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.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
Revenue	5.41B YoY+5.4%	5.13B YoY+4.6%	4.91B YoY+7.8%	4.55B YoY+13.9%	4.00B YoY+1.1%
Cost of revenue	1.54B YoY+4.1%	1.48B YoY+1.8%	1.45B YoY+7.1%	1.36B YoY+6.7%	1.27B YoY-0.7%
Selling, general & administrative	1.82B YoY+12.2%	1.62B YoY+6.8%	1.52B YoY+7.5%	1.42B YoY+6.8%	1.32B YoY+2.0%
Amortization of intangibles	90.7M YoY+85.1%	49.0M YoY+1.7%	48.2M YoY-17.0%	58.1M YoY-15.3%	68.6M YoY-16.2%
Provision for credit losses	24.2M YoY+22.2%	19.8M YoY+11.9%	17.7M YoY+68.6%	10.5M YoY+31.3%	8.00M YoY+2.6%
Operating income	2.21B YoY+1.5%	2.17B YoY+6.9%	2.03B YoY+10.5%	1.84B YoY+26.0%	1.46B YoY+0.0%
Interest expense	105M YoY+182.6%	37.3M YoY+1.6%	36.7M YoY+0.3%	36.6M YoY+2.2%	35.8M YoY-7.7%
Interest & investment income	162M YoY+10.5%	146M YoY+46.6%	99.8M YoY+73.0%	57.7M YoY-2.7%	59.3M YoY-31.8%
Other non-operating income	800K YoY+153.3%	-1.50M YoY-155.6%	2.70M YoY-85.2%	18.3M YoY+161.4%	7.00M YoY+125.8%
Pre-tax income	2.18B YoY-1.9%	2.22B YoY+8.3%	2.05B YoY+12.3%	1.82B YoY+27.2%	1.43B YoY-0.2%
Income tax	519M YoY-1.7%	528M YoY+7.5%	491M YoY+13.7%	432M YoY+28.2%	337M YoY-0.7%
	1.66B YoY-2.0%	1.69B YoY+8.5%	1.56B YoY+11.8%	1.39B	—
Net income to common	1.66B YoY-2.0%	1.69B YoY+8.5%	1.56B YoY+11.8%	1.39B YoY+26.9%	1.10B YoY-0.1%
	$4.58 YoY-1.9%	$4.67 YoY+8.6%	$4.30 YoY+12.0%	$3.84 YoY+26.7%	$3.03 YoY-0.3%
EPS (basic)	$4.60 YoY-1.9%	$4.69 YoY+8.6%	$4.32 YoY+11.9%	$3.86 YoY+26.6%	$3.05 YoY-0.3%
Weighted-avg shares (basic)	360M YoY-0.0%	360M YoY-0.0%	360M YoY-0.1%	361M YoY+0.2%	360M YoY+0.4%
Weighted-avg shares (diluted)	362M YoY-0.0%	362M YoY-0.1%	362M YoY-0.2%	363M YoY+0.3%	362M YoY+0.3%
Dividends per share	$4.02 YoY+10.1%	$3.65 YoY+12.0%	$3.26 YoY+17.7%	$2.77 YoY+9.9%	$2.52 YoY+1.6%
Balance Sheet	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
	8.92B YoY+23.0%	7.25B YoY-3.7%	7.53B YoY+14.4%	6.58B YoY+6.7%	6.17B YoY+12.9%
Cash & equivalents	1.63B YoY+10.9%	1.47B YoY+20.2%	1.22B YoY+230.3%	370M YoY-62.8%	995M YoY+9.9%
Short-term investments	34.5M YoY+1.8%	33.9M YoY-90.9%	373M YoY-56.3%	854M YoY+2226.7%	36.7M YoY+34.9%
Accounts receivable	175M YoY+0.0%	175M YoY+0.0%	175M YoY+0.0%	175M YoY+0.0%	175M YoY+0.0%
Prepaid expenses	378M YoY+17.5%	322M YoY+11.1%	290M YoY+6.4%	272M YoY+9.3%	249M YoY+1.8%
Other current assets	29.4M YoY+0.0%	29.4M YoY+0.0%	29.4M YoY+0.0%	29.4M YoY+0.0%	29.4M YoY+0.0%
