Paychex (PAYX) Gross Margin (2019 - 2026)
Paychex (PAYX) reported Gross Margin of 73.13% for Q2 2026, up 426.0% on a YoY basis from 13.9% in Q2 2025, and down 3.98% sequentially from 76.16% in Q1 2026.
Paychex (PAYX) Gross Margin (2019 - 2026) Analysis & Trends
Paychex (PAYX) has 8 years of Gross Margin data on file, last reported at 73.13% in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 426.0% year-over-year to 73.13%; the trailing twelve-month figure through May 2026 stood at 73.66% (up 276.0% YoY), and the FY2026 full-year result was 73.43%, up 190.0% from the prior year.
- Gross Margin retreated to 73.13% in Q2 2026, from 76.16% 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 67.34% in Q2 2024.
- A 5-year average of 71.19% and a median of 70.86% in 2022 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin plunged 196 bps in 2024 and soared 426 bps in 2026, its largest moves.
- Tracing PAYX's Gross Margin over 5 years: stood at 69.81% in 2022, then rose by 1 bps to 70.31% in 2023, then rose by 0 bps to 70.4% in 2024, then rose by 3 bps to 72.58% in 2025, then advanced by 1 bps to 73.13% in 2026.
- Business Quant data shows PAYX's Gross Margin at 73.13% in Q2 2026, 76.16% in Q1 2026, and 72.58% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | - |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 48.77% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 45.03% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 76.92% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 70.68% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | 48.28% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | 66.61% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 95.85% |
| 10 | Paychex | 39.35 Bn | 38.23 Bn | 1.14 Bn | 73.13% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 73.13% |
| Feb 28, 2026 | 76.16% |
| Nov 30, 2025 | 72.58% |
| Aug 31, 2025 | 72.27% |
| May 31, 2025 | 68.88% |
| Feb 28, 2025 | 73.58% |
| Nov 30, 2024 | 70.40% |
| Aug 31, 2024 | 70.34% |
| May 31, 2024 | 67.34% |
| 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 | 69.81% |
| Aug 31, 2022 | 70.46% |
| May 31, 2022 | 68.13% |
| Feb 28, 2022 | 72.40% |
| Nov 30, 2021 | 69.70% |
| Aug 31, 2021 | 70.75% |