Paychex Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (May 31, 2026 · FY), Paychex Inc. reported revenue of $6.5B (+16.9% year on year) and net income of $1.8B (+6.2% year on year).
| Line item | May 31, 2026 · FY | May 31, 2025 · FY | May 31, 2024 · FY | May 31, 2023 · FY |
|---|---|---|---|---|
| Total service revenue | $6.3B | $5.4B | $5.1B | $4.9B |
| Interest on funds held for clients | $210.9M | $161.7M | $146.3M | $99.8M |
| Total revenue | $6.5B | $5.6B | $5.3B | $5.0B |
| Cost of service revenue | $1.7B | $1.5B | $1.5B | $1.5B |
| Selling, general and administrative expenses | $2.3B | $1.8B | $1.6B | $1.5B |
| Total expenses | $4.0B | $3.4B | $3.1B | $3.0B |
| Operating income | $2.5B | $2.2B | $2.2B | $2.0B |
| Interest expense | ($269.5M) | ($105.4M) | — | — |
| Other income, net | $69.9M | $73.6M | — | — |
| Income before income taxes | $2.3B | $2.2B | $2.2B | $2.0B |
| Income taxes | $550.8M | $518.6M | $527.6M | $490.9M |
| Net income | $1.8B | $1.7B | $1.7B | $1.6B |
| Other comprehensive income/(loss), net of tax | $3.8M | $91.4M | $14.8M | ($26.0M) |
| Comprehensive income | $1.8B | $1.7B | $1.7B | $1.5B |
| Basic earnings per share | $4.90 | $4.60 | $4.69 | $4.32 |
| Diluted earnings per share | $4.89 | $4.58 | $4.67 | $4.30 |
| Weighted-average common shares outstanding | 358.9M | 360.2M | 360.3M | 360.4M |
| Weighted-average common shares outstanding, assuming dilution | 360.0M | 362.0M | 362.1M | 362.3M |
| Line item | Aug 31, 2026 · Q1 | Feb 28, 2026 · Q3 | Nov 30, 2025 · Q2 | Aug 31, 2025 · Q1 |
|---|---|---|---|---|
| Total service revenue | $1.6B | $1.8B | $1.5B | $1.5B |
| Interest on funds held for clients | $49.8M | $56.8M | $54.3M | $47.6M |
| Total revenue | $1.6B | $1.8B | $1.6B | $1.5B |
| Cost of service revenue | $430.1M | $431.2M | $412.2M | $413.8M |
| Selling, general and administrative expenses | $581.2M | $585.7M | $573.5M | $584.3M |
| Total expenses | $1.0B | $1.0B | $985.7M | $998.1M |
| Operating income | $619.2M | $792.0M | $571.9M | $541.9M |
| Interest expense | ($65.1M) | ($68.1M) | ($68.5M) | ($68.2M) |
| Other income, net | $10.9M | $15.1M | $16.8M | $23.8M |
| Income before income taxes | $565.0M | $739.0M | $520.2M | $497.5M |
| Income taxes | $135.3M | $178.7M | $124.8M | $113.7M |
| Net income | $429.7M | $560.3M | $395.4M | $383.8M |
| Other comprehensive (loss)/income, net of tax | ($31.4M) | $14.9M | $7.4M | $28.7M |
| Comprehensive income | $398.3M | $575.2M | $402.8M | $412.5M |
| Basic earnings per share | $1.21 | $1.56 | $1.10 | $1.07 |
| Diluted earnings per share | $1.21 | $1.56 | $1.10 | $1.06 |
| Weighted-average common shares outstanding | 355.8M | 358.7M | 359.4M | 360.1M |
| Weighted-average common shares outstanding, assuming dilution | 356.6M | 359.5M | 360.4M | 361.9M |
| Line item | May 31, 2026 · FY | May 31, 2025 · FY | May 31, 2024 · FY | May 31, 2023 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.1B | $1.6B | $1.5B | $1.2B |
| Restricted cash | $52.8M | $47.9M | $47.8M | $49.8M |
| Corporate investments | $36.3M | $34.5M | $33.9M | $373.4M |
