In fiscal 2026, which ended May 31, 2026, Paychex, Inc. reported revenue of $6.3 billion, up 16.5% from the year before. Net income was $1.8 billion, a profit margin of 27.9%. Operating income came to $2.5 billion, an operating margin of 39.8%. Diluted earnings per share were $4.89. Over the twelve months ended Aug 31, 2026, revenue was $6.4 billion and net income was $1.8 billion. Across the 10 fiscal years shown, revenue grew from $3.2 billion in fiscal 2017 to $6.3 billion in fiscal 2026, about 8.0% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2027
Aug 31, 2026
|
FY 2026
May 31, 2026
|
FY 2025
May 31, 2025
|
FY 2024
May 31, 2024
|
FY 2023
May 31, 2023
|
FY 2022
May 31, 2022
|
FY 2021
May 31, 2021
|
FY 2020
May 31, 2020
|
FY 2019
May 31, 2019
|
FY 2018
May 31, 2018
|
FY 2017
May 31, 2017
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
6,389
+13.7%
|
6,301
+16.5%
|
5,410
+5.4%
|
5,132
+4.6%
|
4,907
+7.8%
|
4,554
+13.9%
|
3,998
+1.1%
|
3,954
+7.1%
|
3,692
+9.3%
|
3,378
+7.1%
|
3,153
+6.8%
|
| Cost of revenue |
1,691
+7.4%
|
1,674
+8.7%
|
1,540
+4.1%
|
1,479
+1.8%
|
1,453
+7.1%
|
1,356
+6.7%
|
1,271
-0.7%
|
1,281
|
—
|
—
|
—
|
| Gross profit |
4,699
+16.1%
|
4,627
+19.6%
|
3,870
+5.9%
|
3,653
+5.7%
|
3,454
+8.0%
|
3,198
+17.3%
|
2,726
+2.0%
|
2,673
|
—
|
—
|
—
|
| Selling, general and administrative |
2,324
+15.3%
|
2,327
+27.6%
|
1,824
+12.2%
|
1,625
+6.8%
|
1,521
+7.5%
|
1,415
+6.8%
|
1,325
+2.0%
|
1,299
+6.2%
|
1,223
+14.6%
|
1,068
+9.0%
|
980
+3.3%
|
| Operating income |
2,588
+17.5%
|
2,510
+13.7%
|
2,208
+1.5%
|
2,174
+6.9%
|
2,033
+10.5%
|
1,840
+26.0%
|
1,461
+0.0%
|
1,460
+6.5%
|
1,371
+6.2%
|
1,292
+3.0%
|
1,254
+9.4%
|
| Interest expense |
266
|
270
+155.7%
|
105
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Other income (expense) |
57
|
70
-5.0%
|
74
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Pretax income |
2,378
+12.4%
|
2,311
+6.2%
|
2,176
-1.9%
|
2,218
+8.3%
|
2,048
+12.3%
|
1,825
+27.2%
|
1,434
-0.2%
|
1,437
+5.1%
|
1,368
+5.2%
|
1,300
+3.3%
|
1,259
+9.4%
|
| Income tax |
572
+13.9%
|
551
+6.2%
|
519
-1.7%
|
528
+7.5%
|
491
+13.7%
|
432
+28.2%
|
337
-0.7%
|
339
+1.6%
|
334
+9.0%
|
306
-29.3%
|
433
+9.8%
|
| Net income |
1,806
|
1,760
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Basic EPS |
5.05
+12.7%
|
4.90
+6.5%
|
4.60
-1.9%
|
4.69
+8.6%
|
4.32
+11.9%
|
3.86
+26.6%
|
3.05
-0.3%
|
3.06
+6.3%
|
2.88
+4.0%
|
2.77
+20.4%
|
2.30
+9.5%
|
| Diluted EPS |
5.04
+13.0%
|
4.89
+6.8%
|
4.58
-1.9%
|
4.67
+8.6%
|
4.30
+12.0%
|
3.84
+26.7%
|
3.03
-0.3%
|
3.04
+6.3%
|
2.86
+4.0%
|
2.75
+20.6%
|
2.28
+9.1%
|
| Weighted average shares, basic |
358
-0.7%
|
359
-0.4%
|
360
-0.0%
|
360
-0.0%
|
360
-0.1%
|
361
+0.2%
|
360
+0.4%
|
358
-0.2%
|
359
+0.1%
|
359
-0.2%
|
360
-0.2%
|
| Weighted average shares, diluted |
359
-0.9%
|
360
-0.6%
|
362
-0.0%
|
362
-0.1%
|
362
-0.2%
|
363
+0.3%
|
362
+0.3%
|
361
-0.2%
|
362
+0.1%
|
362
-0.3%
|
363
+0.0%
|
| Other measures | |||||||||||
| Depreciation and amortization |
443
+58.4%
|
443
+111.3%
|
210
+18.7%
|
176
-0.1%
|
177
-7.9%
|
192
-0.1%
|
192
-8.4%
|
210
+15.5%
|
182
+31.5%
|
138
+8.7%
|
127
+10.3%
|
| EBITDA |
3,031
+22.1%
|
2,953
+22.2%
|
2,417
+2.8%
|
2,351
+6.4%
|
2,210
+8.8%
|
2,032
+22.9%
|
1,653
-1.0%
|
1,670
+7.6%
|
1,553
+8.6%
|
1,430
+3.5%
|
1,381
+9.4%
|
| Interest coverage |
9.71x
|
9.32x
|
20.95x
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Margins | |||||||||||
| Gross margin |
73.54%
|
73.43%
|
71.53%
|
71.17%
|
70.39%
|
70.22%
|
68.20%
|
67.60%
|
—
|
—
|
—
|
| Operating margin |
40.50%
|
39.84%
|
40.81%
|
42.36%
|
41.43%
|
40.40%
|
36.54%
|
36.94%
|
37.14%
|
38.24%
|
39.77%
|
| Pretax margin |
37.22%
|
36.67%
|
40.22%
|
43.22%
|
41.74%
|
40.07%
|
35.88%
|
36.35%
|
37.05%
|
38.49%
|
39.93%
|
| Profit margin |
28.27%
|
27.93%
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| EBITDA margin |
47.44%
|
46.87%
|
44.68%
|
45.80%
|
45.03%
|
44.62%
|
41.34%
|
42.25%
|
42.06%
|
42.32%
|
43.79%
|
| Effective tax rate |
24.07%
|
23.83%
|
23.83%
|
23.79%
|
23.97%
|
23.67%
|
23.48%
|
23.59%
|
24.39%
|
23.54%
|
34.37%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Services-Engineering, Accounting, Research, Management (SIC 8700)
- Listed as
- PAYX (Nasdaq)
- Fiscal year ends
- May 31
- Incorporated in
- DE
- Headquarters
- Rochester, NY
- SEC filer status
- Large accelerated filer
- SEC CIK
- 723531
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Source: SEC EDGAR filings. This is company-reported data, not investment advice.