PAYCHEX INC
PAYX· Nasdaq· Services-Engineering, Accounting, Research, Management
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 36.8%
- ROIC, 5 yr avg
- 42.5%
- Revenue, 5 yr CAGR
- +9.5%
We record prices for the companies we cover; PAYX is not one of them yet.
Company statistics
Profile · FY2026
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 360.0M
- Revenue
- $6.3B
- Free cash flow
- $2.3B
- Owner earnings
- $2.2B
Valuation · FY2026
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2026
- Gross
- –
- Operating
- 39.8%
- Net
- 27.9%
- Free cash flow
- 36.8%
- Owner earnings
- 35.3%
- Stock pay
- 1.5%
Returns
- ROIC, FY2026
- 26.7%
- ROIC, 5 yr avg
- 42.5%
- ROE, FY2026
- 47.1%
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- 8.7%
- Revenue, 5 yr
- 9.5%
- Revenue, 9 yr
- 8.2%
- Diluted EPS, 3 yr
- 4.4%
- Diluted EPS, 5 yr
- 10.0%
- Diluted EPS, 9 yr
- 8.8%
- Free cash flow, 3 yr
- 14.1%
- Free cash flow, 5 yr
- 15.2%
- Free cash flow, 9 yr
- 11.6%
Financial health · FY2026
- Cash and investments
- $1.1B
- Total debt
- $4.6B
- Net debt
- $3.4B
- Debt/Equity
- 1.2x
- Debt/FCF
- 2.0x
Shareholder returns · FY2026
- Dividend yield
- –
- Payout ratio
- 90.3%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -0.1%
Financials: ten years from the 10-Ks
Revenue
$6.3B
+8.2% a year over 9 years
FY2017FY2026
Margins
Operating39.8%Net27.9%
FY2026
FY2017FY2026
Free cash flow and owner earnings
Free cash flow$2.3BOwner earnings$2.2B
Free cash flow +11.6% a year
FY2017FY2026
Diluted shares
360.0M
-0.7% over 9 years, net buybacks
FY2017FY2026
Return on invested capital
26.7%
FY2026
FY2017FY2026
Net debt (below zero)
-$3.4B
$3.4B more debt than cash
FY2017FY2026
Every figure, year by year
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $3.1B | $3.3B | $3.7B | $4.0B | $4.0B | $4.6B | $4.9B | $5.1B | $5.4B | $6.3B |
| Revenue growth | 5.1% | 6.8% | 11.4% | 7.1% | 1.1% | 13.9% | 7.8% | 4.6% | 5.4% | 16.5% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 40.4% | 39.0% | 37.1% | 36.9% | 36.5% | 40.4% | 41.4% | 42.4% | 40.8% | 39.8% |
| Net income | – | – | – | – | – | – | – | $1.7B | $1.7B | $1.8B |
| Net margin | – | – | – | – | – | – | – | 32.9% | 30.6% | 27.9% |
| Diluted EPS | $2.28 | $2.75 | $2.86 | $3.04 | $3.03 | $3.84 | $4.30 | $4.67 | $4.58 | $4.89 |
| Return on invested capital? | – | – | 38.4% | 42.1% | 41.1% | 52.7% | 57.1% | 53.2% | 22.6% | 26.7% |
| Cash | ||||||||||
| Operating cash flow | $960.4M | $1.3B | $1.3B | $1.4B | $1.3B | $1.6B | $1.7B | $1.9B | $1.9B | $2.6B |
| Capital expenditure | $94.3M | $154.0M | $123.8M | $127.0M | $118.4M | $133.8M | $143.0M | $161.4M | $191.8M | $234.9M |
| Free cash flow | $866.1M | $1.1B | $1.1B | $1.3B | $1.1B | $1.5B | $1.6B | $1.7B | $1.7B | $2.3B |
| Stock-based compensation | $35.4M | $44.6M | $46.2M | $47.4M | $52.5M | $52.8M | $62.6M | $61.1M | $111.8M | $96.1M |
| Owner earnings? | $830.7M | $1.1B | $1.1B | $1.3B | $1.1B | $1.4B | $1.5B | $1.7B | $1.6B | $2.2B |
| Free cash flow per share | $2.39 | $3.10 | $3.17 | $3.64 | $3.15 | $4.01 | $4.31 | $4.80 | $4.72 | $6.45 |
| Capital allocation | ||||||||||
| Dividends paid | $662.3M | $739.7M | $826.8M | $889.4M | $908.7M | $999.6M | $1.2B | $1.3B | $1.4B | $1.6B |
| Share repurchases | $166.2M | $143.1M | $56.9M | $171.9M | $155.7M | $145.2M | $0 | $169.2M | $104.5M | $611.0M |
| Diluted shares | 362.6M | 361.5M | 361.8M | 361.0M | 362.1M | 363.1M | 362.3M | 362.1M | 362.0M | 360.0M |
| Share count change? | 0.0% | -0.3% | 0.1% | -0.2% | 0.3% | 0.3% | -0.2% | -0.1% | 0.0% | -0.6% |
| Balance sheet | ||||||||||
| Cash and equivalents | $184.6M | $358.2M | $673.6M | $905.2M | $995.2M | $370.0M | $1.2B | $1.5B | $1.6B | $1.1B |
| Short-term investments | $138.8M | $66.0M | $39.0M | $27.2M | $36.7M | $853.9M | $373.4M | $33.9M | $34.5M | $36.3M |
| Total debt | – | – | $796.4M | $801.9M | $804.7M | $806.4M | $808.4M | $817.3M | $5.0B | $4.6B |
| Net debt | – | – | $83.8M | -$130.5M | -$227.2M | -$417.5M | -$787.0M | -$685.5M | $3.3B | $3.4B |
| Shareholders' equity | $2.2B | $2.4B | $2.6B | $2.8B | $2.9B | $3.1B | $3.5B | $3.8B | $4.1B | $3.7B |
Latest filings
| 2026-09-24 | 10-Q | Quarterly report |
| 2026-09-23 | 8-K | Earnings release |
| 2026-09-04 | DEF 14A | Proxy statement |
| 2026-07-17 | 10-K | Annual report |
| 2026-06-24 | 8-K | Earnings release |
| 2026-03-26 | 10-Q | Quarterly report |
| 2026-03-25 | 8-K | Earnings release |
| 2025-12-22 | 10-Q | Quarterly report |
| 2025-12-19 | 8-K | Earnings release |
| 2025-09-30 | 10-Q | Quarterly report |
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