Paychex (PAYX) Gross Margin (2019 - 2026)
Paychex's (PAYX) quarterly Gross Margin came in at 76.16% in Q1 2026, up 259.0% year-on-year from 21.22% in Q1 2025, and up 4.94% quarter-over-quarter from 72.58% in Q4 2025.
Paychex (PAYX) Gross Margin (2019 - 2026) Analysis & Trends
Paychex has disclosed Gross Margin across 8 years of filings, most recently posting 76.16% for Q1 2026.
- Gross Margin for Q1 2026 came in at 76.16%, up 259.0% year-over-year; the trailing twelve-month figure through Feb 2026 was 73.51% (up 189.0% YoY), and the FY2025 annual result 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.
- The 5-year median for Gross Margin is 71.26% (2023), against an average of 71.59%.
- Across the five-year window, Gross Margin plunged 83 bps in 2022 and jumped 259 bps in 2026, its largest moves.
- Paychex's Gross Margin stood at 69.25% in 2022, then grew by 2 bps to 70.31% in 2023, then gained by 0 bps to 70.4% in 2024, then gained by 3 bps to 72.58% in 2025, then grew by 5 bps to 76.16% in 2026.
- The last three Gross Margin figures came in at 76.16% (Q1 2026), 72.58% (Q4 2025), and 72.27% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Paychex | 36.04 Bn | 34.25 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% |