Filing Flows › Paychex (PAYX) › Q4 FY26 › vs Q3 FY26
Paychex (PAYX) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Paychex's revenue fell $203M (-11%) from $1.8B in Q3 FY26 to $1.6B in Q4 FY26. Operating margin 37.7% against 43.8% (-6.1 pts).
Paychex, Q4 FY26: revenue $1.6B (+12% year over year), operating margin 37.7%, net earnings $421M, operating cash flow $581M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Operating margin | 37.7% | 43.8% | -6.1 pts |
| Net margin | 26.2% | 31.0% | -4.8 pts |
| Free cash flow margin | 32.1% | 42.1% | -10.0 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $1.6B | $1.8B | −$203M | -11% |
| Operating profit | $605M | $792M | −$187M | -24% |
| Costs & expenses | $1.0B | $1.0B | −$16.1M | -2% |
| Pre-tax earnings | $554M | $739M | −$185M | -25% |
| Other expense, net | $50.5M | $53.0M | −$2.5M | -5% |
| Cost of revenue | $417M | $431M | −$13.9M | -3% |
| SG&A | $584M | $586M | −$2.2M | -0.4% |
| Net earnings | $421M | $560M | −$140M | -25% |
| Income tax | $134M | $179M | −$45.1M | -25% |
| Depreciation & amortization | $113M | $111M | $2.2M | +2% |
| Share-based compensation | $20.7M | $23.1M | −$2.4M | -10% |
| Working capital & other | $26.4M | $118M | −$91.7M | -78% |
| Operating cash flow | $581M | $812M | −$232M | -29% |
| Free cash flow (OCF − capex) | $515M | $762M | −$246M | -32% |
| Capital expenditures | $65.9M | $51.0M | $14.9M | +29% |
Questions
How much did Paychex's revenue grow quarter over quarter in Q4 FY26?
Paychex's revenue fell $203M (-11%) from $1.8B in Q3 FY26 to $1.6B in Q4 FY26. Operating margin 37.7% against 43.8% (-6.1 pts).