Paychex Inc (PAYX)
Net profit margin
| May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 1,690,400 | 1,660,900 | 1,629,700 | 1,597,300 | 1,557,300 | 1,503,300 | 1,466,600 | 1,438,400 | 1,392,800 | 1,359,400 | 1,279,200 | 1,219,500 | 1,097,500 | 1,055,200 | 1,059,200 | 1,045,500 | 1,098,100 | 1,107,800 | 1,077,900 | 1,055,000 |
| Revenue (ttm) | US$ in thousands | 5,278,300 | 5,212,800 | 5,154,500 | 5,086,900 | 5,007,100 | 4,921,800 | 4,816,800 | 4,735,000 | 4,611,700 | 4,496,600 | 4,332,300 | 4,207,500 | 4,056,800 | 3,942,700 | 3,973,700 | 3,980,700 | 4,040,500 | 4,105,800 | 4,033,500 | 3,901,700 |
| Net profit margin | 32.03% | 31.86% | 31.62% | 31.40% | 31.10% | 30.54% | 30.45% | 30.38% | 30.20% | 30.23% | 29.53% | 28.98% | 27.05% | 26.76% | 26.66% | 26.26% | 27.18% | 26.98% | 26.72% | 27.04% |
May 31, 2024 calculation
Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $1,690,400K ÷ $5,278,300K
= 32.03%
The net profit margin of Paychex Inc has shown a generally positive trend over the past few years, indicating the company's ability to effectively manage its costs and generate earnings from its operations. The net profit margin has consistently ranged between 26% to 32%, with an upward trajectory overall. This suggests that the company has been efficient in converting its revenue into profit after accounting for all expenses and taxes.
The highest net profit margin was recorded at 32.03% in the most recent period ending May 31, 2024, showcasing a strong profitability performance. The lowest margin during the analyzed period was 26.26% in the quarter ending August 31, 2020, which was still relatively healthy.
Overall, the consistent and improving net profit margins reflect a stable financial performance and efficient management of resources by Paychex Inc.