Automatic Data Processing (ADP) Financials

$210.60 -0.72 (-0.34%)

Closing price 05/5/2026 04:00 PM Eastern

Extended Trading

$209.84 -0.75 (-0.36%)

As of 05:40 AM Eastern

Annual Income Statements for Automatic Data Processing

This table shows Automatic Data Processing's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	1,453	1,493	1,788	1,885	2,293	2,467	2,599	2,949	3,412	3,752	4,080
Consolidated Net Income / (Loss)	1,453	1,493	1,788	1,885	2,293	2,467	2,599	2,949	3,412	3,752	4,080
Net Income / (Loss) Continuing Operations	1,377	1,493	1,788	1,885	2,293	2,467	2,599	2,949	3,412	3,752	4,080
Total Pre-Tax Income	2,071	2,235	2,617	2,283	3,006	3,183	3,361	3,804	4,438	4,872	5,310
Total Operating Income	2,014	2,191	2,354	2,557	3,024	3,142	3,325	3,721	4,507	4,947	5,412
Total Gross Profit	4,511	4,828	5,128	5,517	6,089	6,145	6,365	7,835	8,904	9,682	10,452
Total Revenue	10,939	11,668	12,372	13,274	14,110	14,590	15,005	16,498	18,012	19,203	20,561
Operating Revenue	10,939	11,668	12,372	13,274	14,110	14,590	15,005	16,498	18,012	19,203	20,561
Total Cost of Revenue	6,428	6,840	7,245	7,757	8,022	8,445	8,640	9,462	9,953	10,477	11,097
Operating Cost of Revenue	6,428	6,840	7,245	7,757	8,022	8,445	8,640	8,663	9,109	9,521	10,109
Total Operating Expenses	2,497	2,637	2,774	2,959	3,064	3,003	3,041	4,114	4,396	4,735	5,040
Selling, General & Admin Expense	2,497	2,637	2,774	2,959	3,064	3,003	3,041	3,233	3,551	3,779	4,052
Research & Development Expense	-	-	-	-	-	-	-	799	845	956	989
Total Other Income / (Expense), net	57	44	263	-275	-19	41	37	83	-70	-75	-102
Interest Expense	6.50	56	80	103	130	107	60	-	253	361	456
Other Income / (Expense), net	63	100	343	-172	111	148	96	83	184	287	354
Income Tax Expense	694	741	829	398	713	716	763	855	1,026	1,120	1,230
Basic Earnings per Share	$3.07	$3.27	$3.99	$4.28	$5.27	$5.73	$6.10	$7.04	$8.25	$9.14	$10.02
Weighted Average Basic Shares Outstanding	472.60M	457M	447.80M	440.60M	435M	430.80M	426.30M	418.80M	413.70M	410.60M	407.10M
Diluted Earnings per Share	$3.05	$3.25	$3.97	$4.25	$5.24	$5.70	$6.07	$7.00	$8.21	$9.10	$9.98
Weighted Average Diluted Shares Outstanding	475.80M	459.10M	450.30M	443.30M	437.60M	432.70M	428.10M	421.10M	415.70M	412.20M	408.70M
Weighted Average Basic & Diluted Shares Outstanding	473.10M	456.40M	447.90M	440.40M	435.10M	429.97M	423.08M	415.52M	411.99M	407.80M	405.04M

This table shows Automatic Data Processing's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	859	878	1,185	829	956	963	1,250	911	1,013	1,062	1,360
Consolidated Net Income / (Loss)	859	878	1,185	829	956	963	1,250	911	1,013	1,062	1,360
Net Income / (Loss) Continuing Operations	859	878	1,185	829	956	963	1,250	911	1,013	1,062	1,360
Total Pre-Tax Income	1,093	1,144	1,546	1,089	1,236	1,261	1,622	1,191	1,308	1,383	1,782
Total Operating Income	1,117	1,184	1,545	740	1,272	1,300	1,633	1,207	1,333	1,402	1,786
Total Gross Profit	2,234	2,335	2,728	2,385	2,432	2,545	2,896	2,579	2,590	2,727	3,121
Total Revenue	4,512	4,668	5,254	4,768	4,833	5,048	5,553	5,127	5,175	5,359	5,939
Operating Revenue	4,512	4,668	5,254	4,768	4,833	5,048	5,553	5,127	5,175	5,359	5,939
Total Cost of Revenue	2,515	2,562	2,768	2,632	2,634	2,743	2,904	2,817	2,836	2,890	3,072
Operating Cost of Revenue	2,279	2,333	2,526	2,384	2,401	2,503	2,657	2,548	2,585	2,632	2,818
Total Operating Expenses	1,117	1,151	1,184	1,644	1,159	1,246	1,263	1,373	1,258	1,326	1,336
Selling, General & Admin Expense	880	923	941	1,035	927	1,006	1,016	1,103	1,006	1,068	1,082
Research & Development Expense	237	229	243	248	233	240	247	269	251	258	254
Total Other Income / (Expense), net	-24	-40	1.60	349	-36	-39	-11	-16	-25	-18	-3.70
Interest Expense	92	105	63	-	138	130	75	114	135	124	79
Other Income / (Expense), net	68	65	64	90	102	91	64	98	110	106	75
Income Tax Expense	233	265	361	260	280	298	372	280	295	321	422
Basic Earnings per Share	$2.09	$2.14	$2.89	$2.02	$2.34	$2.36	$3.07	$2.25	$2.50	$2.63	$3.39
Weighted Average Basic Shares Outstanding	411.70M	411.10M	410.50M	410.60M	407.90M	407.60M	406.90M	407.10M	405.10M	403.80M	401.70M
Diluted Earnings per Share	$2.08	$2.13	$2.88	$2.01	$2.34	$2.35	$3.06	$2.23	$2.49	$2.62	$3.38
Weighted Average Diluted Shares Outstanding	413.60M	412.50M	412.10M	412.20M	409.50M	409M	408.50M	408.70M	406.50M	404.70M	402.50M
Weighted Average Basic & Diluted Shares Outstanding	411.30M	410.79M	409.29M	407.80M	407.46M	406.87M	405.92M	405.04M	404.45M	402.64M	399.73M
Cash Dividends to Common per Share	$1.25	$1.40	$1.40	$1.40	-	$1.54	$1.54	-	-	$1.70	$1.70

