What is Paychex's D&A?

Paychex (PAYX) reported D&A of $111M in Q4 2025.

How has Paychex's D&A changed year-over-year?

Paychex's D&A increased by 157.5% year-over-year, from $43.1M to $111M.

What is the long-term trend for Paychex's D&A?

Over 3 years (2022 to 2025), Paychex's D&A has grown at a 3.0% compound annual growth rate (CAGR), from $191.8M to $209.5M.

Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

Paychex PAYX D&A

D&A at other companies

Automatic Data Processing, Inc.ADP

$146.4M-0.5%

Asure SoftwareASUR

$7.07M+18.4%

Barrett Business ServicesBBSI

$2.17M+11.0%

Trinet GroupTNET

$17M0.0%

InsperityNSP

$11M0.0%

Workday, Inc.WDAY

$92M+9.5%

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

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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:DepreciationDepletionAndAmortization.

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 D&A?: Paychex (PAYX) reported D&A of $111M in Q4 2025.
How has Paychex's D&A changed year-over-year?: Paychex's D&A increased by 157.5% year-over-year, from $43.1M to $111M.
What is the long-term trend for Paychex's D&A?: Over 3 years (2022 to 2025), Paychex's D&A has grown at a 3.0% compound annual growth rate (CAGR), from $191.8M to $209.5M.
What does D&A mean?: Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.