Paychex Inc.
Income Statement
| Line Item | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.40B | $3.14B | $2.95B | $2.74B | $2.54B | $2.37B | $2.23B | $2.08B |
| Payroll Service | $0 | $0 | $1.73B | $1.68B | $1.62B | $1.56B | $1.51B | $1.47B |
| Human Resource Services | $0 | $0 | $1.16B | $1.01B | $879.8M | $768.4M | $666.9M | $566.2M |
| Management Solutions | $2.63B | $2.50B | $0 | $0 | $0 | $0 | $0 | $0 |
| PEO and Insurance Services | $692.1M | $577.6M | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest on Funds Held for Clients | $80.2M | $66.1M | $56.3M | $48.2M | $44.7M | $46.0M | $45.4M | $48.6M |
| Cost of Revenue | $1.02B | — | — | — | — | — | — | — |
| Gross Profit | $2.39B | — | — | — | — | — | — | — |
| Gross Margin | 70.1% | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $1.07B | $979.7M | $948.2M | $878.0M | $803.7M | $750.1M | $705.8M | $646.4M |
| Operating Income | $1.29B | $1.25B | $1.15B | $1.05B | $982.7M | $904.8M | $853.9M | $786.4M |
| Operating Margin | 37.9% | 39.9% | 38.9% | 38.5% | 38.7% | 38.1% | 38.3% | 37.8% |
| Interest Expense | $3.9M | $2.5M | $1.1M | $700.0K | $1.1M | — | — | — |
| Pretax Income | $1.30B | $1.26B | $1.15B | $1.06B | $988.1M | $911.4M | $860.3M | $792.2M |
| Income Tax Expense | $306.0M | $432.8M | $394.3M | $385.1M | $360.6M | $342.4M | $312.3M | $276.9M |
| Net Income | $994.1M | $826.3M | $756.8M | $674.9M | $627.5M | $569.0M | $548.0M | $515.3M |
| Net Margin | 29.2% | 26.3% | 25.6% | 24.6% | 24.7% | 24.0% | 24.6% | 24.8% |
| EPS (Basic) | $2.77 | $2.30 | $2.10 | $1.86 | $1.72 | $1.56 | $1.51 | $1.42 |
| EPS (Diluted) | $2.75 | $2.28 | $2.09 | $1.85 | $1.71 | $1.56 | $1.51 | $1.42 |
| Shares Outstanding (Basic) | 359.0M | 359.8M | 360.7M | 362.9M | 364.5M | 363.8M | 362.4M | 361.8M |
| Shares Outstanding (Diluted) | 361.5M | 362.6M | 362.5M | 364.6M | 366.1M | 364.7M | 363.0M | 362.4M |
| Dividends Per Share | $2.06 | $1.84 | $1.68 | $1.52 | $1.40 | $1.31 | $1.27 | $1.24 |