NASDAQ : ADP
Automatic Data Processing, Inc. — Financial statements
Technology · Software - Application · United States
Last price 293.84 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 116.24B
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Financial statements
Automatic Data Processing, Inc. (ADP) reported revenue of 22.26B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 20.87B | 20.59B | 19.37B | 18.18B | 17.20B | 16.05B |
| Other Revenue | 1.40B | 1.35B | 1.19B | 1.02B | 813.40M | 451.80M |
| Revenue | 22.26B | 21.95B | 20.56B | 19.20B | 18.01B | 16.50B |
| Cost of Revenue | 11.39B | 11.27B | 10.61B | 10.01B | 9.50B | 9.05B |
| Gross Profit | 10.87B | 10.68B | 9.95B | 9.20B | 8.51B | 7.45B |
| Selling, General & Admin | 4.42B | 4.36B | 4.02B | 3.74B | 3.50B | 3.17B |
| Operating Expenses | 4.92B | 4.85B | 4.51B | 4.22B | 3.95B | 3.58B |
| Operating Income | 5.95B | 5.83B | 5.44B | 4.98B | 4.56B | 3.86B |
| Interest Expense | -472.00M | -459.30M | -455.90M | -361.40M | -253.30M | -81.90M |
| Interest & Investment Income | 403.20M | 371.00M | 319.50M | 241.30M | 149.50M | 41.00M |
| EBT Excluding Unusual Items | 5.88B | 5.74B | 5.31B | 4.86B | 4.45B | 3.82B |
| Merger & Restructuring Charges | -10.90M | |||||
| Gain (Loss) on Sale of Investments | 11.30M | 11.30M | -1.70M | -5.90M | -14.70M | -4.40M |
| Gain (Loss) on Sale of Assets | 5.00M | 17.10M | 7.50M | |||
| Asset Writedown | -2.10M | -12.10M | ||||
| Legal Settlements | -18.00M | -18.00M | ||||
| Pretax Income | 5.88B | 5.73B | 5.31B | 4.87B | 4.44B | 3.80B |
| Income Tax Expense | 1.35B | 1.32B | 1.23B | 1.12B | 1.03B | 855.20M |
| Earnings From Continuing Operations | 4.53B | 4.41B | 4.08B | 3.75B | 3.41B | 2.95B |
| Net Income | 4.53B | 4.41B | 4.08B | 3.75B | 3.41B | 2.95B |
| Net Income to Common | 4.53B | 4.41B | 4.08B | 3.75B | 3.41B | 2.95B |
| Shares Outstanding (Basic) | 400.15M | 402.30M | 407.10M | 410.60M | 413.70M | 418.80M |
| Shares Outstanding (Diluted) | 401.07M | 403.30M | 408.70M | 412.20M | 415.70M | 421.10M |
| EPS (Basic) | 11.31 | 10.97 | 10.02 | 9.14 | 8.25 | 7.04 |
| EPS (Diluted) | 11.28 | 10.94 | 9.98 | 9.10 | 8.21 | 7.00 |
| Free Cash Flow | 5.25B | 5.24B | 4.77B | 3.95B | 4.00B | 2.93B |
| Free Cash Flow Per Share | 13.08 | 13.00 | 11.67 | 9.58 | 9.62 | 6.95 |
| Dividend Per Share | 5.10 | 6.64 | 6.02 | 5.45 | 4.79 | 4.05 |
| Gross Margin | 48.83% | 48.65% | 48.39% | 47.89% | 47.25% | 45.14% |
| Operating Margin | 26.74% | 26.54% | 26.47% | 25.94% | 25.31% | 23.43% |
| Profit Margin | 20.33% | 20.11% | 19.84% | 19.54% | 18.94% | 17.87% |
| Free Cash Flow Margin | 23.57% | 23.90% | 23.20% | 20.57% | 22.21% | 17.73% |
| EBITDA | 6.55B | 6.41B | 6.03B | 5.54B | 5.11B | 4.38B |
| EBITDA Margin | 29.41% | 29.21% | 29.31% | 28.87% | 28.36% | 26.55% |
| D&A For EBITDA | 594.20M | 585.90M | 582.40M | 561.90M | 549.30M | 515.10M |
| EBIT | 5.95B | 5.83B | 5.44B | 4.98B | 4.56B | 3.86B |
| EBIT Margin | 26.74% | 26.54% | 26.47% | 25.94% | 25.31% | 23.43% |
| Effective Tax Rate | 23.00% | 22.98% | 23.17% | 22.99% | 23.11% | 22.48% |