This table details how cash moves in and out of Automatic Data Processing's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Change in Cash & Equivalents	166	9,772	-7,277	-1,645	283	257	6,090	9,640	-14,012	1,337	-5,031
Net Cash From Operating Activities	1,974	1,897	2,126	2,515	2,688	3,026	3,093	3,100	4,208	4,158	4,940
Net Cash From Continuing Operating Activities	1,829	1,897	2,126	2,515	2,688	3,026	3,093	3,100	4,208	4,158	4,940
Net Income / (Loss) Continuing Operations	1,453	1,493	1,788	1,885	2,293	2,467	2,599	2,949	3,412	3,752	4,080
Consolidated Net Income / (Loss)	1,453	1,493	1,788	1,885	2,293	2,467	2,599	2,949	3,412	3,752	4,080
Depreciation Expense	278	289	316	378	409	480	511	515	549	562	582
Amortization Expense	100	94	874	909	924	965	1,005	1,056	1,016	1,025	1,073
Non-Cash Adjustments To Reconcile Net Income	163	150	79	207	204	220	221	-867	292	296	333
Changes in Operating Assets and Liabilities, net	-164	-128	-931	-863	-1,141	-1,106	-1,241	-554	-1,061	-1,478	-1,128
Net Cash From Investing Activities	-3,760	-869	-1,113	-2,505	-2,198	3,156	-3,515	-7,014	-2,517	-1,389	-3,035
Net Cash From Continuing Investing Activities	-5,360	-869	-1,113	-2,505	-2,198	3,156	-3,515	-7,014	-2,517	-1,389	-3,035
Purchase of Property, Plant & Equipment	-159	-169	-240	-206	-162	-173	-179	-174	-206	-208	-169
Acquisitions	-177	-218	-318	-877	-530	-444	-327	-391	-398	-389	-1,543
Purchase of Investments	-5,048	-5,876	-4,383	-4,877	-4,423	-3,905	-9,266	-10,733	-6,619	-6,835	-7,858
Sale of Property, Plant & Equipment	24	16	0.00	0.40	7.90	29	19	34	0.00	28	11
Sale and/or Maturity of Investments	-	5,215	3,594	3,455	2,909	7,648	6,238	4,250	4,706	6,040	6,539
Other Investing Activities, net	-	-	-	-	-	-	-	0.00	0.00	-25	-15
Net Cash From Financing Activities	1,548	8,753	-8,282	-1,656	-208	-5,891	6,438	13,653	-15,681	-1,432	-6,973
Net Cash From Continuing Financing Activities	3,696	8,753	-8,282	-1,656	-208	-5,891	6,438	13,653	-15,636	-1,432	-6,973
Repayment of Debt	-2.30	-25	-2.00	-13	-7.90	-2.20	-1,002	-0.90	-1.00	-0.90	-1,001
Repurchase of Common Equity	-1,557	-1,156	-1,260	-989	-938	-1,006	-1,372	-1,969	-1,121	-1,232	-1,612
Payment of Dividends	-928	-944	-995	-1,064	-1,293	-1,471	-1,576	-1,659	-1,904	-2,183	-2,399
Issuance of Debt	-	1,998	-	-	0.00	0.00	1,982	-	0.00	0.00	6,750
Other Financing Activities, net	6,184	8,879	-6,025	410	1,769	-3,163	8,396	17,154	-12,610	1,664	-8,711
Cash Interest Paid	-	38	78	101	128	105	53	75	247	354	427
Cash Income Taxes Paid	773	652	817	530	634	677	974	857	1,081	1,185	1,198

This table details how cash moves in and out of Automatic Data Processing's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-1,810	6,917	6,246	-10,039	-7,295	13,813	-8,405	-3,145	-1,063	29,670	-21,064
Net Cash From Operating Activities	327	1,032	1,498	1,301	824	1,150	1,526	1,439	642	1,133	2,238
Net Cash From Continuing Operating Activities	327	1,032	1,498	1,301	824	1,150	1,526	1,439	642	1,133	2,238
Net Income / (Loss) Continuing Operations	859	878	1,185	829	956	963	1,250	911	1,013	1,062	1,360
Consolidated Net Income / (Loss)	859	878	1,185	829	956	963	1,250	911	1,013	1,062	1,360
Depreciation Expense	142	140	145	136	139	151	147	146	147	146	146
Amortization Expense	257	253	257	259	266	269	268	271	276	277	279
Non-Cash Adjustments To Reconcile Net Income	-200	350	605	92	73	95	86	79	72	87	64
Changes in Operating Assets and Liabilities, net	-731	-588	-693	-16	-609	-327	-225	33	-865	-439	389
Net Cash From Investing Activities	-216	138	-1,094	-217	-1,644	-1,258	-556	423	-1,863	-677	-1,216
Net Cash From Continuing Investing Activities	-216	138	-1,094	-217	-1,644	-1,258	-556	423	-1,863	-654	-1,239
Purchase of Property, Plant & Equipment	-39	-55	-60	-55	-59	-39	-36	-34	-47	-27	-51
Acquisitions	-121	-79	-98	-92	-81	-1,255	-106	-102	-94	-116	-166
Purchase of Investments	-710	-595	-3,060	-2,470	-2,772	-1,219	-1,666	-2,202	-3,605	-2,047	-3,950
Sale and/or Maturity of Investments	632	871	2,121	2,415	1,267	1,257	1,259	2,756	1,896	1,540	2,933
Other Investing Activities, net	0.00	-8.50	-	-16	-3.10	-1.40	-7.00	-3.40	-14	-4.70	-5.10
Net Cash From Financing Activities	-1,904	5,720	5,868	-11,116	-6,492	13,974	-9,399	-5,057	164	29,179	-22,043
Net Cash From Continuing Financing Activities	-1,904	5,720	5,868	-11,116	-6,504	13,974	-9,399	-5,057	164	29,200	-22,065
Repayment of Debt	-0.20	-0.30	-0.20	-0.20	-0.30	-0.30	-0.30	-1,000	-0.30	-0.20	-0.30
Repurchase of Common Equity	-250	-255	-292	-436	-373	-272	-312	-656	-151	-731	-610
Payment of Dividends	-516	-516	-576	-575	-573	-573	-628	-626	-627	-629	-687
Other Financing Activities, net	-1,138	6,491	6,684	-10,425	-11,219	19,492	-8,113	-8,882	504	35,768	-20,768
Other Net Changes in Cash	-16	-	-	-	17	-	-	-	-	-	-43
Cash Interest Paid	97	96	68	93	141	109	90	87	130	124	75
Cash Income Taxes Paid	88	503	216	379	65	519	253	361	74	230	158

This table presents Automatic Data Processing's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	33,111	43,670	37,180	38,849	41,888	39,166	48,773	63,068	50,971	54,363	53,369
Total Current Assets	28,809	39,500	32,659	31,823	34,342	31,564	40,742	54,805	42,171	45,543	43,252
Cash & Equivalents	1,639	3,191	2,780	2,170	1,949	1,909	2,575	1,436	2,084	2,913	3,348
Short-Term Investments	27	-	-	0.00	11	-	-	-	-	384	4,499
Accounts Receivable	1,547	1,743	1,704	1,984	2,439	2,441	2,727	3,171	3,010	3,428	3,579
Other Current Assets	25,596	34,567	28,175	27,669	29,943	27,214	35,439	50,198	37,078	38,817	31,827
Plant, Property, & Equipment, net	673	685	780	794	764	704	685	653	681	686	655
Total Noncurrent Assets	3,629	3,485	3,741	6,232	6,781	6,898	7,346	7,611	8,119	8,135	9,462
Goodwill	1,794	1,682	1,741	2,244	2,323	2,309	2,338	2,301	2,339	2,354	3,274
Intangible Assets	503	534	620	886	1,072	1,216	1,210	1,333	1,344	1,336	1,603
Other Noncurrent Operating Assets	1,271	1,241	1,352	3,077	3,363	3,354	3,786	3,968	4,428	4,438	4,585
Total Liabilities & Shareholders' Equity	33,101	43,670	37,180	38,849	41,888	39,166	48,773	63,068	50,971	54,363	53,369
Total Liabilities	28,293	39,188	33,203	34,113	36,488	33,413	43,102	59,843	47,462	49,815	47,181
Total Current Liabilities	27,114	35,847	29,816	30,413	32,628	30,127	38,095	55,159	42,768	45,080	41,278
Short-Term Debt	-	-	-	-	0.00	1,002	-	-	-	0.00	4,770
Accounts Payable	195	152	150	135	126	102	141	110	97	101	169
Accrued Expenses	1,159	1,247	1,382	1,548	1,759	1,981	1,963	2,108	2,343	3,350	3,092
Dividends Payable	226	238	251	299	340	387	391	430	510	566	621
Current Deferred Revenue	229	233	233	226	221	213	204	188	189	200	263
Current Deferred & Payable Income Tax Liabilities	27	28	49	44	55	40	58	38	44	15	9.10
Current Employee Benefit Liabilities	627	617	563	668	721	557	910	863	941	959	973
Other Current Liabilities	24,651	33,332	27,189	27,494	29,145	25,832	34,404	51,286	38,539	39,504	31,343
Other Current Nonoperating Liabilities	-	-	-	0.00	262	14	24	136	105	385	38
Total Noncurrent Liabilities	1,179	3,341	3,387	3,701	3,860	3,287	5,008	4,684	4,694	4,735	5,903
Long-Term Debt	-	2,008	2,002	2,002	2,002	1,003	2,985	2,987	2,989	2,991	3,975
Noncurrent Deferred Revenue	363	381	391	448	399	371	362	335	348	360	385
Noncurrent Deferred & Payable Income Tax Liabilities	172	251	163	522	660	732	483	67	74	64	164
Other Noncurrent Operating Liabilities	644	701	830	728	799	1,181	1,177	1,295	1,284	1,319	1,380
Commitments & Contingencies	-	-	-	-	-	-	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,809	4,482	3,977	4,736	5,400	5,752	5,670	3,225	3,509	4,548	6,188
Total Preferred & Common Equity	4,809	4,482	3,977	4,736	5,400	5,752	5,670	3,225	3,509	4,548	6,188
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	4,809	4,482	3,977	4,736	5,400	5,752	5,670	3,225	3,509	4,548	6,188
Common Stock	727	832	932	1,079	1,247	1,398	1,595	1,858	2,166	2,471	2,852
Retained Earnings	13,460	14,003	14,728	16,547	17,501	18,436	19,451	20,696	22,118	23,622	25,241
Treasury Stock	-9,118	-10,139	-11,304	-12,210	-13,091	-14,067	-15,387	-17,335	-18,469	-19,737	-21,021
Accumulated Other Comprehensive Income / (Loss)	-261	-215	-379	-680	-257	-15	11	-1,994	-2,306	-1,808	-883

