What is Paychex's accrued expenses?

Paychex (PAYX) reported accrued expenses of $176.7M in Q4 2025.

How has Paychex's accrued expenses changed year-over-year?

Paychex's accrued expenses increased by 12.0% year-over-year, from $157.8M to $176.7M.

What is the long-term trend for Paychex's accrued expenses?

Over 4 years (2021 to 2025), Paychex's accrued expenses has grown at a -3.2% compound annual growth rate (CAGR), from $209.7M to $183.9M.

What does accrued expenses mean?

Expenses incurred but not yet paid or invoiced — interest accruals, tax accruals, warranty reserves, and other timing differences.

Paychex PAYX Accrued Expenses

Accrued Expenses at other companies

Asure SoftwareASUR

$4.43M+52.0%

Barrett Business ServicesBBSI

$9.62M+0.2%

InsperityNSP

$91M+1.1%

Workday, Inc.WDAY

$508M-7.3%

Paycom SoftwarePAYC

$87.7M+20.0%

PaylocityPCTY

$106.25M+2.1%

Other financials

Income statement

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Revenue$1.6B+12.5%

Gross profit$1.4B+22.8%

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

See full

Operating cash flow$580.9M+69.0%

CapEx$65.9M+8.9%

Free cash flow$515.0M+81.8%

Valuation

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Market cap$34.97B-25.6%

Enterprise value$38.49B-23.2%

P/E19.9×-8.5×

P/S5.4×-3.1×

Profitability

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Gross margin73.9%+1.9pp

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×

Where this comes from

Reported directly by Paychex in its filing.

Tagged under the XBRL concept us-gaap:EmployeeRelatedLiabilitiesCurrent.

The official record: Paychex’s 10-Q, filed March 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Paychex's accrued expenses?: Paychex (PAYX) reported accrued expenses of $176.7M in Q4 2025.
How has Paychex's accrued expenses changed year-over-year?: Paychex's accrued expenses increased by 12.0% year-over-year, from $157.8M to $176.7M.
What is the long-term trend for Paychex's accrued expenses?: Over 4 years (2021 to 2025), Paychex's accrued expenses has grown at a -3.2% compound annual growth rate (CAGR), from $209.7M to $183.9M.
What does accrued expenses mean?: Expenses incurred but not yet paid or invoiced — interest accruals, tax accruals, warranty reserves, and other timing differences.