Automatic Data Processing Inc. (ADP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$2.6	$2.64	+1.5%	—	—	—
Q4 26	$3.3	$3.37	+2.1%	—	—	—
Q3 26	$2.57	$2.62	+1.9%	—	—	—
Q2 26	$2.44	$2.49	+2.0%	—	—	—
Q1 26	$2.23	$2.26	+1.3%	—	—	—
Q4 25	$2.97	$3.06	+3.0%	—	—	—
Q3 25	$2.3	$2.35	+2.2%	—	—	—
Q2 25	$2.21	$2.33	+5.4%	—	—	—
Q1 25	$2.06	$2.09	+1.5%	—	—	—
Q4 24	$2.78	$2.88	+3.6%	—	—	—
Q3 24	$2.1	$2.13	+1.4%	—	—	—
Q2 24	$2.02	$2.08	+3.0%	—	—	—
Q1 24	$1.83	$1.89	+3.3%	—	—	—
Q4 23	$2.45	$2.52	+2.9%	—	—	—
Q3 23	$1.94	$1.96	+1.0%	—	—	—
Q2 23	$1.79	$1.86	+3.9%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	—	—	—	$21.9B	—
FY25	—	$10	—	—	$20.6B	—
FY24	—	$9.14	—	—	$18.2B	—
FY23	—	$8.25	—	—	$17.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$12B	$12.8B	$13.5B	$14B	$14.6B	$16B	$17.2B	$18.2B	$20.6B	$21.9B
YoY change	+6.06%	+6.96%	+5.78%	+3.66%	+3.83%	+10%	+7.18%	+5.69%	+13.1%	+6.74%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	12B	12.8B	13.5B	14B	14.6B	16B	17.2B	18.2B	20.6B	21.9B
Cost of revenue	7.2B	7.8B	8B	8.4B	8.6B	9.5B	10B	10.5B	11.1B	11.8B
Gross profit	4.7B	5.1B	5.5B	5.6B	5.9B	6.6B	7.2B	7.7B	9.5B	10.2B
Gross margin	39.5%	39.4%	40.8%	39.9%	40.8%	41%	42.1%	42.4%	46%	46.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.8B	3B	3.1B	3B	3B	3.2B	3.5B	3.8B	4.1B	4.4B
Operating expenses	2.8B	3B	3.1B	3B	3B	3.2B	3.5B	3.8B	4.1B	4.4B
Operating income	2B	2.1B	2.5B	2.6B	2.9B	3.4B	3.7B	3.9B	5.4B	5.8B
Operating margin	16.3%	16.3%	18.2%	18.5%	19.9%	21.3%	21.8%	21.6%	26.3%	26.3%
Non-operating income, net	343.2M	-255.6M	13.5M	63.5M	59.8M	-19.9M	-16.8M	45.4M	34.6M	39.6M
Pretax income	2.6B	2.3B	3B	3.2B	3.4B	3.8B	4.4B	4.9B	5.3B	5.7B
Income tax	829.1M	397.7M	712.8M	716.1M	762.7M	855.2M	1B	1.1B	1.2B	1.3B
Net income	1.8B	1.9B	2.3B	2.5B	2.6B	2.9B	3.4B	3.8B	4.1B	4.4B
Net margin	14.9%	14.7%	16.9%	17.6%	17.8%	18.4%	19.8%	20.6%	19.8%	20.1%
EBITDA	3B	2.8B	3.5B	3.8B	3.9B	4.4B	5.3B	5.8B	6.3B	6.8B
EPS	3.99	4.28	5.27	5.73	6.1	7.04	8.25	9.14	10	—
Diluted EPS	3.97	4.25	5.24	5.7	6.07	7	8.21	9.1	9.98	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	4.3B	4.4B	4.9B	4.5B	4.8B	5B	5.6B	5.1B	5.2B	5.4B	5.9B	5.5B
Cost of revenue	2.5B	2.6B	2.8B	2.6B	2.6B	2.7B	2.9B	2.8B	2.8B	2.9B	3.1B	3B
Gross profit	1.8B	1.9B	2.2B	1.9B	2.2B	2.3B	2.6B	2.3B	2.3B	2.5B	2.9B	2.5B
Gross margin	41.6%	42.3%	43.9%	41.4%	45.5%	45.7%	47.7%	45.1%	45.2%	46.1%	48.3%	45.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	880.3M	922.5M	932.5M	1B	926.7M	1B	1B	1.1B	1B	1.1B	1.1B	1.3B
Operating expenses	880.3M	922.5M	932.5M	1B	926.7M	1B	1B	1.1B	1B	1.1B	1.1B	1.3B
Operating income	915M	958.6M	1.2B	824.8M	1.3B	1.3B	1.6B	1.2B	1.3B	1.4B	1.8B	1.3B
Operating margin	21.2%	21.6%	25%	18.4%	26.3%	25.7%	29.4%	23.5%	25.8%	26.2%	30.1%	23%
Non-operating income, net	21.2M	7.9M	—	7.9M	10M	7.2M	7.8M	9.6M	8.6M	9M	11.2M	10.9M
Pretax income	1.1B	1.1B	1.5B	1.1B	1.2B	1.3B	1.6B	1.2B	1.3B	1.4B	1.8B	1.3B
Income tax	233.4M	265.4M	361.4M	260M	279.9M	298.1M	372.4M	280M	294.5M	321.2M	422M	279.2M
Net income	859.4M	878.4M	1.2B	829.3M	956.3M	963.2M	1.2B	910.7M	1B	1.1B	1.4B	978.6M
Net margin	19.9%	19.8%	24%	18.5%	19.8%	19.1%	22.5%	17.8%	19.6%	19.8%	22.9%	17.9%
EBITDA	1.3B	1.4B	1.8B	1.3B	1.5B	1.5B	1.8B	1.4B	1.6B	1.7B	2B	1.5B
EPS	2.09	2.14	2.89	2.03	2.34	2.36	3.07	2.24	2.5	2.63	3.39	2.45
Diluted EPS	2.08	2.13	2.88	2.02	2.34	2.35	3.06	2.23	2.49	2.62	3.38	2.45

