Automatic Data Processing (ADP)财务
NASDAQ · Technology · Software - Application · 员工67,000人 · CEO Maria Black
- 股价
- $293.84 +2.71%
- 市值
- $1160亿
- 企业价值
- $1190亿
- 最近财报
- Q1 '27 2026-10-30提交
- 下次财报
- 2027-01-27 EPS预期 $2.90
营收(TTM)$223亿+6.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)24.8%+5.6 百分点 对比去年同期营业利润 $55.2亿
净利润(TTM)$45.3亿+9.4% 对比去年同期税后,含营业外收益
自由现金流(TTM)$49.8亿+8.3% 对比去年同期资本支出 $3.46亿
稀释EPS(TTM)$11.29+11.3% 对比去年同期最近4个季度之和
净现金-$21.9亿-20.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1160亿 EV $1190亿
- 营收
- $223亿 过去12个月
- 营收增速
- +6% FY2027年一致预期
- 净利润率
- 20.3% 净利润 / 营收,TTM
- P/E
- 26.0× 预期 23.8×(FY2027)
- P/S
- 5.2× 股价 / 营收,TTM
- EV / EBITDA
- 17.9× TTM
- 自由现金流
- $49.8亿 过去12个月
- 净利润
- $45.3亿 过去12个月
- 营收预期
- $233亿 FY2027年一致预期
- 盈利
- 2027-01-27 营收预期 $56.8亿
- 股息
- $6.80 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-28):营收符合预期,EPS 超预期1.8%营收$54.9亿,预期$54.8亿(+0.3%);EPS $2.82,预期$2.77(+1.8%)。
- 营收增长平稳:同比6.1%Q1 '27营收$54.9亿,此前四个季度的平均值为6.7%。
- 营业利润率24.8%(TTM),较去年同期+5.6 百分点营收增长6.5%,营业利润增长37.3%。
- 资本支出占营收的1.6%(去年为0.7%)最近4个季度投入$3.46亿(同比+120.9%)。自由现金流$49.8亿,相当于净利润的110.1%。
- 股东回报$51.5亿 = 自由现金流的103.4%回购$24.8亿(去年为$12.7亿),股息$26.8亿,股权激励$2.51亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少2.3%Q1 '27稀释股数3.98亿,一年前为4.07亿。
- 净债务 $21.9亿现金 + 短期投资 $32.8亿,含租赁债务 $54.7亿;一年前净债务 $18.3亿。
上一季度:Q1 '27
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q1 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $54.9亿 | $51.8亿 | +6.1% |
| 毛利率 | 52.9% | 45.2% | +7.7 百分点 |
| 营业利润 | $13.1亿 | -$1.23亿 | +1,173.1% |
| 营业利润率 | 23.9% | -2.4% | +26.3 百分点 |
| 净利润 | $11.3亿 | $10.1亿 | +11.1% |
| 稀释EPS | $2.83 | $2.49 | +13.7% |
| 经营现金流 | $6.51亿 | $6.42亿 | +1.4% |
| 资本支出 | $5270万 | $4670万 | +12.8% |
| 自由现金流 | $5.98亿 | $5.96亿 | +0.5% |
| R&D | $2.51亿 | $2.51亿 | 0.0% |
| 股权激励费用 | $6720万 | $5870万 | +14.5% |
实际 vs 一致预期
2026-10-28| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $54.9亿 | $54.8亿 | +0.3% |
| EPS(一致预期口径) | $2.82 | $2.77 | +1.8% |
来自2026-10-28发布的Q1 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q1 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| HCM | $22.6亿 | +4.8% | 43.7% | $92.2亿 | +4.8% | |
| Professional Employee Organization Services Segment | $12.3亿 | +8.6% | 23.8% | $47亿 | +7.6% | |
| HRO | $9.53亿 | +4.6% | 18.5% | $40.2亿 | +4.9% | |
| Global | $7.24亿 | +4.9% | 14.0% | $29.4亿 | +9.7% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $53.3亿
- 资本支出
- -$3.46亿
- 股票回购
- -$24.8亿
- 股息
- -$26.8亿
- 收购
- -$2330万
- 债务净发行
- -$89.9亿
- 股权激励费用
- $2.51亿
- 自由现金流
- $49.8亿
- 股东回报 / FCF
- 103.4%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 26.0× | 26.7× | 20.4× – 30.8× |
| EV / EBITDA | 17.9× | 18.0× | 14.0× – 21.0× |
| EV / 营收 | 5.3× | 5.2× | 4.1× – 6.4× |
| 股价 / FCF | 23.4× | 26.0× | 17.1× – 34.5× |
| 股价 / 净资产 | 22.9× | 21.9× | 14.8× – 27.3× |
| FCF收益率 | 4.3% | 4.1% | 2.9% – 5.9% |
| 投入资本回报率 | 34.6% | 33.2% | 23.9% – 41.7% |
