Paychex (PAYX) Gross Margin (2019 - 2026)
Paychex recorded quarterly Gross Margin of 76.16% in Q1 2026, up 4.94% quarter-over-quarter from 72.58% in Q4 2025, and up 259.0% year-over-year from 21.22% in Q1 2025.
Paychex's Gross Margin history runs 8 years deep, the most recent figure standing at 76.16% for Q1 2026.
- In Q1 2026, Gross Margin rose 259.0% year-over-year to 76.16%; the TTM figure through Feb 2026 stood at 73.51% (up 189.0% YoY), while the FY2025 annual figure was 72.35%, up 38.0% from the prior year.
- Gross Margin came in at 76.16% for Q1 2026 at Paychex, up from 72.58% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 76.16% in Q1 2026 to a low of 69.25% in Q4 2022.
- A 5-year average of 71.59% and a median of 71.26% in 2023 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin tumbled 83 bps in 2022 and surged 259 bps in 2026, its largest moves.
- Paychex's Gross Margin stood at 69.25% in 2022, then increased by 2 bps to 70.31% in 2023, then advanced by 0 bps to 70.4% in 2024, then advanced by 3 bps to 72.58% in 2025, then increased by 5 bps to 76.16% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 76.16%, 72.58%, and 72.27% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 72.98% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 77.61% |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 48.77% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 75.07% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 85.65% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 89.62% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 48.28% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 79.05% |
| 10 | Paychex | 34.86 Bn | 33.07 Bn | 1.38 Bn | 76.16% |
Historic Data
Download Data| Date | Value |
|---|---|
| Feb 28, 2026 | 76.16% |
| Nov 30, 2025 | 72.58% |
| Aug 31, 2025 | 72.27% |
| May 31, 2025 | 72.40% |
| Feb 28, 2025 | 73.58% |
| Nov 30, 2024 | 70.40% |
| Aug 31, 2024 | 71.18% |
| May 31, 2024 | 71.03% |
| Feb 29, 2024 | 72.78% |
| Nov 30, 2023 | 70.31% |
| Aug 31, 2023 | 71.26% |
| May 31, 2023 | 69.30% |
| Feb 28, 2023 | 72.29% |
| Nov 30, 2022 | 69.25% |
| Aug 31, 2022 | 70.46% |
| May 31, 2022 | 69.68% |
| Feb 28, 2022 | 72.08% |
| Nov 30, 2021 | 70.09% |
| Aug 31, 2021 | 71.14% |
| May 31, 2021 | 67.44% |
| Feb 28, 2021 | 70.46% |
| Nov 30, 2020 | 67.48% |
| Aug 31, 2020 | 66.52% |
| May 31, 2020 | 67.22% |
| Feb 29, 2020 | 69.66% |
| Nov 30, 2019 | 66.69% |
| Aug 31, 2019 | 66.51% |