InsiderClue
Stocks · Industrials · Services-Engineering, Accounting, Research, Management

Paychex

PAYX Clue Score63
United States Fiscal year ends May CIK 0000723531
$103.98 -0.46% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $103.98 −11.39% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue3.10Operating income1.25EPS, diluted2.28Fiscal year 2018Revenue3.31 +6.8%Operating income1.29EPS, diluted2.75 +20.6%Fiscal year 2019Revenue3.69 +11.4%Operating income1.37EPS, diluted2.86 +4.0%Fiscal year 2020Revenue3.95 +7.1%Operating income1.46EPS, diluted3.04 +6.3%Fiscal year 2021Revenue4.00 +1.1%Operating income1.46EPS, diluted3.03 −0.3%Fiscal year 2022Revenue4.55 +13.9%Operating income1.84EPS, diluted3.84 +26.7%Fiscal year 2023Revenue4.91 +7.8%Operating income2.03EPS, diluted4.30 +12.0%Fiscal year 2024Revenue5.13 +4.6%Operating income2.17Net income1.69EPS, diluted4.67 +8.6%Fiscal year 2025Revenue5.41 +5.4%Operating income2.21Net income1.66 −2.0%EPS, diluted4.58 −1.9%Fiscal year 2026Revenue6.30 +16.5%Operating income2.51Net income1.76 +6.2%EPS, diluted4.89 +6.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 3.10 3.31 3.69 3.95 4.00 4.55 4.91 5.13 5.41 6.30
Growth +6.8% +11.4% +7.1% +1.1% +13.9% +7.8% +4.6% +5.4% +16.5%
Operating income 1.25 1.29 1.37 1.46 1.46 1.84 2.03 2.17 2.21 2.51
Net income n/a n/a n/a n/a n/a n/a n/a 1.69 1.66 1.76
Growth −2.0% +6.2%
EPS, diluted 2.28 2.75 2.86 3.04 3.03 3.84 4.30 4.67 4.58 4.89
Growth +20.6% +4.0% +6.3% −0.3% +26.7% +12.0% +8.6% −1.9% +6.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin40.4%Free cash flow margin27.9%Fiscal year 2018Operating margin39.0%Free cash flow margin33.9%Fiscal year 2019Operating margin37.1%Free cash flow margin31.1%Fiscal year 2020Operating margin36.9%Free cash flow margin33.2%Fiscal year 2021Operating margin36.5%Free cash flow margin28.6%Fiscal year 2022Operating margin40.4%Free cash flow margin32.0%Fiscal year 2023Operating margin41.4%Free cash flow margin31.9%Fiscal year 2024Operating margin42.4%Net margin32.9%Free cash flow margin33.8%Fiscal year 2025Operating margin40.8%Net margin30.6%Free cash flow margin31.6%Fiscal year 2026Operating margin39.8%Net margin27.9%Free cash flow margin36.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating margin 40.4% 39.0% 37.1% 36.9% 36.5% 40.4% 41.4% 42.4% 40.8% 39.8%
Net margin n/a n/a n/a n/a n/a n/a n/a 32.9% 30.6% 27.9%
Free cash flow margin 27.9% 33.9% 31.1% 33.2% 28.6% 32.0% 31.9% 33.8% 31.6% 36.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow0.96Capital expenditure−0.09Free cash flow0.87Buybacks−0.17Dividends paid−0.66Fiscal year 2018Operating cash flow1.28Capital expenditure−0.15Free cash flow1.12 +29.6%Buybacks−0.14Dividends paid−0.74Fiscal year 2019Operating cash flow1.27Capital expenditure−0.12Free cash flow1.15 +2.3%Buybacks−0.06Dividends paid−0.83Fiscal year 2020Operating cash flow1.44Capital expenditure−0.13Free cash flow1.31 +14.5%Buybacks−0.17Dividends paid−0.89Fiscal year 2021Operating cash flow1.26Capital expenditure−0.12Free cash flow1.14 −13.1%Buybacks−0.16Dividends paid−0.91Fiscal year 2022Operating cash flow1.59Capital expenditure−0.13Free cash flow1.46 +27.5%Buybacks−0.15Dividends paid−1.00Fiscal year 2023Operating cash flow1.71Capital expenditure−0.14Free cash flow1.56 +7.4%Buybacks0.00Dividends paid−1.18Fiscal year 2024Operating cash flow1.90Capital expenditure−0.16Free cash flow1.74 +11.1%Buybacks−0.17Dividends paid−1.32Fiscal year 2025Operating cash flow1.90Capital expenditure−0.19Free cash flow1.71 −1.6%Buybacks−0.10Dividends paid−1.45Fiscal year 2026Operating cash flow2.56Capital expenditure−0.23Free cash flow2.32 +35.8%Buybacks−0.61Dividends paid−1.59
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 0.96 1.28 1.27 1.44 1.26 1.59 1.71 1.90 1.90 2.56
Capital expenditure −0.09 −0.15 −0.12 −0.13 −0.12 −0.13 −0.14 −0.16 −0.19 −0.23
Free cash flow 0.87 1.12 1.15 1.31 1.14 1.46 1.56 1.74 1.71 2.32
Growth +29.6% +2.3% +14.5% −13.1% +27.5% +7.4% +11.1% −1.6% +35.8%
Buybacks −0.17 −0.14 −0.06 −0.17 −0.16 −0.15 0.00 −0.17 −0.10 −0.61
Dividends paid −0.66 −0.74 −0.83 −0.89 −0.91 −1.00 −1.18 −1.32 −1.45 −1.59

