PAYX financial statements

The full income statement, balance sheet, and cash-flow statement for Paychex Inc. (PAYX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2026	FY2025	FY2024	FY2023	FY2022
Income Statement	as ofMay 31 ’26	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22
Revenue	6.30B YoY+16.5%	5.41B YoY+5.4%	5.13B YoY+4.6%	4.91B YoY+7.8%	4.55B YoY+13.9%
Cost of revenue	1.67B YoY+8.7%	1.54B YoY+4.1%	1.48B YoY+1.8%	1.45B YoY+7.1%	1.36B YoY+6.7%
Selling, general & administrative	2.33B YoY+27.6%	1.82B YoY+12.2%	1.62B YoY+6.8%	1.52B YoY+7.5%	1.42B YoY+6.8%
Amortization of intangibles	300M YoY+230.2%	90.7M YoY+85.1%	49.0M YoY+1.7%	48.2M YoY-17.0%	58.1M YoY-15.3%
Provision for credit losses	38.1M YoY+57.4%	24.2M YoY+22.2%	19.8M YoY+11.9%	17.7M YoY+68.6%	10.5M YoY+31.3%
Operating income	2.51B YoY+13.7%	2.21B YoY+1.5%	2.17B YoY+6.9%	2.03B YoY+10.5%	1.84B YoY+26.0%
Interest expense	270M YoY+155.7%	105M YoY+182.6%	37.3M YoY+1.6%	36.7M YoY+0.3%	36.6M YoY+2.2%
Interest & investment income	211M YoY+30.4%	162M YoY+10.5%	146M YoY+46.6%	99.8M YoY+73.0%	57.7M YoY-2.7%
Other non-operating income	6.50M YoY+712.5%	800K YoY+153.3%	-1.50M YoY-155.6%	2.70M YoY-85.2%	18.3M YoY+161.4%
Pre-tax income	2.31B YoY+6.2%	2.18B YoY-1.9%	2.22B YoY+8.3%	2.05B YoY+12.3%	1.82B YoY+27.2%
Income tax	551M YoY+6.2%	519M YoY-1.7%	528M YoY+7.5%	491M YoY+13.7%	432M YoY+28.2%
	1.76B YoY+6.2%	1.66B YoY-2.0%	1.69B YoY+8.5%	1.56B YoY+11.8%	1.39B
Net income to common	1.76B YoY+6.2%	1.66B YoY-2.0%	1.69B YoY+8.5%	1.56B YoY+11.8%	1.39B YoY+26.9%
	$4.89 YoY+6.8%	$4.58 YoY-1.9%	$4.67 YoY+8.6%	$4.30 YoY+12.0%	$3.84 YoY+26.7%
EPS (basic)	$4.90 YoY+6.5%	$4.60 YoY-1.9%	$4.69 YoY+8.6%	$4.32 YoY+11.9%	$3.86 YoY+26.6%
	359M YoY-0.4%	360M YoY-0.0%	360M YoY-0.0%	360M YoY-0.1%	361M YoY+0.2%
	360M YoY-0.6%	362M YoY-0.0%	362M YoY-0.1%	362M YoY-0.2%	363M YoY+0.3%
Dividends per share	$4.43 YoY+10.2%	$4.02 YoY+10.1%	$3.65 YoY+12.0%	$3.26 YoY+17.7%	$2.77 YoY+9.9%
Balance Sheet	as ofMay 31 ’26	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22
	8.61B YoY-3.4%	8.92B YoY+23.0%	7.25B YoY-3.7%	7.53B YoY+14.4%	6.58B YoY+6.7%
Cash & equivalents	1.09B YoY-33.2%	1.63B YoY+10.9%	1.47B YoY+20.2%	1.22B YoY+230.3%	370M YoY-62.8%
Short-term investments	36.3M YoY+5.2%	34.5M YoY+1.8%	33.9M YoY-90.9%	373M YoY-56.3%	854M YoY+2226.7%
Prepaid expenses	385M YoY+1.7%	378M YoY+17.5%	322M YoY+11.1%	290M YoY+6.4%	272M YoY+9.3%
	16.2B YoY-2.4%	16.6B YoY+59.5%	10.4B YoY-1.5%	10.5B YoY+9.5%	9.64B YoY+4.4%