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	45.9B	59.1B	71.9B	64.1B	84.7B	88B	90.9B	98B	125.5B	—	103.7B
Enterprise value	45.1B	58.9B	72.2B	64.6B	85.4B	90B	92.3B	98.8B	126.8B	—	106B
Shares outstanding	447.8M	440.6M	435M	430.8M	426.3M	418.8M	413.7M	410.6M	407.1M	—	—

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	25.7	31.4	31.4	26	32.6	29.8	26.6	26.1	30.8	—	24.1
P/S	3.83	4.61	5.31	4.57	5.81	5.48	5.29	5.39	6.11	—	4.76
P/B	11.5	12.5	13.3	11.2	14.9	27.3	25.9	21.6	20.3	—	17.4
EV/EBITDA	15	21.3	20.4	17.1	21.7	20.4	17.6	17.1	20	—	16.5
EV/Sales	3.77	4.6	5.33	4.6	5.86	5.61	5.37	5.44	6.17	—	4.83
Earnings yield	3.9%	3.19%	3.19%	3.85%	3.07%	3.35%	3.75%	3.83%	3.25%	—	4.15%
FCF yield	3.61%	3.46%	2.95%	3.76%	3.06%	2.89%	4%	3.67%	3.5%	—	5.05%
PEG	—	—	—	—	—	—	—	—	—	—	2.57