| 净资产收益率 | 75.9% | 82.1% | 65.9% – 97.2% |
分析师
一致目标价 $280.50 (-4.5%)
区间 $240.00 – $340.00 · 评级 Hold
强烈买入0
买入8
持有23
卖出5
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $233亿 | +6.1% | $12.36 | +12.8% | 23.8× | 11 |
| FY2028 | $246亿 | +5.7% | $13.51 | +9.4% | 21.7× | 10 |
| FY2029 | $260亿 | +5.5% | $14.75 | +9.2% | 19.9× | 6 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Automatic Data Processing, Inc.在近期10-Q / 10-K文件中标记的全部317项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | -$5070万 | – | – | |
| – | – | – | -0.9% | – | – | |
| – | – | – | $1.66亿 | – | – | |
| – | – | – | $1.68亿 | – | – | |
| Accounts Payable, Current | $1.39亿 | $1.29亿 | +7.5% | $1.63亿 | $1.69亿 | -3.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $35.2亿 | $34.6亿 | +1.7% | $35.2亿 | $35.8亿 | -1.6% |
| Accounts Receivable, after Allowance for Credit Loss, Noncurrent | – | – | – | $440万2025-06-30 | $730万 | -39.7% |
| Accounts Receivable, Allowance for Credit Loss, Current | $5030万 | $4600万 | +9.3% | $4450万 | $4710万 | -5.5% |
| Accounts Receivable, Allowance for Credit Loss, Noncurrent | – | – | – | $10万2025-06-30 | $10万 | 0.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $1640万 | $1030万 | +59.2% | $4750万 | $5320万 | -10.7% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $5000万 | $2250万 | +122.2% | $8820万 | $7220万 | +22.2% |
| Accrued Income Taxes, Current | $1.53亿 | $1.17亿 | +31.4% | $1.1亿 | $910万 | +1,112.1% |
| Accrued Liabilities, Current | $33.3亿 | $29.1亿 | +14.5% | $32.2亿 | $30.9亿 | +4.1% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $20.4亿2026-06-30 | $19.2亿 | +6.3% | $20.4亿 | $19.2亿 | +6.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$15.7亿 | -$7.31亿 | -114.9% | -$9.02亿 | -$8.83亿 | -2.1% |
| Additional Paid in Capital, Common Stock | $31.5亿 | $28.7亿 | +9.7% | $30.7亿 | $27.9亿 | +10.0% |
| Amortization of Intangible Assets | $1.05亿 | $9540万 | +10.0% | $3.85亿 | $3.81亿 | +1.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 80万 | 30万 | +166.7% | 60万 | 0 | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $6120万 | $5720万 | +7.0% | – | – | – |
| Asset Impairment Charges | – | – | – | $02025-06-30 | $0 | – |
| Assets | $635亿 | $543亿 | +16.8% | $632亿 | $534亿 | +18.4% |
| Assets for Plan Benefits, Defined Benefit Plan | $4.31亿2026-06-30 | $3.34亿 | +29.0% | $4.31亿 | $3.34亿 | +29.0% |
| Assets, Current | $528亿 | $442亿 | +19.5% | $526亿 | $433亿 | +21.5% |
| Capitalized Contract Cost, Amortization | $3.03亿 | $2.99亿 | +1.3% | $12亿 | $11.5亿 | +4.8% |
| Capitalized Contract Cost, Impairment Loss | – | – | – | $0 | $0 | – |
| Capitalized Contract Cost, Net | $32亿 | $31.2亿 | +2.6% | $32.4亿 | $31.5亿 | +2.9% |
| Cash and Cash Equivalents, at Carrying Value | $32.8亿 | $24.8亿 | +32.2% | $42.3亿 | $33.5亿 | +26.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $107亿 | $39.9亿 | +168.2% | $106亿 | $50.5亿 | +110.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $8020万 | -$10.6亿 | +107.5% | $55.7亿 | -$50.3亿 | +210.7% |
