Automatic Data Processing

Industrials Human Resource & Employment Services Roseland, New Jersey Last filing Aug 5, 2026 · FY2026

                    Revenue
                    FY2026
                
$21.9B
                    3y CAGR +6.8%
                    
                    P60
                    
                    +6.7%
                    
                    Net income
                    FY2026
                
$4.4B
                    Net margin +20.1%
                    
                    P100
                    
                    +8.2%
                    
                    Total assets
                    FY2026
                
$63.2B
                    ROA +7.0%
                    
                    P40
                    
                    +18.4%
                    
                    Operating cash flow
                    FY2026
                
$5.4B
                    FCF margin +23.9%
                    
                    P100
                    
                    +10.2%

19 yrs · FY2008–FY2026 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

31 accounts · 10 years

Total assets $63.2B

Total liabilities $57.2B

Shareholders equity $6.0B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Assets
Cash and Cash Equivalents	$4.2B 26.4%	$3.3B 14.9%	$2.9B 39.8%	$2.1B 45.1%	$1.4B -44.2%	$2.6B 34.9%	$1.9B -2.1%	$1.9B -10.2%	$2.2B -22.0%	$2.8B
Short Term Investments	$0 -100.0%	$4.5B 1071.6%	$384.0M	—	—	—	—	$10.5M	—	—
Accounts Receivable	$3.5B -1.6%	$3.6B 4.4%	$3.4B 13.9%	$3.0B -5.1%	$3.2B 16.2%	$2.7B 11.7%	$2.4B 0.1%	$2.4B 22.9%	$2.0B 16.5%	$1.7B
Other Current Assets	$44.8B 40.8%	$31.8B -18.0%	$38.8B 4.7%	$37.1B -26.1%	$50.2B 41.6%	$35.4B 30.2%	$27.2B -8.3%	$29.7B 6.4%	$27.9B -1.0%	$28.2B
Total Current Assets	$52.6B 21.5%	$43.3B -5.0%	$45.5B 8.0%	$42.2B -23.1%	$54.8B 34.5%	$40.7B 29.1%	$31.6B -8.1%	$34.3B 7.2%	$32.0B -1.9%	$32.7B
Property,Plant and Equipment	$641.3M -2.2%	$655.4M -4.4%	$685.6M 0.6%	$681.4M 4.4%	$652.6M -4.7%	$684.5M -2.8%	$703.9M -7.9%	$764.2M -3.7%	$793.7M 1.8%	$779.9M
Operating Lease Assets	$388.6M 3.9%	$374.1M 0.9%	$370.6M -7.9%	$402.4M -10.8%	$450.9M -2.4%	$462.2M -6.4%	$493.7M	$0	—	—
Goodwill	$3.3B 0.3%	$3.3B 39.1%	$2.4B 0.6%	$2.3B 1.7%	$2.3B -1.6%	$2.3B 1.3%	$2.3B -0.6%	$2.3B 3.5%	$2.2B 28.9%	$1.7B
Intangible Assets	$1.7B 3.1%	$1.6B 20.0%	$1.3B -0.6%	$1.3B 0.8%	$1.3B 10.2%	$1.2B -0.5%	$1.2B 13.5%	$1.1B 20.9%	$886.4M 42.9%	$620.2M
Other Noncurrent Assets	$4.7B 10.8%	$4.2B 3.4%	$4.1B 1.0%	$4.0B 14.4%	$3.5B 5.7%	$3.3B 15.9%	$2.9B -15.0%	$3.4B 203.7%	$1.1B -19.2%	$1.4B
Total Assets	$63.2B 18.4%	$53.4B -1.8%	$54.4B 6.7%	$51.0B -19.2%	$63.1B 29.3%	$48.8B 24.5%	$39.2B -6.5%	$41.9B 12.9%	$37.1B -0.2%	$37.2B
Liabilities
