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Screener / SEC EDGAR /CIK 0000723531 /10-K filed Jul 17, 2026, compared with Jul 11, 2025 /Numbers from the XBRL of the 10-Ks
Industrials peers:
DDEFXVLTOPAYXHUBBODFL
Nasdaq Industrials · Professional Services

Paychex PAYX

PAYX quote by TradingView

Unless we state otherwise or the context otherwise requires, the terms “Paychex,” the “Company,” “we,” “our,” and “us” refer to Paychex, Inc., a Delaware corporation, and its consolidated subsidiaries. 10-K, Item 1

Employees
17,600
Headquarters
Rochester, NY
CEO
John B. Gibson
Next results
around Dec 18, 2026
Compare with peers Embed

Where each dollar of revenue went, FY2026

Revenue of $6.5B through the costs to a net profit of $1.8B · income statement of the 10-K

39% operating margin
Revenue to Gross profit: $4.8BRevenue to Cost of revenue: $1.7BGross profit to Operating profit: $2.5BGross profit to Operating expenses: $2.3BOperating profit to Net profit: $1.8BOperating profit to Tax & other: $750.4M Revenue: $6.5B REVENUE $6.5B +17% Y/Y Gross profit: $4.8B · 74% margin GROSS PROFIT $4.8B 74% margin Cost of revenue: $1.7B · 26% of revenue COST OF REVENUE $1.7B 26% of revenue Operating profit: $2.5B · 39% margin OPERATING PROFIT $2.5B 39% margin · +14% Y/Y Operating expenses: $2.3B · 36% of revenue OPERATING EXPENSES $2.3B 36% of revenue Net profit: $1.8B · 27% margin NET PROFIT $1.8B 27% margin · +6% Y/Y Tax & other: $750.4M · 12% of revenue TAX & OTHER $750.4M 12% of revenue
Gross profit $4.8B 74% margin
Operating profit $2.5B 39% margin · +14% Y/Y
Net profit $1.8B 27% margin · +6% Y/Y
The full income statement, year by year

PAYX among Industrials peers

Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.

Compare
Revenue growth: 16.9%, above 89% of 81 peers (their median 4.6%) REVENUE GROWTH 16.9% · above 89% Gross margin: 71.2%, above 98% of 51 peers (their median 38.1%) GROSS MARGIN 71.2% · above 98% Operating margin: 39.2%, above 96% of 71 peers (their median 17.5%) OPERATING MARGIN 39.2% · above 96% Net margin: 27.4%, above 96% of 81 peers (their median 13.0%) NET MARGIN 27.4% · above 96% FCF margin: 30.5%, above 97% of 78 peers (their median 13.0%) FCF MARGIN 30.5% · above 97% Return on capital: 23.1%, above 85% of 65 peers (their median 13.8%) RETURN ON CAPITAL 23.1% · above 85%
PAYX Peer median Below the median

What changed

5 new risk paragraphs. 10-K filed Jul 17, 2026 against Jul 11, 2025.

Risk factors
5 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
10 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
1 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 10 checks found nothing to note

  • Receivables +13.3% vs revenue +16.9% (-3.6 pts)
  • Cash from operations $2.6B vs net income $1.8B (FY ending May 31, 2026)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
7 more checks with nothing to note
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No longer listed: Acquisition of Paycor HCM, Inc. - Valuation of Customer Relationships. Same as last year: Professional Employer Organization (PEO) Workers’ Compensation Insurance Reserves
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

5 paragraphs in Risk Factors that were not in the 10-K filed Jul 11, 2025. Quoted as filed.

All 5 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Jul 11, 2025 10-K, ITEM 1A
    Our use of AI technology and the incorporation of AI technology into our solutions carries risks and challenges that could adversely affect our business, financial condition, results of operations, and prospects. We have and are increasingly incorporating AI capabilities into many of our solutions, enabled by WISE, and internal…
  2. Item 1A · new paragraph · not in the 10-K filed Jul 11, 2025 10-K, ITEM 1A
    We and our customers are subject to the impacts related to inflationary pressure, economic instability, changes in interest rates, tariffs, potential instability of the banking environment, climate change-based obligations, and other macroeconomic and/or

New risk paragraphs, against peers

Latest 10-K of each, Industrials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2023FY2024FY2025FY2026
Revenue$5.0B$5.3B$5.6B$6.5B
Net income$1.6B$1.7B$1.7B$1.8B
Operating cash flow$1.7B$1.9B$1.9B$2.6B
Free cash flow$1.6B$1.7B$1.7B$2.3B

Revenue, FY2017 to FY2026

Ten fiscal years, each from its own 10-K · XBRL · USD

$6.5B ▲ 16.9% in FY2026

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Every number, year by year

Recent filings

1 filing in the last 30 days · SEC EDGAR

All filings

About the company

Paychex, Rochester, NY · from the 10-K filed Jul 17, 2026

Unless we state otherwise or the context otherwise requires, the terms “Paychex,” the “Company,” “we,” “our,” and “us” refer to Paychex, Inc., a Delaware corporation, and its consolidated subsidiaries. We are an industry-leading human capital management (“HCM”) company providing comprehensive technology and advisory solutions in human resources (“HR”), payroll processing, employee benefits, and insurance. As of May 31, 2026, we served approximately 840,000 total customers across the U.S. and parts of Europe, of which approximately 800,000 are payroll clients.

Headquarters
Rochester, NY
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
May 31
Last results
Sep 23, 2026
Incorporated in
DE

Employees, at the top of the page: "Our Employees: As of May 31, 2026, we employed approximately 17,600 people, primarily in the U" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Jul 17, 2026 (open at SEC), compared with the 10-K filed Jul 11, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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