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Sentiment · FY2026 Q4
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2025 Q1 | $1.32B | +2.5% | $1.18 | +1.7% | 41.5% | 32.4% | $511M |
| FY2025 Q2 | $1.32B | +4.7% | $1.14 | +5.6% | 40.9% | 31.4% | $248M |
| FY2025 Q3 | $1.51B | +4.8% | $1.43 | +3.6% | 45.8% | 34.4% | $667M |
| FY2025 Q4 | $1.43B | +10.2% | $0.82 | -21.9% | 30.2% | 20.8% | $345M |
| FY2026 Q1 | $1.54B | +16.8% | $1.06 | -10.2% | 35.2% | 24.9% | $663M |
| FY2026 Q2 | $1.56B | +18.3% | $1.10 | -3.5% | 36.7% | 25.4% | $383M |
| FY2026 Q3 | $1.81B | +19.9% | $1.55 | +8.4% | 43.8% | 31.0% | $762M |
| FY2026 Q4 | $1.61B | +12.5% | $1.17 | +42.7% | 37.7% | 26.2% | $515M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Samad Samana | Jefferies | 13 (8%) |
| Jason Kupferberg | Wells Fargo | 12 (0%) |
| Tien-Tsin Huang | JPMorgan | 11 (0%) |
| Mark Marcon | Robert W. Baird | 11 (9%) |
| Kartik Mehta | Northcoast Research | 10 (0%) |
| Scott Wurtzel | Wolfe Research | 10 (0%) |
| Andrew Nicholas | William Blair | 10 (0%) |
| Bryan Keane | Citigroup | 8 (0%) |
| James Faucette | Morgan Stanley | 7 (0%) |
| Ramsey El-Assal | Cantor Fitzgerald | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 13 (8%) |
| Wells Fargo | 1 | 12 (0%) |
| William Blair | 2 | 12 (0%) |
| Robert W. Baird | 1 |
| 11 (9%) |
| JPMorgan | 1 | 11 (0%) |
| Wolfe Research | 1 | 10 (0%) |
| Morgan Stanley | 2 | 10 (0%) |
| Northcoast Research | 1 | 10 (0%) |
Paychex delivered 20% total revenue growth to $1.8 billion with approximately 6% organic growth, and adjusted EPS of $1.71, up 15% year-over-year. Organic growth accelerated to 6% in the back half as expected. PEO outpaced the industry with double-digit metrics, and the enterprise segment grew approximately 10%. AI was driving a multi-year margin expansion runway. Full-year guidance was reiterated unchanged, with the Paycor anniversary approaching and enterprise momentum building.
Revenue Growth | M&A | Demand | Competitive Dynamics | Macroeconomic | Cloud & AI | Guidance Reliability | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 7 | 1 | 3 | 4 | 1 | 2 | ||
| 2025Q2 | 4 | 1 | 6 | 6 | 4 | 2 | 1 | 1 |
| 2025Q3 | 6 | 5 | 5 | 3 | 4 | 3 | 2 | 1 |
| 2025Q4 | 7 | 8 | 1 | 6 | 2 | 2 | ||
| 2026Q1 | 8 | 7 | 2 | 2 | 1 | 2 | 1 | |
| 2026Q2 | 9 | 5 | 9 | 3 | 1 | 4 | 3 | 4 |
| 2026Q3 | 16 | 12 | 7 | 4 | 2 | 6 | 6 | 3 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|---|---|
| Revenue Growth | 7 | 4 | 6 | 7 | 8 | 9 | 16 |
| M&A | 1 | 1 | 5 | 8 | 7 | 5 | 12 |
| Demand | 3 | 6 | 5 | 1 | 2 | 9 | 7 |
| Competitive Dynamics | 4 | 6 | 3 | 2 | 3 | 4 | |
| Macroeconomic | 4 | 4 | 6 | 1 | 1 | 2 | |
| Cloud & AI | 2 | 3 | 2 | 4 | 6 | ||
| Guidance Reliability | 1 | 1 | 2 | 2 | 1 | 3 | 6 |
| Pricing | 2 | 1 | 1 | 2 | 4 | 3 |
What PAYX and other companies said about each other on FY2026 Q3 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Paycor contributed approximately 19 percentage points to growth.”
Paychex's acquisition of Paycor (closed April 2025) is driving Management Solutions growth and enterprise-market expansion, contributing about 19 points to Management Solutions revenue growth this quarter.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PAYX Paychex | 6 | +19.9% | |
| ADP ADP | 7 | +7.0% |