| Revenue as Reported | 22.26B | 21.95B | 20.56B | 19.20B | 18.01B | 16.50B |
Balance sheet
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.28B | 4.23B | 3.35B | 2.91B | 2.08B | 1.44B |
| Short-Term Investments | 4.46B | 14.70M | 32.70M | |||
| Cash & Short-Term Investments | 3.28B | 4.23B | 7.81B | 2.91B | 2.10B | 1.47B |
| Receivables | 3.52B | 3.52B | 3.58B | 3.43B | 3.01B | 3.17B |
| Other Current Assets | 46.02B | 44.81B | 31.86B | 39.20B | 37.06B | 50.17B |
| Total Current Assets | 52.83B | 52.56B | 43.25B | 45.54B | 42.17B | 54.80B |
| Property, Plant & Equipment | 1.03B | 1.03B | 1.03B | 1.06B | 1.08B | 1.10B |
| Long-Term Investments | 138.60M | |||||
| Goodwill | 3.28B | 3.28B | 3.27B | 2.35B | 2.34B | 2.30B |
| Other Intangible Assets | 1.66B | 1.65B | 1.60B | 1.34B | 1.34B | 1.33B |
| Long-Term Deferred Tax Assets | 64.20M | 56.10M | 200.20M | 331.10M | 157.40M | |
| Long-Term Deferred Charges | 3.20B | 3.24B | 3.15B | 2.96B | 2.77B | 2.58B |
| Other Long-Term Assets | 1.46B | 1.22B | 1.00B | 909.20M | 932.80M | 789.10M |
| Total Assets | 63.45B | 63.19B | 53.37B | 54.36B | 50.97B | 63.07B |
| Accounts Payable | 138.70M | 162.50M | 169.10M | 100.60M | 96.80M | 110.20M |
| Accrued Expenses | 3.91B | 4.15B | 3.96B | 4.22B | 3.19B | 2.87B |
| Short-Term Debt | 198.30M | 139.30M | 4.81B | 385.40M | 105.40M | 136.40M |
| Current Portion of Long-Term Debt | 1.00M | 1.00M | 1.10M | 1.20M | 1.20M | |
| Current Portion of Leases | 103.60M | 100.80M | 92.20M | 95.50M | 95.10M | |
| Current Income Taxes Payable | 153.10M | 110.30M | 9.10M | 15.10M | 44.20M | 38.40M |
| Current Unearned Revenue | 257.90M | 267.50M | 262.80M | 199.80M | 188.60M | 188.20M |
| Other Current Liabilities | 46.71B | 45.09B | 31.96B | 40.07B | 39.05B | 51.72B |
| Total Current Liabilities | 51.37B | 50.02B | 41.28B | 45.08B | 42.77B | 55.16B |
| Long-Term Debt | 4.97B | 4.96B | 3.97B | 2.99B | 2.99B | 2.99B |
| Long-Term Leases | 308.00M | 306.70M | 321.20M | 328.60M | 349.90M | 370.90M |
| Long-Term Unearned Revenue | 376.20M | 385.90M | 385.20M | 360.10M | 348.10M | 335.00M |
| Long-Term Deferred Tax Liabilities | 218.80M | 339.10M | 163.60M | 64.30M | 73.60M | 67.00M |
| Other Long-Term Liabilities | 1.13B | 1.14B | 1.06B | 990.80M | 933.70M | 924.20M |
| Total Liabilities | 58.36B | 57.16B | 47.18B | 49.82B | 47.46B | 59.84B |
| Common Stock | 63.90M | 63.90M | 63.90M | 63.90M | 63.90M | 63.90M |
| Additional Paid-In Capital | 3.15B | 3.07B | 2.79B | 2.41B | 2.10B | 1.79B |
| Retained Earnings | 27.41B | 26.97B | 25.24B | 23.62B | 22.12B | 20.70B |
| Treasury Stock | -23.96B | -23.17B | -21.02B | -19.74B | -18.47B | -17.34B |
| Comprehensive Income & Other | -1.57B | -902.10M | -883.40M | -1.81B | -2.31B | -1.99B |
| Shareholders' Equity | 5.09B | 6.03B | 6.19B | 4.55B | 3.51B | 3.23B |
| Total Liabilities & Equity | 63.45B | 63.19B | 53.37B | 54.36B | 50.97B | 63.07B |
| Total Debt | 5.47B | 5.51B | 9.21B | 3.80B | 3.54B | 3.59B |
| Net Cash (Debt) | -2.19B | -1.15B | -1.40B | -885.20M | -1.44B | -2.12B |
| Net Cash Per Share | -5.47 | -2.84 | -3.42 | -2.15 | -3.47 | -5.04 |
