Paychex annual free cash flow
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2026
Paychex Free Cash Flow (FCF) History (PAYX)
Paychex reported $2.32B in free cash flow for fiscal 2026, an increase of 35.85% from the previous fiscal year, with a free cash flow margin of 36.85%.
View full Paychex company overviewPaychex free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2026 | 2026-05-31 | $2.32B | $612.7M | +35.85% | +36.85% |
| 2025 | 2025-05-31 | $1.71B | −$27.2M | −1.57% | +31.59% |
| 2024 | 2024-05-31 | $1.74B | $173.1M | +11.07% | +33.83% |
| 2023 | 2023-05-31 | $1.56B | $107.3M | +7.37% | +31.85% |
| 2022 | 2022-05-31 | $1.46B | $314.0M | +27.50% | +31.97% |
| 2021 | 2021-05-31 | $1.14B | −$172.0M | −13.09% | +28.57% |
| 2020 | 2020-05-31 | $1.31B | $166.2M | +14.48% | +33.23% |
| 2019 | 2019-05-31 | $1.15B | $25.3M | +2.25% | +31.09% |
| 2018 | 2018-05-31 | $1.12B | $256.3M | +29.59% | +33.87% |
| 2017 | 2017-05-31 | $866.1M | −$54.4M | −5.91% | +27.92% |
| 2016 | 2016-05-31 | $920.5M | $128.1M | +16.17% | +31.18% |
| 2015 | 2015-05-31 | $792.4M | −$4.4M | −0.55% | +28.92% |
| 2014 | 2014-05-31 | $796.8M | $220.2M | +38.19% | +31.63% |
| 2013 | 2013-05-31 | $576.6M | −$40.4M | −6.55% | +24.79% |
| 2012 | 2012-05-31 | $617.0M | $2.2M | +0.36% | +27.67% |
| 2011 | 2011-05-31 | $614.8M | $65.2M | +11.86% | +29.50% |
| 2010 | 2010-05-31 | $549.6M | −$74.5M | −11.94% | +27.47% |
| 2009 | 2009-05-31 | $624.1M | −$18.3M | −2.85% | +29.96% |
| 2008 | 2008-05-31 | $642.4M | — | — | +31.09% |
Paychex quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q4 2026 | 2026-05-31 | $515.0M | $231.7M | +81.79% | +33.16% |
| Q3 2026 | 2026-02-28 | $761.5M | $94.2M | +14.12% | +43.46% |
| Q2 2026 | 2025-11-30 | $382.8M | $134.8M | +54.35% | +25.46% |
| Q1 2026 | 2025-08-31 | $662.5M | $152.0M | +29.77% | +44.39% |
| Q4 2025 | 2025-05-31 | $283.3M | $102.9M | +57.04% | +20.50% |
| Q3 2025 | 2025-02-28 | $667.3M | $36.3M | +5.75% | +45.52% |
| Q2 2025 | 2024-11-30 | $248.0M | −$22.6M | −8.35% | +19.36% |
| Q1 2025 | 2024-08-31 | $510.5M | −$143.8M | −21.98% | +39.85% |
| Q4 2024 | 2024-05-31 | $180.4M | −$191.0M | −51.43% | +14.35% |
| Q3 2024 | 2024-02-29 | $631.0M | $93.0M | +17.29% | +45.22% |
| Q2 2024 | 2023-11-30 | $270.6M | −$49.5M | −15.46% | +22.06% |
| Q1 2024 | 2023-08-31 | $654.3M | $320.6M | +96.07% | +52.21% |
| Q4 2023 | 2023-05-31 | $371.4M | −$15.5M | −4.01% | +30.83% |
| Q3 2023 | 2023-02-28 | $538.0M | −$40.2M | −6.95% | +39.98% |
| Q2 2023 | 2022-11-30 | $320.1M | $184.5M | +136.06% | +27.39% |
| Q1 2023 | 2022-08-31 | $333.7M | −$21.5M | −6.05% | +28.08% |
| Q4 2022 | 2022-05-31 | $386.9M | $28.7M | +8.01% | +34.25% |
| Q3 2022 | 2022-02-28 | $578.2M | $170.6M | +41.85% | +45.83% |
| Q2 2022 | 2021-11-30 | $135.6M | −$46.2M | −25.41% | +12.39% |
| Q1 2022 | 2021-08-31 | $355.2M | $160.9M | +82.81% | +33.25% |
| Q4 2021 | 2021-05-31 | $358.2M | $5.1M | +1.44% | +35.30% |
| Q3 2021 | 2021-02-28 | $407.6M | −$48.5M | −10.63% | +37.17% |
| Q2 2021 | 2020-11-30 | $181.8M | −$54.5M | −23.06% | +18.76% |
| Q1 2021 | 2020-08-31 | $194.3M | −$74.1M | −27.61% | +21.18% |
| Q4 2020 | 2020-05-31 | $353.1M | $140.2M | +65.85% | +39.68% |
