← PAYCHEX INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total Revenue $3.0b $3.2b $3.4b $3.7b $4.0b $4.0b $4.6b $4.9b $5.1b $5.4b
Cost of Goods and Services Sold $857.1m $919.6m $1.0b $1.1b $1.3b $1.3b $1.4b $1.5b $1.5b $1.5b
Gross Profit (Calculated) (derived) $2.1b $2.2b $2.4b $2.6b $2.7b $2.7b $3.2b $3.5b $3.7b $3.9b
Operating Costs and Expenses $857.1m $919.6m $1.0b $1.2b $1.3b $1.3b $1.4b $1.5b $1.5b $1.5b
Operating Expenses $1.8b $1.9b $2.1b $2.4b $2.6b $2.6b $2.8b $3.0b $3.1b $3.4b
Operating Income (Loss) $1.1b $1.2b $1.3b $1.4b $1.5b $1.5b $1.8b $2.0b $2.2b $2.2b
Additional Financial Items
Amortization of Intangible Assets $15.9m $18.1m $21.1m $55.8m $81.9m $68.6m $58.1m $48.2m $49.0m $90.7m
Foreign Currency Transaction Gain (Loss), Realized $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Goodwill, Impairment Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Income (Loss) from Equity Method Investments ($2.8m) ($2.2m) $600k $1.0m — — — — — —
Interest Income, Operating $46.1m $50.6m $63.5m $80.6m $86.9m $59.3m $57.7m $99.8m $146.3m $161.7m
Interest on funds held for clients $46.1m $50.6m $63.5m $80.6m $86.9m $59.3m $57.7m $99.8m $146.3m $161.7m
Other income, net — — — — — — — $51.8m $81.2m $73.6m
Income taxes $394.3m $427.5m $362.4m $333.6m $339.0m $336.7m $431.8m $490.9m $527.6m $518.6m
Other comprehensive Income (loss), net of tax $21.7m ($9.2m) ($56.2m) $36.3m $56.4m ($4.7m) ($185.7m) ($26.0m) $14.8m $91.4m
Comprehensive income $778.5m $808.1m $877.5m $1.1b $1.2b $1.1b $1.2b $1.5b $1.7b $1.7b
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $1.2b $1.2b $1.3b $1.4b $1.4b $1.4b $1.8b $2.0b $2.2b $2.2b
Total service revenue — $3.1b $3.3b $3.7b $4.0b $4.0b $4.6b $4.9b $5.1b $5.4b
Income before income taxes $1.2b $1.2b $1.3b $1.4b $1.4b $1.4b $1.8b $2.0b $2.2b $2.2b
Net income $756.8m $817.3m $933.7m $1.0b $1.1b $1.1b $1.4b $1.6b $1.7b $1.7b
Earnings Per Share, Basic $2.10 $2.27 $2.60 $2.88 $3.06 $3.05 $3.86 $4.32 $4.69 $4.60
Earnings Per Share, Diluted $2.09 $2.25 $2.58 $2.86 $3.04 $3.03 $3.84 $4.30 $4.67 $4.58
Common Stock, Dividends, Per Share, Declared $2.10 $2.27 $2.60 $2.30 $2.48 $2.52 $2.77 $3.26 $3.65 $4.02
Weighted Average Number of Shares Outstanding, Basic 360.7m 359.8m 359.0m 359.2m 358.5m 359.9m 360.6m 360.4m 360.3m 360.2m
Weighted-average common shares outstanding 360.7m 359.8m 359.0m 359.2m 358.5m 359.9m 360.6m 360.4m 360.3m 360.2m
Weighted-average common shares outstanding, assuming dilution 362.5m 362.6m 361.5m 361.8m 361.0m 362.1m 363.1m 362.3m 362.1m 362.0m
Weighted Average Number of Shares Outstanding, Diluted 362.5m 362.6m 361.5m 361.8m 361.0m 362.1m 363.1m 362.3m 362.1m 362.0m
Other income (expense):
Selling, General and Administrative Expense $948.2m $992.1m $1.1b $1.2b $1.3b $1.3b $1.4b $1.5b $1.6b $1.8b
Selling, general and administrative expenses $948.2m $992.1m $1.1b $1.2b $1.3b $1.3b $1.4b $1.5b $1.6b $1.8b
Other Nonoperating Income (Expense) — — — — $3.1m $7.0m $18.3m $2.7m ($1.5m) $800k
Cost of service revenue $857.1m $919.6m $1.0b $1.2b $1.3b $1.3b $1.4b $1.5b $1.5b $1.5b
Interest Expense (non-operating) — — — — — — — — — $105.4m
Interest Expense $1.1m $2.5m $3.9m $17.6m $38.8m $35.8m $36.6m $36.7m $37.3m ($105.4m)
Current Income Tax Expense (Benefit) $387.2m $410.1m $343.2m $328.9m $343.0m $357.7m $429.5m $534.9m $557.4m $534.4m
Nonoperating Income (Expense) — — — — — — — — — $73.6m
Interest Income (Expense), Nonoperating, Net $4.5m $5.2m $8.6m ($3.3m) ($23.4m) ($26.5m) ($15.4m) $15.1m $43.9m —
Total expenses $1.8b $1.9b $2.1b $2.4b $2.6b $2.6b $2.8b $3.0b $3.1b $3.4b
Income Tax Expense (Benefit) $394.3m $427.5m $362.4m $333.6m $339.0m $336.7m $431.8m $490.9m $527.6m $518.6m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.