Paychex (PAYX) Net Margin (2009 - 2026)

Paychex (PAYX) posted Net Margin of 27.08% for Q2 2026, down 12.58% sequentially from 30.97% in Q1 2026, and up 359.0% YoY from 5.9% in Q2 2025.

Paychex (PAYX) Net Margin (2009 - 2026) Analysis & Trends

Paychex has reported Net Margin for 18 years, with the latest figure at 27.08% in Q2 2026.

Quarterly Net Margin rose 359.0% year-over-year to 27.08% in Q2 2026, while the trailing twelve-month figure through May 2026 was 27.68% (down 362.0% YoY) and the FY2026 annual result came in at 27.93%, down 270.0% from the prior year.
Net Margin retreated to 27.08% in Q2 2026 per PAYX's latest filing, from 30.97% in the prior quarter.
Over five years, Net Margin peaked at 35.73% in Q1 2024 and troughed at 23.48% in Q2 2025.
A 5-year average of 30.83% and a median of 31.97% in 2022 frame the typical range for Net Margin.
The sharpest annual moves came in 2022 and 2024: Net Margin plunged 4904 bps in 2022, then jumped 398 bps in 2024.
Over 5 years, Net Margin stood at 30.27% in 2022, then rose by 6 bps to 32.02% in 2023, then climbed by 1 bps to 32.28% in 2024, then slipped by 19 bps to 26.3% in 2025, then grew by 3 bps to 27.08% in 2026.
According to Business Quant data, Net Margin over the past three periods registered 27.08%, 30.97%, and 26.3% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Net Margin (Qtr)
1	Sap Se	255.48 Bn	234.41 Bn	16.51 Bn	21.16%
2	Shopify	198.95 Bn	194.00 Bn	1.71 Bn	41.92%
3	Salesforce	160.70 Bn	148.86 Bn	8.56 Bn	18.93%
4	Uber Technologies	154.94 Bn	149.73 Bn	6.38 Bn	17.17%
5	ServiceNow	128.25 Bn	123.58 Bn	2.82 Bn	7.47%
6	Snowflake	114.00 Bn	111.05 Bn	926.45 Mn	-21.25%
7	Automatic Data Processing	108.58 Bn	104.35 Bn	2.51 Bn	17.88%
8	Adobe	105.34 Bn	99.72 Bn	5.90 Bn	25.87%
9	Intuit	94.55 Bn	87.77 Bn	7.24 Bn	35.80%
10	Paychex	43.39 Bn	42.27 Bn	1.14 Bn	27.08%

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