Automatic Data Processing +

Automatic Data Processing

Company

Ticker

ADP

PAYX

Headquarter

Roseland ,NJ

Rochester ,NY

CEO

Maria Black

John Gibson Jr.

Industry

Staffing & Employment Services

Stock Price

Market Cap

$91.74 B

$35.51 B

Employees

Years

2023
2024
2025

2023
2024
2025

Employees

63.00 K
64.00 K
67.00 K

16.60 K
16.50 K
19.00 K

Y/Y

1.59%

4.69%

3.75%

0.6%

15.15%

Income Statement

Revenue

Years

2023
2024
2025

2023
2024
2025

Revenue

$18.01 B
$19.20 B
$20.56 B

$5.01 B
$5.28 B
$5.57 B

Y/Y

9.18%

6.61%

7.07%

8.57%

5.42%

5.56%

Revenue by Products / Services

Years

2025

2025

Revenue by Geography

Years

2025

Research and Development

Years

2023
2024
2025

2023
2024
2025

Research and Development

$844.80 M
$955.70 M
$988.60 M

Y/Y

5.79%

13.13%

3.44%

Operating Income

Years

2023
2024
2025

2023
2024
2025

Operating Income

$4.51 B
$4.94 B
$5.41 B

$2.03 B
$2.17 B
$2.21 B

Y/Y

18.48%

9.69%

9.49%

10.49%

6.94%

1.55%

Tax Rate (%)

Years

2023
2024
2025

2023
2024
2025

Tax Rate (%)

23.11%
22.99%
23.17%

23.97%
23.79%
23.83%

Y/Y

2.8%

0.51%

0.77%

1.28%

0.75%

0.2%

Net Income

Years

2023
2024
2025

2023
2024
2025

Net Income

$3.41 B
$3.75 B
$4.08 B

$1.56 B
$1.69 B
$1.66 B

Y/Y

15.7%

9.96%

8.73%

11.81%

8.55%

1.96%

Revenue Per Employee

Years

2023
2024
2025

2023
2024
2025

Revenue Per Employee

$285.91 K
$300.04 K
$306.88 K

$301.63 K
$319.90 K
$293.25 K

Y/Y

3.98%

4.94%

2.28%

4.65%

6.06%

8.33%

Net Income Per Employee

Years

2023
2024
2025

2023
2024
2025

Net Income Per Employee

$54.16 K
$58.63 K
$60.89 K

$93.81 K
$102.45 K
$87.23 K

Y/Y

10.19%

8.25%

3.87%

7.77%

9.2%

14.86%

Assets & Liabilities | Cash Flow

Total Assets

Years

2023
2024
2025

2023
2024
2025

Total Assets

$50.97 B
$54.36 B
$53.37 B

$10.55 B
$10.38 B
$16.56 B

Y/Y

19.18%

6.65%

1.83%

9.46%

1.55%

59.53%

Total Liabilities

Years

2023
2024
2025

2023
2024
2025

Total Liabilities

$47.46 B
$49.82 B
$47.18 B

$7.05 B
$6.58 B
$12.44 B

Y/Y

20.69%

4.96%

5.29%

7.68%

6.68%

88.94%

Capital Expenditures (Capex)

Years

2023
2024
2025

2023
2024
2025

Capital Expenditures (Capex)

-$571.60 M
-$563.40 M
-$168.70 M

-$143.00 M
-$161.40 M
-$191.80 M

Y/Y

3.29%

1.43%

70.06%

7.84%

12.87%

18.84%

Profitability

Operating Income Margin (%)

Years

2023
2024
2025

2023
2024
2025

Operating Income Margin (%)

25.02%
25.74%
26.32%

40.60%
41.19%
39.62%

Y/Y

8.53%

2.89%

2.25%

1.77%

1.44%

3.8%

Net Income Margin (%)

Years

2023
2024
2025

2023
2024
2025

Net Income Margin (%)

18.94%
19.54%
19.84%

31.10%
32.03%
29.74%

Y/Y

5.98%

3.15%

1.55%

2.98%

2.97%

7.12%

EBITDA

2022	4405500000.00
2023	5244600000.00
2024	5800000000.00
2025	6242000000.00

2022	2031800000.00
2023	2209700000.00
2024	2431800000.00
2025	2490800000.00

Years

2023
2024
2025

2023
2024
2025

EBITDA

$5.24 B
$5.80 B
$6.24 B

$2.21 B
$2.43 B
$2.49 B

Y/Y

19.05%

10.59%

7.62%

8.76%

10.05%

2.43%

Free Cash Flow (FCF)

2022	2546100000.00
2023	3636000000.00
2024	3594200000.00
2025	4771000000.00

2022	1372900000.00
2023	1556400000.00
2024	1736300000.00
2025	1759300000.00

Years

2023
2024
2025

2023
2024
2025

Free Cash Flow (FCF)

$3.64 B
$3.59 B
$4.77 B

$1.56 B
$1.74 B
$1.76 B

Y/Y

42.81%

1.15%

32.74%

13.37%

11.56%

1.32%

Ratios

Return on Equity (ROE)

Years

2023
2024
2025

2023
2024
2025

Return on Equity (ROE)

97.23%
82.51%
65.93%

44.58%
44.47%
40.15%

Y/Y

6.35%

15.15%

20.09%

1.25%

0.24%

9.72%

Return on Assets (ROA)

Years

2023
2024
2025

2023
2024
2025

Return on Assets (ROA)

6.69%
6.90%
7.64%

14.77%
16.28%
10.01%

Y/Y

43.16%

3.1%

10.76%

2.15%

10.25%

38.54%

Debt to Equity

Years

2023
2024
2025

2023
2024
2025

Debt to Equity

98.15%
81.48%
146.50%

24.78%
22.79%
121.66%

Y/Y

9.41%

16.99%

79.8%

13.23%

8.03%

433.82%

Valuation

Enterprise Value

Years

2023
2024
2025

2023
2024
2025

Enterprise value

$92.29 B
$97.56 B
$131.27 B

$37.46 B
$42.69 B
$60.27 B

Y/Y

2.52%

5.71%

34.55%

17.06%

13.96%

41.18%

Enterprise value to Revenue

Years

2023
2024
2025

2023
2024
2025

Enterprise value to Revenue

5.12
5.08
6.38

7.48
8.09
10.82

Y/Y

6.1%

0.84%

25.66%

23.61%

8.11%

33.75%

Enterprise value to EBITDA

Years

2023
2024
2025

2023
2024
2025

Enterprise value to EBITDA

17.60
16.82
21.03

16.95
17.56
24.20

Y/Y

13.89%

4.41%

25.03%

23.73%

3.55%

37.84%

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