Annual Financials for Paychex, Inc. (PAYX)

20 Years of financial data for all companies
Including key metrics, annual/quarterly financials, and historic PE ratio.



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All numbers in thousands except per share items and ratios.
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Reported Currency: USD TTM 2023-12-31 2023-05-31 2022-05-31 2021-05-31 2020-05-31 2019-05-31 2018-05-31 2017-05-31 2016-05-31 2015-05-31 2014-05-31 2013-05-31 2012-05-31 2011-05-31 2010-05-31 2009-05-31 2008-05-31 2007-05-31 2006-05-31 2005-05-31
Revenue 5,278,300 5,278,300 5,007,100 4,611,700 4,056,800 4,040,500 3,772,500 3,380,900 3,151,300 2,951,900 2,739,600 2,518,900 2,326,200 2,229,800 2,084,300 2,000,820 2,082,759 2,066,323 1,886,964 1,674,596 1,445,143
Revenue Growth - 5.42% 8.57% 13.68% 0.40% 7.10% 11.58% 7.29% 6.75% 7.75% 8.76% 8.28% 4.32% 6.98% 4.17% -3.93% 0.80% 9.51% 12.68% 15.88%
Cost of Revenue 1,479,300 1,479,300 1,453,000 1,356,300 1,271,200 1,280,800 1,177,800 1,017,800 919,600 857,100 808,000 732,500 671,300 680,800 653,600 653,585 680,518 660,735 615,479 560,255 329,507
Gross Profit 3,799,000 3,799,000 3,554,100 3,255,400 2,785,600 2,759,700 2,594,700 2,363,100 2,231,700 2,094,800 1,931,600 1,786,400 1,654,900 1,549,000 1,430,700 1,347,235 1,402,241 1,405,588 1,271,485 1,114,341 1,115,636
Gross Profit Margin 71.92% 71.97% 70.98% 70.59% 68.66% 68.30% 68.78% 69.90% 70.82% 70.96% 70.51% 70.92% 71.14% 69.47% 68.64% 67.33% 67.33% 68.02% 67.38% 66.54% 77.20%
Research and Development 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
General and Administrative Expenses 1,624,900 1,624,900 1,521,000 1,415,400 1,324,900 1,299,200 1,223,400 1,075,600 992,100 948,200 878,000 803,700 750,100 695,100 644,300 622,440 597,041 577,321 569,937 464,770 581,861
Total Operating Expenses 1,625,000 1,624,900 1,521,000 1,415,400 1,324,900 1,299,200 1,223,400 1,075,600 992,100 948,200 878,000 803,700 750,100 695,100 644,300 622,440 597,041 577,321 569,937 464,590 581,861
Operating Income or Loss 2,174,100 2,174,100 2,033,100 1,840,000 1,460,700 1,460,500 1,371,300 1,287,500 1,239,600 1,146,600 1,053,600 982,700 904,800 853,900 786,400 724,795 805,200 828,267 701,548 649,751 533,775
Operating Margin 41.07% 41.19% 40.60% 39.90% 36.01% 36.15% 36.35% 38.08% 39.34% 38.84% 38.46% 39.01% 38.90% 38.29% 37.73% 36.22% 38.66% 40.08% 37.18% 38.80% 36.94%
Interest Expense 37,300 37,300 -15,100 36,600 35,800 38,800 17,600 3,900 2,500 1,100 700 1,100 0 0 0 0 0 0 0 0 0
EBITDA 2,350,600 2,350,600 2,209,700 2,031,800 1,652,700 1,670,200 1,552,800 1,416,900 1,361,300 1,257,200 1,153,800 1,082,300 996,400 945,300 869,300 806,727 907,053 901,366 756,813 718,970 613,239
Depreciation and Amortization 176,500 176,500 176,600 191,800 192,000 209,700 181,500 138,000 126,900 115,100 106,600 105,000 98,200 97,800 88,700 86,445 108,728 99,647 96,986 94,414 91,855
Income Before Tax 2,218,000 2,218,000 2,048,200 1,824,600 1,434,200 1,437,100 1,368,000 1,296,100 1,244,800 1,151,100 1,060,000 988,100 911,400 860,300 792,200 729,308 812,075 854,815 743,269 674,766 546,166
Income Tax Expense 527,600 527,600 490,900 431,800 336,700 339,000 333,600 362,400 427,500 394,300 385,100 360,600 342,400 312,300 276,900 252,309 278,530 278,670 227,822 209,852 177,317
