Paychex (PAYX) Operating Margin: History & Chart

Paychex, Inc.(PAYX)

Staffing & Employment Services · Rochester, NY

$116.93+0.00 (+0.00%)

Delayed quote: Sep 8, 2026, 4:00 PM EDT

About Paychex, Inc.

Founded in 1971 and headquartered in Rochester, New York, Paychex, Inc. delivers comprehensive human capital management (HCM) solutions. The company primarily serves small to medium-sized enterprises (SMEs) across the United States, Europe, and India, addressing their needs in human resources, payroll administration, employee benefits, and insurance. Its diverse service portfolio includes: Payroll Management: Encompassing core payroll processing, payroll tax administration, employee payment facilitation, and ensuring compliance with regulations like new-hire reporting and garnishment processing. Human Resources Solutions: Providing support for employer compliance, HR and employee benefits administration, risk management outsourcing, and even the availability of professionally trained on-site HR representatives. Retirement Services: Offering full administration for retirement plans, which covers implementation, ongoing adherence to government regulations, reporting for both participants and employers, online access capabilities, electronic funds transfers, and other administrative tasks. Cloud-based HR Software: A suite of software products designed for efficient HR administration, including tools for benefits management, time and attendance tracking, digital communication, recruitment, and onboarding processes. Additional Business Services: This category features plan administration outsourcing, state unemployment insurance services, and various support functions for SMBs such as payroll funding and outsourcing (including payroll processing, invoicing, and tax preparation), payment processing solutions, financial wellness programs, and a resource center for small business loans. Insurance Offerings: Providing both property and casualty coverage, which includes workers' compensation, business-owner policies, cybersecurity protection, and commercial auto insurance, alongside health and benefits coverage like medical, dental, vision, and life insurance. Paychex primarily distributes its services through its dedicated direct sales team.

Rochester, NY

17,600 employees

www.paychex.com

Industrials / Staffing & Employment Services

Sector: Industrials
Industry: Staffing & Employment Services
CEO: John Gibson Jr.

View full financials

PAYX Operating Margin Metrics

OPERATING MARGIN

38.55%

OPERATING MARGIN AVG TTM

36.71%

OPERATING MARGIN AVG 3Y

39.45%

OPERATING MARGIN AVG 5Y

39.59%

OPERATING MARGIN AVG 10Y

38.43%

OPERATING MARGIN AVG 15Y

38.57%

OPERATING MARGIN AVG 20Y

38.61%

CURRENT VS TTM AVG

+5.01%

CURRENT VS 3Y AVG

-2.29%

CURRENT VS 5Y AVG

-2.64%

CURRENT VS 10Y AVG

+0.32%

CURRENT VS 15Y AVG

-0.06%

CURRENT VS 20Y AVG

-0.15%

SECTOR MEDIAN · INDUSTRIALS

11.95%

median of 154 covered companies

CURRENT VS SECTOR MEDIAN

+222.73%

vs the sector median at left

NAME	MARKET CAP	OPERATING MARGIN	TTM	3Y	5Y
Paychex, Inc. (PAYX)	$41.59B	38.55%	36.71%	39.45%	39.59%
Waste Connections, Inc. (WCN)vs ›	$41.12B	17.09%	15.05%	15.68%	14.53%
Ferrovial SE (FER)vs ›	$42.06B	10.04%	9.74%	7.94%	6.55%
Axon Enterprise, Inc. (AXON)vs ›	$40.74B	2.61%	0.29%	4.66%	-0.46%
Thomson Reuters Corporation (TRI)vs ›	$43.13B	27.64%	27.84%	29.41%	28.25%
Ferguson plc (FERG)vs ›	$43.89B	9.01%	9.34%	9.14%	9.16%
HEICO Corporation (HEI)vs ›	$44.04B	24.04%	22.17%	22.07%	21.76%
Old Dominion Freight Line, Inc. (ODFL)vs ›	$38.89B	25.84%	25.66%	27.17%	26.29%
Rocket Lab USA, Inc. (RKLB)vs ›	$38.13B	-38.03%	-40.77%	-54.59%	-89.77%
HEICO Corporation (HEI-A)vs ›	$45.27B	24.04%	22.17%	22.07%	21.76%

NAME

MARKET CAP

OPERATING MARGIN

TTM

Paychex, Inc. (PAYX)