This table presents Automatic Data Processing's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Total Assets	50,971	49,324	57,069	64,182	54,363	49,511	64,097	56,449	54,321	84,639	64,484
Total Current Assets	42,171	40,480	48,543	55,640	45,543	39,911	54,254	46,537	44,203	74,472	54,234
Cash & Equivalents	2,084	1,441	1,641	3,292	2,913	2,105	2,216	2,681	2,478	2,425	3,228
Short-Term Investments	-	-	-	-	-	5,242	-	-	5,466	46	0.00
Accounts Receivable	3,010	3,095	3,372	3,461	3,428	3,317	3,504	3,548	3,464	3,409	3,569
Other Current Assets	37,078	35,944	43,530	48,887	39,201	29,247	48,535	40,308	32,795	68,593	47,437
Plant, Property, & Equipment, net	681	660	671	677	686	693	682	670	647	623	623
Total Noncurrent Assets	8,119	8,183	7,855	7,866	8,135	8,908	9,160	9,241	9,472	9,545	9,627
Goodwill	2,339	2,353	2,370	2,355	2,354	2,369	3,184	3,300	3,275	3,294	3,289
Intangible Assets	1,344	1,332	1,315	1,295	1,336	1,330	1,739	1,604	1,598	1,623	1,641
Other Noncurrent Operating Assets	4,428	4,491	4,163	4,208	4,438	4,261	4,231	4,332	4,598	4,628	4,698
Total Liabilities & Shareholders' Equity	50,971	49,324	57,069	64,182	54,363	49,511	64,097	56,449	54,321	84,639	64,484
Total Liabilities	47,462	45,851	52,750	59,555	49,815	44,163	59,019	50,593	47,947	78,246	58,134
Total Current Liabilities	42,768	41,229	48,098	54,902	45,080	39,372	54,303	45,845	41,932	72,142	52,020
Short-Term Debt	-	-	-	-	1.10	5,376	1,001	1,001	5,208	0.00	0.00
Accounts Payable	97	67	77	85	101	145	186	146	129	143	136
Accrued Expenses	2,343	2,292	2,635	3,715	3,349	2,974	3,089	2,977	2,907	2,478	3,013
Dividends Payable	510	510	570	569	566	566	622	621	619	681	677
Current Deferred Revenue	189	183	188	189	200	189	237	241	258	262	269
Current Deferred & Payable Income Tax Liabilities	44	180	1.10	110	15	170	4.40	64	117	197	372
Current Employee Benefit Liabilities	941	554	603	722	959	553	683	732	602	721	778
Other Current Liabilities	38,539	37,099	44,002	49,512	39,504	28,721	48,482	40,063	31,846	67,614	46,775
Other Current Nonoperating Liabilities	105	344	22	0.00	385	679	0.00	0.00	247	46	0.00
Total Noncurrent Liabilities	4,694	4,622	4,652	4,653	4,735	4,790	4,716	4,748	6,015	6,105	6,114
Long-Term Debt	2,989	2,990	2,990	2,991	2,991	2,981	2,982	2,983	3,976	3,976	3,977
Noncurrent Deferred Revenue	348	337	348	353	360	362	343	362	384	380	385
Noncurrent Deferred & Payable Income Tax Liabilities	74	68	68	64	64	154	91	129	272	350	345
Other Noncurrent Operating Liabilities	1,284	1,227	1,246	1,245	1,319	1,293	1,300	1,274	1,383	1,399	1,407
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,509	3,473	4,320	4,627	4,548	5,349	5,078	5,855	6,374	6,393	6,350
Total Preferred & Common Equity	3,509	3,473	4,320	4,627	4,548	5,349	5,078	5,855	6,374	6,393	6,350
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,509	3,473	4,320	4,627	4,548	5,349	5,078	5,855	6,374	6,393	6,350
Common Stock	2,166	2,253	2,327	2,418	2,471	2,593	2,684	2,785	2,932	3,001	3,077
Retained Earnings	22,118	22,455	22,757	23,366	23,622	24,001	24,336	24,957	25,622	25,993	26,668
Treasury Stock	-18,469	-18,767	-19,019	-19,305	-19,737	-20,145	-20,412	-20,700	-21,450	-21,961	-22,542
Accumulated Other Comprehensive Income / (Loss)	-2,306	-2,468	-1,745	-1,852	-1,808	-1,100	-1,529	-1,186	-731	-640	-853