	16.6B YoY+59.5%	10.4B YoY-1.5%	10.5B YoY+9.5%	9.64B YoY+4.4%	9.23B YoY+7.9%
Property, plant & equipment	512M YoY+24.2%	412M YoY+3.9%	396M YoY-1.2%	401M YoY+1.4%	396M YoY-2.8%
Operating lease right-of-use	63.8M YoY+36.0%	46.9M YoY-23.7%	61.5M YoY-21.9%	78.7M YoY-23.6%	103M YoY-10.3%
Goodwill	4.51B YoY+139.8%	1.88B YoY+2.7%	1.83B YoY+0.1%	1.83B YoY+0.6%	1.82B YoY+1.7%
Intangible assets	1.95B YoY+901.2%	195M YoY+3.8%	187M YoY-16.6%	225M YoY-18.6%	276M YoY-16.6%
Long-term investments	207M YoY+0.0%	207M YoY+0.0%	207M YoY+0.0%	207M YoY+0.0%	207M YoY+0.0%
Deferred tax assets	0.00	0.00	0.00	0.00	0.00
Other non-current assets	129M YoY+11.7%	115M YoY+76.4%	65.2M YoY+21.4%	53.7M YoY+57.0%	34.2M YoY-10.5%
	6.96B YoY+31.0%	5.31B YoY-8.5%	5.81B YoY+10.2%	5.27B YoY+6.7%	4.94B YoY+11.5%
Accounts payable	130M YoY+24.4%	104M YoY+23.1%	84.7M YoY-19.9%	106M YoY+18.8%	89.0M YoY+12.1%
Deferred revenue	69.4M YoY+38.2%	50.2M YoY+6.1%	47.3M YoY+23.2%	38.4M YoY+1.3%	37.9M YoY-3.3%
Short-term & current debt	400M	0.00 YoY-100.0%	10.2M YoY+17.2%	8.70M YoY+17.6%	7.40M YoY+45.1%
Current lease liability	22.5M YoY+17.2%	19.2M YoY-5.4%	20.3M YoY-19.1%	25.1M YoY-13.1%	28.9M YoY-22.3%
Other current liabilities	552M YoY+17.5%	470M YoY+18.8%	395M YoY+1.8%	388M YoY+15.3%	337M YoY+21.3%
	12.4B YoY+88.9%	6.58B YoY-6.7%	7.05B YoY+7.7%	6.55B YoY+4.3%	6.28B YoY+8.8%
Long-term debt	4.55B YoY+469.5%	799M YoY+0.1%	798M YoY+0.1%	798M YoY+0.1%	797M YoY+0.1%
Non-current lease liability	55.5M YoY+13.3%	49.0M YoY-14.5%	57.3M YoY-23.4%	74.8M YoY-19.0%	92.4M YoY-4.6%
Deferred tax liabilities	445M YoY+417.1%	86.0M YoY-23.3%	112M YoY-32.3%	166M YoY-24.1%	218M YoY-9.5%
Other non-current liabilities	312M YoY+31.8%	237M YoY+20.1%	197M YoY+6.8%	185M YoY-11.0%	208M YoY+19.0%
	4.13B YoY+8.6%	3.80B YoY+8.8%	3.49B YoY+13.2%	3.09B YoY+4.7%	2.95B YoY+6.0%
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	1.90B YoY+9.9%	1.73B YoY+6.3%	1.63B YoY+5.2%	1.55B YoY+6.9%	1.45B YoY+12.2%
Retained earnings	2.28B YoY+2.9%	2.21B YoY+9.4%	2.02B YoY+21.2%	1.67B YoY+15.5%	1.45B YoY+1.0%
Accumulated other comprehensive income	-53.7M YoY+63.0%	-145M YoY+9.3%	-160M YoY-19.4%	-134M YoY-358.5%	51.8M YoY-8.3%
Total liabilities & equity	16.6B YoY+59.5%	10.4B YoY-1.5%	10.5B YoY+9.5%	9.64B YoY+4.4%	9.23B YoY+7.9%
Common shares issued	361M YoY+0.1%	360M YoY-0.1%	361M YoY+0.2%	360M YoY+0.0%	360M YoY+0.3%