| Q3 2020 | 2020-02-29 | $456.1M | −$42.3M | −8.49% | +40.67% |
| Q2 2020 | 2019-11-30 | $236.3M | $49.2M | +26.30% | +24.34% |
| Q1 2020 | 2019-08-31 | $268.4M | $19.1M | +7.66% | +27.63% |
| Q4 2019 | 2019-05-31 | $212.9M | −$42.6M | −16.67% | +22.22% |
| Q3 2019 | 2019-02-28 | $498.4M | $55.4M | +12.51% | +47.58% |
| Q2 2019 | 2018-11-30 | $187.1M | $88.8M | +90.34% | +22.26% |
| Q1 2019 | 2018-08-31 | $249.3M | −$76.3M | −23.43% | +29.48% |
| Q4 2018 | 2018-05-31 | $255.5M | $91.9M | +56.17% | +30.86% |
| Q3 2018 | 2018-02-28 | $443.0M | $107.1M | +31.88% | +48.26% |
| Q2 2018 | 2017-11-30 | $98.3M | $6.1M | +6.62% | +12.46% |
| Q1 2018 | 2017-08-31 | $325.6M | $51.2M | +18.66% | +41.79% |
| Q4 2017 | 2017-05-31 | $163.6M | −$35.7M | −17.91% | +21.82% |
| Q3 2017 | 2017-02-28 | $335.9M | −$13.9M | −3.97% | +42.21% |
| Q2 2017 | 2016-11-30 | $92.2M | −$22.1M | −19.34% | +11.95% |
| Q1 2017 | 2016-08-31 | $274.4M | $17.3M | +6.73% | +34.93% |
| Q4 2016 | 2016-05-31 | $199.3M | $27.7M | +16.14% | +26.44% |
| Q3 2016 | 2016-02-29 | $349.8M | $88.1M | +33.66% | +46.48% |
| Q2 2016 | 2015-11-30 | $114.3M | −$6.6M | −5.46% | +15.82% |
| Q1 2016 | 2015-08-31 | $257.1M | $18.9M | +7.93% | +35.56% |
| Q4 2015 | 2015-05-31 | $171.6M | $17.8M | +11.57% | +24.79% |
| Q3 2015 | 2015-02-28 | $261.7M | −$28.0M | −9.67% | +37.16% |
| Q2 2015 | 2014-11-30 | $120.9M | $9.2M | +8.24% | +17.88% |
| Q1 2015 | 2014-08-31 | $238.2M | −$3.4M | −1.41% | +35.72% |
| Q4 2014 | 2014-05-31 | $153.8M | $109.4M | +246.40% | +24.07% |
| Q3 2014 | 2014-02-28 | $289.7M | $29.0M | +11.12% | +44.54% |
| Q2 2014 | 2013-11-30 | $111.7M | $35.9M | +47.36% | +18.12% |
| Q1 2014 | 2013-08-31 | $241.6M | $45.9M | +23.45% | +39.41% |
| Q4 2013 | 2013-05-31 | $44.4M | −$72.5M | −62.02% | +7.59% |
| Q3 2013 | 2013-02-28 | $260.7M | $13.7M | +5.55% | +43.94% |
| Q2 2013 | 2012-11-30 | $75.8M | −$10.3M | −11.96% | +13.31% |
| Q1 2013 | 2012-08-31 | $195.7M | $28.7M | +17.19% | +33.85% |
| Q4 2012 | 2012-05-31 | $116.9M | −$24.0M | −17.03% | +21.20% |
| Q3 2012 | 2012-02-29 | $247.0M | $48.2M | +24.25% | +43.37% |
| Q2 2012 | 2011-11-30 | $86.1M | −$11.3M | −11.60% | +15.78% |
| Q1 2012 | 2011-08-31 | $167.0M | −$10.7M | −6.02% | +29.66% |
| Q4 2011 | 2011-05-31 | $140.9M | $52.9M | +60.11% | +26.96% |
| Q3 2011 | 2011-02-28 | $198.8M | −$6.8M | −3.31% | +37.42% |
| Q2 2011 | 2010-11-30 | $97.4M | $17.9M | +22.52% | +19.02% |
| Q1 2011 | 2010-08-31 | $177.7M | $1.2M | +0.68% | +34.29% |
| Q4 2010 | 2010-05-31 | $88.0M | −$26.1M | −22.85% | +17.73% |
| Q3 2010 | 2010-02-28 | $205.6M | −$15.3M | −6.91% | +40.49% |
| Q2 2010 | 2009-11-30 | $79.5M | −$11.3M | −12.48% | +16.01% |
| Q1 2010 | 2009-08-31 | $176.5M | −$21.8M | −11.01% | +35.29% |
| Q4 2009 | 2009-05-31 | $114.1M | — | — | +23.00% |
| Q3 2009 | 2009-02-28 | $220.9M | — | — | +41.78% |
| Q2 2009 | 2008-11-30 | $90.8M | — | — | +17.33% |
| Q1 2009 | 2008-08-31 | $198.3M | — | — | +37.14% |
Paychex free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $1.14B to $2.32B, a compound annual growth rate of 15.25%. Paychex's latest reported quarter, Q4 2026, generated $515.0M in free cash flow, an increase of 81.79% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Paychex filings at SEC.gov ↗