This table displays calculated financial ratios and metrics derived from Automatic Data Processing's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.96%	6.67%	6.04%	7.29%	6.30%	3.40%	2.85%	9.95%	9.18%	6.61%	7.07%
EBITDA Growth	9.31%	8.89%	45.38%	-5.53%	21.70%	5.96%	4.26%	8.89%	11.67%	7.60%	8.81%
EBIT Growth	10.18%	10.29%	17.72%	-11.55%	31.45%	4.92%	3.99%	11.20%	16.65%	9.80%	10.17%
NOPAT Growth	11.55%	9.34%	9.85%	31.33%	9.25%	5.53%	5.56%	12.24%	13.39%	7.96%	9.15%
Net Income Growth	-4.18%	2.75%	19.79%	5.43%	21.64%	7.58%	5.35%	13.48%	15.70%	9.96%	8.73%
EPS Growth	-2.87%	6.56%	22.15%	7.05%	23.29%	8.78%	6.49%	15.32%	17.29%	10.84%	9.67%
Operating Cash Flow Growth	8.38%	-3.89%	12.05%	18.31%	6.88%	12.57%	2.22%	0.20%	35.75%	-1.19%	18.81%
Free Cash Flow Firm Growth	-29.22%	-18.80%	32.79%	-59.05%	62.77%	97.38%	4.26%	73.61%	-11.24%	-16.72%	-55.94%
Invested Capital Growth	-6.51%	5.59%	-2.46%	41.10%	24.19%	3.39%	3.92%	-17.74%	-5.84%	10.88%	49.13%
Revenue Q/Q Growth	1.38%	1.78%	1.30%	1.57%	1.56%	-0.70%	2.46%	2.42%	1.98%	1.54%	1.77%
EBITDA Q/Q Growth	5.57%	6.33%	27.78%	-17.42%	9.66%	-2.03%	3.95%	0.91%	1.82%	-0.41%	7.16%
EBIT Q/Q Growth	1.42%	2.78%	1.95%	-8.21%	13.93%	-3.52%	5.15%	0.89%	2.57%	-0.59%	8.96%
NOPAT Q/Q Growth	1.90%	2.53%	-0.28%	6.27%	4.41%	-1.88%	4.55%	1.67%	0.73%	-1.22%	9.53%
Net Income Q/Q Growth	3.38%	-3.50%	2.19%	-8.69%	17.09%	-2.53%	5.12%	3.05%	4.64%	1.42%	2.04%
EPS Q/Q Growth	2.01%	-4.41%	1.28%	-8.60%	17.23%	-2.23%	5.20%	3.40%	4.99%	1.45%	2.25%
Operating Cash Flow Q/Q Growth	-4.58%	8.78%	-8.82%	10.94%	1.02%	1.49%	-3.85%	9.16%	6.93%	2.84%	2.89%
Free Cash Flow Firm Q/Q Growth	-45.20%	6.13%	-16.43%	-48.01%	145.37%	7.80%	-5.63%	33.24%	-7.14%	-26.25%	76.14%
Invested Capital Q/Q Growth	-5.70%	-6.36%	2.63%	21.28%	4.90%	1.20%	5.26%	-10.62%	-6.25%	13.95%	-0.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.24%	41.37%	41.44%	41.56%	43.15%	42.12%	42.42%	47.49%	49.43%	50.42%	50.84%
EBITDA Margin	22.45%	22.91%	31.42%	27.66%	31.67%	32.45%	32.90%	32.58%	33.33%	33.64%	36.10%
Operating Margin	18.41%	18.77%	19.02%	19.27%	21.43%	21.53%	22.16%	22.56%	23.62%	23.88%	26.32%
EBIT Margin	18.99%	19.63%	21.80%	17.97%	22.22%	22.55%	22.80%	23.06%	24.64%	25.37%	28.04%
Profit (Net Income) Margin	13.28%	12.79%	14.45%	14.20%	16.25%	16.91%	17.32%	17.87%	18.94%	19.54%	19.84%
Tax Burden Percent	70.15%	66.79%	68.32%	82.58%	76.28%	77.50%	77.31%	77.52%	76.89%	77.01%	76.83%
Interest Burden Percent	99.69%	97.55%	97.03%	95.69%	95.86%	96.74%	98.25%	100.00%	100.00%	100.00%	92.09%
Effective Tax Rate	33.52%	33.17%	31.68%	17.42%	23.72%	22.50%	22.69%	22.48%	23.11%	22.99%	23.17%
Return on Invested Capital (ROIC)	38.63%	42.52%	46.03%	50.79%	42.29%	39.61%	40.34%	48.74%	63.07%	66.58%	64.27%
ROIC Less NNEP Spread (ROIC-NNEP)	33.63%	40.14%	21.61%	165.33%	38.59%	45.16%	44.62%	53.11%	70.83%	83.89%	57.17%
Return on Net Nonoperating Assets (RNNOA)	-13.32%	-10.39%	-3.76%	-7.52%	2.95%	4.62%	5.16%	17.56%	38.26%	26.56%	11.73%
Return on Equity (ROE)	25.31%	32.13%	42.27%	43.27%	45.24%	44.23%	45.50%	66.30%	101.33%	93.14%	76.00%
Cash Return on Invested Capital (CROIC)	45.36%	37.08%	48.53%	16.69%	20.71%	36.28%	36.49%	68.21%	69.09%	56.26%	24.84%
Operating Return on Assets (OROA)	6.37%	5.97%	6.67%	6.27%	7.77%	8.12%	7.78%	6.80%	7.78%	9.25%	10.70%
Return on Assets (ROA)	4.46%	3.89%	4.42%	4.96%	5.68%	6.09%	5.91%	5.27%	5.98%	7.12%	7.57%
Return on Common Equity (ROCE)	25.31%	32.13%	42.27%	43.27%	45.24%	44.23%	45.50%	66.30%	101.33%	93.14%	76.00%
Return on Equity Simple (ROE_SIMPLE)	30.21%	33.30%	44.95%	39.80%	42.46%	42.88%	45.83%	91.43%	97.23%	82.51%	0.00%
Net Operating Profit after Tax (NOPAT)	1,339	1,464	1,608	2,112	2,307	2,435	2,570	2,885	3,271	3,531	4,158
NOPAT Margin	12.24%	12.55%	13.00%	15.91%	16.35%	16.69%	17.13%	17.48%	18.16%	18.39%	20.22%
Net Nonoperating Expense Percent (NNEP)	5.00%	2.38%	24.42%	-114.55%	3.70%	-5.55%	-4.28%	-4.37%	-7.76%	-17.31%	7.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	27.85%
Cost of Revenue to Revenue	58.76%	58.63%	58.56%	58.44%	56.85%	57.88%	57.58%	57.35%	55.26%	54.56%	53.97%
SG&A Expenses to Revenue	22.83%	22.60%	22.42%	22.29%	21.72%	20.58%	20.26%	19.60%	19.72%	19.68%	19.71%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.84%	4.69%	4.98%	4.81%
Operating Expenses to Revenue	22.83%	22.60%	22.42%	22.29%	21.72%	20.58%	20.26%	24.93%	25.81%	26.54%	24.51%
Earnings before Interest and Taxes (EBIT)	2,077	2,291	2,697	2,385	3,136	3,290	3,421	3,804	4,438	4,872	5,766
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,455	2,674	3,887	3,672	4,469	4,735	4,936	5,375	6,003	6,459	7,422
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.44	7.87	9.94	11.00	11.98	10.23	14.01	26.06	25.30	21.48	20.23
Price to Tangible Book Value (P/TBV)	12.33	15.57	24.47	32.42	32.27	26.43	37.45	0.00	0.00	113.86	95.45
Price to Revenue (P/Rev)	2.83	3.02	3.20	3.92	4.59	4.03	5.29	5.09	4.93	5.09	6.09
Price to Earnings (P/E)	21.33	23.64	22.12	27.63	28.23	23.86	30.58	28.50	26.02	26.04	30.69
Dividend Yield	2.87%	2.69%	2.53%	2.13%	2.06%	2.57%	1.98%	2.01%	2.23%	2.28%	1.95%
Earnings Yield	4.69%	4.23%	4.52%	3.62%	3.54%	4.19%	3.27%	3.51%	3.84%	3.84%	3.26%
Enterprise Value to Invested Capital (EV/IC)	8.74	9.64	11.24	10.66	10.71	9.43	12.30	16.02	17.83	17.53	16.28
Enterprise Value to Revenue (EV/Rev)	2.68	2.92	3.13	3.91	4.59	4.04	5.32	5.19	4.98	5.09	6.13
Enterprise Value to EBITDA (EV/EBITDA)	11.93	12.75	9.97	14.14	14.49	12.45	16.18	15.92	14.94	15.14	16.99
Enterprise Value to EBIT (EV/EBIT)	14.10	14.88	14.38	21.76	20.65	17.92	23.34	22.50	20.21	20.07	21.87
Enterprise Value to NOPAT (EV/NOPAT)	21.87	23.29	24.11	24.58	28.07	24.21	31.07	29.67	27.42	27.69	30.32
Enterprise Value to Operating Cash Flow (EV/OCF)	14.84	17.97	18.24	20.64	24.09	19.48	25.82	27.61	21.31	23.52	25.52
Enterprise Value to Free Cash Flow (EV/FCFF)	18.63	26.71	22.87	74.78	57.32	26.43	34.34	21.20	25.03	32.77	78.48
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.45	0.50	0.42	0.37	0.35	0.53	0.93	0.85	0.66	1.41
Long-Term Debt to Equity	0.00	0.45	0.50	0.42	0.37	0.17	0.53	0.93	0.85	0.66	0.64
Financial Leverage	-0.40	-0.26	-0.17	-0.05	0.08	0.10	0.12	0.33	0.54	0.32	0.21
