Paychex (PAYX) Operating Margin (2009 - 2026)

Paychex has disclosed Operating Margin across 18 years of filings, most recently posting 37.66% for Q2 2026.

• In Q2 2026, Operating Margin rose 746.0% year-over-year to 37.66%; the TTM figure through May 2026 stood at 38.55% (down 107.0% YoY), while the FY2026 annual figure was 38.55%, down 107.0% from the prior year.
• Operating Margin came in at 37.66% for Q2 2026 at Paychex, down from 43.78% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 45.84% in Q1 2025 to a low of 30.2% in Q2 2025.
• Average Operating Margin over 5 years is 39.81%, with a median of 40.55% recorded in 2023.
• Year-over-year, Operating Margin plunged 700 bps in 2025 and surged 746 bps in 2026.
• Over 5 years, Operating Margin stood at 39.68% in 2022, then advanced by 1 bps to 40.24% in 2023, then rose by 2 bps to 40.86% in 2024, then fell by 10 bps to 36.72% in 2025, then grew by 3 bps to 37.66% in 2026.
• Per Business Quant data, the three most recent Operating Margin figures were 37.66% in Q2 2026, 43.78% in Q1 2026, and 36.72% in Q4 2025.