Common shares outstanding	361M YoY+0.1%	360M YoY-0.1%	361M YoY+0.2%	360M YoY+0.0%	360M YoY+0.3%
Shares outstanding (cover)	360M YoY+0.1%	360M YoY-0.2%	361M YoY-0.1%	361M YoY+0.2%	360M YoY+0.5%
Cash Flow	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
	1.90B YoY+0.2%	1.90B YoY+11.2%	1.71B YoY+7.3%	1.59B YoY+26.1%	1.26B YoY-12.5%
Depreciation & amortization	210M YoY+18.7%	177M YoY-0.1%	177M YoY-7.9%	192M YoY-0.1%	192M YoY-8.4%
Share-based compensation	112M YoY+83.0%	61.1M YoY-2.4%	62.6M YoY+18.6%	52.8M YoY+0.6%	52.5M YoY+10.8%
Deferred income taxes	-15.8M YoY+47.0%	-29.8M YoY+32.3%	-44.0M YoY-2013.0%	2.30M YoY+111.0%	-21.0M YoY-425.0%
Change in receivables	131M YoY+215.7%	-113M YoY-183.3%	136M YoY-11.9%	154M YoY-43.5%	273M YoY+595.3%
	-3.36B YoY-1186.6%	-261M YoY-223.2%	212M YoY+114.1%	-1.51B YoY-226.8%	-461M YoY-159.7%
Capital expenditure	192M YoY+18.8%	161M YoY+12.9%	143M YoY+6.9%	134M YoY+13.0%	118M YoY-6.8%
Acquisitions	2.97B YoY+1324.6%	208M YoY+7614.8%	2.70M YoY-89.2%	24.9M YoY+27.7%	19.5M YoY+219.7%
Purchases of investments	—	—	—	—	6.09B YoY-75.9%
Proceeds from sale of PP&E	0.00	0.00 YoY-100.0%	16.7M YoY+1291.7%	1.20M YoY-68.4%	3.80M
	2.29B YoY+222.3%	-1.87B YoY-163.5%	-711M YoY+27.4%	-979M YoY-53.9%	-636M YoY+57.2%
Common stock repurchased	105M YoY-38.2%	169M	0.00 YoY-100.0%	145M YoY-6.7%	156M YoY-9.4%
Dividends paid	1.45B YoY+10.1%	1.32B YoY+11.9%	1.18B YoY+17.5%	1000M YoY+10.0%	909M YoY+2.2%
Net change in cash	837M YoY+452.0%	-238M YoY-119.7%	1.21B YoY+234.8%	-895M YoY-647.9%	163M YoY-77.5%
Interest paid	37.5M YoY+3.6%	36.2M YoY+1.4%	35.7M YoY+0.6%	35.5M YoY+1.7%	34.9M YoY-8.2%
Income taxes paid	512M YoY-5.0%	540M YoY+2.6%	526M YoY+32.2%	398M YoY-5.6%	421M YoY+41.0%
Valuation Ratios	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
Market cap	56.9B YoY+31.5%	43.3B YoY+14.3%	37.8B YoY-15.4%	44.7B YoY+22.7%	36.4B YoY+40.6%
P/S	10.8× YoY+27.7%	8.4× YoY+9.3%	7.7× YoY-21.5%	9.8× YoY+4.2%	9.4× YoY+46.1%
P/B	13.8× YoY+21.4%	11.4× YoY+5.1%	10.8× YoY-25.3%	14.5× YoY+18.2%	12.3× YoY+30.4%
P/FCF	35.4× YoY+42.2%	24.9× YoY+2.9%	24.2× YoY-21.2%	30.7× YoY-4.3%	32.1× YoY+45.2%
FCF yield	2.8% YoY-29.7%	4.0% YoY-2.9%	4.1% YoY+26.9%	3.3% YoY+4.5%	3.1% YoY-31.1%
Dividend yield	2.5% YoY-16.2%	3.0% YoY-2.2%	3.1% YoY+38.9%	2.2% YoY-10.2%	2.5% YoY-27.4%
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.

PAYX▼ financial statements

About this data

financial statements