Leverage Ratio	5.68	8.26	9.56	8.73	7.97	7.27	7.70	12.57	16.93	13.07	10.04
Compound Leverage Factor	5.66	8.06	9.27	8.35	7.64	7.03	7.56	12.57	16.93	13.07	9.24
Debt to Total Capital	0.00%	30.94%	33.49%	29.72%	27.05%	25.84%	34.49%	48.08%	46.00%	39.68%	58.56%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	12.92%	0.00%	0.00%	0.00%	0.00%	31.94%
Long-Term Debt to Total Capital	0.00%	30.94%	33.49%	29.72%	27.05%	12.93%	34.49%	48.08%	46.00%	39.68%	26.62%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	69.06%	66.51%	70.28%	72.95%	74.16%	65.51%	51.92%	54.00%	60.32%	41.44%
Debt to EBITDA	0.00	0.75	0.52	0.55	0.45	0.42	0.60	0.56	0.50	0.46	1.18
Net Debt to EBITDA	0.00	-0.44	-0.20	-0.05	0.01	0.02	0.08	0.29	0.15	0.01	0.12
Long-Term Debt to EBITDA	0.00	0.75	0.52	0.55	0.45	0.21	0.60	0.56	0.50	0.46	0.54
Debt to NOPAT	0.00	1.37	1.25	0.95	0.87	0.82	1.16	1.04	0.91	0.85	2.10
Net Debt to NOPAT	0.00	-0.81	-0.48	-0.08	0.02	0.04	0.16	0.54	0.28	0.02	0.22
Long-Term Debt to NOPAT	0.00	1.37	1.25	0.95	0.87	0.41	1.16	1.04	0.91	0.85	0.96
Altman Z-Score	1.83	1.53	1.93	2.10	2.28	2.41	2.27	1.76	2.36	2.44	3.04
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.06	1.10	1.10	1.05	1.05	1.05	1.07	0.99	0.99	1.01	1.05
Quick Ratio	0.12	0.14	0.15	0.14	0.13	0.14	0.14	0.08	0.12	0.14	0.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,572	1,277	1,695	694	1,130	2,230	2,325	4,037	3,583	2,984	1,607
Operating Cash Flow to CapEx	1,460.06%	1,241.69%	885.05%	1,222.75%	1,744.52%	2,111.79%	1,935.73%	2,210.77%	2,039.55%	2,308.50%	3,128.37%
Free Cash Flow to Firm to Interest Expense	241.86	22.71	21.19	6.76	8.70	20.82	38.95	0.00	0.00	0.00	3.52
Operating Cash Flow to Interest Expense	303.69	33.76	26.57	24.49	20.70	28.26	51.81	0.00	0.00	0.00	10.84
Operating Cash Flow Less CapEx to Interest Expense	282.89	31.04	23.57	22.49	19.51	26.92	49.14	0.00	0.00	0.00	10.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.30	0.31	0.35	0.35	0.36	0.34	0.30	0.32	0.36	0.38
Accounts Receivable Turnover	7.18	7.09	7.18	7.20	6.38	5.98	5.81	5.59	5.83	5.97	5.87
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	16.33	17.19	16.89	16.87	18.11	19.88	21.62	24.68	27.00	28.09	30.67
Accounts Payable Turnover	37.09	39.45	47.98	54.42	61.49	74.24	71.08	75.30	96.17	106.15	82.29
Days Sales Outstanding (DSO)	50.82	51.46	50.84	50.70	57.21	61.05	62.86	65.24	62.62	61.18	62.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	9.84	9.25	7.61	6.71	5.94	4.92	5.13	4.85	3.80	3.44	4.44
Cash Conversion Cycle (CCC)	40.97	42.20	43.23	43.99	51.28	56.13	57.73	60.40	58.82	57.75	57.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,349	3,537	3,450	4,867	6,045	6,249	6,494	5,342	5,030	5,577	7,745
Invested Capital Turnover	3.16	3.39	3.54	3.19	2.59	2.37	2.36	2.79	3.47	3.62	3.18
Increase / (Decrease) in Invested Capital	-233	187	-87	1,418	1,177	205	245	-1,152	-312	547	2,551
Enterprise Value (EV)	29,285	34,098	38,768	51,907	64,758	58,949	79,859	85,591	89,682	97,772	126,084
Market Capitalization	30,980	35,282	39,546	52,074	64,716	58,853	79,449	84,040	88,776	97,694	125,187
Book Value per Share	$10.24	$9.84	$8.89	$10.75	$12.41	$13.38	$13.33	$7.72	$8.49	$11.11	$15.24
Tangible Book Value per Share	$5.35	$4.97	$3.61	$3.65	$4.61	$5.18	$4.99	($0.98)	($0.42)	$2.10	$3.23
Total Capital	4,809	6,489	5,979	6,738	7,402	7,757	8,655	6,212	6,498	7,539	14,932
Total Debt	0.00	2,008	2,002	2,002	2,002	2,005	2,985	2,987	2,989	2,991	8,744
Total Long-Term Debt	0.00	2,008	2,002	2,002	2,002	1,003	2,985	2,987	2,989	2,991	3,975
Net Debt	-1,695	-1,183	-778	-168	43	96	410	1,551	906	78	898
Capital Expenditures (CapEx)	135	153	240	206	154	143	160	140	206	180	158
Debt-free, Cash-free Net Working Capital (DFCFNWC)	30	462	62	-759	-245	531	72	-1,790	-2,681	-2,451	-1,103
Debt-free Net Working Capital (DFNWC)	1,696	3,653	2,843	1,411	1,715	2,439	2,647	-354	-597	463	6,743
Net Working Capital (NWC)	1,696	3,653	2,843	1,411	1,715	1,438	2,647	-354	-597	463	1,974
Net Nonoperating Expense (NNE)	-114	-29	-180	227	14	-32	-28	-64	-141	-221	78
Net Nonoperating Obligations (NNO)	-1,459	-945	-528	131	645	497	824	2,117	1,521	1,030	1,557
Total Depreciation and Amortization (D&A)	378	383	1,190	1,287	1,333	1,445	1,516	1,571	1,565	1,587	1,656
Debt-free, Cash-free Net Working Capital to Revenue	0.27%	3.96%	0.50%	-5.72%	-1.74%	3.64%	0.48%	-10.85%	-14.88%	-12.76%	-5.37%
Debt-free Net Working Capital to Revenue	15.50%	31.31%	22.98%	10.63%	12.15%	16.72%	17.64%	-2.14%	-3.31%	2.41%	32.80%
Net Working Capital to Revenue	15.50%	31.31%	22.98%	10.63%	12.15%	9.85%	17.64%	-2.14%	-3.31%	2.41%	9.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.07	$3.27	$3.87	$3.68	$5.27	$5.73	$6.10	$7.04	$8.25	$9.14	$10.02
Adjusted Weighted Average Basic Shares Outstanding	472.60M	457M	447.80M	440.60M	435M	430.80M	426.30M	418.80M	413.70M	410.60M	407.10M
Adjusted Diluted Earnings per Share	$3.05	$3.25	$3.85	$3.66	$5.24	$5.70	$6.07	$7.00	$8.21	$9.10	$9.98
Adjusted Weighted Average Diluted Shares Outstanding	475.80M	459.10M	450.30M	443.30M	437.60M	432.70M	428.10M	421.10M	415.70M	412.20M	408.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	465.81M	456.18M	444.37M	438.08M	433.94M	429.97M	423.08M	415.52M	411.99M	407.80M	405.04M
Normalized Net Operating Profit after Tax (NOPAT)	1,339	1,464	1,608	2,112	2,307	2,435	2,570	2,885	3,271	3,531	4,158
Normalized NOPAT Margin	12.24%	12.55%	13.00%	15.91%	16.35%	16.69%	17.13%	17.48%	18.16%	18.39%	20.22%
Pre Tax Income Margin	18.93%	19.15%	21.15%	17.20%	21.30%	21.81%	22.40%	23.06%	24.64%	25.37%	25.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	319.57	40.76	33.71	23.23	24.14	30.72	57.30	0.00	0.00	0.00	12.65
NOPAT to Interest Expense	205.97	26.05	20.10	20.56	17.76	22.73	43.05	0.00	0.00	0.00	9.12
EBIT Less CapEx to Interest Expense	298.77	38.04	30.71	21.22	22.95	29.38	54.62	0.00	0.00	0.00	12.30
NOPAT Less CapEx to Interest Expense	185.17	23.33	17.10	18.56	16.57	21.40	40.38	0.00	0.00	0.00	8.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	63.86%	63.22%	55.67%	56.43%	56.39%	59.62%	60.63%	56.26%	55.79%	58.19%	58.80%
Augmented Payout Ratio	171.07%	140.66%	126.12%	108.92%	97.29%	100.42%	113.44%	123.04%	88.66%	91.01%	98.32%