| Filing Date Shares Outstanding | 395.60M | 397.26M | 405.06M | 407.80M | 411.99M | 415.52M |
| Total Common Shares Outstanding | 395.60M | 397.80M | 405.30M | 408.10M | 412.10M | 416.10M |
| Working Capital | 1.46B | 2.54B | 1.97B | 462.50M | -597.00M | -353.80M |
| Book Value Per Share | 12.87 | 15.16 | 15.27 | 11.14 | 8.52 | 7.75 |
| Tangible Book Value | 154.90M | 1.09B | 1.31B | 858.00M | -173.90M | -408.30M |
| Tangible Book Value Per Share | 0.39 | 2.75 | 3.24 | 2.10 | -0.42 | -0.98 |
| Land | 648.40M | 637.20M | 648.10M | 682.20M | 675.00M | |
| Machinery | 2.04B | 1.94B | 1.86B | 1.76B | 1.61B |
Cash flow statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 4.53B | 4.41B | 4.08B | 3.75B | 3.41B | 2.95B |
| Depreciation & Amortization | 594.20M | 585.90M | 582.40M | 561.90M | 549.30M | 515.10M |
| Other Amortization | 1.20B | 1.20B | 1.15B | 1.07B | 992.90M | 955.20M |
| Loss (Gain) From Sale of Investments | -115.70M | -88.20M | -72.20M | -42.60M | 23.00M | 101.00M |
| Stock-Based Compensation | 251.10M | 242.60M | 266.10M | 243.50M | 220.40M | 201.70M |
| Provision & Write-off of Bad Debts | 53.60M | 47.50M | 53.20M | 54.60M | 44.00M | 2.80M |
| Other Operating Activities | 162.10M | 145.20M | 30.70M | -62.00M | -95.30M | 13.10M |
| Change in Accounts Receivable | -122.50M | 1.00M | -146.60M | -483.70M | 129.20M | -486.50M |
| Change in Accounts Payable | 7.90M | -4.50M | 60.60M | 1.80M | -11.80M | -16.40M |
| Change in Other Net Operating Assets | -1.11B | -1.10B | -1.06B | -935.50M | -1.06B | -1.14B |
| Operating Cash Flow | 5.45B | 5.44B | 4.94B | 4.16B | 4.21B | 3.10B |
| Capital Expenditures | -202.60M | -196.60M | -168.70M | -208.40M | -206.30M | -174.40M |
| Sale of Property, Plant & Equipment | 10.80M | 28.30M | 34.20M | |||
| Cash Acquisitions | -23.30M | -22.80M | -1.17B | -33.60M | -32.40M | -11.70M |
| Sale (Purchase) of Intangibles | -491.50M | -468.50M | -378.30M | -355.00M | -365.30M | -379.00M |
| Investment in Securities | -3.01B | -4.01B | -1.32B | -795.80M | -1.91B | -6.48B |
| Other Investing Activities | -2.60M | -10.90M | -14.90M | -24.50M | ||
| Investing Cash Flow | -3.73B | -4.71B | -3.04B | -1.39B | -2.52B | -7.01B |
| Short-Term Debt Issued | 106.20M | 4.77B | 320.00M | 128.30M | ||
| Long-Term Debt Issued | 985.70M | 1.98B | ||||
| Total Debt Issued | 488.50M | 1.09B | 6.75B | 320.00M | 128.30M | |
| Short-Term Debt Repaid | -4.77B | -331.80M | -44.70M | |||
| Long-Term Debt Repaid | -1.10M | -1.00B | -900.00K | -1.00M | -900.00K | |
| Total Debt Repaid | -4.77B | -4.77B | -1.33B | -900.00K | -45.70M | -900.00K |
| Net Debt Issued (Repaid) | -4.28B | -3.68B | 5.42B | 319.10M | -45.70M | 127.40M |
| Issuance of Common Stock | 131.00M | 47.20M | 91.60M | 96.50M | ||
| Repurchase of Common Stock | -2.45B | -2.08B | -1.28B | -1.23B | -1.12B | -1.97B |
| Common Dividends Paid | -2.68B | -2.63B | -2.40B | -2.18B | -1.90B | -1.66B |
| Other Financing Activities | 14.43B | 13.27B | -8.84B | 1.62B | -12.70B | 17.06B |
| Financing Cash Flow | 5.02B | 4.88B | -6.97B | -1.43B | -15.68B | 13.65B |