$41.59B

38.55%

36.71%

39.45%

39.59%

Waste Connections, Inc. (WCN)vs ›

$41.12B

17.09%

15.05%

15.68%

14.53%

Ferrovial SE (FER)vs ›

$42.06B

10.04%

9.74%

7.94%

6.55%

Axon Enterprise, Inc. (AXON)vs ›

$40.74B

2.61%

0.29%

4.66%

-0.46%

Thomson Reuters Corporation (TRI)vs ›

$43.13B

27.64%

27.84%

29.41%

28.25%

Ferguson plc (FERG)vs ›

$43.89B

9.01%

9.34%

9.14%

9.16%

HEICO Corporation (HEI)vs ›

$44.04B

24.04%

22.17%

22.07%

21.76%

Old Dominion Freight Line, Inc. (ODFL)vs ›

$38.89B

25.84%

25.66%

27.17%

26.29%

Rocket Lab USA, Inc. (RKLB)vs ›

$38.13B

-38.03%

-40.77%

-54.59%

-89.77%

HEICO Corporation (HEI-A)vs ›

$45.27B

24.04%

22.17%

22.07%

21.76%

Operating Margin FAQ

What is the operating margin for Paychex, Inc. (PAYX)?

The operating margin for PAYX stock is 38.55%.

Is Paychex, Inc.'s operating margin high or low?

The operating margin of 38.55% is in line with its 5-year average of 39.59%, around the middle of its 5-year range (30.20%–45.84%).

What is the TTM average operating margin for Paychex, Inc. (PAYX)?

The TTM average operating margin for PAYX stock is 36.71%.

What is the 3Y average operating margin for Paychex, Inc. (PAYX)?

The 3Y average operating margin for PAYX stock is 39.45%.

What is the 5Y average operating margin for Paychex, Inc. (PAYX)?

The 5Y average operating margin for PAYX stock is 39.59%.

What is the 10Y average operating margin for Paychex, Inc. (PAYX)?

The 10Y average operating margin for PAYX stock is 38.43%.

What is the 15Y average operating margin for Paychex, Inc. (PAYX)?

The 15Y average operating margin for PAYX stock is 38.57%.

What is the 20Y average operating margin for Paychex, Inc. (PAYX)?

The 20Y average operating margin for PAYX stock is 38.61%.

DATE	OPERATING MARGIN
2026-05-31	37.66%
2026-02-28	43.78%
2025-11-30	36.72%
2025-08-31	35.19%
2025-05-31	30.20%
2025-02-28	45.84%
2024-11-30	40.86%
2024-08-31	41.46%
2024-05-31	37.20%
2024-02-29	45.15%
2023-11-30	40.24%
2023-08-31	41.70%
2023-05-31	36.87%
2023-02-28	44.31%
2022-11-30	39.68%
2022-08-31	41.09%
2022-05-31	34.43%
2022-02-28	44.11%
2021-11-30	39.72%
2021-08-31	40.90%
2021-05-31	34.38%
2021-02-28	42.15%
2020-11-30	36.02%
2020-08-31	30.47%
2020-05-31	32.74%
2020-02-29	41.14%
2019-11-30	34.49%
2019-08-31	35.19%
2019-05-31	32.08%
2019-02-28	40.11%
2018-11-30	35.77%
2018-08-31	37.12%
2018-05-31	36.48%
2018-02-28	33.76%
2017-11-30	40.19%
2017-08-31	42.24%
2017-05-31	37.43%
2017-02-28	38.53%
2016-11-30	40.33%
2016-08-31	41.12%
2016-05-31	36.65%
2016-02-29	37.20%
2015-11-30	40.73%
2015-08-31	40.95%
2015-05-31	36.35%
2015-02-28	37.53%
2014-11-30	39.95%
2014-08-31	40.12%
2014-05-31	35.73%
2014-02-28	39.39%
2013-11-30	40.72%
2013-08-31	41.96%
2013-05-31	36.19%
2013-02-28	37.92%
2012-11-30	41.12%
2012-08-31	41.16%
2012-05-31	35.52%
2012-02-29	37.67%
2011-11-30	40.73%
2011-08-31	41.61%
2011-05-31	34.97%
2011-02-28	38.28%
2010-11-30	39.82%
2010-08-31	38.74%
2010-05-31	35.98%
2010-02-28	34.07%
2009-11-30	39.97%
2009-08-31	39.03%
2009-05-31	41.46%
2009-02-28	37.35%
2008-11-30	40.43%
2008-08-31	41.49%
2008-05-31	38.10%
2008-02-29	39.54%
2007-11-30	41.25%
2007-08-31	41.53%
2007-05-31	32.81%
2007-02-28	35.65%
2006-11-30	40.08%
2006-08-31	40.57%
2006-05-31	38.08%
2006-02-28	37.30%
2005-11-30	39.67%
2005-08-31	40.33%
2005-05-31	37.68%
2005-02-28	36.21%
2004-11-30	36.54%
2004-08-31	37.30%
2004-05-31	26.32%
2004-02-29	34.00%
2003-11-30	36.79%
2003-08-31	37.21%
2003-05-31	41.37%
2003-02-28	35.24%
2002-11-30	36.90%
2002-08-31	40.56%

