# Paychex Inc: overview

PAYX · Nasdaq · CIK 723531 · [Industrials](/sectors/industrials.md) · fiscal year ends May 31

Pages: [Overview](/companies/payx.md) · [Financials](/companies/payx/financials.md) · [Filings](/companies/payx/filings.md) · [Insiders](/companies/payx/insiders.md)

Latest reported revenue: [$1.58bn](/filings/0000723531-26-000006.md) for Q1 FY2027, three months to 2026-08-31, from the 10-Q filed Sep 24, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000723531-26-000006).

## Last eight quarters

| Line item | Unit | Q2 FY2025 (2024-11-30) | Q3 FY2025 (2025-02-28) | Q4 FY2025 (2025-05-31) | Q1 FY2026 (2025-08-31) | Q2 FY2026 (2025-11-30) | Q3 FY2026 (2026-02-28) | Q4 FY2026 (2026-05-31) | Q1 FY2027 (2026-08-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,281](/filings/0001193125-25-328698.md) | [1,466](/filings/0001193125-26-126204.md) | [1,382 d](/filings/0001193125-26-307785.md) | [1,492](/filings/0000723531-26-000006.md) | [1,503](/filings/0001193125-25-328698.md) | [1,752](/filings/0001193125-26-126204.md) | [1,553 d](/filings/0001193125-26-307785.md) | [1,581](/filings/0000723531-26-000006.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [42.0%](/filings/0001193125-25-328698.md) | [47.2%](/filings/0001193125-26-126204.md) | [31.2% d](/filings/0001193125-26-307785.md) | [36.3%](/filings/0000723531-26-000006.md) | [38.0%](/filings/0001193125-25-328698.md) | [45.2%](/filings/0001193125-26-126204.md) | [38.9% d](/filings/0001193125-26-307785.md) | [39.2%](/filings/0000723531-26-000006.md) |
| Net margin | % | [32.3%](/filings/0001193125-25-328698.md) | [35.4%](/filings/0001193125-26-126204.md) | [21.5% d](/filings/0001193125-26-307785.md) | [25.7%](/filings/0000723531-26-000006.md) | [26.3%](/filings/0001193125-25-328698.md) | [32.0%](/filings/0001193125-26-126204.md) | [27.1% d](/filings/0001193125-26-307785.md) | [27.2%](/filings/0000723531-26-000006.md) |
| Diluted EPS | $ per share | [1.14](/filings/0001193125-25-328698.md) | [1.43](/filings/0001193125-26-126204.md) | not reported | [1.06](/filings/0000723531-26-000006.md) | [1.10](/filings/0001193125-25-328698.md) | [1.56](/filings/0001193125-26-126204.md) | not reported | [1.21](/filings/0000723531-26-000006.md) |
| Free cash flow | $m | [248 d](/filings/0001193125-25-328698.md) | [667 d](/filings/0001193125-26-126204.md) | [283 d](/filings/0001193125-26-307785.md) | [663](/filings/0000723531-26-000006.md) | [383 d](/filings/0001193125-25-328698.md) | [762 d](/filings/0001193125-26-126204.md) | [515 d](/filings/0001193125-26-307785.md) | [357](/filings/0000723531-26-000006.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2022 (2022-05-31) | FY2023 (2023-05-31) | FY2024 (2024-05-31) | FY2025 (2025-05-31) | FY2026 (2026-05-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [4,554](/filings/0000950170-24-082958.md) | [4,907](/filings/0000950170-25-095300.md) | [5,132](/filings/0001193125-26-307785.md) | [5,410](/filings/0001193125-26-307785.md) | [6,301](/filings/0001193125-26-307785.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [40.4%](/filings/0000950170-24-082958.md) | [41.4%](/filings/0000950170-25-095300.md) | [42.4%](/filings/0001193125-26-307785.md) | [40.8%](/filings/0001193125-26-307785.md) | [39.8%](/filings/0001193125-26-307785.md) |
| Net margin | % | [30.6%](/filings/0000950170-24-082958.md) | [31.7%](/filings/0000950170-25-095300.md) | [32.9%](/filings/0001193125-26-307785.md) | [30.6%](/filings/0001193125-26-307785.md) | [27.9%](/filings/0001193125-26-307785.md) |
| Diluted EPS | $ per share | [3.84](/filings/0000950170-24-082958.md) | [4.30](/filings/0000950170-25-095300.md) | [4.67](/filings/0001193125-26-307785.md) | [4.58](/filings/0001193125-26-307785.md) | [4.89](/filings/0001193125-26-307785.md) |
| Free cash flow | $m | [1,456](/filings/0000950170-24-082958.md) | [1,563](/filings/0000950170-25-095300.md) | [1,736](/filings/0001193125-26-307785.md) | [1,709](/filings/0001193125-26-307785.md) | [2,322](/filings/0001193125-26-307785.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:ProfitLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Net income: us-gaap:NetIncomeLoss.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/payx/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $2.84bn | 28,840,445 |  | Reduced −1,108,241 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $2.73bn | 27,753,178 |  | Reduced −661,274 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $2.07bn | 21,040,690 |  | Added +75,420 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $1.50bn | 15,277,715 |  | Added +28,155 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $1.42bn | 14,411,341 |  | Added +361,713 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $1.28bn | 13,040,655 |  | Added +7,789,747 |
| [CHARLES SCHWAB INVESTMENT MANAGEMENT INC](/funds/884546.md) | 2026-06-30 | $1.02bn | 10,402,177 |  | Added +1,026,924 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $1.01bn | 10,250,030 |  | Reduced −20,498 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $643.2m | 6,540,823 |  | Added +1,242,795 |
| [FEDERATED HERMES, INC.](/funds/1056288.md) | 2026-06-30 | $578.4m | 5,881,768 |  | Reduced −3,808 |