This table displays calculated financial ratios and metrics derived from Automatic Data Processing's official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	402,644,364.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	402,644,364.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3.38
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.04%	6.31%	6.62%	6.49%	7.10%	8.15%	5.69%	7.52%	7.09%	6.16%	6.95%
EBITDA Growth	8.72%	9.09%	12.25%	-2.13%	12.37%	10.31%	5.04%	8.48%	4.90%	6.57%	8.26%
EBIT Growth	11.61%	11.98%	14.74%	-3.35%	16.01%	11.39%	5.45%	9.47%	5.01%	8.37%	9.65%
NOPAT Growth	11.44%	9.09%	13.31%	-6.69%	12.07%	9.17%	6.28%	10.06%	4.92%	8.41%	8.31%
Net Income Growth	10.32%	8.03%	13.59%	6.76%	11.28%	9.65%	5.45%	9.82%	5.93%	10.26%	8.83%
EPS Growth	11.23%	9.23%	14.74%	6.91%	12.50%	10.33%	6.25%	10.95%	6.41%	11.49%	10.46%
Operating Cash Flow Growth	-54.53%	14.75%	6.69%	9.69%	152.50%	11.42%	1.85%	10.66%	-22.09%	-1.51%	46.68%
Free Cash Flow Firm Growth	-101.46%	-108.54%	-0.08%	-98.23%	546.71%	-3.49%	-198.26%	-341.10%	-499.74%	60.90%	183.98%
Invested Capital Growth	18.62%	21.68%	-8.78%	10.88%	13.41%	19.27%	58.92%	49.13%	27.26%	15.53%	-0.04%
Revenue Q/Q Growth	0.77%	3.45%	12.55%	-9.24%	1.35%	4.46%	10.00%	-7.68%	0.94%	3.56%	10.82%
EBITDA Q/Q Growth	26.44%	3.70%	22.47%	-39.05%	45.17%	1.80%	16.63%	-18.49%	8.41%	3.42%	18.48%
EBIT Q/Q Growth	37.88%	5.43%	28.85%	-48.40%	65.50%	1.23%	21.99%	-23.12%	10.62%	4.46%	23.43%
NOPAT Q/Q Growth	45.40%	3.53%	30.19%	-52.39%	74.65%	0.85%	26.74%	-26.63%	11.87%	4.21%	26.63%
Net Income Q/Q Growth	10.63%	2.21%	34.89%	-30.01%	15.31%	0.72%	29.72%	-27.11%	11.23%	4.84%	28.04%
EPS Q/Q Growth	10.64%	2.40%	35.21%	-30.21%	16.42%	0.43%	30.21%	-27.12%	11.66%	5.22%	29.01%
Operating Cash Flow Q/Q Growth	-72.46%	216.20%	45.11%	-13.18%	-36.61%	39.53%	32.64%	-5.68%	-55.37%	76.38%	97.55%
Free Cash Flow Firm Q/Q Growth	-104.79%	-369.67%	902.44%	-99.02%	1,106.97%	-208.81%	-661.93%	-0.14%	51.85%	89.36%	1,736.23%
Invested Capital Q/Q Growth	16.80%	6.55%	-21.81%	13.95%	19.47%	12.05%	4.19%	-0.44%	9.49%	1.72%	-9.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.50%	50.02%	51.93%	50.01%	50.32%	50.42%	52.15%	50.31%	50.05%	50.89%	52.55%
EBITDA Margin	35.07%	35.16%	38.26%	25.69%	36.80%	35.86%	38.02%	33.57%	36.05%	36.00%	38.49%
Operating Margin	24.75%	25.36%	29.40%	15.53%	26.33%	25.75%	29.41%	23.54%	25.75%	26.15%	30.06%
EBIT Margin	26.25%	26.75%	30.63%	17.41%	28.43%	27.55%	30.55%	25.44%	27.88%	28.12%	31.33%
Profit (Net Income) Margin	19.05%	18.82%	22.55%	17.39%	19.79%	19.08%	22.50%	17.76%	19.57%	19.82%	22.90%
Tax Burden Percent	78.64%	76.80%	76.63%	76.12%	77.36%	76.37%	77.04%	76.48%	77.48%	76.78%	76.32%
Interest Burden Percent	92.27%	91.60%	96.10%	131.22%	89.97%	90.68%	95.59%	91.28%	90.62%	91.77%	95.77%
Effective Tax Rate	21.36%	23.20%	23.37%	23.88%	22.64%	23.63%	22.96%	23.52%	22.52%	23.22%	23.68%
Return on Invested Capital (ROIC)	65.82%	63.49%	83.06%	42.79%	63.42%	57.02%	72.23%	57.22%	55.09%	52.94%	63.72%
ROIC Less NNEP Spread (ROIC-NNEP)	65.03%	61.98%	83.18%	63.63%	61.92%	55.66%	71.45%	56.10%	53.94%	52.33%	63.55%
Return on Net Nonoperating Assets (RNNOA)	51.37%	34.76%	19.39%	20.14%	26.09%	25.63%	14.94%	11.51%	15.74%	21.08%	17.44%
Return on Equity (ROE)	117.19%	98.25%	102.45%	62.93%	89.51%	82.66%	87.17%	68.73%	70.83%	74.02%	81.16%
Cash Return on Invested Capital (CROIC)	45.03%	40.70%	78.87%	56.26%	45.46%	36.66%	14.39%	24.84%	31.56%	38.91%	56.54%
Operating Return on Assets (OROA)	10.04%	8.92%	9.34%	6.35%	11.23%	9.05%	10.23%	9.71%	11.23%	8.02%	11.19%
Return on Assets (ROA)	7.29%	6.27%	6.88%	6.34%	7.82%	6.27%	7.54%	6.78%	7.88%	5.65%	8.18%
Return on Common Equity (ROCE)	117.19%	98.25%	102.45%	62.93%	89.51%	82.66%	87.17%	68.73%	70.83%	74.02%	81.16%
Return on Equity Simple (ROE_SIMPLE)	100.56%	82.36%	79.96%	0.00%	71.96%	77.46%	68.29%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	878	909	1,184	564	984	993	1,258	923	1,033	1,076	1,363
NOPAT Margin	19.46%	19.48%	22.53%	11.82%	20.37%	19.66%	22.66%	18.00%	19.95%	20.08%	22.94%
Net Nonoperating Expense Percent (NNEP)	0.79%	1.50%	-0.13%	-20.84%	1.50%	1.36%	0.78%	1.12%	1.15%	0.61%	0.17%
Return On Investment Capital (ROIC_SIMPLE)	-	12.44%	-	-	-	10.96%	12.79%	6.18%	6.64%	10.38%	13.19%
Cost of Revenue to Revenue	55.74%	54.88%	52.69%	55.19%	54.50%	54.32%	52.30%	54.94%	54.80%	53.92%	51.72%
SG&A Expenses to Revenue	19.51%	19.76%	17.91%	21.71%	19.18%	19.93%	18.29%	21.52%	19.44%	19.93%	18.21%
R&D to Revenue	5.24%	4.90%	4.62%	5.20%	4.81%	4.74%	4.45%	5.25%	4.85%	4.81%	4.28%
Operating Expenses to Revenue	24.75%	24.66%	22.53%	34.49%	23.99%	24.67%	22.74%	26.77%	24.30%	24.74%	22.49%
Earnings before Interest and Taxes (EBIT)	1,184	1,249	1,609	830	1,374	1,391	1,697	1,304	1,443	1,507	1,861
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,583	1,641	2,010	1,225	1,779	1,811	2,112	1,721	1,866	1,930	2,286
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	27.90	21.71	22.05	21.48	21.10	23.49	21.23	20.23	18.65	16.27	12.88
Price to Tangible Book Value (P/TBV)	0.00	147.73	104.51	113.86	68.42	769.02	130.74	95.45	79.22	70.47	57.60
Price to Revenue (P/Rev)	5.29	5.04	5.39	5.09	5.78	5.99	6.15	6.09	5.69	4.90	3.79
Price to Earnings (P/E)	27.75	26.36	27.57	26.04	29.32	30.32	31.09	30.69	28.74	24.56	18.83
Dividend Yield	2.13%	2.26%	2.13%	2.28%	2.02%	1.96%	1.92%	1.95%	2.10%	2.46%	3.19%
Earnings Yield	3.60%	3.79%	3.63%	3.84%	3.41%	3.30%	3.22%	3.26%	3.48%	4.07%	5.31%
Enterprise Value to Invested Capital (EV/IC)	16.76	15.19	20.78	17.53	16.95	16.21	16.15	16.28	14.17	12.24	10.62
Enterprise Value to Revenue (EV/Rev)	5.38	5.12	5.38	5.09	5.78	6.08	6.22	6.13	5.75	4.98	3.82
Enterprise Value to EBITDA (EV/EBITDA)	16.06	15.18	15.68	15.14	16.97	17.74	18.14	16.99	16.00	13.84	10.58
Enterprise Value to EBIT (EV/EBIT)	21.59	20.26	20.75	20.07	22.31	23.26	23.74	21.87	20.59	17.73	13.50
Enterprise Value to NOPAT (EV/NOPAT)	29.30	27.68	28.45	27.69	31.04	32.52	33.09	30.32	28.56	24.60	18.79
Enterprise Value to Operating Cash Flow (EV/OCF)	25.80	24.09	25.16	23.52	24.25	25.36	26.16	25.52	25.25	22.27	15.14
Enterprise Value to Free Cash Flow (EV/FCFF)	40.38	40.99	25.14	32.77	39.62	48.11	137.72	78.48	50.26	33.72	18.78
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	0.69	0.65	0.66	1.56	0.78	0.68	1.41	1.44	0.62	0.63
