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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	288%+1.5pp	286.5%+3.8pp	282.7%+1.3pp	281.3%+7.7pp
Operating margin	163.6%-0.5pp	164%+3.4pp	160.6%+2.9pp	157.8%+15.6pp
Net margin	125.7%-1.2pp	126.9%+4.4pp	122.5%-31.1pp	153.6%+34.5pp
EBITDA margin	176.9%-0.6pp	177.5%+1.8pp	175.7%+0.7pp	175%+12.9pp
Free cash flow margin	119.4%-23.1pp	142.5%+15.3pp	127.2%+3.9pp	123.3%+5.3pp
Returns
Return on equity	177.9%-10.9pp	188.8%+3.5pp	185.2%-38.7pp	223.9%+53.1pp
Return on assets	56.8%-3.7pp	60.5%-0.4pp	60.9%-11.4pp	72.3%+18.7pp
Return on invested capital	193%-23.3pp	216.4%+11.3pp	205.1%+0.1pp	205%-2.8pp
Efficiency
Asset turnover	1.8×-0.1×	1.9×-0.1×	2×+0.1×	1.9×+0.1×
Liquidity
Current ratio	5.4×+0.4×	5.1×-0.1×	5.2×+0.1×	5.1×+0.1×
Quick ratio	5.4×+0.4×	5.1×-0.1×	5.2×+0.1×	5.1×+0.1×
Cash ratio	1×+0.1×	0.9×0.0×	0.9×+0.1×	0.8×-0.5×
Leverage
Debt-to-equity	1.8×+0.8×	1×-0.1×	1.1×-0.1×	1.1×-0.1×
Debt-to-assets	0.5×+0.2×	0.3×-0.1×	0.4×0.0×	0.4×0.0×
Net debt / EBITDA	0.6×+1.7×	-1.2×-0.6×	-0.6×-0.2×	-0.4×+1.2×
Interest coverage	204.6×+40.6×	164×—	——	570×+414×
Per Share
Book value per share	$44.27+9.4%	$40.48+10.8%	$36.53+5.8%	$34.52+7.8%
Valuation
Market capitalization	$211.77B+20.8%	$175.36B+5.2%	$166.75B-3.0%	$171.95B+31.7%
Enterprise value	$213.16B+23.4%	$172.68B+4.4%	$165.44B-3.4%	$171.3B+34.0%
Price / earnings	124.4×+17.7×	106.7×-5.4×	112.1×+8.8×	103.3×-8.7×
Price / sales	39×+5.2×	33.8×-0.5×	34.3×-4.7×	39×+6.3×
Price / book	52.8×+4.9×	47.9×-2.7×	50.6×-4.3×	54.9×+9.9×
EV / EBITDA	88.8×+13.7×	75.1×-2.4×	77.5×-11.3×	88.7×+9.7×
EV / sales	39.3×+5.9×	33.3×-0.7×	34×-4.8×	38.8×+6.8×
Free cash flow yield	12.3%-4.6pp	16.8%+1.9pp	14.9%+2.3pp	12.7%-2.0pp
Earnings yield	12.9%-2.1pp	15%+0.6pp	14.4%-1.3pp	15.8%+1.2pp
Dividend yield	10.6%-1.0pp	11.5%+0.8pp	10.8%+1.9pp	8.9%-2.2pp

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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.