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	39.5%	39.4%	40.8%	39.9%	40.8%	41%	42.1%	42.4%	46%	46.4%	45.9%
Operating margin	16.3%	16.3%	18.2%	18.5%	19.9%	21.3%	21.8%	21.6%	26.3%	26.3%	23.5%
Net margin	14.9%	14.7%	16.9%	17.6%	17.8%	18.4%	19.8%	20.6%	19.8%	20.1%	20.1%
ROE	45%	39.8%	42.5%	42.9%	45.8%	91.4%	97.2%	82.5%	65.9%	73.2%	72.2%
ROA	4.81%	4.85%	5.47%	6.3%	5.33%	4.68%	6.69%	6.9%	7.64%	6.98%	6.25%
ROIC	41.8%	37.8%	32.9%	32.4%	34.8%	50.5%	59.3%	56.6%	56.1%	62.9%	62.9%
Return on tangible assets	5.51%	5.78%	6.53%	7.68%	6.24%	5.28%	7.82%	7.99%	9.35%	8.28%	8.28%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.1	1.05	1.05	1.05	1.07	0.99	0.99	1.01	1.05	1.05	1.05
Quick ratio	1.1	1.05	1.05	1.05	1.07	0.99	0.99	1.01	1.05	1.05	1.05
Debt / equity	0.5	0.42	0.42	0.41	0.59	1.08	0.98	0.81	1.46	0.87	0.91
Debt / assets	0.05	0.05	0.05	0.06	0.07	0.06	0.07	0.07	0.17	0.08	0.08
Net debt / EBITDA	-0.26	-0.06	0.09	0.12	0.2	0.45	0.26	0.14	0.19	0.15	0.15
Interest coverage	33.7	23.2	24.1	30.7	57.3	47.4	18.5	14.5	12.6	13.5	13.5
Effective tax rate	31.7%	17.4%	23.7%	22.5%	22.7%	22.5%	23.1%	23%	23.2%	23%	23%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	26.7	29.1	31.1	32.6	34.2	38.3	41.6	44.3	50.5	—	54.6
EPS (basic)	3.99	4.28	5.27	5.73	6.1	7.04	8.25	9.14	10	—	—
EPS (diluted)	3.97	4.25	5.24	5.7	6.07	7	8.21	9.1	9.98	—	10.9
Book value per share	8.88	10.7	12.4	13.4	13.3	7.7	8.48	11.1	15.2	—	15.2
FCF per share	3.7	4.64	4.88	5.59	6.07	6.08	8.79	8.75	10.8	—	11.9
Cash per share	6.21	4.93	4.51	4.43	6.04	3.54	5.07	7.1	19.3	—	10.6
Capex per share	0	0	0.02	0.07	0.04	0.08	0	0.07	0.03	—	0.49

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	0%	0%	0.06%	0.21%	0.13%	0.21%	0%	0.16%	0.05%	0.9%	0.9%
Capex / operating cash flow	0%	0.03%	0.59%	1.36%	0.7%	1.17%	0%	0.77%	0.23%	3.61%	3.61%
Payout ratio	55.7%	56.4%	56.4%	59.6%	60.6%	56.3%	55.8%	58.2%	58.8%	59.5%	60.7%
Dividend yield	2.17%	1.8%	1.8%	2.29%	1.86%	1.89%	2.09%	2.23%	1.91%	—	2.6%

Yield

2.6%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.70

ex-dividend Sep 11, 2026

Payout ratio

61%

of earnings

Dividend growth

42 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 11, 2026	$1.70
Jun 12, 2026	$1.70
Mar 13, 2026	$1.70

