TTM
36.9%
YoY change
−1.57pp
Trough year (1991)
9.7%
Peak year (2024)
41.2%
Latest annual
39.6%
Operating Margin history chart for Paychex (PAYX) from 1986 to 2025
Latest: 39.6%
Operating Margin change chart for Paychex (PAYX) from 1986 to 2025
Latest: −1.57pp
Operating Margin history table for Paychex (PAYX) from 1986 to 2025
| 2025 | 39.6% | -1.57pp | ||
| 2024 | 41.2% | +0.59pp | ||
| 2023 | 40.6% | +0.71pp | ||
| 2022 | 39.9% | +3.89pp | ||
| 2021 | 36.0% | -0.14pp | ||
| 2020 | 36.1% | -0.20pp | ||
| 2019 | 36.3% | -1.73pp | ||
| 2018 | 38.1% | -1.25pp | ||
| 2017 | 39.3% | +0.49pp | ||
| 2016 | 38.8% | +0.38pp | ||
| 2015 | 38.5% | -0.55pp | ||
| 2014 | 39.0% | +0.12pp | ||
| 2013 | 38.9% | +0.60pp | ||
| 2012 | 38.3% | +0.57pp | ||
| 2011 | 37.7% | +1.50pp | ||
| 2010 | 36.2% | -2.44pp | ||
| 2009 | 38.7% | -1.42pp | ||
| 2008 | 40.1% | +2.91pp | ||
| 2007 | 37.2% | -1.62pp | ||
| 2006 | 38.8% | +1.86pp | ||
| 2005 | 36.9% | +3.46pp | ||
| 2004 | 33.5% | -4.86pp | ||
| 2003 | 38.3% | +0.25pp | ||
| 2002 | 38.1% | -0.62pp | ||
| 2001 | 38.7% | +3.15pp | ||
| 2000 | 35.6% | +19.60pp | ||
| 1999 | 16.0% | +2.40pp | ||
| 1998 | 13.5% | +0.40pp | ||
| 1997 | 13.1% | -7.60pp | ||
| 1996 | 20.8% | +1.66pp | ||
| 1995 | 19.1% | +2.67pp | ||
| 1994 | 16.4% | +2.42pp | ||
| 1993 | 14.0% | +2.28pp | ||
| 1992 | 11.7% | +2.02pp | ||
| 1991 | 9.7% | -0.45pp | ||
| 1990 | 10.1% | -3.88pp | ||
| 1989 | 14.0% | +0.43pp | ||
| 1988 | 13.6% | -2.20pp | ||
| 1987 | 15.8% | +0.62pp | ||
| 1986 | 15.2% | — |
- 202539.6%-1.57pp
- 202441.2%+0.59pp
- 202340.6%+0.71pp
- 202239.9%+3.89pp
- 202136.0%-0.14pp
- 202036.1%-0.20pp
- 201936.3%-1.73pp
- 201838.1%-1.25pp
- 201739.3%+0.49pp
- 201638.8%+0.38pp
- 201538.5%-0.55pp
- 201439.0%+0.12pp
- 201338.9%+0.60pp
- 201238.3%+0.57pp
- 201137.7%+1.50pp
- 201036.2%-2.44pp
- 200938.7%-1.42pp
- 200840.1%+2.91pp
- 200737.2%-1.62pp
- 200638.8%+1.86pp
- 200536.9%+3.46pp
- 200433.5%-4.86pp
- 200338.3%+0.25pp
- 200238.1%-0.62pp
- 200138.7%+3.15pp
- 200035.6%+19.60pp
- 199916.0%+2.40pp
- 199813.5%+0.40pp
- 199713.1%-7.60pp
- 199620.8%+1.66pp
- 199519.1%+2.67pp
- 199416.4%+2.42pp
- 199314.0%+2.28pp
- 199211.7%+2.02pp
- 19919.7%-0.45pp
- 199010.1%-3.88pp
- 198914.0%+0.43pp
- 198813.6%-2.20pp
- 198715.8%+0.62pp
- 198615.2%—
Operating Margin values are taken from Paychex's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Paychex (PAYX)
According to Paychex's latest reported financial statements, the company's latest reported operating margin is 36.9%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Paychex (PAYX) reported operating margin of 39.62% – contracted 1.6 percentage points year-over-year.
Across the available history, operating margin reached its high of 41.19% in 2024 and its low of 9.70% in 1991.
Paychex Operating Margin by Year
Paychex Operating Margin 2025: 39.6%
2025's operating margin for Paychex came in at 39.62%, contracted 1.6 percentage points from 2024.
Paychex Operating Margin 2024: 41.2%
Paychex posted operating margin of 41.19% in 2024, expanded 0.6 percentage points from 2023. This figure represents the highest annual value in the available history.
Paychex Operating Margin 2023: 40.6%
In 2023, Paychex reported operating margin of 40.60%, expanded 0.7 percentage points from 2022.
Paychex Operating Margin 2022: 39.9%
Paychex operating margin in 2022 was 39.90%, expanded 3.9 percentage points from 2021.
Paychex Operating Margin 2021: 36.0%
Paychex operating margin in 2021 was 36.01%.
See more financial history for Paychex (PAYX).
Sector peers by Operating Margin
Industrials peers of Paychex (PAYX), ranked by their latest operating margin
| 40.1% | |
| 18.5% | |
| 18.1% | |
| 17.9% | |
| 16.6% | |
| 14.9% | |
| 10.9% | |
| -5.9% |
- 40.1%
- 18.5%
- 17.9%
- 16.6%
- 10.9%
- -5.9%
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