Net Income 1,690,400 1,690,400 1,557,300 1,392,800 1,097,500 1,098,100 1,034,400 933,700 817,300 756,800 674,900 627,500 569,000 548,000 515,300 476,999 533,545 576,145 515,447 464,914 368,849
Net Income Margin 31.95% 32.03% 31.10% 30.20% 27.05% 27.18% 27.42% 27.62% 25.94% 25.64% 24.63% 24.91% 24.46% 24.58% 24.72% 23.84% 25.62% 27.88% 27.32% 27.76% 25.52%
EPS 4.70 4.69 4.32 3.86 3.05 3.06 2.88 2.60 2.27 2.10 1.86 1.72 1.56 1.51 1.42 1.32 1.48 1.56 1.35 1.23 0.97
EPS Diluted 4.67 4.67 4.30 3.84 3.03 3.04 2.86 2.58 2.25 2.09 1.85 1.71 1.56 1.51 1.42 1.32 1.48 1.56 1.35 1.22 0.97
Weighted Average Shares Out - 360,300 360,400 360,600 359,900 358,500 359,200 359,000 359,800 360,700 362,900 364,500 363,800 362,400 361,800 361,359 360,783 368,420 381,149 379,465 378,337
Weighted Average Shares Out Diluted - 362,100 362,300 363,100 362,100 361,000 361,800 361,500 362,600 362,500 364,600 366,100 364,700 363,000 362,400 361,728 360,985 369,528 382,802 381,351 379,763

Reported Currency: USD Q4 2024-05-31 2023-05-31 2022-05-31 2021-05-31 2020-05-31 2019-05-31 2018-05-31 2017-05-31 2016-05-31 2015-05-31 2014-05-31 2013-05-31 2012-05-31 2011-05-31 2010-05-31 2009-05-31 2008-05-31 2007-05-31 2006-05-31 2005-05-31
Current Assets
Cash and Cash Equivalents 1,468,900 1,468,900 1,222,000 370,000 995,200 905,200 692,200 358,200 184,600 131,500 170,000 152,500 107,300 108,800 119,000 284,316 472,769 164,237 79,353 137,423 280,944
Short Term Investments 33,900 33,900 373,400 853,900 36,700 27,200 30,900 66,000 138,800 220,600 366,600 398,700 398,200 207,500 345,000 82,496 19,710 228,727 511,772 440,007 426,666
Cash + Short Term Investments 1,502,800 1,502,800 1,595,400 1,223,900 1,031,900 932,400 723,100 424,200 323,400 352,100 536,600 551,200 505,500 316,300 464,000 366,812 492,479 392,964 591,125 577,430 707,610
Net Receivables 1,625,300 1,625,300 1,426,200 1,318,200 1,053,600 790,300 845,000 563,600 543,400 444,700 214,500 185,700 165,800 173,000 190,500 215,259 205,680 219,121 239,897 227,974 192,957
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 4,123,400 4,123,400 4,506,500 4,039,500 4,084,000 3,741,900 4,108,100 4,796,600 4,405,200 4,066,800 4,352,100 4,274,500 4,161,300 4,586,600 3,603,400 3,577,046 3,541,667 3,853,826 4,030,297 3,638,897 2,788,503
Total Current Assets 7,251,500 7,251,500 7,528,100 6,581,600 6,169,500 5,464,600 5,676,200 5,784,400 5,272,000 4,863,600 5,103,200 5,011,400 4,832,600 5,075,900 4,257,900 4,159,117 4,239,826 4,465,911 4,861,319 4,444,301 3,689,070
Non-Current Assets
Property, Plant and Equipment 458,600 458,600 457,800 480,000 498,800 522,200 408,700 393,500 337,200 353,000 353,900 342,200 346,000 324,300 308,700 267,583 274,530 275,297 256,087 234,664 205,319
Goodwill 1,882,700 1,882,700 1,834,000 1,831,500 1,820,700 1,791,100 1,782,600 814,000 657,100 657,100 561,500 540,300 533,900 517,400 513,700 421,559 433,316 433,316 407,712 405,842 0
Intangible Assets 194,500 194,500 187,400 224,600 275,800 330,600 399,100 141,400 57,600 69,500 32,400 40,600 45,200 55,800 77,200 63,262 76,641 74,500 67,213 60,704 477,450
Long Term Investments 3,700 3,700 3,800 5,000 7,100 10,200 18,300 295,500 454,000 441,100 399,800 385,600 369,100 473,700 207,300 290,106 82,234 0 0 0 0
Tax Assets 0 0 0 0 0 0 0 0 0 0 0 37,100 34,100 29,200 25,400 21,080 16,487 13,818 15,209 12,783 0