DATE

OPERATING MARGIN

2026-05-31

37.66%

2026-02-28

43.78%

2025-11-30

36.72%

2025-08-31

35.19%

2025-05-31

30.20%

2025-02-28

45.84%

2024-11-30

40.86%

2024-08-31

41.46%

2024-05-31

37.20%

2024-02-29

45.15%

2023-11-30

40.24%

2023-08-31

41.70%

2023-05-31

36.87%

2023-02-28

44.31%

2022-11-30

39.68%

2022-08-31

41.09%

2022-05-31

34.43%

2022-02-28

44.11%

2021-11-30

39.72%

2021-08-31

40.90%

2021-05-31

34.38%

2021-02-28

42.15%

2020-11-30

36.02%

2020-08-31

30.47%

2020-05-31

32.74%

2020-02-29

41.14%

2019-11-30

34.49%

2019-08-31

35.19%

2019-05-31

32.08%

2019-02-28

40.11%

2018-11-30

35.77%

2018-08-31

37.12%

2018-05-31

36.48%

2018-02-28

33.76%

2017-11-30

40.19%

2017-08-31

42.24%

2017-05-31

37.43%

2017-02-28

38.53%

2016-11-30

40.33%

2016-08-31

41.12%

2016-05-31

36.65%

2016-02-29

37.20%

2015-11-30

40.73%

2015-08-31

40.95%

2015-05-31

36.35%

2015-02-28

37.53%

2014-11-30

39.95%

2014-08-31

40.12%

2014-05-31

35.73%

2014-02-28

39.39%

2013-11-30

40.72%

2013-08-31

41.96%

2013-05-31

36.19%

2013-02-28

37.92%

2012-11-30

41.12%

2012-08-31

41.16%

2012-05-31

35.52%

2012-02-29

37.67%

2011-11-30

40.73%

2011-08-31

41.61%

2011-05-31

34.97%

2011-02-28

38.28%

2010-11-30

39.82%

2010-08-31

38.74%

2010-05-31

35.98%

2010-02-28

34.07%

2009-11-30

39.97%

2009-08-31

39.03%

2009-05-31

41.46%

2009-02-28

37.35%

2008-11-30

40.43%

2008-08-31

41.49%

2008-05-31

38.10%

2008-02-29

39.54%

2007-11-30

41.25%

2007-08-31

41.53%

2007-05-31

32.81%

2007-02-28

35.65%

2006-11-30

40.08%

2006-08-31

40.57%

2006-05-31

38.08%

2006-02-28

37.30%

2005-11-30

39.67%

2005-08-31

40.33%

2005-05-31

37.68%

2005-02-28

36.21%

2004-11-30

36.54%

2004-08-31

37.30%

2004-05-31

26.32%

2004-02-29

34.00%

2003-11-30

36.79%

2003-08-31

37.21%

2003-05-31

41.37%

2003-02-28

35.24%

2002-11-30

36.90%

2002-08-31

40.56%

Operating Margin: 38.55%

PAYX Operating Margin

PAYX Average Operating Margin Chart

PAYX Current vs Average Operating Margin Chart

PAYX Operating Margin Metrics

PAYX Competitors' Operating Margin

Operating Efficiency

Operating Margin Formula & Definition

Operating Margin FAQ

PAYX Operating Margin History

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