| Interest receivable | $36.1M | $27.9M | $23.3M | $24.4M |
| Accounts receivable, net of allowance for credit losses | $1.5B | $1.3B | $1.1B | $873.3M |
| PEO unbilled receivables, net of advance collections | $664.2M | $616.6M | $542.4M | $528.5M |
| Prepaid income taxes | $11.2M | $38.9M | $47.5M | $48.1M |
| Prepaid expenses and other current assets | $384.7M | $378.3M | $321.9M | $289.8M |
| Current assets before funds held for clients | $3.8B | $4.1B | $3.5B | $3.4B |
| Funds held for clients | $4.8B | $4.8B | $3.7B | $4.1B |
| Total current assets | $8.6B | $8.9B | $7.3B | $7.5B |
| Property and equipment, net of accumulated depreciation | $588.9M | $511.5M | $411.7M | $396.3M |
| Operating lease right-of-use assets, net of accumulated amortization | $63.9M | $63.8M | $46.9M | $61.5M |
| Intangible assets, net of accumulated amortization | $1.7B | $1.9B | $194.5M | $187.4M |
| Goodwill | $4.5B | $4.5B | $1.9B | $1.8B |
| Long-term deferred costs | $555.8M | $482.4M | $477.1M | $470.1M |
| Other long-term assets | $141.2M | $128.5M | $115.0M | $65.2M |
| Total assets | $16.2B | $16.6B | $10.4B | $10.5B |
| Accounts payable | $154.8M | $129.8M | $104.3M | $84.7M |
| Accrued corporate compensation and related items | $162.1M | $183.9M | $135.0M | $209.9M |
| Accrued worksite employee compensation and related items | $844.8M | $735.8M | $662.4M | $763.9M |
| Short-term debt | $0 | $18.6M | $18.7M | $10.2M |
| Long-term debt, net, current portion | $0 | $399.8M | — | — |
| Accrued income taxes | $87.8M | — | — | — |
| Deferred revenue | $69.4M | $69.4M | $50.2M | $47.3M |
| Other current liabilities | $637.1M | $552.0M | $469.8M | $395.4M |
| Current liabilities before client fund obligations | $2.0B | $2.1B | $1.4B | $1.5B |
| Client fund obligations | $4.9B | $4.9B | $3.9B | $4.3B |
| Total current liabilities | $6.8B | $7.0B | $5.3B | $5.8B |
| Accrued income taxes | $140.5M | $119.0M | $102.6M | $83.0M |
| Deferred income taxes | $543.3M | $444.7M | $86.0M | $112.1M |
| Long-term debt, net of debt issuance costs | $4.6B | $4.5B | $798.6M | $798.2M |
| Operating lease liabilities | $52.2M | $55.5M | $49.0M | $57.3M |
| Other long-term liabilities | $306.7M | $312.2M | $236.8M | $197.2M |
| Total liabilities | $12.4B | $12.4B | $6.6B | $7.1B |
| Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 355.6 shares as of May 31, 2026 and 360.5 shares as of May 31, 2025 | 3.6M | 3.6M | 3.6M | 3.6M |
| Additional paid-in capital | $2.0B | $1.9B | $1.7B | $1.6B |
| Retained earnings | $1.8B | $2.3B | $2.2B | $2.0B |
| Accumulated other comprehensive loss | ($49.9M) | ($53.7M) | ($145.1M) | ($159.9M) |
| Total stockholders' equity | $3.7B | $4.1B | $3.8B | $3.5B |
| Total liabilities and stockholders' equity | $16.2B | $16.6B | $10.4B | $10.5B |
| Line item | Aug 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $600.9M | $1.7B | $1.5B | $809.0M |
| Restricted cash | $55.0M | $49.8M | $50.7M | $50.4M |
| Corporate investments | $333.3M | $38.1M | $37.6M | $861.9M |
| Interest receivable | $39.2M | $37.0M | $35.0M | $34.0M |