Other Non-Current Assets 592,100 592,100 535,300 512,500 455,300 432,000 397,600 34,900 55,800 56,500 31,700 12,900 2,800 3,300 3,600 3,592 4,381 46,949 638,979 391,008 7,277
Total Non-Current Assets 3,131,600 3,131,600 3,018,300 3,053,600 3,057,700 3,086,100 3,006,300 1,679,300 1,561,700 1,577,200 1,379,300 1,358,700 1,331,100 1,403,700 1,135,900 1,067,182 887,589 843,880 1,385,200 1,105,001 690,046
Other Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Assets 10,383,100 10,383,100 10,546,400 9,635,200 9,227,200 8,550,700 8,682,500 7,463,700 6,833,700 6,440,800 6,482,500 6,370,100 6,163,700 6,479,600 5,393,800 5,226,299 5,127,415 5,309,791 6,246,519 5,549,302 4,379,116
Current Liabilities
Accounts Payable 104,300 104,300 84,700 105,700 89,000 79,400 75,900 74,500 57,200 56,700 51,700 48,800 42,700 69,700 45,400 37,305 37,334 40,251 46,961 46,668 30,385
Short Term Debt 37,900 37,900 10,200 8,700 7,400 5,100 0 325,200 280,500 247,800 0 171,400 146,300 144,800 187,400 3,479,977 44,704 132,589 125,268 130,069 106,635
Tax Payables 47,500 47,500 48,100 34,000 33,500 50,500 22,600 17,000 45,000 10,500 12,900 17,200 49,900 5,600 1,400 6,653 2,198 11,236 8,845 7,574 5,781
Deferred Revenue 50,200 50,200 47,300 38,400 37,900 39,200 40,300 24,300 22,900 26,300 0 6,900 5,200 3,000 3,000 3,447 9,542 10,326 7,758 5,809 4,271
Other Current Liabilities 5,116,700 5,116,700 5,663,200 5,116,400 4,803,900 4,303,200 4,728,800 4,867,800 4,364,500 4,035,100 4,521,300 4,211,800 4,074,000 4,528,200 3,552,500 221,449 3,610,313 3,854,106 4,057,483 3,655,826 2,800,533
Total Current Liabilities 5,309,100 5,309,100 5,805,400 5,269,200 4,938,200 4,426,900 4,845,000 5,291,800 4,725,100 4,365,900 4,573,000 4,438,900 4,268,200 4,745,700 3,788,300 3,742,178 3,701,893 4,037,272 4,237,470 3,838,372 2,941,824
Non-Current Liabilities
Long Term Debt 798,600 798,600 855,500 872,500 889,700 893,700 796,400 0 0 0 0 0 0 0 0 0 45,541 0 0 0 0
Deferred Revenue 49,000 49,000 83,000 0 25,800 33,500 -909,900 0 0 0 0 0 0 0 0 0 -19,811 0 0 0 0
Deferred Tax 86,000 86,000 112,100 165,500 218,000 240,800 229,700 48,800 33,900 22,100 16,800 69,000 53,300 40,600 23,100 7,803 12,773 9,600 9,567 15,481 17,759
Other Non-Current Liabilities 339,400 339,400 197,200 242,800 207,500 174,400 1,101,800 98,600 119,400 141,100 107,200 85,200 68,500 88,800 86,200 74,339 45,541 66,277 47,234 40,606 33,858
Total Non-Current Liabilities 1,273,000 1,273,000 1,247,800 1,280,800 1,341,000 1,342,400 1,218,000 147,400 153,300 163,200 124,000 154,200 121,800 129,400 109,300 82,142 84,044 75,877 56,801 56,087 51,617
Total Liabilities 6,582,100 6,582,100 7,053,200 6,550,000 6,279,200 5,769,300 6,063,000 5,439,200 4,878,400 4,529,100 4,697,000 4,593,100 4,390,000 4,875,100 3,897,600 3,824,320 3,785,937 4,113,149 4,294,271 3,894,459 2,993,441
Common Stock 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,700 3,600 3,600 3,615 3,610 3,605 3,822 3,803 3,786
Retained Earnings 2,213,000 2,213,000 2,023,100 1,669,600 1,445,900 1,431,400 1,409,500 930,300 901,700 926,200 894,300 957,500 1,088,500 1,002,100 919,500 856,290 829,501 745,351 1,595,105 1,380,971 1,147,611
Accumulated Other Comprehensive Income/Loss -145,100 -145,100 -159,900 -133,900 51,800 56,500 100 -36,200 20,000 29,200 7,500 21,500 22,000 37,700 37,500 42,409 41,940 16,047 -9,661 -14,326 -6,422
