Paychex, Inc. (PAYX) Income Statement

NASDAQ: PAYXRevenue, profits, margins and EPS over 10 years.

PAYX FY2026 at a glance

Fiscal year ended May 31, 2026 · U.S. dollars
Revenue+16.9%
$6.51B
FY2026 · hover or tap a bar for each year
FY2017: $3.15B (+6.8%)FY2018: $3.38B (+7.3%)FY2019: $3.77B (+11.6%)FY2020: $4.04B (+7.1%)FY2021: $4.06B (+0.4%)FY2022: $4.61B (+13.7%)FY2023: $5.01B (+8.6%)FY2024: $5.28B (+5.4%)FY2025: $5.57B (+5.6%)FY2026: $6.51B (+16.9%)
FY2017FY2026
Gross profit+20.0%
$4.84B
FY2026 · hover or tap a bar for each year
FY2017: $2.23B (+6.5%)FY2018: $2.36B (+5.9%)FY2019: $2.59B (+9.8%)FY2020: $2.76B (+6.4%)FY2021: $2.79B (+0.9%)FY2022: $3.26B (+16.9%)FY2023: $3.55B (+9.2%)FY2024: $3.80B (+6.9%)FY2025: $4.03B (+6.1%)FY2026: $4.84B (+20.0%)
FY2017FY2026
Operating income+13.7%
$2.51B
FY2026 · hover or tap a bar for each year
FY2017: $1.24B (+8.1%)FY2018: $1.29B (+3.9%)FY2019: $1.37B (+6.5%)FY2020: $1.46B (+6.5%)FY2021: $1.46B (+0.0%)FY2022: $1.84B (+26.0%)FY2023: $2.03B (+10.5%)FY2024: $2.17B (+6.9%)FY2025: $2.21B (+1.5%)FY2026: $2.51B (+13.7%)
FY2017FY2026
Net income+6.2%
$1.76B
FY2026 · hover or tap a bar for each year
FY2017: $817.3M (+8.0%)FY2018: $933.7M (+14.2%)FY2019: $1.03B (+10.8%)FY2020: $1.10B (+6.2%)FY2021: $1.10B (−0.1%)FY2022: $1.39B (+26.9%)FY2023: $1.56B (+11.8%)FY2024: $1.69B (+8.5%)FY2025: $1.66B (−2.0%)FY2026: $1.76B (+6.2%)
FY2017FY2026
EPS (diluted)+10.6%
$5.51
FY2026 · hover or tap a bar for each year
FY2017: $2.22 (+9.4%)FY2018: $2.45 (+10.4%)FY2019: $2.84 (+15.9%)FY2020: $2.99 (+5.3%)FY2021: $3.04 (+1.7%)FY2022: $3.76 (+23.7%)FY2023: $4.28 (+13.8%)FY2024: $4.72 (+10.3%)FY2025: $4.98 (+5.5%)FY2026: $5.51 (+10.6%)
FY2017FY2026
Net profit margin−2.7 pts
27.0%
FY2026 · hover or tap a point for each year
FY2017: 25.9% (+0.3 pts)FY2018: 27.6% (+1.7 pts)FY2019: 27.4% (−0.2 pts)FY2020: 27.2% (−0.2 pts)FY2021: 27.1% (−0.1 pts)FY2022: 30.2% (+3.1 pts)FY2023: 31.1% (+0.9 pts)FY2024: 32.0% (+0.9 pts)FY2025: 29.7% (−2.3 pts)FY2026: 27.0% (−2.7 pts)
FY2017FY2026

PAYX revenue and net income

RevenueNet incomeNet margin (right axis)

Where PAYX's revenue goes

FY2026
Revenue
$6.51B100.0%
Cost of revenue
−$1.67B−25.7%
Gross profit
$4.84B74.3%
Sales, general & admin
−$2.33B−35.7%
Operating income
$2.51B38.6%
Interest & other expense
−$199.6M−3.1%
Income taxes
−$550.8M−8.5%
Net income
$1.76B27.0%

Each bar shows an amount and its share of revenue. PAYX kept 27.0% of revenue as net income.

