Filing Flows › Paychex (PAYX) › Operating margin
Paychex (PAYX) operating margin by quarter
Paychex's operating margin was 38.0% in Q1 FY27 (first quarter fiscal 2027), +0.3 pts from Q4 FY26. Over the last 7 quarters it ranged from 30.2% (Q4 FY25) to 45.8% (Q3 FY25).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q1 FY27 | 38.0% | +0.3 pts | +2.8 pts |
| Q4 FY26 | 37.7% | -6.1 pts | +7.5 pts |
| Q3 FY26 | 43.8% | +7.1 pts | -2.1 pts |
| Q2 FY26 | 36.7% | +1.5 pts | — |
| Q1 FY26 | 35.2% | +5.0 pts | — |
| Q4 FY25 | 30.2% | -15.6 pts | — |
| Q3 FY25 | 45.8% | — | — |
Q1 FY27 at a glance
Paychex, Q1 FY27: revenue $1.6B (+6% year over year), operating margin 38.0%, net earnings $430M, operating cash flow $414M. The chart follows the revenue to costs, profit and cash.
Questions
What is Paychex's operating margin?
Paychex's operating margin was 38.0% in Q1 FY27 (first quarter fiscal 2027), +0.3 pts from Q4 FY26.
How has Paychex's operating margin changed?
Over the last 7 quarters it ranged from 30.2% (Q4 FY25) to 45.8% (Q3 FY25).