Long-Term Debt to Equity	0.86	0.69	0.65	0.66	0.56	0.59	0.51	0.64	0.62	0.62	0.63
Financial Leverage	0.79	0.56	0.23	0.32	0.42	0.46	0.21	0.21	0.29	0.40	0.27
Leverage Ratio	15.82	15.26	14.91	13.07	11.20	12.89	11.51	10.04	8.86	12.97	9.91
Compound Leverage Factor	14.59	13.98	14.33	17.16	10.08	11.69	11.00	9.16	8.03	11.90	9.49
Debt to Total Capital	46.26%	40.91%	39.26%	39.68%	60.98%	43.95%	40.49%	58.56%	59.03%	38.35%	38.51%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	39.22%	11.04%	10.17%	31.94%	33.48%	0.00%	0.00%
Long-Term Debt to Total Capital	46.26%	40.91%	39.26%	39.68%	21.75%	32.91%	30.31%	26.62%	25.55%	38.35%	38.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.74%	59.09%	60.74%	60.32%	39.02%	56.05%	59.51%	41.44%	40.97%	61.65%	61.49%
Debt to EBITDA	0.49	0.48	0.46	0.46	1.26	0.58	0.58	1.18	1.22	0.52	0.51
Net Debt to EBITDA	0.25	0.22	-0.05	0.01	0.01	0.26	0.19	0.12	0.17	0.20	0.10
Long-Term Debt to EBITDA	0.49	0.48	0.46	0.46	0.45	0.44	0.43	0.54	0.53	0.52	0.51
Debt to NOPAT	0.89	0.87	0.84	0.85	2.30	1.07	1.05	2.10	2.18	0.93	0.91
Net Debt to NOPAT	0.46	0.39	-0.08	0.02	0.02	0.47	0.34	0.22	0.29	0.35	0.17
Long-Term Debt to NOPAT	0.89	0.87	0.84	0.85	0.82	0.80	0.79	0.96	0.95	0.93	0.91
Altman Z-Score	2.34	2.03	1.93	2.20	2.71	2.13	2.57	2.76	2.67	1.57	1.89
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.98	1.01	1.01	1.01	1.01	1.00	1.02	1.05	1.05	1.03	1.04
Quick Ratio	0.11	0.10	0.12	0.14	0.27	0.11	0.14	0.28	0.27	0.08	0.13
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-44	-206	1,655	16	196	-213	-1,626	-1,628	-784	-83	1,365
Operating Cash Flow to CapEx	1,887.28%	2,048.41%	2,596.36%	2,377.70%	1,485.41%	2,919.54%	4,191.76%	5,410.53%	1,375.37%	4,275.09%	4,422.92%
Free Cash Flow to Firm to Interest Expense	-0.48	-1.97	26.39	0.00	1.42	-1.65	-21.74	-14.32	-5.79	-0.67	17.35
Operating Cash Flow to Interest Expense	3.56	9.84	23.89	0.00	5.98	8.88	20.40	12.66	4.74	9.13	28.44
Operating Cash Flow Less CapEx to Interest Expense	3.38	9.36	22.97	0.00	5.58	8.57	19.91	12.42	4.40	8.92	27.79
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.33	0.30	0.36	0.40	0.33	0.33	0.38	0.40	0.29	0.36
Accounts Receivable Turnover	6.07	5.69	5.79	5.97	6.09	5.79	5.77	5.87	6.17	6.14	6.07
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	28.05	28.03	28.23	28.09	28.86	29.42	30.00	30.67	31.22	32.51	33.41
Accounts Payable Turnover	134.25	125.68	129.62	106.15	99.67	81.88	94.52	82.29	82.42	69.48	82.26
Days Sales Outstanding (DSO)	60.15	64.17	63.04	61.18	59.94	63.05	63.31	62.20	59.20	59.46	60.13
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	2.72	2.90	2.82	3.44	3.66	4.46	3.86	4.44	4.43	5.25	4.44
Cash Conversion Cycle (CCC)	57.43	61.26	60.23	57.75	56.28	58.59	59.45	57.76	54.77	54.21	55.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,875	6,260	4,895	5,577	6,663	7,466	7,779	7,745	8,480	8,625	7,776
Invested Capital Turnover	3.38	3.26	3.69	3.62	3.11	2.90	3.19	3.18	2.76	2.64	2.78
Increase / (Decrease) in Invested Capital	922	1,115	-471	547	788	1,206	2,884	2,551	1,817	1,160	-2.80
Enterprise Value (EV)	98,450	95,112	101,702	97,772	112,919	121,041	125,614	126,084	120,120	105,542	82,558
Market Capitalization	96,902	93,763	102,003	97,694	112,849	119,275	124,311	125,187	118,880	104,036	81,809
Book Value per Share	$8.43	$10.50	$11.26	$11.11	$13.12	$12.46	$14.39	$15.24	$15.74	$15.81	$15.77
Tangible Book Value per Share	($0.51)	$1.54	$2.38	$2.10	$4.04	$0.38	$2.34	$3.23	$3.70	$3.65	$3.53
Total Capital	6,463	7,310	7,617	7,539	13,706	9,061	9,839	14,932	15,557	10,369	10,327
Total Debt	2,990	2,990	2,991	2,991	8,357	3,983	3,983	8,744	9,184	3,976	3,977
Total Long-Term Debt	2,990	2,990	2,991	2,991	2,981	2,982	2,983	3,975	3,976	3,976	3,977
Net Debt	1,548	1,349	-301	78	69	1,766	1,303	898	1,240	1,506	749
Capital Expenditures (CapEx)	17	50	58	55	56	39	36	27	47	27	51
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,190	-1,196	-2,554	-2,451	-1,433	-1,265	-989	-1,103	-466	-140	-1,014
Debt-free Net Working Capital (DFNWC)	-749	446	738	463	5,915	952	1,692	6,743	7,479	2,331	2,214
Net Working Capital (NWC)	-749	446	738	463	539	-49	691	1,974	2,271	2,331	2,214
Net Nonoperating Expense (NNE)	19	31	-1.23	-266	28	29	8.55	12	20	14	2.82
Net Nonoperating Obligations (NNO)	2,402	1,940	268	1,030	1,314	2,388	1,923	1,557	2,106	2,232	1,426
Total Depreciation and Amortization (D&A)	398	393	401	395	405	420	415	417	423	422	426
Debt-free, Cash-free Net Working Capital to Revenue	-11.96%	-6.43%	-13.50%	-12.76%	-7.34%	-6.35%	-4.89%	-5.37%	-2.23%	-0.66%	-4.69%
Debt-free Net Working Capital to Revenue	-4.09%	2.40%	3.90%	2.41%	30.30%	4.78%	8.38%	32.80%	35.78%	10.99%	10.25%
Net Working Capital to Revenue	-4.09%	2.40%	3.90%	2.41%	2.76%	-0.24%	3.42%	9.60%	10.86%	10.99%	10.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.09	$2.14	$2.89	$2.02	$2.34	$2.36	$3.07	$2.25	$2.50	$2.63	$3.39
Adjusted Weighted Average Basic Shares Outstanding	411.70M	411.10M	410.50M	410.60M	407.90M	407.60M	406.90M	407.10M	405.10M	403.80M	401.70M
Adjusted Diluted Earnings per Share	$2.08	$2.13	$2.88	$2.01	$2.34	$2.35	$3.06	$2.23	$2.49	$2.62	$3.38
Adjusted Weighted Average Diluted Shares Outstanding	413.60M	412.50M	412.10M	412.20M	409.50M	409M	408.50M	408.70M	406.50M	404.70M	402.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	411.30M	410.79M	409.29M	407.80M	407.46M	406.87M	405.92M	405.04M	404.45M	402.64M	399.73M
Normalized Net Operating Profit after Tax (NOPAT)	878	909	1,184	564	984	993	1,258	923	1,033	1,076	1,363
Normalized NOPAT Margin	19.46%	19.48%	22.53%	11.82%	20.37%	19.66%	22.66%	18.00%	19.95%	20.08%	22.94%
Pre Tax Income Margin	24.22%	24.50%	29.43%	22.85%	25.58%	24.98%	29.21%	23.23%	25.26%	25.81%	30.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.93	11.90	25.66	0.00	9.97	10.73	22.68	11.47	10.66	12.15	23.64
NOPAT to Interest Expense	9.59	8.67	18.88	0.00	7.14	7.66	16.82	8.12	7.63	8.67	17.31
EBIT Less CapEx to Interest Expense	12.74	11.42	24.74	0.00	9.57	10.43	22.20	11.24	10.31	11.93	23.00
NOPAT Less CapEx to Interest Expense	9.40	8.19	17.96	0.00	6.74	7.35	16.33	7.88	7.28	8.46	16.67
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	56.88%	58.19%	57.45%	58.19%	58.20%	58.37%	58.73%	58.80%	59.30%	59.26%	59.12%
Augmented Payout Ratio	86.61%	88.34%	87.19%	91.01%	93.38%	93.25%	93.54%	98.32%	92.93%	94.78%	100.56%

