Paychex Inc (PAYX) stock
PAYXNasdaqServices-Engineering, Accounting, Research, ManagementFiscal year ends May 31
Financials through Q1 FY2027, quarter ended Aug 31, 2026Last filing: 10-Q on Sep 24, 2026Score 19/306% below fair value
$115.68+0.50 (+0.43%)
Close on Nov 13, 2026Market cap $41.18BP/E 23.0Yield 3.83%
Paychex operating margin
Operating margin is operating income as a percentage of revenue.
Paychex's operating margin for the twelve months ending Aug 31, 2026 was 39.2%. For fiscal 2026 it was 38.6%, against 39.6% the year before. The highest annual figure on record is 41.2% in fiscal 2024.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2026 | May 31, 2026 | 38.6% | −1.1 |
| FY2025 | May 31, 2025 | 39.6% | −1.6 |
| FY2024 | May 31, 2024 | 41.2% | +0.6 |
| FY2023 | May 31, 2023 | 40.6% | +0.7 |
| FY2022 | May 31, 2022 | 39.9% | +3.9 |
| FY2021 | May 31, 2021 | 36.0% | −0.1 |
| FY2020 | May 31, 2020 | 36.1% | −0.2 |
| FY2019 | May 31, 2019 | 36.3% | −1.9 |
| FY2018 | May 31, 2018 | 38.2% | −1.5 |
| FY2017 | May 31, 2017 | 39.8% | +0.9 |
| FY2016 | May 31, 2016 | 38.8% | +0.4 |
| FY2015 | May 31, 2015 | 38.5% | −0.6 |
| FY2014 | May 31, 2014 | 39.0% | +0.1 |
| FY2013 | May 31, 2013 | 38.9% | +0.6 |
| FY2012 | May 31, 2012 | 38.3% | +0.6 |
| FY2011 | May 31, 2011 | 37.7% | +1.5 |
| FY2010 | May 31, 2010 | 36.2% | −2.4 |
| FY2009 | May 31, 2009 | 38.7% | −1.4 |
| FY2008 | May 31, 2008 | 40.1% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
Periods
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q1 FY2027CQ3 2026 | Aug 31, 2026 | 38.0% | +2.8 |
| Q4 FY2026CQ2 2026 | May 31, 2026 | 37.7% | +7.5 |
| Q3 FY2026CQ1 2026 | Feb 28, 2026 | 43.8% | −2.1 |
| Q2 FY2026CQ4 2025 | Nov 30, 2025 | 36.7% | −4.1 |
| Q1 FY2026CQ3 2025 | Aug 31, 2025 | 35.2% | −6.3 |
| Q4 FY2025CQ2 2025 | May 31, 2025 | 30.2% | −7.0 |
| Q3 FY2025CQ1 2025 | Feb 28, 2025 | 45.8% | +0.7 |
| Q2 FY2025CQ4 2024 | Nov 30, 2024 | 40.9% | +0.6 |
| Q1 FY2025CQ3 2024 | Aug 31, 2024 | 41.5% | −0.2 |
| Q4 FY2024CQ2 2024 | May 31, 2024 | 37.2% | +0.3 |
| Q3 FY2024CQ1 2024 | Feb 29, 2024 | 45.1% | +0.8 |
| Q2 FY2024CQ4 2023 | Nov 30, 2023 | 40.2% | +0.6 |
| Q1 FY2024CQ3 2023 | Aug 31, 2023 | 41.7% | +0.6 |
| Q4 FY2023CQ2 2023 | May 31, 2023 | 36.9% | +2.4 |
| Q3 FY2023CQ1 2023 | Feb 28, 2023 | 44.3% | +0.2 |
| Q2 FY2023CQ4 2022 | Nov 30, 2022 | 39.7% | −0.0 |
| Q1 FY2023CQ3 2022 | Aug 31, 2022 | 41.1% | +0.2 |
| Q4 FY2022CQ2 2022 | May 31, 2022 | 34.4% | +0.1 |
| Q3 FY2022CQ1 2022 | Feb 28, 2022 | 44.1% | +2.0 |
| Q2 FY2022CQ4 2021 | Nov 30, 2021 | 39.7% | +3.7 |
| Q1 FY2022CQ3 2021 | Aug 31, 2021 | 40.9% | +10.4 |
| Q4 FY2021CQ2 2021 | May 31, 2021 | 34.4% | +1.6 |
| Q3 FY2021CQ1 2021 | Feb 28, 2021 | 42.2% | +1.0 |
| Q2 FY2021CQ4 2020 | Nov 30, 2020 | 36.0% | +1.5 |
| Q1 FY2021CQ3 2020 | Aug 31, 2020 | 30.5% | −4.7 |
| Q4 FY2020CQ2 2020 | May 31, 2020 | 32.7% | +0.7 |
| Q3 FY2020CQ1 2020 | Feb 29, 2020 | 41.1% | +1.0 |
| Q2 FY2020CQ4 2019 | Nov 30, 2019 | 34.5% | −1.3 |
| Q1 FY2020CQ3 2019 | Aug 31, 2019 | 35.2% | −1.9 |
| Q4 FY2019CQ2 2019 | May 31, 2019 | 32.1% | −3.6 |
| Q3 FY2019CQ1 2019 | Feb 28, 2019 | 40.1% | +0.7 |
| Q2 FY2019CQ4 2018 | Nov 30, 2018 | 35.8% | −2.0 |
| Q1 FY2019CQ3 2018 | Aug 31, 2018 | 37.1% | −2.9 |
| Q4 FY2018CQ2 2018 | May 31, 2018 | 35.7% | −1.7 |
| Q3 FY2018CQ1 2018 | Feb 28, 2018 | 39.4% | +0.9 |
| Q2 FY2018CQ4 2017 | Nov 30, 2017 | 37.7% | −2.6 |
| Q1 FY2018CQ3 2017 | Aug 31, 2017 | 40.0% | – |
| Q4 FY2017CQ2 2017 | May 31, 2017 | 37.4% | – |
| Q3 FY2017CQ1 2017 | Feb 28, 2017 | 38.5% | – |
| Q2 FY2017CQ4 2016 | Nov 30, 2016 | 40.3% | – |
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