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Paychex (PAYX) | Financial Analysis & Statements

Paychex Inc. | Large-cap | Technology

$138.50

-1.64%

Paychex vs Salesforce Paychex vs Uber Technologies Paychex vs Intuit Paychex vs ServiceNow Paychex vs Adobe Paychex vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: May 2025

Income Metrics

Revenue 1.4B

Gross Profit 1.0B 72.40%

Operating Income 431.1M 30.20%

Net Income 297.2M 20.82%

Balance Sheet Metrics

Total Assets 16.6B

Total Liabilities 12.4B

Shareholders Equity 4.1B

Debt to Equity 3.01

Cash Flow Metrics

Operating Cash Flow 329.5M

Free Cash Flow 283.3M

Revenue & Profitability Trend

Interactive Financial Charts Not Available

This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Paychex Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue i	5.6B	5.3B	5.0B	4.6B	4.1B
Cost of Goods Sold i	1.5B	1.5B	1.5B	1.4B	1.3B
Gross Profit i	4.0B	3.8B	3.6B	3.3B	2.8B
Gross Margin % i	72.4%	72.0%	71.0%	70.6%	68.7%
Operating Expenses
Research & Development i	-	-	-	-	-
Selling, General & Administrative i	1.8B	1.6B	1.5B	1.4B	1.3B
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	1.8B	1.6B	1.5B	1.4B	1.3B
Operating Income i	2.2B	2.2B	2.0B	1.8B	1.5B
Operating Margin % i	39.6%	41.2%	40.6%	39.9%	36.0%
Non-Operating Items
Interest Income i	72.8M	82.7M	49.1M	2.9M	2.3M
Interest Expense i	105.4M	37.3M	36.7M	36.6M	35.8M
Other Non-Operating Income	800.0K	-1.5M	2.7M	18.3M	7.0M
Pre-tax Income i	2.2B	2.2B	2.0B	1.8B	1.4B
Income Tax i	518.6M	527.6M	490.9M	431.8M	336.7M
Effective Tax Rate % i	23.8%	23.8%	24.0%	23.7%	23.5%
Net Income i	1.7B	1.7B	1.6B	1.4B	1.1B
Net Margin % i	29.7%	32.0%	31.1%	30.2%	27.1%
Key Metrics
EBITDA i	2.5B	2.4B	2.3B	2.1B	1.7B
EPS (Basic) i	$4.60	$4.69	$4.32	$3.86	$3.05
EPS (Diluted) i	$4.58	$4.67	$4.30	$3.84	$3.03
Basic Shares Outstanding i	360200000	360300000	360400000	360600000	359900000
Diluted Shares Outstanding i	360200000	360300000	360400000	360600000	359900000

Income Statement Trend

Paychex Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets
Cash & Equivalents i	1.6B	1.5B	1.2B	370.0M	995.2M
Short-term Investments i	34.5M	33.9M	373.4M	853.9M	36.7M
Accounts Receivable i	1.3B	1.1B	873.3M	723.8M	578.3M
Inventory i	-	-	-	-	-
Other Current Assets	378.3M	321.9M	289.8M	272.3M	249.2M
Total Current Assets i	8.9B	7.3B	7.5B	6.6B	6.2B
Non-Current Assets
Property, Plant & Equipment i	306.6M	260.2M	276.0M	296.1M	314.4M
Goodwill i	11.0B	4.0B	3.9B	3.9B	3.9B
Intangible Assets i	1.9B	194.5M	187.4M	224.6M	275.8M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	610.9M	592.1M	535.3M	512.5M	455.3M
Total Non-Current Assets i	7.6B	3.1B	3.0B	3.1B	3.1B
Total Assets i	16.6B	10.4B	10.5B	9.6B	9.2B
Liabilities
Current Liabilities
Accounts Payable i	129.8M	104.3M	84.7M	105.7M	89.0M
Short-term Debt i	418.4M	18.7M	10.2M	8.7M	7.4M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	5.4B	4.3B	4.7B	4.2B	4.0B
Total Current Liabilities i	7.0B	5.3B	5.8B	5.3B	4.9B
Non-Current Liabilities
Long-term Debt i	4.6B	847.6M	855.5M	872.5M	889.7M
Deferred Tax Liabilities i	444.7M	86.0M	112.1M	165.5M	218.0M
Other Non-Current Liabilities	312.2M	236.8M	197.2M	184.7M	207.5M
Total Non-Current Liabilities i	5.5B	1.3B	1.2B	1.3B	1.3B
Total Liabilities i	12.4B	6.6B	7.1B	6.6B	6.3B
Equity
Common Stock i	3.6M	3.6M	3.6M	3.6M	3.6M
Retained Earnings i	2.3B	2.2B	2.0B	1.7B	1.4B
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	4.1B	3.8B	3.5B	3.1B	2.9B
Key Metrics
Total Debt i	5.0B	866.3M	865.7M	881.2M	897.1M
Working Capital i	2.0B	1.9B	1.7B	1.3B	1.2B

Balance Sheet Composition

Paychex Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income i	1.7B	1.7B	1.6B	1.4B	1.1B
Depreciation & Amortization i	209.5M	176.5M	176.6M	191.8M	192.0M
Stock-Based Compensation i	111.8M	61.1M	62.6M	52.8M	52.5M
Working Capital Changes i	-318.9M	-255.2M	-294.6M	-284.0M	-278.9M
Operating Cash Flow i	1.9B	1.9B	1.7B	1.6B	1.2B
Investing Activities
Capital Expenditures i	-191.8M	-161.4M	-126.3M	-132.6M	-114.6M
Acquisitions i	-3.0B	-208.3M	-2.7M	-24.9M	-19.5M
Investment Purchases i	-14.3B	-6.9B	-14.6B	-17.8B	-6.1B
Investment Sales i	14.3B	7.2B	14.9B	16.6B	5.8B
Investing Cash Flow i	-3.4B	-260.9M	211.7M	-1.5B	-460.6M
Financing Activities
Share Repurchases i	-104.5M	-169.2M	0	-145.2M	-155.7M
Dividends Paid i	-1.4B	-1.3B	-1.2B	-999.6M	-908.7M
Debt Issuance i	4.2B	-	-	-	0
Debt Repayment i	-	-	-	-	-
Financing Cash Flow i	2.3B	-1.9B	-701.0M	-1.0B	-722.1M
Free Cash Flow i	1.7B	1.7B	1.6B	1.5B	1.1B
Net Change in Cash i	793.8M	-287.0M	1.2B	-949.2M	50.8M

Cash Flow Trend

Paychex Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 30.24

Forward P/E 26.18

Price to Book 12.10

Price to Sales 8.95

PEG Ratio 26.18

Profitability Ratios

Profit Margin 29.75%

Operating Margin 38.72%

Return on Equity 41.80%

Return on Assets 10.81%

Financial Health

Current Ratio 1.28

Debt to Equity 122.21

Beta 0.91

Per Share Data

EPS (TTM) $4.58

Book Value per Share $11.45

Revenue per Share $15.47

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
payx	49.9B	30.24	12.10	41.80%	29.75%	122.21
Salesforce	237.4B	38.92	3.92	10.31%	16.08%	19.81
Uber Technologies	201.8B	16.49	8.94	67.49%	26.68%	52.23
Intuit	184.8B	54.05	9.38	20.29%	20.55%	0.35
ServiceNow	182.6B	110.27	16.70	16.95%	13.78%	22.04
Adobe	153.6B	23.20	13.51	52.25%	30.39%	57.49

Financial data is updated regularly. All figures are in the company's reporting currency.