| Accounts receivable, net of allowance for credit losses | $1.6B | $1.4B | $1.4B | $1.4B |
| PEO unbilled receivables, net of advance collections | $680.2M | $598.8M | $640.0M | $609.4M |
| Prepaid income taxes | $11.5M | $37.7M | $56.8M | $9.2M |
| Prepaid expenses and other current assets | $409.2M | $378.2M | $372.5M | $379.4M |
| Current assets before funds held for clients | $3.7B | $4.3B | $4.0B | $4.1B |
| Funds held for clients | $4.3B | $5.6B | $4.9B | $4.9B |
| Total current assets | $8.1B | $9.9B | $8.9B | $9.0B |
| Property and equipment, net of accumulated depreciation | $614.6M | $569.2M | $551.2M | $525.4M |
| Operating lease right-of-use assets, net of accumulated amortization | $75.8M | $69.8M | $80.1M | $64.2M |
| Intangible assets, net of accumulated amortization | $1.6B | $1.7B | $1.8B | $1.9B |
| Goodwill | $4.5B | $4.5B | $4.5B | $4.5B |
| Long-term deferred costs | $571.0M | $530.0M | $504.1M | $489.0M |
| Other long-term assets | $145.4M | $139.6M | $134.5M | $134.0M |
| Total assets | $15.7B | $17.5B | $16.5B | $16.7B |
| Accounts payable | $141.4M | $132.4M | $137.6M | $120.6M |
| Accrued corporate compensation and related items | $132.5M | $176.7M | $147.1M | $151.7M |
| Accrued worksite employee compensation and related items | $824.7M | $824.6M | $807.2M | $779.7M |
| Accrued income taxes | $81.1M | $62.5M | $44.4M | — |
| Deferred revenue | $70.8M | $70.3M | $70.5M | $68.8M |
| Other current liabilities | $648.8M | $609.0M | $531.5M | $641.1M |
| Current liabilities before client fund obligations | $1.9B | $2.3B | $2.2B | $2.2B |
| Client fund obligations | $4.4B | $5.6B | $4.9B | $4.9B |
| Total current liabilities | $6.3B | $7.9B | $7.0B | $7.1B |
| Accrued income taxes | $145.5M | $136.6M | $130.5M | $124.9M |
| Deferred income taxes | $537.6M | $553.5M | $531.9M | $518.0M |
| Long-term borrowings, net of debt issuance costs | $4.6B | $4.6B | $4.6B | $4.6B |
| Operating lease liabilities | $62.9M | $59.3M | $66.6M | $52.9M |
| Other long-term liabilities | $311.2M | $315.2M | $316.5M | $317.6M |
| Total liabilities | $12.0B | $13.5B | $12.6B | $12.7B |
| Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 356.0 shares as of August 31, 2026 and 355.6 shares as of May 31, 2026 | 3.6M | 3.6M | 3.6M | 3.6M |
| Additional paid-in capital | $2.0B | $2.0B | $1.9B | $1.9B |
| Retained earnings | $1.8B | $2.0B | $1.9B | $2.1B |
| Accumulated other comprehensive loss | ($81.3M) | ($2.7M) | ($17.6M) | ($25.0M) |
| Total stockholders' equity | $3.7B | $4.0B | $3.9B | $4.0B |
| Total liabilities and stockholders' equity | $15.7B | $17.5B | $16.5B | $16.7B |
| Line item | May 31, 2026 · FY | May 31, 2025 · FY | May 31, 2024 · FY | May 31, 2023 · FY |
|---|---|---|---|---|
| Net income | $1.8B | $1.7B | $1.7B | $1.6B |
| Depreciation and amortization | $442.6M | $209.5M | $176.5M | $176.6M |
| Amortization of discounts and premiums on AFS securities, net | ($7.6M) | $23.4M | ($7.0M) | $18.2M |
| Amortization of deferred contract costs | $249.2M | $236.5M | $231.7M | $219.1M |
