Paychex, Inc.
PAYX Technology Software Application
Paychex, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $6.5 billion, up 16.9% from fiscal 2025. In the quarter to August 2026, revenue grew 5.88%, EPS grew 13.1%, free cash flow fell 46.1% and total debt fell 8.27%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for five; insiders bought in the last twelve months.
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Paychex, Inc. (PAYX) Free cash flow margin
Paychex, Inc.'s free cash flow margin over the twelve months to 31 August 2026 was 30.5%, down 5.1 percentage points from fiscal 2026 (35.7%). Over the past ten years it has ranged from 27.5% (fiscal 2017) to 35.7% (fiscal 2026) — the current reading is the highest in ten years. That is above the Software Application industry median of 5.01% and above the Technology sector median of 1.72%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2026 | 35.7% | 4.98 |
| FY2025 | 30.7% | (2.23) |
| FY2024 | 32.9% | 1.35 |
| FY2023 | 31.6% | (0.05) |
| FY2022 | 31.6% | 3.36 |
| FY2021 | 28.2% | (4.28) |
| FY2020 | 32.5% | 2.10 |
| FY2019 | 30.4% | (2.81) |
| FY2018 | 33.2% | 5.76 |
| FY2017 | 27.5% | (3.71) |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| ZM Zoom Communications, Inc. compare | 38.6% |
| ADSK Autodesk, Inc. compare | 36.0% |
| PTC PTC Inc. compare | 31.7% |
| ROP Roper Technologies, Inc. compare | 30.9% |
| PAYX Paychex, Inc. | 30.5% |
| WDAY Workday, Inc. compare | 28.0% |
| SSNC SS&C Technologies Holdings, Inc. compare | 23.2% |
| TEAM Atlassian Corporation PLC compare | 20.1% |
| MSTR Strategy Inc compare | −4,356.1% |
| Software Application industry median | 5.01% |
| Technology sector median | 1.72% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
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