| Foreign Exchange Rate Adjustments | -24.50M | -37.80M | 37.30M | -22.40M | -21.10M | -98.70M |
| Net Cash Flow | 6.71B | 5.57B | -5.03B | 1.31B | -14.01B | 9.64B |
| Free Cash Flow | 5.25B | 5.24B | 4.77B | 3.95B | 4.00B | 2.93B |
| Free Cash Flow Margin | 23.57% | 23.90% | 23.20% | 20.57% | 22.21% | 17.73% |
| Free Cash Flow Per Share | 13.08 | 13.00 | 11.67 | 9.58 | 9.62 | 6.95 |
| Levered Free Cash Flow | 6.53B | 5.24B | 3.52B | 3.68B | 4.78B | 5.26B |
| Unlevered Free Cash Flow | 6.83B | 5.53B | 3.80B | 3.90B | 4.94B | 5.31B |
| Cash Interest Paid | 440.00M | 439.60M | 426.80M | 353.90M | 246.50M | 74.80M |
| Cash Income Tax Paid | 1.12B | 1.01B | 1.20B | 1.19B | 1.08B | 856.80M |
| Change in Working Capital | -1.23B | -1.11B | -1.15B | -1.42B | -938.70M | -1.64B |
Ratios
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 116.00B | 89.52B | 125.19B | 97.69B | 90.80B | 87.74B |
| Enterprise Value | 118.19B | 90.69B | 126.87B | 97.80B | 92.36B | 89.52B |
| Last Close Price | 293.84 | 222.53 | 298.15 | 226.08 | 203.53 | 190.54 |
| PE Ratio | 26.04 | 20.28 | 30.68 | 26.04 | 26.61 | 29.75 |
| Forward PE | 23.27 | 18.74 | 29.04 | 24.55 | 25.18 | 27.99 |
| PS Ratio | 5.21 | 4.08 | 6.09 | 5.09 | 5.04 | 5.32 |
| PB Ratio | 22.83 | 14.84 | 20.23 | 21.48 | 25.88 | 27.20 |
| P/TBV Ratio | 748.85 | 81.87 | 95.45 | 113.86 | ||
| P/FCF Ratio | 22.11 | 17.07 | 26.24 | 24.74 | 22.69 | 30.00 |
| P/OCF Ratio | 21.28 | 16.45 | 25.34 | 23.50 | 21.58 | 28.31 |
| PEG Ratio | 2.60 | 3.11 | 2.18 | 1.77 | 1.89 | |
| EV/Sales Ratio | 5.31 | 4.13 | 6.17 | 5.09 | 5.13 | 5.43 |
| EV/EBITDA Ratio | 18.05 | 14.15 | 21.06 | 17.64 | 18.08 | 20.44 |
| EV/EBIT Ratio | 19.85 | 15.57 | 23.31 | 19.63 | 20.26 | 23.16 |
| EV/FCF Ratio | 22.52 | 17.29 | 26.59 | 24.76 | 23.08 | 30.60 |
| Debt / Equity Ratio | 1.07 | 0.91 | 1.49 | 0.83 | 1.01 | 1.11 |
| Debt / EBITDA Ratio | 0.82 | 0.84 | 1.49 | 0.67 | 0.67 | 0.79 |
| Debt / FCF Ratio | 1.04 | 1.05 | 1.93 | 0.96 | 0.89 | 1.23 |
| Net Debt / Equity Ratio | 0.43 | 0.19 | 0.23 | 0.20 | 0.41 | 0.66 |
| Net Debt / EBITDA Ratio | 0.34 | 0.18 | 0.23 | 0.16 | 0.28 | 0.48 |
| Net Debt / FCF Ratio | 0.42 | 0.22 | 0.29 | 0.22 | 0.36 | 0.72 |
| Asset Turnover | 0.38 | 0.38 | 0.38 | 0.36 | 0.32 | 0.29 |
| Quick Ratio | 0.13 | 0.15 | 0.28 | 0.14 | 0.12 | 0.08 |
| Current Ratio | 1.03 | 1.05 | 1.05 | 1.01 | 0.99 | 0.99 |
| Return on Equity (ROE) | 78.94% | 72.24% | 76.00% | 93.14% | 101.33% | 66.30% |
| Return on Assets (ROA) | 6.32% | 6.25% | 6.32% | 5.91% | 5.00% | 4.32% |
| Return on Invested Capital (ROIC) | 62.78% | 60.22% | 64.25% | 73.88% | 68.06% | 50.40% |
| Return on Capital Employed (ROCE) | 49.30% | 44.20% | 45.00% | 53.70% | 55.60% | 48.90% |
| Earnings Yield | 3.84% | 4.93% | 3.26% | 3.84% | 3.76% | 3.36% |
| FCF Yield | 4.52% | 5.86% | 3.81% | 4.04% | 4.41% | 3.33% |
| Dividend Yield | 2.31% | 2.95% | 1.95% | 2.28% | 2.17% | 1.92% |
| Payout Ratio | 60.27% | 59.51% | 58.80% | 58.18% | 55.79% | 56.26% |
| Buyback Yield / Dilution | 1.69% | 1.32% | 0.85% | 0.84% | 1.28% | 1.64% |
| Total Shareholder Return | 4.00% | 4.27% | 2.80% | 3.12% | 3.46% | 3.56% |