What are Paychex's profit margins?

Paychex (PAYX) runs a 73.9% gross margin and a 36.9% operating margin, with a 25.8% net margin.

Where do Paychex's ratios come from?

Every ratio is computed from Paychex's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Paychex PAYX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q3 '26	Q2 '26	Q1 '26	Q4 '25	Q3 '25
Profitability
Gross margin	73.9%+1.9pp	73.4%+1.6pp	72.8%+1.1pp	72.4%+0.4pp	72%+0.3pp
Operating margin	36.9%-4.6pp	37.1%-4.2pp	38%-3.1pp	39.6%-1.6pp	41.5%+0.4pp
Net margin	25.8%-6.1pp	26.4%-5.6pp	27.9%-4.1pp	29.7%-2.3pp	32%+0.1pp
Returns
Return on equity	40.3%-4.0pp	40.9%-5.3pp	41.3%-4.4pp	41.8%-4.5pp	44.3%-2.2pp
Return on invested capital	34.6%-19.8pp	32.1%-19.1pp	30.4%-24.5pp	32.5%-19.5pp	54.4%-1.0pp
Efficiency
Asset turnover	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×-0.1×	0.4×0.0×
Liquidity
Current ratio	1.3×-0.1×	1.3×-0.1×	1.3×-0.1×	1.3×-0.1×	1.4×+0.2×
Leverage
Debt-to-equity	1.1×+0.9×	1.2×+1.0×	1.2×+0.9×	1.1×+0.9×	0.2×0.0×
Net debt / EBITDA	1×+1.3×	1.2×+1.4×	1.5×+1.8×	1.2×+1.5×	-0.3×+0.1×
Per Share
Book value per share	$11.16-1.8%	$10.77-0.8%	$10.97+3.1%	$11.40+8.6%	$11.37+9.8%
Valuation
Market capitalization	$33.62B-38.4%	$40.2B-23.7%	$50.24B+6.4%	$57.26B+32.4%	$54.61B+23.7%
Price / earnings	20.5×-10.8×	25.2×-5.4×	31.1×+3.3×	34.5×+9.0×	31.4×+4.8×
Price / sales	5.3×-4.7×	6.7×-3.1×	8.7×-0.2×	10.3×+2.1×	10×+1.6×
Price / book	8.4×-4.9×	10.4×-3.1×	12.7×+0.4×	13.9×+2.5×	13.3×+1.5×
EV / EBITDA	13.3×-8.9×	16.8×-5.1×	21.8×+2.0×	24.9×+6.8×	22.2×+3.5×
Dividend yield	4.6%+2.0pp	3.8%+1.2pp	3%+0.1pp	2.5%-0.5pp	2.6%-0.3pp

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Questions, answered.

What are Paychex's profit margins?: Paychex (PAYX) runs a 73.9% gross margin and a 36.9% operating margin, with a 25.8% net margin.
Where do Paychex's ratios come from?: Every ratio is computed from Paychex's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.