Automatic Data Processing (ADP) financials
NASDAQ · Technology · Software - Application · 67,000 employees · CEO Maria Black
- Price
- $293.84 +2.71%
- Market cap
- $116B
- Enterprise value
- $119B
- Last report
- Q1 '27 filed 2026-10-30
- Next report
- 2027-01-27 EPS est. $2.90
Revenue (TTM)$22.3B+6.5% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)24.8%+5.6 pp vs a year agoOperating income $5.52B
Net income (TTM)$4.53B+9.4% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$4.98B+8.3% vs a year agoCapex $346M
Diluted EPS (TTM)$11.29+11.3% vs a year agoSum of the last 4 quarters
Net cash-$2.19B-20.0% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $116B EV $119B
- Revenue
- $22.3B Trailing 12 months
- Revenue growth
- +6% FY2027 consensus
- Profit margin
- 20.3% Net income / revenue, TTM
- P/E
- 26.0× Forward 23.8× (FY2027)
- P/S
- 5.2× Price / sales, TTM
- EV / EBITDA
- 17.9× TTM
- Free cash flow
- $4.98B Trailing 12 months
- Net income
- $4.53B Trailing 12 months
- Revenue estimate
- $23.3B FY2027 consensus
- Earnings
- 2027-01-27 Revenue est. $5.68B
- Dividend
- $6.80 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-28): revenue in line, EPS beat by 1.8%Revenue $5.49B vs $5.48B expected (+0.3%); EPS $2.82 vs $2.77 (+1.8%).
- Revenue growth steady: 6.1% year on yearQ1 '27 revenue $5.49B, against an average of 6.7% over the four quarters before.
- Operating margin 24.8% (TTM), +5.6 pp on a year agoOperating income grew 37.3% while revenue grew 6.5%.
- Capex 1.6% of revenue (a year ago 0.7%)$346M invested in the last 4 quarters (+120.9% on a year earlier). Free cash flow $4.98B = 110.1% of net income.
- Returned $5.15B to shareholders = 103.4% of free cash flowBuybacks $2.48B (a year earlier $1.27B), dividends $2.68B, stock-based pay $251M (TTM). More than the free cash flow: paid from cash or debt.
- Diluted share count down 2.3% in a year398M diluted shares in Q1 '27, 407M a year earlier.
- Net debt $2.19BCash + short-term investments $3.28B, debt incl. leases $5.47B; a year ago net debt $1.83B.
Last quarter: Q1 '27
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q1 '27 | Year ago | Change | |
|---|---|---|---|
| Revenue | $5.49B | $5.18B | +6.1% |
| Gross margin | 52.9% | 45.2% | +7.7 pp |
| Operating income | $1.31B | -$123M | +1,173.1% |
| Operating margin | 23.9% | -2.4% | +26.3 pp |
| Net income | $1.13B | $1.01B | +11.1% |
| Diluted EPS | $2.83 | $2.49 | +13.7% |
| Operating cash flow | $651M | $642M | +1.4% |
| Capex | $52.7M | $46.7M | +12.8% |
| Free cash flow | $598M | $596M | +0.5% |
| R&D | $251M | $251M | 0.0% |
| Stock-based compensation | $67.2M | $58.7M | +14.5% |
Reported vs consensus
2026-10-28| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $5.49B | $5.48B | +0.3% |
| EPS (as estimated) | $2.82 | $2.77 | +1.8% |
From the report of 2026-10-28 for Q1 '27: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q1 '27 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| HCM | $2.26B | +4.8% | 43.7% | $9.22B | +4.8% | |
| Professional Employee Organization Services Segment | $1.23B | +8.6% | 23.8% | $4.7B | +7.6% | |
| HRO | $953M | +4.6% | 18.5% | $4.02B | +4.9% | |
| Global | $724M | +4.9% | 14.0% | $2.94B | +9.7% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $5.33B
- Capex
- -$346M
- Buybacks
- -$2.48B
- Dividends
- -$2.68B
- Acquisitions
- -$23.3M
- Net debt issued
- -$8.99B
- Stock-based compensation
- $251M
- Free cash flow
- $4.98B
- Returned to shareholders / FCF
- 103.4%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 26.0× | 26.7× | 20.4× – 30.8× |
| EV / EBITDA | 17.9× | 18.0× | 14.0× – 21.0× |
| EV / Sales | 5.3× | 5.2× | 4.1× – 6.4× |
| Price / FCF | 23.4× | 26.0× | 17.1× – 34.5× |
| Price / Book | 22.9× | 21.9× | 14.8× – 27.3× |
| FCF yield | 4.3% | 4.1% | 2.9% – 5.9% |
| Return on invested capital | 34.6% | 33.2% | 23.9% – 41.7% |
| Return on equity | 75.9% | 82.1% | 65.9% – 97.2% |
Analysts
Consensus target $280.50 (-4.5%)
range $240.00 – $340.00 · rating Hold
Strong buy0
Buy8
Hold23
Sell5
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $23.3B | +6.1% | $12.36 | +12.8% | 23.8× | 11 |
| FY2028 | $24.6B | +5.7% | $13.51 | +9.4% | 21.7× | 10 |
| FY2029 | $26B | +5.5% | $14.75 | +9.2% | 19.9× | 6 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 317 figures Automatic Data Processing, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| – | – | – | -$50.7M | – | – | |
| – | – | – | -0.9% | – | – | |
| – | – | – | $166M | – | – | |
| – | – | – | $168M | – | – | |
| Accounts Payable, Current | $139M | $129M | +7.5% | $163M | $169M | -3.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $3.52B | $3.46B | +1.7% | $3.52B | $3.58B | -1.6% |
| Accounts Receivable, after Allowance for Credit Loss, Noncurrent | – | – | – | $4.4M2025-06-30 | $7.3M | -39.7% |
| Accounts Receivable, Allowance for Credit Loss, Current | $50.3M | $46M | +9.3% | $44.5M | $47.1M | -5.5% |