| Stock-based compensation costs | $96.1M | $111.8M | $61.1M | $62.6M |
| Provision of/(benefit from) deferred income taxes | $103.7M | ($15.8M) | ($29.8M) | ($44.0M) |
| Provision for credit losses | $38.1M | $24.2M | $19.8M | $17.7M |
| Net realized (gains)/losses on sales of AFS securities | ($7.6M) | $400.0K | $2.6M | — |
| Net realized losses on disposal of assets | $6.2M | $3.7M | $32.8M | — |
| Premium paid on cash flow hedges | $0 | ($19.2M) | — | — |
| Interest receivable | ($8.2M) | ($3.8M) | $1.1M | ($2.1M) |
| Accounts receivable and PEO unbilled receivables, net | ($105.8M) | ($130.7M) | $113.0M | ($123.6M) |
| Prepaid expenses and other current assets | $40.0M | ($12.0M) | ($25.2M) | ($17.8M) |
| Accounts payable and other current liabilities | $291.4M | $42.3M | ($127.0M) | $67.4M |
| Deferred costs | ($342.5M) | ($246.5M) | ($244.9M) | ($269.4M) |
| Net change in other long-term assets and liabilities | $3.9M | $21.9M | $6.1M | $31.9M |
| Net change in operating lease right-of-use assets and liabilities | ($2.9M) | ($2.1M) | ($3.5M) | ($4.3M) |
| Net cash provided by operating activities | $2.6B | $1.9B | $1.9B | $1.7B |
| Purchases of AFS securities | ($12.2B) | ($14.3B) | ($6.9B) | ($14.6B) |
| Proceeds from sales and maturities of AFS securities | $11.5B | $14.3B | $7.2B | $14.9B |
| Net change in purchased receivables | ($166.1M) | ($157.3M) | ($153.8M) | — |
| Purchases of property and equipment | ($234.9M) | ($191.8M) | ($161.4M) | ($143.0M) |
| Acquisition of businesses, net of cash acquired | ($400.0K) | ($3.0B) | ($208.3M) | ($2.7M) |
| Purchases of other assets | ($42.4M) | ($29.8M) | ($30.1M) | ($10.4M) |
| Net cash used in investing activities | ($1.2B) | ($3.4B) | ($260.9M) | $218.5M |
| Net change in client fund obligations | $17.6M | ($290.7M) | ($425.3M) | $474.8M |
| Net proceeds from short-term borrowings | ($18.8M) | $0 | $9.0M | $2.0M |
| Payments on long-term borrowings | ($400.0M) | — | — | — |
| Proceeds from issuance of corporate bonds | $0 | $4.2B | — | — |
| Dividends paid | ($1.6B) | ($1.4B) | ($1.3B) | ($1.2B) |
| Repurchases of common shares | -611.0M | -104.5M | -169.2M | — |
| Debt issuance costs | $0 | ($47.8M) | — | — |
| Activity related to equity-based plans | ($52.0M) | $3.8M | $26.1M | ($10.4M) |
| Net cash (used in)/provided by financing activities | ($2.7B) | $2.3B | ($1.9B) | ($711.4M) |
| Net change in cash, restricted cash, and equivalents | ($1.2B) | $837.3M | ($237.9M) | $1.2B |
| Cash, restricted cash, and equivalents, beginning of fiscal year | $2.7B | $1.9B | $2.1B | $928.4M |
| Cash, restricted cash, and equivalents, end of fiscal year | $1.5B | $2.7B | $1.9B | $2.1B |
| Cash and cash equivalents | $1.1B | $1.6B | $1.5B | $1.2B |
| Restricted cash | $52.8M | $47.9M | $47.8M | $49.8M |
| Restricted cash and restricted cash equivalents included in funds held for clients | $343.8M | $1.1B | $380.3M | $863.1M |
| Total cash, restricted cash, and equivalents | $1.5B | $2.7B | $1.9B | $2.1B |
| Line item | Aug 31, 2026 · Q1 | Feb 28, 2026 · YTD | Nov 30, 2025 · YTD | Aug 31, 2025 · Q1 |
|---|---|---|---|---|
