Paychex, Inc. (PAYX) Financial Statements

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Paychex financial statements at a glance

Paychex reported revenue of $6.51 billion for fiscal year 2026 (ended May 31, 2026), up 16.9% from fiscal year 2025. Net income was $1.76 billion, a net margin of 27.0%, and diluted earnings per share were $4.89.

At the end of fiscal year 2026 it had total assets of $16.17 billion, total liabilities of $12.44 billion and shareholders' equity of $3.74 billion, with cash and short-term investments of $1.12 billion and total debt of $4.61 billion.

Its operations brought in $2.56 billion of cash; capital spending was $234.90 million, leaving free cash flow of $2.32 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended May 31, 2026.

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Paychex, Inc.

PAYXUnited States
Technology
USD (Local)

Income Statement

Annual • USD

Total Revenue
6.51B
Prev Year: 5.57B
YoY: +16.9%
Operating Revenue
6.30B
Prev Year: 5.41B
YoY: +16.5%
Weighted Average Shares (diluted)
360.00M
Prev Year: 362.00M
YoY: -0.6%
Weighted Average Shares (basic)
358.90M
Prev Year: 360.20M
YoY: -0.4%
Diluted EPS
4.89
Prev Year: 4.58
YoY: +6.8%
Basic EPS
4.9
Prev Year: 4.6
YoY: +6.5%
Cost of Revenue
1.67B
Prev Year: 1.54B
YoY: +8.7%
Gross Profit
4.84B
Prev Year: 4.03B
YoY: +20.0%
Operating Expense
2.33B
Prev Year: 1.82B
YoY: +27.6%
Selling General and Administrative
2.33B
Prev Year: 1.82B
YoY: +27.6%
Operating Income
2.51B
Prev Year: 2.21B
YoY: +13.7%
Net Non Operating Interest Income Expense
-206.10M
Prev Year: -32.60M
YoY: -532.2%
Non-operating Interest Income
63.40M
Prev Year: 72.80M
YoY: -12.9%
Non-operating Interest Expense
269.50M
Prev Year: 105.40M
YoY: +155.7%
Other Income Expense
6.50M
Prev Year: 800.0K
YoY: +712.5%
Other Non-operating Income (expense)
6.50M
Prev Year: 800.0K
YoY: +712.5%
Equity in Earnings of Affiliates
-
Pre-tax Income
2.31B
Prev Year: 2.18B
YoY: +6.2%
Provision for Income Taxes
550.80M
Prev Year: 518.60M
YoY: +6.2%
Net Income Common Stockholders
1.76B
Prev Year: 1.66B
YoY: +6.2%
Net Income
1.76B
Prev Year: 1.66B
YoY: +6.2%
Net Income Including Non-Controlling Interests
1.76B
Prev Year: 1.66B
YoY: +6.2%
Net Income from Continuing Operations
1.76B
Prev Year: 1.66B
YoY: +6.2%
Diluted NI Available to Com Stockholders
1.76B
Prev Year: 1.66B
YoY: +6.2%
Total Operating Income as Reported
2.51B
Prev Year: 2.21B
YoY: +13.7%
Total Expenses
4.00B
Prev Year: 3.36B
YoY: +19.0%
Net Income from Continuing and Discontinued Operation
1.76B
Prev Year: 1.66B
YoY: +6.2%
Normalized Income
1.76B
Prev Year: 1.66B
YoY: +6.2%
Interest Income
63.40M
Prev Year: 72.80M
YoY: -12.9%
Interest Expense
269.50M
Prev Year: 105.40M
YoY: +155.7%
Net Interest Income
-206.10M
Prev Year: -32.60M
YoY: -532.2%
EBIT
2.58B
Prev Year: 2.28B
YoY: +13.1%
EBITDA
3.02B
Prev Year: 2.49B
YoY: +21.4%
Reconciled Cost of Revenue
1.67B
Prev Year: 1.54B
YoY: +8.7%
Reconciled Depreciation
442.60M
Prev Year: 209.50M
YoY: +111.3%
Net Income from Continuing Operation Net Minority Interest
1.76B
Prev Year: 1.66B
YoY: +6.2%
Normalized EBITDA
3.02B
Prev Year: 2.49B
YoY: +21.4%
Tax Rate for Calcs
0.238
Prev Year: 0.238
YoY: 0.0%
Values in USD

Paychex key figures by fiscal year

FY2026FY2025FY2024FY2023FY2022
Revenue$6.5B$5.6B$5.3B$5.0B$4.6B
Gross profit$4.8B$4.0B$3.8B$3.6B$3.3B
Operating income$2.5B$2.2B$2.2B$2.0B$1.8B
Net income$1.8B$1.7B$1.7B$1.6B$1.4B
Diluted EPS$4.89$4.58$4.67$4.30$3.84
Total assets$16.2B$16.6B$10.4B$10.5B$9.6B
Total liabilities$12.4B$12.4B$6.6B$7.1B$6.6B
Shareholders' equity$3.7B$4.1B$3.8B$3.5B$3.1B
Cash and short-term investments$1.1B$1.7B$1.5B$1.6B$1.2B
Total debt$4.6B$5.0B$866.3M$865.7M$881.2M
Operating cash flow$2.6B$1.9B$1.9B$1.7B$1.6B
Capital spending$234.9M$191.8M$161.4M$143.0M$133.8M
Free cash flow$2.3B$1.7B$1.7B$1.6B$1.5B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2015.

Questions and answers

What was Paychex's revenue in fiscal year 2026?

$6.51 billion, up 16.9% from $5.57 billion in fiscal year 2025.

How much profit does Paychex make?

Paychex reported net income of $1.76 billion for fiscal year 2026 (27.0% of revenue); operating income was $2.51 billion.

How much cash and debt does Paychex have?

At the end of fiscal year 2026: cash and short-term investments of $1.12 billion and total debt of $4.61 billion.

What is Paychex's free cash flow?

$2.32 billion in fiscal year 2026 (operating cash flow of $2.56 billion minus capital spending of $234.90 million).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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