| Accounts Receivable, Allowance for Credit Loss, Noncurrent | – | – | – | $100K2025-06-30 | $100K | 0.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $16.4M | $10.3M | +59.2% | $47.5M | $53.2M | -10.7% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $50M | $22.5M | +122.2% | $88.2M | $72.2M | +22.2% |
| Accrued Income Taxes, Current | $153M | $117M | +31.4% | $110M | $9.1M | +1,112.1% |
| Accrued Liabilities, Current | $3.33B | $2.91B | +14.5% | $3.22B | $3.09B | +4.1% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $2.04B2026-06-30 | $1.92B | +6.3% | $2.04B | $1.92B | +6.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.57B | -$731M | -114.9% | -$902M | -$883M | -2.1% |
| Additional Paid in Capital, Common Stock | $3.15B | $2.87B | +9.7% | $3.07B | $2.79B | +10.0% |
| Amortization of Intangible Assets | $105M | $95.4M | +10.0% | $385M | $381M | +1.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 800K | 300K | +166.7% | 600K | 0 | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $61.2M | $57.2M | +7.0% | – | – | – |
| Asset Impairment Charges | – | – | – | $02025-06-30 | $0 | – |
| Assets | $63.5B | $54.3B | +16.8% | $63.2B | $53.4B | +18.4% |
| Assets for Plan Benefits, Defined Benefit Plan | $431M2026-06-30 | $334M | +29.0% | $431M | $334M | +29.0% |
| Assets, Current | $52.8B | $44.2B | +19.5% | $52.6B | $43.3B | +21.5% |
| Capitalized Contract Cost, Amortization | $303M | $299M | +1.3% | $1.2B | $1.15B | +4.8% |
| Capitalized Contract Cost, Impairment Loss | – | – | – | $0 | $0 | – |
| Capitalized Contract Cost, Net | $3.2B | $3.12B | +2.6% | $3.24B | $3.15B | +2.9% |
| Cash and Cash Equivalents, at Carrying Value | $3.28B | $2.48B | +32.2% | $4.23B | $3.35B | +26.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $10.7B | $3.99B | +168.2% | $10.6B | $5.05B | +110.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $80.2M | -$1.06B | +107.5% | $5.57B | -$5.03B | +210.7% |
| Commercial Paper | $0 | $5.21B | -100.0% | $0 | $4.77B | -100.0% |
| Common Stock, Dividends, Per Share, Declared | $1.70 | $1.54 | +10.4% | $6.64 | $6.02 | +10.3% |
| Common Stock, Par or Stated Value Per Share | $0.10 | $0.10 | 0.0% | $0.10 | $0.10 | 0.0% |
| Common Stock, Shares Authorized | 1B | 1B | 0.0% | 1B | 1B | 0.0% |
| Common Stock, Shares, Issued | 639M | 639M | 0.0% | 639M | 639M | 0.0% |
| Common Stock, Shares, Outstanding | 396M | 405M | -2.3% | 398M | 405M | -1.9% |
| Common Stock, Value, Issued | $63.9M | $63.9M | 0.0% | $63.9M | $63.9M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $457M | $1.17B | -60.8% | $4.39B | $5B | -12.2% |
| Contract with Customer, Liability | $515M | $521M | -1.2% | $526M | $520M | +1.0% |
| Contract with Customer, Liability, Current | $258M | $258M | -0.1% | $268M | $263M | +1.8% |
| Contract with Customer, Liability, Noncurrent | $376M | $384M | -2.0% | $386M | $385M | +0.2% |
| Contract with Customer, Liability, Revenue Recognized | $37.3M | $31M | +20.3% | $140M | $134M | +4.0% |
| Cost of Goods and Services Sold | $2.97B | $2.84B | +4.6% | $11.8B | $11.1B | +6.0% |
| Cost, Depreciation and Amortization | $129M | $123M | +4.6% | $491M | $486M | +1.0% |
| Costs and Expenses | $4.18B | $3.98B | +5.0% | $16.6B | $15.6B | +6.6% |
| Current Federal Tax Expense (Benefit) | – | – | – | $785M | $881M | -10.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $217M | $136M | +59.7% |
| Current Income Tax Expense (Benefit) | – | – | – | $1.16B | $1.19B | -2.8% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $158M | $177M | -10.7% |
| Debt Instrument, Face Amount | $5B | $4B | +25.0% | $5B | $4B | +25.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $35.1M | $26M | +35.0% | $36.7M | $27.2M | +34.9% |
| Debt Securities, Available-for-sale | $37.6B | $35.7B | +5.4% | $37.7B | $33.8B | +11.6% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $9.5M | $333M | -97.1% | $115M | $257M | -55.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $1.32B | $545M | +142.7% | $574M | $682M | -15.8% |
| Debt Securities, Available-for-sale, Amortized Cost | $38.9B | $35.9B | +8.4% | $38.2B | $34.2B | +11.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $7.32B | $14.8B | -50.5% | $8.93B | $16.2B | -44.8% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $516M | $538M | -4.0% | $420M | $672M | -37.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $27.7B | $1.8B | +1,437.3% | $15.8B | $1.96B | +705.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $806M | $7.2M | +11,097.2% | $155M | $10.2M | +1,417.6% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $5.11B | $7.75B | -34.0% | $5.87B | $7.65B | -23.3% |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | -$1.4M | $1.5M | -193.3% | $2.9M | -$1.7M | +270.6% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-K 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-Q 2025-09-30, 10-K 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01