Company / Operating Margin
Paychex Operating Margin History
FY2016-FY2024 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
39.6%
FY2024
5-year range
39.6% / 41.2%
FY2020-FY2024
Trend
-3.8%
vs FY2023
Sector context
#8 of 304
Industrials
What the data says
Among 304 Industrials companies, Paychex is in the top 3% for operating margin. Declined from 40.6% to 39.6% over the past 2 years.
Based on SEC 10-K filings.
39.6% in FY2024 with a 5-year CAGR of +3.5%. Top quartile in the Industrials sector.
Declined from 40.6% to 39.6% over the past 2 years.
Industrials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -0.3pp
- 5-Year Change
- +3.5pp
- 10-Year Change
- -
Sector benchmark
Top 3% in IndustrialsTop 3% of 304This company 39.6% Sector average -842.8%
▼
+104.7% above sector average
Key checks
Key Insights
- In FY2024, operating margin decreased 3.8% year-over-year.
- Currently 882.4pp above the Industrials sector average.
- Peak operating margin was recorded in FY2023.
- Lowest operating margin in the period was in FY2019.
Company context
Key Data Points
- Low Piotroski F-Score: 1/9 (multiple financial health concerns)
- Altman Z-Score 0.34 (distress zone, below 1.8 threshold)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | - | - |
| FY2024 | 39.6% | -3.8% |
| FY2023 | 41.2% | +1.5% |
| FY2022 | 40.6% | +1.8% |
| FY2021 | 39.9% | +4.3% |
| FY2020 | 38.2% | +5.8% |
| FY2019 | 36.1% | -0.6% |
| FY2018 | 36.4% | -4.9% |
| FY2017 | 38.2% | -2.0% |
| FY2016 | 39.0% | +0.4% |
As of FY2024 · SEC 10-K · Updated Jun 30, 2026