| Net income | $429.7M | $1.3B | $779.2M | $383.8M |
| Depreciation and amortization | $109.8M | $329.4M | $218.4M | $109.3M |
| Amortization of premiums and discounts on AFS securities and long-term debt, net | ($2.2M) | ($5.7M) | ($4.1M) | ($2.1M) |
| Amortization of deferred contract costs | $66.0M | $184.6M | $121.8M | $60.4M |
| Stock-based compensation costs | $19.3M | $75.4M | $52.3M | $26.8M |
| Provision on deferred income taxes | $9.3M | $99.0M | $77.2M | $66.0M |
| Provision for credit losses | $8.6M | $29.1M | $12.2M | $7.7M |
| Net realized (gains)/losses on sales of AFS securities | $0 | ($7.4M) | ($7.1M) | $0 |
| Interest receivable | ($3.1M) | ($9.1M) | ($7.1M) | ($6.1M) |
| Accounts receivable and PEO unbilled receivables, net | ($73.3M) | ($67.1M) | ($56.1M) | ($18.9M) |
| Prepaid expenses and other current assets | ($19.8M) | $12.5M | ($7.8M) | $29.5M |
| Accounts payable and other current liabilities | ($56.7M) | $232.0M | $122.3M | $124.9M |
| Deferred costs | ($86.1M) | ($244.7M) | ($148.6M) | ($68.5M) |
| Net change in other long-term assets and liabilities | $12.0M | $9.8M | $11.2M | $6.3M |
| Net change in operating lease right-of-use assets and liabilities | $0 | ($1.5M) | ($500.0K) | ($700.0K) |
| Net cash provided by operating activities | $413.5M | $2.0B | $1.2B | $718.4M |
| Purchases of AFS securities | ($5.1B) | ($10.7B) | ($6.5B) | ($3.7B) |
| Proceeds from sales and maturities of AFS securities | $4.9B | $10.1B | $5.8B | $2.5B |
| Net purchases of short-term accounts receivable | ($63.2M) | ($85.3M) | ($65.2M) | ($47.0M) |
| Purchases of property and equipment | ($56.1M) | ($169.0M) | ($118.0M) | ($55.9M) |
| Acquisition of businesses, net of cash acquired | ($18.1M) | ($400.0K) | ($300.0K) | ($200.0K) |
| Purchases of other assets, net | ($6.9M) | ($25.0M) | ($19.5M) | ($15.0M) |
| Net cash used in investing activities | ($335.8M) | ($925.0M) | ($926.4M) | ($1.3B) |
| Net change in client fund obligations | ($443.9M) | $736.6M | $17.7M | $81.4M |
| Dividends paid | ($424.1M) | ($1.2B) | ($777.0M) | ($389.1M) |
| Repurchases of common shares | 0 | -361.6M | -286.6M | -160.1M |
| Contingent consideration paid for acquisitions | ($15.0M) | — | — | — |
| Activity related to equity-based plans | ($23.6M) | ($53.7M) | ($51.9M) | ($47.6M) |
| Net cash used in financing activities | ($906.6M) | ($862.5M) | ($1.1B) | ($515.4M) |
| Net change in cash, restricted cash, and equivalents | ($828.9M) | $188.3M | ($860.9M) | ($1.1B) |
| Cash, restricted cash, and equivalents, beginning of period | $1.5B | $2.7B | $2.7B | $2.7B |
| Cash, restricted cash, and equivalents, end of period | $655.9M | $2.9B | $1.9B | $1.6B |
| Cash and cash equivalents | $600.9M | $1.7B | $1.5B | $809.0M |
| Restricted cash | $55.0M | $49.8M | $50.7M | $50.4M |
| Restricted cash and restricted cash equivalents included in funds held for clients | $0 | $1.1B | $337.1M | $775.2M |
| Total cash, restricted cash, and equivalents | $655.9M | $2.9B | $1.9B | $1.6B |
Paychex Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.