Total Stockholders Equity 3,801,000 3,801,000 3,493,200 3,085,200 2,948,000 2,781,400 2,619,500 2,024,500 1,955,300 1,911,700 1,785,500 1,777,000 1,773,700 1,604,500 1,496,200 1,401,979 1,341,478 1,196,642 1,952,248 1,654,843 1,385,675
Total Investments 37,600 37,600 377,200 858,900 43,800 37,400 49,200 361,500 592,800 661,700 766,400 784,300 767,300 681,200 552,300 372,602 101,944 228,727 511,772 440,007 426,666
Total Debt 885,500 885,500 865,700 881,200 897,100 898,800 796,400 0 0 0 0 0 0 0 0 3,479,977 90,245 0 0 0 0
Net Debt -583,400 -583,400 -356,300 511,200 -98,100 -6,400 104,200 -358,200 -184,600 -131,500 -170,000 -152,500 -107,300 -108,800 -119,000 3,195,661 -382,524 -164,237 -79,353 -137,423 -280,944

Reported Currency: USD TTM 2023-12-31 2023-05-31 2022-05-31 2021-05-31 2020-05-31 2019-05-31 2018-05-31 2017-05-31 2016-05-31 2015-05-31 2014-05-31 2013-05-31 2012-05-31 2011-05-31 2010-05-31 2009-05-31 2008-05-31 2007-05-31 2006-05-31 2005-05-31
Cash Flows from Operating Activities
Net Income 1,690,400 1,690,400 1,557,300 1,392,800 1,097,500 1,098,100 1,034,400 933,700 817,300 756,800 674,900 627,500 569,000 548,000 515,300 476,999 533,545 576,145 515,447 464,914 368,849
Depreciation & Amortization 176,500 176,500 176,600 191,800 192,000 209,700 181,500 138,000 126,900 115,100 106,600 105,000 98,200 97,800 88,700 86,445 108,728 99,647 96,986 94,414 91,855
Deferred Income Tax -29,800 -29,800 -44,000 2,300 -21,000 -4,000 11,300 19,200 7,600 7,100 -4,100 -4,900 5,300 11,700 13,600 -3,856 -1,135 3,713 -16,388 -7,716 9,590
Stock Based Compensation 61,100 61,100 62,600 52,800 52,500 47,400 46,200 44,600 35,400 34,600 31,400 26,300 22,800 22,900 24,800 25,580 25,707 0 0 0 0
Change in Working Capital -280,400 -280,400 -317,900 -368,400 -294,700 -133,700 -216,400 72,000 -104,100 26,500 8,900 54,800 -77,000 -16,500 33,500 -27,392 20,882 23,136 -28,927 4,836 -8,909
Accounts Receivable 113,400 114,100 -123,600 -269,900 -272,900 55,100 -107,900 13,600 -103,700 -37,500 -28,200 -18,200 8,300 17,600 23,700 -10,190 3,818 0 0 0 0
Inventory 0 0 -19,900 0 -14,000 -400 0 21,400 -33,900 -3,200 -10,100 18,600 -47,400 -10,600 0 -3,520 15,069 0 0 0 0
Accounts Payable -127,000 -127,000 67,400 151,800 169,000 -4,900 86,900 47,200 48,900 63,300 51,100 45,100 -16,600 -26,900 0 -15,003 -10,049 0 0 0 0
Other Working Capital -221,200 -267,500 -241,800 -250,300 -176,800 -183,500 -195,400 -10,200 -15,400 3,900 -3,900 9,300 -21,300 3,400 9,800 1,321 12,044 23,136 -28,927 4,836 -8,909
Other Non-Cash Items 582,300 706,900 264,800 234,200 234,000 223,400 232,500 68,900 77,300 78,100 77,500 72,200 57,000 42,700 39,400 53,147 1,044 28,478 66,238 13,760 6,472
Net Cash Provided by Operating Activities 1,897,700 1,897,700 1,699,400 1,505,500 1,260,300 1,440,900 1,289,500 1,276,400 960,400 1,018,200 895,200 880,900 675,300 706,600 715,300 610,923 688,771 724,669 631,227 569,233 467,857
Cash Flows from Investing Activities
Investments in Property, Plant, and Equipment -171,000 -191,500 -143,000 -132,600 -114,600 -127,000 -123,800 -154,000 -94,300 -97,700 -102,800 -84,100 -98,700 -89,600 -103,300 -61,262 -64,709 -82,289 -79,020 -81,143 -70,686
Acquisitions Net 0 -208,300 -2,700 -24,900 -19,500 -6,100 -991,500 -180,400 0 -296,100 -27,100 -9,300 -21,300 -6,000 -126,400 13,050 -6,466 -32,940 -3,100 -726 -444
