Paychex (PAYX) financial statements

Technology · Software - Application · Market cap $39.0B

Paychex reported revenue of $6.3B in fiscal 2026, up 8.2% a year over 9 years.

Net income was $1.8B and the operating margin 39.8%, against 40.4% in 2017.

Free cash flow was $2.3B, and the company returned $1.6B in dividends and $611M in net buybacks.

Revenue and free cash flow

Fiscal years, $ billions.

024682017201820192020202120222023202420252026RevenueFree cash flow
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Income statement

Fiscal years, from Paychex's 10-K filings with the SEC.

Fiscal year2017201820192020202120222023202420252026
Revenue$3.1B$3.3B$3.7B$4.0B$4.0B$4.6B$4.9B$5.1B$5.4B$6.3B
Cost of revenue—$1.0B$1.2B$1.3B$1.3B$1.4B$1.5B$1.5B$1.5B$1.7B
Gross profit—$2.3B$2.5B$2.7B$2.7B$3.2B$3.5B$3.7B$3.9B$4.6B
Selling, general and admin$980M$1.1B$1.2B$1.3B$1.3B$1.4B$1.5B$1.6B$1.8B$2.3B
Operating income$1.3B$1.3B$1.4B$1.5B$1.5B$1.8B$2.0B$2.2B$2.2B$2.5B
Interest expense$2M$4M$18M$39M$36M$37M$37M$37M$105M$270M
Pre-tax income$1.3B$1.3B$1.4B$1.4B$1.4B$1.8B$2.0B$2.2B$2.2B$2.3B
Income tax$433M$306M$334M$339M$337M$432M$491M$528M$519M$551M
Net income$826M$994M$1.0B$1.1B$1.1B$1.4B$1.6B$1.7B$1.7B$1.8B
EPS (diluted)$2.28$2.75$2.86$3.04$3.03$3.84$4.30$4.67$4.58$4.89
Diluted shares363M362M362M361M362M363M362M362M362M360M
Gross margin—69.3%68.1%67.6%68.2%70.2%70.4%71.2%71.5%73.4%
Operating margin40.4%39.0%37.1%36.9%36.5%40.4%41.4%42.4%40.8%39.8%
Net margin26.6%30.0%28.0%27.8%27.5%30.6%31.7%32.9%30.6%27.9%

Balance sheet

Fiscal years, from Paychex's 10-K filings with the SEC.

Fiscal year2017201820192020202120222023202420252026
Cash and short-term investments$323M$424M$713M$932M$1.0B$1.2B$1.6B$1.5B$1.7B$1.1B
Total current assets$5.3B$5.9B$5.7B$5.5B$6.2B$6.6B$7.5B$7.3B$8.9B$8.6B
Property, plant and equipment$337M$394M$409M$407M$396M$401M$396M$412M$512M$589M
Goodwill$657M$814M$1.8B$1.8B$1.8B$1.8B$1.8B$1.9B$4.5B$4.5B
Total assets$6.8B$7.9B$8.7B$8.6B$9.2B$9.6B$10.5B$10.4B$16.6B$16.2B
Total current liabilities$4.7B$5.3B$4.8B$4.4B$4.9B$5.3B$5.8B$5.3B$7.0B$6.8B
Long-term debt——$796M$797M$797M$798M$798M$799M$4.5B$4.6B
Total liabilities$4.9B$5.6B$6.1B$5.8B$6.3B$6.5B$7.1B$6.6B$12.4B$12.4B
Shareholders' equity$2.2B$2.4B$2.6B$2.8B$2.9B$3.1B$3.5B$3.8B$4.1B$3.7B
Net debt-$185M-$358M$123M-$108M-$198M$428M-$424M-$670M$3.3B$3.5B

Cash flow

Fiscal years, from Paychex's 10-K filings with the SEC.

Fiscal year2017201820192020202120222023202420252026
Operating cash flow$960M$1.3B$1.3B$1.4B$1.3B$1.6B$1.7B$1.9B$1.9B$2.6B
Capital spending$94M$154M$124M$127M$118M$134M$143M$161M$192M$235M
Free cash flow$866M$1.1B$1.1B$1.3B$1.1B$1.5B$1.6B$1.7B$1.7B$2.3B
Stock-based compensation$35M$45M$46M$47M$52M$53M$63M$61M$112M$96M
Dividends paid$662M$740M$827M$889M$909M$1000M$1.2B$1.3B$1.4B$1.6B
Share buybacks (net)-$166M-$143M-$57M-$172M-$156M-$145M$0-$169M-$104M-$611M
Net borrowing——$796M————$0$0-$400M
Free cash flow margin27.9%33.9%31.1%33.2%28.6%32.0%31.9%33.8%31.6%36.8%
Dividends per share$1.83$2.05$2.29$2.46$2.51$2.75$3.24$3.63$4.00$4.42
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Questions

What was Paychex's revenue in 2026?

$6.3B in fiscal 2026, from its 10-K filing.

How much free cash flow does Paychex generate?

$2.3B in fiscal 2026 (operating cash flow minus capital spending).

From Paychex's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.