PAYX profit margins

GrossOperatingNet

PAYX growth rates

to FY2026
1 year3 years5 years10 years
Revenue+16.9%+9.2%+9.9%+8.2%
Gross profit+20.0%+10.8%+11.7%+8.7%
Operating income+13.7%+7.3%+11.4%+8.2%
Net income+6.2%+4.2%+9.9%+8.8%
EPS (diluted)+10.6%+8.8%+12.6%+10.5%

1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.

PAYX quarterly EPS vs estimates

Reported EPSAnalyst estimate

Paychex beat the analyst EPS estimate in 7 of the last 8 quarters.

PAYX income statement

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue$6.51B$5.57B$5.28B$5.01B$4.61B$4.06B$4.04B$3.77B$3.38B$3.15B
Cost of revenue$1.67B$1.54B$1.48B$1.45B$1.36B$1.27B$1.28B$1.18B$1.02B$919.6M
Gross profit$4.84B$4.03B$3.80B$3.55B$3.26B$2.79B$2.76B$2.59B$2.36B$2.23B
Research & development————————$0$0
Sales, general & admin$2.33B$1.82B$1.62B$1.52B$1.42B$1.32B$1.30B$1.22B$1.08B$992.1M
Total operating expenses$2.33B$1.82B$1.62B$1.52B$1.42B$1.32B$1.30B$1.22B$1.08B$992.1M
Operating income$2.51B$2.21B$2.17B$2.03B$1.84B$1.46B$1.46B$1.37B$1.29B$1.24B
Interest income$63.4M$72.8M$82.7M$49.1M$2.9M$2.3M$12.3M$13.3M$11.9M$9.9M
Interest expense$269.5M$105.4M$37.3M$36.7M$36.6M$35.8M$38.8M$17.6M$3.9M$2.5M
Income before taxes$2.31B$2.18B$2.22B$2.05B$1.82B$1.43B$1.44B$1.37B$1.30B$1.24B
Income taxes$550.8M$518.6M$527.6M$490.9M$431.8M$336.7M$339.0M$333.6M$362.4M$427.5M
Net income$1.76B$1.66B$1.69B$1.56B$1.39B$1.10B$1.10B$1.03B$933.7M$817.3M
EBITDA$3.02B$2.49B$2.43B$2.26B$2.05B$1.66B$1.67B$1.56B$1.43B$1.38B
EPS (diluted)$5.51$4.98$4.72$4.28$3.76$3.04$2.99$2.84$2.45$2.22
Gross margin74.3%72.4%72.0%71.0%70.6%68.7%68.3%68.8%69.9%70.8%
Operating margin38.6%39.6%41.2%40.6%39.9%36.0%36.1%36.3%38.1%39.3%
Net margin27.0%29.7%32.0%31.1%30.2%27.1%27.2%27.4%27.6%25.9%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PAYX's financial statements (latest annual report filed July 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.

PAYX financial results

In fiscal year 2026 (ended May 31, 2026), Paychex reported revenue of $6.5 billion, up 16.9% from the year before. It had net income of $1.8 billion (up 6.2%), a net profit margin of 27.0%. Diluted earnings per share came to $5.51. Over five years revenue grew at an average rate of 9.9% a year.

See the PAYX stock overview for the latest quote and news, or the PAYX chart for price history and technical indicators.

PAYX income statement FAQ

What is Paychex's annual revenue?

Paychex reported total revenue of $6.5 billion for fiscal year 2026, which ended on May 31, 2026. That was up 16.9% from $5.6 billion the previous year.

Is Paychex profitable?

Yes. Paychex reported net income of $1.8 billion in fiscal 2026, a net profit margin of 27.0%; its operating margin was 38.6%.

What is Paychex's gross margin?

Paychex's gross margin was 74.3% in fiscal 2026: for every $100 of revenue, Paychex kept $74 after the direct cost of its products and services.

How fast is Paychex growing?

Revenue grew 9.9% a year on average over the last five fiscal years, from $4.1 billion to $6.5 billion.

What are Paychex's earnings per share?

Paychex earned $5.51 per diluted share in fiscal 2026, compared with $4.98 a year earlier.

When does Paychex's fiscal year end?

Paychex's fiscal year ends in May. The latest annual report covers the year ended May 31, 2026 and was filed on July 17, 2026.

Software - Application income statements