Property, plant & equipment	589M YoY+15.1%	512M YoY+24.2%	412M YoY+3.9%	396M YoY-1.2%	401M YoY+1.4%
Operating lease right-of-use	63.9M YoY+0.2%	63.8M YoY+36.0%	46.9M YoY-23.7%	61.5M YoY-21.9%	78.7M YoY-23.6%
Goodwill	4.53B YoY+0.3%	4.51B YoY+139.8%	1.88B YoY+2.7%	1.83B YoY+0.1%	1.83B YoY+0.6%
Intangible assets	1.68B YoY-13.5%	1.95B YoY+901.2%	195M YoY+3.8%	187M YoY-16.6%	225M YoY-18.6%
Other non-current assets	141M YoY+9.9%	129M YoY+11.7%	115M YoY+76.4%	65.2M YoY+21.4%	53.7M YoY+57.0%
	6.84B YoY-1.7%	6.96B YoY+31.0%	5.31B YoY-8.5%	5.81B YoY+10.2%	5.27B YoY+6.7%
Accounts payable	155M YoY+19.3%	130M YoY+24.4%	104M YoY+23.1%	84.7M YoY-19.9%	106M YoY+18.8%
Deferred revenue	69.4M YoY+0.0%	69.4M YoY+38.2%	50.2M YoY+6.1%	47.3M YoY+23.2%	38.4M YoY+1.3%
Short-term & current debt	0.00 YoY-100.0%	400M	0.00 YoY-100.0%	10.2M YoY+17.2%	8.70M YoY+17.6%
Current lease liability	22.0M YoY-2.2%	22.5M YoY+17.2%	19.2M YoY-5.4%	20.3M YoY-19.1%	25.1M YoY-13.1%
Other current liabilities	637M YoY+15.4%	552M YoY+17.5%	470M YoY+18.8%	395M YoY+1.8%	388M YoY+15.3%
	12.4B YoY+0.0%	12.4B YoY+88.9%	6.58B YoY-6.7%	7.05B YoY+7.7%	6.55B YoY+4.3%
Long-term debt	4.56B YoY+0.2%	4.55B YoY+469.5%	799M YoY+0.1%	798M YoY+0.1%	798M YoY+0.1%
Non-current lease liability	52.2M YoY-5.9%	55.5M YoY+13.3%	49.0M YoY-14.5%	57.3M YoY-23.4%	74.8M YoY-19.0%
Deferred tax liabilities	543M YoY+22.2%	445M YoY+417.1%	86.0M YoY-23.3%	112M YoY-32.3%	166M YoY-24.1%
Other non-current liabilities	307M YoY-1.8%	312M YoY+31.8%	237M YoY+20.1%	197M YoY+6.8%	185M YoY-11.0%
	3.74B YoY-9.5%	4.13B YoY+8.6%	3.80B YoY+8.8%	3.49B YoY+13.2%	3.09B YoY+4.7%
Common stock	3.60M YoY+0.0%	3.60M YoY+0.0%	3.60M YoY+0.0%	3.60M YoY+0.0%	3.60M YoY+0.0%
Additional paid-in capital	1.98B YoY+3.9%	1.90B YoY+9.9%	1.73B YoY+6.3%	1.63B YoY+5.2%	1.55B YoY+6.9%
Retained earnings	1.81B YoY-20.7%	2.28B YoY+2.9%	2.21B YoY+9.4%	2.02B YoY+21.2%	1.67B YoY+15.5%
Accumulated other comprehensive income	-49.9M YoY+7.1%	-53.7M YoY+63.0%	-145M YoY+9.3%	-160M YoY-19.4%	-134M YoY-358.5%
Total liabilities & equity	16.2B YoY-2.4%	16.6B YoY+59.5%	10.4B YoY-1.5%	10.5B YoY+9.5%	9.64B YoY+4.4%
	356M YoY-1.4%	361M YoY+0.1%	360M YoY-0.1%	361M YoY+0.2%	360M YoY+0.0%
	356M YoY-1.4%	361M YoY+0.1%	360M YoY-0.1%	361M YoY+0.2%	360M YoY+0.0%
	356M YoY-1.3%	360M YoY+0.0%	360M YoY-0.1%	361M YoY+0.2%	360M YoY+0.0%
Cash Flow	as ofMay 31 ’26	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22
	2.56B YoY+34.5%	1.90B YoY+0.2%	1.90B YoY+11.2%	1.71B YoY+7.3%	1.59B YoY+26.1%
