Paychex Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.51B | $5.57B | $5.45B | $5.12B | $4.68B | $4.06B | $4.06B | $3.80B |
| Payroll Service | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Human Resource Services | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Management Solutions | — | — | $4.15B | $3.97B | $3.70B | $3.19B | $3.18B | $2.87B |
| PEO and Insurance Services | — | — | $1.15B | $1.06B | $909.1M | $813.9M | $811.8M | $841.0M |
| Interest on Funds Held for Clients | — | — | $148.1M | $94.6M | $69.0M | $51.8M | $72.3M | $90.1M |
| Cost of Revenue | $1.67B | $1.54B | $1.48B | $1.45B | $1.36B | $1.27B | $1.28B | $1.18B |
| Gross Profit | $4.84B | $4.03B | $3.97B | $3.67B | $3.32B | $2.79B | $2.78B | $2.62B |
| Gross Margin | 74.3% | 72.4% | 72.9% | 71.6% | 71.0% | 68.7% | 68.5% | 69.0% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $2.33B | $1.82B | $1.62B | $1.52B | $1.42B | $1.32B | $1.30B | $1.22B |
| Operating Income | $2.51B | $2.21B | $2.17B | $2.03B | $1.84B | $1.46B | $1.46B | $1.37B |
| Operating Margin | 38.6% | 39.6% | 39.9% | 39.7% | 39.3% | 36.0% | 36.0% | 36.1% |
| Interest Expense | — | — | $37.3M | $36.7M | $36.6M | $35.8M | $38.8M | $17.6M |
| Pretax Income | $2.31B | $2.18B | $2.22B | $2.05B | $1.82B | $1.43B | $1.44B | $1.37B |
| Income Tax Expense | $550.8M | $518.6M | $527.6M | $490.9M | $431.8M | $336.7M | $339.0M | $333.6M |
| Net Income | $1.76B | $1.66B | $1.69B | $1.56B | $1.39B | $1.10B | $1.10B | $1.03B |
| Net Margin | 27.0% | 29.7% | 31.0% | 30.4% | 29.8% | 27.1% | 27.0% | 27.2% |
| EPS (Basic) | $4.90 | $4.60 | $4.69 | $4.32 | $3.86 | $3.05 | $3.06 | $2.88 |
| EPS (Diluted) | $4.89 | $4.58 | $4.67 | $4.30 | $3.84 | $3.03 | $3.04 | $2.86 |
| Shares Outstanding (Basic) | 358.9M | 360.2M | 360.3M | 360.4M | 360.6M | 359.9M | 358.5M | 359.2M |
| Shares Outstanding (Diluted) | 360.0M | 362.0M | 362.1M | 362.3M | 363.1M | 362.1M | 361.0M | 361.8M |
| Dividends Per Share | $4.43 | $4.02 | $3.65 | $3.26 | $2.77 | $2.52 | $2.48 | $2.30 |