Accounts Payable	$162.5M -3.9%	$169.1M 68.1%	$100.6M 3.9%	$96.8M -12.2%	$110.2M -21.9%	$141.1M 38.3%	$102.0M -18.7%	$125.5M -7.3%	$135.4M -9.6%	$149.7M
Accrued Liabilities	$4.4B 7.2%	$4.1B -5.8%	$4.3B 29.9%	$3.3B 10.6%	$3.0B 2.6%	$2.9B 13.7%	$2.6B 1.7%	$2.5B 12.2%	$2.3B 13.3%	$2.0B
Deferred Revenue	$267.5M 1.8%	$262.8M 31.5%	$199.8M 5.9%	$188.6M 0.2%	$188.2M -7.7%	$203.9M -4.0%	$212.5M -3.7%	$220.7M	—	—
Current Portion of Long Term Debt	$0 -100.0%	$4.8B	$0	—	—	—	$1.0B	$0	—	—
Other Current Liabilities	$45.2B 41.3%	$32.0B -20.9%	$40.5B 3.3%	$39.2B -24.5%	$51.9B 48.9%	$34.8B 32.7%	$26.2B -11.8%	$29.7B 6.2%	$28.0B 1.3%	$27.7B
Total Current Liabilities	$50.0B 21.2%	$41.3B -8.4%	$45.1B 5.4%	$42.8B -22.5%	$55.2B 44.8%	$38.1B 26.4%	$30.1B -7.7%	$32.6B 7.3%	$30.4B 2.0%	$29.8B
Long Term Debt	$5.0B 24.9%	$4.0B 32.9%	$3.0B 0.1%	$3.0B 0.1%	$3.0B 0.1%	$3.0B 197.7%	$1.0B -49.9%	$2.0B 0.0%	$2.0B 0.0%	$2.0B
Deferred Revenue Noncurrent	$385.9M 0.2%	$385.2M 7.0%	$360.1M 3.4%	$348.1M 3.9%	$335.0M -7.6%	$362.4M -2.2%	$370.6M -7.2%	$399.3M 5.7%	$377.8M -3.5%	$391.4M
Operating Lease Liabilities Noncurrent	$306.7M -4.5%	$321.2M -2.3%	$328.6M -6.1%	$349.9M -5.7%	$370.9M 8.1%	$343.2M -0.3%	$344.4M	$0	—	—
Deferred Tax Liabilities	$339.1M 107.3%	$163.6M 154.4%	$64.3M -12.6%	$73.6M 9.9%	$67.0M -86.1%	$482.9M -34.0%	$731.9M 10.9%	$659.9M 515.0%	$107.3M -34.2%	$163.1M
Other Noncurrent Liabilities	$1.1B 7.9%	$1.1B 6.8%	$990.8M 6.1%	$933.7M 1.0%	$924.2M 10.8%	$834.1M -0.3%	$837.0M 4.8%	$798.7M 9.7%	$728.0M -12.3%	$830.2M
Total Liabilities	$57.2B 21.2%	$47.2B -5.3%	$49.8B 5.0%	$47.5B -20.7%	$59.8B 38.8%	$43.1B 29.0%	$33.4B -8.4%	$36.5B 8.5%	$33.6B 1.3%	$33.2B
Equity
Preferred Stock	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Common Stock	$63.9M 0.0%	$63.9M 0.0%	$63.9M 0.0%	$63.9M 0.0%	$63.9M 0.0%	$63.9M 0.0%	$63.9M 0.0%	$63.9M 0.0%	$63.9M 0.0%	$63.9M
Additional Paid In Capital	$3.1B 10.0%	$2.8B 15.8%	$2.4B 14.5%	$2.1B 17.2%	$1.8B 17.2%	$1.5B 14.8%	$1.3B 12.7%	$1.2B 16.6%	$1.0B 16.9%	$867.8M
Retained Earnings	$27.0B 6.8%	$25.2B 6.9%	$23.6B 6.8%	$22.1B 6.9%	$20.7B 6.4%	$19.5B 5.5%	$18.4B 5.3%	$17.5B 14.6%	$15.3B 3.7%	$14.7B
Treasury Stock	$23.2B 10.2%	$21.0B 6.5%	$19.7B 6.9%	$18.5B 6.5%	$17.3B 12.7%	$15.4B 9.4%	$14.1B 7.5%	$13.1B 7.2%	$12.2B 8.0%	$11.3B
Accumulated Other Comprehensive Income	$-902.1M -2.1%	$-883.4M 51.1%	$-1.8B 21.6%	$-2.3B -15.7%	$-2.0B -18908.5%	$10.6M 171.6%	$-14.8M 94.2%	$-257.3M 62.2%	$-680.8M -79.5%	$-379.2M
Total Stockholders Equity	$6.0B -2.5%	$6.2B 36.1%	$4.5B 29.6%	$3.5B 8.8%	$3.2B -43.1%	$5.7B -1.4%	$5.8B 6.5%	$5.4B 56.1%	$3.5B -13.0%	$4.0B
Total Liabilitiesand Equity	$63.2B 18.4%	$53.4B -1.8%	$54.4B 6.7%	$51.0B -19.2%	$63.1B 29.3%	$48.8B 24.5%	$39.2B -6.5%	$41.9B 12.9%	$37.1B -0.2%	$37.2B