Depreciation & amortization	443M YoY+111.3%	210M YoY+18.7%	177M YoY-0.1%	177M YoY-7.9%	192M YoY-0.1%
Share-based compensation	96.1M YoY-14.0%	112M YoY+83.0%	61.1M YoY-2.4%	62.6M YoY+18.6%	52.8M YoY+0.6%
Deferred income taxes	104M YoY+756.3%	-15.8M YoY+47.0%	-29.8M YoY+32.3%	-44.0M YoY-2013.0%	2.30M YoY+111.0%
Change in receivables	106M YoY-19.1%	131M YoY+215.7%	-113M YoY-183.3%	136M YoY-11.9%	154M YoY-43.5%
	-1.15B YoY+65.7%	-3.36B YoY-1186.6%	-261M YoY-223.2%	212M YoY+114.1%	-1.51B YoY-226.8%
Capital expenditure	235M YoY+22.5%	192M YoY+18.8%	161M YoY+12.9%	143M YoY+6.9%	134M YoY+13.0%
Free cash flow	2.32B YoY+35.8%	1.71B YoY-1.6%	1.74B YoY+11.1%	1.56B YoY+7.4%	1.46B YoY+27.5%
Acquisitions	400K YoY-100.0%	2.97B YoY+1324.6%	208M YoY+7614.8%	2.70M YoY-89.2%	24.9M YoY+27.7%
Proceeds from sale of PP&E	—	0.00	0.00 YoY-100.0%	16.7M YoY+1291.7%	1.20M YoY-68.4%
	-2.65B YoY-215.7%	2.29B YoY+222.3%	-1.87B YoY-163.5%	-711M YoY+27.4%	-979M YoY-53.9%
Long-term debt issued	0.00 YoY-100.0%	4.18B	0.00	0.00	0.00
Long-term debt repaid	400M	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	611M YoY+484.7%	105M YoY-38.2%	169M	0.00 YoY-100.0%	145M YoY-6.7%
Dividends paid	1.59B YoY+9.7%	1.45B YoY+10.1%	1.32B YoY+11.9%	1.18B YoY+17.5%	1000M YoY+10.0%
Net change in cash	-1.25B YoY-249.2%	837M YoY+452.0%	-238M YoY-119.7%	1.21B YoY+234.8%	-895M YoY-647.9%
Interest paid	268M YoY+613.6%	37.5M YoY+3.6%	36.2M YoY+1.4%	35.7M YoY+0.6%	35.5M YoY+1.7%
Income taxes paid	310M YoY-39.4%	512M YoY-5.0%	540M YoY+2.6%	526M YoY+32.2%	398M YoY-5.6%
Valuation Ratios	as ofMay 31 ’26	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22
Market cap	34.7B YoY-38.9%	56.9B YoY+31.4%	43.3B YoY+14.4%	37.8B YoY-15.1%	44.6B YoY+22.3%
P/E	21.2× YoY-35.1%	32.7× YoY+27.7%	25.6× YoY+5.4%	24.3× YoY-24.1%	32.0× YoY-35.0%
P/S	5.7× YoY-47.3%	10.8× YoY+27.6%	8.4× YoY+9.4%	7.7× YoY-21.2%	9.8× YoY+4.0%
P/B	8.7× YoY-37.3%	13.8× YoY+21.4%	11.4× YoY+5.1%	10.8× YoY-25.0%	14.4× YoY+18.0%
P/FCF	16.6× YoY-53.1%	35.4× YoY+42.1%	24.9× YoY+3.0%	24.2× YoY-20.9%	30.6× YoY-4.5%
	4.7% YoY+54.0%	3.1% YoY-21.7%	3.9% YoY-5.1%	4.1% YoY+31.7%	3.1% YoY+53.9%
	6.0% YoY+113.0%	2.8% YoY-29.6%	4.0% YoY-2.9%	4.1% YoY+26.5%	3.3% YoY+4.7%
	4.6% YoY+79.4%	2.5% YoY-16.2%	3.0% YoY-2.2%	3.1% YoY+38.9%	2.2% YoY-10.2%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: PAYX's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PAYX filings on SEC EDGAR → Not investment advice.