Purchases of Investments -6,868,500 -6,868,500 -14,585,300 -17,807,700 -6,089,700 -25,218,100 -35,145,800 -50,220,200 -50,462,300 -12,572,200 -34,020,400 -29,850,500 -28,332,800 -10,180,500 -6,229,100 -1,554,950 -17,467,092 -80,501,595 -109,642,485 -91,072,442 -3,230,532
Sales/Maturities of Investments 7,161,200 7,161,200 14,943,200 16,554,900 5,771,900 26,132,900 34,638,800 51,592,900 49,903,000 11,984,300 33,719,500 30,080,600 27,620,200 9,817,400 5,598,900 1,213,752 17,958,518 81,568,872 108,929,038 90,227,659 2,886,796
Other Investing Activities -174,300 -153,800 6,300 -10,600 -8,700 -9,800 -5,400 -1,717,300 229,000 918,600 145,800 -452,800 1,014,300 -785,600 450,400 -11,912 -15,789 -18,883 354,667 616,602 192,411
Net Cash Used for Investing Activities -260,900 -260,900 218,500 -1,420,900 -460,600 771,900 -1,627,700 -679,000 -424,600 -63,100 -285,000 -316,100 181,700 -1,244,300 -409,500 -401,322 404,462 933,165 -440,900 -310,050 -222,455
Cash Flows from Financing Activities
Debt Repayment -350,400 -9,000 -2,000 -1,300 -2,300 -5,100 -796,300 0 0 0 0 0 0 -980,500 -34,900 -42,298 -346,002 -198,649 0 0 0
Common Stock Issued 26,100 26,100 -10,400 22,600 85,700 21,300 -796,300 0 0 0 0 0 0 0 0 0 0 58,778 43,198 32,125 9,026
Common Stock Repurchased 0 -169,200 0 -145,200 -155,700 -171,900 -56,900 -143,100 -166,200 -107,900 -182,400 -249,700 0 0 0 0 0 -999,999 0 0 0
Dividends Paid -1,315,300 -1,315,300 -1,175,000 -999,600 -908,700 -889,400 -826,800 -739,700 -662,300 -606,500 -551,800 -510,600 -476,700 -460,500 -448,800 -448,558 -447,732 -442,146 -301,313 -231,554 -192,976
Other Financing Activities -243,700 -425,300 463,600 165,500 344,600 -426,900 1,458,400 459,000 345,800 -279,200 141,500 240,700 -381,800 1,968,500 12,600 92,802 9,033 9,066 9,718 0 0
Net Cash Used Provided by Financing Activities -1,874,700 -1,874,700 -711,400 -979,300 -636,400 -1,488,200 -1,017,900 -423,800 -482,700 -993,600 -592,700 -519,600 -858,500 527,500 -471,100 -398,054 -784,701 -1,572,950 -248,397 -199,429 -183,950
Effect of Forex Changes on Cash 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Change in Cash 1,532,600 244,900 1,206,500 -894,700 163,300 724,600 -1,356,100 173,600 53,100 -38,500 17,500 45,200 -1,500 -10,200 -165,300 -188,453 308,532 84,884 -58,070 59,754 61,452
Cash at End of Period 10,697,200 1,516,700 2,134,900 928,400 1,823,100 1,659,800 944,400 358,200 184,600 131,500 170,000 152,500 107,300 108,800 119,000 284,316 472,769 164,237 79,353 137,423 280,944
Cash at Start of Period 9,164,600 1,271,800 928,400 1,823,100 1,659,800 935,200 2,300,500 184,600 131,500 170,000 152,500 107,300 108,800 119,000 284,300 472,769 164,237 79,353 137,423 77,669 219,492
Free Cash Flow
Operating Cash Flow 1,897,700 1,897,700 1,699,400 1,505,500 1,260,300 1,440,900 1,289,500 1,276,400 960,400 1,018,200 895,200 880,900 675,300 706,600 715,300 610,923 688,771 724,669 631,227 569,233 467,857
Capital Expenditure -171,000 -191,500 -143,000 -132,600 -114,600 -127,000 -123,800 -154,000 -94,300 -97,700 -102,800 -84,100 -98,700 -89,600 -103,300 -61,262 -64,709 -82,289 -79,020 -81,143 -70,686
Free Cash Flow 1,726,700 1,706,200 1,556,400 1,372,900 1,145,700 1,313,900 1,165,700 1,122,400 866,100 920,500 792,400 796,800 576,600 617,000 612,000 549,661 624,062 642,380 552,207 488,090 397,171