Financials Breakdown Chart

Key Financial Trends

Revenue growth: ADP's Q2 2026 Operating Revenue rose to 5,359,300,000 USD from 5,042,000,000 USD in Q2 2025, a year‑over‑year gain of about 6.3%.
Profit growth: Net Income (Consolidated) increased to 1,062,000,000 USD in Q2 2026 from 963,200,000 USD in Q2 2025 (about +10.3%).
Operating cash flow strength: Net Cash From Continuing Operating Activities was 1,132,900,000 USD in Q2 2026, up meaningfully from prior quarters, signaling solid cash generation.
Cash conversion efficiency: CFO to net income in Q2 2026 implies a healthy cash‑flow conversion (approximately 1.07x when comparing 1.1329B CFO to 1.0620B net income).
Shareholder returns: ADP maintained a quarterly cash dividend per common share of 1.70 USD in Q2 2026, supporting ongoing income to investors.
Liquidity position: Cash & Equivalents of about 2.42B and a Total Current Assets-to-Current Liabilities ratio near 1.03x (as of Q2 2026), indicating modest liquidity headroom.
Margins remain solid: Q2 2026 gross margin ≈ 50.9% (Gross Profit 2,727,400,000 USD on 5,359,300,000 USD revenue), with profitability broadly stable versus peers and prior periods.
Leverage risk: Total Liabilities around 78.25B vs Total Equity roughly 6.39B (liabilities far exceed equity), implying a high leverage profile from a balance‑sheet perspective.
Investing cash outflows: Net Cash From Continuing Investing Activities was negative about 654,000,000 USD in Q2 2026, reflecting ongoing capital deployment into PPE and investments.
Financing activity risk: Net Cash From Financing Activities was a large net outflow/imbalance in some periods, and while financing inflows can fund returns, they also indicate reliance on external financing and debt to support activity.

05/06/26 05:44 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Automatic Data Processing's Financials

When does Automatic Data Processing's financial year end?

According to the most recent income statement we have on file, Automatic Data Processing's fiscal year ends in June. Their fiscal year 2025 ended on June 30, 2025.

How has Automatic Data Processing's net income changed over the last 10 years?

Automatic Data Processing's net income appears to be on an upward trend, with a most recent value of $4.08 billion in 2025, rising from $1.45 billion in 2015. The previous period was $3.75 billion in 2024. Check out Automatic Data Processing's forecast to explore projected trends and price targets.

What is Automatic Data Processing's operating income?

Automatic Data Processing's total operating income in 2025 was $5.41 billion, based on the following breakdown:

Total Gross Profit: $10.45 billion
Total Operating Expenses: $5.04 billion

How has Automatic Data Processing's revenue changed over the last 10 years?

Over the last 10 years, Automatic Data Processing's total revenue changed from $10.94 billion in 2015 to $20.56 billion in 2025, a change of 88.0%.

How much debt does Automatic Data Processing have?

Automatic Data Processing's total liabilities were at $47.18 billion at the end of 2025, a 5.3% decrease from 2024, and a 66.8% increase since 2015.

How much cash does Automatic Data Processing have?

In the past 10 years, Automatic Data Processing's cash and equivalents has ranged from $1.44 billion in 2022 to $3.35 billion in 2025, and is currently $3.35 billion as of their latest financial filing in 2025.

How has Automatic Data Processing's book value per share changed over the last 10 years?

Over the last 10 years, Automatic Data Processing's book value per share changed from 10.24 in 2015 to 15.24 in 2025, a change of 48.9%.

Related Companies

Financial statements for NASDAQ:ADP last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Automatic Data Processing (ADP) Financials

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Automatic Data Processing (ADP) Financials

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