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.18Shareholders’ equity2.23Fiscal year 2018Cash0.36Total debt0.00Net cash (debt)0.36Shareholders’ equity2.36Debt to equity0.00Fiscal year 2019Cash0.67Total debt0.80Net cash (debt)−0.12Shareholders’ equity2.62Debt to equity0.30Fiscal year 2020Cash0.91Total debt0.80Net cash (debt)0.11Shareholders’ equity2.78Debt to equity0.29Fiscal year 2021Cash1.00Total debt0.80Net cash (debt)0.20Shareholders’ equity2.95Debt to equity0.27Fiscal year 2022Cash0.37Total debt0.80Net cash (debt)−0.43Shareholders’ equity3.09Debt to equity0.26Fiscal year 2023Cash1.22Total debt0.80Net cash (debt)0.42Shareholders’ equity3.49Debt to equity0.23Fiscal year 2024Cash1.47Total debt0.80Net cash (debt)0.67Shareholders’ equity3.80Debt to equity0.21Fiscal year 2025Cash1.63Total debt4.95Net cash (debt)−3.32Shareholders’ equity4.13Debt to equity1.20Fiscal year 2026Cash1.09Total debt4.56Net cash (debt)−3.47Shareholders’ equity3.74Debt to equity1.22
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 0.18 0.36 0.67 0.91 1.00 0.37 1.22 1.47 1.63 1.09
Total debt n/a 0.00 0.80 0.80 0.80 0.80 0.80 0.80 4.95 4.56
Net cash (debt) n/a 0.36 −0.12 0.11 0.20 −0.43 0.42 0.67 −3.32 −3.47
Shareholders’ equity 2.23 2.36 2.62 2.78 2.95 3.09 3.49 3.80 4.13 3.74
Debt to equity n/a 0.00 0.30 0.29 0.27 0.26 0.23 0.21 1.20 1.22

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending May, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 May 2017 FY2018 31 May 2018 FY2019 31 May 2019 FY2020 31 May 2020 FY2021 31 May 2021 FY2022 31 May 2022 FY2023 31 May 2023 FY2024 31 May 2024 FY2025 31 May 2025 FY2026 31 May 2026
Revenue and profit
3.10 3.31 3.69 3.95 4.00 4.55 4.91 5.13 5.41 6.30
Growth +6.8% +11.4% +7.1% +1.1% +13.9% +7.8% +4.6% +5.4% +16.5%
n/a 1.02 1.18 1.28 1.27 1.36 1.45 1.48 1.54 1.67
0.98 1.07 1.22 1.30 1.32 1.42 1.52 1.62 1.82 2.33
1.25 1.29 1.37 1.46 1.46 1.84 2.03 2.17 2.21 2.51
Growth +3.0% +6.2% +6.5% +0.0% +26.0% +10.5% +6.9% +1.5% +13.7%
1.26 1.30 1.37 1.44 1.43 1.82 2.05 2.22 2.18 2.31
0.43 0.31 0.33 0.34 0.34 0.43 0.49 0.53 0.52 0.55
n/a n/a n/a n/a n/a n/a n/a 1.69 1.66 1.76
Growth −2.0% +6.2%
Per share
2.30 2.77 2.88 3.06 3.05 3.86 4.32 4.69 4.60 4.90
2.28 2.75 2.86 3.04 3.03 3.84 4.30 4.67 4.58 4.89
Growth +20.6% +4.0% +6.3% −0.3% +26.7% +12.0% +8.6% −1.9% +6.8%
359.8 359.0 359.2 358.5 359.9 360.6 360.4 360.3 360.2 358.9
362.6 361.5 361.8 361.0 362.1 363.1 362.3 362.1 362.0 360.0
Growth −0.3% +0.1% −0.2% +0.3% +0.3% −0.2% −0.1% −0.0% −0.6%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.5% a year over five years, and earnings per share grew 10.0% a year.
  • The share count barely moved in five years.
  • Operating margin is up 3.3 points on five years ago, at 39.8%.
  • Profitable in every one of the 3 years on file.