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $21.9B

Operating income Not reported

Net income $4.4B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
IncomeStatement
Revenues Total Revenue	$21.9B 6.7%	$20.6B 7.1%	$19.2B 6.6%	$18.0B 9.2%	$16.5B 9.9%	$15.0B 2.8%	$14.6B 3.4%	$14.1B 5.9%	$13.3B 7.6%	$12.4B
Expenses Cost of Revenue	$11.8B 6.0%	$11.1B 5.9%	$10.5B 5.3%	$10.0B 5.2%	$9.5B 9.5%	$8.6B 2.3%	$8.4B 5.3%	$8.0B 2.3%	$7.8B 7.9%	$7.3B
Expenses Selling,General and Administrative	$4.4B 8.8%	$4.1B 7.2%	$3.8B 6.4%	$3.6B 9.8%	$3.2B 6.3%	$3.0B 1.2%	$3.0B -2.0%	$3.1B 3.1%	$3.0B 6.8%	$2.8B
Other Income Expense Interest Expense	$459.3M 0.7%	$455.9M 26.1%	$361.4M 42.7%	$253.3M 209.3%	$81.9M 37.2%	$59.7M -44.3%	$107.1M -17.6%	$129.9M 26.5%	$102.7M 28.4%	$80.0M
Other Income Expense Other Income/expense	$410.6M 16.0%	$354.1M 23.5%	$286.7M 56.2%	$183.5M 121.6%	$82.8M -14.0%	$96.3M -34.9%	$148.0M 33.2%	$111.1M 146.7%	$-237.9M -183.7%	$284.3M
Other Income Expense Income Before Tax	$5.7B 7.9%	$5.3B 9.0%	$4.9B 9.8%	$4.4B 16.7%	$3.8B 13.2%	$3.4B 5.6%	$3.2B 5.9%	$3.0B 38.4%	$2.2B -14.2%	$2.5B
Income Tax Income Tax Expense	$1.3B 7.0%	$1.2B 9.8%	$1.1B 9.2%	$1.0B 19.9%	$855.2M 12.1%	$762.7M 6.5%	$716.1M 0.5%	$712.8M 29.5%	$550.3M -31.0%	$797.7M
net Income net Income	$4.4B 8.2%	$4.1B 8.7%	$3.8B 10.0%	$3.4B 15.7%	$2.9B 13.5%	$2.6B 5.4%	$2.5B 7.6%	$2.3B 41.5%	$1.6B -6.5%	$1.7B
net Income Comprehensive Income	$4.4B -12.2%	$5.0B 17.8%	$4.2B 37.1%	$3.1B 228.2%	$944.6M -64.0%	$2.6B -3.1%	$2.7B -0.2%	$2.7B 99.4%	$1.4B -13.2%	$1.6B
Earnings Per Share Basic Eps	$11 9.5%	$10 9.6%	$9 10.8%	$8 17.2%	$7 15.4%	$6 6.5%	$6 8.7%	$5 43.2%	$4 -4.9%	$4
Earnings Per Share Diluted Eps	$11 9.6%	$10 9.7%	$9 10.8%	$8 17.3%	$7 15.3%	$6 6.5%	$6 8.8%	$5 43.2%	$4 -4.9%	$4
Earnings Per Share Weighted Average Shares Diluted	$403.3M -1.3%	$408.7M -0.8%	$412.2M -0.8%	$415.7M -1.3%	$421.1M -1.6%	$428.1M -1.1%	$432.7M -1.1%	$437.6M -1.3%	$443.3M -1.6%	$450.3M

