Filing Flows › Paychex (PAYX) › Q4 FY25
Paychex (PAYX) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Jul 11, 2025
Paychex (PAYX) reported revenue of $1.4B for the fourth quarter fiscal 2025 (Q4 FY25), +10% from a year earlier and -5% from the quarter before. Operating margin was 30.2%, net earnings $297M (20.8% of revenue).
Paychex, Q4 FY25: revenue $1.4B (+10% year over year), operating margin 30.2%, net earnings $297M, operating cash flow $344M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | -5% | +10% |
| Operating profit | $431M | -38% | -11% |
| Net earnings | $297M | -43% | -22% |
| Operating cash flow | $344M | -52% | +55% |
| Free cash flow | $283M | -58% | +57% |
What changed
Revenue was $1.4B in Q4 FY25, up 10% year over year and down 5% from the previous quarter.
Operating profit was $0.43B, a 30.2% margin (down 7.0 points year over year). Operating profit fell $0.05B even though revenue rose $0.13B versus a year earlier, so costs grew faster than sales. Total costs grew 22% against revenue growth of 10%. The fastest-growing cost line was SG&A (+37%). Net earnings were $0.30B, down 22% year over year. The effective tax rate was 23.7%.
Operating cash flow was $0.34B (up 55% year over year), 116% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.06B left free cash flow of $0.28B.
Questions
What was Paychex's revenue in the fourth quarter fiscal 2025?
Paychex (PAYX) reported revenue of $1.4B for the fourth quarter fiscal 2025 (Q4 FY25), +10% from a year earlier and -5% from the quarter before.
Was Paychex profitable in the fourth quarter fiscal 2025?
Operating profit was $431M (30.2% of revenue) and net earnings $297M.
Source: Paychex 10-K on SEC EDGAR.