62.1M$51.0M
Proceeds from sales and redemptions of investments in debt securities classified as available for sale$4.2B$3.3B$5.8B$2.5B$3.3B$4.2B
Proceeds from Short-Term Debt$0.0$0.0$0.0———
Net additions (releases) charged to costs and expenses$4.9M$5.2M$6.6M$7.7M$4.5M$16.9M
Stock-based compensation$16.4M$17.6M$61.3M$26.8M$25.5M$23.1M
Cash Dividends, Common Stock$352.8M$353.0M$389.3M$389.1M$387.9M$388.0M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends$352.8M$353.0M$389.3M$389.1M$387.9M$388.0M
Net income$413.4M$519.3M$297.2M$383.8M$395.4M$560.3M
Common Stock Dividends$352.8M$353.0M$389.3M$389.1M$387.9M$388.0M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$937.8M$1.1B$1.0B$1.1B$1.1B$1.4B

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accretion (Amortization) of Investment Discounts and Premiums$2.8M-$10.7M-$18.3M$2.1M$2.0M$1.6M
Other income (expense), net$15.1M$16.6M$21.9M$23.8M$16.8M$15.1M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total interest income$36.1M$42.9M$45.2M$47.6M$54.3M$56.8M