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $5.4B

Investing cash flow $-4.7B

Financing cash flow $4.9B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
CashFlow
Operating Activities net Income	$4.4B 8.2%	$4.1B 8.7%	$3.8B 10.0%	$3.4B 15.7%	$2.9B 13.5%	$2.6B 5.4%	$2.5B 7.6%	$2.3B 21.6%	$1.9B 8.7%	$1.7B
Operating Activities Depreciation and Amortization	$1.8B 3.4%	$1.7B 6.0%	$1.6B 5.7%	$1.5B 4.9%	$1.5B 1.7%	$1.4B 3.7%	$1.4B 8.7%	$1.3B 5.6%	$1.2B 284.4%	$316.1M
Operating Activities Stock Based Compensation	$242.6M -8.8%	$266.1M 9.3%	$243.5M 10.5%	$220.4M 9.3%	$201.7M 15.1%	$175.3M 34.0%	$130.8M -21.8%	$167.3M -4.6%	$175.4M 26.3%	$138.9M
Operating Activities Changes In Operating Assets and Liabilities	$-1.1B 3.8%	$-1.2B 19.1%	$-1.4B -46.8%	$-981.3M 42.0%	$-1.7B -70.8%	$-990.2M 12.5%	$-1.1B 1.6%	$-1.2B -61.8%	$-711.1M -623.4%	$-98.3M
Operating Activities Other Non Cash Items	$119.9M 281.8%	$31.4M 215.9%	$-27.1M -289.5%	$14.3M -91.6%	$170.3M 48.3%	$114.8M -17.7%	$139.5M 61.6%	$86.3M -16.2%	$103.0M 299.2%	$25.8M
Operating Activities net Cash From Operating Activities	$5.4B 10.2%	$4.9B 18.8%	$4.2B -1.2%	$4.2B 35.8%	$3.1B 0.2%	$3.1B 2.2%	$3.0B 12.6%	$2.7B 6.9%	$2.5B 18.3%	$2.1B
Investing Activities Capital Expenditures	$-196.6M -16.5%	$-168.7M 19.0%	$-208.4M -1.0%	$-206.3M -18.3%	$-174.4M 2.4%	$-178.6M -3.4%	$-172.7M -6.6%	$-162.0M 21.4%	$-206.1M 14.2%	$-240.2M
Investing Activities Business Acquisitions	$-22.8M 98.0%	$-1.2B -3367.6%	$-33.6M -3.7%	$-32.4M -176.9%	$-11.7M	$0	$0 100.0%	$-125.5M 79.5%	$-612.4M -600.7%	$-87.4M
Investing Activities Purchases of Investments	$-12.4B -57.3%	$-7.9B -15.0%	$-6.8B -3.3%	$-6.6B 38.3%	$-10.7B -15.8%	$-9.3B -137.3%	$-3.9B 11.7%	$-4.4B 9.3%	$-4.9B -11.3%	$-4.4B
Investing Activities Proceeds From Sale of Investments	$8.3B 27.6%	$6.5B 8.3%	$6.0B 28.3%	$4.7B 10.7%	$4.2B -31.9%	$6.2B -18.4%	$7.6B 162.9%	$2.9B -15.8%	$3.5B -3.9%	$3.6B
Investing Activities Other Investing Activities	$-479.4M -25.4%	$-382.4M -8.9%	$-351.2M 3.9%	$-365.3M -5.9%	$-344.8M -11.8%	$-308.5M 25.5%	$-414.3M -4.5%	$-396.6M -50.1%	$-264.3M -103.9%	$6.8B
Investing Activities net Cash From Investing Activities	$-4.7B -55.3%	$-3.0B -118.5%	$-1.4B 44.8%	$-2.5B 64.1%	$-7.0B -99.6%	$-3.5B -211.4%	$3.2B 243.6%	$-2.2B 12.3%	$-2.5B -143.7%	$5.7B
Financing Activities Proceeds From Debt	$-3.8B -156.1%	$6.7B	$0	$0	—	$2.0B	$0	$0	—	$0
Financing Activities Repayment of Debt	$-1.1M 99.9%	$-1.0B -111144.4%	$-900.0K 10.0%	$-1.0M -11.1%	$-900.0K 99.9%	$-1.0B -45436.4%	$-2.2M -4.8%	$-2.1M 71.2%	$-7.3M -265.0%	$-2.0M