## Recent filings

[All 1,219 filings](/companies/payx/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-16 | 16:01 ET | [8-K](/filings/0000723531-26-000008.md) | 5.07 Shareholder vote results | 0000723531-26-000008 |
| 2026-09-24 | 16:06 ET | [10-Q](/filings/0000723531-26-000006.md) | Quarterly report, period 2026-08-31 | 0000723531-26-000006 |
| 2026-09-23 | 08:41 ET | [8-K](/filings/0000723531-26-000004.md) | 2.02 Results of operations | 0000723531-26-000004 |
| 2026-09-04 | 08:03 ET | [DEF 14A](/filings/0001193125-26-382805.md) | Proxy statement, period 2026-10-15 | 0001193125-26-382805 |
| 2026-07-21 | 16:03 ET | [8-K](/filings/0001193125-26-310277.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001193125-26-310277 |
| 2026-07-17 | 16:05 ET | [10-K](/filings/0001193125-26-307785.md) | Annual report, period 2026-05-31 | 0001193125-26-307785 |
| 2026-06-24 | 08:38 ET | [8-K](/filings/0001193125-26-280314.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-280314 |
| 2026-03-26 | 16:05 ET | [10-Q](/filings/0001193125-26-126204.md) | Quarterly report, period 2026-02-28 | 0001193125-26-126204 |
| 2026-03-25 | 08:34 ET | [8-K](/filings/0001193125-26-122887.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-122887 |
| 2026-01-26 | 09:24 ET | [8-K](/filings/0001193125-26-021794.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 2.03 New direct financial obligation | 0001193125-26-021794 |

## Latest annual report

[Form 10-K for the fiscal year ended May 31, 2026](/filings/0001193125-26-307785.md), filed Jul 17, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 723531
- Tickers: PAYX
- Exchange: Nasdaq
- SIC code: 8700 Services-Engineering, Accounting, Research, Management
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 16:32 ET. No prices; not investment advice.