| Commercial Paper | $0 | $52.1亿 | -100.0% | $0 | $47.7亿 | -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 | 10亿 | 10亿 | 0.0% | 10亿 | 10亿 | 0.0% |
| Common Stock, Shares, Issued | 6.39亿 | 6.39亿 | 0.0% | 6.39亿 | 6.39亿 | 0.0% |
| Common Stock, Shares, Outstanding | 3.96亿 | 4.05亿 | -2.3% | 3.98亿 | 4.05亿 | -1.9% |
| Common Stock, Value, Issued | $6390万 | $6390万 | 0.0% | $6390万 | $6390万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $4.57亿 | $11.7亿 | -60.8% | $43.9亿 | $50亿 | -12.2% |
| Contract with Customer, Liability | $5.15亿 | $5.21亿 | -1.2% | $5.26亿 | $5.2亿 | +1.0% |
| Contract with Customer, Liability, Current | $2.58亿 | $2.58亿 | -0.1% | $2.68亿 | $2.63亿 | +1.8% |
| Contract with Customer, Liability, Noncurrent | $3.76亿 | $3.84亿 | -2.0% | $3.86亿 | $3.85亿 | +0.2% |
| Contract with Customer, Liability, Revenue Recognized | $3730万 | $3100万 | +20.3% | $1.4亿 | $1.34亿 | +4.0% |
| Cost of Goods and Services Sold | $29.7亿 | $28.4亿 | +4.6% | $118亿 | $111亿 | +6.0% |
| Cost, Depreciation and Amortization | $1.29亿 | $1.23亿 | +4.6% | $4.91亿 | $4.86亿 | +1.0% |
| Costs and Expenses | $41.8亿 | $39.8亿 | +5.0% | $166亿 | $156亿 | +6.6% |
| Current Federal Tax Expense (Benefit) | – | – | – | $7.85亿 | $8.81亿 | -10.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.17亿 | $1.36亿 | +59.7% |
| Current Income Tax Expense (Benefit) | – | – | – | $11.6亿 | $11.9亿 | -2.8% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.58亿 | $1.77亿 | -10.7% |
| Debt Instrument, Face Amount | $50亿 | $40亿 | +25.0% | $50亿 | $40亿 | +25.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $3510万 | $2600万 | +35.0% | $3670万 | $2720万 | +34.9% |
| Debt Securities, Available-for-sale | $376亿 | $357亿 | +5.4% | $377亿 | $338亿 | +11.6% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $950万 | $3.33亿 | -97.1% | $1.15亿 | $2.57亿 | -55.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $13.2亿 | $5.45亿 | +142.7% | $5.74亿 | $6.82亿 | -15.8% |
| Debt Securities, Available-for-sale, Amortized Cost | $389亿 | $359亿 | +8.4% | $382亿 | $342亿 | +11.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $73.2亿 | $148亿 | -50.5% | $89.3亿 | $162亿 | -44.8% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $5.16亿 | $5.38亿 | -4.0% | $4.2亿 | $6.72亿 | -37.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $277亿 | $18亿 | +1,437.3% | $158亿 | $19.6亿 | +705.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $8.06亿 | $720万 | +11,097.2% | $1.55亿 | $1020万 | +1,417.6% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $51.1亿 | $77.5亿 | -34.0% | $58.7亿 | $76.5亿 | -23.3% |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | -$140万 | $150万 | -193.3% | $290万 | -$170万 | +270.6% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 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
数据截至 2026-11-01