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	$4.3B	$4.4B	$4.9B	$4.5B	$4.8B	$5B	$5.6B	$5.1B	$5.2B	$5.4B	$5.9B	$5.5B
YoY change	+5.79%	+5.68%	+5.44%	+5.88%	+12.1%	+13.6%	+12.6%	+14.1%	+7.09%	+6.16%	+6.95%	+6.77%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	2.8B	2.2B	2B	1.9B	2.6B	1.5B	2.1B	2.9B	7.8B	4.2B
Receivables	1.7B	2B	2.4B	2.4B	2.7B	3.2B	3B	3.4B	3.6B	3.5B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	32.7B	31.8B	34.3B	31.6B	40.7B	54.8B	42.2B	45.5B	43.3B	52.6B
Property, plant & equipment	779.9M	793.7M	764.2M	1.2B	1.1B	1.1B	1.1B	1.1B	1B	1B
Goodwill & intangibles	4.7B	6.3B	6.8B	7.1B	7.1B	7.3B	7.4B	7.4B	9.8B	9.9B
Total assets	37.2B	38.8B	41.9B	39.2B	48.8B	63.1B	51B	54.4B	53.4B	63.2B
Accounts payable	149.7M	135.4M	125.5M	102M	141.1M	110.2M	96.8M	100.6M	169.1M	162.5M
Short-term debt	—	—	262M	1B	23.5M	136.4M	105.4M	385.4M	4.8B	—
Total current liabilities	29.8B	30.4B	32.6B	30.1B	38.1B	55.2B	42.8B	45.1B	41.3B	50B
Long-term debt	2B	2B	2B	1.3B	3.3B	3.4B	3.3B	3.3B	4.3B	5.3B
Total liabilities	33.2B	34.1B	36.5B	33.4B	43.1B	59.8B	47.5B	49.8B	47.2B	57.2B
Shareholders' equity	4B	4.7B	5.4B	5.8B	5.7B	3.2B	3.5B	4.5B	6.2B	6B
Total debt	2B	2B	2.3B	2.4B	3.4B	3.5B	3.4B	3.7B	9.1B	5.3B
Net debt	-778M	-167.6M	315M	454.1M	776.5M	2.1B	1.4B	791.9M	5.7B	1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Cash & short-term investments	1.4B	1.6B	3.3B	2.9B	7.3B	2.2B	2.7B	7.8B	7.7B	2.5B	3.2B	4.2B
Receivables	3.1B	3.4B	3.5B	3.4B	3.3B	3.5B	3.5B	3.6B	3.5B	3.4B	3.6B	3.5B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	40.5B	48.5B	55.6B	45.5B	39.9B	54.3B	46.5B	43.3B	44.2B	74.5B	54.2B	52.6B
Property, plant & equipment	1B	1B	1B	1.1B	1.1B	1B	1B	1B	1B	1B	1B	1B
Goodwill & intangibles	7.4B	7.4B	7.3B	7.4B	7.4B	9.8B	9.8B	9.8B	9.7B	9.8B	9.9B	9.9B
Total assets	49.3B	57.1B	64.2B	54.4B	49.5B	64.1B	56.4B	53.4B	54.3B	84.6B	64.5B	63.2B
Accounts payable	67.4M	76.8M	84.6M	100.6M	145.2M	186.4M	146.3M	169.1M	129M	143.1M	136.1M	162.5M
Short-term debt	343.8M	21.6M	—	385.4M	5.4B	1B	1B	4.8B	5.2B	—	—	—
Total current liabilities	41.2B	48.1B	54.9B	45.1B	39.4B	54.3B	45.8B	41.3B	41.9B	72.1B	52B	50B
Long-term debt	3.3B	3.3B	3.3B	3.3B	3.3B	3.3B	3.3B	4.3B	4.3B	4.3B	4.3B	5.3B
Total liabilities	45.9B	52.7B	59.6B	49.8B	44.2B	59B	50.6B	47.2B	47.9B	78.2B	58.1B	57.2B
Shareholders' equity	3.5B	4.3B	4.6B	4.5B	5.3B	5.1B	5.9B	6.2B	6.4B	6.4B	6.4B	6B
Total debt	3.7B	3.3B	3.3B	3.7B	8.7B	4.3B	4.3B	9.1B	9.5B	4.3B	4.3B	5.3B