Financing Activities Repurchase of Common Stock	$-2.1B -62.7%	$-1.3B -4.0%	$-1.2B -9.8%	$-1.1B 43.1%	$-2.0B -43.5%	$-1.4B -36.4%	$-1.0B -7.3%	$-937.7M 5.2%	$-989.3M 21.5%	$-1.3B
Financing Activities Dividends Paid	$-2.6B -9.5%	$-2.4B -9.9%	$-2.2B -14.7%	$-1.9B -14.7%	$-1.7B -5.3%	$-1.6B -7.1%	$-1.5B -13.7%	$-1.3B -21.6%	$-1.1B -6.9%	$-995.2M
Financing Activities Proceeds From Stock Issuance	$-1.0M -100.8%	$131.0M 177.5%	$47.2M	—	$96.5M -7.3%	$104.1M 108.2%	$50.0M -31.4%	$72.9M 5.2%	$69.3M -27.6%	$95.7M
Financing Activities Other Financing Activities	$13.4B 245.8%	$-9.2B -573.6%	$1.9B 115.3%	$-12.7B -173.6%	$17.2B 107.0%	$8.3B 339.8%	$-3.5B -277.3%	$2.0B 482.6%	$335.1M 105.5%	$-6.1B
Financing Activities net Cash From Financing Activities	$4.9B 170.0%	$-7.0B -387.1%	$-1.4B 90.9%	$-15.7B -214.8%	$13.7B 112.1%	$6.4B 209.3%	$-5.9B -2736.1%	$-207.7M 87.5%	$-1.7B 80.0%	$-8.3B
Cash Reconciliation Effect of Exchange Rate On Cash	$-37.8M -201.3%	$37.3M 266.5%	$-22.4M -6.2%	$-21.1M 78.6%	$-98.7M -233.7%	$73.8M 313.9%	$-34.5M -19.8%	$-28.8M -596.6%	$5.8M -60.5%	$14.7M
Cash Reconciliation net Change In Cash	$5.6B 210.7%	$-5.0B -482.8%	$1.3B 109.4%	$-14.0B -245.4%	$9.6B 58.3%	$6.1B 2265.8%	$257.4M 1.3%	$254.1M 115.5%	$-1.6B -299.2%	$-410.7M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Profitability
Gross margin	+46.4%	+46.0%	+45.4%	+44.7%	+42.6%	+42.4%	+42.1%	+43.2%	+41.1%	+41.3%
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+20.1%	+19.8%	+19.5%	+18.9%	+17.9%	+17.3%	+16.9%	+16.2%	+12.2%	+14.0%
FCF margin	+23.9%	+23.2%	+20.6%	+22.2%	+17.7%	+19.4%	+19.6%	+17.9%	+17.3%	+15.2%
Growth
Revenue CAGR (3y)	+6.8%	+7.6%	+8.6%	+7.3%	+5.4%	+4.0%	+5.6%	+6.5%	+6.8%	+6.6%
Returns
ROE	+73.2%	+65.9%	+82.5%	+97.2%	+91.4%	+45.8%	+42.9%	+42.5%	+46.8%	+43.6%
ROA	+7.0%	+7.6%	+6.9%	+6.7%	+4.7%	+5.3%	+6.3%	+5.5%	+4.4%	+4.7%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	1.05x	1.05x	1.01x	0.99x	0.99x	1.07x	1.05x	1.05x	1.05x	1.10x
Quick ratio	0.15x	0.17x	0.14x	0.12x	0.08x	0.14x	0.14x	0.13x	0.14x	0.15x
Leverage
D/E	9.48x	7.62x	10.95x	13.53x	18.55x	7.60x	5.81x	6.76x	9.72x	8.35x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.35x	0.39x	0.35x	0.35x	0.26x	0.31x	0.37x	0.34x	0.36x	0.33x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

Price against fundamentals

ADP $294 · 2025-09-12 · 414d old · FY2026

Market cap $118.4B

P/E 26.82x

P/S 5.39x

P/B 19.63x

EV $119.1B

EV/EBITDA —

FCF yield +4.4%

Dividend yield +2.2%

Notes

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