• Paychex average ebitda margin for 2023 was 48.76%, a 0.51% increase from 2022.
• Paychex average ebitda margin for 2022 was 49.01%, a 3.11% decline from 2021.
• Paychex average ebitda margin for 2021 was 47.53%, a 2.37% increase from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.