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Paychex

PAYX

Paychex is a leading provider of integrated human capital management (HCM) solutions, offering technology and advisory services for human resources, payroll, benefits, and insurance.

Market cap
$37.9B-28.5%
Revenue$6.5B+16.9%
Net income$1.8B+6.2%
Free cash flow$2.3B+35.9%
EPS (diluted)$4.89+7.0%
Trailing twelve months · change vs. prior year

Earnings

Next report

Sep 29, 2026 (in 3 months)
Revenue estimate$1.6B
EPS estimate$1.33

Financials

Q4 2026

Income statement

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Revenue$1.6B+12.5%
Operating income$604.7M+40.3%
Net income$420.6M+41.5%
EPS (diluted)$1.17+42.7%

Balance sheet

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Cash & equivalents$1.1B-33.2%
Total debt$4.6B-0.8%
Total equity$3.7B-9.5%
Total assets$16.2B-2.4%

Cash flow

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Operating cash flow$580.9M+69.0%
CapEx$65.9M+8.9%
Free cash flow$515.0M+81.8%

Valuation & ratios

Valuation

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Market cap$37.9B-28.5%
Enterprise value$41.42B-26.1%
P/E21.5×-10.5×
P/S5.8×-3.7×

Profitability

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Operating margin38.6%-1.1pp
Net margin27%-2.7pp
FCF margin35.7%+5.0pp

Returns & leverage

See full
Return on equity44.8%+3.0pp
Debt / equity1.2×+0.1×
Current ratio1.3×0.0×

Segments

By product

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Management Solutions$1.2B+13.6%
Peo And Insurance Solutions$369.7M+8.6%

Competitors

Profile

Paychex is a leading provider of integrated human capital management (HCM) solutions, offering technology and advisory services for human resources, payroll, benefits, and insurance. The company serves small to medium-sized businesses and larger enterprises across the U.S. and Europe, helping them navigate complex regulatory environments and evolving workforce dynamics. Its core value proposition centers on a cloud-based SaaS delivery model that combines advanced data analytics and AI with personalized HR expertise.

Competitive position

Paychex is a dominant market leader in the small business 401(k) recordkeeping and payroll space, differentiating itself through a high-touch service model combined with proprietary AI-driven technology.

GeographiesUnited States, Europe
Customer segmentsSMB, Enterprise, Accounting Firms, Financial Advisors
Business modelSubscription SaaS, Professional Services, BPO, Insurance Brokerage
SuppliersCloud infrastructure providers, Financial institutions for ACH and fund transfers, Insurance carriers, Data center operators
CustomersSmall and medium-sized businesses, Large enterprises, Accounting professionals, Benefit brokers
Listed1983
Employees16.5K
CEOJohn Gibson Jr.
FilingsSEC EDGAR

Questions, answered.

What is Paychex's market cap?
Paychex (PAYX) has a market capitalization of $37.9B and trades on NASDAQ.
What is Paychex's revenue and profitability?
Paychex generated $6.5B in trailing twelve-month revenue with net income of $1.8B, representing a net margin of 27.0%. Gross margin stands at 73.9%, with free cash flow of $2.3B. These figures are based on the Q2 2026 filing.
Who are Paychex's competitors?
Paychex's key competitors include ADP, Workday, Asure Software, Inc, and others. These companies compete in similar markets and product categories.
Who does Paychex partner with?
Paychex's notable partners include American Institute of Certified Public Accountants.
What subsidiaries does Paychex have?
Paychex's subsidiaries include Paycor HCM, Inc., Paychex Advance, LLC, Alterna Capital Solutions, LLC, and others.
Where is Paychex headquartered?
Paychex is headquartered in United States of America and employs approximately 16,500 people. It has been publicly traded since 1983.