Net debt	2.2B	1.7B	8.1M	791.9M	6.6B	2.1B	1.6B	5.7B	7B	1.9B	1.1B	1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	1.8B	1.9B	2.3B	2.5B	2.6B	2.9B	3.4B	3.8B	4.1B	4.4B
Depreciation & amortization	316.1M	377.6M	409M	480M	510.7M	515.1M	549.3M	561.9M	582.4M	585.9M
Stock-based compensation	138.9M	175.4M	167.3M	130.8M	175.3M	201.7M	220.4M	243.5M	266.1M	242.6M
Change in working capital	-2.3B	-2B	-2.5B	-2B	-1.3B	-1.8B	-1.2B	-1.9B	-1.4B	-1.5B
Operating cash flow	842.1M	1.1B	1.3B	2.2B	2.7B	2.9B	3.9B	3.7B	4.7B	5.4B
Capital expenditure	0	400K	7.9M	29.4M	18.8M	34.2M	0	28.3M	10.8M	-196.6M
Investing cash flow	6.2B	-2B	-1.6B	3.8B	-3B	-6.5B	-1.9B	-825.6M	-2.5B	-4.2B
Dividends paid	-995.2M	-1.1B	-1.3B	-1.5B	-1.6B	-1.7B	-1.9B	-2.2B	-2.4B	-2.6B
Share repurchases	-1.3B	-989.3M	-937.7M	-1B	-1.4B	-2B	-1.1B	-1.2B	-1.3B	-2.1B
Financing cash flow	-8.4B	-1.7B	-280.6M	-5.9B	6.3B	13.6B	-15.8B	-1.5B	-7.1B	4.9B
Net change in cash	-1.3B	-2.6B	-574.5M	-13.2M	6B	10B	-13.8B	1.4B	-4.9B	6.1B
Free cash flow	1.7B	2B	2.1B	2.4B	2.6B	2.5B	3.6B	3.6B	4.4B	4.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Net income	859.4M	878.4M	1.2B	829.3M	956.3M	963.2M	1.2B	910.7M	1B	1.1B	1.4B	978.6M
Depreciation & amortization	141.5M	140.1M	144.6M	135.7M	138.6M	151.1M	147M	145.7M	146.7M	145.6M	146.4M	147.2M
Stock-based compensation	58.8M	73.6M	56.3M	54.8M	60.6M	79.1M	62.8M	63.6M	58.7M	73.2M	51M	59.7M
Change in working capital	-705.1M	-547.8M	-344M	-313.4M	-323.5M	-525.1M	-293.8M	-293.7M	-549.8M	-235.8M	-500.8M	-229.5M
Operating cash flow	633.3M	807.2M	1.3B	949.7M	1.2B	946.4M	1.4B	1.1B	642.3M	1.1B	2.2B	1.4B
Capital expenditure	22M	4.4M	1.9M	0	3.3M	0	0	7.5M	-46.7M	-26.5M	-50.6M	-72.8M
Investing cash flow	-89.8M	280.3M	-936.9M	-70.7M	-1.5B	-1.1B	-418.4M	558.8M	-1.8B	-561.9M	-1.1B	-841.9M
Dividends paid	-515.8M	-516.3M	-575.9M	-575.1M	-572.6M	-572.5M	-628M	-625.8M	-626.7M	-629.3M	-687.1M	-683.2M
Share repurchases	-250M	-254.7M	-291.5M	-435.5M	-372.6M	-272.3M	-311.6M	-324M	-366M	-515.8M	-581.4M	-620.1M
Financing cash flow	-1.9B	5.7B	5.8B	-11.1B	-6.5B	18.3B	-9.8B	-4.7B	221.9M	29.2B	-22.1B	-2.4B
Net change in cash	-1.3B	6.8B	6.2B	-10.3B	-6.9B	18.1B	-8.8B	-3B	-904.3M	29.7B	-20.9B	-1.9B
Free cash flow	200.2M	898.9M	1.3B	1.2B	684.7M	1B	1.4B	1.3B	501.5M	991.4M	2B	1.2B

Date	Ratio
Oct 1, 2014	1139:1000
Apr 2, 2007	10000:9033
Jan 4, 1999	2:1
Jan 2, 1996	2:1
May 1, 1991	2:1
Jun 9, 1986	2:1
May 22, 1981	2:1

Automatic Data Processing Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history