Paychex (PAYX) Cost of Revenue (2019 - 2026)
Paychex (PAYX) posted Cost of Revenue of $430.1 million for fiscal Q1 2027 (quarter ended Aug 31, 2026), up 3.9% from $413.8 million a year earlier and up 3.1% from the prior quarter.
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Analysis
Paychex (PAYX) Cost of Revenue (2019 - 2026) Analysis & Trends
For the trailing twelve months through Aug 31, 2026, Cost of Revenue at Paychex was $1.69 billion, up 7.4% year-over-year; for FY2026 (ended May 31, 2026), it came in at $1.67 billion, up 8.7% from FY2025.
- Annual Cost of Revenue has increased for five consecutive fiscal years, with a five-year compound annual growth rate of 5.7% (FY2021 to FY2026).
- In prior fiscal years, Paychex's Cost of Revenue was $1.54 billion in FY2025 (+4.1%), $1.48 billion in FY2024 (+1.8%), $1.45 billion in FY2023 (+7.1%) and $1.36 billion in FY2022 (+6.7%).
- Quarterly Cost of Revenue has run from a low of $331.6 million in fiscal Q2 2022 to a high of $431.2 million in fiscal Q3 2026 over five years.
- On a year-over-year basis, Cost of Revenue has increased in each of the last 22 quarters, with growth averaging 6.2% over the last eight quarters.
- The year-over-year growth in Cost of Revenue has ranged between 1.3% (fiscal Q2 2024) and 14.0% (fiscal Q4 2022) over the last five years.
- According to Business Quant data, Cost of Revenue for the three prior fiscal quarters was $417.3 million (Q4 2026), $431.2 million (Q3 2026) and $412.2 million (Q2 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 449.25 Bn | 418.20 Bn | 1.64 Bn | 296.87 Mn |
| 2 | Oracle | 384.82 Bn | 256.95 Bn | - | - |
| 3 | Sap Se | 259.92 Bn | 187.71 Bn | 8.40 Bn | 3.08 Bn |
| 4 | Salesforce | 196.23 Bn | 152.10 Bn | 8.70 Bn | 2.65 Bn |
| 5 | ServiceNow | 144.54 Bn | 123.00 Bn | 2.82 Bn | 1.17 Bn |
| 6 | Automatic Data Processing | 115.25 Bn | 97.38 Bn | 2.51 Bn | 2.96 Bn |
| 7 | Intuit | 89.19 Bn | 68.54 Bn | 3.44 Bn | 910.00 Mn |
| 8 | Relx | 71.43 Bn | 70.52 Bn | - | - |
| 9 | Strategy | 48.55 Bn | 41.54 Bn | 81.55 Mn | 40.82 Mn |
| 10 | Paychex | 39.28 Bn | 34.36 Bn | 1.20 Bn | 430.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 430.10 Mn |
| May 31, 2026 | 417.30 Mn |
| Feb 28, 2026 | 431.20 Mn |
| Nov 30, 2025 | 412.20 Mn |
| Aug 31, 2025 | 413.80 Mn |
| May 31, 2025 | 393.90 Mn |
| Feb 28, 2025 | 387.40 Mn |
| Nov 30, 2024 | 379.10 Mn |
| Aug 31, 2024 | 380.00 Mn |
| May 31, 2024 | 375.20 Mn |
| Feb 29, 2024 | 379.80 Mn |
| Nov 30, 2023 | 364.10 Mn |
| Aug 31, 2023 | 360.20 Mn |
| May 31, 2023 | 369.80 Mn |
| Feb 28, 2023 | 372.90 Mn |
| Nov 30, 2022 | 359.30 Mn |
| Aug 31, 2022 | 351.00 Mn |
| May 31, 2022 | 360.00 Mn |
| Feb 28, 2022 | 352.20 Mn |
| Nov 30, 2021 | 331.60 Mn |
API Access
Paychex Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=PAYX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "PAYX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=PAYX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();